# EDGAR Filing Document

**Accession Number:** 0000354912
**File Stem:** 0001193125-26-186669
**Filing Date:** 2026-4
**Character Count:** 2007740
**Document Hash:** 58509de3860058c83c84beccc01b52f4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-186669.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001193125-26-186669

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE ANNUITY LIFE INSURANCE CO SEPARATE ACCOUNT A
- **CENTRAL INDEX KEY:** 0000354912

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03240
- **FILM NUMBER:** 26906977

**BUSINESS ADDRESS:**
- **STREET 1:** 2929 ALLEN PKWY
- **STREET 2:** P O BOX 3206
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77019
- **BUSINESS PHONE:** 7135221111

**MAIL ADDRESS:**
- **STREET 1:** 2929 ALLEN PKWY
- **STREET 2:** P O BOX 3206
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77019
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE ANNUITY LIFE INSURANCE CO SEPARATE ACCOUNT A
- **CENTRAL INDEX KEY:** 0000354912

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-75292
- **FILM NUMBER:** 26906976

**BUSINESS ADDRESS:**
- **STREET 1:** 2929 ALLEN PKWY
- **STREET 2:** P O BOX 3206
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77019
- **BUSINESS PHONE:** 7135221111

**MAIL ADDRESS:**
- **STREET 1:** 2929 ALLEN PKWY
- **STREET 2:** P O BOX 3206
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77019

## Series and Classes Contracts Data

### VARIABLE ANNUITY LIFE INSURANCE CO SEPARATE ACCOUNT A (Series ID: S000001799)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000004706 | Portfolio Director Fixed and Variable Annuity 1.00 - 12.00 |  |
| C000242997 | Portfolio Director Fixed and Variable Annuity 1.60 - 12.60 |  |
| C000242998 | Portfolio Director Fixed and Variable Annuity 1.20 - 13.20 |  |
| C000242999 | Portfolio Director Fixed and Variable Annuity 1.40 - 12.40 |  |

**File Nos. 033-75292** <br>**811-03240**

------

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** <br>

------

**Form N-4** 

**REGISTRATION STATEMENT** 

**UNDER** 

**THE SECURITIES ACT OF 1933** 

Pre-Effective Amendment No. [ ] <br> Post-Effective Amendment No. 57 [X]

and/or

**REGISTRATION STATEMENT** 

**UNDER** 

**THE INVESTMENT COMPANY ACT OF 1940** 

Amendment No. 325 [X]

**The Variable Annuity Life Insurance Company Separate Account A** 

*(Exact Name of Registered Separate Account)*

**THE VARIABLE ANNUITY LIFE INSURACE COMPANY** 

*(Name of Insurance Company)* 

**2929 Allen Parkway, Houston, Texas 77019** 

*(Address of Insurance Company's Principal Offices) (Zip Code)* 

**Insurance Company's Telephone Number, including Area Code: (713) 831-3575** 

**American Home Assurance Company** 

*(Name of Guarantor)* 

**1271 Avenue of the Americas FL 37, New York, NY 10020-1304** 

*(Address of Guarantor's Principal Offices) (Zip Code)* 

**Guarantor's Telephone Number, including Area Code: (212) 770-7000**

**Johnpaul S. Van Maele** <br>**The Variable Annuity Life Insurance Company** <br>**2919 Allen Parkway, Houston, Texas 77019** 

*(Name and Address of Agent for Service)* 

Approximate Date of Proposed Public Offering: Continuous

It is proposed that this filing will become effective:

☐ immediately upon filing pursuant to paragraph (b) of Rule 485

☒ on May 1, 2026 pursuant to paragraph (b) of Rule 485

☐ 60 days after filing pursuant to paragraph (a)(1) of Rule 485

☐ on (date) pursuant to paragraph (a)(1) of Rule 485.

If appropriate, check the following box:

☐ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

Check each box that appropriately characterizes the Registrant:

☐ New Registrant (as applicable, a Registered Separate Account or Insurance Company that has not filed a Securities Act registration statement or amendment thereto within 3 years preceding this filing)

☐ Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 ("Exchange Act"))

☐ If an Emerging Growth Company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act

------

☐ Insurance Company relying on Rule 12h-7 under the Exchange Act

☐ Smaller reporting company (as defined by Rule 12b-2 under the Exchange Act)

*Title of Securities Being Registered:* (i) Units of interest in The Variable Annuity Life Insurance Company Separate Account A of The Variable Annuity Life Insurance Company under variable annuity contracts and (ii) guarantee related to insurance obligations under certain variable annuity contracts.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Portfolio Director**<sup>®</sup> <br>|
| **Prospectus** |
| **For Series 1.00 to 12.00** |
| **Units of Interest Under Group and Individual Fixed and Variable Deferred Annuity Contracts** |
| Issued By |
| **The Variable Annuity Life Insurance Company** |
| In Connection With |
| **Variable Annuity Life Insurance Company Separate Account A** |

---

May 1, 2026

The Variable Annuity Life Insurance Company ("VALIC") offers certain series of Portfolio Director comprising group and individual fixed and variable deferred annuity contracts for Participants who receive certificates in certain employer-sponsored qualified retirement plans (the "Contracts"). The Contract is available as an individual retirement account (IRA) or as a non-qualified contract. Non-qualified contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan. The Contracts permit Participants to invest in and receive retirement benefits in one or more Fixed Account Options and/or an array of Variable Investment Options described in this prospectus. If your Contract is part of your employer's retirement program, that program will describe which Variable Investment Options are available to you. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, those Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans will not be available within your Contract. Please see ***Appendix A*** of this prospectus for more information about the Variable Investment Options available within this Contract.

Any guarantees under the Contract, including the death benefit, that exceed the value of your interest in the Variable Annuity Life Insurance Company Separate Account A ("Separate Account") are paid from our General Account, which is the Company's account and includes any amounts you allocate to Fixed Account Options including any interest thereon. Therefore, any amounts or obligations that we may pay under the Contract in excess of your interest in the Separate Account are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

**This prospectus provides information employers and Participants should know before investing in the Contracts and will help each make decisions for selecting various investment options and benefits. Please read and retain this prospectus for future reference. The Contract is a complex investment and involves risks that may cause the value of the Contract Owner's investment to fluctuate including potential loss of principal. When the Contract is surrendered, the value may be higher or lower than the Purchase Payments. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties, as applicable.** 

This prospectus describes 12 different Classes of the Contract. There are differences among these Classes with respect to surrender charges, other fees and charges, restrictions, and features. Each Class is offered to certain group plans or through certain markets and certain Classes are no longer available for new sales. We refer to these Classes as "series" in the Contract and in marketing materials. For more information about the series available within this Contract, see *"General Description of the Contracts - About the Series"* below.

The owner of a group Contract (meaning an employer purchasing the Contract for a retirement plan) or the owner of an individual Contract may cancel a newly purchased Contract within 20 days of receiving it without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract value. You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply. The right of cancellation under this Contract does not apply to Participants in a group plan except in a limited number of states. **VALIC may limit, refuse to accept or cease accepting Purchase Payments in the Contract or in a Fixed Account Option with advance notice. This means that you would no longer be able increase your Contract value, death benefit, or any living benefits through Purchase Payments. See *"Variable Investment Options and Fixed Account Options"* below.** 

**The Securities and Exchange Commission ("SEC") has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov.

------

**Table of Contents** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| **[Glossary of Terms](#xx_e5ebd22b-b249-4c2c-8d5c-afb87abb06a8_1)** | 3 |
| **[Overview of the Contract](#xx_bc62a8d2-c8d9-4cff-8c6b-e2c1e55fde12_1)** | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_bc62a8d2-c8d9-4cff-8c6b-e2c1e55fde12_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_bc62a8d2-c8d9-4cff-8c6b-e2c1e55fde12_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_bc62a8d2-c8d9-4cff-8c6b-e2c1e55fde12_2) | 6 |
| **[Key Information](#xx_136124aa-7313-457e-b390-7b75ea6e6fc7_1)** | 7 |
| **[Fee Table](#xx_136124aa-7313-457e-b390-7b75ea6e6fc7_5)** | 11 |
| **[Principal Risks of Investing in the Contract](#xx_84d5dfaf-4d03-45bf-8270-303015727ed5_1)** | 16 |
| **[Description of Insurance Company, Registered Separate](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1)**<br> **[Account, and Investment Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1)**<br>| 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Administration of the Contracts](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC Separate Account A](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Units of Interest](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [American Home Assurance Company](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_1) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distribution of the Contracts](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_2) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options and Fixed Account](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_3)<br> [Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_3)<br>| 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_3) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Voting Rights](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_4) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Who May Give Voting Instructions](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_4) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Determination of Portfolio Company Shares](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_4)<br> [Attributable to Your Account](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_4)<br>| 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [How Portfolio Company Shares Are Voted](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_4) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_5) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Fixed Accounts](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_6) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Program](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_6) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_7) | 25 |
| **[Charges and Adjustments](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_7)** | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Maintenance Charge (Series 1 and 9](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_7)<br> [Contracts Only)](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_7)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_7)<br> [Contracts Only)](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_7)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Plus Excess Transfer Charge (Series 11](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_8)<br> [Contracts Only)](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_8)<br>| 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium Tax Charge](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_9) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account Charges](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_9) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payments from Portfolio Companies/Platform](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_10)<br> [Charges](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_10)<br>| 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Company Expenses](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_10) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Living Benefit Fees](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_10) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Multi-Year Enhanced Option Adjustment](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_10) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program Fees](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_10) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Charges](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_11) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchange Privilege](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_11) | 29 |
| **[General Description of Contracts](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_11)** | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Contracts](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_11) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the General Account](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_11) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Series](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_11) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers Among the Investment Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_12) | 30 |

---

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Contract Features](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_14) | 32 |
| **[Annuity Period](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_15)** | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Fixed Basis](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_15) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Assumed Investment Rate](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_15) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Variable Basis](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_16) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Combination of a Fixed and](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_16)<br> [Variable Basis](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_16)<br>| 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Annuitization](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_16) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Date](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_16) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_16) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Information](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_17) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees on Payout](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_17)<br> [Payments](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_17)<br>| 35 |
| **[Benefits Available Under the Contract](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_18)** | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_23) | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Death Benefits](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_25) | 43 |
| **[Purchases and Contract Value](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_27)** | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Establishment](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_27) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Your Account Will Be Credited](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_28) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purchase Units](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_29) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Fixed Account Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_29) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Variable Investment Options](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_29) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Stopping Purchase Payments](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Principal Underwriter](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Deduction of Advisory Program Fee on](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30)<br> [Purchase Payments](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30)<br>| 48 |
| **[Surrenders and Withdrawals](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30)** | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Surrenders Are Allowed](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Process](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_30) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount That May Be Surrendered](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_31) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Restrictions](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_31) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrenders](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_31) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Systematic Withdrawals](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_31) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distributions Required by Federal Tax Law](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cancellation](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32)[— The](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32)["Free Look" Period](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32) | 50 |
| **[Loans](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32)** | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Interest Charged for a Loan](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Effects of a Loan on Account Value, Payout](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32)<br> [Payments and the Death Benefit](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_32)<br>| 50 |
| **[Taxes](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_33)** | 51 |
| **[Legal Proceedings](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_41)** | 59 |
| **[Financial Statements](#xx_12dedd27-c2c0-4e78-b7db-df8514864937_41)** | 59 |
| **[Appendix A — Investment Options Available Under the](#xx_f6b56a80-dc9f-4ca4-9831-a5fb924f919e_1)**<br> **[Contract](#xx_f6b56a80-dc9f-4ca4-9831-a5fb924f919e_1)**<br>| A-1 |
| **[Appendix](#xx_11471f1c-2bb8-4e8c-bfbc-c5678fc28c92_1)[B — Living Benefits](#xx_11471f1c-2bb8-4e8c-bfbc-c5678fc28c92_1)** | B-1 |
| **[Appendix](#xx_feda8f69-5cb0-4381-8e2d-e5c1394d781a_1)[C — State Contract Variability](#xx_feda8f69-5cb0-4381-8e2d-e5c1394d781a_1)** | C-1 |
| **[Appendix](#xx_c47e26dd-ba2b-417f-bb82-1e4cbc44f803_1)[D — Index Information](#xx_c47e26dd-ba2b-417f-bb82-1e4cbc44f803_1)** | D-1 |

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**Glossary of Terms**

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Unless otherwise specified in this prospectus, the words "we," "us," "our," "Company," and "VALIC" mean The Variable Annuity Life Insurance Company and the words "you" and "your" mean the Participant, or the individual purchasing an individual Contract.

Other specific terms we use in this prospectus are:

**Account Value** — the total sum of your Fixed Account Option(s) and/or Variable Investment Option(s) that have not yet been applied to your annuity payments.

**Advisory Program** — the investment advice service provided by your Investment Adviser. Guided Portfolio Advantage<sup>SM</sup> / Guided Portfolio Services<sup>®</sup> are the financial advice services offered by our affiliate, VFA, a registered investment adviser and an affiliate of VALIC. A separate investment advisory fee and agreement are required for either of these services, if available under an employer's retirement plan. Alternatively, you may have enrolled in an Advisory Program offered by a third-party investment adviser who is not affiliated with us. There may also be an advisory fee required by that adviser. You should ask your investment adviser about any fees charged for investment advice provided. *For new investors, we no longer honor investment adviser transfer requests in connection with Advisory Programs that are offered through third-party Investment Advisers.*

**Annuitant** — the individual (in most cases, you) to whom Payout Payments will be paid.

**Annuity Service Center** — Retirement Services Center, P.O. Box 15648, Amarillo, Texas 79105.

**Assumed Investment Rate** — the rate used to determine your first monthly payout payment per thousand dollars of account value in your Variable Investment Option.

**Beneficiary** — the individual designated to receive the death benefit or Payout Payments upon the death of the Annuitant.

**Business Day** — any weekday that the New York Stock Exchange ("NYSE") is open for trading. Normally, the NYSE is open Monday through Friday, from 9:30 a.m. to 4:00 p.m. Eastern Time. Business Days do not include U.S. holidays or other days when the NYSE is closed.

**Code** — the Internal Revenue Code of 1986, as amended.

**Contract Owner** — the individual or entity to whom the Contract is issued. For a group Contract, the Contract Owner will be the employer purchasing the Contract for a retirement plan.

**Division** — the portion of the Separate Account invested in a particular Portfolio Company. Each Division is a subaccount of VALIC Separate Account A.

**Fixed Account Option** — an account, where available, in which you may invest and is guaranteed to earn at least a minimum rate of interest while invested and an obligation of VALIC's General Account.

**Home Office** — located at 2919 Allen Parkway, Houston, Texas 77019.

**Investment Adviser** — the investment adviser that you have engaged to provide services as part of an Advisory Program. The Investment Adviser may have been engaged through a third party. For new investors, we only support Advisory Programs that are offered through VFA. There are typically advisory fees associated with an Advisory Program. Those fees are separate from the Contract's fees and charges.

VALIC is not an investment adviser to any Advisory Program and does not provide any advice under an Advisory Program.

**Living Benefit** — an optional guaranteed minimum withdrawal benefit designed to help you create a guaranteed income stream for a specified period of time or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if your entire Account Value has been reduced to zero. IncomeLOCK<sup>®</sup> +6, IncomeLOCK<sup>®</sup> +8 (together, "IncomeLOCK Plus") and IncomeLOCK<sup>®</sup> are no longer available for purchase. *See "Appendix B – Living Benefits" for information on these Living Benefits*.

**Market Close** — the close of regular trading on the NYSE, generally 4:00 p.m., Eastern Time, on each day the NYSE is open for business.

**Net Purchase Payments** — the total sum of Purchase Payments minus withdrawals and charges.

**Participant** — the individual (in most cases, you) who makes purchase payments or for whom Purchase Payments are made.

**Participant Year** — a 12-month period starting with the issue date of a Participant's Contract certificate and each anniversary of that date.

**Payout Payments** — annuity payments withdrawn in a steady stream during the Payout Period.

**Payout Period** — the time when you begin to withdraw your money in Payout Payments. It may also be called the "Annuity Period."

**Payout Unit** — a measuring unit used to calculate Payout Payments from your Variable Investment Option. Payout Units measure value, which is calculated just like the Purchase Unit value for each Variable Investment Option except that the initial Payout Unit includes a factor for the Assumed Investment Rate selected. Payout Unit values will vary with the investment experience of the VALIC Separate Account A Division.

**Platform Charge** — a fee we charge in order to make certain underlying Portfolio Companies available as an investment option under the Contract.

**Portfolio Company** — the investment portfolio(s) of a registered open-end management investment company, which serves as

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the underlying investment vehicle for each Division represented in VALIC Separate Account A. Also referred to as Mutual Fund or Fund.

**Proof of Death** — a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death, a written statement by an attending physician, or any other proof satisfactory to VALIC.

**Purchase Payments** — an amount of money you or your employer pay to VALIC to receive the benefits of a Contract.

**Purchase Period** — the accumulation period or time between your first Purchase Payment and the beginning of your Payout Period (or surrender). It also may be called the "Accumulation Period."

**Purchase Unit** — a unit of interest owned by you in your Variable Investment Option.

**Statement of Additional Information or SAI** — a supplementary document that provides additional information about your Contract. This document is not part of the prospectus and should be read only in conjunction with the prospectus for your Contract.

**Systematic Withdrawals** — payments withdrawn on a regular basis during the Purchase Period.

**VALIC Separate Account A or Separate Account** — a segregated asset account established by VALIC under the Texas Insurance Code. The purpose of the VALIC Separate Account A is to receive and invest your Purchase Payments and Account Value in the Variable Investment Option, if selected.

**Variable Investment Option** — investment options that correspond to Separate Account Divisions available under the Contracts.

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**Overview of the Contract** 

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**Purpose of the Contract** 

The Contract is designed to help you invest on a tax-deferred basis, meet long-term financial goals, and plan for your retirement. You can accumulate assets by investing in the Contract's Investment Options and then later convert those accumulated assets into a stream of guaranteed income payments from us. The Contract includes a death benefit that may help financially protect your Beneficiary or Beneficiaries in the event of your death. The optional Living Benefits under the Contract are designed to help you achieve your financial goals and protect against certain financial risks, although the optional Living Benefits are no longer available for purchase.

This Contract may be appropriate for you if you have a long investment time horizon and the Contract's terms and conditions are consistent with your financial goals. It is not intended for people whose liquidity needs require early or frequent withdrawals or for people who intend to frequently trade in the Contract's Investment Options.

The Contract is primarily used in connection with employer-sponsored qualified retirement plans, for which the employer is the Contract owner and participating employees receive certificates related to the Contract, and IRAs. Nonqualified Contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan.

If you are enrolled in an Advisory Program, Advisory Program fees deducted from your Contract may reduce the death benefit, optional living benefit and any annuity benefits, and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Advisory Program** in the "*Benefits Available Under the Contract*" section later in this prospectus.

**Phases of the Contract** 

Like all deferred annuities, the Contract has two phases: (1) a Purchase Period (for savings) and (2) a Payout Period (for income).

**Purchase Period.** During the Purchase Period, you invest your money under the Contract in one or more available Investment Options to help you build assets on a tax-deferred basis. The available Investment Options may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Variable Investment Options.** When you invest in a Variable Investment Option, you are indirectly investing in the Variable Investment Option's underlying Portfolio Company. The Portfolio Companies have different investment objectives, strategies, and risks. You can gain or lose money if you invest in a Variable Investment Option. <br>**Additional information about each Portfolio Company is provided in an appendix to this prospectus. Please see APPENDIX A – INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fixed Account Options.** When you invest in a Fixed Account Option (Fixed Account Plus, Short-Term Fixed Account, Multi-Year Enhanced Option, or a DCA Fixed Account), your principal is guaranteed and earns interest based on a rate set and guaranteed by us. However, if you make an early withdrawal or transfer from a Multi-Year Enhanced Option, the withdrawal or transfer may be subject to a market value adjustment that may reduce the value of your investment.

The amount of money you accumulate during the Purchase Period depends (in part) on the performance of the Investment Options you choose. You may transfer money between Investment Options during the Purchase Period, subject to certain restrictions. Your accumulated assets impact the value of your benefits during the Purchase Period, including the death benefit and any optional Living Benefit, as well as the amount available for withdrawal.

**Payout Period.** When you are ready to receive guaranteed income under the Contract, you can switch to the Payout Period, at which time you will start to receive Payout Payments from us. This is also referred to as "annuitizing" the Contract. You generally decide when to annuitize. You can choose from the available payout options, which may provide income for life, for a guaranteed period of time, or a combination of both. You can also choose to receive Payout Payments on a variable or fixed basis, or a combination of both. If the Payout Payments are made on a fixed basis, the dollar amount of each payment will be the same. If the Payout Payments are made on a variable basis, the dollar amount for the payments will fluctuate.

The death benefit from the Purchase Period does not apply during the Payout Period. Any amount payable upon death during the Payout Period depends on the payout option selected. You cannot take withdrawals of Account Value or surrender the Contract during the Payout Period. If you have an optional Living Benefit at the time of annuitization, you may choose to take Payout Payments in accordance with that Living Benefit. Otherwise, your optional Living Benefit terminates at the beginning of the Payout Period.

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**Contract Features** 

**Contract Series.** This prospectus describes 12 different Classes of the Contract, which we call series. There are differences among the series with respect to surrender charges, other fees and charges, restrictions, and features. Each series is offered to certain group plans or through certain markets. Certain series are no longer available for new sales.

**Retirement Plan Terms and Conditions.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. However, it is also offered as an IRA or a non-qualified contract. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law, which may limit your ability to take certain actions under the Contract.

**Accessing Your Money.** You may withdraw money from the Contract at any time during the Purchase Period. If you make a withdrawal, you may have to pay a surrender charge and/or federal and state income taxes, including a tax penalty if you are younger than age 59½. Withdrawals may negatively impact the value of your benefits under the Contract and may cause an optional Living Benefit to terminate.

**Tax Treatment.** Money can be transferred between Investment Options without tax implications, and earnings (if any) on your investments are generally tax-deferred. Earnings and untaxed contributions are not taxed until they are distributed, which may occur when making a withdrawal, upon receiving a Payout Payment, or upon payment of the death benefit. You do not receive any additional tax benefit under the Contract if you participate in the Contract through a tax-qualified plan or you purchase the Contract through an IRA.

**Death Benefit.** If you die during the Purchase Period, we pay a death benefit to your Beneficiary or Beneficiaries. The Contract has two possible death benefits (interest guaranteed death benefit and standard death benefit), both of which are automatically included in the Contract for no additional fee.

**Optional Living Benefits.** Each optional Living Benefit is a guaranteed minimum withdrawal benefit that is designed to help you create a guaranteed income stream, provided that withdrawals are taken within the parameters of the applicable feature. The optional Living Benefits under the Contract are no longer available for purchase.

**Additional Features and Services.** Additional features and services under the Contract are summarized below. There are no additional charges associated with these features and services unless otherwise noted. Not all features and services may be available under your Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **No Charge Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period without surrender charges, subject to certain requirements related to the duration and amount of the automatic withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Loans.** Tax-free loans may be taken under tax-qualified Contracts (other than IRAs), providing additional access to your money in the Fixed Account Options (excluding Multi-Year Enhanced Options). You will incur interest on an outstanding loan. Loans are subject to restrictions, including a $1,000 minimum loan amount. You may not be able to take a loan under your Contract. We charge up to $75 for a loan application fee for each loan if permissible by your state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Guided Portfolio Advantage**<sup>SM</sup> **("GPA")/Guided Portfolio Services**<sup>®</sup> **("GPS").** GPA and GPS are advisory services offered by VFA to help manage your Account Value. A separate investment advisory fee and agreement is required for these services, if available under an employer's retirement plan. More information about GPA and GPS may be requested by contacting VFA at 866-544-4968 and is also available free of charge on our website at www.corebridgefinancail.com/rs/prospectus-and-reports/vfa-form-adv-materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **American Home Guarantee.** If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Dollar Cost Averaging (DCA) Program.** The DCA program is a systematic transfer of a specified percentage from the DCA Fixed Account to one or more eligible investment options over a specified period of time. Automatic transfers do not count towards the number of free transfers per contract year. DCA may not be available in employer sponsored plans.

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**Key Information**

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**Important Information You Should Consider About the Contract** 

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|  | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in** <br>**Prospectus**<br>|
| **Are There Charges for** <br> **Early Withdrawals?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. Your Contract may be subject to surrender charges depending on the <br> series of Contract:<br>•**Series 1, 3, 4, 5, 7, 8, 9, and 10**. If you withdraw money under the <br> Contract within five years of making a Purchase Payment, you will be <br> assessed a surrender charge of up to 5%, either as a percentage of the <br> amount withdrawn or as a percentage of Purchase Payments made during <br> the last five years, whichever is less.<br>•**Series 2, 6, 11, and 12**. No surrender charge.<br> For example, if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract and make <br> an early withdrawal, you could pay a surrender charge of up to $5,000 on a <br> $100,000 investment and such surrender charge may be greater if subject to <br> taxes or tax penalities. No surrender charges would apply to a series 2, 6, 11, <br> or 12 Contract.<br> You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option). | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments –** <br> **Surrender Charge**<br>|
| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. In addition to surrender charges (if applicable), you may also be <br> charged for other transactions.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•In certain states, you may be subject to a loan application fee and loan <br> interest if you request a loan under the Contract.<br>•Under a series 11 contract, if you transfer amounts from the Fixed Account <br> Plus option to another Investment Option under the Contract (or another <br> funding entity) in excess of the annual limit, you may be subject to a <br> charge of 5% on the excess amount transferred.<br>•There may also be taxes on Purchase Payments. | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments**<br>|

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|  | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Annual Fee** | **Minimum** | **Maximum** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Base Contract<sup>1</sup> <br>(varies by Contract Class)<br>| 1.00% | 1.01% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Portfolio Company fees and <br> expenses<sup>2</sup> <br>| 0.20% | 1.18% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Optional Benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<br>| 0.65%<sup>3</sup> | 3.10%<sup>4</sup> | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Lowest Annual Cost: $1,223** | **Highest Annual Cost: $5,229** | **Highest Annual Cost: $5,229** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Contract Classes and Portfolio <br> Company fees and expenses<br> •No optional benefits<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals<br>| &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |

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|  | **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Is There a Risk of Loss** <br> **from Poor** <br> **Performance?**<br>| &nbsp;&nbsp; **Yes**. You can lose money by investing in this Contract, including your <br> principal investment. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **Is this a Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp;&nbsp; •**No**. This Contract is not a short-term investment and is not appropriate for <br> an investor who needs ready access to cash. Amounts withdrawn from <br> series 1, 3, 4, 5, 7, 8, 9, or 10 Contract may result in surrender charges, <br> taxes and tax penalties. Surrender charges could significantly reduce the <br> amount that you receive upon taking a withdrawal. Withdrawals may also <br> reduce or terminate Contract guarantees and may result in taxes and tax <br> penalties.<br>•If you select the Fixed Account Plus option for investment, your ability to <br> transfer amounts from that option is subject to an annual limit. It may take <br> several years to transfer all amounts from the Fixed Account Plus option. <br> Under a series 11 Contract, if you transfer amounts from the Fixed Account <br> Plus option in excess of that annual limit (including withdrawals from the <br> Fixed Account Plus option for the purpose of transferring assets to another <br> funding entity), you may be subject to a charge.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•The benefits of tax deferral, long-term income, and optional Living Benefit <br> guarantees mean the Contract is generally more beneficial to investors with <br> a long investment time horizon. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Associated with the** <br> **Investment Options?**<br>| &nbsp;&nbsp;&nbsp; •An investment in this Contract is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> Investment Options available under the Contract.<br>•Each Variable Investment Option and each Fixed Account Option has its <br> own unique risks.<br>•You should review the Variable Investment Options and Fixed Account <br> Options before making an investment decision. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Related to the** <br> **Insurance Company?**<br>| &nbsp;&nbsp; An investment in the Contract is subject to the risks related to us, VALIC. Any <br> obligations (including under any Fixed Account Options), guarantees, and <br> benefits of the Contract are subject to the claims-paying ability of VALIC. If <br> we experience financial distress, we may not be able to meet our obligations <br> to you. More information about us, including our financial strength ratings, is <br> available upon request by calling 1-800-448-2542 or visiting <br> www.corebridgefinancial.com/rs. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |

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|  | **RESTRICTIONS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Restrictions** <br> **on the Investment** <br> **Options?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. There are restrictions that may limit the Variable Investment Options <br> and Fixed Account Options that you may choose as well as limitations on <br> the transfer of the contract value among the Variable Investment Options <br> and Fixed Account Options. Certain Investment Options may not be <br> available under your Contract. Some in-plan deferred compensation plans <br> may restrict investment in Public Funds. If your Contract is a tax-deferred <br> nonqualified annuity that is not part of your employer's retirement plan, <br> Variable Investment Options investing in a Public Fund will not be available <br> to you.<br>•You may transfer funds between the Investment Options, subject to certain <br> restrictions.<br>•Transfers between the Investment Options, as well as certain purchases <br> and redemptions, are subject to policies designed to deter market timing <br> and frequent transfers.<br>•Transfers to and from the Fixed Account Options are subject to special <br> restrictions.<br>•Early withdrawals and transfers from a Multi-Year Enhanced Option may be <br> subject to negative adjustments.<br>•We reserve the right to remove or substitute Portfolio Companies as <br> Investment Options and also reserve the right to stop accepting additional <br> Purchase Payments.<br>•If you are enrolled in an Advisory Program, you are personally prohibited <br> from making transfers among Investment Options in the Contract. During <br> such period, transfer instructions may only be provided by the Investment <br> Adviser. If you terminate the Advisory Program, you may make transfers <br> among the Investment Options subject to certain restrictions. | &nbsp;&nbsp; **Variable Investment** <br> **Options and Fixed** <br> **Account Options**<br>**Transfers Between** <br> **Investment Options**<br>|
| **Are There any** <br> **Restrictions on** <br> **Contract Benefits?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. Additional restrictions and limitations apply under the Contract's <br> optional Living Benefits, which are no longer available for purchase.<br>•If you elected an optional Living Benefit, not all Investment Options may be <br> available and you must invest in accordance with any applicable <br> investment restrictions.<br>•We may modify the investment restrictions for an optional Living Benefit.<br> •Withdrawals that exceed limits specified by the terms of an optional Living <br> Benefit may affect the availability of the benefit by reducing the benefit by <br> an amount greater than the value withdrawn and could terminate the <br> benefit.<br>•If you are participating in an Advisory Program and your Investment <br> Adviser's fees are deducted from your Contract, the deduction of those <br> fees may reduce the optional living benefit, death benefit and any other <br> guaranteed benefit, and may be subject to surrender charges, federal and <br> state income taxes and a 10% federal penalty tax. | &nbsp;&nbsp; **Appendix B – Living** <br> **Benefits**<br>**Advisory Program**<br>**Taxes**<br>|
|  | **TAXES** |  |
| **What Are the Contract's** <br> **Tax Implications?**<br>| &nbsp;&nbsp;&nbsp; •You should consult with a tax professional to determine the tax <br> implications of an investment in and payments received under the <br> Contract.<br>•If you purchase the Contract through a tax-qualified plan or an IRA, there is <br> no additional tax benefit under the Contract.<br>•Withdrawals, including withdrawals to pay your Investment Adviser's fees, <br> may be subject to ordinary income tax and may be subject to tax penalties, <br> including if you take a withdrawal before age 59½. | **Taxes** |

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| | | |
|:---|:---|:---|
|  | **CONFLICTS OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How Are Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; Your investment professional may receive compensation for selling this <br> Contract to you in the form of commissions, additional cash compensation, <br> and non-cash compensation. We may share the revenue we earn on this <br> Contract with your investment professional's firm, which may be our affiliate <br> VFA. This conflict of interest may influence your investment professional to <br> recommend this Contract over another investment for which the investment <br> professional is not compensated or compensated less.<br> You may determine to engage an Investment Adviser to provide investment <br> advice to you for the Contract. Your Investment Adviser will charge an <br> Advisory Program Fee. We do not set the Advisory Program Fee. While <br> VALIC may deduct the Advisory Program Fee from your Account Value based <br> on instructions from your Investment Adviser, we do not retain any portion of <br> these fees. If VFA is the Investment Adviser of your Advisory Program, <br> VALIC, as the parent company of VFA will indirectly benefit from VFA's receipt <br> of Advisory Program Fees.<br> In addition, VFA's investment professionals and their managers are eligible <br> for benefits from us or our affiliates, such as non-cash compensation items.<br> As a result of one or more of these conflicts of interest, your investment <br> professional may have a financial incentive to offer or recommend this <br> Contract over another investment. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |
| **Should I Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; Some investment professionals may have a financial incentive to offer you a <br> new contract in place of the one you already own. You should only exchange <br> a contract you already own if you determine, after comparing the features, <br> fees, and risks of both contracts, and any fees or penalties to terminate the <br> existing contract, that it is preferable for you to purchase the new contract <br> rather than continue to own your existing contract. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from an Investment Option or from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. The fees and expenses below do not reflect any advisory fees paid to your Investment Adviser from Contract or other assets. If such charges were reflected, the fees and expenses would be higher.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender, or make withdrawals from an Investment Option or from the Contract, or transfer Contract value between Investment Options. State premium taxes may also be deducted.**

***<u>Transaction Expenses</u>*** 

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| | |
|:---|:---|
| **Deferred Sales Load (or Surrender Charge) (as a percentage of purchase payments or amount surrendered, as** <br> **applicable)**<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1, 3, 4, 5, 7, 8, 9, and 10 | 5.00%<sup>(1)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Series 2, 6, 11, and 12 |  |
| **Maximum Loan Application Fee (per loan)** | $75 |
| **Transfer Fee** |  |
| &nbsp;&nbsp;&nbsp; Series 11 | 5.00%<sup>(2)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Other Series |  |

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**Footnotes to Transaction Expenses** 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(1) The maximum surrender charge is the lesser of 5% of the amount withdrawn or 5% of the Purchase Payments received within the past 60 months. If no Purchase Payments are received within the past 60 months, the surrender charge will be zero. Reductions in and exceptions to the surrender charge are available if certain conditions are met. See *Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* and *Exceptions to Surrender Charge* under **Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only** in the "*Charges and Adjustments*" section.

(2) For all series, transfers from the Fixed Account Plus option are limited to 20% per Participant Year. Transfers in excess of this limitation will not be permitted except under series 11 Contracts. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation. See **Fixed Account Plus Transfer Charge (Series 11 Contracts Only)** in the "*Charges and Adjustments*" section.

**The next tables describe the fees and expenses that you will pay *each year* during the time that you own the Contract (not including Portfolio Company fees and expenses). If you have chosen to purchase an optional benefit, you pay additional charges, as shown below.** 

***<u>Annual Contract Expenses</u>*** 

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| | |
|:---|:---|
| **Administrative Expenses**<br> (also referred to as a Maintenance Charge)<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1 and 9 | $15 |
| &nbsp;&nbsp;&nbsp; Series 2, 3, 4, 5, 6, 7, 8, 10, 11, and 12 |  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Annual Fees** | **Current** | **Maximum** |
| **Base Contract Expenses**<sup>(1)</sup> <br>(as a percentage of average account value or Contract value)<br>| 1.00% | 1.01% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.30% | 2.60% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.55% | 3.10% |
| For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **Maximum Annual Fee Rate**<sup>(4)</sup> |
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **1.15%** |
| **Loan Interest Charges**<br> (as a percentage of average daily value allocated to the Fixed Account Option(s))<br>| **Current Annual Fee Rate** |
| Non-ERISA Contracts<sup>(5)</sup> | 3.00 – 6.00%<sup>(7)</sup> |
| ERISA Contracts<sup>(6)</sup> | 5.50%<sup>(8)</sup> |

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**Footnotes to Annual Contract Expenses**

<sup>(</sup><sup>1</sup><sup>)</sup> Also referred to as "Separate Account Charges." Reductions in the Separate Account Charges may be available for plan types meeting certain criteria. See "Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges." The Base Contract Expenses do not reflect any applicable Platform Charges that may apply. To help you understand the cost of investing in certain Variable Investment Options, Platform Charges are reflected under "Annual Portfolio

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Company Expenses" in this section and in "Appendix A – Investment Options Available Under the Contract." If Platform Charges were included in this table, current charges for certain (but not all) Variable Investment Options would be as high as 1.25%. For additional information, see **Separate Account Charges** in the "*Charges and Adjustments*" section.

<sup>(</sup><sup>2</sup><sup>)</sup> The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. For a complete description of how the Benefit Base is calculated, see "Appendix B – Living Benefits."

<sup>(</sup><sup>3</sup><sup>)</sup> The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your fee rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the VIX. If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the VIX used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. For the formula to calculate the fee, see "Appendix B – Living Benefits."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| Number of Covered Persons | &nbsp;&nbsp; Minimum Annual<br> Fee Rate<br>| &nbsp;&nbsp; Maximum Annualized Fee Rate<br> Decrease or Increase\*<br>|
| One Covered Person | 0.60% | +/-0.25% |
| Two Covered Persons | 0.60% | +/-0.25% |

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\* The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

<sup>(</sup><sup>4</sup><sup>)</sup> If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%. See "Appendix B – Living Benefits."

<sup>(5)</sup> Contracts issued as part of a retirement plan that is not subject to The Employment Retirement Income Security Act of 1974 (ERISA) including 457 Plans and retirement plans administered by government entities and churches.

<sup>(6)</sup> Contracts issued as part of an employer-sponsored retirement plan subject to ERISA including 401(k) and certain 403(b) defined contribution plans.

<sup>(7)</sup> The Non-ERISA Loan Interest Charges will vary based on the Guaranteed Minimum Interest Rate (GMIR) on your contract. Please refer to your contract for your GMIR.

<sup>(8)</sup> The ERISA Loan Interest Charges are variable rates based upon an index prescribed under applicable state insurance rules for policy loans. Loan Interest Charges for an existing loan will not increase, but may decrease, during the term of the loan.

***<u>Annual Portfolio Company Expenses</u>*** 

**The next table shows the minimum and maximum total operating expenses charged by the Portfolio Companies that you may pay periodically during the time that you own the Contract. Expenses shown may change over time and may be higher or lower in the future. These amounts also include applicable Platform Charges if you choose to invest in certain Portfolio Companies. A complete list of Portfolio Companies available under the Contract, including their annual expenses, may be found at the back of this document.** 

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| | | |
|:---|:---|:---|
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | **Minimum**<sup>(1)</sup> | **Maximum**<sup>(2)</sup> |
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | 0.20% | 1.18% |

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**Footnotes to Annual Portfolio Company Expenses** 

<sup>(</sup><sup>1</sup><sup>)</sup> The Portfolio Company with the lowest total annual fund operating expenses are the Vanguard Long-Term Treasury Fund. <sup>(</sup><sup>2</sup><sup>)</sup> The Portfolio Company with the highest total annual fund operating expenses is the American Beacon Man Large Cap Growth Fund.

***Examples***

**These Examples are intended to help you compare the cost of investing in the Variable Investment Options with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual Contract expenses, and annual Portfolio Company expenses. The Examples do not reflect any advisory fees paid to your Investment Adviser from the Contract or other assets. If these fees and charges were reflected, the costs would be higher. Your actual costs may be higher or lower than the examples below.** 

**The Examples assume all Contract value is allocated to the Variable Investment Options. Your costs could differ from those shown below if you invest in Fixed Account Options.** 

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**The Examples assume that you invest $100,000 in the Variable Investment Options for the time periods indicated. The Examples also assume that your investment has a 5% return each year and assume the most expensive combination of annual Portfolio Company expenses and optional benefits available for an additional charge. Your actual costs may be higher or lower.**

**The first set of examples assumes the most expensive combination of annual Contract expenses, annual Portfolio Company expenses, and optional benefits available for an additional charge. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9774 | $20275 | $30715 | $52178 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9760 | $20236 | $30653 | $52068 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5273 | $15774 | $26216 | $52068 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5229 | $15650 | $26022 | $51741 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5214 | $15608 | $25957 | $51630 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5214 | $15608 | $25957 | $51630 |

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**The second set of examples assumes the most expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6852 | $11760 | $16775 | $25313 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6838 | $11719 | $16704 | $25181 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2211 | $6824 | $11704 | $25181 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2226 | $6867 | $11775 | $25313 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2211 | $6824 | $11704 | $25181 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2211 | $6824 | $11704 | $25181 |

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**The third set of examples assumes the least expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5908 | $8856 | $11679 | $14734 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5894 | $8812 | $11606 | $14594 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1223 | $3812 | $6606 | $14594 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1238 | $3856 | $6679 | $14734 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1223 | $3812 | $6606 | $14594 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1223 | $3812 | $6606 | $14594 |

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**Principal Risks of Investing in the Contract**

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**Market Risk.** Variable annuities involve risks, including possible loss of principal. Your losses could be significant. Amounts that you invest in the Variable Investment Options are subject to the risk of poor investment performance. You assume the investment risk. Generally, if the Variable Investment Options that you select make money, your Account Value goes up, and if they lose money, your Account Value goes down. Each Variable Investment Option's performance depends on the performance of its underlying Portfolio Company. Each Portfolio Company has its own investment risks, and you are exposed to the Portfolio Company's investment risks when you invest in a Variable Investment Option. You are responsible for selecting Variable Investment Options that are appropriate for you based on your own individual circumstances, investment goals, financial situation, and risk tolerance. This Contract is not a deposit or obligation of, or guaranteed or endorsed by, any bank. This Contract is not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency.

**Early Withdrawal Risk.** The Contracts are unsuitable for short-term savings. You should carefully consider the risks associated with withdrawals under the Contract. A withdrawal may reduce the value of your standard and optional benefits such as the death benefit or other guaranteed benefits. If you take a loan from your account, the amount of this loan and interest accrued therein may also reduce the value of these standard and optional benefits while the loan is in the process of being paid off, if the loan is never paid off, if you default on the loan, and the fact that your interest payments can never be recovered and, therefore, indirectly lower the contract value based on the loan you took against it. The reductions may be more than the amount withdrawn. Withdrawals may be subject to significant surrender charges if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract. In addition, if you own a series 11 Contract, excess transfers from the Fixed Account Plus option (including withdrawals from the Fixed Account Plus option for the purpose of transferring assets to another funding entity) may be subject to a charge. If you make a withdrawal prior to age 59½, there may be adverse tax consequences, including a 10% federal tax penalty.

**Contract Benefits Risk.** If you elected an optional benefit, there is a risk that you may not have chosen the benefit or benefits (if any) that are best suited for you based on your present or future needs and circumstances, and the benefits that are more suited for you (if any) may no longer be available. In addition, if you elected an optional benefit and do not use it, or if the contingencies upon which the benefit depend never occur, you will have paid for a benefit that did not provide a financial return. There is also a risk that any financial return of an optional benefit, if any, will ultimately be less than the amount you paid for the benefit. If you elected an optional Living Benefit, you are likely subject to investment restrictions for as long as the benefit remains in effect. Investment restrictions limit the investment options that are available to you and limit your ability to take certain actions under the Contract. The investment restrictions are designed to reduce our risk that we will have to make payments to you from our own assets in connection with certain guarantees. In turn, they may also limit the potential growth of your Account Value and the potential growth of your guaranteed benefits. This may conflict with your personal investment objectives. A withdrawal may reduce the value of your standard and optional benefits. For instance, a withdrawal may reduce the value of the death benefit. In addition, a withdrawal could reduce the value of an optional Living Benefit by an amount greater than the amount withdrawn and could result in termination of the benefit. A total withdrawal (surrender) will result in the termination of your Contract or certificate. An early withdrawal (or transfer) from a Multi-Year Enhanced Option may be subject to a market value adjustment that may reduce the value of your investment. We may defer payment of withdrawals from a Fixed Account Option for up to six months when permitted by law.

**Insurance Company Risk.** All guarantees under the Contract that are paid from our general account are subject to risks relating to our financial strength and claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options. If American Home Assurance Company experiences financial distress, it may not be able to fulfill its financial obligations under the guarantee.

**Contract Changes Risk:** Under the Contract, we reserve the right to remove or substitute Portfolio Companies as Investment Options. We additionally reserve the right to stop accepting additional Purchase Payments and impose investment restrictions or limitations on transfers including closing one or more Fixed Account Options to deposits or transfers and transfers among the Variable Investment Options.

**Short-Term Investment Risk.** This Contract is not designed for short-term investing and may not be appropriate for an investor who needs ready access to cash. The benefits of tax deferral, long-term income, and living benefit protections mean that this Contract is more beneficial to investors with a long-time horizon.

**Group Plan Risk.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law. This may impact your ability to make Purchase Payments, request withdrawals or loans, select payout options, or take other actions under the Contract. If the Contract is being used in a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contract in this prospectus.

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**Dynamic Allocation Fund Risk.** The Dynamic Allocation Fund is a Portfolio Company that is generally available under the Contract and is also an investment option under the optional Living Benefits' investment restrictions. This Portfolio Company has an investment strategy that may serve to reduce the risk of investment losses that could require us to use our own assets to make payments in connection with certain guarantees, like living and death benefits. In addition, this Portfolio Company may enable us to more efficiently manage our financial risks associated with guarantees, due in part to an asset management formula developed by affiliated insurance companies and utilized by the Portfolio Company's investment advisers, as described in the Portfolio Company's prospectus. This formula may change over time based on proposals from the Company. Any changes to the formula proposed by the Company will be implemented only if they are approved by the Portfolio Company's investment adviser and board of directors, including a majority of the independent directors.

**Public Fund Availability Risk.** Some in-plan deferred compensation plans may restrict investment in "Public Funds", which are Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Public Funds will not be available within your Contract. (Public Funds are identified in Appendix A.)

**Loan Risk.** If you take a loan under the Contract, interest will accrue on any outstanding loan amounts until they are repaid and, depending on the state, you may be required to pay a loan application fee to us. If you elected an optional living benefit and are permitted to take a loan, taking a loan may automatically terminate the benefit.

**Minimum Account Value Risk.** If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Business Disruption.** Our business is vulnerable to disruptions from natural and man-made disasters and catastrophes, such as but not limited to hurricanes, windstorms, flooding, earthquakes, wildfires, solar storms, war or other military action, acts of terrorism, explosions and fires, pandemics (such as COVID-19) and other highly contagious diseases, mass torts, failure of telecommunications or other critical infrastructure and other catastrophes. A natural or man-made disaster or catastrophe may negatively affect the computer and other systems on which we rely, including see outages or other unavailability, may interfere with our ability to receive, pick up and process mail, to calculate Purchase Unit values, process other contract-related transactions, or to otherwise provide our services, or may have other possible negative impacts. While we have developed and put in place what we believe to be appropriate business continuity and disaster recovery plans and procedures to mitigate operational risks and potential losses related to business disruptions resulting from natural and man-made disasters and catastrophes, there can be no assurance that we, our agents, the underlying Portfolio Company or our service providers will be able to successfully avoid negative impacts resulting from such disasters and catastrophes.

**Cybersecurity Risk.** We rely heavily on interconnected computer systems and digital data to conduct our variable product business activities. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our business partners and service providers, our business is vulnerable to physical disruptions and utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), cyber-attacks, and user errors or other disruptions that may compromise the confidentiality, integrity, or availability of such systems and data. These risks include, among other things, the theft, misuse, corruption, disclosure and destruction of sensitive business data, including personal information, maintained on our or our business partners' or service providers' systems, interference with our websites (such as via denial of service attacks), and other operational disruptions, and unauthorized release of confidential customer information. Such systems failures, cyber-attacks or other disruptions affecting us, any third-party administrator, the underlying Portfolio Companies, intermediaries and other affiliated or third-party service providers, as well as our distribution partners, may adversely affect us and your Contract Value. For instance, systems failures and cyber-attacks may interfere with our processing of contract transactions, including the processing of orders from our website, our distribution partners, or with the underlying Portfolio Companies, impact our ability to calculate Purchase Unit values, cause the release and possible destruction of confidential customer or business information, including personal information, impede order processing, or subject us and/or our service providers, distribution partners and other intermediaries to regulatory fines and enforcement action, litigation risks and financial losses and/or cause reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying Portfolio Companies invest, which may cause the affected underlying Portfolio Companies to lose value. There may be an increased risk of cyber-attacks during periods of geo-political or military conflict. Further, the widespread development, implementation, and use of AI, machine learning, data analytics and similar tools that collect, aggregate and analyze data or inputs (collectively, "AI Tools") may increase our exposure to, or exacerbate the risks of cyber-attacks or other security incidents, particularly where such technologies are exploited by third parties to attempt to breach our or our business partners' and service providers' systems. Despite our implementation of

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policies and procedures, which we believe to be reasonable, that address physical, administrative and technical safeguards and controls and other preventative actions to protect our systems and sensitive business and customer information, including personal information, and reduce the risk of cyber-incidents, there can be no assurance that we or our and distribution partners, the underlying Portfolio Companies or our business partners and service providers will avoid cyber-attacks or information security breaches in the future that may affect your contract and/or personal information.

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**Description of Insurance Company, Registered Separate Account, and Investment Options**

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**About VALIC** 

We were originally organized on December 21, 1955 as The Variable Annuity Life Insurance Company of America Incorporated, located in Washington, D.C. We reorganized in the State of Texas on August 20, 1968, as Variable Annuity Life Insurance Company of Texas. On November 5, 1968, the name was changed to The Variable Annuity Life Insurance Company. Our main business is issuing and offering fixed and variable retirement annuity contracts, like Portfolio Director. Our principal offices are located at 2919 Allen Parkway, Houston, Texas 77019. We have regional offices throughout the United States. VALIC is an indirect, wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge"). VALIC is obligated to pay full amounts promised to investors under the Contracts, subject to its financial strength and claims-paying ability.

**Administration of the Contracts**

VALIC is responsible for the administrative servicing of your Contract. Please contact the Annuity Service Center at 1-800-448-2542, if you have any comments, questions, or service requests.

**About VALIC Separate Account A** 

When you direct money to the Contract's Variable Investment Options, you will be sending that money through VALIC Separate Account A. You do not invest directly in the Portfolio Companies made available in the Contract. VALIC Separate Account A invests in the Portfolio Companies on behalf of your account. VALIC acts as custodian for the Portfolio Company shares owned through the Separate Account. VALIC Separate Account A is made up of what we call "Divisions." Each Division invests in a different Portfolio Company made available through the Contract. The earnings (or losses) of each Division are credited to (or charged against) the assets of that Division, and do not affect the performance of the other Divisions of VALIC Separate Account A.

VALIC established Separate Account A on July 25, 1979 under Texas insurance law. VALIC Separate Account A is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended, (the "1940 Act"). Units of interest in VALIC Separate Account A are registered as securities under the Securities Act of 1933, as amended (the "1933 Act").

VALIC Separate Account A is administered and accounted for as part of the Company's business operations. However, the income, capital gains or capital losses, whether or not realized, of each Division of VALIC Separate Account A are credited to or charged against the assets held in that Division without regard to the income, capital gains or capital losses of any other Division or arising out of any other business the Company may conduct. In accordance with the terms of the Contract, VALIC Separate Account A may not be used to pay any liabilities of the insurance company other than those arising from the Contracts. Income, gains, and losses credited to, or charged against, VALIC Separate Account A reflects its own investment experience and not the investment experience of VALIC's other assets. As stated in the Contract, the Texas Insurance Code requires that the assets of VALIC Separate Account A attributable to the Contract be held exclusively for the benefit of the Contract owner, Participants, annuitants, and beneficiaries of the Contracts.

We are obligated to pay all amounts promised to investors under the Contracts. The commitments under the Contracts are the sole obligation of VALIC and the assets in VALIC Separate Account A may not be used to pay any liabilities of VALIC other than those arising from the Contracts. All amounts paid from our General Account, including our obligations under any Fixed Account Option and any death benefits, Payout Payments, or Living Benefit guarantees in excess of your amounts in the Separate Account are subject to the Company's financial strength, claims-paying ability, and long-term ability to make payments.

**Units of Interest** 

Your investment in a Division of VALIC Separate Account A is represented by units of interest issued by VALIC Separate Account A. On a daily basis, the units of interest issued by VALIC Separate Account A are revalued to reflect that day's performance of the underlying Portfolio Company minus any applicable fees and charges to VALIC Separate Account A.

**American Home Assurance Company** 

The information below is applicable to you only if your Contract or Certificate was issued December 29, 2006 or earlier.

Insurance obligations under Contracts issued by the Company are guaranteed by American Home Assurance Company ("American Home"), an indirect wholly-owned subsidiary of American International Group, Inc. Insurance obligations include, without limitation, Contract value invested in any available fixed account option, death benefits and income options. The guarantee does not guarantee

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Contract value or the investment performance of the Variable Investment Options available under the Contracts. The guarantee provides that the Company's Contract owners can enforce the guarantee directly.

American Home provided notice of termination of the General Guarantee Agreement dated March 3, 2003 (the "Guarantee") with respect to Contracts issued by VALIC. The Guarantee terminated on December 29, 2006 at 4:00 p.m. Eastern time ("Point of Termination"). Pursuant to its terms, the Guarantee will not apply to any group or individual Contract or Certificate issued after the Point of Termination. The Guarantee will remain in effect for any Contract or Certificate issued prior to the Point of Termination until all insurance obligations under such Contracts or Certificates are satisfied in full. As described in the prospectus, VALIC will continue to remain obligated under all of its Contracts and Certificates, regardless of issue date, in accordance with the terms of those Contracts and Certificates.

American Home is a stock property-casualty insurance company incorporated under the laws of the State of New York on February 7, 1899. American Home's principal executive office and home office address is 1271 Avenue of the Americas, FL37, New York, NY, 10020-1304. American Home is licensed in all 50 states of the United States and the District of Columbia, as well as certain foreign jurisdictions, and engages in a broad range of insurance and reinsurance activities. American Home is an indirect wholly owned subsidiary of American International Group, Inc.

**Distribution of the Contracts** 

The principal underwriter and distributor for VALIC Separate Account A is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

*VFA* 

The Contracts are sold by licensed insurance agents who are registered representatives of broker-dealers, which are members of the Financial Industry Regulatory Authority ("FINRA"), unless such broker-dealers are exempt from the broker-dealer registration requirements of the Securities Exchange Act of 1934, as amended. VALIC receives payments from some Portfolio Companies for exhibitor booths at meetings and to assist with the education and training of VALIC, VFA and their affiliates, employees, and investment professionals.

VFA investment professionals who sell the Contracts will be compensated for such sales by commissions ranging up to 6% of each first-year Purchase Payment. The investment professionals will receive commissions of up to 0.85% for level Purchase Payments in subsequent years and up to 5% on increases in the amount of Purchase Payments in the year of the increase. During the first two years of employment, investment professionals may also receive developmental commissions of up to 4% for each first-year Purchase Payment and for increases in the amount of Purchase Payments. Investment professionals can also receive an Enrollment Payment where the amount of the payment varies based on the number of total enrollments written by the investment professional and on the expected annualized Purchase Payments of the Participant.

For more information about how your investment professional may be compensated, please contact your investment professional.

*Portfolio Companies* 

The Portfolio Companies or their registered investment advisers or their affiliates ("Portfolio Company Entities") may make payments to VALIC, typically for administrative, recordkeeping, and shareholder services that VALIC provides for the underlying Portfolio Company. See also **Payments from Portfolio Companies/Platform Charges** in this prospectus.

In addition, VALIC and/or its affiliates may receive payments from Portfolio Company Entities that voluntarily choose to participate in, and that are designed to defray the costs associated with, conferences, seminars, training, or other educational events sponsored by VALIC and its affiliates where such funds and services are discussed and that are attended by VFA investment professionals, VALIC employees, employees of our affiliates and/or plan sponsors and plan consultants. Moreover, these Portfolio Company Entities may also make payments to VALIC and/or its affiliates for exhibitor booths at meetings and to assist with education and training of VFA financial professionals.

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*Consultants* 

VALIC and its affiliates sometimes retain and compensate business consultants to assist VALIC in marketing group employee benefit services to employers. These business consultants are not associated persons of VFA or affiliated with VALIC or its affiliates and are not authorized to sell or market securities or insurance products to employers or to group plan participants. The fees paid to such business consultants are part of VALIC's general overhead and are not charged back to employers, group employee benefit plans or plan participants.

*Sponsorships* 

VALIC and its affiliates maintain ongoing relationships with various organizations and associations, including trade associations, unions, and other industry groups, to which VALIC and/or its affiliates makes sponsorship payments for marketing and advertising opportunities. These marketing and advertising opportunities may take the form of participation in leadership and recognition events, educational conferences, speaking opportunities, booth space and signage at membership conferences and similar events, and membership dinners. VALIC and its affiliates may also receive payments from unaffiliated third-parties in exchange for enhanced engagement with and exposure to VALIC and VFA management and their investment professionals throughout the year. Such payments are typically flat fees (either one-time or recurring) and are not based on transactions or sales.

VALIC and its affiliates also have ongoing relationships with retirement plan sponsors. As part of these ongoing relationships, VALIC and its affiliates sponsor events and seminars for plan participants that provide education for plan participants, as well as marketing and advertising opportunities for VALIC and its affiliates. Such sponsorships may include providing occasional meals, entertainment, or nominal gifts to the extent permitted by FINRA rules.

These various sponsorships may be considered endorsements of the products of VALIC or its affiliates, may result in additional annuity or other product sales to plan participants, and provide an incentive to these organizations, associations, and plan sponsors to promote the products and services of VALIC and its affiliates.

**Variable Investment Options and Fixed Account Options** 

The Contracts offer a choice from among several Variable Investment Options and five Fixed Account Options. The Variable Investment Options and Fixed Account Options may be referred to together as Investment Options. Depending on the selection made by your employer's plan, if applicable, there may be limitations on which and how many Investment Options Participants may invest in at any one time. All options listed (except where noted) are available, generally, for 401(a), 403(a), 401(k), and 403(b) plans and 457(b) eligible deferred compensation plans, as well as individual retirement annuities.

This prospectus describes a Contract in which units of interest in VALIC's Separate Account A are offered. Portfolio Director will allow you to accumulate retirement dollars in Fixed Account Options and/or Variable Investment Options. Variable Investment Options are referred to as Divisions (subaccounts) in VALIC Separate Account A. Each Separate Account Division represents our investment in a different Portfolio Company. This prospectus describes only the variable aspects of Portfolio Director except where the Fixed Account Options are specifically mentioned.

**Variable Investment Options** 

The Contracts enable you to participate in Divisions that represent the Variable Investment Options. These Divisions comprise all of the Variable Investment Options that are made available through VALIC Separate Account A. According to your retirement program, you may not be able to invest in all of the Variable Investment Options described in this prospectus. You

may be subject to further limits on how many options you may be invested in at any one time or how many of the options you are invested in may be involved in certain transactions at any one time. We reserve the right to limit the Investment Options available under your Contract if you elected a Living Benefit, as described in Appendix B.

Several of the Variable Investment Options offered through VALIC's Separate Account A are also available to the general public (retail investors) outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. These funds are listed in Appendix A as "Public Funds." If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, or if your Contract is issued under a deferred compensation plan (other than an eligible 457(b) plan), those Variable Investment Options that are invested in Public Funds will not be available within your Contract, due to Code requirements concerning investor control. Therefore, the nonqualified annuities listed above and ineligible deferred compensation 457(f) plans and private sector top-hat plans (generally, an unfunded deferred compensation plan maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly-compensated employees) may invest only in VALIC Company I Funds.

Contract value allocated to a Variable Investment Option will vary based on the investment experience of the corresponding

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Portfolio Company in which the Variable Investment Option invests. There is a risk of loss of the entire amount invested.

**Information regarding each Portfolio Company, including (i) its name, (ii) its type (e.g. money market fund, bond fund, balanced fund, etc.), (iii) its investment adviser and any sub-investment adviser, (iv) current expenses, and (v) performance is available in an appendix to this prospectus. See "Appendix A – Investment Options Available Under the Contract."** 

**Each Portfolio Company has issued a prospectus that contains more detailed information about the Portfolio Company. Read these prospectuses carefully before investing. Paper or electronic copies of the Portfolio Company prospectuses may be obtained by calling 1-800-448-2542, or visiting www.corebridgefinancial.com/rs/prospectus-and-reports/annuities.** 

Refer to your employer's retirement program documents for a list of the employer-selected Variable Investment Options and any limitations on the number of Variable Investment Options you may choose. All Portfolio Companies may not be available for all plans or individual or group contracts.

Shares of certain of the Portfolio Companies are also sold to separate accounts of other insurance companies that may or may not be affiliated with us. This is known as "shared funding." These Portfolio Companies may also be sold to separate accounts that act as the underlying investments for both variable annuity contracts and variable life insurance policies. This is known as "mixed funding." There are certain risks associated with mixed and shared funding, such as conflicts of interest due to differences in tax treatment and other considerations, including the interests of different pools of investors. These risks may be discussed in each Portfolio Company's prospectus.

Investors seeking to achieve long term retirement security generally are encouraged to give careful consideration to the benefits of a well-balanced and diversified investment portfolio. As just one example, investing one's total retirement savings in a limited number of Investment Options may cause that individual's retirement savings to not be adequately diversified. Spreading those assets among different types of investments can help an investor achieve a favorable rate of return in changing market or economic conditions that may cause one category of assets or particular security to perform very well while causing another category of assets or security to perform poorly. Of course, diversification is not a guarantee of gains or against losses. However, it can be an effective strategy to help manage investment risk.

**Voting Rights**

As discussed in the **About VALIC Separate Account A** section of this prospectus, VALIC Separate Account A holds, on your behalf, shares of the Portfolio Companies that comprise the Variable Investment Options. From time to time, the Portfolio

Companies may be required to hold a shareholder meeting to obtain approval from their shareholders for certain matters.

**Who May Give Voting Instructions** 

During the Purchase Period, subject to any contrary provisions in the plan, the Contract Owner, Participant, or Beneficiary will have the right to give voting instructions to VALIC Separate Account A for the shareholder meetings, except as noted below. Proxy materials and a form on which voting instructions may be given before the shareholder meeting is held will be mailed in advance of any shareholder meeting. Please vote each card received.

Participants in a nonqualified unfunded deferred compensation plan will not have the right to give voting instructions.

**Determination of Portfolio Company Shares Attributable to Your Account** 

*During the Purchase Period* 

The number of Portfolio Company shares attributable to your account will be determined on the basis of the Purchase Units credited to your account on the record date set for the Portfolio Company shareholder meeting.

*During the Payout Period or after a Death Benefit Has Been Paid* 

The number of Portfolio Company shares attributable to your account will be based on the liability for future variable annuity payments to your payees on the record date set for the Portfolio Company shareholder meeting.

**How Portfolio Company Shares Are Voted** 

VALIC Separate Account A will vote all of the shares of the Portfolio Company it holds based on, and in the same proportion as, the instructions given by all Participants invested in that Portfolio Company entitled to give instructions at that shareholder meeting. VALIC Separate Account A will vote the shares of the Portfolio Companies it holds for which it receives no voting instruction in the same proportion as the shares for which voting instructions have been received. One effect of proportional voting is that a small number of Contract Owners may determine the outcome of a vote. In the future, we may decide how to vote the shares of VALIC Separate Account A in a different manner if permitted at that time under federal securities law.

In the event that shares of a Portfolio Company are owned by VALIC or an affiliated insurance company for their own benefit, such shares will be voted proportionally based on instructions received from Contract Owners.

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**Fixed Account Options** 

Portfolio Director Contracts feature up to five guaranteed Fixed Account Options that are each part of the General Account assets of the Company. These assets are invested in accordance with applicable state regulations to provide fixed-rate earnings and guarantee safety of principal. The guarantees under the Fixed Account Options are subject to our financial strength,

claims-paying ability, and our long-term ability to make such payments, and not the Separate Account. A tax-deferred nonqualified annuity may include the guaranteed Fixed Account Options. The Fixed Account Options are not subject to regulation under the 1940 Act and are not required to be registered under the 1933 Act. <br>

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| | |
|:---|:---|
| **Fixed Account Options** | **Description** |
| Fixed Account Plus | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides for a fixed rate of interest with a long-term time horizon. It is credited <br> with interest at rates set by VALIC. The account is guaranteed to earn at least a minimum rate of interest as <br> shown in your Contract. Your money may be credited with a different rate of interest depending on the time <br> period in which it is accumulated. Purchase Payments allocated to Fixed Account Plus will receive a current <br> rate of interest. There are limitations on transfers out of this option. If you transfer assets from Fixed Account <br> Plus to another investment option, any assets transferred back into Fixed Account Plus within 90 days will <br> receive a different rate of interest than that paid for new Purchase Payments. Please refer to the **Fixed** <br> **Account Plus Excess Transfer Charge (Series 11 Only)** section in "*Charges and Adjustments*" for information <br> about certain transfer limitations for Fixed Account Plus.<br>|
| Short-Term Fixed Account | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides fixed-return investment growth for the short-term. It is credited with <br> interest at rates set by VALIC, which may be lower than the rates credited to Fixed Account Plus, above. The <br> account is guaranteed to earn at least a minimum rate of interest as shown in your Contract. Your money may <br> be credited with a different rate of interest depending on the time period in which it is accumulated.<br>|
| &nbsp;&nbsp;&nbsp; Multi-Year Enhanced Option <br> ("Multi-Year Option")<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a long-term Investment Option, providing a guaranteed interest rate for a <br> guaranteed period (three, five, seven, or ten years) ("Multi-Year Option Term"). You may establish one or <br> more new Multi-Year Option guarantee periods (Multi-Year Options Bands) with a minimum amount, as <br> described in the Contract, per Multi-Year Option Band in states in which the Multi-Year Option has been <br> approved. The Company may change the minimum from time to time. Each Multi-Year Option Band will be <br> guaranteed to receive a stated rate of interest through the end of the selected Multi-Year Option term. We <br> guarantee your Multi-Year Option will earn at least the lowest minimum interest rate applicable to any of the <br> fixed interest options in the Contract. See your Contract for minimum investment amounts and other <br> requirements and restrictions. This option may not be available in all employee plans or states. All Multi-Year <br> Option Terms may not be available. See your investment professional for information on the Multi-Year <br> Option Terms that are currently offered.<br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6- month & <br> DCA Fixed Account 12-month<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a short-term Investment Option providing a guaranteed interest rate for money <br> invested in the option but prior to being systematically transferred to the designated Variable Investment <br> Options. It is credited with interest rates set by VALIC. The account is guaranteed to earn at least a minimum <br> rate of interest as shown in your Contract. Purchase Payments allocated to the DCA Fixed Account Option will <br> receive a current rate of interest. Purchase Payments may be credited with a different rate of interest <br> depending on the time period in which it is received by VALIC. This option may not be available in all states or <br> in employer sponsored plans.<br>|

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Generally, for most series of Portfolio Director, a current interest rate is declared at the beginning of each calendar month and is applicable to new contributions received during that month. Interest is credited to the account daily and compounded at an annual rate. You may obtain current interest rates by calling the Annuity Service Center or speaking with your investment professional. VALIC guarantees that all contributions received during a calendar month will receive that month's current interest rate for the remainder of the calendar year. Our practice, though not guaranteed, is to continue crediting interest at that same rate for such purchase payments for one additional calendar year. Thereafter, the amounts may be consolidated with contributions made during other periods and will be credited

with interest at a rate which the Company declares annually on January 1 and guarantees for the remainder of the calendar year. The interest rates and periods may differ between the series of Portfolio Director. Some series of Portfolio Director may offer a higher interest rate on Fixed Account Plus. This interest crediting policy is subject to change, but any changes made will not reduce the current rate below your contractually guaranteed minimum or reduce monies already credited to the account.

Your fixed account interest crediting rates are guaranteed for amounts allocated to each fixed account for up to 1 year. Thereafter, for Fixed Account Options, VALIC will declare annual fixed account crediting rates each Contract year, and this rate will never be lower than the minimum guaranteed rate as

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referenced in your Contract. Factors that influence the declared fixed account renewal rate include, but are not limited to, the level of US treasury rates, credit spreads on corporate bonds and other fixed income instruments, company asset-liability matching strategies, the length of the Contract withdrawal charge period and the number of years since your annuity Contract was issued.

*Dollar Cost Averaging Fixed Accounts* 

You may invest initial Purchase Payments in the Dollar Cost Averaging ("DCA") Fixed Accounts, if available. You may also invest a series of Subsequent Purchase Payments received over the first 30 days from the date of the initial Purchase Payment. Transfers and exchanges from any affiliated VALIC product are not permitted. See "Dollar Cost Averaging Program" below for more information.

The minimum Purchase Payment amounts for the DCA Fixed Account Options are as follows:

**DCA Fixed Account Minimum Purchase Payment** 

6-Month = $25,000 \* <br>12-Month = $25,000 \*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You may not make a transfer from a Variable Investment Option or available Fixed Account Option into a DCA Fixed Account Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless otherwise directed by you, any Purchase Payment less than the above minimum amounts will automatically be allocated to an available Variable Investment Option or Fixed Account Option according to your current allocation instructions on file.

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\*

The DCA Fixed Account Minimum Purchase Payment for Contracts issued in Oregon is $5,000.

*DCA Interest Rate Crediting*. DCA Fixed Accounts credit a fixed rate of interest and can only be elected to facilitate a DCA Program. Interest is credited to amounts allocated to the DCA Fixed Accounts while your money is transferred to available Investment Options over certain specified time frames. The interest rates applicable to the DCA Fixed Accounts may differ from those applicable to any other Fixed Account Option but will never be less than the minimum guaranteed interest rate specified in your Contract. The minimum guaranteed interest rate can vary but is never lower than 1%. However, when using a DCA Fixed Account, the annual interest rate is paid on a declining balance as you systematically transfer your money to available Investment Options. Therefore, the actual effective yield will be less than the stated annual crediting rate. We reserve the right to change the availability of DCA Fixed Accounts offered, unless state law requires us to do otherwise.

**Dollar Cost Averaging Program** 

Under the DCA Program, systematic transfers of the value will be processed from the applicable DCA Fixed Account ("source account") to any available Variable Investment Options ("target account"). For example, if you select the DCA Fixed Account 6-month Option, 1/6 of your Account Value will be transferred the first month, 1/5 of the Account Value the 2nd month, 1/4 of the Account Value the 3rd month, 1/3 of the Account Value the 4th month, 1/2 the Account Value the 5th month and the balance of the option the 6th month. At the end of the selected period, there should be no money left in the DCA Fixed Account Option.

The DCA Program allows you to invest gradually in available Variable Investment Options at no additional cost. The DCA Program is designed to lessen the impact of market fluctuations on your investment. However, the DCA Program can neither guarantee a profit nor protect your investment against a loss. When you elect the DCA Program, you are continuously investing in securities fluctuating at different price levels. You should consider your risk tolerance for investing through periods of fluctuating price levels.

*Example of DCA Program* 

Assume that you deposit the minimum of $25,000 into the DCA Fixed Account – 6 month Option. The DCA program will systematically transfer the deposits and interest from the DCA Fixed Account to your designated Variable Investment Options. Assume a DCA Fixed Account earns a minimum interest credited rate of 1%, and these amounts are transferred to a single Variable Investment Option over the six months, and that this Variable Investment Option has the Unit Values shown below. For this example, the DCA Program purchases would have the following values:

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| | | |
|:---|:---|:---|
| **Month** | **Unit Value** | **Units Purchased** |
| 1 | $7.50 | 556 |
| 2 | $5.00 | 835 |
| 3 | $10.00 | 418 |
| 4 | $7.50 | 557 |
| 5 | $5.00 | 837 |
| 6 | $7.50 | 558 |

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You paid an average price of only $6.67 per Unit over six months, while the average market price actually was $7.08. With Dollar Cost Averaging, you automatically buy more Units when the market price is low and fewer Units when the market price is high. This example is for illustrative purposes only.

*DCA Program Guidelines* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Options are not available as target accounts for the DCA Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers occur on a monthly periodic schedule.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers resulting from your participation in the DCA Program are not counted towards the number of transfers allowed per contract year.

*Termination of DCA Program* 

You may terminate the DCA Program at any time. If you terminate the DCA Program and money remains in the applicable DCA Fixed Account, we transfer the remaining money according to your current allocation instructions on file. Upon notification of your death, we will terminate the DCA Program unless your Beneficiary instructs us otherwise and we will transfer the remaining money according to the current allocation instructions on file.

We reserve the right to terminate or modify the DCA Program at any time and for any reason. Any such termination or modification, however, will not affect Contract Owners currently enrolled in a DCA Fixed Account Option.

**Impact of Advisory Program Fees** 

Please note that if you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, advisory fees deducted from Account Value will also result in a reduction of any Account Value allocated to the Fixed Account Option(s) by the dollar amount assessed for the Advisory Program Fee.

**Charges and Adjustments**

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By investing in Portfolio Director, you may be subject to these fees and charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Account Maintenance Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Surrender Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Premium Tax Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Separate Account Charges (referred to as "Base Contract Expenses")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Portfolio Company Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advisory Program Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Living Benefit Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Multi-Year Enhanced Option Adjustment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other Charges

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Plus Excess Transfer Charge

These fees and charges are applied to the Variable Investment Options and Fixed Account Options in proportion to the Account Value as explained below. Unless we state otherwise, we may profit from these fees and charges. For additional information about these fees and charges, see the "*Fee Table*" section in this Prospectus. In addition, certain charges may apply to the Multi-Year Enhanced Option, which are discussed at the end of this section.

**Account Maintenance Charge (Series 1 and 9 Contracts Only)** 

Under a series 1 or 9 Contract, during the Purchase Period, an account maintenance charge of $3.75 will be deducted on the last Business Day of each calendar quarter if any of your money is invested in the Variable Investment Options. We will sell Purchase Units from your account to pay the account maintenance charge. If all your money in the Variable Investment Options is withdrawn, or transferred to a Fixed Account Option, the charge will be deducted at that time. The

charge will be assessed pro-rata among the Variable Investment Options that make up your Account Value. We do not charge an account maintenance charge during the Payout Period.

The account maintenance charge is paid to the Company to reimburse us for our administrative expenses. This includes the expense for establishing and maintaining the record keeping for the Variable Investment Options. Certain Contracts may not be subject to this charge.

**Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only)** 

Under a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract, when you withdraw money from your account, you may be subject to a surrender charge that will be deducted from the amount withdrawn. Surrender charges reimburse us for the cost of Contract sales, expenses associated with issuing your Contract, and other acquisition expenses.

If you request a partial surrender of your Account Value, a surrender charge would apply to any amount that exceeds the 10% free withdrawal allowed for any Participant Year. See below for exceptions to this charge. It is assumed that any new Purchase Payments are withdrawn before older ones; thus, the last dollar in is the first dollar out. See below for exceptions to this procedure. For information about your right to surrender, see the "*Surrenders and Withdrawals*" section in this prospectus.

Amounts exchanged from other contracts issued by the Company may or may not be subject to a surrender charge. After the exchange, it is assumed that any new Purchase Payments are withdrawn before the exchanged amount.

*Amount of Surrender Charge* 

A surrender charge will be the lesser of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount of all Purchase Payments received during the past 60 months; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount withdrawn.

*10% Free Withdrawal* 

In any Participant Year, up to 10% of the Account Value may be withdrawn without a surrender charge. The surrender charge will apply to any amount withdrawn that exceeds this 10% limit. The percentage withdrawn will be determined by dividing the amount withdrawn by the Account Value just prior to the withdrawal. If more than one withdrawal is made during a Participant Year, each percentage will be added to determine at what point the 10% limit has been reached.

These 10% withdrawals without charge do not reduce Purchase Payments for the purpose of computing the surrender charge. If a surrender charge is applied to all or part of a Purchase Payment, no surrender charge will be applied to such Purchase Payment (or portion thereof) again. There may be a 10% premature distribution tax penalty for taking a withdrawal prior to age 59½. See the "*Taxes*" section for more information.

*Exceptions to Surrender Charge* 

No surrender charge will be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If no Purchase Payments have been received during the 60 months prior to the date of surrender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 15 years or longer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 5 years or longer, and you have attained age 59½;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To "No Charge Systematic Withdrawals";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under certain contracts, to withdrawals under the No Charge Minimum Distribution provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are at least 55 years old, are no longer employed by the employer that established the plan, and your

account under the plan was established at least 5 years prior to the date of surrender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lesser of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received during the most recent 60 months; or five percent (5%) of the total amount withdrawn.

We may waive any otherwise applicable surrender charge if you reinvest the surrender proceeds in another VALIC product. You will, however, be subject to a surrender charge, if any, in the newly acquired product under the same terms and conditions as the original product. For purposes of calculating any surrender charge due, you will be considered to have acquired the new product as of the date you acquired the original product.

**Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** 

Transfers from the Fixed Account Plus option are limited to 20% per Participant Year. See **Transfers Between Investment Options**. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. This transfer charge will be paid to the Company to account for administrative expenses associated with the Fixed Account Options. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation.

*Exceptions to Fixed Account Plus Excess Transfer Charge* 

This charge will not be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under any series other than series 11 Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To transfers from the Fixed Account Option within the 20% per Participant Year limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the

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impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you retire or are separated from service.

**Premium Tax Charge** 

Premium taxes are imposed by some states, cities, and towns. The rate will range from 0% to 3.5%, depending on whether the Contract is qualified or nonqualified. Such tax will be deducted from the Account Value when annuity payments are to begin. We will not profit from this charge. See Appendix C for variations of the premium tax charge that may be applicable in your state.

**Separate Account Charges** 

The Separate Account Charge (also referred to as a Base Contract Expense) is 1.00% and is deducted daily from the average daily net asset value allocated to the Variable Investment Option(s). If you are invested in series 1 or 9, the maximum Base Contract Expense in the Fee Tables reflects the inclusion of the annual maintenance charge and accordingly will reflect a higher number. This Separate Account Charge is guaranteed and cannot be increased by the Company. For a discussion of how the Separate Account Charges impact the calculation of each Division's unit value, see "Purchase Unit Value" in the SAI.

The Separate Account Charges compensate the Company for assuming certain risks under Portfolio Director. The Company assumes the obligation to provide payments during the Payout Period for your lifetime, no matter how long that might be. In addition, the Company assumes the obligation, during the Purchase Period, to pay an interest guaranteed death benefit. The Separate Account Charges also may cover the costs of issuing and administering Portfolio Director and administering and marketing the Variable Investment Options, including but not limited to enrollment, participant communication and education. Separate Account Charges are applied to Variable Investment Options during both the Purchase Period and Payout Period.

The Separate Account Charges may be reduced if issued to certain types of plans that are expected to result in lower costs to VALIC, as discussed below. The Separate Account Charges are guaranteed and may not be increased for the life of your Contract.

*Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* 

We may, as described below, determine that the account maintenance charge, surrender charges, or Separate Account Charges for Portfolio Director may be reduced or waived. We may reduce or waive these charges if we determine that your

retirement program will allow us to reduce or eliminate administrative or sales expenses that we usually incur for retirement programs. There are a number of factors we will review in determining whether your retirement program will allow us to reduce or eliminate these administrative or sales expenses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The type of retirement program. Certain types of retirement programs, because of their stability, can result in lower administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The nature of your retirement program. Certain types of retirement programs, due to the types of employees who participate, experience fewer account surrenders, thus reducing administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other factors of which we are not presently aware that could reduce administrative costs.

We review the following additional factors to determine whether we can reduce or waive account maintenance charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program. Purchase Payments received no more than once a year can reduce administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The administrative tasks performed by your employer for your retirement program.

The employer sponsoring your retirement program can, through its method of remitting Purchase Payments, reduce administrative costs.

We review the following additional factors to determine whether we can reduce surrender charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program. A retirement program that involves a larger group of employees may allow us to reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The total amount of Purchase Payments to be received for your retirement program. Larger Purchase Payments can reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The use of mass enrollment or related administrative tasks performed by your employer for your retirement program.

We review the following additional factors to determine whether we can reduce the Separate Account Charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount of your retirement program's periodic Purchase Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The method of remitting periodic Purchase Payments.

In no event will the reduction or waiver of fees and charges be permitted where the reduction or waiver will unfairly discriminate against any person.

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Additionally, under certain circumstances, and at VALIC's sole discretion, VALIC may issue a Contract credit for amounts transferred on behalf of a group contract from another plan or provider, pursuant to the terms of the Contract.

**Payments from Portfolio Companies/Platform Charges** 

Some of the Portfolio Companies or their affiliates have an agreement with the Company to pay the Company for administrative, recordkeeping and shareholder services it provides to the underlying Portfolio Company. We receive payments for the administrative services we perform, such as account recordkeeping, mailing of Portfolio Company related information and responding to inquiries about the Portfolio Companies. Currently, these payments range from 0.00% to 0.35% of the market value of the assets invested in the underlying Portfolio Company as of a certain date, usually paid at the end of each calendar quarter.

We may also receive what is referred to as "12b-1 fees" and non-12b-1 service fees from certain Portfolio Companies. These fees are designed to help pay for our direct and indirect distribution costs. The 12b-1 fees and non-12b-1 service fees are generally equal to 0.25% of the daily market value of the assets invested in the underlying Portfolio Company.

From time to time, some of these arrangements may be renegotiated so that we receive a greater payment than previously paid.

If we do not have an arrangement to receive payments from certain Portfolio Companies, we may charge a Platform Charge in order to help us manage our costs in light of the fact that the Portfolio Company is not paying us or is paying us too little. The Platform Charges are reflected in "Appendix A – Investment Options Available Under the Contract" to help you understand the cost of investing in certain Variable Investment Options.

**Portfolio Company Expenses** 

Charges deducted from, and expenses paid out of, the assets of the Portfolio Company are described in the prospectuses for the Portfolio Companies.

**Living Benefit Fees** 

If you elected an optional Living Benefit, information about the additional fees to which you are subject can be found under "Fee Tables" and "Appendix B – Living Benefits."

**Multi-Year Enhanced Option Adjustment** 

Under the Multi-Year Option, a withdrawal will generally be subject to a surrender charge if it exceeds the amount of any free withdrawal amount permitted under your Contract. Withdrawals or transfers from an Multi-Year Option Band prior to the end of the Multi-Year Option term will be subject to a market value adjustment, unless a waiver applies. This

adjustment may be positive or negative, based upon the differences in selected interest rates at the time the Multi-Year Option Band was established and at the time of the withdrawal. This adjustment will not apply upon the Owner's death, or if the Contract Owner is not a natural person, upon the death of the Annuitant. This adjustment applies independently from surrender charges and can apply to a 10% free withdrawal. The adjustment may be waived for distributions that are required under your Contract. It will also be waived for 30 days following the end of an Multi-Year Option term. Loans are not available from the Multi-Year Option. Please review your Contract for additional information on the Multi-Year Option.

**Advisory Program Fees** 

If you enrolled in an Advisory Program, your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of the Advisory Program Fee pursuant to authorizations that you have provided to your Investment Adviser. The authorization for VALIC to deduct amounts from your Contract for payment of the Advisory Program Fee is included in the Advisory Agreement you signed with your Investment Adviser upon enrollment in the Advisory Program. The Advisory Program Fee is charged by and paid to your Investment Adviser, not VALIC, for the costs associated with administering the Advisory Program and is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Deduction of the Advisory Program Fee may reduce certain benefits guaranteed under the Contract, including Contract death benefits, optional living benefits and annuity benefits and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Impact of Advisory Program Fees** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" and "*Annuity Period*" sections for more details. Please consult your tax professional regarding the impact of deducting advisory fees from Account Value before making any election to do so.

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**Other Charges** 

We reserve the right to charge for certain taxes that we may have to pay. This could include federal income taxes. Currently, no such charges are being made.

Fees for plan services provided by parties other than VALIC or its affiliates maybe assessed to participant accounts upon the direction or authorization of a plan representative. Additional fees may be withdrawn from client accounts in accordance with a client's independent investment advisory contract. Such withdrawals will be identified on applicable participant account reports or client statements.

Plan loans from the Fixed Account Options may be allowed by your employer's plan. Refer to your plan for a description of

charges and other information concerning plan loans. We reserve the right to charge a fee of up to $75 per loan (if permitted under state law) and to limit the number of outstanding loans.

**Exchange Privilege**

From time to time, we may offer to exchange certain fixed or variable contracts into Portfolio Director. Such an exchange offer will be made in accordance with applicable federal securities laws and state insurance rules and regulations. We will provide the specific terms and conditions of any such exchange offer at the time the offer is made.

**General Description of Contracts**

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**About the Contracts** 

The Contracts were developed to help you save money for your retirement and are available to individuals who are Participants in a group Contract through an employer-sponsored qualified retirement plan as well as individuals investing in the Contract through an IRA or other non-qualified arrangements. The Contracts offer a combination of Variable Investment Options and Fixed Account Options that you, as a Participant or an Individual, may choose to invest in to help you reach your retirement savings goals. You should consider your personal risk tolerances and your retirement savings plan in choosing your investment options.

A group Contract is a Contract that is purchased by an employer for a retirement plan. The employer and the plan documents will determine how contributions may be made to the Contracts. For example, the employer and plan documents may allow contributions to come from different sources, such as payroll deductions or money transfers. The amount, number, and frequency of your Purchase Payments may also be determined by the retirement plan for which your Contract was purchased. Likewise, the employer's plan may have limitations on partial or total withdrawals (surrenders), the start of annuity payments, and the type of annuity payout options you select. For Contracts purchased under a retirement plan, the plan may designate the available Investment Options under the Contract and may be required to provide direction regarding additions or replacements of Investment Options. Plans subject to Title I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") may be subject to additional plan and Contract provisions.

If you are purchasing the Contract as an individual, through certain after-tax arrangements such as an IRA or as a non-qualified contract, you are the owner of the Contract and retain the rights and authority to make decisions about your Contract including contributions, investment allocations, and

annuitization, subject to limitations discussed in this Prospectus. For example, if you purchase your Contract as a tax-deferred, non-qualified annuity, the Public Funds included in Appendix A will not be available as Variable Investment Options in your Contract.

The retirement savings process with the Contracts will involve two stages: the accumulation Purchase Period, and the annuity Payout Period. The accumulation period is when you make contributions into the Contracts called "Purchase Payments." The Payout Period begins when you decide to annuitize all or a portion of your Account Value. You can select from a wide array of payout options including both fixed and variable payments. For certain types of retirement plans, such as 403(b) plans, there may be statutory restrictions on withdrawals as disclosed in the plan documents. Refer to your plan document for guidance and any rules or restrictions regarding the accumulation or annuitization periods. For more information, see the "*Purchases and Contract Value*" and "*Annuity Period*" sections in this prospectus.

**For material state variations associated with the Contracts, see *Appendix C*.** 

**About the General Account** 

Any obligations under the Contract that are funded by our General Account, including death benefits and the Fixed Account Options, are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

If you have questions about your Contract, call your investment professional or contact us at 1-800-448-2542.

**About the Series** 

This prospectus describes 12 different Classes, which we call series, of the Contract. There are differences among the series with respect to surrender charges, other fees and charges,

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restrictions, and features. Each series is offered to certain group plans or through certain markets. The following table reflects the group plans and markets through which the series are offered.

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| | |
|:---|:---|
| **Series** | **Group Plans / Markets** |
| Series 1 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Plans; <br> Individual Retirement Accounts (IRAs)<br>|
| Series 2 | Higher Education Plans |
| Series 3<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 4<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 5 | Healthcare Plans; Higher Education Plans; <br> K-12 Plans<br>|
| Series 6 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Section 457 <br> Defined Contribution Plans; <br> Section 501(c)(3) Organization Plans<br>|
| Series 7 | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 8<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 9 | Certain Non-qualified Arrangements |
| Series 10<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 11 | Higher Education Plans |
| Series 12 | Government Section 457 Defined <br> Contribution Plans<br>|

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<sup>(1)</sup> Not available for new sales. New participants are allowed under existing Contracts.

<sup>(2)</sup> Not available for new sales. No new participants are allowed under existing Contracts.

**Transfers Among the Investment Options** 

You may transfer all or part of your Account Value between the various Variable Investment Options and Fixed Account Options in Portfolio Director up to the applicable limits without a charge. Transfers may be made during the Purchase Period or during the Payout Period, subject to certain restrictions. If you are enrolled in an Advisory Program, in order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program. **We reserve the right to limit the number, frequency (minimum period of time between transfers) or dollar amount of transfers you can make and to restrict the method and manner of providing or communicating transfers or reallocation instructions.** You will be notified of any changes to this policy through newsletters or information posted online at www.corebridgefinancial.com/rs.

*During the Purchase Period — Policy Against Market Timing and Frequent Transfers* 

VALIC has a policy to discourage excessive trading and market timing. Our Investment Options are not designed to accommodate short-term trading or "market timing" organizations, or individuals engaged in certain trading strategies, such as programmed transfers, frequent transfers, or transfers that are large in relation to the total assets of a Portfolio Company. These trading strategies may be disruptive to Portfolio Companies by diluting the value of the Portfolio Company shares, negatively affecting investment strategies and increasing portfolio turnover. Excessive trading may also raise Portfolio Company expenses, such as recordkeeping and transaction costs, and can potentially harm Portfolio Company performance. Further, excessive trading may harm Portfolio Company investors, as the excessive trading takes security profits intended for the entire Portfolio Company and could force securities to be sold to meet redemption needs. The premature selling and disrupted investment strategy could cause the Portfolio Company's performance to suffer, and exerts downward pressure on the Portfolio Company's price per share.

Accordingly, VALIC implemented certain policies and procedures intended to discourage short-term trading. If you sell Purchase Units in a Variable Investment Option valued at $5,000 or more, whether through an exchange, transfer, or any other redemption, you will not be able to make a purchase of $5,000 or more in that same Variable Investment Option for 30 calendar days.

This policy applies only to investor-initiated trades of $5,000 or more, and does not apply to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Plan-level or employer-initiated transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase transactions involving transfers of assets or rollovers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Retirement plan contributions, loans, and distributions (including hardship withdrawals);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Roth IRA conversions or IRA recharacterizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic purchases or redemptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic account reallocations and/or rebalancing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trades of less than $5,000.

Transfers resulting from your participation in the GPS Portfolio Manager Program or GPA Program administered by VALIC Financial Advisors, Inc. will not count against these transfer limitations.

As described in a Portfolio Company's prospectus and statement of additional information, in addition to the above, Portfolio Company purchases, transfers and other redemptions may be subject to other investor trading policies, including redemption fees, if applicable. Certain Portfolio Companies may set limits on transfers in and out of a Portfolio Company within a set time

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period in addition to or in lieu of the policy above. Also, an employer's benefit plan may limit an investor's rights to transfer.

We intend to enforce these investor trading policies uniformly. We make no assurances, however, that all the risks associated with frequent trading will be completely eliminated by these policies and/or restrictions. If we are unable to detect or prevent

market timing activity, the effect of such activity may result in additional transaction costs for the investment options and dilution of long-term performance returns. Thus, your account value may be lower due to the effect of the extra costs and resultant lower performance. We reserve the right to modify these policies at any time.

The Fixed Account Options are subject to additional restrictions:

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| | | | |
|:---|:---|:---|:---|
| **Fixed Account Option** | **Value** | **Frequency** | **Other Restrictions** |
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; Up to 20% per <br> Participant Year<br>| &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If you transfer assets from Fixed Account Plus to another investment <br> option, any assets transferred back into Fixed Account Plus within 90 <br> days may receive a different rate of interest than your new Purchase <br> Payments.<sup>(1)</sup><br>|
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If Account Value is less than or equal to $500. |
| Short-Term Fixed Account: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; After a transfer into the Short-Term Fixed Account, you may not make <br> a transfer from the Short-Term Fixed Account for 90 days.<sup>(2)</sup><br>|
| Multi-Year Option<sup>(3)</sup>: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Withdrawals or Transfers subject to market value adjustment if prior to <br> the end of an MVA term. Each MVA Band will require a minimum <br> transfer amount, as described in the Contract.<sup>(4)</sup><br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6-month & <br> DCA Fixed Account 12-<br> month<sup>(5)</sup>:<br>| &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Transfers can be made from a DCA Fixed Account Option at any time. <br> Only money remaining in the Option will earn interest. Transfers from <br> other Options are not allowed into the DCA Fixed Account Options at <br> any time.<br>|

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<sup>(1)</sup>

If multiple transfers are made in a Participant Year, the percentages of the Account Value transferred each time will be added together to determine the 20% transfer limit for that Certificate Year. Your employer may further limit or expand the restrictions. We may charge for those modified restrictions if specified in your employer's retirement plan. For Series 11 Contracts, see **Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** for transfers in excess of the 20% limitation.

<sup>(2)</sup>

VALIC may change this holding period at any time in the future, but it will never be more than 180 days.

<sup>(3)</sup>

The Multi-Year Option may not be available unless it has been selected as an option for your employer's retirement plan.

<sup>(4)</sup>

The minimum transfer amount may be changed from time to time by the Company.

<sup>(5)</sup>

The DCA Fixed Account 6-month & DCA Fixed Account 12-month Options are only available for individual retirement annuities.

Contracts issued in connection with certain plans or programs may have different transfer restrictions due to the higher interest rates offered on Fixed Account Plus. From time to time we may waive the 20% transfer restriction on Fixed Account Plus for transfers to the Multi-Year Option or to other Investment Options.

*Communicating Transfer or Reallocation Instructions* 

Transfer instructions may be given by telephone, through the internet, using the self-service automated phone system, or in writing. We encourage you to make transfers or reallocations through the internet or the self-service automated phone service for most efficient processing. We will send a confirmation of transactions to the Participant within five days from the date of the transaction. It is your responsibility to verify the information

shown and notify us of any errors within 30 calendar days of the transaction.

Generally, no one may give us telephone instructions on your behalf without your written or recorded verbal consent. Investment professionals or authorized broker-dealer employees who have received client permission to perform a client-directed transfer of value via the telephone or internet will follow prescribed verification procedures.

When receiving instructions over the telephone or online, we follow appropriate procedures to provide reasonable assurance that the transactions executed are genuine. Thus, we are not responsible for any claim, loss or expense from any error resulting from instructions received over the telephone or online. If we fail to follow our procedures, we may be liable for any losses due to unauthorized or fraudulent instructions. We

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reserve the right to modify, suspend, waive or terminate these transfer provisions at any time.

*Effective Date of Transfer* 

The effective date of a transfer will be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The date of receipt, if received in good order by us before Market Close; otherwise,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The next date values are calculated.

*Transfers During the Payout Period* 

During the Payout Period, transfer instructions must be given in writing and mailed to the Annuity Service Center. Transfers may be made between the Contract's Investment Options subject to the following limitations:

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| | | |
|:---|:---|:---|
| **Payout Option** | **% of Account Value** | **Frequency** |
| Variable Payout: | Up to 100% | Once every 365 days |
| Combination Fixed and Variable Payout: | Up to 100% of money in variable option payout | Once every 365 days |
| Fixed Payout: | Not permitted | N/A |

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**Other Contract Features**

*Changes That May Not Be Made* 

The following terms in the Contracts may not be changed once your account has been established:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner (except for an individual nonqualified Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annuitant.

*Change of Beneficiary* 

The beneficiary (if not irrevocable) may usually be changed ay any time. Two or more Beneficiaries may be designated to receive separate percentage interests in the death benefits payable under the contract. Each such Beneficiary may separately exercise the rights that a Beneficiary has under the Contract.

One of more contingent Beneficiaries may be designated. A contingent Beneficiary will receive benefits payable upon the Participant's death if all of the primary Beneficiaries have died prior to the Participant. A contingent Beneficiary will have all of the same rights as a Beneficiary during the Purchase Period or Payout Period.

Under some retirement programs, the right to name a Beneficiary other than the spouse or to change a Beneficiary is subject to approval by the spouse. Also, the right to name a Beneficiary other than the spouse may be subject to certain laws and regulations applicable to the plan.

If the Annuitant dies, and there is no Beneficiary, any death benefit will be payable to the Annuitant's estate, except in the case of a nonqualified Contract where the Contract Owner and

Annuitant are different, in which case the death benefit is paid to the Contract Owner or the Contract Owner's estate.

If a Beneficiary dies prior to the Participant, that Beneficiary's interest will be divided pro rata among the remaining Beneficiaries.

If a Beneficiary dies while receiving payments, and there is no co-Beneficiary to continue receiving payments, any amount still due will be paid to the Beneficiary's estate.

*Contingent Owner* 

The Contract Owner may name a contingent owner under an individual nonqualified Contract. During the Purchase Period, the contingent owner may be changed.

*We Reserve Certain Rights* 

We may amend the Contracts to comply with changes in federal tax, securities, or other laws. We may also make changes to the Variable Investment Options offered under the Contracts. For example, we may add new Variable Investment Options to expand the offerings for an asset class. We may stop accepting allocations and/or investments in a particular Variable Investment Option when not in the best interest of the Contract Owner or the Separate Account, such as when the shares of the underlying Portfolio Company are no longer available for investment or if, for example, the underlying Portfolio Company is dealing with material regulatory and/or legal issues, sustained performance downturns, or significant increases in expenses. We may move assets and re-direct future premium allocations from one Variable Investment Option to another in accordance with federal and state law and, in some cases, with SEC approval. The new Variable Investment Option offered may have different fees, expenses, objectives, strategies and risks.

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We may restrict your ability to combine Contracts and may modify or suspend or impose additional or different conditions with respect to options available under the Contracts, as may be allowed by federal or state law. We will not make any changes to the Contracts without Contract Owner and/or Participant (as applicable) permission except as may be allowed by federal or state law. We may add endorsements to the Contracts that would apply only to new Contract Owners and Participants after the effective date of the changes. These changes would be subject to approval by the Company and may be subject to approval by the SEC.

We reserve the right to operate VALIC Separate Account A as a management investment company under the applicable securities laws, and to deregister VALIC Separate Account A under applicable securities laws, if registration is no longer required.

We reserve the right to close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Variable Investment Options, with advance written notice. We may make the Fixed Account Options available or close the Fixed Account Options as frequently as we determine at any point in time while the Contract is in force, provided we give advance written notice in each case.

*Relationship to Employer's Plan* 

If the Contract is being offered under a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contracts in this prospectus.

**Annuity Period**

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The Annuity Period, also referred to as the Payout Period, begins when you decide to retire or when you elect to annuitize all or a portion of your Account Value. If your employer's plan permits, you may apply any portion of your Account Value to one of the types of payout options listed below. However, if you are Participant in an employer-sponsored retirement plan, the payout options available to you may differ or be limited based on your employer's plan.

You may choose to have your Payout Payments on a fixed, a variable, or a combination of fixed and variable basis. If you do not elect the basis upon which your Payout Payments will be made, the Payout Payments will mirror the allocation of Investment Options in your Contract upon annuitization. When you choose to have your Payout Payments on a variable basis, you may keep the same Variable Investment Options in which your Purchase Payments were made, or transfer to different ones. For example, if your Account Value is allocated solely to the Variable Investment Options upon annuitization and you have not made an election, your Payout Payments will be made on a variable basis, or if your Account Value is allocated solely to a Fixed Account Option, your Payout Payments will be made on a fixed basis. Similarly, if your Account Value is allocated to both Variable Investment Options and Fixed Account Options, Payout Payments will be made on a combination of fixed and variable basis.

**Payout Payments on a Fixed Basis** 

Under a payout on a fixed basis you will receive payments that are fixed and guaranteed by the Company. The amount of these payments will depend on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Type and duration of payout option chosen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your age or your age and the age of your survivor<sup>(1)</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your gender or your gender and the gender of your survivor<sup>(1)</sup> (IRAs and certain nonqualified Contracts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The portion of your Account Value being applied; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The payout rate being applied and the frequency of the payments.

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<sup>(1)</sup>

This applies only to joint and survivor payouts.

If the benefit would be greater, the amount of your payments will be based on the current payout rate the Company uses for immediate annuity contracts.

**Assumed Investment Rate** 

An "Assumed Investment Rate" or "AIR" is the rate used to determine your first monthly Payout Payment per thousand dollars of account value in your Variable Investment Option. When you decide to enter the Payout Period, you will select your Payout Option, your Annuity Date, and the AIR. If you choose a higher AIR, the initial Annuity Payment will be higher, but later payments will increase more slowly during periods of good performance and decrease faster during periods of poor investment performance Once the AIR is established, it cannot be changed. Rates of 3%, 3.5%, 4.5%, 5% or a higher rate may be chosen if permitted by state law and regulations. If no AIR is chosen, the AIR will be 3.5%. The dollar amount of the variable income payments stays level if the net investment return equals the AIR. Your choice of AIR may affect the duration and frequency of payments, depending on the Payout Option selected. For example, a higher AIR will generate a higher initial Payout Payment, but as Payout Payments continue they may become smaller, and eventually could be less than if you had initially selected a lower AIR. The frequency of the Payout Payments may lessen to ensure that each Payout Payment is at least $25 per month.

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**Payout Payments on a Variable Basis** 

With a payout on a variable basis, you may select from your existing Variable Investment Options. Your payments will vary accordingly. This is due to the varying investment results that will be experienced by each of the Variable Investment Options you selected. The Payout Unit value is calculated just like the Purchase Unit value for each Variable Investment Option except that the Payout Unit value includes a factor for the AlR you select. For additional information on how Payout Payments and Payout Unit Values are calculated, see the SAI*.* 

In determining your first Payout Payment, an AIR of 3.5% is used (unless you select a higher rate as allowed by state law). If the net investment experience of the Variable Investment Option exceeds your AIR, your subsequent payments will be greater than your first payment. If the investment experience of the Variable Investment Option is lower than your AIR, your subsequent payments will be less than your first payment.

**Payout Payments on a Combination of a Fixed and Variable Basis** 

With a combination fixed and variable payout, you may choose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• From your existing Variable Investment Options (payments will vary); with a

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed payout (payment is fixed and guaranteed).

**Partial Annuitization** 

You may choose to annuitize a portion of the Account Value. This will, in essence, divide the Account Value into two parts. The current non-annuitized part would continue as before and you can continue to take withdrawals on this part of the Account. The annuitized part will effectively be moved to a new Payout Payment account, which will not allow any additional withdrawals. Thus, the death benefit in such a situation would be reduced to the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account, such as a payout for a guaranteed period. Full or partial commutations are not permitted.

**Payout Date** 

The payout date is the date elected by you on which the annuity Payout Payments will start. The date elected must be the first of any month. A request to start payments must be received in the Annuity Service Center on a form or through other media approved by VALIC. This request must be received by VALIC by at least the fifteenth (15th) day of the month prior to the month you wish your annuity payments to start. Your account will be valued ten days prior to the beginning of the month in which the Payout Payments will start.

The following additional rules also apply when determining the payout date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for a nonqualified Contract, an IRA, or a Roth IRA, is established by the terms of the contract, and generally can be any time from age 50 to age 85, and may not be later than age 85 without VALIC's consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for all other qualified Contracts is generally subject to the terms of the employer-sponsored plan (including 403(b) plans and programs) under which the Contract is issued and the federal tax rules governing such Contracts and plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Distributions from qualified Contracts issued under employer-sponsored retirement plans generally are not permitted until after you stop working for the employer sponsoring the plan, unless you have experienced a qualifying financial hardship (or in the case of a 457(b) plan, an unforeseeable emergency) or unless you have become disabled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In certain cases, and frequently in the case of your voluntary deferrals to a 403(b) or a 401(k) plan, you may begin taking distributions when you attain age 59½ even if you are still working for the employer sponsoring the plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Except in the case of nonqualified Contracts, IRAs, and Roth IRAs, distributions generally must begin no later than April 1 following the calendar year you reach age 72 or the calendar year in which you retire, if later. Similar rules apply to IRAs, however distributions from those Contracts may not be postponed until after retirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All Contracts require distributions to commence within a prescribed period after the death of the Contract Owner/Participant, subject to the specific rules which apply to the type of plan or arrangement under which the contract is issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract may also impose minimum amounts for annuity payments, either on an annual or on a more frequent periodic basis.

For additional information on plan-level distribution restrictions and on the minimum distribution rules that apply to payments under 403(b), 401, 403(a) and 457 plans, simplified employee plans ("SEPs") or IRAs, see the "*Taxes*" section in this prospectus and the SAI.

**Payout Options** 

You may specify the manner in which your Payout Payments are made. You may select one of the following options:

1. ***Life Only*** — payments are made only to you during your lifetime. Under this option there is no provision for a death

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benefit for the Beneficiary. For example, it would be possible under this option for the Annuitant to receive only one Payout Payment if the Annuitant died prior to the date of the second payment, or two if the Annuitant died before the third payment.

2. ***Life with Guaranteed Period*** — payments are made to you during your lifetime, but if you die before the guaranteed period has expired, your Beneficiary can receive payments for the rest of your guaranteed period or take a lump-sum distribution.

3. ***Life with Cash or Unit Refund*** — payments are made to you during your lifetime. These payments are based upon your life expectancy and will continue for as long as you live. If you do not outlive the life expectancy calculated for you, upon your death, your Beneficiary may receive an additional payment. The additional payment under a fixed annuity, if any, is equal to the fixed annuity value of the Contract Owner's Account at the time it was valued for the payout date, less the Payout Payments. The additional payment under a variable annuity, if any, is equal to the variable annuity value of the Contract Owner's Account as of the date we receive Proof of Death, less the Payout Payments.

4. ***Joint and Survivor Life*** — payments are made to you during the joint lifetime of you and a second person. Upon the death of one, payments continue during the lifetime of the survivor. This option is designed primarily for couples who require maximum possible variable payouts during their joint lives and are not concerned with providing for beneficiaries at the death of the last survivor. For example, it would be possible under this option for the joint Annuitants to receive only one payment if both Annuitants died prior to the date of the second payment, or for the joint Annuitants to receive only one payment and the surviving Annuitant to receive only one payment if one Annuitant died prior to the date of the second payment and the surviving Annuitant dies prior to the date of the third payment. For example, if the Annuitant dies before receiving a Payout Payment the first Payout Payment will be made to the second designated person. If both the Annuitant and the second designated person die before the first Payout Payment is made, no Payout Payments will be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. ***Payment for a Designated Period*** — payments are made to you for a select number of years between five and 30. Upon your death, payments will continue to your Beneficiary until the designated period is completed.

**Payout Information** 

**Once your Payout Payments have begun, the option you have chosen may not be stopped or changed**. Any one of the Variable Investment Options may result in your receiving unequal payments during the Payout Period. If payments begin before age 59½, you may suffer unfavorable tax consequences, in the form of a penalty tax, if you do not meet an exception under federal tax law. See the "*Taxes*" section in this prospectus.

Under certain retirement plans, federal pension law may require that payments be made under the joint and survivor life payout option.

Most Payout Payments are made monthly. The first Payout Payment must total at least $25, and the annual payment must be at least $100. If the amount of a payment is less than $25, we reserve the right to reduce the frequency of payments so that each payment is at least $25, subject to any limitations under the Contract or plan.

**Impact of Advisory Program Fees on Payout Payments** 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee will reduce the annuitization benefit. The examples below assess the impact of the deduction of Advisory Program Fees on the Contract's value upon annuitization, assuming an initial $100 deposit.

1. If, at the payout date, the Contract value has increased to $120 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $119. Your Payout Payments will be based on a Contract value of $119.

2. If, at the payout date, the Contract value has decreased to $90 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $89. Your Payout Payments will be based on a Contract value of $89.

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**Benefits Available Under the Contract**

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**The following tables summarize information about the benefits available under the Contract.** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Interest <br> Guaranteed Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments plus <br> interest<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Payable only if death occurs before age 70<br> •May not be available in all states<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Standard Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Generally payable only if death occurs on <br> or after age 70<br> •Payable in any state where the interest <br> guaranteed death benefit is not available, <br> even if death occurs before age 70<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals may be subject to surrender <br> charges<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|
| No Charge <br> Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period <br> without surrender <br> charges<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals must be made to you over a <br> period of not less than five years, and the <br> annual amount withdrawn may not exceed <br> 20% of Account Value at time of election<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •May not change election once withdrawals <br> begin<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Loans | &nbsp;&nbsp; Provides tax-free <br> access to amounts <br> invested in Fixed <br> Account Options <br> (excluding Multi-<br> Year Enhanced <br> Options)<br>| Optional | &nbsp;&nbsp; $75 application <br> fee (per loan, <br> where permitted <br> by state law)<br> Maximum net <br> interest rate 6%<br>| &nbsp;&nbsp;&nbsp; •Available only during the Purchase Period<br> •May not be taken against amounts <br> invested in Variable Investment Options or <br> Multi-Year Enhanced Options<br> •Interest will accrue on outstanding loan <br> amounts<br> •Will automatically terminate an optional <br> Living Benefit<br> •Minimum loan amount is $1,000<br>|
| Advisory Program | &nbsp;&nbsp; The investment <br> advice service <br> provided by your <br> Investment <br> Adviser<br>| Optional | Not applicable | &nbsp;&nbsp;&nbsp; •A separate investment advisory fee and <br> agreement is required<br> •May not be available under your <br> employer's retirement plan or in <br> connection with your Contract<br> •Participation may automatically terminate <br> an optional Living Benefit<br> •If you pay any investment adviser fee from <br> the Contract, any deduction may reduce <br> the death benefit, optional living benefit <br> and annuity benefits, and may be subject <br> to surrender charges, federal and state <br> income taxes and a 10% federal penalty <br> tax.<br> •You are encouraged to discuss the <br> Advisory Program with your financial <br> professional and the impact that Advisory <br> Fees may have on your Contract Value <br> before electing to enroll in the Advisory <br> Program.<br> •For new investors, we no longer honor <br> investment adviser transfer requests in <br> connection with Advisory Programs that <br> are offered through third-party Investment <br> Advisers.<br>|
| American Home <br> Guarantee<br>| &nbsp;&nbsp; For certain <br> Contracts and <br> certificates, <br> provides an <br> additional financial <br> guarantee with <br> respect to our <br> insurance <br> obligations<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Applies only to Contracts or certificates <br> issued on December 29, 2006 or earlier<br> •Additional financial guarantee is subject to <br> American Home's financial strength and <br> claims-paying ability<br> •Does not guarantee Contract value or the <br> investment performance of the Variable <br> Investment Options<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| DCA Program | &nbsp;&nbsp; Allows you to <br> systematically <br> transfer a <br> specified dollar <br> amount or <br> percentage of <br> contract value <br> between eligible <br> investment <br> options<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Systematic transfers may only occur on a <br> monthly basis and will not count towards <br> the number of free transfers per contract <br> year<br> •Minimum Purchase Payment amounts <br> apply<br> •Only available in newly issued series 1 (in <br> an individual IRA) or series 9 (NQDA)<br> •Not available in all states<br>|

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| | | | |
|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +6 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 6%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is reduced in any benefit <br> year in which withdrawals are taken, and <br> not available in any benefit year in which <br> cumulative withdrawals are greater than <br> 6% of the Benefit Base<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | |
|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +8 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 8%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is not available in any <br> benefit year in which a withdrawal is taken<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| IncomeLOCK | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed to help <br> you create a <br> guaranteed <br> income stream for <br> a specified period <br> of time or as long <br> as you live (and <br> potentially a <br> specified period of <br> time for your <br> spouse if he or <br> she continues the <br> Contract and this <br> benefit after your <br> death), plus the <br> opportunity to <br> increase income <br> by locking in the <br> highest <br> anniversary value<br>| Optional | &nbsp;&nbsp; 0.95%\*<br> (as a percentage <br> of the Benefit <br> Base)<br>| &nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseIneligible <br> for highest anniversary value evaluation <br> period extension if any previous extension <br> opportunity was not elected or age <br> requirements are not satisfied<br> •Maximum charge may increase if <br> evaluation period is extended<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Withdrawal percentage depends on timing <br> of the first withdrawal<br> •Eligible for lifetime withdrawals only if the <br> first withdrawal is taken on or after the <br> benefit anniversary following your 65th <br> birthday. If, after your death, your spouse <br> continues the Contract and continued <br> withdrawals under this guaranteed <br> minimum withdrawal benefit, the <br> withdrawals are for a specified period of <br> time, not the spouse's life<br> •Investment restrictions may limit available <br> investment options<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May be cancelled by you on the 5th or <br> 10th benefit anniversary or any benefit <br> anniversary thereafter<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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\* If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%, and your maximum annual fee rate may increase beyond 1.15% if the Company offers an extension beyond the initial extension. See "Appendix B – Living Benefits."

**Advisory Program**

The Contract may be used where you have engaged an Investment Adviser to provide advice regarding the periodic allocation of investments within the Contract. As long as you are enrolled in an Advisory Program, your Investment Adviser will provide you with investment advice and will be responsible for providing transfer and reallocation instructions to VALIC. You may terminate an Advisory Program at any time. If you terminate the Advisory Program, your Contract will remain in force.

Your Investment Adviser is not acting on VALIC's behalf but rather is acting on your behalf. Whether your Investment Adviser is VFA or a third-party, VALIC is not responsible for any investment advice that is provided to you by your Investment Adviser. VALIC does not offer advice about how to allocate your Account Value. VALIC is not responsible for any recommendations that your Investment Adviser makes, any investment models or asset allocation programs they choose to follow, or any specific transfers that are made on your behalf.

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*For new investors, we no longer honor transfer instructions in connection with Advisory Programs that are offered through third-party Investment Advisers.*

*Advisory Agreement and Fees* 

**When you enroll in an Advisory Program you will enter into an investment advisory agreement with your Investment Adviser ("Advisory Agreement"). VALIC is not a party to the Advisory Agreement.** 

**Your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of advisory fees under the Advisory Program (the "Advisory Program Fee") pursuant to authorizations that you have provided to your Investment Adviser.** If you are enrolled in an Advisory Program with VFA, our affiliate, VALIC will be provided with a copy of your Advisory Agreement, which provides for authorization by you for VALIC to deduct the Advisory Program Fee from your Account Value. The Advisory Program Fee charged by your Investment Adviser is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Partial withdrawals, including those taken to pay the Advisory Program Fee, can reduce certain benefits guaranteed under the Contract, including Contract death benefits and other annuity benefits. This reduction of these guaranteed benefits resulting from the withdrawal for payment of the Advisory Program Fees will be the dollar amount of the fee assessed by your investment adviser, and, as described above, is based on a percentage of the Account Value managed by the Advisory Program. For a more detailed explanation about how the assessment of the Advisory Program Fees can affect the benefits under this Contract, please see **Impact of Advisory Program Fees** in the *"Description of Insurance Company, Registered Separate Account, and Investment Options"* and *"Annuity Period"* sections.

If your Contract is an IRA or Roth IRA, partial withdrawals to pay the Advisory Program Fee generally can qualify as expenses of the IRA and thus qualify as non-taxable. Partial withdrawals from a non-qualified Contract are treated as a taxable distribution. Effective January 1, 2020, however, fees taken from a non-qualified individual contract used to pay the Advisory

Program Fee for the Advisory Programs offered through VFA are not considered distributions or withdrawals from the account for tax purposes and therefore not treated as a taxable distribution beginning with the 2020 tax year. If you are under age 59 ½, withdrawals may be subject to an additional 10% tax. If you participate in a third-party Advisory Program, which means VFA is not your Investment Adviser, partial withdrawals, including Investment Adviser fees, taken from a non-qualified individual contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution. You should consult with your tax advisor for any advice regarding potential tax considerations relating to the payment of the Advisory Program Fee from your Contract.

If VFA is your Investment Adviser, the Advisory Program Fee must be withdrawn from your Contract. If you enroll in a third-party Advisory Program, a fee for that program might be paid either by you directly (from assets outside of the Contract) or from the Contract, depending upon the provisions of that program and the type and frequency of the payment required. You should consult with your Investment Adviser about any questions related to the payment of the fee.

Please see the "*Taxes*" section and consult your tax professional regarding the impact of deducting advisory fees before making any election to do so.

*Reallocations & Transfer Instructions* 

While the Advisory Program is in place, you are prohibited from making transfers among Investment Options in the Contract. During such period, transfer instructions may only be provided by the Investment Adviser. If you terminate the Advisory Program, you may make transfers among the Investment Options subject to the transfer restrictions noted in the "*General Description of the Contracts*" section of this Prospectus.

Unless you direct us otherwise, your Investment Adviser will forward instructions regarding the allocation of your Account Value, and will request financial transactions involving investment options. **If your Investment Adviser has this authority, we deem that all such transactions that are directed by your Investment Adviser with respect to your Contract have been authorized by you.** You will receive a confirmation of any financial transactions involving the purchase or sale of Purchase Units. You must contact VALIC immediately by calling 1-800-448-2542 to request a termination form if and when you want to revoke such authority. We will not be responsible for acting on instructions from your Investment Adviser until we receive notification of the revocation of such person's authority. We may also suspend, cancel or limit the Investment Adviser's authorization at any time. In addition, we may restrict the Investment Options available for transfers or allocation of Purchase Payments. We will notify you and your Investment Adviser if we implement any such restrictions or prohibitions.

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Transfers and reallocations made by your Investment Adviser are subject to the restrictions on transfers between Investment Options that are discussed in the "*General Description of the Contracts*" section of this Prospectus.

*Termination of the Advisory Program* 

You may terminate the Advisory Program at any time. However, the terms and conditions of how to terminate the Advisory Program will be set forth in your Advisory Agreement. Please consult with your Investment Adviser if you have questions about terminating the Advisory Program. We may continue to rely on instructions from your Investment Adviser until we receive notice of termination of the Advisory Agreement. If you want to notify us about the termination of your Advisory Program, please call 1-800-448-2542 to request the termination form. If you terminate the Advisory Program, your Contract will remain in force.

In order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program.

**Death Benefits**

The Contracts will pay death benefits during either the Purchase Period or the Payout Period.

*The Process* 

VALIC requires that complete and acceptable documentation and paperwork be received from the Beneficiary in order to begin the death benefit payment process. First, Proof of Death is required. Proof of Death is defined as a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death or a written statement by an attending physician. Additionally, the Beneficiary must include an election specifying the distribution method and any other form required by VALIC or a regulator to process the claim. The account will not be valued, and any payments will not be made until all paperwork is complete and in a form acceptable to VALIC. Your Beneficiary may contact us at 1-800-448-2542 with any questions about required documentation and paperwork. Death benefits are paid only once per Contract.

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit will be payable. Please see Impact of the Deduction of Advisory Program Fees on Death Benefit below regarding impacts to your death benefit due to the deduction of Advisory Program Fees.

*Beneficiary Information* 

The Beneficiary may receive death benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a lump sum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the form of an annuity under any of the Payout Options;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In partial payments over the Beneficiary's life expectancy (where permitted); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a manner mutually agreeable between the Beneficiary and VALIC that is in accordance with applicable laws and regulations.

Payment of any death benefits must be within the time limits set by federal tax law, if any. In the case of an IRA, a spousal Beneficiary may continue the Contract or may roll the funds over to an IRA. If the Beneficiary elects a life annuity for a designated or fixed period, the guarantee period cannot exceed the Beneficiary's life expectancy. After choosing a payment option, a Beneficiary may exercise many of the investment options and other rights that the Participant or Contract Owner had under the Contract.

*Special Information for Nonqualified Contracts* 

It is possible that the Contract Owner and the Annuitant under a nonqualified Contract may not be the same person. If this is the case, and the Contract Owner dies, there will be no death benefit payable since the death benefit is only due in the event of the Annuitant's death. However, the Contract will be assigned to the contingent owner, if any, or to the Contract Owner's estate. Such transfers may be considered a taxable event by the IRS. In general, payments received by your Beneficiaries after your death are taxed in the same manner as if you had received the payments. See the *"Taxes*" section.

*During the Purchase Period* 

Two types of benefits are available if death occurs during the Purchase Period: interest guaranteed death benefit and standard death benefit. The Beneficiary will receive the greater of these two benefits. The interest guaranteed death benefit ensures that the Beneficiary receives at least a minimum death benefit under the Contract, even if invested in Variable Investment Options, while the standard death benefit guarantees the return of Purchase Payments less any prior withdrawals.

As indicated above, a Contract Owner may elect to annuitize only a certain portion and leave the remaining value in the account. The death benefit in such situations would include the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account.

*Death Benefit Before Age of 70* 

The interest guaranteed death benefit is payable when death occurs prior to your reaching the age of 70, provided that the benefit is available in your state.

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The interest guaranteed death benefit is generally calculated as is shown below. The calculation becomes more complex based upon the transfers between available investment options or product exchanges. Thus, the death benefit may only be calculated for a Beneficiary once VALIC receives all paperwork, including satisfactory proof of death, complete and in a form acceptable to VALIC.

*Step 1*: Determine your Fixed Account Option Value by taking the greater of:

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| | |
|:---|:---|
|  | Value of Fixed Account Option on date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Fixed Account <br> Option<br>|
|  | – **(minus)** |
|  | Amount of all prior withdrawals from the Fixed Account <br> Option, charges and any portion of Account Value <br> applied under a Payout Option<br>|

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*Step 2*: Determine your Variable Investment Option Value by taking the greater of:

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| | |
|:---|:---|
|  | Value of Variable Investment Options on date all <br> paperwork is complete and in a form acceptable to <br> VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Variable <br> Investment Options<br>|
|  | – **(minus)** |
|  | Amount of prior withdrawals (out of) or transfers (out <br> of) the Variable Investment Options<br>|
|  | + **(plus)** |
|  | Interest at an annual rate as specified in your Contract |

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*Step 3*: Add step 1 + 2 = Death Benefit

For purposes of this calculation amounts transferred into the Variable Investment Option will be treated as Purchase Payments.

This value may be adjusted if the total amount of any death benefit exceeds the Account Value.

*Death Benefit On or After Age 70* 

The standard death benefit is payable if death occurs on or after age 70, or at any age in a state where the interest guaranteed death benefit is not available.

The standard death benefit will be the greater of:

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| |
|:---|
| Your Account Value on the date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |
| 100% of Purchase Payments (to Variable Investment <br> Options and/or Fixed Account Options)<br>|
| **(minus)** |
| Amount of all Prior Withdrawals, Charges and any <br> portion of Account Value applied under a Payout Option<br>|

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*Adjusted Purchase Payment Amount* 

The information below is applicable to you only if you received a Death Benefit Endorsement or Amendatory Endorsement with your Contract or certificate.

If the total amount of any death benefit payable from the Variable Investment Options and Fixed Account Options under the Contract exceeds the Account Value as of the date all paperwork is complete and in a form acceptable to VALIC, then the total death benefit paid may be adjusted to limit the death benefit due to withdrawals. An Adjusted Purchase Payment Amount will be calculated, on the date all paperwork is complete and in a form acceptable to VALIC, determined as follows:

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| | |
|:---|:---|
| A. | 100% of Purchase Payments |
| – | **(minus)** |
| B. | Gross Withdrawals (see below) and any portion of <br> Account Value applied under a Payout Option<br>|
| + | **(plus)** |
| C. | Interest on the result of A minus B at an annual rate as <br> specified in your Contract (see below).<br>|

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Each "Gross Withdrawal" is calculated by multiplying the Adjusted Purchase Payment Amount by a fraction. The numerator of the fraction is the amount of the withdrawal plus any associated fees and charges. The denominator of the fraction is the Account Value immediately prior to the withdrawal. Thus, each Gross Withdrawal will proportionately reduce the Adjusted Purchase Payment Amount. The interest adjustment in C. above is added only if you are under age 70 at the time of death.

The Contract death benefit and the Adjusted Purchase Payment Amount are compared. The lesser amount is then compared to the Account Value, and the beneficiary will receive the greater of those two amounts.

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*During the Payout Period* 

If the Annuitant dies during the Payout Period, the Beneficiary may receive a death benefit depending on the payout option selected. The amount of death benefit will also depend on the payout option that you selected. The payout options available are described in the "*Annuity Period*" section of this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life only option or joint and survivor life option was chosen, there will be no death benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life with guaranteed period option, life with cash or unit refund option or payment for a designated period option was chosen, and the entire amount guaranteed has not been paid, the Beneficiary may choose one of the following within 60 days after death benefits are payable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Receive the present value of any remaining payments in a lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Receive the remaining payments under the same terms of the guaranteed period option chosen by the deceased Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Receive the present value of any remaining payments applied under the payment for a designated period option for a period equal to or shorter than the period remaining. Spousal Beneficiaries may be entitled to more favorable treatment under the Contract and/or under federal tax law, including additional permitted delays before beginning distributions, as well as being able to continue the Contract as their own and not as a beneficiary account.

*Impact of the Deduction of Advisory Program Fees on Death Benefit* 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the death

benefit. The examples below assess the impact of the Advisory Program Fee on the Contract's death benefit assuming an initial $100 deposit and no additional payments and no withdrawals.

1. If, at the end of the year, the Contract value increases to $120 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $119. If you die, your Contract's death benefit is $119.

2. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee will not reduce the death benefit which will be at least $100 (your premium payment) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Please note that if you are participating in an Advisory Program offered through a third-party Investment Adviser, the example below instead applies. Example 2 does not apply to you.** 

3. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee **<u>will</u>** reduce the death benefit to $99 (your premium payment less Advisory Program Fees deducted) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Purchases and Contract Value**

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The Purchase Period begins when your first Purchase Payment is made and continues until you begin your Payout Period. This period may also be called the accumulation period, as you save for retirement. Changes in the value of each Variable Investment Option and Fixed Account Option are reflected in your overall Account Value. Thus, your investment choices and their performance will affect the total Account Value that will be available for the Payout Period. The amount, number, and frequency of your Purchase Payments may be determined by the retirement plan for which your Contract was purchased. The Purchase Period will end upon death, upon surrender, or when you complete the process to begin the Payout Period.

**Account Establishment** 

You may establish an account through an investment professional. Initial Purchase Payments must be received by VALIC either with, or after, a completed application. If part of an employer-sponsored retirement plan, your employer is responsible for remitting Purchase Payments to us. The employer is responsible for furnishing instructions to us (a premium flow report) as to the amount being applied to your account (see below). Purchase Payments can also be made by you for IRAs and certain nonqualified Contracts.

The maximum single payment that may be applied to any account without prior Home Office approval is $1,000,000.

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Minimum initial and subsequent Purchase Payments are as follows:

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| | | |
|:---|:---|:---|
| **Contract Type** | **Initial**<br> **Payment**<br>| **Subsequent**<br> **Payment**<br>|
| Periodic Payment | &nbsp;&nbsp; $30 | &nbsp;&nbsp; $30 |
| Single Payment | &nbsp;&nbsp; $1000 | &nbsp;&nbsp; N/A |

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Periodic Payment minimums apply to each Periodic Payment made. The Single Payment minimum applies to each of your accounts.

When an initial Purchase Payment is accompanied by an application, we will promptly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accept the application and establish your account within 2 Business Days. We will also apply your Purchase Payment by crediting the amount, effective the date we accept your application, to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Request additional information to correct or complete the application. In the case of an individual variable annuity Contract, we will return the Purchase Payments within 5 Business Days if the requested information is not provided, unless you otherwise so specify. Once you provide us with the requested information, we will establish your account and apply your Purchase Payment, effective the date we accept your application, by crediting the amount to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reject the application and return the Purchase Payment.

If we receive Purchase Payments from your employer before we receive your completed application or enrollment form, we will not be able to establish a permanent account for you. If this occurs, we will take one of the following actions:

*Return Purchase Payments*. If we do not have your name, address or Social Security Number ("SSN"), we will return the Purchase Payment to your employer unless this information is immediately provided to us; or

*Employer-Directed Account*. At the direction of your employer, provided on a form acceptable to VALIC and accompanied by certain necessary information (such as name, address, and SSN), we may establish an account for you. In that case we will deposit your Purchase Payment in an "Employer-Directed" account invested in a Money Market Division, or other Investment Options chosen by your employer, and provide a Contract or certificate. If you want an investment professional to assist you in allocating these amounts, you will first need to provide certain personal and financial information that may be required by the investment professional in order to provide such assistance; or

*Starter Account*. If we have your name, address and SSN, but we do not have an agreement with your employer for employer-directed accounts, we will deposit your Purchase Payment in a "starter" account invested in the Money Market Division option available for your plan or other Investment Options chosen by your employer. We will send you a follow-up letter requesting the information necessary to complete the application, including your allocation instructions. If we do not receive the necessary information within 105 days, we may return the Purchase Payment to your employer or convert the account to an "unsolicited" account which would be subject to many of the same restrictions as a starter account. You may not transfer these amounts until VALIC has received a completed application or enrollment form.

If mandated under applicable law, we may be required to reject a Purchase Payment. We may also be required to block a Contract Owner's account and thereby refuse to pay any request for transfers, withdrawals, surrenders, loans or death benefits, until instructions are received from the appropriate regulatory authority.

**When Your Account Will Be Credited** 

Depending on your retirement plan, Purchase Payments may be made by your employer for your account or by you for an IRA or certain nonqualified Contracts. It is the employer's or the individual's responsibility to ensure that the Purchase Payment can be promptly posted to the appropriate account(s).

A Purchase Payment must be "in good order" before it can be posted to your account. "In good order" means fully and accurately completed form(s) and/or instructions, including necessary documentation, and that all required information and/or documentation to any given transaction has been received by us and that, where applicable, the funds (check, wire, or ACH) clearly identify the individual SSN or Group Number to which they are to be applied. To ensure efficient posting for Employer-Directed accounts, Purchase Payment information must include complete instructions, including the group name and number, each employee's name and SSN, contribution amounts (balanced to the penny for the total purchase) and the source of the funds (for example, employee voluntary, employer mandatory, employer match, transfer, rollover or a contribution for a particular tax year). Purchase Payments for individual accounts must include the name, SSN, and the source of the funds (for example, transfer, rollover, or a contribution for a particular tax year).

If a subsequent Purchase Payment is in good order as described and is received by our bank by Market Close, the appropriate account(s) will be credited the Business Day of receipt. Purchase Payments in good order received after Market Close will be credited on the next Business Day. See **Account Establishment** above for information about initial Purchase Payments.

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Note that if the Purchase Payment is not in good order, the employer or individual will be notified promptly. No amounts will be posted to any accounts until all issues with the Purchase Payment have been resolved. If a Purchase Payment is not received in good order, the purchase amounts will be posted effective the Business Day all required information is received.

We will allocate Purchase Payments (less any charges) to the Variable Investment Options and Fixed Account Options selected by you. Each selection must be a whole percentage of Purchase Payments.

Throughout the duration of the Contract, VALIC may close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Investment Options, with advance written notice. VALIC may make the Fixed Account Options available or close the Fixed Account Options as frequently as it determines at any point in time while the Contract is in force, provided that VALIC gives advance written notice in each case.

**Purchase Units** 

A Purchase Unit is a unit of interest owned by you in your Variable Investment Option. Purchase Unit values are calculated each Business Day following Market Close. Purchase Units may be shown as "Number of Shares" and the Purchase Unit values may be shown as "Share Price" on some account statements.

**Calculation of Value for Fixed Account Options** 

The Fixed Account Plus, Short-Term Fixed Accounts, and DCA Fixed Accounts are part of the Company's general assets. The Multi-Year Option may be invested in either the general assets of the Company or in a separate account of the Company, depending upon state requirements. You may allocate all or a portion of your Purchase Payment to the Fixed Account Options listed in **Fixed Account Options** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus. Purchase Payments you allocate to these Fixed Account Options are guaranteed to earn at least a minimum rate of interest. Interest is paid on each of the Fixed Account Options at declared rates, which may be different for each option. With the exception of a market value adjustment, which generally will be applied to withdrawals or transfers from a Multi-Year Option prior to the end of an MVA term, we bear the entire investment risk for the Fixed Account Options. All Purchase Payments and interest earned on such amounts in your Fixed Account Option will be paid regardless of the investment results experienced by the Company's general assets. The minimum amount to establish each new Multi-Year Option guarantee period (MVA Band), as described in the Contract, may be changed from time to time by the Company.

The value of your Fixed Account Option is calculated on a given Business Day as shown below:

Value of Your Fixed Account Options\*

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| | |
|:---|:---|
| **=** | **(equals)** |
|  | &nbsp;&nbsp; All Purchase Payments made to the Fixed Account <br> Options<br>|
| **+** | **(plus)** |
|  | &nbsp;&nbsp; Amounts transferred from Variable Investment <br> Options to the Fixed Account Options<br>|
| + | **(plus)** |
|  | All interest earned |
| – | **(minus)** |
|  | &nbsp;&nbsp; Amounts transferred or withdrawn from Fixed Account <br> Options (including applicable fees and charges)<br>|

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\*

This value may be subject to a market value adjustment under the Multi-Year Option.

**Calculation of Value for Variable Investment Options** 

You may allocate all or a portion of your Purchase Payments to the Variable Investment Options listed in this prospectus as permitted by your retirement program. An overview of each of the Variable Investment Options may be found in "*Appendix A – Investment Options Available Under the Contract*" and **Variable Investment Options** in the "*Description of the Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus and in each Portfolio Company's prospectus. The Purchase Unit value of each Variable Investment Option will change daily depending upon the investment performance of the underlying Portfolio Company (which may be positive or negative) and the deduction of the Separate Account Charges. See "*Charges and Adjustments*." Your account will be credited with the applicable number of Purchase Units, including any dividend or capital gains per share declared on behalf of the underlying Portfolio Company as of that day. The number of Purchase Units you are credited is calculated the day we process your Purchase Payment. Please see the **When Your Account Will Be Credited** section above.

The Purchase Unit value is determined by multiplying the Purchase Unit value for the preceding Business Day by a factor for the current Business Day. The factor is determined by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. dividing the net asset value per share of the Underlying Portfolio Company at the end of the current Business Day, plus any dividend or capital gains per share declared on behalf of the Underlying Portfolio Company as of that day, by the net asset value per share of the Underlying Portfolio Company for the previous Business Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. multiplying it by one minus all applicable daily asset-based charges.

We determine the number of Purchase Units credited to your contract by dividing the Purchase Payment by the Purchase Unit value for the specific Variable Investment Option.

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If the Purchase Payment is in good order as described and is received by us by Market Close, the appropriate account(s) will be credited the Business Day of receipt and will receive that Business Day's Purchase Unit value. Purchase Payments in good order received by us after Market Close will be credited the next Business Day and will receive the next Business Day's Purchase Unit value. Because Purchase Unit values for each Variable Investment Option change each Business Day, the number of Purchase Units your account will be credited with for subsequent Purchase Payments will vary. **Each Variable Investment Option bears its own investment risk. Therefore, the value of your account may be worth more or less at retirement or withdrawal and the entire loss of principal is possible.** 

During periods of low short-term interest rates, and in part due to Contract fees and expenses, the yield of the Goldman Sachs VIT Government Money Market Fund may become extremely low and possibly negative. If the daily dividends paid by the underlying Portfolio Company are less than the daily portion of the Separate Account Charges, the Purchase Unit value will decrease. In the case of negative yields, your investment in the Variable Investment Option, which invests in the Goldman Sachs VIT Government Money Market Fund, will lose value.

**Stopping Purchase Payments** 

You may stop Purchase Payments at any time. You may resume Purchase Payments thereafter during the Purchase Period. The value of the Purchase Units will continue to vary, and your

Account Value will continue to be subject to charges. The Account Value will be considered surrendered when you begin the Payout Period. You may not make Purchase Payments during the Payout Period.

If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. We will not assess a surrender charge in this instance. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Principal Underwriter** 

The principal underwriter of the Contracts is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company due to common ownership, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

**Impact of Deduction of Advisory Program Fee on Purchase Payments** 

If you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, and the Advisory Program Fee is deducted from your Contract value, the deduction of such fee will result in reduction of Purchase Units by the amount of the fee.

**Surrenders and Withdrawals**

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**When Surrenders Are Allowed** 

You may withdraw all or part of your Account Value at any time before the Payout Period begins if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under federal and state law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under your employer's plan.

For Purchase Payments that are contributions made under your employer's plan, such as a 401(a) or (k) qualified cash or deferred arrangement or a 403(b) plan, surrenders are subject to the terms of the plan, in accordance with the Code. Qualified plans often require certain conditions to be met before a distribution or withdrawal may take place. See **Surrender Restrictions** below*.* 

For an explanation of charges that may apply if you surrender your Account Value, see the "*Charges and Adjustments*" section in this prospectus*.* Additionally, you may incur a 10% federal tax penalty for partial or total surrenders made before age 59½.

*Delay of payment.* We may be required under applicable law to block a request for a surrender until we receive instructions from the appropriate regulator, due to the USA Patriot Act. In

addition, we may defer making payments from the Fixed Account Options for up to six months, or less, if required by law. If payment is deferred, interest will accrue until the payment is made.

VALIC may be required to suspend or postpone the payment of a withdrawal for more than 7 days when: (1) the NYSE is closed (other than a customary weekend and holiday closings); (2) trading with the NYSE is restricted; (3) an emergency exists such that disposal of or determination of the value of shares of the Variable Investment Options is not reasonably practicable; or (4) the SEC, by order, so permits for the protection of Contract Owners.

**Surrender Process** 

If you are allowed to surrender all or a portion of your Account Value during the Purchase Period as noted above, then you must complete a surrender request form or information required in other approved media, and submit it to the Annuity Service Center. We will mail the surrender value to you within seven calendar days after we receive your request if it is in good order.

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We may be required to suspend or postpone payments if redemption of an underlying Portfolio Company's shares have been suspended or postponed. See the applicable Portfolio Company prospectus for a discussion of the reasons why the redemption of shares may be suspended or postponed*.* 

We may receive a surrender for a Purchase Payment that has not cleared the banking system. We may delay payment of that portion of your surrender value until the check or the electronic funds transfer clears.

**Amount That May Be Surrendered** 

The amount that may be surrendered during the Purchase Period can be determined as follows:

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| | | |
|:---|:---|:---|
| Allowed<br> Surrender<br> Value<br>| **= (equals)** | &nbsp;&nbsp; Your Account Value<sup>(1)</sup> <br>- **(minus)**<br> Any Applicable<br> Surrender Charge<br>|

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<sup>(1)</sup>

Equals the Account Value next computed after your properly completed request for surrender is received in the Annuity Service Center.

There is no guarantee that the surrender value in a Variable Investment Option will ever equal or exceed the total amount of your Purchase Payments received by us. The surrender value in a Fixed Account Option will never be less than the Purchase Payments allocated to the Fixed Account Option (less amounts transferred to a Variable Investment Option or withdrawn from the Fixed Account Option).

**Surrender Restrictions** 

Generally, Code section 403(b)(11) permits total or partial distributions from your voluntary contributions to a 403(b) contract only on account of hardship (employee contributions only without accrued interest), attainment of age 59½, separation from service, death or disability. Similar restrictions apply to any amount transferred to a 403(b) contract from a 403(b)(7) custodial account. In addition, beginning for contracts issued on or after January 1, 2009, employer contributions and non-elective contributions to a 403(b) annuity contract are subject to restrictions specified in Treasury regulations as specifically imposed under the employer's plan.

Under the ***Texas State Optional Retirement Program***, no surrender or partial surrender will be allowed except upon attainment of age 70½, retirement or other termination of employment or death.

Under the ***Florida State Optional Retirement Program***, no surrender or partial surrender of Purchase Payments made by the employer will be allowed except upon termination of employment, retirement or death. Benefit payments based on payments from the employer may not be paid in a lump sum or

for a period certain, but must be paid under a life contingency option, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• death benefits; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• certain small amounts approved by the State of Florida.

Under the ***Louisiana Optional Retirement Plan***, retirement benefits must be paid in the form of a lifetime income option.

Single sum surrenders and partial surrenders out of the plan are not permitted, unless they are rollovers to another qualified plan or IRA, except for death benefits.

Other employer-sponsored plans may also impose restrictions on the timing and form of surrenders from the Contract.

**Partial Surrenders** 

You may request a partial surrender of your Account Value at any time during the Purchase Period, subject to any applicable surrender restrictions. A partial surrender plus any surrender charge will reduce your Account Value. You may specify an amount to be taken from each Portfolio Company or the amount will be distributed pro-rata against all Portfolio Companies. If you do not specify, the distribution will be taken pro-rata against the Variable Investment Options and Fixed Account Options.

The reduction in the number of Purchase Units credited to your Variable Investment Option Account Value will equal:

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| | | |
|:---|:---|:---|
| The amount<br> surrendered from the<br> Variable Investment Option<br> + **(plus)**<br> Any surrender charge<br>| &nbsp;&nbsp; ÷<br> **(divided**<br> **by)**<br>| &nbsp;&nbsp; Your Purchase Units<br> next computed after the<br> written request for<br> surrender is received at<br> the Annuity Service Center<br>|

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The surrender value will be reduced by the full quarterly account maintenance charge in the case of a full surrender during a quarter. If your Account Value falls below a certain dollar amount and you do not make a Purchase Payment over a certain period of time, as specified in your Contract, we may close your account and pay the Account Value to you.

**Systematic Withdrawals** 

You may elect to withdraw all or part of your Account Value under a systematic withdrawal method as described in your Contract ("No Charge" systematic withdrawals). There will be no surrender charge for withdrawals using this method, which provides for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments to be made to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment over a stated period of time, but not less than five years; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment of a stated yearly dollar amount or percentage (the amount or percentage may not exceed 20% of your Account Value at the time election is made).

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We may require a minimum withdrawal amount under this method. The portion of your account that has not been withdrawn will continue to receive the investment return of the Variable Investment Options that you selected. You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the funds in which you are invested, including the Multi-Year Option. A market value adjustment may apply to systematic withdrawals unless you choose the Fixed Interest Only payment option. Once begun, a "No Charge" systematic withdrawal election may not be changed, but can be revoked at no charge. If revoked, a "No Charge" systematic withdrawal may not be elected again. Systematic withdrawals that are not "No Charge" systematic withdrawals can be changed, revoked, and/or reinstated. No more than one systematic withdrawal election may be in effect at any one time. We reserve the right to discontinue any or all systematic withdrawals or to change the terms, at any time.

**Distributions Required by Federal Tax Law** 

There will be no surrender charge on RMD's if the withdrawal:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is made payable to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Does not exceed the amount required under federal tax law as determined by the values in your Portfolio Director Contract and VALIC.

You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the

investment options in which you are invested, including the Multi-Year Option. This Contract feature will not be available in any year that an amount has been withdrawn under the "No Charge" systematic withdrawal method. See "*Taxes*" below for more information about required distribution rules*.*

**Cancellation — The "Free Look" Period** 

The Contract Owner of a group Contract (employer) or individual Contract Owner may cancel a Contract by returning it to the Company within 20 days after it is received. (A longer period will be allowed if required under state law.) See *"Appendix C — State Contract Variability."* The free look does not apply to Participant certificates except in a limited number of states. We will allocate Purchase Payments as instructed during the "free look" period. To cancel the Contract, the Contract Owner must send a written request for cancellation and return the Contract to us at the Annuity Service Center before the end of the "Free Look" period. A refund will be made to the Contract Owner within seven days after receipt of the Contract within the required period. Generally, the amount of the refund will be equal to all Purchase Payments received or, if more, the amount required under state law. Additionally, all Contracts issued as an IRA require the full return of Purchase Payments upon a free look. If your Contract was issued either in a state requiring return of Purchase Payments or as an IRA, and you cancel your Contract during the free look period, we return the greater of (1) your Purchase Payments; or (2) the Account Value on the day we receive your request in good order at the Annuity Service Center. The Contract will be void once we issue a refund.

**Loans**

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The Contract offers a tax-free loan provision for tax-qualified contracts, other than IRAs, which gives you access to your money in the Fixed Account Options (subject to a minimum loan amount of $1,000). The availability of loans is subject to federal and state government regulations, as well as your employer's plan provisions and VALIC policy. Generally, one loan per account will be allowed. Under certain, specific circumstances, a maximum of two loans per account may be allowed. VALIC reserves the right to change this limit. We may charge a loan application fee if permitted under state law. Keep in mind that tax laws restrict withdrawals prior to age 59½ and a tax penalty may apply (including on a loan that is not repaid). If you elected an optional Living Benefit, see Appendix B – Living Benefits for limitations on your ability to take loans.

**Interest Charged for a Loan** 

For Contracts not governed by the requirements of ERISA, we charge an effective annual loan interest rate of up to 6%. For

Contracts maintained under a plan subject to the requirements of ERISA, the interest rate we charge on a loan will be based on the Moody's Corporate Bond Yield Average ending two months before the date that the interest rate is determined. The rate is determined each calendar quarter and applies for twelve months for new loans and for outstanding loans whose anniversaries occur in that quarter.

**The Effects of a Loan on Account Value, Payout Payments and the Death Benefit** 

A loan, whether it is repaid or not, has a permanent effect on your Account Value. This effect occurs because the amounts borrowed are removed from your Fixed Account Option(s) and placed in an account outside of your Contract, which earns interest at a fixed rate. If the loan is not fully repaid, upon the beginning of the Payout Period, surrender, or death, then the cash value or the death benefit, as applicable, will be reduced by any foreclosure on the loan or any defaulted amount of the loan.

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**Taxes**

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The Federal income tax treatment of annuity contracts or retirement programs is complex and sometimes uncertain. The discussion below is intended for general informational purposes only and is not intended as tax advice, either general or individualized, nor should be interpreted as providing any predictions or guarantees of a particular tax treatment. This discussion is based upon the Company's understanding of current tax rules and interpretations. Finally, this discussion does not address all Federal income tax consequences of transactions (including consequences of sales to foreign individuals or entities), state or local tax consequences, estate or gift tax consequences, or the impact of foreign tax laws, associated with your Contract.

Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have a retroactive effect as well. As a result, you should consult a tax advisor about the application of tax rules found in the Internal Revenue Code of 1986, as amended ("IRC" or "the Code"), Treasury Regulations, applicable Internal Revenue Service ("IRS") guidance, and any regulatory developments to your individual situation. We do not guarantee the tax status or treatment of your annuity.

Tax rules vary, depending on whether the Contract is offered under your employer-sponsored retirement program or arrangement, an individual retirement account or annuity, or a nonqualified Contract.

The Contracts are used under many types of retirement arrangements, which may include the following:

• IRC section 403(b) annuities for employees of public schools, community colleges, colleges and universities, and other section 501(c)(3) tax-exempt organizations;

• IRC section 401(a), 403(a), and 401(k) qualified plans (including plans for self-employed individuals);

• IRC section 408(b) traditional IRAs;

• IRC section 408A Roth IRAs;

• IRC section 457 deferred compensation plans of governmental and certain tax-exempt employers;

• IRC section 408(k) SEPs and SARSEPs; and

• IRC section 408(p) SIMPLE retirement accounts.

Contracts purchased under these retirement arrangements described above ("Qualified Arrangement") generally are referred to in this prospectus as "Qualified Contracts." Contracts that are not purchased in connection with a Qualified Arrangement generally are referred to in this prospectus as "Non-Qualified Contracts." Note that there are certain types of plans that are referred to as non-qualified, e.g. Non-qualified deferred compensation plans under IRC section 457, that, for purposes of this prospectus, are considered Qualified Arrangements. See below for further details.

**Tax Status of Non-Qualified Contracts** 

**Non-Qualified Contracts** 

Generally, the increases in the value of a Contract are not taxed until a distribution occurs. The taxable portion of the distribution is taxed at ordinary income tax rates. However, this tax deferral is only available if the Contract satisfies certain federal tax rules and requirements, described next. We do not guarantee the tax status or treatment of your Contract. The remainder of the discussion assumes that the Contract will be treated as an annuity contract for federal income tax purposes.

**Late Annuity Start Date** 

If the Contract's annuity start date occurs (or is scheduled to occur) at a time when the Owner has reached an advanced age, it is possible that the Contract would not be treated as an annuity for federal income tax purposes. In that event, the income and gains under the Contract could be currently includable in the Owner's income.

**Diversification** 

For a contract to be treated as a variable annuity for Federal income tax purposes, the underlying investments under the variable annuity must be "adequately diversified". Treasury Regulations provide standards that must be met to comply with the rules. Under the regulations, an investment portfolio will be deemed adequately diversified if (1) no more than 55% of the value of the total assets of the portfolio is represented by any one investment; (2) no more than 70% of the value of the total assets of the portfolio is represented by any two investments; (3) no more than 80% of the value of the total assets of the portfolio is represented by any three investments; and (4) no more than 90% of the value of the total assets of the portfolio is represented by any four investments.

If the variable annuity fails to comply with these diversification standards, you could be required to pay tax currently on the excess of the Contract Value over the contract Purchase Payments. We expect that the manager of the Underlying Funds monitors the Funds to comply with these Treasury Regulations.

**Investor Control** 

Under certain circumstances, you, and not the Company, could be treated as the owner of the assets held in the Separate Account under your Non-Qualified Contract, based on the degree of control you exercise over the underlying investments. If this occurs, you may be currently taxed on income and gains attributable to the assets under the Contract rather than at the time of withdrawal.

There is little guidance in this area, and the determination of whether you possess sufficient incidents of ownership over such assets depends on all of the relevant facts and circumstances.

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However, Revenue Rulings 2003-91 and 2003-92 provide that an annuity owner's ability to choose among general investment strategies either at the time of the initial purchase or thereafter, does not constitute control sufficient to cause the contract holder to be treated as the owner of such assets. The Revenue Rulings provide that if, based on all the facts and circumstances, you do not have direct or indirect control over such assets, then you do not possess sufficient incidents of ownership over the assets supporting the annuity to be deemed the owner of the assets for federal income tax purposes. We do not know what limits may be set by the IRS in any future guidance that it may issue and whether such limits will apply to existing contracts.

While we believe the Contract does not give you investor control over such assets, we reserve the right to modify the Contract as necessary to prevent you from being considered as the owner of the assets of the Contract for purposes of the Code.

**Non-Natural Owners** 

A Trust or Corporation or other Owner that is not a natural person ("Non-Natural Owner") should consult a tax advisor. Generally, the Code does not confer tax-deferred status upon a Non-Qualified Contract owned by a Non-Natural Owner for federal income tax purposes. Instead in such cases, the Non-Natural Owner pays tax each year on the contract's "income on the contract" (as defined in the tax law). However, certain exceptions may apply, such as for contracts held by a trust or other entity as an agent for a natural person or contracts held by certain employer sponsored retirement arrangements. If an exception applies, the entity's general interest deduction under the Code may be limited. Finally, certain non-qualified deferred compensation plans are subject to special tax rules. **Please consult a tax advisor if you are a Non-Natural Owner of a Contract.**

**Tax Treatment of Purchase Payments** 

Purchase Payments paid to a Nonqualified Contract are neither excludible from the gross income of the Contract Owner nor deductible for tax purposes. In general, your cost basis in a Non-Qualified Contract is equal to the Purchase Payments you put into the Contract less any amounts previously received from the Contract that were not includible in income.

**Tax Treatment of Distributions** 

**Partial Withdrawals** 

If you make a partial withdrawal from a Non-Qualified Contract, the IRC generally treats such withdrawals as taxable to the extent your contract value before the withdrawal (determined before the application of any surrender charge) exceeds your cost basis. Partial withdrawals from a Non-Qualified Contract that has Purchase Payments made before August 14, 1982, are

an important exception to this general rule and are treated as first coming from the pre-August 14, 1982 Purchase Payments.

Amounts received under an automatic withdrawal plan are treated as withdrawals and not annuity payments for purposes of calculating taxable income.

**Optional Living Benefits/Other Benefits** 

Generally, we will treat amounts credited to the contract value under the optional Living Benefit guarantees, for income tax purposes, as earnings in the contract. Thus, payments of Living Benefits are treated as taxable withdrawals to the extent there are taxable gains in the contract value. Payments in accordance with such guarantees after the contract value has been reduced to zero may be treated for tax purposes as amounts received as an annuity, if the other requirements for such treatment are satisfied. All payments or withdrawals after cost basis has been reduced to zero, whether or not under such a guarantee, will be treated as taxable amounts. If available and you elect an optional Living Benefit, the application of certain tax rules, including those rules relating to distributions from your contract, are not entirely clear. Such benefits are not intended to adversely affect the tax treatment of distributions or of the contract. However, you should be aware that little guidance is available. **You should consult a tax advisor before electing an optional Living Benefit.** 

**Full Surrenders** 

In the case of a full surrender of a Non-Qualified Contract, the amount received on surrender is taxable to the extent it exceeds the cost basis.

**Collateral Assignments and Gratuitous Transfers** 

If you transfer ownership of your Non-Qualified contract to a person other than your spouse (or former spouse incident to a divorce) you will owe federal income tax on the contract's cash surrender value to the extent it exceeds your cost basis. The transferee's cost basis will be increased to reflect the amount the transferor includes in income.

An assignment or pledge (or agreement to assign or pledge) of any portion of a Non-Qualified Contract will be treated as a withdrawal. If the entire contract value is assigned or pledged, subsequent increases in the contract value are also treated as withdrawals for as long as the assignment or pledge remains in place. The cost basis is increased by the amount included in income with respect to such assignment or pledge.

**Aggregation Rule** 

If you purchase multiple non-qualified annuity contracts from the same insurance company (or its affiliates), within the same calendar year, the IRS generally requires these annuity contracts to be aggregated and treated as a single contract for purposes of

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determining the taxable income associated with any distribution taken from the contracts for tax purposes. For purposes of this rule, contracts received in a Section 1035 exchange will be considered issued in the year of the exchange. (However, the contracts may be treated as issued on the issue date of the contract being exchanged, for certain purposes, including determining whether the contract is an immediate annuity contract.) Aggregation impacts the amount of the distributions described above that is subject to taxation (and potentially subject to the 10% additional tax, if applicable). Owners should seek their own tax advice if you are purchasing more than one annuity from the same insurance company (or its affiliates) in the same calendar year.

**Annuity Payments** 

If you annuitize your Non-Qualified Contract, a portion of each annuity income payment will be considered, for tax purposes, to be a return of a portion of your cost basis. The portion of each annuity income payment that is considered a return of your cost basis will not be taxed. Your annuity income payment will be considered fully taxable after you have received a return of the entire amount of your cost basis.

**Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from a non-qualified annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax if the Owner is under 59½, unless another exception applies. **You should consult your tax advisor regarding these features and benefits prior to purchasing a Contract.** 

Upon death, any remaining amounts in the Contract must be distributed in accordance with the requirements under the Code. For deaths that occur after the Contract's annuity start date, payments under the Annuity Option elected will continue to be paid at least as rapidly as under the method of distribution in effect at such Owner's death. For deaths that occur prior to the Contract's annuity start date, the entire interest in the Contract can be paid in one of the following manner:

(1) Lump sum payment of the death benefit.

(2) Payment of the entire death benefit within five years of the date of any Owner's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(3) Payment of the death benefit over the lifetime of the beneficiary or over a period not extending beyond the life expectancy of the beneficiary. Under this option, distributions must begin within one year of the date of any Owner's death. Note - This option is not available for a beneficiary that is a non-natural person.

(4) Spousal Option Only. The spousal beneficiary can elect to treat the annuity contract as their own.

Special rules apply if the Owner is a non-natural person, where the annuitant is generally treated as the Owner.

**10% Additional Tax** 

The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC);

• when paid as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated Beneficiary;

• under an immediate annuity contract; or

• when attributable to Purchase Payments made prior to August 14, 1982.

Other exceptions may available depending on contract type and your circumstances. **Please consult your tax advisor or** www.irs.gov **for more information.** 

**Net Investment Income Tax** 

There is a 3.8% tax on net investment income for Owners with Modified Adjusted Gross Income ("MAGI") that exceeds certain thresholds based on the type of filer. Further information may be found on www.irs.gov. For this purpose, net investment income generally will include taxable distributions from a Non-Qualified Contract. It is also possible the tax could apply to other taxable amounts relating to your Non-Qualified Contract. **Please consult your tax advisor**. This tax generally does not apply to Qualified Contracts; however, taxable distributions from such contracts may be considered in determining the MAGI threshold.

**Tax Treatment of Exchanges** 

The Non-Qualified Contract may be issued in exchange for all or part of another annuity contract that you own. In addition, the Contract Owner may be permitted to exchange the Contract for a new annuity contract prior to the commencement of annuity income payments. A full or partial exchange of one annuity contract for another is a tax-free transaction under IRC section 1035, provided that the requirements of that section are satisfied. Please note that the exchange may be tax reportable. If

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you exchange part of an existing annuity contract for another annuity contract, and within 180 days of the exchange you receive a distribution other than certain annuity payments, the exchange may not be tax free. **You should consult a tax advisor when exchanging part or all of an annuity contract.** 

**Qualified Contracts** 

Qualified Contracts taxation varies with the type of plan and terms and conditions of each specific plan. You will get no additional tax advantage from this Contract if you are investing through a Qualified Contract beyond the treatment provided to alternative qualifying arrangements such as trusts or custodial accounts. However, in both cases the Contract offers features and benefits that other investments may not offer. You and your financial representative should carefully consider whether the features and benefits, including the investment options, lifetime annuity income options, protection through Living Benefits, death benefits and other benefits provided under an annuity contract issued in connection with a Qualified Contract are suitable for your needs and objectives and are appropriate in light of the expense.

The terms of the plan may limit the rights otherwise available under the Contracts. The Code and, if applicable, your Contract or Qualified Arrangement, may have limitations and restrictions such as: the amount that can be contributed; the form, manner and timing of distributions; vesting and non-forfeitability of interests; nondiscrimination in eligibility and participation; and the tax treatment of distributions, withdrawals and surrenders. Some of these limitations are adjusted annually. **Please see www.IRS.gov or consult your tax advisor.** 

The following are general summary descriptions of the types of Qualified Arrangements with which the Qualified Contracts may be used. Not all plan types will be available under your Contract. Descriptions of such arrangements are not exhaustive and are for general information purposes only. The tax rules regarding Qualified Arrangements are very complex and will have differing applications depending on individual facts and circumstances. **Each prospective purchaser should obtain competent tax advice prior to purchasing a contract issued under a qualified plan.** 

***Plans of Self-Employed Individuals: "H.R. 10 Plans"*** 

***Pension and Profit Sharing Plans 401(a)/401(k)*** 

***Tax-Sheltered Annuity (403(b))*** 

In general, certain Contracts originally established by a IRS Revenue Ruling 90-24 transfer prior to September 25, 2007 are exempt (or grandfathered) from some of the requirements of the regulations; provided that no salary reduction or other contributions have ever been made to the Contract, and that no additional transfers are made to the Contract on or after September 24, 2007.

***SIMPLE IRA*** 

Employers with 100 or fewer employees can maintain a SIMPLE IRA plan. Employer and employee contributions under a SIMPLE IRA Plan are made to a separate SIMPLE IRA for each employee. Employer contributions must be in the form of matching contribution or a nonelective contribution of a percentage of compensation as specified in the Code. The employee is always 100% vested in (or, has ownership of) all SIMPLE IRA money.

***Traditional Individual Retirement Annuities (IRA), SEP IRA, or Roth IRA*** 

The IRA Disclosure Statement, ROTH IRA Disclosure Statement, or Traditional, SEP, and Roth Individual Retirement Annuity (IRA) Combined Disclosure Statement which was received at the time of original issue of your IRA, SEP IRA or Roth IRA contains information about eligibility, contribution limits, distribution restrictions and other tax information. For further information about contributions and distributions from your IRA, please see Publications 590-A and 590-B on the IRS website at www.irs.gov.

***Traditional Individual Retirement Annuities*** 

Section 408(b) of the Code permits eligible individuals to contribute to an individual retirement program known as a traditional IRA. Under applicable limitations, certain amounts (adjusted annually) may be contributed to an IRA. Such contributions may be deductible, depending on your modified gross income.

***Roth IRAs*** 

Section 408A of the Code permits an individual to contribute to an individual retirement account called a Roth IRA. Contributions to a Roth IRA are not deductible, but distributions are tax-free if certain requirements are satisfied. Unlike traditional IRAs, to which everyone can contribute even if they cannot deduct the full contribution, Roth IRAs have income limitations on who can make regular cash contributions.

***Simplified Employee Pension Plan ("SEP") IRA*** 

Sole proprietors, partnerships, and corporations, including S corporations, can set up SEPs. Employer contributions under a SEP are made to a separate IRAs established for each participating employee, and generally must be made at a rate representing a uniform percent of participating employees' compensation. Through 1996, employees of certain small employers (other than tax-exempt organizations) were permitted to establish plans allowing employees to contribute pretax, on a salary reduction basis, to the SEP (known as SARSEPs).

***Deferred Compensation Plans — Section 457*** 

A unit of a state or local government may establish a deferred compensation program for individuals who perform services for the government unit if permitted by applicable state (and/or local) laws. In addition, a non-governmental tax-exempt employer may establish a deferred compensation program for individuals who: (i) perform services for the employer, and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(ii) belong to either a select group of management or highly compensated employees or, if provided under the deferred compensation arrangement, independent contractors.

The employer uses deferred amounts to purchase the Contracts offered by this prospectus. For plans maintained by a unit of a state or local government, the Contract is generally held for the exclusive benefit of plan Participants. For plans of non-governmental tax-exempt employers, the employee has no present ownership rights in the Contract and is entitled to payment only in accordance with the eligible deferred compensation plan (an "EDCP") provisions and, where applicable, any trust under which the Contract may be held. Non-governmental 457 plan assets must remain assets of the employer and are subject to claims by the creditors of the employer.

Under these plans, contributions made for the benefit of the employees will not be includible in the employees' gross income until distributed from, or if a non-governmental tax-exempt employer, otherwise made available to the recipient.

**Tax Treatment of Purchase Payments** 

For employer-sponsored arrangements, Purchase Payments under Qualified Contracts can be made as contributions by employers or as pre-tax or after-tax contributions by employees, depending on the type of retirement program. For IRAs, Purchase Payments also can be made as a pre-tax or after-tax contribution. If you make contributions on a pre-tax basis, then you have no cost basis in your Contract. However, you normally will have cost basis in a Roth IRA, a designated Roth account in a 403(b), 401(k), or governmental 457(b) plan, and you may have cost basis in a non-deductible traditional IRA or in another Qualified Contract.

Limitations and restrictions may apply to Purchase Payments. **Please refer to www.IRS.gov for further information, as these limitations and restrictions may be based on several factors.** 

**Various penalty and excise taxes may apply to contributions made in violation of applicable contribution limits. You should consult a qualified tax advisor associated with any questions related to the contribution to or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

**Tax Treatment of Distributions** 

Distributions from Qualified Contracts, other than IRAs and Roth IRAs, are often limited by the IRC and by the terms of the employer-sponsored retirement plan. In some cases, distributions are not available unless there has been a distributable event as defined by the terms of the plan. All distributions are tax at ordinary income tax rates. Various penalty taxes may apply to distributions made in violation of applicable requirements. Furthermore, certain contractual withdrawal penalties and restrictions may apply to surrenders from Qualified Contracts. **You should consult a qualified tax** 

**advisor associated with any questions related to the distribution or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

***Non-Roth Qualified Contracts****.* Distributions from Qualified Contracts other than Roth IRAs and designated Roth accounts (described below) are taxable, except to the extent allocable to after-tax contributions or non-deductible traditional IRA contributions.

***Roth IRAs and Designated Roth Accounts.*** "Qualified" distributions from Roth IRAs and Designated Roth Accounts upon attainment of age 59½, upon death or disability, or for qualifying first-time homebuyer expenses (Roth IRAs only) are tax-free as long as five or more years have passed since the first contribution to the taxpayer's first Roth IRA or Designated Roth Account. Qualified distributions may be subject to state income tax in some states. Special tax rules will apply to distributions that are not qualified and such distributions are generally subject to the same 10% additional tax on amounts included in income as for other IRAs. Distributions of rollover or conversion contributions may be subject to a 10% additional tax if the distribution of those contributions is made within five years of the rollover or conversion.

***Designated Roth and Roth IRA Conversions.*** All persons may be eligible to convert a distribution from an employer-sponsored plan or from a traditional IRA into a Roth IRA. Conversions from qualified contracts into Roth IRAs normally require taxes to be paid in the year of the conversion on any previously untaxed amounts included in the amount converted. The taxable value of such a conversion may consider the value of certain benefits under the Contract.

***457 Plans.*** Amounts received from an EDCP are includible in gross income for the taxable year in which they are paid or, if a non-governmental tax-exempt employer, otherwise made available to the recipient.

***Annuitization****.* If you annuitize your Qualified Contract, special tax rules apply to determine the taxable amount of your annuity income payment depending on your Qualified Arrangement. **Please consult your tax advisor.** 

***10% Additional Tax.* You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any.** The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner of a Qualified Contract reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC); and

• as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint expectancies) of you and your designated Beneficiary.

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Other exceptions may be applicable under certain circumstances. In addition, you may be able to repay certain distributions if certain requirements are satisfied. Distributions from a SIMPLE IRA within two years after first participating in the Plan may be subject to a 25% additional tax, rather than a 10% additional tax.

**Direct and Indirect Rollovers** 

A rollover distribution, including eligible rollover distributions as defined below, from an IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan may generally be rolled over into another IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan, if permitted by the plan.

An eligible rollover distribution is the taxable portion of any amount received by a covered employee from a retirement plan qualified under Sections 401(a) or 403(a) or, if from a plan of a governmental employer, under Section 457(b) of the Code, or from a tax-sheltered annuity qualified under Section 403(b) of the Code. Generally, certain types of distributions are not considered eligible rollover distributions, such as distributions received on account of:

a)

a required minimum distribution,

b)

a hardship withdrawal, or

c)

a series of substantially equal payments (at least annually) made over your life expectancy or the joint life expectancies of you and your designated Beneficiary, or a distribution made for a specified period of 10 years or more.

A rollover distribution (including an eligible rollover distribution) may be transferred as a direct or indirect rollover. In a direct rollover, the funds are directly transferred from one Qualified Arrangement to another. In an indirect rollover, the individual receives a distribution from the Qualified Arrangement and reinvests it in another Qualified Arrangement within 60 days of the distribution. For indirect rollovers, you must include in your income for the year the taxable amount of any portion of the distribution that you do not roll over. An indirect rollover of an eligible rollover distribution will be subject to a mandatory 20% withholding tax (described below).

Individuals are only permitted to make one indirect rollover from an IRA to another IRA in any one-year period. It is important to note that the one rollover per year limitation does not apply to amounts taken as an eligible rollover distribution from an employer sponsored retirement arrangement or from amounts transferred directly between IRAs in a trustee-to-trustee transfer.

Funds may generally be rolled over tax-free from a SIMPLE IRA to another IRA. However, during the two-year period beginning on the date you first participate in any SIMPLE IRA plan of your employer, SIMPLE IRA funds may only be rolled to another SIMPLE IRA.

**You should always consult your tax advisor before you move or attempt to move any funds.** 

**Tax Treatment of Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from an annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax described above if the Owner is under 59½, unless another exception applies. The IRS may consider these benefits "incidental death benefits" or "life insurance." **You should consult your tax advisor regarding these features and benefits prior to purchasing a Qualified Contract.** See below for required distributions after the death of the owner.

**Required Minimum Distributions** 

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your Qualified Arrangement each year after your required beginning date. The RMD rules do not apply to Roth IRAs or designated Roth accounts when the Owner is alive.

Failure to satisfy the minimum distribution requirements may result in an excise tax. A 25% excise tax may be assessed on any RMD that is required but not taken timely. However, if the late RMD is taken within a two-year period, the penalty may be reduced to 10% if certain conditions are satisfied. **You should consult your tax advisor for more information.** 

**Required Beginning Date** 

Generally, the IRC requires that you begin taking annual distributions from Qualified Contracts by December 31 of the calendar year in which you attain the "applicable age":

• Age 75 if you were born January 1, 1960 or later.

• Age 73 if you were born on or after January 1, 1951, and before January 1, 1960.

• Age 72 if you were born on or after July 1, 1949, and before January 1, 1951.

• Age 70 ½ if you were born before July 1, 1949.

For employer sponsored retirement plans, you must begin distributions on the later of (1) reaching the applicable age, or (2) the calendar year in which you sever employment from the employer sponsoring the plan.

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You may choose to delay your first distribution until April 1 of the calendar year following in which you reach the applicable age or sever employment, as applicable. However, if you choose to delay your first distribution, you will be required to withdraw your second RMD on or before December 31 in that same year. For each year thereafter, you must withdraw your RMD by December 31.

For 403(b) contracts, amounts accumulated under a Contract on December 31, 1986, may be subject to special distribution rules.

**Combining Distributions from Multiple Qualified Contracts** 

If you own more than one IRA, you may be permitted to take your RMD in any combination from your IRAs. A similar rule applies if you own more than one 403(b) account, unless the Plan, Contract, or account otherwise provides. However, you cannot satisfy this distribution requirement for your IRA contract by taking a distribution from a 403(b) account, and you cannot satisfy the requirement for your 403(b) account by taking a distribution from an IRA.

**Automatic Withdrawal Option** 

If available, you may elect to have the RMD amount for your Contract calculated and withdrawn each year under the automatic withdrawal option. You may select monthly, quarterly, semiannual, or annual withdrawals for this purpose. This service is provided as a courtesy, and we do not guarantee the accuracy of our calculations.

**Impact of Optional Benefits** 

The annuity contract value used to determine RMDs includes the actuarial present value of other benefits under the Qualified Contract, such as enhanced death benefits and/or Living Benefits. However, please note that not all Contracts have enhanced death benefits and/or Living Benefits. As a result, if you request a minimum distribution calculation, or if one is otherwise required to be provided, in those specific circumstances where this requirement applies, the calculation may be based upon a value that is greater than your contract value, resulting in a larger RMD. This does not apply to RMDs made under an irrevocable annuity income option.

If you have purchased the IncomeLOCK or IncomeLOCK Plus benefit option, the calculation of the RMD may include the value of the IncomeLOCK or IncomeLOCK Plus and may increase the amount of the RMD. IncomeLock and IncomeLock Plus benefit options are no longer available for purchase.

**We recommend you consult your tax advisor concerning your required minimum distribution.** 

**Required After Death Distributions** 

Upon death, any remaining amounts in the Qualified Contract must be distributed in accordance with the requirements under the IRC. The timing of these distributions will depend on whether the death occurs before the owner was required to take RMDs, the type of Beneficiary, and the beneficiary's relationship to the deceased owner. The information provided below applies to Owners who die after 2019 (after 2021 for certain governmental and collectively bargained retirement plans). **For Owners' deaths prior to such dates, individuals should consult a tax advisor regarding the applicable after-death distribution requirements**.

Eligible designated Beneficiaries ("EDB") are generally a natural person designated as beneficiary ("designated beneficiaries") who are also:

• the surviving spouse of the owner;

• a minor child of the owner;

• a qualifying disabled or chronically ill beneficiary; or

• an individual who is not more than ten years younger than the owner.

If the Beneficiary is an EDB, , the entire amount in the Contract generally must be paid to the EDB:

• if the owner had not reached their required beginning date for RMDs

• within 10 years after the owner's death, or

• by December 31st of the year following the year of death and be paid over the lifetime or single life expectancy of the EDB; or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

Exceptions to this rule may apply in the case of an EDB who is also the owner's spouse or minor child.

If a Beneficiary is a designated beneficiary, the entire amount in the Contract must be distributed either:

• if the owner had not reached their required beginning date for RMDs, within 10 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

If the Beneficiary is not a designated beneficiary or an EDB, the Beneficiary must receive the entire amount in the Contract:

• if the owner had not reached their required beginning date for RMDs, within 5 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner.

Additional rules, requirements, and exceptions may apply. **Please consult a tax advisor.** 

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**Gifts, Pledges, Assignments of and/or Loans from a Qualified Contract** 

Qualified Contracts are prohibited from being transferred, assigned or pledged as security for a loan. This generally does not apply to loans under an employer-sponsored retirement plan (including loans from the annuity contract) that satisfy certain requirements, provided that the plan is not an unfunded deferred compensation plan. Another exception to this rule includes an assignment pursuant to a domestic relations order meeting the requirements of the plan or arrangement under which the contract is issued (for many plans, a Qualified Domestic Relations Order, or QDRO), or, in the case of an IRA, pursuant to a decree of divorce or separation maintenance or a written instrument incident to such decree.

For certain qualified arrangements, a default of a loan may be considered a taxable distribution and may be subject to a 10% additional tax if the distribution occurred prior to your attainment of age 59.5 unless an exception applies. Please see the terms of your loan for specifics regarding your loan and the tax impact of defaults.

**You should consult a tax advisor as to the availability of these and any other exceptions.** 

**Tax Withholding and Reporting** 

Taxable amounts distributed from annuity contracts are subject to federal and state income tax reporting and withholding. In general, we will withhold federal income tax from the taxable portion of such distribution based on the type of distribution and, in certain cases, the amount of your distribution. An election out of federal withholding must be made in accordance with the IRS guidance as directed on forms that we provide. If an election out of withholding or election of another amount is not made, withholding is imposed (1) for periodic payments, at the rate that would be imposed if the payments were wages, and the payee was single with no adjustments, or (2) for other distributions, at the rate of 10%. If you are a U.S. person (which includes a resident alien), and your address of record is a non-U.S. address, we are required to withhold income tax unless payments are directed to your U.S. residential address. We are also required to withhold if you do not provide a valid TIN.

State income tax withholding rules vary, and we will withhold based on the rules of your state of residence. Your state may require any election associated with withholding to be undertaken on the state's prescribed form.

Special tax rules apply to withholding for non-United States persons, and we generally withhold income tax for such non-United States persons at a rate of 30% of the taxable amount. A different withholding rate may be applicable to a non-United States person based on the terms of an existing income tax treaty between the United States and the non-United States person's country. To qualify for any reduced withholding, the non-United States person must provide applicable certifications under Form W-8 BEN-E, Form W-8IMY, or other applicable form.

Any Form W-8, including the Form W-8 BEN-E and Form W-8IMY, is only effective for three years from date of signature unless a change in circumstances makes any information on the form incorrect. You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any. Note, any payments made to a foreign entity, where such entity fails to provide the applicable certifications, may result in a 30% withholding on certain gross payments, which could include distributions from annuity contracts.

Any income tax withheld is a credit against your income tax liability. Regardless of the amount withheld by us, you are liable for payment of federal and state income tax on the taxable portion of annuity distributions. You should consult with your tax advisor regarding the payment of the correct amount of these income taxes and potential liability if you fail to pay such taxes.

**20% Federal Income Tax Withholding on Eligible Rollover Distributions** 

For certain qualified employer sponsored plans, we are required to withhold 20% of the taxable portion of your withdrawal that constitutes an eligible rollover distribution for Federal income taxes. This requirement is mandatory and cannot be waived by the owner. You may avoid withholding if you do a direct rollover between Qualified Arrangements.

**Generation Skipping Transfer Tax Withholding** 

Under certain circumstances, the IRC may impose generation skipping transfer tax when all or a part of an annuity contract is transferred (including a death benefit paid) to an individual two or more generations younger than the owner. The Company may be required to undertake withholding associated with such a transaction. **Contract Owners should consult a tax advisor with any questions.** 

***Advisory Fees*** 

**Non-Qualified Contracts** 

The IRS has issued a private letter ruling (PLR) to the Company recognizing the ability, in specific circumstances, to not treat the payment of investment advisory fees to an investment advisor from Non-Qualified Contracts as a taxable withdrawal from the Contracts. ***Only the Company can rely on the PLR from the IRS.*** 

Under the terms of the Company's PLR, the Advisory Agreement with the Investment Advisor must provide that the Investment Advisor will help you select investment options for the Contract. Advisory Program Fees for such services must not exceed an annual rate of 1.50% of the Contract's cash value for the period to which the Advisory Program Fees relate. The Contract owner is solely liable for the fees. The Advisory Program Fees may not constitute compensation to the Advisor for services related to any assets other than the Contract. The Advisory Program Fees

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are an expense of the Contract and not a distribution to you as the owner. Any payment of advisory fees inconsistent which such requirements may be treated as withdrawals for tax purposes by the Company and/or by the IRS. Notwithstanding the tax treatment of Advisory Program Fees by the Company, federal and/or state taxing authorities could determine that such fees should be treated as taxable withdrawals. In such circumstances any fees prior to your attainment of age 59½ could also result in a 10% additional tax.

The Company only administers the terms of the PLR for the GPS and GPA Advisory Programs, which are offered through VFA, our affiliate. Accordingly, the description above only applies to such programs. This means if you participate in a third-party Advisory Program and VFA is not your Investment Advisor, partial withdrawals, including Investment Advisor fees, taken from a Non-Qualified Contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution.

**Qualified Contracts** 

The IRS has issued multiple private letter rulings recognizing the ability, in specific circumstances, to treat the payment of investment advisory fees to an investment advisor out of

Qualified contracts as non-taxable withdrawals from the contracts. The restrictions for Qualified Contracts are similar to those outlined for Non-Qualified.

***Civil Unions and Domestic Partnerships*** 

Parties to a state civil union or domestic partnership are not treated as married under federal law. Accordingly, certain transactions (such as a change of ownership or spousal continuation) may be taxable to those persons. Contract Owners should consult a tax advisor with any questions.

***Our Taxes*** 

The Company is taxed as a life insurance company under the Code. For federal income tax purposes, the Separate Account is not a separate entity from the Company and its operations form a part of the Company. We are entitled to certain tax benefits related to the investment of company assets, including assets of the Separate Account, which may include foreign tax credits and the corporate dividends received deduction. These potential benefits are not passed back to you, since we are the owner of the assets from which tax benefits may be de

**Legal Proceedings**

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There are no material pending legal proceedings affecting the Separate Account, the Company, or the principal underwriter. Various federal, state or other regulatory agencies may from time to time review, examine or inquire into the operations, practices and procedures of the Company, such as through financial examinations, subpoenas, investigations, market conduct exams or other regulatory inquiries. Based on the current status of pending regulatory examinations, investigations and inquiries involving the Company, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to

perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

Various lawsuits against the Company have arisen in the ordinary course of business. As of the date of this prospectus, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

**Financial Statements**

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Information about the financial statements of the Company and the Separate Account and American Home (if applicable to you) are included in the SAI. Instructions for obtaining the SAI can be

found on the back cover of this prospectus. We encourage both existing and prospective contract owners to read and understand the financial statements.

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**Appendix A — Investment Options Available Under the Contract**

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**If your Contract is through certain employer-sponsored qualified retirement plans, the availability of certain Portfolio Companies can vary based on your employer. Refer to your employer's retirement program documents for a list of the employer-selected Portfolio Companies available in your Contract and any limitations on the number of Portfolio Companies you may choose. All Portfolio Companies may not be available for all plans or Contracts.** 

The following is a list of Portfolio Companies available under the Contract. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at www.corebridgefinancial.com/rs/prospectus-and-reports/annuities. You can also request this information at no cost by calling 1-800-448-2542. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies. See "Investment Restrictions for Optional Living Benefits" in this appendix.

The current expenses and performance information below reflect fees and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company's past performance is not necessarily an indication of future performance.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; American Beacon Man Large Cap<br> Growth Fund<sup>3, 5</sup> – Investor Class<br> *Adviser: American Beacon Advisors, Inc.*<br> *Sub-Adviser: Numeric Investors LLC*<br>| 1.12% |  | 1.12% | 15.86% | 11.19% | 15.61%\* |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Capital Appreciation Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Columbia Management Investment Advisers, LLC*<br>| 0.73% |  | 0.73% | 14.19% | 14.69% | 15.33% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Dividend Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock Investment Management, LLC and* <br> *ClearBridge Investments, LLC*<br>| 0.67% |  | 0.67% | 18.21% | 11.55% | 10.40% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock*<br>| 0.61% |  | 0.61% | 14.57% | 11.57% | 15.67% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Large Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM and T. Rowe Price Company*<br>| 0.66% |  | 0.66% | 9.81% | 10.02% | 14.27% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Nasdaq-100<sup>®</sup> Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.42% |  | 0.42% | 20.42% | 14.73% | 19.06% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Stock Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.23% |  | 0.23% | 17.55% | 14.08% | 14.46% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Core Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Goldman Sachs*<br>| 0.64% |  | 0.64% | 14.77% | 12.45% | 13.89% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs Asset Management, L.P. and* <br> *Wellington Management Company LLP*<br>| 0.64% |  | 0.64% | 17.66% | 10.29% | 14.83% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.65% |  | 0.65% | 17.41% | 13.25% | 10.31% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; U.S. Socially Responsible Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 14.73% | 11.77% | 12.91% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Vanguard Windsor II Fund<sup>3</sup> – Investor Shares<br> *Advisers: Aristotle Capital Management, LLC; Hotchkis and Wiley* <br> *Capital Management, LLC; Lazard Asset Management LLC; and* <br> *Sanders Capital, LLC*<br>| 0.33% | 0.25% | 0.58% | 18.56% | 12.89% | 12.61% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Appreciation Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel Investments, LLC*<br>| 1.15% |  | 1.15% | 11.11% | 7.57% | 7.95% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Strategic Growth Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Janus Henderson Investors US LLC and Voya* <br> *Investment Management Co. LLC*<br>| 0.74% |  | 0.74% | 11.34% | 7.88% | 13.56% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Value Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Boston Partners Global Investors, Inc. d/b/a* <br> *Boston Partners and Wellington Management*<br>| 0.83% |  | 0.83% | 7.23% | 10.19% | 9.29% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Index Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 6.95% | 8.68% | 10.34% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel*<br>| 1.01% |  | 1.01% | 14.15% | 9.36% | 9.51% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: American Century Investment Management, Inc.* <br> *and T. Rowe Price Associates, Inc.*<br>| 0.88% |  | 0.88% | 9.20% | -2.35% | 11.01% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.38% |  | 0.38% | 12.23% | 5.69% | 9.27% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Invesco Advisers, Inc.*<br>| 0.93% |  | 0.93% | -3.03% | 6.57% | 8.39% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.84% |  | 0.84% | 12.16% | 9.55% | 8.54% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; Global Strategy Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Franklin Advisers, Inc. and Brandywine Global* <br> *Investment Management LLC*<br>| 0.63% |  | 0.63% | 20.73% | 7.18% | 5.85% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; International Socially Responsible Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.55% |  | 0.55% | 27.32% | 7.80% | 9.10% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; Emerging Economies Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 1.02% |  | 1.02% | 30.11% | 4.19% | 8.04% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Equities Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.39% |  | 0.39% | 30.81% | 8.47% | 7.82% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Morgan Stanley Investment Management Co.*<br>| 0.82% |  | 0.82% | 16.07% | 1.86% | 8.33% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Opportunities Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Invesco Advisers, Inc. and Wellington* <br> *Management*<br>| 1.01% |  | 1.01% | 27.46% | 2.74% | 6.76% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs and Columbia Management* <br> *Investment Advisers, LLC*<br>| 0.81% |  | 0.81% | 39.97% | 10.60% | 8.10% |

---

------

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Specialty**<br> &nbsp;&nbsp; Global Real Estate Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Duff & Phelps Investment Management Co. and* <br> *MFS*<br>| 0.90% |  | 0.90% | 7.70% | 1.77% | 3.39% |
| **Specialty**<br> &nbsp;&nbsp; Invesco Balanced-Risk Commodity Strategy Fund<sup>3, 5</sup> – Class R5<br> *Adviser: Invesco Advisers, Inc.*<br>| 1.05% |  | 1.05% | 18.94% | 9.41% | 6.23% |
| **Specialty**<br> &nbsp;&nbsp; Science & Technology Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock, Voya*<br>| 0.91% |  | 0.91% | 22.57% | 11.59% | 18.92% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 16.94% | 8.73% | 9.38% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Asset Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.65% |  | 0.65% | 11.50% | 8.17% | 7.75% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Conservative Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.59% |  | 0.59% | 11.79% | 4.34% | 5.85% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Dynamic Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: AllianceBernstein L.P.*<br>| 0.83% |  | 0.83% | 11.33% | 5.60% | 7.49% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Moderate Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 14.40% | 7.01% | 8.10% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2015 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.74% |  | 0.74% | 11.83% | 5.05% | 6.89% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2020 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.76% |  | 0.76% | 12.23% | 5.34% | 7.42% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2025 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.78% |  | 0.78% | 12.71% | 5.76% | 8.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2030 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.80% |  | 0.80% | 14.10% | 6.51% | 8.77% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2035 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.83% |  | 0.83% | 15.84% | 7.42% | 9.50% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2040 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.84% |  | 0.84% | 17.16% | 8.17% | 10.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2045 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.85% |  | 0.85% | 18.23% | 8.77% | 10.55% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2050 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.87% |  | 0.87% | 18.53% | 8.95% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2055 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.88% |  | 0.88% | 18.70% | 8.97% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2060 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.89% |  | 0.89% | 18.63% | 8.96% | 10.62% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Conservative Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: The Vanguard Group, Inc.*<br>| 0.10% | 0.25% | 0.35% | 12.86% | 4.24% | 6.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Growth Fund<sup>3, 4</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 19.63% | 8.76% | 10.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Moderate Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 16.24% | 6.49% | 8.09% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard Wellington Fund<sup>3</sup> – Investor Shares<br> *Adviser: Wellington Management*<br>| 0.25% | 0.25% | 0.50% | 16.48% | 9.28% | 10.02% |

---

------

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Fixed Income**<br> &nbsp;&nbsp; Core Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: PineBridge Investments LLC and JPMIM*<br>| 0.48% |  | 0.48% | 7.64% | -0.16% | 2.36% |
| **Fixed Income**<br> &nbsp;&nbsp; Goldman Sachs VIT Government Money Market Fund<sup>5</sup> – <br> Institutional Shares<br> *Adviser: Goldman Sachs*<br>| 0.18% |  | 0.18% | 4.20% | 3.18% | 2.11% |
| **Fixed Income**<br> &nbsp;&nbsp; Government Securities Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.58% |  | 0.58% | 6.66% | -0.49% | 1.41% |
| **Fixed Income**<br> &nbsp;&nbsp; High Yield Bond Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.68% |  | 0.68% | 9.37% | 4.20% | 5.92% |
| **Fixed Income**<br> &nbsp;&nbsp; Inflation Protected Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.54% |  | 0.54% | 6.00% | 1.06% | 2.86% |
| **Fixed Income**<br> &nbsp;&nbsp; International Government Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: PineBridge*<br>| 0.80% |  | 0.80% | 9.15% | -2.01% | 1.64% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Investment-Grade Fund<sup>3</sup> – Investor Shares<br> *Advisers: Wellington Management and Vanguard*<br>| 0.21% |  | 0.21% | 7.18% | -3.74% | 2.68% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Treasury Fund<sup>3</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.20% |  | 0.20% | 5.54% | -7.30% | -0.04% |

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\* Average Annual Total Returns is since inception of the Portfolio Company.

<sup>1</sup> The following adviser/sub-adviser abbreviations are used in this table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allspring – Allspring Global Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ariel – Ariel Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BlackRock – BlackRock Investment Management, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Goldman Sachs – Goldman Sachs Asset Management, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco – Invesco Advisers, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• JPMIM – J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MFS – Massachusetts Financial Services Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MSIM – Morgan Stanley Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PineBridge – PineBridge Investments LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price – T. Rowe Price Associates, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• VALIC – The Variable Annuity Life Insurance Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard – The Vanguard Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Voya – Voya Investment Management Co. LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wellington Management – Wellington Management Company LLP

<sup>2</sup> A VALIC Company I Fund.

<sup>3</sup> A Public Fund. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans ("Public Funds") will not be available within your Contract.

<sup>4</sup> The Vanguard LifeStrategy Funds' board of trustees allocates each Fund's assets among the underlying funds based on the Fund's investment objective and policies. The board may change these allocations from time to time without shareholder approval. The investment adviser to the underlying funds is Vanguard.

<sup>5</sup> This Portfolio Company is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Portfolio Company prospectus for additional information.

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<sup>6</sup> A Platform Charge may only be increased to the extent that the Base Contract Expense plus the Platform Charge does not exceed 1.25%.

**Fixed Account Options**

The following is a list of Fixed Account Options currently available under the Contract. We may change the features of the Fixed Account Options listed below, offer new Fixed Account Options, and terminate existing Fixed Account Options. We will provide you with written notice before doing so.

**Note: If amounts are withdrawn from a Fixed Account Option before the end of its term, we may apply a Contract Adjustment. This may result in a significant reduction in your Contract value.** 

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| | | |
|:---|:---|:---|
| **Name** | **Term** | **Minimum Guaranteed Interest Rate** |
| Fixed Account Plus | 1-Year | 1% |
| Short-Term Fixed | 1-Year | 1% |
| Multi-Year Enhanced Option (MVA) | 3-Year, 5-Year, 7-Year, 10-Year | 1% |
| DCA Fixed Account | 6-Month, 12-Month | 1% |

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**Investment Restrictions For Optional Living Benefits** 

If you elected an optional Living Benefit, as long as your Living Benefit remains in effect, we require that you allocate your investments in accordance with the investment restrictions applicable to that benefit, as described below. Please see "Appendix B – Living Benefits" for additional information about investment restrictions.

For all optional Living Benefits, investments are not permitted in the following:

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| |
|:---|
| Multi-Year Fixed Option – 3 years |
| Multi-Year Fixed Option – 5 years |
| Multi-Year Fixed Option – 7 years |
| Multi-Year Fixed Option – 10 years |

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**IncomeLOCK +6 and IncomeLOCK +8** 

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

*If you elected IncomeLOCK +6 (Custom Allocation) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Capi Core Fund Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) or IncomeLOCK +8 on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

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*If you elected IncomeLOCK +6 (Custom Allocation) on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund\*\*\*<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account. <br>\*\*\* For Living Benefits with an Endorsement Date prior to November 1, 2011, the Emerging Economies Fund (formerly Global Equities Fund) is in Group B. For Living Benefits with an Endorsement Date on or after November 1, 2011, the Emerging Economies Fund is in Group C.

*If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to December 26, 2012, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate a certain percentage of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit before May 1, 2012, this percentage is 15%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit after May 1, 2012, this percentage is 20%.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\*If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

**IncomeLOCK** 

*If you elected IncomeLOCK on or after July 6, 2010, your Contract is subject to the following investment restrictions while your benefit remains in effect.* 

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 20% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

If you elected IncomeLOCK prior to July 6, 2010, your Contract is not subject to investment restrictions while your benefit remains in effect.

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**Appendix B — Living Benefits**

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This Appendix provides information on IncomeLOCK +6, IncomeLOCK +8 (together, "IncomeLOCK Plus") and IncomeLOCK all of which are no longer available for purchase. Effective July 2, 2012, IncomeLOCK is no longer available for purchase. Effective January 1, 2017, IncomeLOCK +6 is no longer available for purchase. Effective February 25, 2013, IncomeLOCK +8 was no longer available for purchase. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

An optional Living Benefit is designed to help you create a guaranteed income stream for as long as you live, or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if the entire Account Value has been reduced to zero, provided withdrawals taken are within the parameters of the applicable feature. A Living Benefit may offer protection in the event your Account Value declines due to unfavorable investment performance, certain withdrawal activity, if you live longer than expected or any combination of these factors. If you decide not to take withdrawals under these features, or you surrender your Contract, you will not receive the guarantees of the Living Benefit. You could pay for this feature and not need to use it. Likewise, depending on your Contract's market performance, you may never need to rely on the protections provided by a Living Benefit. If you elected IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect.

**Table of Contents** 

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| | |
|:---|:---|
| **Living Benefit Defined Terms** | **B-1** |
| **IncomeLOCK Plus** | **B-2** |
| Fee Table | B-2 |
| IncomeLOCK Plus Fee Formula | B-2 |
| IncomeLOCK Plus Features | B-3 |
| IncomeLOCK Plus Options | B-4 |
| Withdrawals under the Living Benefits | B-8 |
| Death Benefits under IncomeLOCK Plus | B-9 |
| **IncomeLOCK Plus Endorsements Issued Prior to** <br> **February 25, 2013**<br>| **B-10** |
| Fee Tables | B-10 |
| IncomeLOCK Plus Features | B-10 |
| IncomeLOCK Plus Options | B-13 |
| Surrender of Account Value | B-14 |
| Loans | B-14 |
| **IncomeLOCK** | **B-14** |
| Extension Offer | B-14 |
| Fee Table | B-15 |
| IncomeLOCK Features | B-15 |
| Surrender of Account Value | B-17 |
| Death Benefits | B-19 |
| Loans | B-19 |
| Examples | B-<u>19</u> |

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**<u>Living Benefit Defined Terms</u>** 

**Anniversary Value** — The Account Value minus any Ineligible Purchase Payments as measured on each Benefit Anniversary.

**Benefit Anniversary** — the first day of each Benefit Year.

**Benefit Base** — a component of the calculation of the Living Benefit, which is used to determine the Living Benefit fee, the MAWA and the Protected Income Payment.

**Benefit Quarter Anniversary** — is the first Business Day following each consecutive three month period starting on the Endorsement Date.

**Benefit Year** — each consecutive one year period starting on the Endorsement Date and each Benefit Anniversary, and ending on the day before the next Benefit Anniversary.

**Covered Person(s)** — the person or persons whose life or lives are used to determine the amount and duration of withdrawals under IncomeLOCK Plus. The Covered Persons are selected at the time IncomeLOCK Plus is elected and cannot be changed after the Endorsement Date. Only your life is used to determine the amount and duration of withdrawals for IncomeLOCK.

**Eligible Purchase Payments** — are Purchase Payments or portions thereof made on or after the Endorsement Date that are included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus). Note that all Purchase Payments are not Eligible Purchase Payments for purposes of calculating the Benefit Base.

**Endorsement Date** — the date we issued the Living Benefit endorsement to your Contract.

**Excess Withdrawal** — any withdrawal or portion thereof that causes the total of all withdrawals for that Benefit Year to exceed the Maximum Annual Withdrawal Amount, except if taken to meet a required minimum distribution associated with the Contract to which a Living Benefit endorsement is attached.

**Income Credit** — is an amount that may be added to the Benefit Base during the Income Credit Period.

**Income Credit Base** — is a component of the calculation of IncomeLOCK Plus, which is used to determine the dollar amount of any Income Credit during the Income Credit Period.

**Income Credit Percentage** — a percentage used to calculate any available Income Credit for IncomeLOCK Plus on each Benefit Anniversary during the Income Credit Period.

**Income Credit Period** — is the first twelve Benefit Years during which we calculate an Income Credit that may be added to the Benefit Base for IncomeLOCK Plus.

**Ineligible Purchase Payments** — are Purchase Payments or portions thereof that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus).

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**Maximum Annual Withdrawal Amount** — the maximum amount that may be withdrawn each Benefit Year and is an amount calculated as a percentage of the Benefit Base.

**Minimum Benefit Base** — is the guaranteed minimum amount to which the Benefit Base could be increased on the 12th Benefit Anniversary for IncomeLOCK Plus, provided no withdrawals are taken prior to that anniversary while the Living Benefit endorsement is in effect.

**Protected Income Payment** — the amount to be paid each year over the remaining lifetime of the Covered Person(s) under IncomeLOCK Plus, after the Account Value is reduced to zero but the Benefit Base is still greater than zero.

**<u>IncomeLOCK Plus</u>** 

The IncomeLOCK Plus Living Benefit is a guaranteed minimum withdrawal benefit. You may elect IncomeLOCK Plus only on your original Contract issue date, subject to certain age requirements. You may elect to have the Living Benefit cover only your life or the lives of both you and your spouse. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

**Fee Table** 

The fees applicable to this Living Benefit are described below. You should keep in mind that an increase in the Benefit Base due to an adjustment to a higher Anniversary Value, an Income Credit, if applicable, or subsequent Eligible Purchase Payments will result in an increase to the dollar amount of the fee. Similarly, a decrease in the Benefit Base due to withdrawals will decrease the dollar amount of the fee.

The IncomeLOCK Plus fees are assessed as a percentage of the Benefit Base for all years in which the IncomeLOCK Plus benefit is in effect. The fee will be calculated and deducted on a proportional basis from your Account Value at the end of the first quarter following election and quarterly thereafter. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons** | **Initial**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annual**<br> **Fee Rate**<br>| **Minimum**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease**<br> **or Increase\***<br>|
| One Covered Person | 1.10<br> %<br>| 2.20<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|
| Two Covered Persons | 1.35<br> %<br>| 2.70<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|

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\*

The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change

quarterly subject to the parameters identified in the table above. After the first Benefit Year, on each "Benefit Quarter Anniversary" (every consecutive three months starting on the Endorsement Date), we will deduct the fee in effect for the previous benefit quarter and determine the fee rate applicable to the next benefit quarter. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your Fee Rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the average value of the VIX from one Benefit Quarter to the next Benefit Quarter. *See "Fee Tables" in this prospectus. For the formula of how the fee is calculated, see "IncomeLOCK Plus Fee Formula" below.* 

We will not assess a quarterly fee if you annuitize your Contract or if a death benefit is paid before the end of the benefit quarter. If IncomeLOCK Plus is still in effect while your Account Value is greater than zero, and you surrender your Contract, we will assess a pro-rata charge for the fee applicable to the benefit quarter in which the surrender occurs if you surrender your Contract before the end of a benefit quarter. The pro-rata fee is calculated by multiplying the fee by the number of days between the date the fee was last assessed and the date of surrender, divided by the number of days between the prior and the next benefit quarter anniversary. If your Account Value is reduced to zero before IncomeLOCK Plus has been cancelled, the fee will no longer be assessed.

**IncomeLOCK Plus Fee Formula** 

The fee for IncomeLOCK Plus is assessed against the Benefit Base and deducted from the Account Value at the end of each Benefit Quarter.

If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the Volatility Index ("VIX"), an index of market volatility reported by the Chicago Board Options Exchange, used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. The formula is the same, and the only difference is the value of the VIX that is used.

The non-discretionary formula used in the calculation of the Annual Fee Rate applicable after the first Benefit Year is:

**Initial Annual Fee Rate + [0.05% x (Value of the VIX as of Market Close on each day the fee is calculated – 20)]** 

The Initial Annual Fee Rate is guaranteed for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table above. Any fee adjustment is based on the non-discretionary formula stated above which is tied to the change in the VIX. If the value of the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly.

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You may find the value of the VIX for any given day by going to the Chicago Board Options Exchange website, www.cboe.com.

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK +6 with a 6% Income Credit may be elected at the date of Contract issue. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years. The Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals. If you take withdrawals in any Benefit Year in excess of 6%, you will not receive any portion of the 6% Income Credit for that Benefit Year.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Amounts Received Under IncomeLOCK Plus — Summary* 

If you elect IncomeLOCK+6, you may choose from Income Option 1, 2 or 3 or the Income Option with a Custom Allocation, which determines the withdrawal percentages you will receive while the Living Benefit is in effect.

You may begin taking withdrawals as early as age 45. The amounts you receive will vary based on (1) the income option you selected, (2) whether there are one or two Covered Persons, and (3) the age of the Covered Person(s) at the time of the first withdrawal. The percentage of the Benefit Base that is guaranteed by the Living Benefits: (1) while the Account Value is greater than zero ranges from 3.25% to 6.5%, and (2) once the Account Value has been reduced to zero ranges from 3% to 5%. *See the "IncomeLOCK Plus Options — Amounts Received Under the Benefit" in this Appendix for more detailed information.* Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in this prospectus).

*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that 20% of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus. All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

The IncomeLOCK +6 (Options 1, 2 and 3) endorsement requires that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). IncomeLOCK +6 (Custom Allocation) allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short- Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

The 20% automatic allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A (IncomeLOCK +6 endorsements with Custom Allocation only). The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus

for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

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*Asset Rebalancing Program* 

We will automatically enroll you in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the restrictions. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the automatic allocation. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing.

You may modify the automatic asset rebalancing instructions at any time as long as they are consistent with the restrictions. If the Living Benefit is cancelled or terminated and the Contract remains in-force, investment restrictions will no longer apply.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

*Additional Important Information Applicable to IncomeLOCK Plus* 

**If you elect IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect. You will need to wait until after the 5th Benefit Year anniversary (the earliest IncomeLOCK Plus termination date), terminate IncomeLOCK Plus and then take a loan. When you terminate IncomeLOCK Plus, you will lose any benefits that you may have had with this feature.** 

Withdrawals under these features are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may withdraw each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus*.

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" and "Federal Tax Matters" sections of this prospectus*.

IncomeLOCK Plus may only be elected on your original Contract issue date, provided you meet the applicable issue age requirements. Note that these features and/or their components may not be available in your state. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*. In addition, effective December 26, 2012, IncomeLOCK Plus is no longer available for new enrollments under plans which are subject to the requirements of Title I of ERISA. This discontinuance will not affect participants who have already elected IncomeLOCK or IncomeLOCK Plus under such plans. Check with your financial professional for availability and any additional restrictions.

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability. **Excess Withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

**IncomeLOCK Plus Options** 

You may elect IncomeLOCK Plus only on your Contract issue date to cover either your life only or the lives of both you and your spouse. We refer to the person or persons whose lifetime withdrawals are guaranteed under IncomeLOCK Plus as the "Covered Person(s)." If your Contract is not owned by a natural person, references to Owner(s) apply to the Annuitant(s). *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

IncomeLOCK +6 locks in the greater of two values in determining the Benefit Base. The Benefit Base determines the basis of the Covered Person(s)' guaranteed lifetime benefit which must be taken in a series of withdrawals. Each consecutive one-year period starting from the Endorsement Date is considered a Benefit Year. While the Benefit Base is greater

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than zero, the Benefit Base is automatically locked in on each Benefit Anniversary, to the greater of (1) the highest Anniversary Value, or (2) the Benefit Base increased by any available Income Credit. The Income Credit is reduced but not eliminated in any Benefit Year in which withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years, even after starting withdrawals. There is an additional guarantee if you do not take any withdrawals before the 12th Benefit Anniversary (the "Minimum Benefit Base"). In that situation, the Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base on the 12th Benefit Anniversary is less than the Minimum Benefit Base, which is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Age Requirements and Covered Persons* 

To elect IncomeLOCK Plus, Covered Persons must meet the age requirements set forth below. The age requirement varies depending on the number of Covered Persons. The age requirements for other optional benefits and features under your Contract may be different than those listed here. You must meet the age requirement for those features in order to elect them.

If you elect one Covered Person:

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| | | |
|:---|:---|:---|
|  | **Covered Person** | **Covered Person** |
|  | **Minimum Age** | **Maximum Age** |
| One Covered Person | 45 | 80 |

---

If you elect two Covered Persons:

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| | | | |
|:---|:---|:---|:---|
|  | **Covered Person #1** | **Covered Person #1** | **Covered Person #2** |
|  | &nbsp;&nbsp; **Minimum**<br> **Age**<br>| &nbsp;&nbsp; **Maximum**<br> **Age**<br>| &nbsp;&nbsp; **Minimum**<br> **Age**<br>|
| Nonqualified:<br> One Owner<br> with Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|
| Qualified: One<br> Owner with<br> Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|

---

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(1) The age requirement is based solely on the single owner for purposes of issuing the Contract with the Living Benefit. The spousal beneficiary's age is not considered in determining the maximum issue age of the second Covered Person.

Covered Persons can be any of the following:

If you elect one Covered Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant (for Contracts not naturally-owned)

If you elect two Covered Persons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner and the 100% spousal primary beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant and the 100% spousal primary beneficiary (for Contracts not naturally-owned)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Spousal joint annuitants (for Contracts not naturally-owned)

Ownership changes can affect IncomeLOCK Plus as follows:

If you elect one Covered Person:

An ownership change that removes the Covered Person cancels the feature. Ownership changes that do not cancel the feature:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner: the natural Contract Owner and the annuitant must be the same person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner: the new natural Contract Owner and the annuitant must be the same person.

If you elect two Covered Persons:

Ownership changes that do not eliminate the second Covered Person's guarantee include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner (the natural Contract Owner and the annuitant must be the same person); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner (the new natural Contract Owner and the annuitant must be the same person).

Ownership changes that eliminate the second Covered Person's guarantee, but still provide the life guarantee for the first Covered Person include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Removal or replacement of the original spousal beneficiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Removal of second Covered Person as Contract Owner or spousal beneficiary as a result of a divorce settlement.

Note also that if a Contract is non-naturally owned, a change of annuitant is not permitted.

*Amounts Received under the Benefit* 

The amount you can receive differs depending on the Income Credit option you have elected and whether the Account Value is greater than or equal to zero. While the Account Value is greater than zero, the Maximum Annual Withdrawal Percentage represents the percentage of the Benefit Base used to calculate the Maximum Annual Withdrawal Amount that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to

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zero, the Protected Income Payment Percentage represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year over the

remaining lifetime of the Covered Person(s). *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.*

The applicable Maximum Annual Withdrawal Percentage and Protected Income Payment Percentage depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. The first percentage represents the Maximum Annual Withdrawal Percentage and the second percentage represents the Protected Income Payment Percentage for each of the options shown.

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons and Age of Covered Person at First Withdrawal** | **Income Option 1** | **Income Option 2** | **Income Option 3** | **Custom Allocation** |
| One Covered Person (Age 64 and Younger) | 5.0% / 3.0%\* | 5.0% / 3.0%\* | 3.75% for Life | 4.5% / 3.0%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4.0% | 6.5% / 3.0% | 5.0% for Life | 4.5% / 4.0% |
| Two Covered Persons (Age 64 and Younger) | 4.5% / 3.0%\* | 4.5% / 3.0%\* | 3.25% for Life | 4.0% /3.0%\* |
| Two Covered Persons (Age 65 and Older) | 5.0% / 4.0% | 6.0% / 3.0% | 4.50% for Life | 4.0% / 4.0% |

---

\* The Protected Income Payment Percentage is 4% if the Benefit Base is increased to a new highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

*Calculation of the Value of each Component of the Benefit* 

The benefit offered by IncomeLOCK Plus is calculated by considering the factors described below. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

First, we determine the initial Benefit Base. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million (annual cap amount) without our prior approval. The initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000. In addition, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Any Purchase Payments made in contract year 1 in excess of the annual cap amount as well as all Purchase Payments received after the first contract year are considered Ineligible Purchase Payments, and are not included in the Benefit Base. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 (annual cap amount) without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Second, we consider the Income Credit Period. The Income Credit Period is the period of time over which we calculate the Income Credit. The Income Credit Period begins on the Endorsement Date and ends 12 years thereafter. The Income Credit Period may not be extended.

Third, we determine the Anniversary Value which equals your Account Value on any Benefit Anniversary minus any Ineligible Purchase Payments. The highest Anniversary Value is the current Anniversary Value that is greater than (1) all previous Anniversary Values; or (2) Eligible Purchase Payments.

Fourth, we determine the Income Credit Base which is used solely as a basis for calculating the Income Credit during the Income Credit Period. The initial Income Credit Base is equal to the initial Benefit Base. The Income Credit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Fifth, we determine the Income Credit.

The Income Credit is equal to 6% ("Income Credit Percentage") of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. If you take withdrawals in a Benefit Year that are in total less than 6% of the Benefit Base (and therefore, less than your Maximum Annual Withdrawal Amount), the Income Credit Percentage on the Benefit Year anniversary is reduced by a percentage calculated as the sum of all withdrawals taken during the preceding Benefit Year, divided by the Benefit Base. For example, if you take a withdrawal that is equal to 4% of the Benefit Base, the Income Credit Percentage for that Benefit Year is reduced from 6% to 2%. However, if you take a withdrawal that is greater than the Maximum Annual Withdrawal Amount in the preceding Benefit Year, the Income Credit for that Benefit Year is equal to zero.

Sixth, we determine the Maximum Annual Withdrawal Amount, which represents the maximum amount that may be withdrawn each Benefit Year while the Account Value is greater than zero, without reducing the Benefit Base, and if applicable, the Income Credit Base. The Maximum Annual Withdrawal Amount is calculated by multiplying the Benefit Base by the applicable Maximum Annual Withdrawal Percentage. If your Account Value

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is reduced to zero but your Benefit Base is greater than zero, the Protected Income Payment is determined by multiplying the Benefit Base by the applicable Protected Income Payment Percentage.

Finally, we consider any Excess Withdrawals. We define Excess Withdrawals as any withdrawal in a Benefit Year taken after the Maximum Annual Withdrawal Amount has been withdrawn, or any portion of a withdrawal that causes the total withdrawals in a Benefit Year to exceed the Maximum Annual Withdrawal Amount.

*Increase of the Benefit Base and Income Credit Base* 

On each Benefit Anniversary, the Benefit Base is automatically increased to the greater of (1) the highest Anniversary Value; or (2) the current Benefit Base plus the Income Credit, if any. In addition, the Benefit Base can also be increased to at least the Minimum Benefit Base on the 12th Benefit Year anniversary, **provided no withdrawals are taken prior to that anniversary.** 

On each Benefit Anniversary during the Income Credit Period (first 12 Benefit Years following the Endorsement Date), the Income Credit Base is automatically increased to the highest Anniversary Value, if the Benefit Base is also increased to the highest Anniversary Value. The Income Credit Base is not increased if an Income Credit is added to the Benefit Base.

Increases to your Benefit Base and Income Credit Base occur on Benefit Anniversaries while the Account Value is greater than zero. However, Eligible Purchase Payments can increase your Benefit Base and Income Credit Base at the time they are received. **Your Benefit Base and Income Credit Base will not increase if your Account Value was higher on days other than the Benefit Anniversary.** 

In any Benefit Year during which subsequent Eligible Purchase Payments are allocated to your Contract, any remaining withdrawals of the Maximum Annual Withdrawal Amount will be based on the increased Maximum Annual Withdrawal Amount reduced by withdrawals previously taken in that Benefit Year. If the Benefit Base is increased on a Benefit Anniversary, the Maximum Annual Withdrawal Amount will be recalculated on that Benefit Anniversary, applicable to the coming Benefit Year, by multiplying the increased Benefit Base by the applicable Maximum Annual Withdrawal Percentage.

If the Account Value has been reduced to zero, the Benefit Base will no longer be recalculated on each Benefit Anniversary. *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.* 

*Impact of Deduction of Advisory Program Fee on Living Benefits* 

If you purchased your Contract and added IncomeLOCK+6 between July 1, 2012 and December 26, 2012, you had the ability to also participate in an Advisory Program. If you did not purchase a Living Benefit between these time frames, enrolling

in an Advisory Program terminated your Living Benefit and the information below does not apply to you.

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the Living Benefit. The examples below assess the impact of the payment of an Advisory Program Fee from the Contract value upon the IncomeLOCK +6 Living Benefit, assuming an initial $100 deposit and no additional payments and no withdrawals.

(1) If, by the end of the year, the Contract Value increases to $120 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $119. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year is $106. Since the Contract value of $119 is greater than the Benefit Base of $106, the Living Benefit will be increased up to the Contract value of $119 instead of $120.

(2) If, by the end of the year, the Contract value decreases to $90 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $89. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year $106 which will be used because it is higher than the Contract value.

**Please note**, if you are participating in a third-party Advisory Program and have the Advisory Program Fee deducted from your Contract, the deduction of the fees will be deemed a withdrawal and could negatively impact your Benefit Base if the advisory fees and the income amount taken under the Living Benefit exceed the Maximum Annual Withdrawal Amount.

An Advisory Program is not available for Contracts with the IncomeLOCK +8 Living Benefit.

*Cancellation of IncomeLOCK Plus* 

IncomeLOCK Plus may be cancelled by the Contract Owner on any Benefit Quarter Anniversary after the end of the 5th Benefit Year. Cancellation will be effective on the Benefit Quarter Anniversary following receipt of a cancellation request and the fee will continue to be deducted up to and including the cancellation effective date. Prior fees taken are not returned upon cancellation. Once IncomeLOCK Plus is cancelled, the guarantees under the benefit are terminated, investment limitations no longer apply to the Contract and you may not re-elect IncomeLOCK Plus.

*Automatic Termination of IncomeLOCK Plus* 

The feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Any Excess Withdrawal that reduces the Account Value and Benefit Base to zero.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A death benefit is paid, and the Contract is terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Full surrender or termination of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Full or partial annuitization of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Upon the death of the single Covered Person (for single life benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Upon the death of the second (surviving) Covered Person (for joint lives benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Any change of ownership except as noted above.

**Withdrawals under the Living Benefits** 

The timing and amount of withdrawals will affect the amounts received under the Living Benefits, as set forth below in greater detail.

The amount of any withdrawal for any Living Benefit which exceeds the Maximum Annual Withdrawal Amount because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an Excess Withdrawal providing that all of the following conditions are met:

(1) No withdrawals in addition to the RMD are taken in that same year;

(2) Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

(3) If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70 ½ (or your applicable RMD age requirement), or retire, if applicable; and

(4) You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an Excess Withdrawal.

If you have elected IncomeLOCK +6 and the RMD amount is greater than the Maximum Annual Withdrawal Amount, but less than 6% of the Benefit Base, an Income Credit will be included in determining any Benefit Base increase in that Benefit Year.

Withdrawals made under these Living Benefits are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and

conditions of the Contract. The sum of withdrawals in any Benefit Year up to the Maximum Annual Withdrawal Amount will not be assessed a surrender charge.

**You should not elect a Living Benefit if you plan to take Excess Withdrawals since those withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

*Withdrawal under IncomeLOCK Plus* 

The Maximum Annual Withdrawal Amount, the Benefit Base and the Income Credit Base may change over time as a result of the timing and amount of withdrawals. If you take a withdrawal before the 12th Benefit Year anniversary, your Benefit Base is not eligible to be increased to the Minimum Benefit Base.

Withdrawals during a Benefit Year that in total are less than or equal to the Maximum Annual Withdrawal Amount will not reduce the Benefit Base or Income Credit Base. However, if you choose to take less than the Maximum Annual Withdrawal Amount in any Benefit Year, you may not carry over the unused amount for withdrawal in subsequent years.

Excess Withdrawals reduce your Benefit Base on the date the Excess Withdrawal occurs. Any Excess Withdrawal in a Benefit Year reduces the Benefit Base in the same proportion by which the Account Value is reduced by the Excess Withdrawal. As a result of a reduction of the Benefit Base, the new Maximum Annual Withdrawal Amount will be equal to the reduced Benefit Base multiplied by the applicable Maximum Annual Withdrawal Percentage. The last recalculated Maximum Annual Withdrawal Amount in a given Benefit Year is available for withdrawal at the beginning of the next Benefit Year and may be lower than the previous Benefit Year's Maximum Annual Withdrawal Amount. When the Account Value is less than the Benefit Base, Excess Withdrawals will reduce the Benefit Base by an amount which is greater than the amount of the Excess Withdrawal. In addition, no Income Credit will be added to the Benefit Base in that Benefit Year.

The impact of withdrawals on specific factors is further explained below:

**Benefit Base and Income Credit Base**: If the sum of withdrawals in any Benefit Year exceeds the Maximum Annual Withdrawal Amount, the Benefit Base and Income Credit Base will be reduced for those withdrawals. For each Excess Withdrawal taken, the Benefit Base and Income Credit Base are reduced in the same proportion by which the Account Value is reduced by the amount in excess of the Maximum Annual Withdrawal Amount.

**Maximum Annual Withdrawal Amount**: The Maximum Annual Withdrawal Amount is recalculated each time there is a change in the Benefit Base. Accordingly, if the sum of withdrawals in any Benefit Year does not exceed the Maximum Annual Withdrawal Amount for that year, the Maximum Annual Withdrawal Amount will not change for the next year unless your Benefit Base is

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increased. If you take an Excess Withdrawal, the Maximum Annual Withdrawal Amount will be recalculated by multiplying the reduced Benefit Base by the existing Maximum Annual Withdrawal Percentage. This recalculated Maximum Annual Withdrawal Amount is available for withdrawal at the beginning of the next Benefit Year and may be lower than your previous Maximum Annual Withdrawal Amount.

**Protected Income Payment**: If the Benefit Base is greater than zero, but the Account Value has been reduced to zero, we will pay any remaining Maximum Annual Withdrawal Amount for the current Benefit Year. Thereafter, you will receive the Protected Income Payment each year over the remaining lifetime of the Covered Person(s) which is calculated by multiplying the Benefit Base by the applicable Protected Income Payment Percentage. The Benefit Base is no longer increased on Benefit Anniversaries after the Account Value has been reduced to zero. As a result, the Protected Income Payment is calculated once and will not change. See "If your Account Value is Reduced to Zero" below.

*If your Account Value is Reduced to Zero* 

All withdrawals from the Contract, including withdrawals under IncomeLOCK Plus, will reduce your Account Value. Unfavorable investment experience and/or fees may also reduce your Account Value. If the Account Value is reduced to zero but the Benefit Base is greater than zero, we will pay the remaining Maximum Annual Withdrawal Amount. Thereafter we will pay the Protected Income Payment over the remaining lifetime of the Covered Person(s).

**If an Excess Withdrawal reduces your Account Value to zero, no further benefits are payable under the Contract and your Contract along with IncomeLOCK Plus will terminate.** 

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit is payable. Therefore, you should be aware that, particularly during times of unfavorable investment performance, withdrawals taken under IncomeLOCK Plus may reduce the Account Value to zero, thereby terminating any other benefits of the Contract. In addition, an Income Credit is not available if the Account Value is reduced to zero, even if a benefit remains payable.

When the Account Value equals zero but the Benefit Base is greater than zero, to receive any remaining Living Benefit, you must select one of the following options for payment:

1. The Protected Income Payment divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

2. Any payment option mutually agreeable between you and us.

Once you elect a payment option, it cannot be changed. If you do not select a payment option above, the remaining benefit will

be paid as an amount based on the Protected Income Payment Percentage. This amount will be divided equally and paid on a quarterly basis until the date of death of the Covered Person(s).

*Latest Annuity Date* 

If the Account Value is greater than zero and you have reached the latest Annuity Date, if applicable, the Maximum Annual Withdrawal Amount is no longer available for withdrawal under IncomeLOCK Plus. Rather, the Protected Income Payment will be calculated by multiplying the Benefit Base by the Protected Income Payment Percentage and paid until the death(s) of the Covered Person(s), as discussed under "*If your Account Value is Reduced to Zero" above.* 

If the Account Value and the Benefit Base are greater than zero on the latest Annuity Date, you must select one of the following options:

1. Annuitize the Account Value under the Contract's annuity provisions; or

2. Elect to receive the Protected Income Payment on the latest Annuity Date, divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

3. Any payment option mutually agreeable between you and us.

If you do not elect an option listed above, on the latest Annuity Date, we may annuitize the Account Value in accordance with one of the single or joint life and period certain options under the Annuity Provisions of the Contract or payments that do not exceed your life expectancy as required by the Internal Revenue Service ("IRS").

**Death Benefits under IncomeLOCK Plus** 

If there is one Covered Person and that person dies, the surviving spousal Beneficiary may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract if the Account Value is greater than zero, without IncomeLOCK Plus and its corresponding fee.

If there are two Covered Persons, upon the death of one Covered Person, the surviving Covered Person may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract with IncomeLOCK Plus and its corresponding fee.

The components of IncomeLOCK Plus in effect at the time of such continuation will not change. The surviving Covered

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Person can elect to receive withdrawals in accordance with the provisions of IncomeLOCK Plus elected based on the age of the younger Covered Person at the time the first withdrawal was taken. If no withdrawals were taken prior to the continuation, the Maximum Annual Withdrawal Percentage and the Protected Income Payment Percentage will be based on the age of the surviving Covered Person at the time the first withdrawal is taken. If the continuation occurs during the Income Credit Period, the surviving Covered Person will continue to receive any increases to the Benefit Base for highest Anniversary Values or if applicable, any Income Credit while the Account Value is greater than zero. The surviving Covered Person is also eligible to receive the Minimum Benefit Base on the 12th Benefit Anniversary if no withdrawals have been taken during the first 12 Benefit Years following the Endorsement Date.

Upon the death of the Covered Person(s), if the Account Value is greater than zero, a Beneficiary who is not a Covered Person must make an election under the death benefit provisions of the Contract, which terminates IncomeLOCK Plus.

*For more information on death benefits, see "Death Benefits" in the prospectus.* 

**<u>IncomeLOCK Plus Endorsements Issued Prior to February 25,</u> <u>2013</u>** 

Effective February 25, 2013, the IncomeLOCK +8 living benefit is no longer available for purchase. If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to February 25, 2013, the following provisions are applicable to this feature. All other IncomeLOCK Plus information provided in this Appendix under the heading "IncomeLOCK Plus" above applies to your Living Benefit except the following:

**Fee Tables** 

The IncomeLOCK Plus fee is calculated as a percentage of the Benefit Base.<sup>1</sup>

For Endorsement Dates of December 26, 2012 through February 24, 2013:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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For IncomeLOCK Plus Endorsement Dates of May 1, 2012 through December 25, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.30% | 2.60% | +/-0.25% |
| Two Covered Persons | 1.55% | 3.10% | +/-0.25% |

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For Endorsement Dates prior to May 1, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK Plus was available with two separate Income Credit options: IncomeLOCK +6, with a 6% Income Credit, and IncomeLOCK +8, with an 8% Income Credit. The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

For IncomeLOCK +6, the Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals.

For IncomeLOCK +8, the Income Credit is only available in years when no withdrawals are taken.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

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<sup>1</sup>

The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. *For a complete description of how the Benefit Base is calculated for IncomeLOCK Plus, see "IncomeLOCK Plus — IncomeLOCK Plus Options"* in this Appendix.

<sup>2</sup>

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. If the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly. *See "IncomeLOCK Plus — IncomeLOCK Plus Fee Formula" in this Appendix.*

<sup>3</sup>

The Minimum Annual Fee Rate for IncomeLOCK Plus is 0.60%.

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during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments if the feature is added on the original Contract issue date or 200% of your Account Value on the Endorsement Date if the feature was added after your original Contract issue date and prior to May 1, 2012.

*Amounts Received Under IncomeLOCK Plus* 

You may begin taking withdrawals as early as age 45. If you elected IncomeLOCK+6 on December 26, 2012 through February 24, 2013, the withdrawal percentage you receive while the Living Benefit is in effect varies according to the Income Credit Option you elected (Option 1, 2, 3 or Custom Allocation).

In addition, if you elected IncomeLOCK +6 or IncomeLOCK +8, your withdrawal percentage will vary primarily depending on (1) whether you elected one or two Covered Persons, (2) the age of the Covered Person(s) at the time of the first withdrawal and (3) whether the Account Value is greater than or equal to zero.

While the Account Value is greater than zero, the MAWP represents the percentage of the Benefit Base used to calculate the MAWA that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to zero, the PIPP represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year

over the remaining lifetime of the Covered Person(s). See "IncomeLOCK Plus — If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" in the prospectus.

The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value is greater than zero, or the MAWP, ranges from 5% to 6% for IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012 and ranges from 4.5% to 5.5% for IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012. The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value has been reduced to zero, or the PIPP, ranges from 3% to 4%. The MAWP and PIPP will vary based on (1) the Living Benefit selected (IncomeLOCK +6 or IncomeLOCK +8), (2) whether there are one or two Covered Person(s), (3) the age of the Covered Person(s) at the time of the first withdrawal, and (4) the Endorsement Date of the Living Benefit.

Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in the prospectus).

The applicable MAWP and PIPP depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. **The first percentage represents the MAWP and the second percentage represents the PIPP for each of the options shown.**

*For IncomeLOCK Plus with an Endorsement Date on December 26, 2012 through February 24, 2013:* 

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **Income**<br> **Option 1**<br>| &nbsp;&nbsp; **Income**<br> **Option 2**<br>| &nbsp;&nbsp; **Income**<br> **Option 3**<br>| &nbsp;&nbsp; **Custom**<br> **Allocation**<br>|
| One Covered Person (Age 64 and Younger) | 5.5% / 3%\* | 5.5% / 3% | 3.75% for Life | 4.5% / 3%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4% | 6.5% / 3% | 5% for Life | 4.5% / 4% |
| Two Covered Persons (Age 64 and Younger | 5% / 3%\* | 5% / 3% | 3.25% for Life | 4% / 3%\* |
| Two Covered Persons (Age 65 and Older) | 5% / 4% | 6% / 3% | 4.50% for Life | 4% / 4% |

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\* The PIPP is 4% if the Benefit Base is increased to a new Highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

**IncomeLOCK +8** 

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| | |
|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **MAWP**<br> **and**<br> **PIPP**<br>|
| One Covered Person (Age 64 and Younger) | 3.75% for Life |
| One Covered Person (Age 65 and Older) | 4.75% for Life |
| Two Covered Persons (Age 64 and Younger | 3.25% for Life |
| Two Covered Persons (Age 65 and Older) | 4.25% for Life |

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*For IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 5.5% / 3% | 5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 5.5% / 4% | 5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5% / 3% | 4.5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5% / 4% | 4.5% / 4% |

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*For IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 6% / 3% | 5.5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 6% /4% | 5.5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5.5% / 3% | 5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5.5% /4% | 5% / 4% |

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*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that a percentage of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus (15% if your Endorsement Date was before May 1, 2012 and 20% if your Endorsement Date was after May 1, 2012). All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

*Living Benefits Elected on December 26, 2012 through February 24, 2013.* The IncomeLOCK +6 (Options 1, 2 and 3) and IncomeLOCK +8 endorsements require that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). The IncomeLOCK +6 endorsement with Custom Allocation allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more

than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

We will automatically allocate 15% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was prior to May 1, 2012 or 20% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was after May 1, 2012.

The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

*Asset Rebalancing Program.* 

If you elected IncomeLOCK Plus, you are automatically enrolled in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the investment restrictions noted above. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the 15% or 20% automatic allocation referenced above. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the

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restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing. *See the "IncomeLOCK Plus Features — Asset Rebalancing Program" section of this Appendix for additional details of the automatic rebalancing program.* 

*See the "IncomeLOCK Plus Features — Additional Important Information about IncomeLOCK Plus" section in this Appendix for information about your Living Benefit.* 

**IncomeLOCK Plus Options** 

If you elected IncomeLOCK +8, the Income Credit is eliminated in any Benefit Year in which you take a withdrawal.

*Calculation of the Value of each Component of the Benefit* 

The calculation of the initial Benefit Base for IncomeLOCK +6 with Endorsement Dates prior to December 26, 2012 and for IncomeLOCK +8 with Endorsement Dates prior to February 25, 2013 is set forth below. *If you elected IncomeLOCK Plus on or after December 26, 2012, see the section of this Appendix titled "Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

The calculation of other components of the Living Benefit, including the Income Credit Period, the Anniversary Value, the Income Credit Base, the Income Credit (if you elected IncomeLOCK +6), the MAWA and Excess Withdrawals, is calculated as set forth in the section of this Appendix titled *"Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

First, we determine the initial Benefit Base. If IncomeLOCK Plus was selected prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million without our prior approval. If IncomeLOCK Plus is selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK Plus was selected prior to December 26, 2012, certain Purchase Payments received during the first five years after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base, as follows:

1. 100% of Purchase Payments received in the first contract year; and

2. Purchase Payments received in each of contract years 2-5, capped each year at an amount equal to 200% of the Purchase Payments received in contract year 1.

For example, if you made a $100,000 Purchase Payment in contract year 1, Eligible Purchase Payments will include

additional Purchase Payments of up to $200,000 for contract years 2-5 for a grand total maximum of $900,000 of Eligible Purchase Payments.

Any Purchase Payments made after your Endorsement Date (if IncomeLOCK Plus was selected after Contract issue), or any Purchase Payments made in contract years 2-5 in excess of the annual cap amount as well as all Purchase Payments received after the 5th contract year (if IncomeLOCK Plus is selected at Contract issue) are considered Ineligible Purchase Payments, and are not included in the Benefit Base.

If IncomeLOCK +8 was selected on December 26, 2012 through February 24, 2013, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment and is reduced proportionately for Excess Withdrawals.

If you elect IncomeLOCK +8, the Income Credit is 8% of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. The Income Credit may only be added to the Benefit Base if no withdrawals are taken in a Benefit Year. For example, if you take a withdrawal in Benefit Year 2, you will not be eligible for an Income Credit to be added to your Benefit Base on your second Benefit Anniversary; however, if you do not take a withdrawal in Benefit Year 3, you will be eligible for an Income Credit to be added to your Benefit Base on your third Benefit Anniversary.

*See "IncomeLOCK Plus Options — Cancellation of IncomeLOCK Plus" under the heading "IncomeLOCK Plus" for information on how you may cancel your Living Benefit.* 

*Automatic Termination of IncomeLOCK Plus* 

In addition to the termination events discussed in this Appendix in the section titled *"IncomeLOCK Plus Options — Automatic Termination of IncomeLOCK Plus" under the heading "IncomeLOCK Plus"*, the feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

1. The Contract Owner elects to take a loan from the Contract while the benefit is in effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2. The Contract Owner elects to add Guided Portfolio Services or Guided Portfolio Advantage while the benefit is in effect.

**Surrender of Account Value** 

If you have elected IncomeLOCK +8, no Income Credit will be included in the calculation of the Benefit Base when an RMD is taken.

**Loans** 

If you elected IncomeLOCK Plus prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**<u>IncomeLOCK</u>** 

IncomeLOCK, a Living Benefit, is no longer offered. If you elected IncomeLOCK, the following provisions are applicable to this feature.

In addition to the defined terms in the prospectus, the following defined terms are applicable to the IncomeLOCK Living Benefit:

**Anniversary Value** — the Account Value minus any Ineligible Purchase Payments, as measured on any Benefit Anniversary during the MAV Evaluation Period.

**Maximum Anniversary Value ("MAV") Evaluation Period** — the period beginning on the Endorsement Date and ending on the 10th Benefit Anniversary for IncomeLOCK.

**Minimum Withdrawal Period ("MWP")** — the minimum period over which you may take withdrawals under IncomeLOCK, if withdrawals are not taken under the lifetime withdrawal option.

**Extension Offer** 

The information below is important to you if you purchased a Contract between May 1, 2006 and July 5, 2010 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ends after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it was offered, you will not be permitted to extend the MAV Evaluation Period in the

future. As with all important financial decisions, we recommend that you discuss this with your financial professional.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2006 and July 5, 2010 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.65% | 0.90% |

---

As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

The information below is important to you if you purchased a Contract between July 6, 2010 and April 30, 2012 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ended after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it is offered, you will not be permitted to extend the MAV Evaluation Period in the future. As with all important financial decisions, we recommend that you discuss this with your financial advisor.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between July 6, 2010 and April 30, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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---

| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.70% | 0.95% |

---

As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2012 and July 2, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.90% | 1.15% |

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As a reminder, you also have the option to cancel your IncomeLOCK Living Benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elect to cancel your IncomeLOCK Living Benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

**Fee Table** 

The IncomeLOCK fee is calculated as a percentage of the Benefit Base.<sup>4</sup>

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| |
|:---|
| **Fee Period** |
| All years<br>0.90%<sup>5</sup> <br>|

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The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit. If your Account Value and/or Benefit Base falls to zero before the feature has been terminated, the fee will no longer be deducted.

We will not assess the quarterly fee if you surrender or annuitize your Contract before the end of a quarter.

**IncomeLOCK Features** 

IncomeLOCK provides for an automatic lock-in of the Contract's highest Anniversary Value during the first ten years from the Endorsement Date (or twenty years, if the benefit is extended). You have the flexibility to receive income under the benefit when and how you need it. Each year, you can withdraw up to 5%, 7% or 10% of your Benefit Base (the total guaranteed amount available for withdrawal), depending on when you take your first withdrawal. A guaranteed lifetime income of 5% is also available if you wait until the Benefit Anniversary following your 65th birthday to take your first withdrawal under the Living Benefit. The MAWP is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Before 5th Benefit Year anniversary: 5%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 5th Benefit Year anniversary: 7%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 10th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 20th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after the Benefit Anniversary following your 65th birthday (for lifetime withdrawals): 5%

*Investment Restrictions* 

As long as your IncomeLOCK endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages below. You may combine Variable Investment Options from Groups A, B and C to create your personal investment portfolio. IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010 are not subject to these investment restrictions.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

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<sup>4</sup>

IncomeLOCK is an optional guaranteed minimum withdrawal benefit. The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit.

<sup>5</sup>

For IncomeLOCK endorsements with an Endorsement Date from July 6, 2010 to April 30, 2012, the maximum annual fee is 0.70%, and for IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010, the maximum annual fee is 0.65%. For IncomeLOCK endorsements with an Endorsement Date from May 1, 2012, to July 2, 2012, the maximum annual fee is 0.90%.

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*Additional Important Information about IncomeLOCK* 

**If you take a loan after your IncomeLOCK Endorsement Date, the Living Benefit will automatically be terminated and you will lose any benefits that you may have had with this feature.** Withdrawals under this feature are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may remove each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus.* 

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" section of this prospectus, including the section in this Appendix, and the "Federal Tax Matters" section of this prospectus.* 

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability.

*IncomeLOCK Components* 

The benefit's components and value may vary depending on when the first withdrawal is taken, the age of the Contract Owner at the time of the first withdrawal and the amount that is withdrawn. Your withdrawal activity determines the time period over which you are eligible to receive withdrawals. You will automatically be eligible to receive lifetime withdrawals if you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and your withdrawals do not exceed the maximum annual withdrawal percentage of 5% in any Benefit Year. You may begin taking withdrawals under the benefit immediately following the date the IncomeLOCK endorsement is issued for your Contract. *See "Surrender of Account Value" in this Appendix for more information regarding the effects of withdrawals on the components of IncomeLOCK and a description of the effect of RMDs on the Living Benefit.* 

The table below is a summary of the IncomeLOCK feature and applicable components of the benefit.

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| | | | |
|:---|:---|:---|:---|
| **Withdrawal** | **MAWP**<br> **Prior**<br> **to any**<br> **Extension**<br>| **Initial**<br> **MWP**<br> **Prior to**<br> **any**<br> **Extension**<br>| **MAWP**<br> **if**<br> **Extension**<br> **is Elected**<br>|
| Before 5th Benefit Anniversary | 5% | 20 Years | 5% |
| On or after 5th Benefit Anniversary | 7% | 14.28 Years | 7% |
| On or after 10th Benefit Anniversary | 10% | 10 Years | 7% |
| On or after 20th Benefit Anniversary | 10% | 10 Years | 10% |
| &nbsp;&nbsp;&nbsp; On or after the Benefit Anniversary<br> following Contract owner's<br> 65th birthday.<br>| 5% | Life of the<br> Contract<br> Owner<sup>6</sup> <br>| 5% |

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*Calculation of the value of each component of the Benefit* 

First, we determine the Benefit Base. If IncomeLOCK was selected after Contract issue and prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1 million without our prior approval. If IncomeLOCK was selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK was selected at Contract issue, the amount of Purchase Payments received during the first two years after your Endorsement Date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base. Any Purchase Payments we receive after your Endorsement Date, if IncomeLOCK was selected after Contract issue (or more than two years after your Endorsement Date, if IncomeLOCK is selected at Contract issue) are considered Ineligible Purchase Payments. Eligible Purchase Payments are limited to $1 million without our prior approval.

On each Benefit Anniversary throughout the MAV Evaluation Period, the Benefit Base automatically adjusts upwards if the current Anniversary Value is greater than both the current Benefit Base and any previous year's Anniversary Value. Other than reductions made for withdrawals (including Excess Withdrawals), the Benefit Base will only be adjusted upwards. Note that during the MAV Evaluation Period the Benefit Base will never be lowered if Anniversary Values decrease as a result of investment performance. *For effects of withdrawals on the Benefit Base, see the "Surrender of Account Value" section in this Appendix.* 

Second, we consider the MAV Evaluation Period, which begins on the Endorsement Date and ends on the 10th anniversary of the Endorsement Date. Upon the expiration of the MAV

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<sup>6</sup>

Lifetime withdrawals are available so long as your withdrawals remain within the 5% MAWP indicated above. If withdrawals exceed the 5% MAWP in any Benefit Year, and if the excess is not solely a result of RMDs attributable to this Contract, lifetime withdrawals will no longer be available. Instead, available withdrawals are automatically recalculated with respect to the MWP and MAWP listed in the table above, based on the time of first withdrawal and reduced for withdrawals already taken.

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Evaluation Period, you may contact us to extend the MAV Evaluation Period for an additional period as discussed further below.

Third, we determine the Anniversary Value, which equals your Account Value on any Benefit Anniversary during the MAV Evaluation Period, minus any Ineligible Purchase Payments. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value.

Fourth, we determine the MAWA, which represents the maximum amount that may be withdrawn each Benefit Year without creating an excess withdrawal and is an amount calculated as a percentage of the Benefit Base. The applicable MAWP is determined based on the Benefit Year when you take your first withdrawal, or, for lifetime withdrawals, the age of the owner when the first withdrawal is taken. Applicable percentages are shown in the IncomeLOCK summary table above. If the Benefit Base is increased to the current Anniversary Value, the MAWA is recalculated on that Benefit Anniversary using the applicable MAWP multiplied by the new Benefit Base. If the Benefit Base is increased as a result of Eligible Purchase Payments, the MAWA will be recalculated by multiplying the new Benefit Base by the applicable MAWP.

Lastly, we determine the MWP, which is the minimum period over which you may take withdrawals under this feature. The initial MWP is calculated when withdrawals under the benefit begin, and is re-calculated when the Benefit Base is adjusted to a higher Anniversary Value by dividing the Benefit Base by the MAWA*. See the summary table above for initial MWPs.* The MWPs will be reduced due to Excess Withdrawals. *For effects of withdrawals on the MWP, see the "Surrender of Account Value" section of this prospectus.* 

An Advisory Program is not available with the IncomeLOCK Living Benefit. If you sign up for an Advisory Program, the IncomeLOCK Living Benefit will be terminated.

*Cancellation of IncomeLOCK* 

IncomeLOCK may be cancelled on the 5th Benefit Anniversary, the 10th Benefit Anniversary, or any Benefit Anniversary thereafter. Once IncomeLOCK is cancelled, you will no longer be charged a fee and the guarantees under the benefit are terminated. You may not extend the MAV Evaluation Period and you may not re-elect IncomeLOCK after cancellation.

*Automatic Termination of IncomeLOCK* 

The feature automatically terminates upon the occurrence of one of the following:

1. The MWP has been reduced to zero unless conditions for lifetime withdrawals are met; or

2. Full or partial annuitization of the Contract; or

3. Full surrender of the Contract; or

4. A death benefit is paid; or

5. You elect to take a loan from the Contract; or

6. Your spousal Beneficiary elects to continue the Contract without IncomeLOCK; or

7. You elect to participate in an Advisory Program.

Lifetime withdrawals will not be available in the event of:

1. An ownership change which results in a change of the older Contract Owner;<sup>7</sup> or

2. Withdrawals prior to the Benefit Anniversary following the 65th birthday of the Contract Owner; or

3. Death of the Contract Owner; or

4. A withdrawal in excess of the 5% MAWA.<sup>8</sup>

**Surrender of Account Value** 

The timing and amount of withdrawals will affect the amounts received under IncomeLOCK as set forth below in greater detail.

The amount of any withdrawal for IncomeLOCK which exceeds the MAWA because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an excess withdrawal providing that all of the following conditions are met:

1. No withdrawals in addition to the RMD are taken in that same year;

2. Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

3. If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70½ (or age 72, if applicable), or retire, if applicable; and

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<sup>7</sup>

If a change of ownership occurs from a natural person to a non-natural entity, the original natural older owner must also be the annuitant after the ownership change to prevent termination of lifetime withdrawals. A change of ownership from a non-natural entity to a natural person can only occur if the new natural owner was the original natural older annuitant in order to prevent termination of lifetime withdrawals. Any ownership change is contingent upon prior review and approval by the Company.

<sup>8</sup>

However, if an RMD withdrawal for this Contract exceeds the MAWA, the ability to receive lifetime withdrawals will not be terminated as long as withdrawals of RMDs are determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account. See the "Surrender of Account Value" section in this prospectus.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

4. You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an excess withdrawal. This will result in the cancellation of lifetime withdrawals and further may reduce your remaining MWP.

Withdrawals made under IncomeLOCK are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and conditions of the Contract. The sum of withdrawals in any Benefit Year up to the MAWA will not be assessed a surrender charge.

The MAWA, Benefit Base and MWP may change over time as a result of the timing and amounts of withdrawals.

If you elect to begin withdrawals prior to the Benefit Anniversary following your 65th birthday, you will not be eligible to receive lifetime withdrawals. If you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and wish to receive lifetime withdrawals, the MAWA is calculated as 5% of the Benefit Base. At any time, if the amount of withdrawals exceeds 5% of the Benefit Base in a Benefit Year, you will not be guaranteed to receive lifetime withdrawals. However, you can continue to receive withdrawals over the MWP in amounts up to the MAWA as described above, based on when you made your first withdrawal and reduced by withdrawals already taken.

Total withdrawals in any Benefit Year equal to or less than the MAWA reduce the Benefit Base by the amount of the withdrawal. Withdrawals in excess of the MAWA are considered Excess Withdrawals. We define Excess Withdrawals as either: 1) any withdrawal that causes the total withdrawals in a Benefit Year to exceed the MAWA; or 2) any withdrawal in a Benefit

Year taken after the MAWA has been withdrawn. Excess Withdrawals will reduce the Benefit Base by the greater of: (a) the amount of the Excess Withdrawal; or (b) the relative size of the Excess Withdrawal in relation to the Account Value on the next Benefit Anniversary after the Excess Withdrawal. This means that if Account Value is less than the Benefit Base, withdrawals greater than the MAWA will result in a proportionately greater reduction of the Benefit Base (as described below), which will be more than the amount of the withdrawal itself. This will also reduce your MAWA.

The impact of withdrawals and the effect on each component of IncomeLOCK are further explained below.

**Account Value:** Any withdrawal reduces the Account Value by the amount of the withdrawal.

**Benefit Base:** Withdrawals reduce the Benefit Base as follows:

1. All withdrawals up to the MAWA, and any withdrawals in

excess of the MAWA which are due solely to RMDs (as more specifically described above), will reduce the Benefit Base by the dollar amount of the withdrawal;

2. Excess Withdrawals as described above reduce the Benefit Base to the lesser of (a) or (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is the Benefit Base immediately prior to the Excess Withdrawal minus the amount of the Excess Withdrawal, or;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the Benefit Base immediately prior to the Excess Withdrawal reduced in the same proportion by which the Account Value on the next Benefit Anniversary after the Excess Withdrawal is reduced by the amount of the Excess Withdrawal.

**Maximum Annual Withdrawal Amount (MAWA):** The MAWA will be adjusted as follows:

1. If there are no Excess Withdrawals in a Benefit Year, no further changes are made to the MAWA for the next Benefit Year.

2. If there are Excess Withdrawals in a Benefit Year, the MAWA will be recalculated on the next Benefit Anniversary. The new MAWA will equal the new Benefit Base on that Benefit Anniversary after the Withdrawal divided by the new MWP on that Benefit Anniversary. The new MAWA may be lower than your previously calculated MAWA.

**Minimum Withdrawal Period (MWP):** The MWP is calculated as follows:

1. If there are no Excess Withdrawals during a Benefit Year, the new MWP will be the Benefit Base after the withdrawal divided by the current MAWA.

2. If there are Excess Withdrawals during a Benefit Year, the new MWP will equal the MWP calculated at the end of the prior Benefit Year reduced by one year. In the case of lifetime withdrawals, such an Excess Withdrawal will cancel that period and the new MWP will be determined by dividing the new Benefit Base by the new MAWA.

*If your Account Value is Reduced to Zero* 

If your Account Value is reduced to zero and the Benefit Base is greater than zero, subsequent Purchase Payments will no longer be accepted and a death benefit will not be payable. Further payments under the Contract will be made according to your irrevocable election of one of the following two alternatives:

(1) In a form acceptable to the Company, you may request a lump sum equal to the discounted present value of any remaining guaranteed payments under the benefit; or,

(2) If no lump sum request is received by the Company during the period described in a notice provided to you by the Company, you will receive an annuity according to the annuitization provisions of your Contract. Absent an

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alternative election by you, the annuity will consist of annual payments equal to the MAWA, for a period of years equal to the remaining Benefit Base divided by the MAWA. Such payments will be made quarterly unless otherwise elected, and each individual periodic payment will be equal to the pro-rata portion of the annual MAWA based upon the frequency. Prior to the commencement of such payments, you may also elect to receive an alternative form of annuity, in any other actuarially equivalent form permitted under the Contract, subject to any applicable limitations under the Contract or the Plan.

*Extending the MAV Evaluation Period* 

At the end of the MAV Evaluation Period, as long as the benefit is still in effect and the older owner is age 85 or younger, we guarantee that you will be given the opportunity to extend the MAV Evaluation Period for at least one additional evaluation period of 10 years. If you elect to extend the MAV Evaluation Period, the Benefit Base can continue to be adjusted upward as described above on each anniversary during the new MAV Evaluation Period. Also, if you extend the MAV Evaluation Period, you should note that the components of the feature, such as the fee and MAWP, will change to those in effect at the time you elect to extend. The components and fees may be different from when you initially elected the feature. Additional MAV Evaluation Periods may be offered at our sole discretion.

If you do not contact us to extend the MAV Evaluation Period, the Benefit Base will no longer be adjusted on subsequent Benefit Anniversaries. However, you can continue to take the MAWA in effect at the end of the last MAV Evaluation Period, subject to adjustments for withdrawals. You will continue to pay the fee at the rate that was in effect during the last MAV Evaluation Period and you will not be permitted to extend the MAV Evaluation Period in the future.

**Death Benefits** 

*Spousal Beneficiary* 

Upon the death of the Contract Owner, and subject to any applicable limitations in this Contract, the Code, or under the plan or arrangement under which the Contract is issued, your spousal Beneficiary may elect either (i) to receive a death benefit in accordance with one of the forms permitted under the provisions of this Contract (if the Account Value is greater than zero), (ii) continue this Contract and IncomeLOCK (except as noted below) or (iii) continue the Contract and cancel IncomeLOCK and its accompanying charge. Spousal continuation of the Contract (and IncomeLOCK) is not available if the Contract was set up under one of the following "qualified" plan types: 403(b), 401(k), 401(a) or 457(b). For these Contracts, a spousal Beneficiary, like a non-spousal Beneficiary, cannot continue IncomeLOCK and must take a death benefit under the terms of the Contract. A spousal Beneficiary may

continue IncomeLOCK but only for nonqualified Contracts and IRA plan types (Roth IRA, traditional IRA, SEP, and Simple IRA). Upon election to continue the Contract and IncomeLOCK, your spousal Beneficiary will be subject to the terms and conditions of IncomeLOCK, including the charge. Upon the owner's death, lifetime withdrawals under the IncomeLOCK end and are not available to your spousal Beneficiary. In this event, available withdrawals under IncomeLOCK are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken. The Endorsement Date will not change as the result of spousal continuation.

*Non-Spousal Beneficiary* 

Upon the death of the Contract Owner, if the Account Value is greater than zero, IncomeLOCK will terminate, and your nonspousal Beneficiary(ies) must receive a death benefit in accordance with the otherwise applicable terms of this Contract. If the Account Value is zero upon your death (meaning that no death benefit is payable) but the MWP remaining is greater than zero, a nonspousal beneficiary will receive the remaining value in a lump sum equal to the discounted present value of any remaining guaranteed payments under IncomeLOCK. Upon your death, lifetime withdrawals under the IncomeLOCK end and any available withdrawals under this Endorsement are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken.

**Loans** 

If you elected IncomeLOCK prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**Examples** 

*IncomeLOCK +6 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +6 features.

Example 1:

Assume you elect IncomeLOCK elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your Income Credit on the 1st Contract anniversary is the Income

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Credit Percentage (6%) multiplied by the Income Credit Base ($100,000) which equals $6,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($6,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $106,000 = $5,300). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,300 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $106,000 = $4,240). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,240 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5300 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $125080 | $118000 | $7080 | $6254 |
| 4th | $110000 | $132160 | $118000 | $7080 | $6608 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $159000 | $150000 | $9000 | $7950 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $159,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $7,950 (5% of the $159,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $7,950 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $159,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $159,000 = $6,360). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,360 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($7,950), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $7,950), or $4,980. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $7,950. Your Account Value after this portion of the withdrawal is $101,460 ($109,410 — $7,950), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,980 / $101,460 = 4.91%). The Benefit Base is adjusted to $151,193, or $159,000 x 95.09%. The Income Credit Base is adjusted to $142,635 or $150,000 x 95.09%. Your new Income Credit is 6% of your new Income Credit Base (6% x $142,635), which equals $8,558. Your new MAWA is your Benefit Base multiplied by your MAWP ($151,193 x 5%), which equals $7,560. Therefore, if you do not take additional excess withdrawals, you may take up to $7,560 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $151,193, then your Protected Income Payment is 4% of the Benefit Base (4%x$151,193=$6,048). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,048 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |
| 9th | $103000 | $154000 | $100000 | $6000 | $8470 |
| 10th | $103000 | $160000 | $100000 | $6000 | $8800 |
| 11th | $103000 | $166000 | $100000 | $6000 | $9130 |

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($172,000 = $166,000 + $6,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 9th | $98560 | $151000 | $100000 | $3000 | $8305 |
| 10th | $91010 | $152000 | $100000 | $1000 | $8360 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $148,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $8,140 (5.5% of the $148,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,440 (3% of the $148,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,560 ($103,000 — $4,440). Your Net Income Credit Percentage equals 3% (6% — 3%). Therefore, your new Income Credit is 3% of your Income Credit Base (3% x $100,000), which is $3,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,560) or your Income Credit plus your current Benefit Base ($151,000 = $3,000 + $148,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $7,550 (5% of the $151,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $91,010 ($98,560 — $7,550). Your new Income Credit is 1% (6% — 5%) of your Income Credit Base (1% x $100,000), which is $1,000. Your Benefit Base is equal to the greatest of your Account Value ($91,010) or your Income Credit plus your current Benefit Base ($152,000 = $1,000 + $151,000).

On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $8,360 (5.5% of the $152,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $8,360 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $152,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $152,000 = $6,080). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,080 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK +8 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +8 features.

Example 1:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your

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Income Credit on the 1st Contract anniversary is the Income Credit Percentage (8%) multiplied by the Income Credit Base ($100,000) which equals $8,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($8,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $108,000 = $5,400). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,400 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $108,000 = $4,320). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,320 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5400 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $127440 | $118000 | $9440 | $6372 |
| 4th | $110000 | $136880 | $118000 | $9440 | $6844 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $162000 | $150000 | $12000 | $8100 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $162,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $8,100 (5% of the $162,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $8,100 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $162,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $162,000 = $6,480). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess

Withdrawal, you are guaranteed an income of $6,480 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($8,100), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $8,100), or $4,830. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,100. Your Account Value after this portion of the withdrawal is $101,310 ($109,410 — $8,100), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,830 / $101,310 = 4.77%). The Benefit Base is adjusted to $154,277, or $162,000 x 95.23%. The Income Credit Base is adjusted to $142,849 or $150,000 x 95.23%. Your new Income Credit is 8% of your new Income Credit Base (8% x $142,849), which equals $11,428. Your new MAWA is your Benefit Base multiplied by your MAWP ($154,277 x 5%), which equals $7,714. Therefore, if you do not take additional excess withdrawals, you may take up to $7,714 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $154,277, then your Protected Income Payment is 4% of the Benefit Base (4%x$154,277=$6,171). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,171 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values,

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Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $7480 |
| 7th | $103000 | $156000 | $100000 | $8000 | $7810 |
| 8th | $103000 | $164000 | $100000 | $8000 | $8140 |
| 9th | $103000 | $172000 | $100000 | $8000 | $8470 |
| 10th | $103000 | $180000 | $100000 | $8000 | $8800 |
| 11th | $103000 | $188000 | $100000 | $8000 | $9130 |
| 12th | $103000 | $200000 | $200000 | N/A\* | $11000 |

---

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($196,000 = $188,000 + $8,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $8140 |
| 7th | $103000 | $156000 | $100000 | $8000 | $8580 |
| 8th | $103000 | $164000 | $100000 | $8000 | $9020 |
| 9th | $98080 | $169000 | $100000 | $5000 | $9295 |
| 10th | $89630 | $172000 | $100000 | $3000 | $9460 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $164,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $9,020 (5.5% of the $164,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,920 (3% of the $164,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,080 ($103,000 — $4,920). Your Net Income Credit Percentage equals 5% (8% — 3%). Therefore, your new Income Credit is 5% of your Income Credit Base (5% x $100,000), which is $5,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,080) or your Income Credit plus your current Benefit Base ($169,000 = $5,000 + $164,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $8,450 (5% of the $169,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $89,630 ($98,080 — $7, 8450). Your new Income Credit is 3% (8% — 5%) of your Income Credit Base (3% x $100,000), which is $3,000. Your Benefit Base is equal to the greatest of your Account Value ($89,630) or your Income Credit plus your current Benefit Base ($172,000 = $3,000 + $169,000). On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $9,460 (5.5% of the $172,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $9,460 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $172,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $172,000 = $6,880). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,880 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK Examples* 

The five examples below demonstrate the operation of the IncomeLOCK features.

Example 1:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 1st Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On your 1<sup>st</sup> Benefit Anniversary, your Account Value is $105,000

Your initial Benefit Base is equal to 100% of your Eligible Purchase Payments, or $100,000. On your first Benefit Anniversary, your Benefit Base is equal to the greater of your current Benefit Base ($100,000), or your Account Value ($105,000), which is $105,000. Your Maximum Annual Withdrawal Amount if you were to start taking withdrawals following your first Benefit Anniversary is 5% of the Benefit Base (5% x $105,000 = $5,250). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 20 years ($105,000 divided by $5,250). Therefore, as of your 1st Benefit Anniversary, you may take $105,000 in withdrawals of up to $5,250 annually over a minimum of 20 years. However, if the first withdrawal occurs on or after the Benefit Anniversary following the older owner's 65th birthday and no withdrawal ever exceeds 5% of each year's Benefit Base, then all such withdrawals are guaranteed for the lifetime of the older owner and the Minimum Withdrawal Period does not apply unless lifetime withdrawals are terminated.

Example 2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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On your 5th Benefit Anniversary, your Account Value is $120,000, and your Benefit Base is stepped-up to $120,000. If you were to start taking withdrawals after this anniversary date, your Maximum Annual Withdrawal Amount would be 7% of the Benefit Base (7% x $120,000 = $8,400). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 14.28 years ($120,000 divided by $8,400). Therefore, as of your 5th Benefit Anniversary, you may take $120,000 in withdrawals of up to $8,400 annually over a minimum of 14.28 years.

Example 3 – The impact of withdrawals that are less than or equal to the Maximum Annual Withdrawal Amount

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

---

During your 6th Benefit Anniversary, after your 5th Benefit anniversary, you make a withdrawal of $4,500. Because the withdrawal is less than or equal to your Maximum Annual Withdrawal Amount ($8,400), your Benefit Base ($120,000) is reduced by the total dollar amount of the withdrawal ($4,500) on your next Benefit Anniversary. Your new Benefit Base equals $115,500. Your Maximum Annual Withdrawal Amount remains $8,400. Your new Minimum Withdrawal Period following the withdrawal is equal to the new Benefit Base divided by your current Maximum Annual Withdrawal Amount ($115,500 divided by $8,400). Therefore, following this first withdrawal of $4,500, you may take annual withdrawals of up to $8,400 over the next 13 years, and $6,300 in the 14th (last) Benefit Year.

Example 4 — The impact of withdrawals that are in excess of the maximum annual withdrawal amount:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

---

Assume that during your 6th Benefit Year, after your 5th Benefit Anniversary, you make a withdrawal of $11,688 and your Account Value at your next Benefit Anniversary is $118,000. Because the withdrawal is greater than your Maximum Annual Withdrawal Amount ($8,400), this withdrawal includes an excess withdrawal. In this case, the amount of the excess withdrawal is the total amount of the withdrawal less your

------

Maximum Annual Withdrawal Amount ($11,688 - $8,400), or $3,288. On your next Benefit Anniversary, we first process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,400 from the Account Value and the Benefit Base. Your Account Value after this portion of the withdrawal is $109,600 ($118,000 - $8,400). Your Benefit Base after this portion of your withdrawal is $111,600 ($120,000 - $8,400). Next, we recalculate your Benefit Base by taking the lesser of two calculations. For the first calculation, we deduct the amount of the Excess Withdrawal from the Benefit Base ($111,600 - $3,288 = $108,312). For the second calculation, we reduce the Benefit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal. This is accomplished by taking the Benefit Base on the prior Benefit Anniversary ($120,000) less the portion of your withdrawal that

is not the Excess Withdrawal ($8,400) and multiplying this result ($111,600) by 1 minus the Excess Withdrawal ($3,288) divided by the sum of the Account Value on the Benefit Anniversary ($118,000) and the Excess Withdrawal ($3,288) or ($118,000 + $3,288 = $121,288). This calculation equals $108,576 [$111,600 x (1 - $3,288/$121,288) or $111,600 x 97.29%, which equals $108,576]. Your Benefit Base is $108,312, which is the lesser of these two calculations. The Minimum Withdrawal Period following the excess withdrawal is equal to the Minimum Withdrawal Period at the end of the prior year (14.28 years) reduced by one year (13.28 years). Your new Maximum Annual Withdrawal Amount following the excess withdrawal is your Benefit Base divided by your Minimum Withdrawal Period ($108,312 divided by 13.28), which equals $8,156.02.

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**Appendix C — State Contract Variability** 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Prospectus** | **Provision Availability or Variation** | **Issue State** |
| Free Look | Free Look period is 20 days or 30 days if this is a replacement. The Free Look amount is the return of all <br> purchase payments allocated to the contract.<br>| Alaska |
| Free Look | If you are age 65 or older on the Contract issue date, the Free Look period is 30 days. | Arizona |
| Free Look | If you are age 60 or older on the Contract issue date, the Free Look period is 30 days. If you invest in the <br> Fixed Account, the Free Look amount is calculated as the Purchase Payments paid. If you invest in <br> Variable Investment Options, the Free Look amount is calculated as the greater of (1) Purchase <br> Payments or (2) the value of your Contract plus any fees paid on the day we received your request in <br> good order at the Annuity Service Center.<br>| California |
| Free Look | The Free Look period is 21 days and the amount is calculated as the value of your Contract plus fees and <br> charges on the day we receive your request in good order at the Annuity Service Center.<br>| Florida |
| Free Look | The Free Look period is 20 days. | Idaho<br> North Dakota<br> Rhode Island<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the value of your Contract plus fees and charges on the day we <br> received your request in good order at the Annuity Service Center.<br>| Michigan<br> Minnesota<br> Missouri<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the greater of (1) Purchase Payments including fees and charges <br> or (2) the value of your Contract on the day we receive your request in good order at the Annuity Service <br> Center.<br>| Arkansas |
| Free Look | The Free Look period is 20 days. The Free Look amount is the purchase payments made to the fixed <br> interest options and the accumulation value of the variable options on the day the contract is returned. <br> The Free Look period is 60 days for a replacement.<br>| New York |
| DCA Program | If the DCA Program is elected in Alaska, the Multi-Year Option is not available. | Alaska |
| DCA Program | If the DCA Program is elected in Oregon, the minimum required amount is $5,000. | Oregon |
| Death Benefit | Standard Death Benefit is paid on or after age 70 | New York |
| Death Benefit | For Contracts issued on or after March 5, 2012, the interest guaranteed death benefit is available on <br> individual nonqualified Contracts, Roth IRAs or IRAs (issued outside of an employer-sponsored <br> retirement plan) if death occurs prior to age 70; the standard death benefit is payable if death occurs on <br> or after age 70. For Contracts issued in connection with an employer-sponsored retirement plan, only <br> the standard death benefit is payable.<br>| Florida |
| Surrender Charge | For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to <br> withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds <br> withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to <br> Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued <br> on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lessor <br> of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received <br> during the most recent 60 months; or five percent (5%) of the total amount withdrawn.<br>| Oregon |
| Surrender Charge | For ten years from the date the Certificate was issued the charge will be 5% of either (1) the amount <br> withdrawn, or (2) the amount of any Purchase Payments received during the most recent 60 months <br> prior to the surrender or withdrawal, whichever is less. During the eleventh and twelfth Certificate Years, <br> the charge will be the lesser of the charge as described above or 1% of the amount withdrawn.<br>| Texas |
| Premium Tax | We deduct premium tax charges of 0.50% for Qualified Contracts and 2.35% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| California |
| Premium Tax | We deduct premium tax charges of 2.0% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Maine |
| Premium Tax | We deduct premium tax charges of 3.5% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Nevada |
| Premium Tax | For the first $500,000 in the Contract, we deduct premium tax charges of 1.25% for Non-Qualified <br> Contracts based on total Purchase Payments when you begin the Payout Period. For any amount in <br> excess of $500,000 in the Contract, we deduct front-end premium tax charges of 0.08% for Non-<br> Qualified Contracts based on total Purchase Payments when you begin the Payout Period.<br>| South Dakota |
| Premium Tax | We deduct premium tax charges of 1.00% for Qualified Contracts and 1.00% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| West Virginia |
| Premium Tax | We deduct premium tax charges of 1.00% for Non-Qualified contracts based on total Purchase <br> payments when you begin the Payout Period.<br>| Wyoming |

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**Appendix D — Index Information**

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The Contract is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Contract. The Corporations make no representation or warranty, express or implied to the owners of the Contract or any member of the public regarding the advisability of investing in securities generally or in the Contract particularly, or the ability of the Nasdaq 100 to track general stock market performance. The Corporations' only relationship to the Company ("Licensee") is in the licensing of the Nasdaq® and certain trade names of the Corporations and the use of the Nasdaq 100 which is determined, composed, and calculated by Nasdaq without regard to Licensee or the Contract. Nasdaq has no obligation to take the needs of the Licensee or the owners of the Contract into consideration in determining, composing, or calculating the Nasdaq 100. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Contract to be issued or in the determination or calculation of the equation by which the Contract is to be converted into cash. The Corporations have no liability in connection with the administration, marketing, or trading of the Contract.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE CONTRACT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ 100® OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

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The Statement of Additional Information (SAI) contains additional information about the Contract, the Company, and the Separate Account, including financial statements. The SAI is dated the same date as this prospectus, and the SAI is incorporated by reference into this prospectus. To request a free copy of the SAI, request other information about the Contracts, or make investor inquiries, you may contact us by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mailing: Annuity Service Center, P.O. Box 15648, Amarillo, Texas 79105

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calling: 1-800-448-2542

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Visiting: www.corebridgefinancial.com/rs/prospectus-and-reports/annuities

You may also obtain reports and other information about the Separate Account on the SEC's website at www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier: C000040580 (For contracts purchased after December 29, 2006)

EDGAR Contract Identifier: C000004706 (For contracts purchased on or before December 29, 2006)

<sup>©</sup> 2026 Corebridge Financial, Inc. <br>All Rights Reserved.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **Portfolio Director**<sup>®</sup> <br>|
| **Prospectus** |
| **For Series 1.20 to 13.20** |
| **Units of Interest Under Group and Individual Fixed and Variable Deferred Annuity Contracts** |
| Issued By |
| **The Variable Annuity Life Insurance Company** |
| In Connection With |
| **Variable Annuity Life Insurance Company Separate Account A** |

---

May 1, 2026

The Variable Annuity Life Insurance Company ("VALIC") offers certain series of Portfolio Director comprising group and individual fixed and variable deferred annuity contracts for Participants who receive certificates in certain employer-sponsored qualified retirement plans (the "Contracts"). The Contract is available as an individual retirement account (IRA) or as a non-qualified contract. Non-qualified contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan. The Contracts permit Participants to invest in and receive retirement benefits in one or more Fixed Account Options and/or an array of Variable Investment Options described in this prospectus. If your Contract is part of your employer's retirement program, that program will describe which Variable Investment Options are available to you. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, those Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans will not be available within your Contract. Please see ***Appendix A*** of this prospectus for more information about the Variable Investment Options available within this Contract.

Any guarantees under the Contract, including the death benefit, that exceed the value of your interest in the Variable Annuity Life Insurance Company Separate Account A ("Separate Account") are paid from our General Account, which is the Company's account and includes any amounts you allocate to Fixed Account Options including any interest thereon. Therefore, any amounts or obligations that we may pay under the Contract in excess of your interest in the Separate Account are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

**This prospectus provides information employers and Participants should know before investing in the Contracts and will help each make decisions for selecting various investment options and benefits. Please read and retain this prospectus for future reference. The Contract is a complex investment and involves risks that may cause the value of the Contract Owner's investment to fluctuate including potential loss of principal. When the Contract is surrendered, the value may be higher or lower than the Purchase Payments. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties, as applicable.** 

This prospectus describes 12 different Classes of the Contract. There are differences among these Classes with respect to surrender charges, other fees and charges, restrictions, and features. Each Class is offered to certain group plans or through certain markets and certain Classes are no longer available for new sales. We refer to these Classes as "series" in the Contract and in marketing materials. For more information about the series available within this Contract, see *"General Description of the Contracts - About the Series"* below.

The owner of a group Contract (meaning an employer purchasing the Contract for a retirement plan) or the owner of an individual Contract may cancel a newly purchased Contract within 20 days of receiving it without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract value. You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply. The right of cancellation under this Contract does not apply to Participants in a group plan except in a limited number of states. **VALIC may limit, refuse to accept or cease accepting Purchase Payments in the Contract or in a Fixed Account Option with advance notice. This means that you would no longer be able increase your Contract value, death benefit, or any living benefits through Purchase Payments. See *"Variable Investment Options and Fixed Account Options"* below.** 

**The Securities and Exchange Commission ("SEC") has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov.

------

**Table of Contents** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| **[Glossary of Terms](#xx_1c94b1fc-3f76-47b0-a9f7-8c7bd13f8089_1)** | 3 |
| **[Overview of the Contract](#xx_6c7553e1-21a5-4d37-84cf-68a7281e8ec0_1)** | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_6c7553e1-21a5-4d37-84cf-68a7281e8ec0_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_6c7553e1-21a5-4d37-84cf-68a7281e8ec0_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_6c7553e1-21a5-4d37-84cf-68a7281e8ec0_2) | 6 |
| **[Key Information](#xx_640c5cbc-741d-429e-9de0-8d5ca0207d9e_1)** | 7 |
| **[Fee Table](#xx_e751760c-f325-4721-b298-143f76f2b235_1)** | 12 |
| **[Principal Risks of Investing in the Contract](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_1)** | 17 |
| **[Description of Insurance Company, Registered Separate](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_3)**<br> **[Account, and Investment Options](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_3)**<br>| 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Administration of the Contracts](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC Separate Account A](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Units of Interest](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [American Home Assurance Company](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_4) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distribution of the Contracts](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_4) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options and Fixed Account](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_5)<br> [Options](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_5)<br>| 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_5) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Voting Rights](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Who May Give Voting Instructions](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Determination of Portfolio Company Shares](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_6)<br> [Attributable to Your Account](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_6)<br>| 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [How Portfolio Company Shares Are Voted](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Options](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_7) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Fixed Accounts](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_8) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Program](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_8) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_9) | 25 |
| **[Charges and Adjustments](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_9)** | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Maintenance Charge (Series 1 and 9](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_9)<br> [Contracts Only)](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_9)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_9)<br> [Contracts Only)](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_9)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Plus Excess Transfer Charge (Series 11](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_10)<br> [Contracts Only)](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_10)<br>| 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium Tax Charge](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_11) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account Charges](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_11) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payments from Portfolio Companies/Platform](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_12)<br> [Charges](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_12)<br>| 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Company Expenses](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Living Benefit Fees](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Multi-Year Enhanced Option Adjustment](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program Fees](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Charges](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchange Privilege](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_13) | 29 |
| **[General Description of Contracts](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_13)** | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Contracts](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the General Account](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Series](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers Among the Investment Options](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_14) | 30 |

---

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Contract Features](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_16) | 32 |
| **[Annuity Period](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_17)** | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Fixed Basis](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_17) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Assumed Investment Rate](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_17) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Variable Basis](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Combination of a Fixed and](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_18)<br> [Variable Basis](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_18)<br>| 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Annuitization](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Date](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Options](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Information](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_19) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees on Payout](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_19)<br> [Payments](#xx_851ac92f-01f4-4831-b62c-9eec35edbe50_19)<br>| 35 |
| **[Benefits Available Under the Contract](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_1)** | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_6) | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Death Benefits](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_8) | 43 |
| **[Purchases and Contract Value](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_10)** | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Establishment](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_10) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Your Account Will Be Credited](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_11) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purchase Units](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Fixed Account Options](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Variable Investment Options](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Stopping Purchase Payments](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Principal Underwriter](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Deduction of Advisory Program Fee on](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13)<br> [Purchase Payments](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13)<br>| 48 |
| **[Surrenders and Withdrawals](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13)** | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Surrenders Are Allowed](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Process](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount That May Be Surrendered](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Restrictions](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrenders](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Systematic Withdrawals](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distributions Required by Federal Tax Law](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cancellation](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15)[— The](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15)["Free Look" Period](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15) | 50 |
| **[Loans](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15)** | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Interest Charged for a Loan](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Effects of a Loan on Account Value, Payout](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15)<br> [Payments and the Death Benefit](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_15)<br>| 50 |
| **[Taxes](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_16)** | 51 |
| **[Legal Proceedings](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_24)** | 59 |
| **[Financial Statements](#xx_47f3ce30-7fd0-461e-835f-fa17245b5b4d_24)** | 59 |
| **[Appendix A — Investment Options Available Under the](#xx_4a4cd96d-a31e-4560-9553-f4a9496cefdd_1)**<br> **[Contract](#xx_4a4cd96d-a31e-4560-9553-f4a9496cefdd_1)**<br>| 0-1 |
| **[Appendix](#xx_d2643202-d89c-40cd-ab39-ea0ed48368d0_1)[B — Living Benefits](#xx_d2643202-d89c-40cd-ab39-ea0ed48368d0_1)** | B-1 |
| **[Appendix](#xx_00cfc81d-8f6e-416d-8ac3-2a2720f9bb9e_1)[C — State Contract Variability](#xx_00cfc81d-8f6e-416d-8ac3-2a2720f9bb9e_1)** | C-1 |
| **[Appendix](#xx_809e8ef9-7e01-4869-8df9-e05b527e3249_1)[D — Index Information](#xx_809e8ef9-7e01-4869-8df9-e05b527e3249_1)** | D-1 |

---

------

**Glossary of Terms**

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Unless otherwise specified in this prospectus, the words "we," "us," "our," "Company," and "VALIC" mean The Variable Annuity Life Insurance Company and the words "you" and "your" mean the Participant, or the individual purchasing an individual Contract.

Other specific terms we use in this prospectus are:

**Account Value** — the total sum of your Fixed Account Option(s) and/or Variable Investment Option(s) that have not yet been applied to your annuity payments.

**Advisory Program** — the investment advice service provided by your Investment Adviser. Guided Portfolio Advantage<sup>SM</sup> / Guided Portfolio Services<sup>®</sup> are the financial advice services offered by our affiliate, VFA, a registered investment adviser and an affiliate of VALIC. A separate investment advisory fee and agreement are required for either of these services, if available under an employer's retirement plan. Alternatively, you may have enrolled in an Advisory Program offered by a third-party investment adviser who is not affiliated with us. There may also be an advisory fee required by that adviser. You should ask your investment adviser about any fees charged for investment advice provided. *For new investors, we no longer honor investment adviser transfer requests in connection with Advisory Programs that are offered through third-party Investment Advisers.*

**Annuitant** — the individual (in most cases, you) to whom Payout Payments will be paid.

**Annuity Service Center** — Retirement Services Center, P.O. Box 15648, Amarillo, Texas 79105.

**Assumed Investment Rate** — the rate used to determine your first monthly payout payment per thousand dollars of account value in your Variable Investment Option.

**Beneficiary** — the individual designated to receive the death benefit or Payout Payments upon the death of the Annuitant.

**Business Day** — any weekday that the New York Stock Exchange ("NYSE") is open for trading. Normally, the NYSE is open Monday through Friday, from 9:30 a.m. to 4:00 p.m. Eastern Time. Business Days do not include U.S. holidays or other days when the NYSE is closed.

**Code** — the Internal Revenue Code of 1986, as amended.

**Contract Owner** — the individual or entity to whom the Contract is issued. For a group Contract, the Contract Owner will be the employer purchasing the Contract for a retirement plan.

**Division** — the portion of the Separate Account invested in a particular Portfolio Company. Each Division is a subaccount of VALIC Separate Account A.

**Fixed Account Option** — an account, where available, in which you may invest and is guaranteed to earn at least a minimum rate of interest while invested and an obligation of VALIC's General Account.

**Home Office** — located at 2919 Allen Parkway, Houston, Texas 77019.

**Investment Adviser** — the investment adviser that you have engaged to provide services as part of an Advisory Program. The Investment Adviser may have been engaged through a third party. For new investors, we only support Advisory Programs that are offered through VFA. There are typically advisory fees associated with an Advisory Program. Those fees are separate from the Contract's fees and charges.

VALIC is not an investment adviser to any Advisory Program and does not provide any advice under an Advisory Program.

**Living Benefit** — an optional guaranteed minimum withdrawal benefit designed to help you create a guaranteed income stream for a specified period of time or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if your entire Account Value has been reduced to zero. IncomeLOCK<sup>®</sup> +6, IncomeLOCK<sup>®</sup> +8 (together, "IncomeLOCK Plus") and IncomeLOCK<sup>®</sup> are no longer available for purchase. *See "Appendix B – Living Benefits" for information on these Living Benefits*.

**Market Close** — the close of regular trading on the NYSE, generally 4:00 p.m., Eastern Time, on each day the NYSE is open for business.

**Net Purchase Payments** — the total sum of Purchase Payments minus withdrawals and charges.

**Participant** — the individual (in most cases, you) who makes purchase payments or for whom Purchase Payments are made.

**Participant Year** — a 12-month period starting with the issue date of a Participant's Contract certificate and each anniversary of that date.

**Payout Payments** — annuity payments withdrawn in a steady stream during the Payout Period.

**Payout Period** — the time when you begin to withdraw your money in Payout Payments. It may also be called the "Annuity Period."

**Payout Unit** — a measuring unit used to calculate Payout Payments from your Variable Investment Option. Payout Units measure value, which is calculated just like the Purchase Unit value for each Variable Investment Option except that the initial Payout Unit includes a factor for the Assumed Investment Rate selected. Payout Unit values will vary with the investment experience of the VALIC Separate Account A Division.

**Platform Charge** — a fee we charge in order to make certain underlying Portfolio Companies available as an investment option under the Contract.

**Portfolio Company** — the investment portfolio(s) of a registered open-end management investment company, which serves as

------

the underlying investment vehicle for each Division represented in VALIC Separate Account A. Also referred to as Mutual Fund or Fund.

**Proof of Death** — a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death, a written statement by an attending physician, or any other proof satisfactory to VALIC.

**Purchase Payments** — an amount of money you or your employer pay to VALIC to receive the benefits of a Contract.

**Purchase Period** — the accumulation period or time between your first Purchase Payment and the beginning of your Payout Period (or surrender). It also may be called the "Accumulation Period."

**Purchase Unit** — a unit of interest owned by you in your Variable Investment Option.

**Statement of Additional Information or SAI** — a supplementary document that provides additional information about your Contract. This document is not part of the prospectus and should be read only in conjunction with the prospectus for your Contract.

**Systematic Withdrawals** — payments withdrawn on a regular basis during the Purchase Period.

**VALIC Separate Account A or Separate Account** — a segregated asset account established by VALIC under the Texas Insurance Code. The purpose of the VALIC Separate Account A is to receive and invest your Purchase Payments and Account Value in the Variable Investment Option, if selected.

**Variable Investment Option** — investment options that correspond to Separate Account Divisions available under the Contracts.

------

**Overview of the Contract** 

------

**Purpose of the Contract** 

The Contract is designed to help you invest on a tax-deferred basis, meet long-term financial goals, and plan for your retirement. You can accumulate assets by investing in the Contract's Investment Options and then later convert those accumulated assets into a stream of guaranteed income payments from us. The Contract includes a death benefit that may help financially protect your Beneficiary or Beneficiaries in the event of your death. The optional Living Benefits under the Contract are designed to help you achieve your financial goals and protect against certain financial risks, although the optional Living Benefits are no longer available for purchase.

This Contract may be appropriate for you if you have a long investment time horizon and the Contract's terms and conditions are consistent with your financial goals. It is not intended for people whose liquidity needs require early or frequent withdrawals or for people who intend to frequently trade in the Contract's Investment Options.

The Contract is primarily used in connection with employer-sponsored qualified retirement plans, for which the employer is the Contract owner and participating employees receive certificates related to the Contract, and IRAs. Nonqualified Contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan.

If you are enrolled in an Advisory Program, Advisory Program fees deducted from your Contract may reduce the death benefit, optional living benefit and any annuity benefits, and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Advisory Program** in the "*Benefits Available Under the Contract*" section later in this prospectus.

**Phases of the Contract** 

Like all deferred annuities, the Contract has two phases: (1) a Purchase Period (for savings) and (2) a Payout Period (for income).

**Purchase Period.** During the Purchase Period, you invest your money under the Contract in one or more available Investment Options to help you build assets on a tax-deferred basis. The available Investment Options may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Variable Investment Options.** When you invest in a Variable Investment Option, you are indirectly investing in the Variable Investment Option's underlying Portfolio Company. The Portfolio Companies have different investment objectives, strategies, and risks. You can gain or lose money if you invest in a Variable Investment Option. <br>**Additional information about each Portfolio Company is provided in an appendix to this prospectus. Please see APPENDIX A – INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fixed Account Options.** When you invest in a Fixed Account Option (Fixed Account Plus, Short-Term Fixed Account, Multi-Year Enhanced Option, or a DCA Fixed Account), your principal is guaranteed and earns interest based on a rate set and guaranteed by us. However, if you make an early withdrawal or transfer from a Multi-Year Enhanced Option, the withdrawal or transfer may be subject to a market value adjustment that may reduce the value of your investment.

The amount of money you accumulate during the Purchase Period depends (in part) on the performance of the Investment Options you choose. You may transfer money between Investment Options during the Purchase Period, subject to certain restrictions. Your accumulated assets impact the value of your benefits during the Purchase Period, including the death benefit and any optional Living Benefit, as well as the amount available for withdrawal.

**Payout Period.** When you are ready to receive guaranteed income under the Contract, you can switch to the Payout Period, at which time you will start to receive Payout Payments from us. This is also referred to as "annuitizing" the Contract. You generally decide when to annuitize. You can choose from the available payout options, which may provide income for life, for a guaranteed period of time, or a combination of both. You can also choose to receive Payout Payments on a variable or fixed basis, or a combination of both. If the Payout Payments are made on a fixed basis, the dollar amount of each payment will be the same. If the Payout Payments are made on a variable basis, the dollar amount for the payments will fluctuate.

The death benefit from the Purchase Period does not apply during the Payout Period. Any amount payable upon death during the Payout Period depends on the payout option selected. You cannot take withdrawals of Account Value or surrender the Contract during the Payout Period. If you have an optional Living Benefit at the time of annuitization, you may choose to take Payout Payments in accordance with that Living Benefit. Otherwise, your optional Living Benefit terminates at the beginning of the Payout Period.

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**Contract Features** 

**Contract Series.** This prospectus describes 12 different Classes of the Contract, which we call series. There are differences among the series with respect to surrender charges, other fees and charges, restrictions, and features. Each series is offered to certain group plans or through certain markets. Certain series are no longer available for new sales.

**Retirement Plan Terms and Conditions.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. However, it is also offered as an IRA or a non-qualified contract. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law, which may limit your ability to take certain actions under the Contract.

**Accessing Your Money.** You may withdraw money from the Contract at any time during the Purchase Period. If you make a withdrawal, you may have to pay a surrender charge and/or federal and state income taxes, including a tax penalty if you are younger than age 59½. Withdrawals may negatively impact the value of your benefits under the Contract and may cause an optional Living Benefit to terminate.

**Tax Treatment.** Money can be transferred between Investment Options without tax implications, and earnings (if any) on your investments are generally tax-deferred. Earnings and untaxed contributions are not taxed until they are distributed, which may occur when making a withdrawal, upon receiving a Payout Payment, or upon payment of the death benefit. You do not receive any additional tax benefit under the Contract if you participate in the Contract through a tax-qualified plan or you purchase the Contract through an IRA.

**Death Benefit.** If you die during the Purchase Period, we pay a death benefit to your Beneficiary or Beneficiaries. The Contract has two possible death benefits (interest guaranteed death benefit and standard death benefit), both of which are automatically included in the Contract for no additional fee.

**Optional Living Benefits.** Each optional Living Benefit is a guaranteed minimum withdrawal benefit that is designed to help you create a guaranteed income stream, provided that withdrawals are taken within the parameters of the applicable feature. The optional Living Benefits under the Contract are no longer available for purchase.

**Additional Features and Services.** Additional features and services under the Contract are summarized below. There are no additional charges associated with these features and services unless otherwise noted. Not all features and services may be available under your Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **No Charge Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period without surrender charges, subject to certain requirements related to the duration and amount of the automatic withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Loans.** Tax-free loans may be taken under tax-qualified Contracts (other than IRAs), providing additional access to your money in the Fixed Account Options (excluding Multi-Year Enhanced Options). You will incur interest on an outstanding loan. Loans are subject to restrictions, including a $1,000 minimum loan amount. You may not be able to take a loan under your Contract. We charge up to $75 for a loan application fee for each loan if permissible by your state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Guided Portfolio Advantage**<sup>SM</sup> **("GPA")/Guided Portfolio Services**<sup>®</sup> **("GPS").** GPA and GPS are advisory services offered by VFA to help manage your Account Value. A separate investment advisory fee and agreement is required for these services, if available under an employer's retirement plan. More information about GPA and GPS may be requested by contacting VFA at 866-544-4968 and is also available free of charge on our website at www.corebridgefinancail.com/rs/prospectus-and-reports/vfa-form-adv-materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **American Home Guarantee.** If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Dollar Cost Averaging (DCA) Program.** The DCA program is a systematic transfer of a specified percentage from the DCA Fixed Account to one or more eligible investment options over a specified period of time. Automatic transfers do not count towards the number of free transfers per contract year. DCA may not be available in employer sponsored plans.

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**Key Information**

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**Important Information You Should Consider About the Contract** 

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| | | |
|:---|:---|:---|
|  | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in** <br>**Prospectus**<br>|
| **Are There Charges for** <br> **Early Withdrawals?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. Your Contract may be subject to surrender charges depending on the <br> series of Contract:<br>•**Series 1, 3, 4, 5, 7, 8, 9, and 10**. If you withdraw money under the <br> Contract within five years of making a Purchase Payment, you will be <br> assessed a surrender charge of up to 5%, either as a percentage of the <br> amount withdrawn or as a percentage of Purchase Payments made during <br> the last five years, whichever is less.<br>•**Series 2, 6, 11, and 12**. No surrender charge.<br> For example, if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract and make <br> an early withdrawal, you could pay a surrender charge of up to $5,000 on a <br> $100,000 investment and such surrender charge may be greater if subject to <br> taxes or tax penalities. No surrender charges would apply to a series 2, 6, 11, <br> or 12 Contract.<br> You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option). | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments –** <br> **Surrender Charge**<br>|
| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. In addition to surrender charges (if applicable), you may also be <br> charged for other transactions.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•In certain states, you may be subject to a loan application fee and loan <br> interest if you request a loan under the Contract.<br>•Under a series 11 contract, if you transfer amounts from the Fixed Account <br> Plus option to another Investment Option under the Contract (or another <br> funding entity) in excess of the annual limit, you may be subject to a <br> charge of 5% on the excess amount transferred.<br>•There may also be taxes on Purchase Payments. | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments**<br>|

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|:---|:---|:---|:---|:---|
|  | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Annual Fee** | **Minimum** | **Maximum** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Base Contract<sup>1</sup> <br>(varies by Contract Class)<br>| 0.80% | 0.81% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Portfolio Company fees and <br> expenses<sup>2</sup> <br>| 0.20% | 1.18% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Optional Benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<br>| 0.65%<sup>3</sup> | 3.10%<sup>4</sup> | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Lowest Annual Cost: $1,020** | **Highest Annual Cost: $5,093** | **Highest Annual Cost: $5,093** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Contract Classes and Portfolio <br> Company fees and expenses<br> •No optional benefits<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals<br>| &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |

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|:---|:---|:---|
|  | **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Is There a Risk of Loss** <br> **from Poor** <br> **Performance?**<br>| &nbsp;&nbsp; **Yes**. You can lose money by investing in this Contract, including your <br> principal investment. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **Is this a Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp;&nbsp; •**No**. This Contract is not a short-term investment and is not appropriate for <br> an investor who needs ready access to cash. Amounts withdrawn from <br> series 1, 3, 4, 5, 7, 8, 9, or 10 Contract may result in surrender charges, <br> taxes and tax penalties. Surrender charges could significantly reduce the <br> amount that you receive upon taking a withdrawal. Withdrawals may also <br> reduce or terminate Contract guarantees and may result in taxes and tax <br> penalties.<br>•If you select the Fixed Account Plus option for investment, your ability to <br> transfer amounts from that option is subject to an annual limit. It may take <br> several years to transfer all amounts from the Fixed Account Plus option. <br> Under a series 11 Contract, if you transfer amounts from the Fixed Account <br> Plus option in excess of that annual limit (including withdrawals from the <br> Fixed Account Plus option for the purpose of transferring assets to another <br> funding entity), you may be subject to a charge.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•The benefits of tax deferral, long-term income, and optional Living Benefit <br> guarantees mean the Contract is generally more beneficial to investors with <br> a long investment time horizon. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Associated with the** <br> **Investment Options?**<br>| &nbsp;&nbsp;&nbsp; •An investment in this Contract is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> Investment Options available under the Contract.<br>•Each Variable Investment Option and each Fixed Account Option has its <br> own unique risks.<br>•You should review the Variable Investment Options and Fixed Account <br> Options before making an investment decision. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Related to the** <br> **Insurance Company?**<br>| &nbsp;&nbsp; An investment in the Contract is subject to the risks related to us, VALIC. Any <br> obligations (including under any Fixed Account Options), guarantees, and <br> benefits of the Contract are subject to the claims-paying ability of VALIC. If <br> we experience financial distress, we may not be able to meet our obligations <br> to you. More information about us, including our financial strength ratings, is <br> available upon request by calling 1-800-448-2542 or visiting <br> www.corebridgefinancial.com/rs. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |

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|:---|:---|:---|
|  | **RESTRICTIONS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Restrictions** <br> **on the Investment** <br> **Options?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. There are restrictions that may limit the Variable Investment Options <br> and Fixed Account Options that you may choose as well as limitations on <br> the transfer of the contract value among the Variable Investment Options <br> and Fixed Account Options. Certain Investment Options may not be <br> available under your Contract. Some in-plan deferred compensation plans <br> may restrict investment in Public Funds. If your Contract is a tax-deferred <br> nonqualified annuity that is not part of your employer's retirement plan, <br> Variable Investment Options investing in a Public Fund will not be available <br> to you.<br>•You may transfer funds between the Investment Options, subject to certain <br> restrictions.<br>•Transfers between the Investment Options, as well as certain purchases <br> and redemptions, are subject to policies designed to deter market timing <br> and frequent transfers.<br>•Transfers to and from the Fixed Account Options are subject to special <br> restrictions.<br>•Early withdrawals and transfers from a Multi-Year Enhanced Option may be <br> subject to negative adjustments.<br>•We reserve the right to remove or substitute Portfolio Companies as <br> Investment Options and also reserve the right to stop accepting additional <br> Purchase Payments.<br>•If you are enrolled in an Advisory Program, you are personally prohibited <br> from making transfers among Investment Options in the Contract. During <br> such period, transfer instructions may only be provided by the Investment <br> Adviser. If you terminate the Advisory Program, you may make transfers <br> among the Investment Options subject to certain restrictions. | &nbsp;&nbsp; **Variable Investment** <br> **Options and Fixed** <br> **Account Options**<br>**Transfers Between** <br> **Investment Options**<br>|
| **Are There any** <br> **Restrictions on** <br> **Contract Benefits?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. Additional restrictions and limitations apply under the Contract's <br> optional Living Benefits, which are no longer available for purchase.<br>•If you elected an optional Living Benefit, not all Investment Options may be <br> available and you must invest in accordance with any applicable <br> investment restrictions.<br>•We may modify the investment restrictions for an optional Living Benefit.<br> •Withdrawals that exceed limits specified by the terms of an optional Living <br> Benefit may affect the availability of the benefit by reducing the benefit by <br> an amount greater than the value withdrawn and could terminate the <br> benefit.<br>•If you are participating in an Advisory Program and your Investment <br> Adviser's fees are deducted from your Contract, the deduction of those <br> fees may reduce the optional living benefit, death benefit and any other <br> guaranteed benefit, and may be subject to surrender charges, federal and <br> state income taxes and a 10% federal penalty tax. | &nbsp;&nbsp; **Appendix B – Living** <br> **Benefits**<br>**Advisory Program**<br>**Taxes**<br>|
|  | **TAXES** |  |
| **What Are the Contract's** <br> **Tax Implications?**<br>| &nbsp;&nbsp;&nbsp; •You should consult with a tax professional to determine the tax <br> implications of an investment in and payments received under the <br> Contract.<br>•If you purchase the Contract through a tax-qualified plan or an IRA, there is <br> no additional tax benefit under the Contract.<br>•Withdrawals, including withdrawals to pay your Investment Adviser's fees, <br> may be subject to ordinary income tax and may be subject to tax penalties, <br> including if you take a withdrawal before age 59½. | **Taxes** |

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|  | **CONFLICTS OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How Are Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; Your investment professional may receive compensation for selling this <br> Contract to you in the form of commissions, additional cash compensation, <br> and non-cash compensation. We may share the revenue we earn on this <br> Contract with your investment professional's firm, which may be our affiliate <br> VFA. This conflict of interest may influence your investment professional to <br> recommend this Contract over another investment for which the investment <br> professional is not compensated or compensated less.<br> You may determine to engage an Investment Adviser to provide investment <br> advice to you for the Contract. Your Investment Adviser will charge an <br> Advisory Program Fee. We do not set the Advisory Program Fee. While <br> VALIC may deduct the Advisory Program Fee from your Account Value based <br> on instructions from your Investment Adviser, we do not retain any portion of <br> these fees. If VFA is the Investment Adviser of your Advisory Program, <br> VALIC, as the parent company of VFA will indirectly benefit from VFA's receipt <br> of Advisory Program Fees.<br> In addition, VFA's investment professionals and their managers are eligible <br> for benefits from us or our affiliates, such as non-cash compensation items.<br> As a result of one or more of these conflicts of interest, your investment <br> professional may have a financial incentive to offer or recommend this <br> Contract over another investment. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |
| **Should I Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; Some investment professionals may have a financial incentive to offer you a <br> new contract in place of the one you already own. You should only exchange <br> a contract you already own if you determine, after comparing the features, <br> fees, and risks of both contracts, and any fees or penalties to terminate the <br> existing contract, that it is preferable for you to purchase the new contract <br> rather than continue to own your existing contract. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from an Investment Option or from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. The fees and expenses below do not reflect any advisory fees paid to your Investment Adviser from Contract or other assets. If such charges were reflected, the fees and expenses would be higher.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender, or make withdrawals from an Investment Option or from the Contract, or transfer Contract value between Investment Options. State premium taxes may also be deducted.**

***<u>Transaction Expenses</u>*** 

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| | |
|:---|:---|
| **Deferred Sales Load (or Surrender Charge) (as a percentage of purchase payments or amount surrendered, as** <br> **applicable)**<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1, 3, 4, 5, 7, 8, 9, and 10 | 5.00%<sup>(1)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Series 2, 6, 11, and 12 |  |
| **Maximum Loan Application Fee (per loan)** | $75 |
| **Transfer Fee** |  |
| &nbsp;&nbsp;&nbsp; Series 11 | 5.00%<sup>(2)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Other Series |  |

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**Footnotes to Transaction Expenses** 

(1) The maximum surrender charge is the lesser of 5% of the amount withdrawn or 5% of the Purchase Payments received within the past 60 months. If no Purchase Payments are received within the past 60 months, the surrender charge will be zero. Reductions in and exceptions to the surrender charge are available if certain conditions are met. See *Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* and *Exceptions to Surrender Charge* under **Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only** in the "*Charges and Adjustments*" section.

(2) For all series, transfers from the Fixed Account Plus option are limited to 20% per Participant Year. Transfers in excess of this limitation will not be permitted except under series 11 Contracts. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation. See **Fixed Account Plus Transfer Charge (Series 11 Contracts Only)** in the "*Charges and Adjustments*" section.

**The next tables describe the fees and expenses that you will pay *each year* during the time that you own the Contract (not including Portfolio Company fees and expenses). If you have chosen to purchase an optional benefit, you pay additional charges, as shown below.** 

***<u>Annual Contract Expenses</u>*** 

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|:---|:---|
| **Administrative Expenses**<br> (also referred to as a Maintenance Charge)<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1 and 9 | $15 |
| &nbsp;&nbsp;&nbsp; Series 2, 3, 4, 5, 6, 7, 8, 10, 11, and 12 |  |

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|:---|:---|:---|
| **Annual Fees** | **Current** | **Maximum** |
| **Base Contract Expenses**<sup>(1)</sup> <br>(as a percentage of average account value or Contract value)<br>| 0.80% | 0.81% |

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| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 |

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|:---|:---|:---|
| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.30% | 2.60% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.55% | 3.10% |
| For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |

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| | |
|:---|:---|
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **Maximum Annual Fee Rate**<sup>(4)</sup> |
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **1.15%** |
| **Loan Interest Charges**<br> (as a percentage of average daily value allocated to the Fixed Account Option(s))<br>| **Current Annual Fee Rate** |
| Non-ERISA Contracts<sup>(5)</sup> | 3.00 – 6.00%<sup>(7)</sup> |
| ERISA Contracts<sup>(6)</sup> | 5.50%<sup>(8)</sup> |

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**Footnotes to Annual Contract Expenses**

<sup>(</sup><sup>1</sup><sup>)</sup> Also referred to as "Separate Account Charges." Reductions in the Separate Account Charges may be available for plan types meeting certain criteria. See "Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges." The Base Contract Expenses do not reflect any applicable Platform Charges that may apply. To help you understand the cost of investing in certain Variable Investment Options, Platform Charges are reflected under "Annual Portfolio Company Expenses" in this section and in "Appendix A – Investment Options Available Under the Contract." If Platform Charges were included in this table, current charges for certain (but not all) Variable Investment Options would be as high as 1.05%. For additional information, see **Separate Account Charges** in the "*Charges and Adjustments*" section.

<sup>(</sup><sup>2</sup><sup>)</sup> The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. For a complete description of how the Benefit Base is calculated, see "Appendix B – Living Benefits."

<sup>(</sup><sup>3</sup><sup>)</sup> The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your fee rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the VIX. If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the VIX used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. For the formula to calculate the fee, see "Appendix B – Living Benefits."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| Number of Covered Persons | &nbsp;&nbsp; Minimum Annual<br> Fee Rate<br>| &nbsp;&nbsp; Maximum Annualized Fee Rate<br> Decrease or Increase\*<br>|
| One Covered Person | 0.60% | +/-0.25% |
| Two Covered Persons | 0.60% | +/-0.25% |

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\* The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

<sup>(</sup><sup>4</sup><sup>)</sup> If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%. See "Appendix B – Living Benefits."

<sup>(5)</sup> Contracts issued as part of a retirement plan that is not subject to The Employment Retirement Income Security Act of 1974 (ERISA) including 457 Plans and retirement plans administered by government entities and churches.

<sup>(6)</sup> Contracts issued as part of an employer-sponsored retirement plan subject to ERISA including 401(k) and certain 403(b) defined contribution plans.

<sup>(7)</sup> The Non-ERISA Loan Interest Charges will vary based on the Guaranteed Minimum Interest Rate (GMIR) on your contract. Please refer to your contract for your GMIR.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(8)</sup> The ERISA Loan Interest Charges are variable rates based upon an index prescribed under applicable state insurance rules for policy loans. Loan Interest Charges for an existing loan will not increase, but may decrease, during the term of the loan.

***<u>Annual Portfolio Company Expenses</u>*** 

**The next table shows the minimum and maximum total operating expenses charged by the Portfolio Companies that you may pay periodically during the time that you own the Contract. Expenses shown may change over time and may be higher or lower in the future. These amounts also include applicable Platform Charges if you choose to invest in certain Portfolio Companies. A complete list of Portfolio Companies available under the Contract, including their annual expenses, may be found at the back of this document.** 

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| | | |
|:---|:---|:---|
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | **Minimum**<sup>(1)</sup> | **Maximum**<sup>(2)</sup> |
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | 0.20% | 1.18% |

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**Footnotes to Annual Portfolio Company Expenses** 

<sup>(</sup><sup>1</sup><sup>)</sup> The Portfolio Company with the lowest total annual fund operating expenses are the Vanguard Long-Term Treasury Fund.

<sup>(</sup><sup>2</sup><sup>)</sup> The Portfolio Company with the highest total annual fund operating expenses is the American Beacon Man Large Cap Growth Fund.

***Examples***

**These Examples are intended to help you compare the cost of investing in the Variable Investment Options with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual Contract expenses, and annual Portfolio Company expenses. The Examples do not reflect any advisory fees paid to your Investment Adviser from the Contract or other assets. If these fees and charges were reflected, the costs would be higher. Your actual costs may be higher or lower than the examples below.** 

**The Examples assume all Contract value is allocated to the Variable Investment Options. Your costs could differ from those shown below if you invest in Fixed Account Options.**

**The Examples assume that you invest $100,000 in the Variable Investment Options for the time periods indicated. The Examples also assume that your investment has a 5% return each year and assume the most expensive combination of annual Portfolio Company expenses and optional benefits available for an additional charge. Your actual costs may be higher or lower.**

**The first set of examples assumes the most expensive combination of annual Contract expenses, annual Portfolio Company expenses, and optional benefits available for an additional charge. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9588 | $19750 | $29893 | $50709 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9574 | $19711 | $29831 | $50597 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5078 | $15222 | $25349 | $50597 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5093 | $15263 | $25415 | $50709 |

---

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---

| | | | |
|:---|:---|:---|:---|
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5078 | $15222 | $25349 | $50597 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5078 | $15222 | $25349 | $50597 |

---

**The second set of examples assumes the most expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

---

| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6660 | $11182 | $15756 | $23245 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6646 | $11141 | $15685 | $23111 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2010 | $6216 | $10765 | $23111 |

---

(2) If you annuitize your Contract or you do *not* surrender your Contract:

---

| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2025 | $6260 | $10765 | $23245 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2010 | $6216 | $10685 | $23111 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $2010 | $6216 | $10685 | $23111 |

---

**The third set of examples assumes the least expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

---

| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5714 | $8231 | $10606 | $12433 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |

---

------

---

| | | | |
|:---|:---|:---|:---|
| $5700 | $8187 | $10533 | $12292 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1020 | $3187 | $5533 | $12292 |

---

(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1035 | $3231 | $5606 | $12433 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1020 | $3187 | $5533 | $12292 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1020 | $3187 | $5533 | $12292 |

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**Principal Risks of Investing in the Contract**

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**Market Risk.** Variable annuities involve risks, including possible loss of principal. Your losses could be significant. Amounts that you invest in the Variable Investment Options are subject to the risk of poor investment performance. You assume the investment risk. Generally, if the Variable Investment Options that you select make money, your Account Value goes up, and if they lose money, your Account Value goes down. Each Variable Investment Option's performance depends on the performance of its underlying Portfolio Company. Each Portfolio Company has its own investment risks, and you are exposed to the Portfolio Company's investment risks when you invest in a Variable Investment Option. You are responsible for selecting Variable Investment Options that are appropriate for you based on your own individual circumstances, investment goals, financial situation, and risk tolerance. This Contract is not a deposit or obligation of, or guaranteed or endorsed by, any bank. This Contract is not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency.

**Early Withdrawal Risk.** The Contracts are unsuitable for short-term savings. You should carefully consider the risks associated with withdrawals under the Contract. A withdrawal may reduce the value of your standard and optional benefits such as the death benefit or other guaranteed benefits. If you take a loan from your account, the amount of this loan and interest accrued therein may also reduce the value of these standard and optional benefits while the loan is in the process of being paid off, if the loan is never paid off, if you default on the loan, and the fact that your interest payments can never be recovered and, therefore, indirectly lower the contract value based on the loan you took against it. The reductions may be more than the amount withdrawn. Withdrawals may be subject to significant surrender charges if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract. In addition, if you own a series 11 Contract, excess transfers from the Fixed Account Plus option (including withdrawals from the Fixed Account Plus option for the purpose of transferring assets to another funding entity) may be subject to a charge. If you make a withdrawal prior to age 59½, there may be adverse tax consequences, including a 10% federal tax penalty.

**Contract Benefits Risk.** If you elected an optional benefit, there is a risk that you may not have chosen the benefit or benefits (if any) that are best suited for you based on your present or future needs and circumstances, and the benefits that are more suited for you (if any) may no longer be available. In addition, if you elected an optional benefit and do not use it, or if the contingencies upon which the benefit depend never occur, you will have paid for a benefit that did not provide a financial return. There is also a risk that any financial return of an optional benefit, if any, will ultimately be less than the amount you paid for the benefit. If you elected an optional Living Benefit, you are likely subject to investment restrictions for as long as the benefit remains in effect. Investment restrictions limit the investment options that are available to you and limit your ability to take certain actions under the Contract. The investment restrictions are designed to reduce our risk that we will have to make payments to you from our own assets in connection with certain guarantees. In turn, they may also limit the potential growth of your Account Value and the potential growth of your guaranteed benefits. This may conflict with your personal investment objectives. A withdrawal may reduce the value of your standard and optional benefits. For instance, a withdrawal may reduce the value of the death benefit. In addition, a withdrawal could reduce the value of an optional Living Benefit by an amount greater than the amount withdrawn and could result in termination of the benefit. A total withdrawal (surrender) will result in the termination of your Contract or certificate. An early withdrawal (or transfer) from a Multi-Year Enhanced Option may be subject to a market value adjustment that may reduce the value of your investment. We may defer payment of withdrawals from a Fixed Account Option for up to six months when permitted by law.

**Insurance Company Risk.** All guarantees under the Contract that are paid from our general account are subject to risks relating to our financial strength and claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options. If American Home Assurance Company experiences financial distress, it may not be able to fulfill its financial obligations under the guarantee.

**Contract Changes Risk:** Under the Contract, we reserve the right to remove or substitute Portfolio Companies as Investment Options. We additionally reserve the right to stop accepting additional Purchase Payments and impose investment restrictions or limitations on transfers including closing one or more Fixed Account Options to deposits or transfers and transfers among the Variable Investment Options.

**Short-Term Investment Risk.** This Contract is not designed for short-term investing and may not be appropriate for an investor who needs ready access to cash. The benefits of tax deferral, long-term income, and living benefit protections mean that this Contract is more beneficial to investors with a long-time horizon.

**Group Plan Risk.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law. This may impact your ability to make Purchase Payments, request withdrawals or loans, select payout options, or take other actions under the Contract. If the Contract is being used in a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contract in this prospectus.

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**Dynamic Allocation Fund Risk.** The Dynamic Allocation Fund is a Portfolio Company that is generally available under the Contract and is also an investment option under the optional Living Benefits' investment restrictions. This Portfolio Company has an investment strategy that may serve to reduce the risk of investment losses that could require us to use our own assets to make payments in connection with certain guarantees, like living and death benefits. In addition, this Portfolio Company may enable us to more efficiently manage our financial risks associated with guarantees, due in part to an asset management formula developed by affiliated insurance companies and utilized by the Portfolio Company's investment advisers, as described in the Portfolio Company's prospectus. This formula may change over time based on proposals from the Company. Any changes to the formula proposed by the Company will be implemented only if they are approved by the Portfolio Company's investment adviser and board of directors, including a majority of the independent directors.

**Public Fund Availability Risk.** Some in-plan deferred compensation plans may restrict investment in "Public Funds", which are Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Public Funds will not be available within your Contract. (Public Funds are identified in Appendix A.)

**Loan Risk.** If you take a loan under the Contract, interest will accrue on any outstanding loan amounts until they are repaid and, depending on the state, you may be required to pay a loan application fee to us. If you elected an optional living benefit and are permitted to take a loan, taking a loan may automatically terminate the benefit.

**Minimum Account Value Risk.** If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Business Disruption.** Our business is vulnerable to disruptions from natural and man-made disasters and catastrophes, such as but not limited to hurricanes, windstorms, flooding, earthquakes, wildfires, solar storms, war or other military action, acts of terrorism, explosions and fires, pandemics (such as COVID-19) and other highly contagious diseases, mass torts, failure of telecommunications or other critical infrastructure and other catastrophes. A natural or man-made disaster or catastrophe may negatively affect the computer and other systems on which we rely, including see outages or other unavailability, may interfere with our ability to receive, pick up and process mail, to calculate Purchase Unit values, process other contract-related transactions, or to otherwise provide our services, or may have other possible negative impacts. While we have developed and put in place what we believe to be appropriate business continuity and disaster recovery plans and procedures to mitigate operational risks and potential losses related to business disruptions resulting from natural and man-made disasters and catastrophes, there can be no assurance that we, our agents, the underlying Portfolio Company or our service providers will be able to successfully avoid negative impacts resulting from such disasters and catastrophes.

**Cybersecurity Risk.** We rely heavily on interconnected computer systems and digital data to conduct our variable product business activities. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our business partners and service providers, our business is vulnerable to physical disruptions and utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), cyber-attacks, and user errors or other disruptions that may compromise the confidentiality, integrity, or availability of such systems and data. These risks include, among other things, the theft, misuse, corruption, disclosure and destruction of sensitive business data, including personal information, maintained on our or our business partners' or service providers' systems, interference with our websites (such as via denial of service attacks), and other operational disruptions, and unauthorized release of confidential customer information. Such systems failures, cyber-attacks or other disruptions affecting us, any third-party administrator, the underlying Portfolio Companies, intermediaries and other affiliated or third-party service providers, as well as our distribution partners, may adversely affect us and your Contract Value. For instance, systems failures and cyber-attacks may interfere with our processing of contract transactions, including the processing of orders from our website, our distribution partners, or with the underlying Portfolio Companies, impact our ability to calculate Purchase Unit values, cause the release and possible destruction of confidential customer or business information, including personal information, impede order processing, or subject us and/or our service providers, distribution partners and other intermediaries to regulatory fines and enforcement action, litigation risks and financial losses and/or cause reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying Portfolio Companies invest, which may cause the affected underlying Portfolio Companies to lose value. There may be an increased risk of cyber-attacks during periods of geo-political or military conflict. Further, the widespread development, implementation, and use of AI, machine learning, data analytics and similar tools that collect, aggregate and analyze data or inputs (collectively, "AI Tools") may increase our exposure to, or exacerbate the risks of cyber-attacks or other security incidents, particularly where such technologies are exploited by third parties to attempt to breach our or our business partners' and service providers' systems. Despite our implementation of

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policies and procedures, which we believe to be reasonable, that address physical, administrative and technical safeguards and controls and other preventative actions to protect our systems and sensitive business and customer information, including personal information, and reduce the risk of cyber-incidents, there can be no assurance that we or our and distribution partners, the underlying Portfolio Companies or our business partners and service providers will avoid cyber-attacks or information security breaches in the future that may affect your contract and/or personal information.

**Description of Insurance Company, Registered Separate Account, and Investment Options**

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**About VALIC** 

We were originally organized on December 21, 1955 as The Variable Annuity Life Insurance Company of America Incorporated, located in Washington, D.C. We reorganized in the State of Texas on August 20, 1968, as Variable Annuity Life Insurance Company of Texas. On November 5, 1968, the name was changed to The Variable Annuity Life Insurance Company. Our main business is issuing and offering fixed and variable retirement annuity contracts, like Portfolio Director. Our principal offices are located at 2919 Allen Parkway, Houston, Texas 77019. We have regional offices throughout the United States. VALIC is an indirect, wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge"). VALIC is obligated to pay full amounts promised to investors under the Contracts, subject to its financial strength and claims-paying ability.

**Administration of the Contracts**

VALIC is responsible for the administrative servicing of your Contract. Please contact the Annuity Service Center at 1-800-448-2542, if you have any comments, questions, or service requests.

**About VALIC Separate Account A** 

When you direct money to the Contract's Variable Investment Options, you will be sending that money through VALIC Separate Account A. You do not invest directly in the Portfolio Companies made available in the Contract. VALIC Separate Account A invests in the Portfolio Companies on behalf of your account. VALIC acts as custodian for the Portfolio Company shares owned through the Separate Account. VALIC Separate Account A is made up of what we call "Divisions." Each Division invests in a different Portfolio Company made available through the Contract. The earnings (or losses) of each Division are credited to (or charged against) the assets of that Division, and do not affect the performance of the other Divisions of VALIC Separate Account A.

VALIC established Separate Account A on July 25, 1979 under Texas insurance law. VALIC Separate Account A is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended, (the "1940 Act"). Units of interest in VALIC Separate Account A are registered as securities under the Securities Act of 1933, as amended (the "1933 Act").

VALIC Separate Account A is administered and accounted for as part of the Company's business operations. However, the income, capital gains or capital losses, whether or not realized, of each Division of VALIC Separate Account A are credited to or charged against the assets held in that Division without regard to the income, capital gains or capital losses of any other Division or arising out of any other business the Company may conduct. In accordance with the terms of the Contract, VALIC Separate Account A may not be used to pay any liabilities of the insurance company other than those arising from the Contracts. Income, gains, and losses credited to, or charged against, VALIC Separate Account A reflects its own investment experience and not the investment experience of VALIC's other assets. As stated in the Contract, the Texas Insurance Code requires that the assets of VALIC Separate Account A attributable to the Contract be held exclusively for the benefit of the Contract owner, Participants, annuitants, and beneficiaries of the Contracts.

We are obligated to pay all amounts promised to investors under the Contracts. The commitments under the Contracts are the sole obligation of VALIC and the assets in VALIC Separate Account A may not be used to pay any liabilities of VALIC other than those arising from the Contracts. All amounts paid from our General Account, including our obligations under any Fixed Account Option and any death benefits, Payout Payments, or Living Benefit guarantees in excess of your amounts in the Separate Account are subject to the Company's financial strength, claims-paying ability, and long-term ability to make payments.

**Units of Interest** 

Your investment in a Division of VALIC Separate Account A is represented by units of interest issued by VALIC Separate Account A. On a daily basis, the units of interest issued by VALIC Separate Account A are revalued to reflect that day's performance of the underlying Portfolio Company minus any applicable fees and charges to VALIC Separate Account A.

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**American Home Assurance Company** 

The information below is applicable to you only if your Contract or Certificate was issued December 29, 2006 or earlier.

Insurance obligations under Contracts issued by the Company are guaranteed by American Home Assurance Company ("American Home"), an indirect wholly-owned subsidiary of American International Group, Inc. Insurance obligations include, without limitation, Contract value invested in any available fixed account option, death benefits and income options. The guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options available under the Contracts. The guarantee provides that the Company's Contract owners can enforce the guarantee directly.

American Home provided notice of termination of the General Guarantee Agreement dated March 3, 2003 (the "Guarantee") with respect to Contracts issued by VALIC. The Guarantee terminated on December 29, 2006 at 4:00 p.m. Eastern time ("Point of Termination"). Pursuant to its terms, the Guarantee will not apply to any group or individual Contract or Certificate issued after the Point of Termination. The Guarantee will remain in effect for any Contract or Certificate issued prior to the Point of Termination until all insurance obligations under such Contracts or Certificates are satisfied in full. As described in the prospectus, VALIC will continue to remain obligated under all of its Contracts and Certificates, regardless of issue date, in accordance with the terms of those Contracts and Certificates.

American Home is a stock property-casualty insurance company incorporated under the laws of the State of New York on February 7, 1899. American Home's principal executive office and home office address is 1271 Avenue of the Americas, FL37, New York, NY, 10020-1304. American Home is licensed in all 50 states of the United States and the District of Columbia, as well as certain foreign jurisdictions, and engages in a broad range of insurance and reinsurance activities. American Home is an indirect wholly owned subsidiary of American International Group, Inc.

**Distribution of the Contracts** 

The principal underwriter and distributor for VALIC Separate Account A is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

*VFA* 

The Contracts are sold by licensed insurance agents who are registered representatives of broker-dealers, which are members of the Financial Industry Regulatory Authority ("FINRA"), unless such broker-dealers are exempt from the broker-dealer registration requirements of the Securities Exchange Act of 1934, as amended. VALIC receives payments from some Portfolio Companies for exhibitor booths at meetings and to assist with the education and training of VALIC, VFA and their affiliates, employees, and investment professionals.

VFA investment professionals who sell the Contracts will be compensated for such sales by commissions ranging up to 6% of each first-year Purchase Payment. The investment professionals will receive commissions of up to 0.85% for level Purchase Payments in subsequent years and up to 5% on increases in the amount of Purchase Payments in the year of the increase. During the first two years of employment, investment professionals may also receive developmental commissions of up to 4% for each first-year Purchase Payment and for increases in the amount of Purchase Payments. Investment professionals can also receive an Enrollment Payment where the amount of the payment varies based on the number of total enrollments written by the investment professional and on the expected annualized Purchase Payments of the Participant.

For more information about how your investment professional may be compensated, please contact your investment professional.

*Portfolio Companies* 

The Portfolio Companies or their registered investment advisers or their affiliates ("Portfolio Company Entities") may make payments to VALIC, typically for administrative, recordkeeping, and shareholder services that VALIC provides for the underlying Portfolio Company. See also **Payments from Portfolio Companies/Platform Charges** in this prospectus.

In addition, VALIC and/or its affiliates may receive payments from Portfolio Company Entities that voluntarily choose to participate in, and that are designed to defray the costs associated with, conferences, seminars, training, or other educational events sponsored by VALIC and its affiliates where such funds and services are discussed and that are attended by VFA investment professionals, VALIC employees, employees of our affiliates and/or plan sponsors and plan consultants. Moreover, these Portfolio Company Entities may also make payments to VALIC and/or its affiliates for exhibitor booths at meetings and to assist with education and training of VFA financial professionals.

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*Consultants* 

VALIC and its affiliates sometimes retain and compensate business consultants to assist VALIC in marketing group employee benefit services to employers. These business consultants are not associated persons of VFA or affiliated with VALIC or its affiliates and are not authorized to sell or market securities or insurance products to employers or to group plan participants. The fees paid to such business consultants are part of VALIC's general overhead and are not charged back to employers, group employee benefit plans or plan participants.

*Sponsorships* 

VALIC and its affiliates maintain ongoing relationships with various organizations and associations, including trade associations, unions, and other industry groups, to which VALIC and/or its affiliates makes sponsorship payments for marketing and advertising opportunities. These marketing and advertising opportunities may take the form of participation in leadership and recognition events, educational conferences, speaking opportunities, booth space and signage at membership conferences and similar events, and membership dinners. VALIC and its affiliates may also receive payments from unaffiliated third-parties in exchange for enhanced engagement with and exposure to VALIC and VFA management and their investment professionals throughout the year. Such payments are typically flat fees (either one-time or recurring) and are not based on transactions or sales.

VALIC and its affiliates also have ongoing relationships with retirement plan sponsors. As part of these ongoing relationships, VALIC and its affiliates sponsor events and seminars for plan participants that provide education for plan participants, as well as marketing and advertising opportunities for VALIC and its affiliates. Such sponsorships may include providing occasional meals, entertainment, or nominal gifts to the extent permitted by FINRA rules.

These various sponsorships may be considered endorsements of the products of VALIC or its affiliates, may result in additional annuity or other product sales to plan participants, and provide an incentive to these organizations, associations, and plan sponsors to promote the products and services of VALIC and its affiliates.

**Variable Investment Options and Fixed Account Options** 

The Contracts offer a choice from among several Variable Investment Options and five Fixed Account Options. The Variable Investment Options and Fixed Account Options may be referred to together as Investment Options. Depending on the selection made by your employer's plan, if applicable, there may be limitations on which and how many Investment Options Participants may invest in at any one time. All options listed (except where noted) are available, generally, for 401(a), 403(a), 401(k), and 403(b) plans and 457(b) eligible deferred compensation plans, as well as individual retirement annuities.

This prospectus describes a Contract in which units of interest in VALIC's Separate Account A are offered. Portfolio Director will allow you to accumulate retirement dollars in Fixed Account Options and/or Variable Investment Options. Variable Investment Options are referred to as Divisions (subaccounts) in VALIC Separate Account A. Each Separate Account Division represents our investment in a different Portfolio Company. This prospectus describes only the variable aspects of Portfolio Director except where the Fixed Account Options are specifically mentioned.

**Variable Investment Options** 

The Contracts enable you to participate in Divisions that represent the Variable Investment Options. These Divisions comprise all of the Variable Investment Options that are made available through VALIC Separate Account A. According to your retirement program, you may not be able to invest in all of the Variable Investment Options described in this prospectus. You

may be subject to further limits on how many options you may be invested in at any one time or how many of the options you are invested in may be involved in certain transactions at any one time. We reserve the right to limit the Investment Options available under your Contract if you elected a Living Benefit, as described in Appendix B.

Several of the Variable Investment Options offered through VALIC's Separate Account A are also available to the general public (retail investors) outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. These funds are listed in Appendix A as "Public Funds." If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, or if your Contract is issued under a deferred compensation plan (other than an eligible 457(b) plan), those Variable Investment Options that are invested in Public Funds will not be available within your Contract, due to Code requirements concerning investor control. Therefore, the nonqualified annuities listed above and ineligible deferred compensation 457(f) plans and private sector top-hat plans (generally, an unfunded deferred compensation plan maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly-compensated employees) may invest only in VALIC Company I Funds.

Contract value allocated to a Variable Investment Option will vary based on the investment experience of the corresponding

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Portfolio Company in which the Variable Investment Option invests. There is a risk of loss of the entire amount invested.

**Information regarding each Portfolio Company, including (i) its name, (ii) its type (e.g. money market fund, bond fund, balanced fund, etc.), (iii) its investment adviser and any sub-investment adviser, (iv) current expenses, and (v) performance is available in an appendix to this prospectus. See "Appendix A – Investment Options Available Under the Contract."** 

**Each Portfolio Company has issued a prospectus that contains more detailed information about the Portfolio Company. Read these prospectuses carefully before investing. Paper or electronic copies of the Portfolio Company prospectuses may be obtained by calling 1-800-448-2542, or visiting www.corebridgefinancial.com/rs/prospectus-and-reports/annuities.** 

Refer to your employer's retirement program documents for a list of the employer-selected Variable Investment Options and any limitations on the number of Variable Investment Options you may choose. All Portfolio Companies may not be available for all plans or individual or group contracts.

Shares of certain of the Portfolio Companies are also sold to separate accounts of other insurance companies that may or may not be affiliated with us. This is known as "shared funding." These Portfolio Companies may also be sold to separate accounts that act as the underlying investments for both variable annuity contracts and variable life insurance policies. This is known as "mixed funding." There are certain risks associated with mixed and shared funding, such as conflicts of interest due to differences in tax treatment and other considerations, including the interests of different pools of investors. These risks may be discussed in each Portfolio Company's prospectus.

Investors seeking to achieve long term retirement security generally are encouraged to give careful consideration to the benefits of a well-balanced and diversified investment portfolio. As just one example, investing one's total retirement savings in a limited number of Investment Options may cause that individual's retirement savings to not be adequately diversified. Spreading those assets among different types of investments can help an investor achieve a favorable rate of return in changing market or economic conditions that may cause one category of assets or particular security to perform very well while causing another category of assets or security to perform poorly. Of course, diversification is not a guarantee of gains or against losses. However, it can be an effective strategy to help manage investment risk.

**Voting Rights**

As discussed in the **About VALIC Separate Account A** section of this prospectus, VALIC Separate Account A holds, on your behalf, shares of the Portfolio Companies that comprise the Variable Investment Options. From time to time, the Portfolio

Companies may be required to hold a shareholder meeting to obtain approval from their shareholders for certain matters.

**Who May Give Voting Instructions** 

During the Purchase Period, subject to any contrary provisions in the plan, the Contract Owner, Participant, or Beneficiary will have the right to give voting instructions to VALIC Separate Account A for the shareholder meetings, except as noted below. Proxy materials and a form on which voting instructions may be given before the shareholder meeting is held will be mailed in advance of any shareholder meeting. Please vote each card received.

Participants in a nonqualified unfunded deferred compensation plan will not have the right to give voting instructions.

**Determination of Portfolio Company Shares Attributable to Your Account** 

*During the Purchase Period* 

The number of Portfolio Company shares attributable to your account will be determined on the basis of the Purchase Units credited to your account on the record date set for the Portfolio Company shareholder meeting.

*During the Payout Period or after a Death Benefit Has Been Paid* 

The number of Portfolio Company shares attributable to your account will be based on the liability for future variable annuity payments to your payees on the record date set for the Portfolio Company shareholder meeting.

**How Portfolio Company Shares Are Voted** 

VALIC Separate Account A will vote all of the shares of the Portfolio Company it holds based on, and in the same proportion as, the instructions given by all Participants invested in that Portfolio Company entitled to give instructions at that shareholder meeting. VALIC Separate Account A will vote the shares of the Portfolio Companies it holds for which it receives no voting instruction in the same proportion as the shares for which voting instructions have been received. One effect of proportional voting is that a small number of Contract Owners may determine the outcome of a vote. In the future, we may decide how to vote the shares of VALIC Separate Account A in a different manner if permitted at that time under federal securities law.

In the event that shares of a Portfolio Company are owned by VALIC or an affiliated insurance company for their own benefit, such shares will be voted proportionally based on instructions received from Contract Owners.

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**Fixed Account Options** 

Portfolio Director Contracts feature up to five guaranteed Fixed Account Options that are each part of the General Account assets of the Company. These assets are invested in accordance with applicable state regulations to provide fixed-rate earnings and guarantee safety of principal. The guarantees under the Fixed Account Options are subject to our financial strength,

claims-paying ability, and our long-term ability to make such payments, and not the Separate Account. A tax-deferred nonqualified annuity may include the guaranteed Fixed Account Options. The Fixed Account Options are not subject to regulation under the 1940 Act and are not required to be registered under the 1933 Act. <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Fixed Account Options** | **Description** |
| Fixed Account Plus | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides for a fixed rate of interest with a long-term time horizon. It is credited <br> with interest at rates set by VALIC. The account is guaranteed to earn at least a minimum rate of interest as <br> shown in your Contract. Your money may be credited with a different rate of interest depending on the time <br> period in which it is accumulated. Purchase Payments allocated to Fixed Account Plus will receive a current <br> rate of interest. There are limitations on transfers out of this option. If you transfer assets from Fixed Account <br> Plus to another investment option, any assets transferred back into Fixed Account Plus within 90 days will <br> receive a different rate of interest than that paid for new Purchase Payments. Please refer to the **Fixed** <br> **Account Plus Excess Transfer Charge (Series 11 Only)** section in "*Charges and Adjustments*" for information <br> about certain transfer limitations for Fixed Account Plus.<br>|
| Short-Term Fixed Account | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides fixed-return investment growth for the short-term. It is credited with <br> interest at rates set by VALIC, which may be lower than the rates credited to Fixed Account Plus, above. The <br> account is guaranteed to earn at least a minimum rate of interest as shown in your Contract. Your money may <br> be credited with a different rate of interest depending on the time period in which it is accumulated.<br>|
| &nbsp;&nbsp;&nbsp; Multi-Year Enhanced Option <br> ("Multi-Year Option")<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a long-term Investment Option, providing a guaranteed interest rate for a <br> guaranteed period (three, five, seven, or ten years) ("Multi-Year Option Term"). You may establish one or <br> more new Multi-Year Option guarantee periods (Multi-Year Options Bands) with a minimum amount, as <br> described in the Contract, per Multi-Year Option Band in states in which the Multi-Year Option has been <br> approved. The Company may change the minimum from time to time. Each Multi-Year Option Band will be <br> guaranteed to receive a stated rate of interest through the end of the selected Multi-Year Option term. We <br> guarantee your Multi-Year Option will earn at least the lowest minimum interest rate applicable to any of the <br> fixed interest options in the Contract. See your Contract for minimum investment amounts and other <br> requirements and restrictions. This option may not be available in all employee plans or states. All Multi-Year <br> Option Terms may not be available. See your investment professional for information on the Multi-Year <br> Option Terms that are currently offered.<br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6- month & <br> DCA Fixed Account 12-month<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a short-term Investment Option providing a guaranteed interest rate for money <br> invested in the option but prior to being systematically transferred to the designated Variable Investment <br> Options. It is credited with interest rates set by VALIC. The account is guaranteed to earn at least a minimum <br> rate of interest as shown in your Contract. Purchase Payments allocated to the DCA Fixed Account Option will <br> receive a current rate of interest. Purchase Payments may be credited with a different rate of interest <br> depending on the time period in which it is received by VALIC. This option may not be available in all states or <br> in employer sponsored plans.<br>|

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Generally, for most series of Portfolio Director, a current interest rate is declared at the beginning of each calendar month and is applicable to new contributions received during that month. Interest is credited to the account daily and compounded at an annual rate. You may obtain current interest rates by calling the Annuity Service Center or speaking with your investment professional. VALIC guarantees that all contributions received during a calendar month will receive that month's current interest rate for the remainder of the calendar year. Our practice, though not guaranteed, is to continue crediting interest at that same rate for such purchase payments for one additional calendar year. Thereafter, the amounts may be consolidated with contributions made during other periods and will be credited

with interest at a rate which the Company declares annually on January 1 and guarantees for the remainder of the calendar year. The interest rates and periods may differ between the series of Portfolio Director. Some series of Portfolio Director may offer a higher interest rate on Fixed Account Plus. This interest crediting policy is subject to change, but any changes made will not reduce the current rate below your contractually guaranteed minimum or reduce monies already credited to the account.

Your fixed account interest crediting rates are guaranteed for amounts allocated to each fixed account for up to 1 year. Thereafter, for Fixed Account Options, VALIC will declare annual fixed account crediting rates each Contract year, and this rate will never be lower than the minimum guaranteed rate as

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referenced in your Contract. Factors that influence the declared fixed account renewal rate include, but are not limited to, the level of US treasury rates, credit spreads on corporate bonds and other fixed income instruments, company asset-liability matching strategies, the length of the Contract withdrawal charge period and the number of years since your annuity Contract was issued.

*Dollar Cost Averaging Fixed Accounts* 

You may invest initial Purchase Payments in the Dollar Cost Averaging ("DCA") Fixed Accounts, if available. You may also invest a series of Subsequent Purchase Payments received over the first 30 days from the date of the initial Purchase Payment. Transfers and exchanges from any affiliated VALIC product are not permitted. See "Dollar Cost Averaging Program" below for more information.

The minimum Purchase Payment amounts for the DCA Fixed Account Options are as follows:

**DCA Fixed Account Minimum Purchase Payment** 

6-Month = $25,000 \* <br>12-Month = $25,000 \*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You may not make a transfer from a Variable Investment Option or available Fixed Account Option into a DCA Fixed Account Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless otherwise directed by you, any Purchase Payment less than the above minimum amounts will automatically be allocated to an available Variable Investment Option or Fixed Account Option according to your current allocation instructions on file.

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\*

The DCA Fixed Account Minimum Purchase Payment for Contracts issued in Oregon is $5,000.

*DCA Interest Rate Crediting*. DCA Fixed Accounts credit a fixed rate of interest and can only be elected to facilitate a DCA Program. Interest is credited to amounts allocated to the DCA Fixed Accounts while your money is transferred to available Investment Options over certain specified time frames. The interest rates applicable to the DCA Fixed Accounts may differ from those applicable to any other Fixed Account Option but will never be less than the minimum guaranteed interest rate specified in your Contract. The minimum guaranteed interest rate can vary but is never lower than 1%. However, when using a DCA Fixed Account, the annual interest rate is paid on a declining balance as you systematically transfer your money to available Investment Options. Therefore, the actual effective yield will be less than the stated annual crediting rate. We reserve the right to change the availability of DCA Fixed Accounts offered, unless state law requires us to do otherwise.

**Dollar Cost Averaging Program** 

Under the DCA Program, systematic transfers of the value will be processed from the applicable DCA Fixed Account ("source account") to any available Variable Investment Options ("target account"). For example, if you select the DCA Fixed Account 6-month Option, 1/6 of your Account Value will be transferred the first month, 1/5 of the Account Value the 2nd month, 1/4 of the Account Value the 3rd month, 1/3 of the Account Value the 4th month, 1/2 the Account Value the 5th month and the balance of the option the 6th month. At the end of the selected period, there should be no money left in the DCA Fixed Account Option.

The DCA Program allows you to invest gradually in available Variable Investment Options at no additional cost. The DCA Program is designed to lessen the impact of market fluctuations on your investment. However, the DCA Program can neither guarantee a profit nor protect your investment against a loss. When you elect the DCA Program, you are continuously investing in securities fluctuating at different price levels. You should consider your risk tolerance for investing through periods of fluctuating price levels.

*Example of DCA Program* 

Assume that you deposit the minimum of $25,000 into the DCA Fixed Account – 6 month Option. The DCA program will systematically transfer the deposits and interest from the DCA Fixed Account to your designated Variable Investment Options. Assume a DCA Fixed Account earns a minimum interest credited rate of 1%, and these amounts are transferred to a single Variable Investment Option over the six months, and that this Variable Investment Option has the Unit Values shown below. For this example, the DCA Program purchases would have the following values:

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| | | |
|:---|:---|:---|
| **Month** | **Unit Value** | **Units Purchased** |
| 1 | $7.50 | 556 |
| 2 | $5.00 | 835 |
| 3 | $10.00 | 418 |
| 4 | $7.50 | 557 |
| 5 | $5.00 | 837 |
| 6 | $7.50 | 558 |

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You paid an average price of only $6.67 per Unit over six months, while the average market price actually was $7.08. With Dollar Cost Averaging, you automatically buy more Units when the market price is low and fewer Units when the market price is high. This example is for illustrative purposes only.

*DCA Program Guidelines* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Options are not available as target accounts for the DCA Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers occur on a monthly periodic schedule.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers resulting from your participation in the DCA Program are not counted towards the number of transfers allowed per contract year.

*Termination of DCA Program* 

You may terminate the DCA Program at any time. If you terminate the DCA Program and money remains in the applicable DCA Fixed Account, we transfer the remaining money according to your current allocation instructions on file. Upon notification of your death, we will terminate the DCA Program unless your Beneficiary instructs us otherwise and we will transfer the remaining money according to the current allocation instructions on file.

We reserve the right to terminate or modify the DCA Program at any time and for any reason. Any such termination or modification, however, will not affect Contract Owners currently enrolled in a DCA Fixed Account Option.

**Impact of Advisory Program Fees** 

Please note that if you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, advisory fees deducted from Account Value will also result in a reduction of any Account Value allocated to the Fixed Account Option(s) by the dollar amount assessed for the Advisory Program Fee.

**Charges and Adjustments**

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By investing in Portfolio Director, you may be subject to these fees and charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Account Maintenance Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Surrender Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Premium Tax Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Separate Account Charges (referred to as "Base Contract Expenses")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Portfolio Company Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advisory Program Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Living Benefit Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Multi-Year Enhanced Option Adjustment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other Charges

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Plus Excess Transfer Charge

These fees and charges are applied to the Variable Investment Options and Fixed Account Options in proportion to the Account Value as explained below. Unless we state otherwise, we may profit from these fees and charges. For additional information about these fees and charges, see the "*Fee Table*" section in this Prospectus. In addition, certain charges may apply to the Multi-Year Enhanced Option, which are discussed at the end of this section.

**Account Maintenance Charge (Series 1 and 9 Contracts Only)** 

Under a series 1 or 9 Contract, during the Purchase Period, an account maintenance charge of $3.75 will be deducted on the last Business Day of each calendar quarter if any of your money is invested in the Variable Investment Options. We will sell Purchase Units from your account to pay the account maintenance charge. If all your money in the Variable Investment Options is withdrawn, or transferred to a Fixed Account Option, the charge will be deducted at that time. The

charge will be assessed pro-rata among the Variable Investment Options that make up your Account Value. We do not charge an account maintenance charge during the Payout Period.

The account maintenance charge is paid to the Company to reimburse us for our administrative expenses. This includes the expense for establishing and maintaining the record keeping for the Variable Investment Options. Certain Contracts may not be subject to this charge.

**Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only)** 

Under a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract, when you withdraw money from your account, you may be subject to a surrender charge that will be deducted from the amount withdrawn. Surrender charges reimburse us for the cost of Contract sales, expenses associated with issuing your Contract, and other acquisition expenses.

If you request a partial surrender of your Account Value, a surrender charge would apply to any amount that exceeds the 10% free withdrawal allowed for any Participant Year. See below for exceptions to this charge. It is assumed that any new Purchase Payments are withdrawn before older ones; thus, the last dollar in is the first dollar out. See below for exceptions to this procedure. For information about your right to surrender, see the "*Surrenders and Withdrawals*" section in this prospectus.

Amounts exchanged from other contracts issued by the Company may or may not be subject to a surrender charge. After the exchange, it is assumed that any new Purchase Payments are withdrawn before the exchanged amount.

*Amount of Surrender Charge* 

A surrender charge will be the lesser of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount of all Purchase Payments received during the past 60 months; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount withdrawn.

*10% Free Withdrawal* 

In any Participant Year, up to 10% of the Account Value may be withdrawn without a surrender charge. The surrender charge will apply to any amount withdrawn that exceeds this 10% limit. The percentage withdrawn will be determined by dividing the amount withdrawn by the Account Value just prior to the withdrawal. If more than one withdrawal is made during a Participant Year, each percentage will be added to determine at what point the 10% limit has been reached.

These 10% withdrawals without charge do not reduce Purchase Payments for the purpose of computing the surrender charge. If a surrender charge is applied to all or part of a Purchase Payment, no surrender charge will be applied to such Purchase Payment (or portion thereof) again. There may be a 10% premature distribution tax penalty for taking a withdrawal prior to age 59½. See the "*Taxes*" section for more information.

*Exceptions to Surrender Charge* 

No surrender charge will be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If no Purchase Payments have been received during the 60 months prior to the date of surrender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 15 years or longer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 5 years or longer, and you have attained age 59½;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To "No Charge Systematic Withdrawals";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under certain contracts, to withdrawals under the No Charge Minimum Distribution provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are at least 55 years old, are no longer employed by the employer that established the plan, and your

account under the plan was established at least 5 years prior to the date of surrender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lesser of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received during the most recent 60 months; or five percent (5%) of the total amount withdrawn.

We may waive any otherwise applicable surrender charge if you reinvest the surrender proceeds in another VALIC product. You will, however, be subject to a surrender charge, if any, in the newly acquired product under the same terms and conditions as the original product. For purposes of calculating any surrender charge due, you will be considered to have acquired the new product as of the date you acquired the original product.

**Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** 

Transfers from the Fixed Account Plus option are limited to 20% per Participant Year. See **Transfers Between Investment Options**. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. This transfer charge will be paid to the Company to account for administrative expenses associated with the Fixed Account Options. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation.

*Exceptions to Fixed Account Plus Excess Transfer Charge* 

This charge will not be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under any series other than series 11 Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To transfers from the Fixed Account Option within the 20% per Participant Year limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the

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impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you retire or are separated from service.

**Premium Tax Charge** 

Premium taxes are imposed by some states, cities, and towns. The rate will range from 0% to 3.5%, depending on whether the Contract is qualified or nonqualified. Such tax will be deducted from the Account Value when annuity payments are to begin. We will not profit from this charge. See Appendix C for variations of the premium tax charge that may be applicable in your state.

**Separate Account Charges** 

The Separate Account Charge (also referred to as a Base Contract Expense) is 0.80% and is deducted daily from the average daily net asset value allocated to the Variable Investment Option(s). If you are invested in series 1 or 9, the maximum Base Contract Expense in the Fee Tables reflects the inclusion of the annual maintenance charge and accordingly will reflect a higher number. This Separate Account Charge is guaranteed and cannot be increased by the Company. For a discussion of how the Separate Account Charges impact the calculation of each Division's unit value, see "Purchase Unit Value" in the SAI.

The Separate Account Charges compensate the Company for assuming certain risks under Portfolio Director. The Company assumes the obligation to provide payments during the Payout Period for your lifetime, no matter how long that might be. In addition, the Company assumes the obligation, during the Purchase Period, to pay an interest guaranteed death benefit. The Separate Account Charges also may cover the costs of issuing and administering Portfolio Director and administering and marketing the Variable Investment Options, including but not limited to enrollment, participant communication and education. Separate Account Charges are applied to Variable Investment Options during both the Purchase Period and Payout Period.

The Separate Account Charges may be reduced if issued to certain types of plans that are expected to result in lower costs to VALIC, as discussed below. The Separate Account Charges are guaranteed and may not be increased for the life of your Contract.

*Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* 

We may, as described below, determine that the account maintenance charge, surrender charges, or Separate Account Charges for Portfolio Director may be reduced or waived. We may reduce or waive these charges if we determine that your

retirement program will allow us to reduce or eliminate administrative or sales expenses that we usually incur for retirement programs. There are a number of factors we will review in determining whether your retirement program will allow us to reduce or eliminate these administrative or sales expenses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The type of retirement program. Certain types of retirement programs, because of their stability, can result in lower administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The nature of your retirement program. Certain types of retirement programs, due to the types of employees who participate, experience fewer account surrenders, thus reducing administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other factors of which we are not presently aware that could reduce administrative costs.

We review the following additional factors to determine whether we can reduce or waive account maintenance charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program. Purchase Payments received no more than once a year can reduce administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The administrative tasks performed by your employer for your retirement program.

The employer sponsoring your retirement program can, through its method of remitting Purchase Payments, reduce administrative costs.

We review the following additional factors to determine whether we can reduce surrender charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program. A retirement program that involves a larger group of employees may allow us to reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The total amount of Purchase Payments to be received for your retirement program. Larger Purchase Payments can reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The use of mass enrollment or related administrative tasks performed by your employer for your retirement program.

We review the following additional factors to determine whether we can reduce the Separate Account Charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount of your retirement program's periodic Purchase Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The method of remitting periodic Purchase Payments.

In no event will the reduction or waiver of fees and charges be permitted where the reduction or waiver will unfairly discriminate against any person.

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Additionally, under certain circumstances, and at VALIC's sole discretion, VALIC may issue a Contract credit for amounts transferred on behalf of a group contract from another plan or provider, pursuant to the terms of the Contract.

**Payments from Portfolio Companies/Platform Charges** 

Some of the Portfolio Companies or their affiliates have an agreement with the Company to pay the Company for administrative, recordkeeping and shareholder services it provides to the underlying Portfolio Company. We receive payments for the administrative services we perform, such as account recordkeeping, mailing of Portfolio Company related information and responding to inquiries about the Portfolio Companies. Currently, these payments range from 0.00% to 0.35% of the market value of the assets invested in the underlying Portfolio Company as of a certain date, usually paid at the end of each calendar quarter.

We may also receive what is referred to as "12b-1 fees" and non-12b-1 service fees from certain Portfolio Companies. These fees are designed to help pay for our direct and indirect distribution costs. The 12b-1 fees and non-12b-1 service fees are generally equal to 0.25% of the daily market value of the assets invested in the underlying Portfolio Company.

From time to time, some of these arrangements may be renegotiated so that we receive a greater payment than previously paid.

If we do not have an arrangement to receive payments from certain Portfolio Companies, we may charge a Platform Charge in order to help us manage our costs in light of the fact that the Portfolio Company is not paying us or is paying us too little. The Platform Charges are reflected in "Appendix A – Investment Options Available Under the Contract" to help you understand the cost of investing in certain Variable Investment Options.

**Portfolio Company Expenses** 

Charges deducted from, and expenses paid out of, the assets of the Portfolio Company are described in the prospectuses for the Portfolio Companies.

**Living Benefit Fees** 

If you elected an optional Living Benefit, information about the additional fees to which you are subject can be found under "Fee Tables" and "Appendix B – Living Benefits."

**Multi-Year Enhanced Option Adjustment** 

Under the Multi-Year Option, a withdrawal will generally be subject to a surrender charge if it exceeds the amount of any free withdrawal amount permitted under your Contract. Withdrawals or transfers from an Multi-Year Option Band prior to the end of the Multi-Year Option term will be subject to a market value adjustment, unless a waiver applies. This

adjustment may be positive or negative, based upon the differences in selected interest rates at the time the Multi-Year Option Band was established and at the time of the withdrawal. This adjustment will not apply upon the Owner's death, or if the Contract Owner is not a natural person, upon the death of the Annuitant. This adjustment applies independently from surrender charges and can apply to a 10% free withdrawal. The adjustment may be waived for distributions that are required under your Contract. It will also be waived for 30 days following the end of an Multi-Year Option term. Loans are not available from the Multi-Year Option. Please review your Contract for additional information on the Multi-Year Option.

**Advisory Program Fees** 

If you enrolled in an Advisory Program, your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of the Advisory Program Fee pursuant to authorizations that you have provided to your Investment Adviser. The authorization for VALIC to deduct amounts from your Contract for payment of the Advisory Program Fee is included in the Advisory Agreement you signed with your Investment Adviser upon enrollment in the Advisory Program. The Advisory Program Fee is charged by and paid to your Investment Adviser, not VALIC, for the costs associated with administering the Advisory Program and is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Deduction of the Advisory Program Fee may reduce certain benefits guaranteed under the Contract, including Contract death benefits, optional living benefits and annuity benefits and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Impact of Advisory Program Fees** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" and "*Annuity Period*" sections for more details. Please consult your tax professional regarding the impact of deducting advisory fees from Account Value before making any election to do so.

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**Other Charges** 

We reserve the right to charge for certain taxes that we may have to pay. This could include federal income taxes. Currently, no such charges are being made.

Fees for plan services provided by parties other than VALIC or its affiliates maybe assessed to participant accounts upon the direction or authorization of a plan representative. Additional fees may be withdrawn from client accounts in accordance with a client's independent investment advisory contract. Such withdrawals will be identified on applicable participant account reports or client statements.

Plan loans from the Fixed Account Options may be allowed by your employer's plan. Refer to your plan for a description of

charges and other information concerning plan loans. We reserve the right to charge a fee of up to $75 per loan (if permitted under state law) and to limit the number of outstanding loans.

**Exchange Privilege**

From time to time, we may offer to exchange certain fixed or variable contracts into Portfolio Director. Such an exchange offer will be made in accordance with applicable federal securities laws and state insurance rules and regulations. We will provide the specific terms and conditions of any such exchange offer at the time the offer is made.

**General Description of Contracts**

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**About the Contracts** 

The Contracts were developed to help you save money for your retirement and are available to individuals who are Participants in a group Contract through an employer-sponsored qualified retirement plan as well as individuals investing in the Contract through an IRA or other non-qualified arrangements. The Contracts offer a combination of Variable Investment Options and Fixed Account Options that you, as a Participant or an Individual, may choose to invest in to help you reach your retirement savings goals. You should consider your personal risk tolerances and your retirement savings plan in choosing your investment options.

A group Contract is a Contract that is purchased by an employer for a retirement plan. The employer and the plan documents will determine how contributions may be made to the Contracts. For example, the employer and plan documents may allow contributions to come from different sources, such as payroll deductions or money transfers. The amount, number, and frequency of your Purchase Payments may also be determined by the retirement plan for which your Contract was purchased. Likewise, the employer's plan may have limitations on partial or total withdrawals (surrenders), the start of annuity payments, and the type of annuity payout options you select. For Contracts purchased under a retirement plan, the plan may designate the available Investment Options under the Contract and may be required to provide direction regarding additions or replacements of Investment Options. Plans subject to Title I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") may be subject to additional plan and Contract provisions.

If you are purchasing the Contract as an individual, through certain after-tax arrangements such as an IRA or as a non-qualified contract, you are the owner of the Contract and retain the rights and authority to make decisions about your Contract including contributions, investment allocations, and

annuitization, subject to limitations discussed in this Prospectus. For example, if you purchase your Contract as a tax-deferred, non-qualified annuity, the Public Funds included in Appendix A will not be available as Variable Investment Options in your Contract.

The retirement savings process with the Contracts will involve two stages: the accumulation Purchase Period, and the annuity Payout Period. The accumulation period is when you make contributions into the Contracts called "Purchase Payments." The Payout Period begins when you decide to annuitize all or a portion of your Account Value. You can select from a wide array of payout options including both fixed and variable payments. For certain types of retirement plans, such as 403(b) plans, there may be statutory restrictions on withdrawals as disclosed in the plan documents. Refer to your plan document for guidance and any rules or restrictions regarding the accumulation or annuitization periods. For more information, see the "*Purchases and Contract Value*" and "*Annuity Period*" sections in this prospectus.

**For material state variations associated with the Contracts, see *Appendix C*.** 

**About the General Account** 

Any obligations under the Contract that are funded by our General Account, including death benefits and the Fixed Account Options, are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

If you have questions about your Contract, call your investment professional or contact us at 1-800-448-2542.

**About the Series** 

This prospectus describes 12 different Classes, which we call series, of the Contract. There are differences among the series with respect to surrender charges, other fees and charges,

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restrictions, and features. Each series is offered to certain group plans or through certain markets. The following table reflects the group plans and markets through which the series are offered.

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| | |
|:---|:---|
| **Series** | **Group Plans / Markets** |
| Series 1 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Plans; <br> Individual Retirement Accounts (IRAs)<br>|
| Series 2 | Higher Education Plans |
| Series 3<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 4<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 5 | Healthcare Plans; Higher Education Plans; <br> K-12 Plans<br>|
| Series 6 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Section 457 <br> Defined Contribution Plans; <br> Section 501(c)(3) Organization Plans<br>|
| Series 7 | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 8<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 9 | Certain Non-qualified Arrangements |
| Series 10<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 11 | Higher Education Plans |
| Series 12 | Government Section 457 Defined <br> Contribution Plans<br>|

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<sup>(1)</sup> Not available for new sales. New participants are allowed under existing Contracts.

<sup>(2)</sup> Not available for new sales. No new participants are allowed under existing Contracts.

**Transfers Among the Investment Options** 

You may transfer all or part of your Account Value between the various Variable Investment Options and Fixed Account Options in Portfolio Director up to the applicable limits without a charge. Transfers may be made during the Purchase Period or during the Payout Period, subject to certain restrictions. If you are enrolled in an Advisory Program, in order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program. **We reserve the right to limit the number, frequency (minimum period of time between transfers) or dollar amount of transfers you can make and to restrict the method and manner of providing or communicating transfers or reallocation instructions.** You will be notified of any changes to this policy through newsletters or information posted online at www.corebridgefinancial.com/rs.

*During the Purchase Period — Policy Against Market Timing and Frequent Transfers* 

VALIC has a policy to discourage excessive trading and market timing. Our Investment Options are not designed to accommodate short-term trading or "market timing" organizations, or individuals engaged in certain trading strategies, such as programmed transfers, frequent transfers, or transfers that are large in relation to the total assets of a Portfolio Company. These trading strategies may be disruptive to Portfolio Companies by diluting the value of the Portfolio Company shares, negatively affecting investment strategies and increasing portfolio turnover. Excessive trading may also raise Portfolio Company expenses, such as recordkeeping and transaction costs, and can potentially harm Portfolio Company performance. Further, excessive trading may harm Portfolio Company investors, as the excessive trading takes security profits intended for the entire Portfolio Company and could force securities to be sold to meet redemption needs. The premature selling and disrupted investment strategy could cause the Portfolio Company's performance to suffer, and exerts downward pressure on the Portfolio Company's price per share.

Accordingly, VALIC implemented certain policies and procedures intended to discourage short-term trading. If you sell Purchase Units in a Variable Investment Option valued at $5,000 or more, whether through an exchange, transfer, or any other redemption, you will not be able to make a purchase of $5,000 or more in that same Variable Investment Option for 30 calendar days.

This policy applies only to investor-initiated trades of $5,000 or more, and does not apply to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Plan-level or employer-initiated transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase transactions involving transfers of assets or rollovers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Retirement plan contributions, loans, and distributions (including hardship withdrawals);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Roth IRA conversions or IRA recharacterizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic purchases or redemptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic account reallocations and/or rebalancing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trades of less than $5,000.

Transfers resulting from your participation in the GPS Portfolio Manager Program or GPA Program administered by VALIC Financial Advisors, Inc. will not count against these transfer limitations.

As described in a Portfolio Company's prospectus and statement of additional information, in addition to the above, Portfolio Company purchases, transfers and other redemptions may be subject to other investor trading policies, including redemption fees, if applicable. Certain Portfolio Companies may set limits on transfers in and out of a Portfolio Company within a set time

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period in addition to or in lieu of the policy above. Also, an employer's benefit plan may limit an investor's rights to transfer.

We intend to enforce these investor trading policies uniformly. We make no assurances, however, that all the risks associated with frequent trading will be completely eliminated by these policies and/or restrictions. If we are unable to detect or prevent

market timing activity, the effect of such activity may result in additional transaction costs for the investment options and dilution of long-term performance returns. Thus, your account value may be lower due to the effect of the extra costs and resultant lower performance. We reserve the right to modify these policies at any time.

The Fixed Account Options are subject to additional restrictions:

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| | | | |
|:---|:---|:---|:---|
| **Fixed Account Option** | **Value** | **Frequency** | **Other Restrictions** |
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; Up to 20% per <br> Participant Year<br>| &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If you transfer assets from Fixed Account Plus to another investment <br> option, any assets transferred back into Fixed Account Plus within 90 <br> days may receive a different rate of interest than your new Purchase <br> Payments.<sup>(1)</sup><br>|
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If Account Value is less than or equal to $500. |
| Short-Term Fixed Account: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; After a transfer into the Short-Term Fixed Account, you may not make <br> a transfer from the Short-Term Fixed Account for 90 days.<sup>(2)</sup><br>|
| Multi-Year Option<sup>(3)</sup>: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Withdrawals or Transfers subject to market value adjustment if prior to <br> the end of an MVA term. Each MVA Band will require a minimum <br> transfer amount, as described in the Contract.<sup>(4)</sup><br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6-month & <br> DCA Fixed Account 12-<br> month<sup>(5)</sup>:<br>| &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Transfers can be made from a DCA Fixed Account Option at any time. <br> Only money remaining in the Option will earn interest. Transfers from <br> other Options are not allowed into the DCA Fixed Account Options at <br> any time.<br>|

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<sup>(1)</sup>

If multiple transfers are made in a Participant Year, the percentages of the Account Value transferred each time will be added together to determine the 20% transfer limit for that Certificate Year. Your employer may further limit or expand the restrictions. We may charge for those modified restrictions if specified in your employer's retirement plan. For Series 11 Contracts, see **Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** for transfers in excess of the 20% limitation.

<sup>(2)</sup>

VALIC may change this holding period at any time in the future, but it will never be more than 180 days.

<sup>(3)</sup>

The Multi-Year Option may not be available unless it has been selected as an option for your employer's retirement plan.

<sup>(4)</sup>

The minimum transfer amount may be changed from time to time by the Company.

<sup>(5)</sup>

The DCA Fixed Account 6-month & DCA Fixed Account 12-month Options are only available for individual retirement annuities.

Contracts issued in connection with certain plans or programs may have different transfer restrictions due to the higher interest rates offered on Fixed Account Plus. From time to time we may waive the 20% transfer restriction on Fixed Account Plus for transfers to the Multi-Year Option or to other Investment Options.

*Communicating Transfer or Reallocation Instructions* 

Transfer instructions may be given by telephone, through the internet, using the self-service automated phone system, or in writing. We encourage you to make transfers or reallocations through the internet or the self-service automated phone service for most efficient processing. We will send a confirmation of transactions to the Participant within five days from the date of the transaction. It is your responsibility to verify the information

shown and notify us of any errors within 30 calendar days of the transaction.

Generally, no one may give us telephone instructions on your behalf without your written or recorded verbal consent. Investment professionals or authorized broker-dealer employees who have received client permission to perform a client-directed transfer of value via the telephone or internet will follow prescribed verification procedures.

When receiving instructions over the telephone or online, we follow appropriate procedures to provide reasonable assurance that the transactions executed are genuine. Thus, we are not responsible for any claim, loss or expense from any error resulting from instructions received over the telephone or online. If we fail to follow our procedures, we may be liable for any losses due to unauthorized or fraudulent instructions. We

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reserve the right to modify, suspend, waive or terminate these transfer provisions at any time.

*Effective Date of Transfer* 

The effective date of a transfer will be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The date of receipt, if received in good order by us before Market Close; otherwise,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The next date values are calculated.

*Transfers During the Payout Period* 

During the Payout Period, transfer instructions must be given in writing and mailed to the Annuity Service Center. Transfers may be made between the Contract's Investment Options subject to the following limitations:

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| | | |
|:---|:---|:---|
| **Payout Option** | **% of Account Value** | **Frequency** |
| Variable Payout: | Up to 100% | Once every 365 days |
| Combination Fixed and Variable Payout: | Up to 100% of money in variable option payout | Once every 365 days |
| Fixed Payout: | Not permitted | N/A |

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**Other Contract Features**

*Changes That May Not Be Made* 

The following terms in the Contracts may not be changed once your account has been established:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner (except for an individual nonqualified Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annuitant.

*Change of Beneficiary* 

The beneficiary (if not irrevocable) may usually be changed ay any time. Two or more Beneficiaries may be designated to receive separate percentage interests in the death benefits payable under the contract. Each such Beneficiary may separately exercise the rights that a Beneficiary has under the Contract.

One of more contingent Beneficiaries may be designated. A contingent Beneficiary will receive benefits payable upon the Participant's death if all of the primary Beneficiaries have died prior to the Participant. A contingent Beneficiary will have all of the same rights as a Beneficiary during the Purchase Period or Payout Period.

Under some retirement programs, the right to name a Beneficiary other than the spouse or to change a Beneficiary is subject to approval by the spouse. Also, the right to name a Beneficiary other than the spouse may be subject to certain laws and regulations applicable to the plan.

If the Annuitant dies, and there is no Beneficiary, any death benefit will be payable to the Annuitant's estate, except in the case of a nonqualified Contract where the Contract Owner and

Annuitant are different, in which case the death benefit is paid to the Contract Owner or the Contract Owner's estate.

If a Beneficiary dies prior to the Participant, that Beneficiary's interest will be divided pro rata among the remaining Beneficiaries.

If a Beneficiary dies while receiving payments, and there is no co-Beneficiary to continue receiving payments, any amount still due will be paid to the Beneficiary's estate.

*Contingent Owner* 

The Contract Owner may name a contingent owner under an individual nonqualified Contract. During the Purchase Period, the contingent owner may be changed.

*We Reserve Certain Rights* 

We may amend the Contracts to comply with changes in federal tax, securities, or other laws. We may also make changes to the Variable Investment Options offered under the Contracts. For example, we may add new Variable Investment Options to expand the offerings for an asset class. We may stop accepting allocations and/or investments in a particular Variable Investment Option when not in the best interest of the Contract Owner or the Separate Account, such as when the shares of the underlying Portfolio Company are no longer available for investment or if, for example, the underlying Portfolio Company is dealing with material regulatory and/or legal issues, sustained performance downturns, or significant increases in expenses. We may move assets and re-direct future premium allocations from one Variable Investment Option to another in accordance with federal and state law and, in some cases, with SEC approval. The new Variable Investment Option offered may have different fees, expenses, objectives, strategies and risks.

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We may restrict your ability to combine Contracts and may modify or suspend or impose additional or different conditions with respect to options available under the Contracts, as may be allowed by federal or state law. We will not make any changes to the Contracts without Contract Owner and/or Participant (as applicable) permission except as may be allowed by federal or state law. We may add endorsements to the Contracts that would apply only to new Contract Owners and Participants after the effective date of the changes. These changes would be subject to approval by the Company and may be subject to approval by the SEC.

We reserve the right to operate VALIC Separate Account A as a management investment company under the applicable securities laws, and to deregister VALIC Separate Account A under applicable securities laws, if registration is no longer required.

We reserve the right to close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Variable Investment Options, with advance written notice. We may make the Fixed Account Options available or close the Fixed Account Options as frequently as we determine at any point in time while the Contract is in force, provided we give advance written notice in each case.

*Relationship to Employer's Plan* 

If the Contract is being offered under a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contracts in this prospectus.

**Annuity Period**

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The Annuity Period, also referred to as the Payout Period, begins when you decide to retire or when you elect to annuitize all or a portion of your Account Value. If your employer's plan permits, you may apply any portion of your Account Value to one of the types of payout options listed below. However, if you are Participant in an employer-sponsored retirement plan, the payout options available to you may differ or be limited based on your employer's plan.

You may choose to have your Payout Payments on a fixed, a variable, or a combination of fixed and variable basis. If you do not elect the basis upon which your Payout Payments will be made, the Payout Payments will mirror the allocation of Investment Options in your Contract upon annuitization. When you choose to have your Payout Payments on a variable basis, you may keep the same Variable Investment Options in which your Purchase Payments were made, or transfer to different ones. For example, if your Account Value is allocated solely to the Variable Investment Options upon annuitization and you have not made an election, your Payout Payments will be made on a variable basis, or if your Account Value is allocated solely to a Fixed Account Option, your Payout Payments will be made on a fixed basis. Similarly, if your Account Value is allocated to both Variable Investment Options and Fixed Account Options, Payout Payments will be made on a combination of fixed and variable basis.

**Payout Payments on a Fixed Basis** 

Under a payout on a fixed basis you will receive payments that are fixed and guaranteed by the Company. The amount of these payments will depend on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Type and duration of payout option chosen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your age or your age and the age of your survivor<sup>(1)</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your gender or your gender and the gender of your survivor<sup>(1)</sup> (IRAs and certain nonqualified Contracts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The portion of your Account Value being applied; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The payout rate being applied and the frequency of the payments.

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<sup>(1)</sup>

This applies only to joint and survivor payouts.

If the benefit would be greater, the amount of your payments will be based on the current payout rate the Company uses for immediate annuity contracts.

**Assumed Investment Rate** 

An "Assumed Investment Rate" or "AIR" is the rate used to determine your first monthly Payout Payment per thousand dollars of account value in your Variable Investment Option. When you decide to enter the Payout Period, you will select your Payout Option, your Annuity Date, and the AIR. If you choose a higher AIR, the initial Annuity Payment will be higher, but later payments will increase more slowly during periods of good performance and decrease faster during periods of poor investment performance Once the AIR is established, it cannot be changed. Rates of 3%, 3.5%, 4.5%, 5% or a higher rate may be chosen if permitted by state law and regulations. If no AIR is chosen, the AIR will be 3.5%. The dollar amount of the variable income payments stays level if the net investment return equals the AIR. Your choice of AIR may affect the duration and frequency of payments, depending on the Payout Option selected. For example, a higher AIR will generate a higher initial Payout Payment, but as Payout Payments continue they may become smaller, and eventually could be less than if you had initially selected a lower AIR. The frequency of the Payout Payments may lessen to ensure that each Payout Payment is at least $25 per month.

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**Payout Payments on a Variable Basis** 

With a payout on a variable basis, you may select from your existing Variable Investment Options. Your payments will vary accordingly. This is due to the varying investment results that will be experienced by each of the Variable Investment Options you selected. The Payout Unit value is calculated just like the Purchase Unit value for each Variable Investment Option except that the Payout Unit value includes a factor for the AlR you select. For additional information on how Payout Payments and Payout Unit Values are calculated, see the SAI*.* 

In determining your first Payout Payment, an AIR of 3.5% is used (unless you select a higher rate as allowed by state law). If the net investment experience of the Variable Investment Option exceeds your AIR, your subsequent payments will be greater than your first payment. If the investment experience of the Variable Investment Option is lower than your AIR, your subsequent payments will be less than your first payment.

**Payout Payments on a Combination of a Fixed and Variable Basis** 

With a combination fixed and variable payout, you may choose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• From your existing Variable Investment Options (payments will vary); with a

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed payout (payment is fixed and guaranteed).

**Partial Annuitization** 

You may choose to annuitize a portion of the Account Value. This will, in essence, divide the Account Value into two parts. The current non-annuitized part would continue as before and you can continue to take withdrawals on this part of the Account. The annuitized part will effectively be moved to a new Payout Payment account, which will not allow any additional withdrawals. Thus, the death benefit in such a situation would be reduced to the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account, such as a payout for a guaranteed period. Full or partial commutations are not permitted.

**Payout Date** 

The payout date is the date elected by you on which the annuity Payout Payments will start. The date elected must be the first of any month. A request to start payments must be received in the Annuity Service Center on a form or through other media approved by VALIC. This request must be received by VALIC by at least the fifteenth (15th) day of the month prior to the month you wish your annuity payments to start. Your account will be valued ten days prior to the beginning of the month in which the Payout Payments will start.

The following additional rules also apply when determining the payout date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for a nonqualified Contract, an IRA, or a Roth IRA, is established by the terms of the contract, and generally can be any time from age 50 to age 85, and may not be later than age 85 without VALIC's consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for all other qualified Contracts is generally subject to the terms of the employer-sponsored plan (including 403(b) plans and programs) under which the Contract is issued and the federal tax rules governing such Contracts and plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Distributions from qualified Contracts issued under employer-sponsored retirement plans generally are not permitted until after you stop working for the employer sponsoring the plan, unless you have experienced a qualifying financial hardship (or in the case of a 457(b) plan, an unforeseeable emergency) or unless you have become disabled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In certain cases, and frequently in the case of your voluntary deferrals to a 403(b) or a 401(k) plan, you may begin taking distributions when you attain age 59½ even if you are still working for the employer sponsoring the plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Except in the case of nonqualified Contracts, IRAs, and Roth IRAs, distributions generally must begin no later than April 1 following the calendar year you reach age 72 or the calendar year in which you retire, if later. Similar rules apply to IRAs, however distributions from those Contracts may not be postponed until after retirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All Contracts require distributions to commence within a prescribed period after the death of the Contract Owner/Participant, subject to the specific rules which apply to the type of plan or arrangement under which the contract is issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract may also impose minimum amounts for annuity payments, either on an annual or on a more frequent periodic basis.

For additional information on plan-level distribution restrictions and on the minimum distribution rules that apply to payments under 403(b), 401, 403(a) and 457 plans, simplified employee plans ("SEPs") or IRAs, see the "*Taxes*" section in this prospectus and the SAI.

**Payout Options** 

You may specify the manner in which your Payout Payments are made. You may select one of the following options:

1. ***Life Only*** — payments are made only to you during your lifetime. Under this option there is no provision for a death

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benefit for the Beneficiary. For example, it would be possible under this option for the Annuitant to receive only one Payout Payment if the Annuitant died prior to the date of the second payment, or two if the Annuitant died before the third payment.

2. ***Life with Guaranteed Period*** — payments are made to you during your lifetime, but if you die before the guaranteed period has expired, your Beneficiary can receive payments for the rest of your guaranteed period or take a lump-sum distribution.

3. ***Life with Cash or Unit Refund*** — payments are made to you during your lifetime. These payments are based upon your life expectancy and will continue for as long as you live. If you do not outlive the life expectancy calculated for you, upon your death, your Beneficiary may receive an additional payment. The additional payment under a fixed annuity, if any, is equal to the fixed annuity value of the Contract Owner's Account at the time it was valued for the payout date, less the Payout Payments. The additional payment under a variable annuity, if any, is equal to the variable annuity value of the Contract Owner's Account as of the date we receive Proof of Death, less the Payout Payments.

4. ***Joint and Survivor Life*** — payments are made to you during the joint lifetime of you and a second person. Upon the death of one, payments continue during the lifetime of the survivor. This option is designed primarily for couples who require maximum possible variable payouts during their joint lives and are not concerned with providing for beneficiaries at the death of the last survivor. For example, it would be possible under this option for the joint Annuitants to receive only one payment if both Annuitants died prior to the date of the second payment, or for the joint Annuitants to receive only one payment and the surviving Annuitant to receive only one payment if one Annuitant died prior to the date of the second payment and the surviving Annuitant dies prior to the date of the third payment. For example, if the Annuitant dies before receiving a Payout Payment the first Payout Payment will be made to the second designated person. If both the Annuitant and the second designated person die before the first Payout Payment is made, no Payout Payments will be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. ***Payment for a Designated Period*** — payments are made to you for a select number of years between five and 30. Upon your death, payments will continue to your Beneficiary until the designated period is completed.

**Payout Information** 

**Once your Payout Payments have begun, the option you have chosen may not be stopped or changed**. Any one of the Variable Investment Options may result in your receiving unequal payments during the Payout Period. If payments begin before age 59½, you may suffer unfavorable tax consequences, in the form of a penalty tax, if you do not meet an exception under federal tax law. See the "*Taxes*" section in this prospectus.

Under certain retirement plans, federal pension law may require that payments be made under the joint and survivor life payout option.

Most Payout Payments are made monthly. The first Payout Payment must total at least $25, and the annual payment must be at least $100. If the amount of a payment is less than $25, we reserve the right to reduce the frequency of payments so that each payment is at least $25, subject to any limitations under the Contract or plan.

**Impact of Advisory Program Fees on Payout Payments** 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee will reduce the annuitization benefit. The examples below assess the impact of the deduction of Advisory Program Fees on the Contract's value upon annuitization, assuming an initial $100 deposit.

1. If, at the payout date, the Contract value has increased to $120 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $119. Your Payout Payments will be based on a Contract value of $119.

2. If, at the payout date, the Contract value has decreased to $90 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $89. Your Payout Payments will be based on a Contract value of $89.

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**Benefits Available Under the Contract**

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**The following tables summarize information about the benefits available under the Contract.** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Interest <br> Guaranteed Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments plus <br> interest<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Payable only if death occurs before age 70<br> •May not be available in all states<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Standard Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Generally payable only if death occurs on <br> or after age 70<br> •Payable in any state where the interest <br> guaranteed death benefit is not available, <br> even if death occurs before age 70<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals may be subject to surrender <br> charges<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|
| No Charge <br> Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period <br> without surrender <br> charges<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals must be made to you over a <br> period of not less than five years, and the <br> annual amount withdrawn may not exceed <br> 20% of Account Value at time of election<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •May not change election once withdrawals <br> begin<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Loans | &nbsp;&nbsp; Provides tax-free <br> access to amounts <br> invested in Fixed <br> Account Options <br> (excluding Multi-<br> Year Enhanced <br> Options)<br>| Optional | &nbsp;&nbsp; $75 application <br> fee (per loan, <br> where permitted <br> by state law)<br> Maximum net <br> interest rate 6%<br>| &nbsp;&nbsp;&nbsp; •Available only during the Purchase Period<br> •May not be taken against amounts <br> invested in Variable Investment Options or <br> Multi-Year Enhanced Options<br> •Interest will accrue on outstanding loan <br> amounts<br> •Will automatically terminate an optional <br> Living Benefit<br> •Minimum loan amount is $1,000<br>|
| Advisory Program | &nbsp;&nbsp; The investment <br> advice service <br> provided by your <br> Investment <br> Adviser<br>| Optional | Not applicable | &nbsp;&nbsp;&nbsp; •A separate investment advisory fee and <br> agreement is required<br> •May not be available under your <br> employer's retirement plan or in <br> connection with your Contract<br> •Participation may automatically terminate <br> an optional Living Benefit<br> •If you pay any investment adviser fee from <br> the Contract, any deduction may reduce <br> the death benefit, optional living benefit <br> and annuity benefits, and may be subject <br> to surrender charges, federal and state <br> income taxes and a 10% federal penalty <br> tax.<br> •You are encouraged to discuss the <br> Advisory Program with your financial <br> professional and the impact that Advisory <br> Fees may have on your Contract Value <br> before electing to enroll in the Advisory <br> Program.<br> •For new investors, we no longer honor <br> investment adviser transfer requests in <br> connection with Advisory Programs that <br> are offered through third-party Investment <br> Advisers.<br>|
| American Home <br> Guarantee<br>| &nbsp;&nbsp; For certain <br> Contracts and <br> certificates, <br> provides an <br> additional financial <br> guarantee with <br> respect to our <br> insurance <br> obligations<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Applies only to Contracts or certificates <br> issued on December 29, 2006 or earlier<br> •Additional financial guarantee is subject to <br> American Home's financial strength and <br> claims-paying ability<br> •Does not guarantee Contract value or the <br> investment performance of the Variable <br> Investment Options<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| DCA Program | &nbsp;&nbsp; Allows you to <br> systematically <br> transfer a <br> specified dollar <br> amount or <br> percentage of <br> contract value <br> between eligible <br> investment <br> options<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Systematic transfers may only occur on a <br> monthly basis and will not count towards <br> the number of free transfers per contract <br> year<br> •Minimum Purchase Payment amounts <br> apply<br> •Only available in newly issued series 1 (in <br> an individual IRA) or series 9 (NQDA)<br> •Not available in all states<br>|

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| | | | |
|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +6 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 6%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is reduced in any benefit <br> year in which withdrawals are taken, and <br> not available in any benefit year in which <br> cumulative withdrawals are greater than <br> 6% of the Benefit Base<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | |
|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +8 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 8%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is not available in any <br> benefit year in which a withdrawal is taken<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| IncomeLOCK | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed to help <br> you create a <br> guaranteed <br> income stream for <br> a specified period <br> of time or as long <br> as you live (and <br> potentially a <br> specified period of <br> time for your <br> spouse if he or <br> she continues the <br> Contract and this <br> benefit after your <br> death), plus the <br> opportunity to <br> increase income <br> by locking in the <br> highest <br> anniversary value<br>| Optional | &nbsp;&nbsp; 0.95%\*<br> (as a percentage <br> of the Benefit <br> Base)<br>| &nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseIneligible <br> for highest anniversary value evaluation <br> period extension if any previous extension <br> opportunity was not elected or age <br> requirements are not satisfied<br> •Maximum charge may increase if <br> evaluation period is extended<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Withdrawal percentage depends on timing <br> of the first withdrawal<br> •Eligible for lifetime withdrawals only if the <br> first withdrawal is taken on or after the <br> benefit anniversary following your 65th <br> birthday. If, after your death, your spouse <br> continues the Contract and continued <br> withdrawals under this guaranteed <br> minimum withdrawal benefit, the <br> withdrawals are for a specified period of <br> time, not the spouse's life<br> •Investment restrictions may limit available <br> investment options<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May be cancelled by you on the 5th or <br> 10th benefit anniversary or any benefit <br> anniversary thereafter<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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\* If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%, and your maximum annual fee rate may increase beyond 1.15% if the Company offers an extension beyond the initial extension. See "Appendix B – Living Benefits."

**Advisory Program**

The Contract may be used where you have engaged an Investment Adviser to provide advice regarding the periodic allocation of investments within the Contract. As long as you are enrolled in an Advisory Program, your Investment Adviser will provide you with investment advice and will be responsible for providing transfer and reallocation instructions to VALIC. You may terminate an Advisory Program at any time. If you terminate the Advisory Program, your Contract will remain in force.

Your Investment Adviser is not acting on VALIC's behalf but rather is acting on your behalf. Whether your Investment Adviser is VFA or a third-party, VALIC is not responsible for any investment advice that is provided to you by your Investment Adviser. VALIC does not offer advice about how to allocate your Account Value. VALIC is not responsible for any recommendations that your Investment Adviser makes, any investment models or asset allocation programs they choose to follow, or any specific transfers that are made on your behalf.

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*For new investors, we no longer honor transfer instructions in connection with Advisory Programs that are offered through third-party Investment Advisers.*

*Advisory Agreement and Fees* 

**When you enroll in an Advisory Program you will enter into an investment advisory agreement with your Investment Adviser ("Advisory Agreement"). VALIC is not a party to the Advisory Agreement.** 

**Your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of advisory fees under the Advisory Program (the "Advisory Program Fee") pursuant to authorizations that you have provided to your Investment Adviser.** If you are enrolled in an Advisory Program with VFA, our affiliate, VALIC will be provided with a copy of your Advisory Agreement, which provides for authorization by you for VALIC to deduct the Advisory Program Fee from your Account Value. The Advisory Program Fee charged by your Investment Adviser is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Partial withdrawals, including those taken to pay the Advisory Program Fee, can reduce certain benefits guaranteed under the Contract, including Contract death benefits and other annuity benefits. This reduction of these guaranteed benefits resulting from the withdrawal for payment of the Advisory Program Fees will be the dollar amount of the fee assessed by your investment adviser, and, as described above, is based on a percentage of the Account Value managed by the Advisory Program. For a more detailed explanation about how the assessment of the Advisory Program Fees can affect the benefits under this Contract, please see **Impact of Advisory Program Fees** in the *"Description of Insurance Company, Registered Separate Account, and Investment Options"* and *"Annuity Period"* sections.

If your Contract is an IRA or Roth IRA, partial withdrawals to pay the Advisory Program Fee generally can qualify as expenses of the IRA and thus qualify as non-taxable. Partial withdrawals from a non-qualified Contract are treated as a taxable distribution. Effective January 1, 2020, however, fees taken from a non-qualified individual contract used to pay the Advisory

Program Fee for the Advisory Programs offered through VFA are not considered distributions or withdrawals from the account for tax purposes and therefore not treated as a taxable distribution beginning with the 2020 tax year. If you are under age 59 ½, withdrawals may be subject to an additional 10% tax. If you participate in a third-party Advisory Program, which means VFA is not your Investment Adviser, partial withdrawals, including Investment Adviser fees, taken from a non-qualified individual contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution. You should consult with your tax advisor for any advice regarding potential tax considerations relating to the payment of the Advisory Program Fee from your Contract.

If VFA is your Investment Adviser, the Advisory Program Fee must be withdrawn from your Contract. If you enroll in a third-party Advisory Program, a fee for that program might be paid either by you directly (from assets outside of the Contract) or from the Contract, depending upon the provisions of that program and the type and frequency of the payment required. You should consult with your Investment Adviser about any questions related to the payment of the fee.

Please see the "*Taxes*" section and consult your tax professional regarding the impact of deducting advisory fees before making any election to do so.

*Reallocations & Transfer Instructions* 

While the Advisory Program is in place, you are prohibited from making transfers among Investment Options in the Contract. During such period, transfer instructions may only be provided by the Investment Adviser. If you terminate the Advisory Program, you may make transfers among the Investment Options subject to the transfer restrictions noted in the "*General Description of the Contracts*" section of this Prospectus.

Unless you direct us otherwise, your Investment Adviser will forward instructions regarding the allocation of your Account Value, and will request financial transactions involving investment options. **If your Investment Adviser has this authority, we deem that all such transactions that are directed by your Investment Adviser with respect to your Contract have been authorized by you.** You will receive a confirmation of any financial transactions involving the purchase or sale of Purchase Units. You must contact VALIC immediately by calling 1-800-448-2542 to request a termination form if and when you want to revoke such authority. We will not be responsible for acting on instructions from your Investment Adviser until we receive notification of the revocation of such person's authority. We may also suspend, cancel or limit the Investment Adviser's authorization at any time. In addition, we may restrict the Investment Options available for transfers or allocation of Purchase Payments. We will notify you and your Investment Adviser if we implement any such restrictions or prohibitions.

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Transfers and reallocations made by your Investment Adviser are subject to the restrictions on transfers between Investment Options that are discussed in the "*General Description of the Contracts*" section of this Prospectus.

*Termination of the Advisory Program* 

You may terminate the Advisory Program at any time. However, the terms and conditions of how to terminate the Advisory Program will be set forth in your Advisory Agreement. Please consult with your Investment Adviser if you have questions about terminating the Advisory Program. We may continue to rely on instructions from your Investment Adviser until we receive notice of termination of the Advisory Agreement. If you want to notify us about the termination of your Advisory Program, please call 1-800-448-2542 to request the termination form. If you terminate the Advisory Program, your Contract will remain in force.

In order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program.

**Death Benefits**

The Contracts will pay death benefits during either the Purchase Period or the Payout Period.

*The Process* 

VALIC requires that complete and acceptable documentation and paperwork be received from the Beneficiary in order to begin the death benefit payment process. First, Proof of Death is required. Proof of Death is defined as a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death or a written statement by an attending physician. Additionally, the Beneficiary must include an election specifying the distribution method and any other form required by VALIC or a regulator to process the claim. The account will not be valued, and any payments will not be made until all paperwork is complete and in a form acceptable to VALIC. Your Beneficiary may contact us at 1-800-448-2542 with any questions about required documentation and paperwork. Death benefits are paid only once per Contract.

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit will be payable. Please see Impact of the Deduction of Advisory Program Fees on Death Benefit below regarding impacts to your death benefit due to the deduction of Advisory Program Fees.

*Beneficiary Information* 

The Beneficiary may receive death benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a lump sum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the form of an annuity under any of the Payout Options;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In partial payments over the Beneficiary's life expectancy (where permitted); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a manner mutually agreeable between the Beneficiary and VALIC that is in accordance with applicable laws and regulations.

Payment of any death benefits must be within the time limits set by federal tax law, if any. In the case of an IRA, a spousal Beneficiary may continue the Contract or may roll the funds over to an IRA. If the Beneficiary elects a life annuity for a designated or fixed period, the guarantee period cannot exceed the Beneficiary's life expectancy. After choosing a payment option, a Beneficiary may exercise many of the investment options and other rights that the Participant or Contract Owner had under the Contract.

*Special Information for Nonqualified Contracts* 

It is possible that the Contract Owner and the Annuitant under a nonqualified Contract may not be the same person. If this is the case, and the Contract Owner dies, there will be no death benefit payable since the death benefit is only due in the event of the Annuitant's death. However, the Contract will be assigned to the contingent owner, if any, or to the Contract Owner's estate. Such transfers may be considered a taxable event by the IRS. In general, payments received by your Beneficiaries after your death are taxed in the same manner as if you had received the payments. See the *"Taxes*" section.

*During the Purchase Period* 

Two types of benefits are available if death occurs during the Purchase Period: interest guaranteed death benefit and standard death benefit. The Beneficiary will receive the greater of these two benefits. The interest guaranteed death benefit ensures that the Beneficiary receives at least a minimum death benefit under the Contract, even if invested in Variable Investment Options, while the standard death benefit guarantees the return of Purchase Payments less any prior withdrawals.

As indicated above, a Contract Owner may elect to annuitize only a certain portion and leave the remaining value in the account. The death benefit in such situations would include the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account.

*Death Benefit Before Age of 70* 

The interest guaranteed death benefit is payable when death occurs prior to your reaching the age of 70, provided that the benefit is available in your state.

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The interest guaranteed death benefit is generally calculated as is shown below. The calculation becomes more complex based upon the transfers between available investment options or product exchanges. Thus, the death benefit may only be calculated for a Beneficiary once VALIC receives all paperwork, including satisfactory proof of death, complete and in a form acceptable to VALIC.

*Step 1*: Determine your Fixed Account Option Value by taking the greater of:

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| | |
|:---|:---|
|  | Value of Fixed Account Option on date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Fixed Account <br> Option<br>|
|  | – **(minus)** |
|  | Amount of all prior withdrawals from the Fixed Account <br> Option, charges and any portion of Account Value <br> applied under a Payout Option<br>|

---

*Step 2*: Determine your Variable Investment Option Value by taking the greater of:

---

| | |
|:---|:---|
|  | Value of Variable Investment Options on date all <br> paperwork is complete and in a form acceptable to <br> VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Variable <br> Investment Options<br>|
|  | – **(minus)** |
|  | Amount of prior withdrawals (out of) or transfers (out <br> of) the Variable Investment Options<br>|
|  | + **(plus)** |
|  | Interest at an annual rate as specified in your Contract |

---

*Step 3*: Add step 1 + 2 = Death Benefit

For purposes of this calculation amounts transferred into the Variable Investment Option will be treated as Purchase Payments.

This value may be adjusted if the total amount of any death benefit exceeds the Account Value.

*Death Benefit On or After Age 70* 

The standard death benefit is payable if death occurs on or after age 70, or at any age in a state where the interest guaranteed death benefit is not available.

The standard death benefit will be the greater of:

---

| |
|:---|
| Your Account Value on the date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |
| 100% of Purchase Payments (to Variable Investment <br> Options and/or Fixed Account Options)<br>|
| **(minus)** |
| Amount of all Prior Withdrawals, Charges and any <br> portion of Account Value applied under a Payout Option<br>|

---

*Adjusted Purchase Payment Amount* 

The information below is applicable to you only if you received a Death Benefit Endorsement or Amendatory Endorsement with your Contract or certificate.

If the total amount of any death benefit payable from the Variable Investment Options and Fixed Account Options under the Contract exceeds the Account Value as of the date all paperwork is complete and in a form acceptable to VALIC, then the total death benefit paid may be adjusted to limit the death benefit due to withdrawals. An Adjusted Purchase Payment Amount will be calculated, on the date all paperwork is complete and in a form acceptable to VALIC, determined as follows:

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| | |
|:---|:---|
| A. | 100% of Purchase Payments |
| – | **(minus)** |
| B. | Gross Withdrawals (see below) and any portion of <br> Account Value applied under a Payout Option<br>|
| + | **(plus)** |
| C. | Interest on the result of A minus B at an annual rate as <br> specified in your Contract (see below).<br>|

---

Each "Gross Withdrawal" is calculated by multiplying the Adjusted Purchase Payment Amount by a fraction. The numerator of the fraction is the amount of the withdrawal plus any associated fees and charges. The denominator of the fraction is the Account Value immediately prior to the withdrawal. Thus, each Gross Withdrawal will proportionately reduce the Adjusted Purchase Payment Amount. The interest adjustment in C. above is added only if you are under age 70 at the time of death.

The Contract death benefit and the Adjusted Purchase Payment Amount are compared. The lesser amount is then compared to the Account Value, and the beneficiary will receive the greater of those two amounts.

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*During the Payout Period* 

If the Annuitant dies during the Payout Period, the Beneficiary may receive a death benefit depending on the payout option selected. The amount of death benefit will also depend on the payout option that you selected. The payout options available are described in the "*Annuity Period*" section of this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life only option or joint and survivor life option was chosen, there will be no death benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life with guaranteed period option, life with cash or unit refund option or payment for a designated period option was chosen, and the entire amount guaranteed has not been paid, the Beneficiary may choose one of the following within 60 days after death benefits are payable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Receive the present value of any remaining payments in a lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Receive the remaining payments under the same terms of the guaranteed period option chosen by the deceased Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Receive the present value of any remaining payments applied under the payment for a designated period option for a period equal to or shorter than the period remaining. Spousal Beneficiaries may be entitled to more favorable treatment under the Contract and/or under federal tax law, including additional permitted delays before beginning distributions, as well as being able to continue the Contract as their own and not as a beneficiary account.

*Impact of the Deduction of Advisory Program Fees on Death Benefit* 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the death

benefit. The examples below assess the impact of the Advisory Program Fee on the Contract's death benefit assuming an initial $100 deposit and no additional payments and no withdrawals.

1. If, at the end of the year, the Contract value increases to $120 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $119. If you die, your Contract's death benefit is $119.

2. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee will not reduce the death benefit which will be at least $100 (your premium payment) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Please note that if you are participating in an Advisory Program offered through a third-party Investment Adviser, the example below instead applies. Example 2 does not apply to you.** 

3. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee **<u>will</u>** reduce the death benefit to $99 (your premium payment less Advisory Program Fees deducted) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Purchases and Contract Value**

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The Purchase Period begins when your first Purchase Payment is made and continues until you begin your Payout Period. This period may also be called the accumulation period, as you save for retirement. Changes in the value of each Variable Investment Option and Fixed Account Option are reflected in your overall Account Value. Thus, your investment choices and their performance will affect the total Account Value that will be available for the Payout Period. The amount, number, and frequency of your Purchase Payments may be determined by the retirement plan for which your Contract was purchased. The Purchase Period will end upon death, upon surrender, or when you complete the process to begin the Payout Period.

**Account Establishment** 

You may establish an account through an investment professional. Initial Purchase Payments must be received by VALIC either with, or after, a completed application. If part of an employer-sponsored retirement plan, your employer is responsible for remitting Purchase Payments to us. The employer is responsible for furnishing instructions to us (a premium flow report) as to the amount being applied to your account (see below). Purchase Payments can also be made by you for IRAs and certain nonqualified Contracts.

The maximum single payment that may be applied to any account without prior Home Office approval is $1,000,000.

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Minimum initial and subsequent Purchase Payments are as follows:

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| | | |
|:---|:---|:---|
| **Contract Type** | **Initial**<br> **Payment**<br>| **Subsequent**<br> **Payment**<br>|
| Periodic Payment | &nbsp;&nbsp; $30 | &nbsp;&nbsp; $30 |
| Single Payment | &nbsp;&nbsp; $1000 | &nbsp;&nbsp; N/A |

---

Periodic Payment minimums apply to each Periodic Payment made. The Single Payment minimum applies to each of your accounts.

When an initial Purchase Payment is accompanied by an application, we will promptly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accept the application and establish your account within 2 Business Days. We will also apply your Purchase Payment by crediting the amount, effective the date we accept your application, to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Request additional information to correct or complete the application. In the case of an individual variable annuity Contract, we will return the Purchase Payments within 5 Business Days if the requested information is not provided, unless you otherwise so specify. Once you provide us with the requested information, we will establish your account and apply your Purchase Payment, effective the date we accept your application, by crediting the amount to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reject the application and return the Purchase Payment.

If we receive Purchase Payments from your employer before we receive your completed application or enrollment form, we will not be able to establish a permanent account for you. If this occurs, we will take one of the following actions:

*Return Purchase Payments*. If we do not have your name, address or Social Security Number ("SSN"), we will return the Purchase Payment to your employer unless this information is immediately provided to us; or

*Employer-Directed Account*. At the direction of your employer, provided on a form acceptable to VALIC and accompanied by certain necessary information (such as name, address, and SSN), we may establish an account for you. In that case we will deposit your Purchase Payment in an "Employer-Directed" account invested in a Money Market Division, or other Investment Options chosen by your employer, and provide a Contract or certificate. If you want an investment professional to assist you in allocating these amounts, you will first need to provide certain personal and financial information that may be required by the investment professional in order to provide such assistance; or

*Starter Account*. If we have your name, address and SSN, but we do not have an agreement with your employer for employer-directed accounts, we will deposit your Purchase Payment in a "starter" account invested in the Money Market Division option available for your plan or other Investment Options chosen by your employer. We will send you a follow-up letter requesting the information necessary to complete the application, including your allocation instructions. If we do not receive the necessary information within 105 days, we may return the Purchase Payment to your employer or convert the account to an "unsolicited" account which would be subject to many of the same restrictions as a starter account. You may not transfer these amounts until VALIC has received a completed application or enrollment form.

If mandated under applicable law, we may be required to reject a Purchase Payment. We may also be required to block a Contract Owner's account and thereby refuse to pay any request for transfers, withdrawals, surrenders, loans or death benefits, until instructions are received from the appropriate regulatory authority.

**When Your Account Will Be Credited** 

Depending on your retirement plan, Purchase Payments may be made by your employer for your account or by you for an IRA or certain nonqualified Contracts. It is the employer's or the individual's responsibility to ensure that the Purchase Payment can be promptly posted to the appropriate account(s).

A Purchase Payment must be "in good order" before it can be posted to your account. "In good order" means fully and accurately completed form(s) and/or instructions, including necessary documentation, and that all required information and/or documentation to any given transaction has been received by us and that, where applicable, the funds (check, wire, or ACH) clearly identify the individual SSN or Group Number to which they are to be applied. To ensure efficient posting for Employer-Directed accounts, Purchase Payment information must include complete instructions, including the group name and number, each employee's name and SSN, contribution amounts (balanced to the penny for the total purchase) and the source of the funds (for example, employee voluntary, employer mandatory, employer match, transfer, rollover or a contribution for a particular tax year). Purchase Payments for individual accounts must include the name, SSN, and the source of the funds (for example, transfer, rollover, or a contribution for a particular tax year).

If a subsequent Purchase Payment is in good order as described and is received by our bank by Market Close, the appropriate account(s) will be credited the Business Day of receipt. Purchase Payments in good order received after Market Close will be credited on the next Business Day. See **Account Establishment** above for information about initial Purchase Payments.

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Note that if the Purchase Payment is not in good order, the employer or individual will be notified promptly. No amounts will be posted to any accounts until all issues with the Purchase Payment have been resolved. If a Purchase Payment is not received in good order, the purchase amounts will be posted effective the Business Day all required information is received.

We will allocate Purchase Payments (less any charges) to the Variable Investment Options and Fixed Account Options selected by you. Each selection must be a whole percentage of Purchase Payments.

Throughout the duration of the Contract, VALIC may close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Investment Options, with advance written notice. VALIC may make the Fixed Account Options available or close the Fixed Account Options as frequently as it determines at any point in time while the Contract is in force, provided that VALIC gives advance written notice in each case.

**Purchase Units** 

A Purchase Unit is a unit of interest owned by you in your Variable Investment Option. Purchase Unit values are calculated each Business Day following Market Close. Purchase Units may be shown as "Number of Shares" and the Purchase Unit values may be shown as "Share Price" on some account statements.

**Calculation of Value for Fixed Account Options** 

The Fixed Account Plus, Short-Term Fixed Accounts, and DCA Fixed Accounts are part of the Company's general assets. The Multi-Year Option may be invested in either the general assets of the Company or in a separate account of the Company, depending upon state requirements. You may allocate all or a portion of your Purchase Payment to the Fixed Account Options listed in **Fixed Account Options** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus. Purchase Payments you allocate to these Fixed Account Options are guaranteed to earn at least a minimum rate of interest. Interest is paid on each of the Fixed Account Options at declared rates, which may be different for each option. With the exception of a market value adjustment, which generally will be applied to withdrawals or transfers from a Multi-Year Option prior to the end of an MVA term, we bear the entire investment risk for the Fixed Account Options. All Purchase Payments and interest earned on such amounts in your Fixed Account Option will be paid regardless of the investment results experienced by the Company's general assets. The minimum amount to establish each new Multi-Year Option guarantee period (MVA Band), as described in the Contract, may be changed from time to time by the Company.

The value of your Fixed Account Option is calculated on a given Business Day as shown below:

Value of Your Fixed Account Options\*

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| | |
|:---|:---|
| **=** | **(equals)** |
|  | &nbsp;&nbsp; All Purchase Payments made to the Fixed Account <br> Options<br>|
| **+** | **(plus)** |
|  | &nbsp;&nbsp; Amounts transferred from Variable Investment <br> Options to the Fixed Account Options<br>|
| + | **(plus)** |
|  | All interest earned |
| – | **(minus)** |
|  | &nbsp;&nbsp; Amounts transferred or withdrawn from Fixed Account <br> Options (including applicable fees and charges)<br>|

---

\*

This value may be subject to a market value adjustment under the Multi-Year Option.

**Calculation of Value for Variable Investment Options** 

You may allocate all or a portion of your Purchase Payments to the Variable Investment Options listed in this prospectus as permitted by your retirement program. An overview of each of the Variable Investment Options may be found in "*Appendix A – Investment Options Available Under the Contract*" and **Variable Investment Options** in the "*Description of the Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus and in each Portfolio Company's prospectus. The Purchase Unit value of each Variable Investment Option will change daily depending upon the investment performance of the underlying Portfolio Company (which may be positive or negative) and the deduction of the Separate Account Charges. See "*Charges and Adjustments*." Your account will be credited with the applicable number of Purchase Units, including any dividend or capital gains per share declared on behalf of the underlying Portfolio Company as of that day. The number of Purchase Units you are credited is calculated the day we process your Purchase Payment. Please see the **When Your Account Will Be Credited** section above.

The Purchase Unit value is determined by multiplying the Purchase Unit value for the preceding Business Day by a factor for the current Business Day. The factor is determined by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. dividing the net asset value per share of the Underlying Portfolio Company at the end of the current Business Day, plus any dividend or capital gains per share declared on behalf of the Underlying Portfolio Company as of that day, by the net asset value per share of the Underlying Portfolio Company for the previous Business Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. multiplying it by one minus all applicable daily asset-based charges.

We determine the number of Purchase Units credited to your contract by dividing the Purchase Payment by the Purchase Unit value for the specific Variable Investment Option.

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If the Purchase Payment is in good order as described and is received by us by Market Close, the appropriate account(s) will be credited the Business Day of receipt and will receive that Business Day's Purchase Unit value. Purchase Payments in good order received by us after Market Close will be credited the next Business Day and will receive the next Business Day's Purchase Unit value. Because Purchase Unit values for each Variable Investment Option change each Business Day, the number of Purchase Units your account will be credited with for subsequent Purchase Payments will vary. **Each Variable Investment Option bears its own investment risk. Therefore, the value of your account may be worth more or less at retirement or withdrawal and the entire loss of principal is possible.** 

During periods of low short-term interest rates, and in part due to Contract fees and expenses, the yield of the Goldman Sachs VIT Government Money Market Fund may become extremely low and possibly negative. If the daily dividends paid by the underlying Portfolio Company are less than the daily portion of the Separate Account Charges, the Purchase Unit value will decrease. In the case of negative yields, your investment in the Variable Investment Option, which invests in the Goldman Sachs VIT Government Money Market Fund, will lose value.

**Stopping Purchase Payments** 

You may stop Purchase Payments at any time. You may resume Purchase Payments thereafter during the Purchase Period. The value of the Purchase Units will continue to vary, and your

Account Value will continue to be subject to charges. The Account Value will be considered surrendered when you begin the Payout Period. You may not make Purchase Payments during the Payout Period.

If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. We will not assess a surrender charge in this instance. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Principal Underwriter** 

The principal underwriter of the Contracts is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company due to common ownership, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

**Impact of Deduction of Advisory Program Fee on Purchase Payments** 

If you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, and the Advisory Program Fee is deducted from your Contract value, the deduction of such fee will result in reduction of Purchase Units by the amount of the fee.

**Surrenders and Withdrawals**

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**When Surrenders Are Allowed** 

You may withdraw all or part of your Account Value at any time before the Payout Period begins if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under federal and state law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under your employer's plan.

For Purchase Payments that are contributions made under your employer's plan, such as a 401(a) or (k) qualified cash or deferred arrangement or a 403(b) plan, surrenders are subject to the terms of the plan, in accordance with the Code. Qualified plans often require certain conditions to be met before a distribution or withdrawal may take place. See **Surrender Restrictions** below*.* 

For an explanation of charges that may apply if you surrender your Account Value, see the "*Charges and Adjustments*" section in this prospectus*.* Additionally, you may incur a 10% federal tax penalty for partial or total surrenders made before age 59½.

*Delay of payment.* We may be required under applicable law to block a request for a surrender until we receive instructions from the appropriate regulator, due to the USA Patriot Act. In

addition, we may defer making payments from the Fixed Account Options for up to six months, or less, if required by law. If payment is deferred, interest will accrue until the payment is made.

VALIC may be required to suspend or postpone the payment of a withdrawal for more than 7 days when: (1) the NYSE is closed (other than a customary weekend and holiday closings); (2) trading with the NYSE is restricted; (3) an emergency exists such that disposal of or determination of the value of shares of the Variable Investment Options is not reasonably practicable; or (4) the SEC, by order, so permits for the protection of Contract Owners.

**Surrender Process** 

If you are allowed to surrender all or a portion of your Account Value during the Purchase Period as noted above, then you must complete a surrender request form or information required in other approved media, and submit it to the Annuity Service Center. We will mail the surrender value to you within seven calendar days after we receive your request if it is in good order.

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We may be required to suspend or postpone payments if redemption of an underlying Portfolio Company's shares have been suspended or postponed. See the applicable Portfolio Company prospectus for a discussion of the reasons why the redemption of shares may be suspended or postponed*.* 

We may receive a surrender for a Purchase Payment that has not cleared the banking system. We may delay payment of that portion of your surrender value until the check or the electronic funds transfer clears.

**Amount That May Be Surrendered** 

The amount that may be surrendered during the Purchase Period can be determined as follows:

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| | | |
|:---|:---|:---|
| Allowed<br> Surrender<br> Value<br>| **= (equals)** | &nbsp;&nbsp; Your Account Value<sup>(1)</sup> <br>- **(minus)**<br> Any Applicable<br> Surrender Charge<br>|

---

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<sup>(1)</sup>

Equals the Account Value next computed after your properly completed request for surrender is received in the Annuity Service Center.

There is no guarantee that the surrender value in a Variable Investment Option will ever equal or exceed the total amount of your Purchase Payments received by us. The surrender value in a Fixed Account Option will never be less than the Purchase Payments allocated to the Fixed Account Option (less amounts transferred to a Variable Investment Option or withdrawn from the Fixed Account Option).

**Surrender Restrictions** 

Generally, Code section 403(b)(11) permits total or partial distributions from your voluntary contributions to a 403(b) contract only on account of hardship (employee contributions only without accrued interest), attainment of age 59½, separation from service, death or disability. Similar restrictions apply to any amount transferred to a 403(b) contract from a 403(b)(7) custodial account. In addition, beginning for contracts issued on or after January 1, 2009, employer contributions and non-elective contributions to a 403(b) annuity contract are subject to restrictions specified in Treasury regulations as specifically imposed under the employer's plan.

Under the ***Texas State Optional Retirement Program***, no surrender or partial surrender will be allowed except upon attainment of age 70½, retirement or other termination of employment or death.

Under the ***Florida State Optional Retirement Program***, no surrender or partial surrender of Purchase Payments made by the employer will be allowed except upon termination of employment, retirement or death. Benefit payments based on payments from the employer may not be paid in a lump sum or

for a period certain, but must be paid under a life contingency option, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• death benefits; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• certain small amounts approved by the State of Florida.

Under the ***Louisiana Optional Retirement Plan***, retirement benefits must be paid in the form of a lifetime income option.

Single sum surrenders and partial surrenders out of the plan are not permitted, unless they are rollovers to another qualified plan or IRA, except for death benefits.

Other employer-sponsored plans may also impose restrictions on the timing and form of surrenders from the Contract.

**Partial Surrenders** 

You may request a partial surrender of your Account Value at any time during the Purchase Period, subject to any applicable surrender restrictions. A partial surrender plus any surrender charge will reduce your Account Value. You may specify an amount to be taken from each Portfolio Company or the amount will be distributed pro-rata against all Portfolio Companies. If you do not specify, the distribution will be taken pro-rata against the Variable Investment Options and Fixed Account Options.

The reduction in the number of Purchase Units credited to your Variable Investment Option Account Value will equal:

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| | | |
|:---|:---|:---|
| The amount<br> surrendered from the<br> Variable Investment Option<br> + **(plus)**<br> Any surrender charge<br>| &nbsp;&nbsp; ÷<br> **(divided**<br> **by)**<br>| &nbsp;&nbsp; Your Purchase Units<br> next computed after the<br> written request for<br> surrender is received at<br> the Annuity Service Center<br>|

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The surrender value will be reduced by the full quarterly account maintenance charge in the case of a full surrender during a quarter. If your Account Value falls below a certain dollar amount and you do not make a Purchase Payment over a certain period of time, as specified in your Contract, we may close your account and pay the Account Value to you.

**Systematic Withdrawals** 

You may elect to withdraw all or part of your Account Value under a systematic withdrawal method as described in your Contract ("No Charge" systematic withdrawals). There will be no surrender charge for withdrawals using this method, which provides for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments to be made to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment over a stated period of time, but not less than five years; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment of a stated yearly dollar amount or percentage (the amount or percentage may not exceed 20% of your Account Value at the time election is made).

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We may require a minimum withdrawal amount under this method. The portion of your account that has not been withdrawn will continue to receive the investment return of the Variable Investment Options that you selected. You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the funds in which you are invested, including the Multi-Year Option. A market value adjustment may apply to systematic withdrawals unless you choose the Fixed Interest Only payment option. Once begun, a "No Charge" systematic withdrawal election may not be changed, but can be revoked at no charge. If revoked, a "No Charge" systematic withdrawal may not be elected again. Systematic withdrawals that are not "No Charge" systematic withdrawals can be changed, revoked, and/or reinstated. No more than one systematic withdrawal election may be in effect at any one time. We reserve the right to discontinue any or all systematic withdrawals or to change the terms, at any time.

**Distributions Required by Federal Tax Law** 

There will be no surrender charge on RMD's if the withdrawal:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is made payable to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Does not exceed the amount required under federal tax law as determined by the values in your Portfolio Director Contract and VALIC.

You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the

investment options in which you are invested, including the Multi-Year Option. This Contract feature will not be available in any year that an amount has been withdrawn under the "No Charge" systematic withdrawal method. See "*Taxes*" below for more information about required distribution rules*.*

**Cancellation — The "Free Look" Period** 

The Contract Owner of a group Contract (employer) or individual Contract Owner may cancel a Contract by returning it to the Company within 20 days after it is received. (A longer period will be allowed if required under state law.) See *"Appendix C — State Contract Variability."* The free look does not apply to Participant certificates except in a limited number of states. We will allocate Purchase Payments as instructed during the "free look" period. To cancel the Contract, the Contract Owner must send a written request for cancellation and return the Contract to us at the Annuity Service Center before the end of the "Free Look" period. A refund will be made to the Contract Owner within seven days after receipt of the Contract within the required period. Generally, the amount of the refund will be equal to all Purchase Payments received or, if more, the amount required under state law. Additionally, all Contracts issued as an IRA require the full return of Purchase Payments upon a free look. If your Contract was issued either in a state requiring return of Purchase Payments or as an IRA, and you cancel your Contract during the free look period, we return the greater of (1) your Purchase Payments; or (2) the Account Value on the day we receive your request in good order at the Annuity Service Center. The Contract will be void once we issue a refund.

**Loans**

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The Contract offers a tax-free loan provision for tax-qualified contracts, other than IRAs, which gives you access to your money in the Fixed Account Options (subject to a minimum loan amount of $1,000). The availability of loans is subject to federal and state government regulations, as well as your employer's plan provisions and VALIC policy. Generally, one loan per account will be allowed. Under certain, specific circumstances, a maximum of two loans per account may be allowed. VALIC reserves the right to change this limit. We may charge a loan application fee if permitted under state law. Keep in mind that tax laws restrict withdrawals prior to age 59½ and a tax penalty may apply (including on a loan that is not repaid). If you elected an optional Living Benefit, see Appendix B – Living Benefits for limitations on your ability to take loans.

**Interest Charged for a Loan** 

For Contracts not governed by the requirements of ERISA, we charge an effective annual loan interest rate of up to 6%. For

Contracts maintained under a plan subject to the requirements of ERISA, the interest rate we charge on a loan will be based on the Moody's Corporate Bond Yield Average ending two months before the date that the interest rate is determined. The rate is determined each calendar quarter and applies for twelve months for new loans and for outstanding loans whose anniversaries occur in that quarter.

**The Effects of a Loan on Account Value, Payout Payments and the Death Benefit** 

A loan, whether it is repaid or not, has a permanent effect on your Account Value. This effect occurs because the amounts borrowed are removed from your Fixed Account Option(s) and placed in an account outside of your Contract, which earns interest at a fixed rate. If the loan is not fully repaid, upon the beginning of the Payout Period, surrender, or death, then the cash value or the death benefit, as applicable, will be reduced by any foreclosure on the loan or any defaulted amount of the loan.

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**Taxes**

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The Federal income tax treatment of annuity contracts or retirement programs is complex and sometimes uncertain. The discussion below is intended for general informational purposes only and is not intended as tax advice, either general or individualized, nor should be interpreted as providing any predictions or guarantees of a particular tax treatment. This discussion is based upon the Company's understanding of current tax rules and interpretations. Finally, this discussion does not address all Federal income tax consequences of transactions (including consequences of sales to foreign individuals or entities), state or local tax consequences, estate or gift tax consequences, or the impact of foreign tax laws, associated with your Contract.

Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have a retroactive effect as well. As a result, you should consult a tax advisor about the application of tax rules found in the Internal Revenue Code of 1986, as amended ("IRC" or "the Code"), Treasury Regulations, applicable Internal Revenue Service ("IRS") guidance, and any regulatory developments to your individual situation. We do not guarantee the tax status or treatment of your annuity.

Tax rules vary, depending on whether the Contract is offered under your employer-sponsored retirement program or arrangement, an individual retirement account or annuity, or a nonqualified Contract.

The Contracts are used under many types of retirement arrangements, which may include the following:

• IRC section 403(b) annuities for employees of public schools, community colleges, colleges and universities, and other section 501(c)(3) tax-exempt organizations;

• IRC section 401(a), 403(a), and 401(k) qualified plans (including plans for self-employed individuals);

• IRC section 408(b) traditional IRAs;

• IRC section 408A Roth IRAs;

• IRC section 457 deferred compensation plans of governmental and certain tax-exempt employers;

• IRC section 408(k) SEPs and SARSEPs; and

• IRC section 408(p) SIMPLE retirement accounts.

Contracts purchased under these retirement arrangements described above ("Qualified Arrangement") generally are referred to in this prospectus as "Qualified Contracts." Contracts that are not purchased in connection with a Qualified Arrangement generally are referred to in this prospectus as "Non-Qualified Contracts." Note that there are certain types of plans that are referred to as non-qualified, e.g. Non-qualified deferred compensation plans under IRC section 457, that, for purposes of this prospectus, are considered Qualified Arrangements. See below for further details.

**Tax Status of Non-Qualified Contracts** 

**Non-Qualified Contracts** 

Generally, the increases in the value of a Contract are not taxed until a distribution occurs. The taxable portion of the distribution is taxed at ordinary income tax rates. However, this tax deferral is only available if the Contract satisfies certain federal tax rules and requirements, described next. We do not guarantee the tax status or treatment of your Contract. The remainder of the discussion assumes that the Contract will be treated as an annuity contract for federal income tax purposes.

**Late Annuity Start Date** 

If the Contract's annuity start date occurs (or is scheduled to occur) at a time when the Owner has reached an advanced age, it is possible that the Contract would not be treated as an annuity for federal income tax purposes. In that event, the income and gains under the Contract could be currently includable in the Owner's income.

**Diversification** 

For a contract to be treated as a variable annuity for Federal income tax purposes, the underlying investments under the variable annuity must be "adequately diversified". Treasury Regulations provide standards that must be met to comply with the rules. Under the regulations, an investment portfolio will be deemed adequately diversified if (1) no more than 55% of the value of the total assets of the portfolio is represented by any one investment; (2) no more than 70% of the value of the total assets of the portfolio is represented by any two investments; (3) no more than 80% of the value of the total assets of the portfolio is represented by any three investments; and (4) no more than 90% of the value of the total assets of the portfolio is represented by any four investments.

If the variable annuity fails to comply with these diversification standards, you could be required to pay tax currently on the excess of the Contract Value over the contract Purchase Payments. We expect that the manager of the Underlying Funds monitors the Funds to comply with these Treasury Regulations.

**Investor Control** 

Under certain circumstances, you, and not the Company, could be treated as the owner of the assets held in the Separate Account under your Non-Qualified Contract, based on the degree of control you exercise over the underlying investments. If this occurs, you may be currently taxed on income and gains attributable to the assets under the Contract rather than at the time of withdrawal.

There is little guidance in this area, and the determination of whether you possess sufficient incidents of ownership over such assets depends on all of the relevant facts and circumstances.

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However, Revenue Rulings 2003-91 and 2003-92 provide that an annuity owner's ability to choose among general investment strategies either at the time of the initial purchase or thereafter, does not constitute control sufficient to cause the contract holder to be treated as the owner of such assets. The Revenue Rulings provide that if, based on all the facts and circumstances, you do not have direct or indirect control over such assets, then you do not possess sufficient incidents of ownership over the assets supporting the annuity to be deemed the owner of the assets for federal income tax purposes. We do not know what limits may be set by the IRS in any future guidance that it may issue and whether such limits will apply to existing contracts.

While we believe the Contract does not give you investor control over such assets, we reserve the right to modify the Contract as necessary to prevent you from being considered as the owner of the assets of the Contract for purposes of the Code.

**Non-Natural Owners** 

A Trust or Corporation or other Owner that is not a natural person ("Non-Natural Owner") should consult a tax advisor. Generally, the Code does not confer tax-deferred status upon a Non-Qualified Contract owned by a Non-Natural Owner for federal income tax purposes. Instead in such cases, the Non-Natural Owner pays tax each year on the contract's "income on the contract" (as defined in the tax law). However, certain exceptions may apply, such as for contracts held by a trust or other entity as an agent for a natural person or contracts held by certain employer sponsored retirement arrangements. If an exception applies, the entity's general interest deduction under the Code may be limited. Finally, certain non-qualified deferred compensation plans are subject to special tax rules. **Please consult a tax advisor if you are a Non-Natural Owner of a Contract.**

**Tax Treatment of Purchase Payments** 

Purchase Payments paid to a Nonqualified Contract are neither excludible from the gross income of the Contract Owner nor deductible for tax purposes. In general, your cost basis in a Non-Qualified Contract is equal to the Purchase Payments you put into the Contract less any amounts previously received from the Contract that were not includible in income.

**Tax Treatment of Distributions** 

**Partial Withdrawals** 

If you make a partial withdrawal from a Non-Qualified Contract, the IRC generally treats such withdrawals as taxable to the extent your contract value before the withdrawal (determined before the application of any surrender charge) exceeds your cost basis. Partial withdrawals from a Non-Qualified Contract that has Purchase Payments made before August 14, 1982, are

an important exception to this general rule and are treated as first coming from the pre-August 14, 1982 Purchase Payments.

Amounts received under an automatic withdrawal plan are treated as withdrawals and not annuity payments for purposes of calculating taxable income.

**Optional Living Benefits/Other Benefits** 

Generally, we will treat amounts credited to the contract value under the optional Living Benefit guarantees, for income tax purposes, as earnings in the contract. Thus, payments of Living Benefits are treated as taxable withdrawals to the extent there are taxable gains in the contract value. Payments in accordance with such guarantees after the contract value has been reduced to zero may be treated for tax purposes as amounts received as an annuity, if the other requirements for such treatment are satisfied. All payments or withdrawals after cost basis has been reduced to zero, whether or not under such a guarantee, will be treated as taxable amounts. If available and you elect an optional Living Benefit, the application of certain tax rules, including those rules relating to distributions from your contract, are not entirely clear. Such benefits are not intended to adversely affect the tax treatment of distributions or of the contract. However, you should be aware that little guidance is available. **You should consult a tax advisor before electing an optional Living Benefit.** 

**Full Surrenders** 

In the case of a full surrender of a Non-Qualified Contract, the amount received on surrender is taxable to the extent it exceeds the cost basis.

**Collateral Assignments and Gratuitous Transfers** 

If you transfer ownership of your Non-Qualified contract to a person other than your spouse (or former spouse incident to a divorce) you will owe federal income tax on the contract's cash surrender value to the extent it exceeds your cost basis. The transferee's cost basis will be increased to reflect the amount the transferor includes in income.

An assignment or pledge (or agreement to assign or pledge) of any portion of a Non-Qualified Contract will be treated as a withdrawal. If the entire contract value is assigned or pledged, subsequent increases in the contract value are also treated as withdrawals for as long as the assignment or pledge remains in place. The cost basis is increased by the amount included in income with respect to such assignment or pledge.

**Aggregation Rule** 

If you purchase multiple non-qualified annuity contracts from the same insurance company (or its affiliates), within the same calendar year, the IRS generally requires these annuity contracts to be aggregated and treated as a single contract for purposes of

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determining the taxable income associated with any distribution taken from the contracts for tax purposes. For purposes of this rule, contracts received in a Section 1035 exchange will be considered issued in the year of the exchange. (However, the contracts may be treated as issued on the issue date of the contract being exchanged, for certain purposes, including determining whether the contract is an immediate annuity contract.) Aggregation impacts the amount of the distributions described above that is subject to taxation (and potentially subject to the 10% additional tax, if applicable). Owners should seek their own tax advice if you are purchasing more than one annuity from the same insurance company (or its affiliates) in the same calendar year.

**Annuity Payments** 

If you annuitize your Non-Qualified Contract, a portion of each annuity income payment will be considered, for tax purposes, to be a return of a portion of your cost basis. The portion of each annuity income payment that is considered a return of your cost basis will not be taxed. Your annuity income payment will be considered fully taxable after you have received a return of the entire amount of your cost basis.

**Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from a non-qualified annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax if the Owner is under 59½, unless another exception applies. **You should consult your tax advisor regarding these features and benefits prior to purchasing a Contract.** 

Upon death, any remaining amounts in the Contract must be distributed in accordance with the requirements under the Code. For deaths that occur after the Contract's annuity start date, payments under the Annuity Option elected will continue to be paid at least as rapidly as under the method of distribution in effect at such Owner's death. For deaths that occur prior to the Contract's annuity start date, the entire interest in the Contract can be paid in one of the following manner:

(1) Lump sum payment of the death benefit.

(2) Payment of the entire death benefit within five years of the date of any Owner's death.

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(3) Payment of the death benefit over the lifetime of the beneficiary or over a period not extending beyond the life expectancy of the beneficiary. Under this option, distributions must begin within one year of the date of any Owner's death. Note - This option is not available for a beneficiary that is a non-natural person.

(4) Spousal Option Only. The spousal beneficiary can elect to treat the annuity contract as their own.

Special rules apply if the Owner is a non-natural person, where the annuitant is generally treated as the Owner.

**10% Additional Tax** 

The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC);

• when paid as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated Beneficiary;

• under an immediate annuity contract; or

• when attributable to Purchase Payments made prior to August 14, 1982.

Other exceptions may available depending on contract type and your circumstances. **Please consult your tax advisor or** www.irs.gov **for more information.** 

**Net Investment Income Tax** 

There is a 3.8% tax on net investment income for Owners with Modified Adjusted Gross Income ("MAGI") that exceeds certain thresholds based on the type of filer. Further information may be found on www.irs.gov. For this purpose, net investment income generally will include taxable distributions from a Non-Qualified Contract. It is also possible the tax could apply to other taxable amounts relating to your Non-Qualified Contract. **Please consult your tax advisor**. This tax generally does not apply to Qualified Contracts; however, taxable distributions from such contracts may be considered in determining the MAGI threshold.

**Tax Treatment of Exchanges** 

The Non-Qualified Contract may be issued in exchange for all or part of another annuity contract that you own. In addition, the Contract Owner may be permitted to exchange the Contract for a new annuity contract prior to the commencement of annuity income payments. A full or partial exchange of one annuity contract for another is a tax-free transaction under IRC section 1035, provided that the requirements of that section are satisfied. Please note that the exchange may be tax reportable. If

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you exchange part of an existing annuity contract for another annuity contract, and within 180 days of the exchange you receive a distribution other than certain annuity payments, the exchange may not be tax free. **You should consult a tax advisor when exchanging part or all of an annuity contract.** 

**Qualified Contracts** 

Qualified Contracts taxation varies with the type of plan and terms and conditions of each specific plan. You will get no additional tax advantage from this Contract if you are investing through a Qualified Contract beyond the treatment provided to alternative qualifying arrangements such as trusts or custodial accounts. However, in both cases the Contract offers features and benefits that other investments may not offer. You and your financial representative should carefully consider whether the features and benefits, including the investment options, lifetime annuity income options, protection through Living Benefits, death benefits and other benefits provided under an annuity contract issued in connection with a Qualified Contract are suitable for your needs and objectives and are appropriate in light of the expense.

The terms of the plan may limit the rights otherwise available under the Contracts. The Code and, if applicable, your Contract or Qualified Arrangement, may have limitations and restrictions such as: the amount that can be contributed; the form, manner and timing of distributions; vesting and non-forfeitability of interests; nondiscrimination in eligibility and participation; and the tax treatment of distributions, withdrawals and surrenders. Some of these limitations are adjusted annually. **Please see www.IRS.gov or consult your tax advisor.** 

The following are general summary descriptions of the types of Qualified Arrangements with which the Qualified Contracts may be used. Not all plan types will be available under your Contract. Descriptions of such arrangements are not exhaustive and are for general information purposes only. The tax rules regarding Qualified Arrangements are very complex and will have differing applications depending on individual facts and circumstances. **Each prospective purchaser should obtain competent tax advice prior to purchasing a contract issued under a qualified plan.** 

***Plans of Self-Employed Individuals: "H.R. 10 Plans"*** 

***Pension and Profit Sharing Plans 401(a)/401(k)*** 

***Tax-Sheltered Annuity (403(b))*** 

In general, certain Contracts originally established by a IRS Revenue Ruling 90-24 transfer prior to September 25, 2007 are exempt (or grandfathered) from some of the requirements of the regulations; provided that no salary reduction or other contributions have ever been made to the Contract, and that no additional transfers are made to the Contract on or after September 24, 2007.

***SIMPLE IRA*** 

Employers with 100 or fewer employees can maintain a SIMPLE IRA plan. Employer and employee contributions under a SIMPLE IRA Plan are made to a separate SIMPLE IRA for each employee. Employer contributions must be in the form of matching contribution or a nonelective contribution of a percentage of compensation as specified in the Code. The employee is always 100% vested in (or, has ownership of) all SIMPLE IRA money.

***Traditional Individual Retirement Annuities (IRA), SEP IRA, or Roth IRA*** 

The IRA Disclosure Statement, ROTH IRA Disclosure Statement, or Traditional, SEP, and Roth Individual Retirement Annuity (IRA) Combined Disclosure Statement which was received at the time of original issue of your IRA, SEP IRA or Roth IRA contains information about eligibility, contribution limits, distribution restrictions and other tax information. For further information about contributions and distributions from your IRA, please see Publications 590-A and 590-B on the IRS website at www.irs.gov.

***Traditional Individual Retirement Annuities*** 

Section 408(b) of the Code permits eligible individuals to contribute to an individual retirement program known as a traditional IRA. Under applicable limitations, certain amounts (adjusted annually) may be contributed to an IRA. Such contributions may be deductible, depending on your modified gross income.

***Roth IRAs*** 

Section 408A of the Code permits an individual to contribute to an individual retirement account called a Roth IRA. Contributions to a Roth IRA are not deductible, but distributions are tax-free if certain requirements are satisfied. Unlike traditional IRAs, to which everyone can contribute even if they cannot deduct the full contribution, Roth IRAs have income limitations on who can make regular cash contributions.

***Simplified Employee Pension Plan ("SEP") IRA*** 

Sole proprietors, partnerships, and corporations, including S corporations, can set up SEPs. Employer contributions under a SEP are made to a separate IRAs established for each participating employee, and generally must be made at a rate representing a uniform percent of participating employees' compensation. Through 1996, employees of certain small employers (other than tax-exempt organizations) were permitted to establish plans allowing employees to contribute pretax, on a salary reduction basis, to the SEP (known as SARSEPs).

***Deferred Compensation Plans — Section 457*** 

A unit of a state or local government may establish a deferred compensation program for individuals who perform services for the government unit if permitted by applicable state (and/or local) laws. In addition, a non-governmental tax-exempt employer may establish a deferred compensation program for individuals who: (i) perform services for the employer, and

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(ii) belong to either a select group of management or highly compensated employees or, if provided under the deferred compensation arrangement, independent contractors.

The employer uses deferred amounts to purchase the Contracts offered by this prospectus. For plans maintained by a unit of a state or local government, the Contract is generally held for the exclusive benefit of plan Participants. For plans of non-governmental tax-exempt employers, the employee has no present ownership rights in the Contract and is entitled to payment only in accordance with the eligible deferred compensation plan (an "EDCP") provisions and, where applicable, any trust under which the Contract may be held. Non-governmental 457 plan assets must remain assets of the employer and are subject to claims by the creditors of the employer.

Under these plans, contributions made for the benefit of the employees will not be includible in the employees' gross income until distributed from, or if a non-governmental tax-exempt employer, otherwise made available to the recipient.

**Tax Treatment of Purchase Payments** 

For employer-sponsored arrangements, Purchase Payments under Qualified Contracts can be made as contributions by employers or as pre-tax or after-tax contributions by employees, depending on the type of retirement program. For IRAs, Purchase Payments also can be made as a pre-tax or after-tax contribution. If you make contributions on a pre-tax basis, then you have no cost basis in your Contract. However, you normally will have cost basis in a Roth IRA, a designated Roth account in a 403(b), 401(k), or governmental 457(b) plan, and you may have cost basis in a non-deductible traditional IRA or in another Qualified Contract.

Limitations and restrictions may apply to Purchase Payments. **Please refer to www.IRS.gov for further information, as these limitations and restrictions may be based on several factors.** 

**Various penalty and excise taxes may apply to contributions made in violation of applicable contribution limits. You should consult a qualified tax advisor associated with any questions related to the contribution to or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

**Tax Treatment of Distributions** 

Distributions from Qualified Contracts, other than IRAs and Roth IRAs, are often limited by the IRC and by the terms of the employer-sponsored retirement plan. In some cases, distributions are not available unless there has been a distributable event as defined by the terms of the plan. All distributions are tax at ordinary income tax rates. Various penalty taxes may apply to distributions made in violation of applicable requirements. Furthermore, certain contractual withdrawal penalties and restrictions may apply to surrenders from Qualified Contracts. **You should consult a qualified tax** 

**advisor associated with any questions related to the distribution or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

***Non-Roth Qualified Contracts****.* Distributions from Qualified Contracts other than Roth IRAs and designated Roth accounts (described below) are taxable, except to the extent allocable to after-tax contributions or non-deductible traditional IRA contributions.

***Roth IRAs and Designated Roth Accounts.*** "Qualified" distributions from Roth IRAs and Designated Roth Accounts upon attainment of age 59½, upon death or disability, or for qualifying first-time homebuyer expenses (Roth IRAs only) are tax-free as long as five or more years have passed since the first contribution to the taxpayer's first Roth IRA or Designated Roth Account. Qualified distributions may be subject to state income tax in some states. Special tax rules will apply to distributions that are not qualified and such distributions are generally subject to the same 10% additional tax on amounts included in income as for other IRAs. Distributions of rollover or conversion contributions may be subject to a 10% additional tax if the distribution of those contributions is made within five years of the rollover or conversion.

***Designated Roth and Roth IRA Conversions.*** All persons may be eligible to convert a distribution from an employer-sponsored plan or from a traditional IRA into a Roth IRA. Conversions from qualified contracts into Roth IRAs normally require taxes to be paid in the year of the conversion on any previously untaxed amounts included in the amount converted. The taxable value of such a conversion may consider the value of certain benefits under the Contract.

***457 Plans.*** Amounts received from an EDCP are includible in gross income for the taxable year in which they are paid or, if a non-governmental tax-exempt employer, otherwise made available to the recipient.

***Annuitization****.* If you annuitize your Qualified Contract, special tax rules apply to determine the taxable amount of your annuity income payment depending on your Qualified Arrangement. **Please consult your tax advisor.** 

***10% Additional Tax.* You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any.** The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner of a Qualified Contract reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC); and

• as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint expectancies) of you and your designated Beneficiary.

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Other exceptions may be applicable under certain circumstances. In addition, you may be able to repay certain distributions if certain requirements are satisfied. Distributions from a SIMPLE IRA within two years after first participating in the Plan may be subject to a 25% additional tax, rather than a 10% additional tax.

**Direct and Indirect Rollovers** 

A rollover distribution, including eligible rollover distributions as defined below, from an IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan may generally be rolled over into another IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan, if permitted by the plan.

An eligible rollover distribution is the taxable portion of any amount received by a covered employee from a retirement plan qualified under Sections 401(a) or 403(a) or, if from a plan of a governmental employer, under Section 457(b) of the Code, or from a tax-sheltered annuity qualified under Section 403(b) of the Code. Generally, certain types of distributions are not considered eligible rollover distributions, such as distributions received on account of:

a)

a required minimum distribution,

b)

a hardship withdrawal, or

c)

a series of substantially equal payments (at least annually) made over your life expectancy or the joint life expectancies of you and your designated Beneficiary, or a distribution made for a specified period of 10 years or more.

A rollover distribution (including an eligible rollover distribution) may be transferred as a direct or indirect rollover. In a direct rollover, the funds are directly transferred from one Qualified Arrangement to another. In an indirect rollover, the individual receives a distribution from the Qualified Arrangement and reinvests it in another Qualified Arrangement within 60 days of the distribution. For indirect rollovers, you must include in your income for the year the taxable amount of any portion of the distribution that you do not roll over. An indirect rollover of an eligible rollover distribution will be subject to a mandatory 20% withholding tax (described below).

Individuals are only permitted to make one indirect rollover from an IRA to another IRA in any one-year period. It is important to note that the one rollover per year limitation does not apply to amounts taken as an eligible rollover distribution from an employer sponsored retirement arrangement or from amounts transferred directly between IRAs in a trustee-to-trustee transfer.

Funds may generally be rolled over tax-free from a SIMPLE IRA to another IRA. However, during the two-year period beginning on the date you first participate in any SIMPLE IRA plan of your employer, SIMPLE IRA funds may only be rolled to another SIMPLE IRA.

**You should always consult your tax advisor before you move or attempt to move any funds.** 

**Tax Treatment of Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from an annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax described above if the Owner is under 59½, unless another exception applies. The IRS may consider these benefits "incidental death benefits" or "life insurance." **You should consult your tax advisor regarding these features and benefits prior to purchasing a Qualified Contract.** See below for required distributions after the death of the owner.

**Required Minimum Distributions** 

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your Qualified Arrangement each year after your required beginning date. The RMD rules do not apply to Roth IRAs or designated Roth accounts when the Owner is alive.

Failure to satisfy the minimum distribution requirements may result in an excise tax. A 25% excise tax may be assessed on any RMD that is required but not taken timely. However, if the late RMD is taken within a two-year period, the penalty may be reduced to 10% if certain conditions are satisfied. **You should consult your tax advisor for more information.** 

**Required Beginning Date** 

Generally, the IRC requires that you begin taking annual distributions from Qualified Contracts by December 31 of the calendar year in which you attain the "applicable age":

• Age 75 if you were born January 1, 1960 or later.

• Age 73 if you were born on or after January 1, 1951, and before January 1, 1960.

• Age 72 if you were born on or after July 1, 1949, and before January 1, 1951.

• Age 70 ½ if you were born before July 1, 1949.

For employer sponsored retirement plans, you must begin distributions on the later of (1) reaching the applicable age, or (2) the calendar year in which you sever employment from the employer sponsoring the plan.

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You may choose to delay your first distribution until April 1 of the calendar year following in which you reach the applicable age or sever employment, as applicable. However, if you choose to delay your first distribution, you will be required to withdraw your second RMD on or before December 31 in that same year. For each year thereafter, you must withdraw your RMD by December 31.

For 403(b) contracts, amounts accumulated under a Contract on December 31, 1986, may be subject to special distribution rules.

**Combining Distributions from Multiple Qualified Contracts** 

If you own more than one IRA, you may be permitted to take your RMD in any combination from your IRAs. A similar rule applies if you own more than one 403(b) account, unless the Plan, Contract, or account otherwise provides. However, you cannot satisfy this distribution requirement for your IRA contract by taking a distribution from a 403(b) account, and you cannot satisfy the requirement for your 403(b) account by taking a distribution from an IRA.

**Automatic Withdrawal Option** 

If available, you may elect to have the RMD amount for your Contract calculated and withdrawn each year under the automatic withdrawal option. You may select monthly, quarterly, semiannual, or annual withdrawals for this purpose. This service is provided as a courtesy, and we do not guarantee the accuracy of our calculations.

**Impact of Optional Benefits** 

The annuity contract value used to determine RMDs includes the actuarial present value of other benefits under the Qualified Contract, such as enhanced death benefits and/or Living Benefits. However, please note that not all Contracts have enhanced death benefits and/or Living Benefits. As a result, if you request a minimum distribution calculation, or if one is otherwise required to be provided, in those specific circumstances where this requirement applies, the calculation may be based upon a value that is greater than your contract value, resulting in a larger RMD. This does not apply to RMDs made under an irrevocable annuity income option.

If you have purchased the IncomeLOCK or IncomeLOCK Plus benefit option, the calculation of the RMD may include the value of the IncomeLOCK or IncomeLOCK Plus and may increase the amount of the RMD. IncomeLock and IncomeLock Plus benefit options are no longer available for purchase.

**We recommend you consult your tax advisor concerning your required minimum distribution.** 

**Required After Death Distributions** 

Upon death, any remaining amounts in the Qualified Contract must be distributed in accordance with the requirements under the IRC. The timing of these distributions will depend on whether the death occurs before the owner was required to take RMDs, the type of Beneficiary, and the beneficiary's relationship to the deceased owner. The information provided below applies to Owners who die after 2019 (after 2021 for certain governmental and collectively bargained retirement plans). **For Owners' deaths prior to such dates, individuals should consult a tax advisor regarding the applicable after-death distribution requirements**.

Eligible designated Beneficiaries ("EDB") are generally a natural person designated as beneficiary ("designated beneficiaries") who are also:

• the surviving spouse of the owner;

• a minor child of the owner;

• a qualifying disabled or chronically ill beneficiary; or

• an individual who is not more than ten years younger than the owner.

If the Beneficiary is an EDB, , the entire amount in the Contract generally must be paid to the EDB:

• if the owner had not reached their required beginning date for RMDs

• within 10 years after the owner's death, or

• by December 31st of the year following the year of death and be paid over the lifetime or single life expectancy of the EDB; or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

Exceptions to this rule may apply in the case of an EDB who is also the owner's spouse or minor child.

If a Beneficiary is a designated beneficiary, the entire amount in the Contract must be distributed either:

• if the owner had not reached their required beginning date for RMDs, within 10 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

If the Beneficiary is not a designated beneficiary or an EDB, the Beneficiary must receive the entire amount in the Contract:

• if the owner had not reached their required beginning date for RMDs, within 5 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner.

Additional rules, requirements, and exceptions may apply. **Please consult a tax advisor.** 

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**Gifts, Pledges, Assignments of and/or Loans from a Qualified Contract** 

Qualified Contracts are prohibited from being transferred, assigned or pledged as security for a loan. This generally does not apply to loans under an employer-sponsored retirement plan (including loans from the annuity contract) that satisfy certain requirements, provided that the plan is not an unfunded deferred compensation plan. Another exception to this rule includes an assignment pursuant to a domestic relations order meeting the requirements of the plan or arrangement under which the contract is issued (for many plans, a Qualified Domestic Relations Order, or QDRO), or, in the case of an IRA, pursuant to a decree of divorce or separation maintenance or a written instrument incident to such decree.

For certain qualified arrangements, a default of a loan may be considered a taxable distribution and may be subject to a 10% additional tax if the distribution occurred prior to your attainment of age 59.5 unless an exception applies. Please see the terms of your loan for specifics regarding your loan and the tax impact of defaults.

**You should consult a tax advisor as to the availability of these and any other exceptions.** 

**Tax Withholding and Reporting** 

Taxable amounts distributed from annuity contracts are subject to federal and state income tax reporting and withholding. In general, we will withhold federal income tax from the taxable portion of such distribution based on the type of distribution and, in certain cases, the amount of your distribution. An election out of federal withholding must be made in accordance with the IRS guidance as directed on forms that we provide. If an election out of withholding or election of another amount is not made, withholding is imposed (1) for periodic payments, at the rate that would be imposed if the payments were wages, and the payee was single with no adjustments, or (2) for other distributions, at the rate of 10%. If you are a U.S. person (which includes a resident alien), and your address of record is a non-U.S. address, we are required to withhold income tax unless payments are directed to your U.S. residential address. We are also required to withhold if you do not provide a valid TIN.

State income tax withholding rules vary, and we will withhold based on the rules of your state of residence. Your state may require any election associated with withholding to be undertaken on the state's prescribed form.

Special tax rules apply to withholding for non-United States persons, and we generally withhold income tax for such non-United States persons at a rate of 30% of the taxable amount. A different withholding rate may be applicable to a non-United States person based on the terms of an existing income tax treaty between the United States and the non-United States person's country. To qualify for any reduced withholding, the non-United States person must provide applicable certifications under Form W-8 BEN-E, Form W-8IMY, or other applicable form.

Any Form W-8, including the Form W-8 BEN-E and Form W-8IMY, is only effective for three years from date of signature unless a change in circumstances makes any information on the form incorrect. You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any. Note, any payments made to a foreign entity, where such entity fails to provide the applicable certifications, may result in a 30% withholding on certain gross payments, which could include distributions from annuity contracts.

Any income tax withheld is a credit against your income tax liability. Regardless of the amount withheld by us, you are liable for payment of federal and state income tax on the taxable portion of annuity distributions. You should consult with your tax advisor regarding the payment of the correct amount of these income taxes and potential liability if you fail to pay such taxes.

**20% Federal Income Tax Withholding on Eligible Rollover Distributions** 

For certain qualified employer sponsored plans, we are required to withhold 20% of the taxable portion of your withdrawal that constitutes an eligible rollover distribution for Federal income taxes. This requirement is mandatory and cannot be waived by the owner. You may avoid withholding if you do a direct rollover between Qualified Arrangements.

**Generation Skipping Transfer Tax Withholding** 

Under certain circumstances, the IRC may impose generation skipping transfer tax when all or a part of an annuity contract is transferred (including a death benefit paid) to an individual two or more generations younger than the owner. The Company may be required to undertake withholding associated with such a transaction. **Contract Owners should consult a tax advisor with any questions.** 

***Advisory Fees*** 

**Non-Qualified Contracts** 

The IRS has issued a private letter ruling (PLR) to the Company recognizing the ability, in specific circumstances, to not treat the payment of investment advisory fees to an investment advisor from Non-Qualified Contracts as a taxable withdrawal from the Contracts. ***Only the Company can rely on the PLR from the IRS.*** 

Under the terms of the Company's PLR, the Advisory Agreement with the Investment Advisor must provide that the Investment Advisor will help you select investment options for the Contract. Advisory Program Fees for such services must not exceed an annual rate of 1.50% of the Contract's cash value for the period to which the Advisory Program Fees relate. The Contract owner is solely liable for the fees. The Advisory Program Fees may not constitute compensation to the Advisor for services related to any assets other than the Contract. The Advisory Program Fees

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are an expense of the Contract and not a distribution to you as the owner. Any payment of advisory fees inconsistent which such requirements may be treated as withdrawals for tax purposes by the Company and/or by the IRS. Notwithstanding the tax treatment of Advisory Program Fees by the Company, federal and/or state taxing authorities could determine that such fees should be treated as taxable withdrawals. In such circumstances any fees prior to your attainment of age 59½ could also result in a 10% additional tax.

The Company only administers the terms of the PLR for the GPS and GPA Advisory Programs, which are offered through VFA, our affiliate. Accordingly, the description above only applies to such programs. This means if you participate in a third-party Advisory Program and VFA is not your Investment Advisor, partial withdrawals, including Investment Advisor fees, taken from a Non-Qualified Contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution.

**Qualified Contracts** 

The IRS has issued multiple private letter rulings recognizing the ability, in specific circumstances, to treat the payment of investment advisory fees to an investment advisor out of

Qualified contracts as non-taxable withdrawals from the contracts. The restrictions for Qualified Contracts are similar to those outlined for Non-Qualified.

***Civil Unions and Domestic Partnerships*** 

Parties to a state civil union or domestic partnership are not treated as married under federal law. Accordingly, certain transactions (such as a change of ownership or spousal continuation) may be taxable to those persons. Contract Owners should consult a tax advisor with any questions.

***Our Taxes*** 

The Company is taxed as a life insurance company under the Code. For federal income tax purposes, the Separate Account is not a separate entity from the Company and its operations form a part of the Company. We are entitled to certain tax benefits related to the investment of company assets, including assets of the Separate Account, which may include foreign tax credits and the corporate dividends received deduction. These potential benefits are not passed back to you, since we are the owner of the assets from which tax benefits may be de

**Legal Proceedings**

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There are no material pending legal proceedings affecting the Separate Account, the Company, or the principal underwriter. Various federal, state or other regulatory agencies may from time to time review, examine or inquire into the operations, practices and procedures of the Company, such as through financial examinations, subpoenas, investigations, market conduct exams or other regulatory inquiries. Based on the current status of pending regulatory examinations, investigations and inquiries involving the Company, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to

perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

Various lawsuits against the Company have arisen in the ordinary course of business. As of the date of this prospectus, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

**Financial Statements**

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Information about the financial statements of the Company and the Separate Account and American Home (if applicable to you) are included in the SAI. Instructions for obtaining the SAI can be

found on the back cover of this prospectus. We encourage both existing and prospective contract owners to read and understand the financial statements.

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**Appendix A — Investment Options Available Under the Contract**

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**If your Contract is through certain employer-sponsored qualified retirement plans, the availability of certain Portfolio Companies can vary based on your employer. Refer to your employer's retirement program documents for a list of the employer-selected Portfolio Companies available in your Contract and any limitations on the number of Portfolio Companies you may choose. All Portfolio Companies may not be available for all plans or Contracts.** 

The following is a list of Portfolio Companies available under the Contract. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at www.corebridgefinancial.com/rs/prospectus-and-reports/annuities. You can also request this information at no cost by calling 1-800-448-2542. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies. See "Investment Restrictions for Optional Living Benefits" in this appendix.

The current expenses and performance information below reflect fees and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company's past performance is not necessarily an indication of future performance.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; American Beacon Man Large Cap<br> Growth Fund<sup>3, 5</sup> – Investor Class<br> *Adviser: American Beacon Advisors, Inc.*<br> *Sub-Adviser: Numeric Investors LLC*<br>| 1.12% |  | 1.12% | 15.86% | 11.19% | 15.61%\* |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Capital Appreciation Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Columbia Management Investment Advisers, LLC*<br>| 0.73% |  | 0.73% | 14.19% | 14.69% | 15.33% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Dividend Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock Investment Management, LLC and* <br> *ClearBridge Investments, LLC*<br>| 0.67% |  | 0.67% | 18.21% | 11.55% | 10.40% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock*<br>| 0.61% |  | 0.61% | 14.57% | 11.57% | 15.67% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Large Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM and T. Rowe Price Company*<br>| 0.66% |  | 0.66% | 9.81% | 10.02% | 14.27% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Nasdaq-100<sup>®</sup> Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.42% |  | 0.42% | 20.42% | 14.73% | 19.06% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Stock Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.23% |  | 0.23% | 17.55% | 14.08% | 14.46% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Core Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Goldman Sachs*<br>| 0.64% |  | 0.64% | 14.77% | 12.45% | 13.89% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs Asset Management, L.P. and* <br> *Wellington Management Company LLP*<br>| 0.64% |  | 0.64% | 17.66% | 10.29% | 14.83% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.65% |  | 0.65% | 17.41% | 13.25% | 10.31% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; U.S. Socially Responsible Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 14.73% | 11.77% | 12.91% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Vanguard Windsor II Fund<sup>3</sup> – Investor Shares<br> *Advisers: Aristotle Capital Management, LLC; Hotchkis and Wiley* <br> *Capital Management, LLC; Lazard Asset Management LLC; and* <br> *Sanders Capital, LLC*<br>| 0.33% | 0.25% | 0.58% | 18.56% | 12.89% | 12.61% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Appreciation Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel Investments, LLC*<br>| 1.15% |  | 1.15% | 11.11% | 7.57% | 7.95% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Strategic Growth Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Janus Henderson Investors US LLC and Voya* <br> *Investment Management Co. LLC*<br>| 0.74% |  | 0.74% | 11.34% | 7.88% | 13.56% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Value Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Boston Partners Global Investors, Inc. d/b/a* <br> *Boston Partners and Wellington Management*<br>| 0.83% |  | 0.83% | 7.23% | 10.19% | 9.29% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Index Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 6.95% | 8.68% | 10.34% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel*<br>| 1.01% |  | 1.01% | 14.15% | 9.36% | 9.51% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: American Century Investment Management, Inc.* <br> *and T. Rowe Price Associates, Inc.*<br>| 0.88% |  | 0.88% | 9.20% | -2.35% | 11.01% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.38% |  | 0.38% | 12.23% | 5.69% | 9.27% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Invesco Advisers, Inc.*<br>| 0.93% |  | 0.93% | -3.03% | 6.57% | 8.39% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.84% |  | 0.84% | 12.16% | 9.55% | 8.54% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; Global Strategy Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Franklin Advisers, Inc. and Brandywine Global* <br> *Investment Management LLC*<br>| 0.63% |  | 0.63% | 20.73% | 7.18% | 5.85% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; International Socially Responsible Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.55% |  | 0.55% | 27.32% | 7.80% | 9.10% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; Emerging Economies Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 1.02% |  | 1.02% | 30.11% | 4.19% | 8.04% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Equities Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.39% |  | 0.39% | 30.81% | 8.47% | 7.82% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Morgan Stanley Investment Management Co.*<br>| 0.82% |  | 0.82% | 16.07% | 1.86% | 8.33% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Opportunities Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Invesco Advisers, Inc. and Wellington* <br> *Management*<br>| 1.01% |  | 1.01% | 27.46% | 2.74% | 6.76% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs and Columbia Management* <br> *Investment Advisers, LLC*<br>| 0.81% |  | 0.81% | 39.97% | 10.60% | 8.10% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Specialty**<br> &nbsp;&nbsp; Global Real Estate Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Duff & Phelps Investment Management Co. and* <br> *MFS*<br>| 0.90% |  | 0.90% | 7.70% | 1.77% | 3.39% |
| **Specialty**<br> &nbsp;&nbsp; Invesco Balanced-Risk Commodity Strategy Fund<sup>3, 5</sup> – Class R5<br> *Adviser: Invesco Advisers, Inc.*<br>| 1.05% |  | 1.05% | 18.94% | 9.41% | 6.23% |
| **Specialty**<br> &nbsp;&nbsp; Science & Technology Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock, Voya*<br>| 0.91% |  | 0.91% | 22.57% | 11.59% | 18.92% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 16.94% | 8.73% | 9.38% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Asset Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.65% |  | 0.65% | 11.50% | 8.17% | 7.75% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Conservative Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.59% |  | 0.59% | 11.79% | 4.34% | 5.85% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Dynamic Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: AllianceBernstein L.P.*<br>| 0.83% |  | 0.83% | 11.33% | 5.60% | 7.49% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Moderate Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 14.40% | 7.01% | 8.10% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2015 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.74% |  | 0.74% | 11.83% | 5.05% | 6.89% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2020 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.76% |  | 0.76% | 12.23% | 5.34% | 7.42% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2025 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.78% |  | 0.78% | 12.71% | 5.76% | 8.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2030 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.80% |  | 0.80% | 14.10% | 6.51% | 8.77% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2035 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.83% |  | 0.83% | 15.84% | 7.42% | 9.50% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2040 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.84% |  | 0.84% | 17.16% | 8.17% | 10.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2045 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.85% |  | 0.85% | 18.23% | 8.77% | 10.55% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2050 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.87% |  | 0.87% | 18.53% | 8.95% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2055 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.88% |  | 0.88% | 18.70% | 8.97% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2060 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.89% |  | 0.89% | 18.63% | 8.96% | 10.62% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Conservative Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: The Vanguard Group, Inc.*<br>| 0.10% | 0.25% | 0.35% | 12.86% | 4.24% | 6.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Growth Fund<sup>3, 4</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 19.63% | 8.76% | 10.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Moderate Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 16.24% | 6.49% | 8.09% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard Wellington Fund<sup>3</sup> – Investor Shares<br> *Adviser: Wellington Management*<br>| 0.25% | 0.25% | 0.50% | 16.48% | 9.28% | 10.02% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Fixed Income**<br> &nbsp;&nbsp; Core Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: PineBridge Investments LLC and JPMIM*<br>| 0.48% |  | 0.48% | 7.64% | -0.16% | 2.36% |
| **Fixed Income**<br> &nbsp;&nbsp; Goldman Sachs VIT Government Money Market Fund<sup>5</sup> – <br> Institutional Shares<br> *Adviser: Goldman Sachs*<br>| 0.18% |  | 0.18% | 4.20% | 3.18% | 2.11% |
| **Fixed Income**<br> &nbsp;&nbsp; Government Securities Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.58% |  | 0.58% | 6.66% | -0.49% | 1.41% |
| **Fixed Income**<br> &nbsp;&nbsp; High Yield Bond Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.68% |  | 0.68% | 9.37% | 4.20% | 5.92% |
| **Fixed Income**<br> &nbsp;&nbsp; Inflation Protected Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.54% |  | 0.54% | 6.00% | 1.06% | 2.86% |
| **Fixed Income**<br> &nbsp;&nbsp; International Government Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: PineBridge*<br>| 0.80% |  | 0.80% | 9.15% | -2.01% | 1.64% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Investment-Grade Fund<sup>3</sup> – Investor Shares<br> *Advisers: Wellington Management and Vanguard*<br>| 0.21% |  | 0.21% | 7.18% | -3.74% | 2.68% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Treasury Fund<sup>3</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.20% |  | 0.20% | 5.54% | -7.30% | -0.04% |

---

\* Average Annual Total Returns is since inception of the Portfolio Company.

<sup>1</sup> The following adviser/sub-adviser abbreviations are used in this table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allspring – Allspring Global Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ariel – Ariel Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BlackRock – BlackRock Investment Management, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Goldman Sachs – Goldman Sachs Asset Management, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco – Invesco Advisers, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• JPMIM – J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MFS – Massachusetts Financial Services Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MSIM – Morgan Stanley Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PineBridge – PineBridge Investments LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price – T. Rowe Price Associates, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• VALIC – The Variable Annuity Life Insurance Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard – The Vanguard Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Voya – Voya Investment Management Co. LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wellington Management – Wellington Management Company LLP

<sup>2</sup> A VALIC Company I Fund.

<sup>3</sup> A Public Fund. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans ("Public Funds") will not be available within your Contract.

<sup>4</sup> The Vanguard LifeStrategy Funds' board of trustees allocates each Fund's assets among the underlying funds based on the Fund's investment objective and policies. The board may change these allocations from time to time without shareholder approval. The investment adviser to the underlying funds is Vanguard.

<sup>5</sup> This Portfolio Company is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Portfolio Company prospectus for additional information.

<sup>6</sup> A Platform Charge may only be increased to the extent that the Base Contract Expense plus the Platform Charge does not exceed 1.05%.

**Investment Restrictions For Optional Living Benefits** 

If you elected an optional Living Benefit, as long as your Living Benefit remains in effect, we require that you allocate your investments in accordance with the investment restrictions applicable to that benefit, as described below. Please see "Appendix B – Living Benefits" for additional information about investment restrictions.

For all optional Living Benefits, investments are not permitted in the following:

0-4

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| |
|:---|
| Multi-Year Fixed Option – 3 years |
| Multi-Year Fixed Option – 5 years |
| Multi-Year Fixed Option – 7 years |
| Multi-Year Fixed Option – 10 years |

---

**IncomeLOCK +6 and IncomeLOCK +8** 

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

*If you elected IncomeLOCK +6 (Custom Allocation) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Capi Core Fund Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) or IncomeLOCK +8 on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

*If you elected IncomeLOCK +6 (Custom Allocation) on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

0-6

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund\*\*\*<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account. <br>\*\*\* For Living Benefits with an Endorsement Date prior to November 1, 2011, the Emerging Economies Fund (formerly Global Equities Fund) is in Group B. For Living Benefits with an Endorsement Date on or after November 1, 2011, the Emerging Economies Fund is in Group C.

*If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to December 26, 2012, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate a certain percentage of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit before May 1, 2012, this percentage is 15%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit after May 1, 2012, this percentage is 20%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\*If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

**IncomeLOCK** 

*If you elected IncomeLOCK on or after July 6, 2010, your Contract is subject to the following investment restrictions while your benefit remains in effect.* 

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 20% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

---

0-8

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

If you elected IncomeLOCK prior to July 6, 2010, your Contract is not subject to investment restrictions while your benefit remains in effect.

**Fixed Account Options**

The following is a list of Fixed Account Options currently available under the Contract. We may change the features of the Fixed Account Options listed below, offer new Fixed Account Options, and terminate existing Fixed Account Options. We will provide you with written notice before doing so.

**Note: If amounts are withdrawn from a Fixed Account Option before the end of its term, we may apply a Contract Adjustment. This may result in a significant reduction in your Contract value.** 

---

| | | |
|:---|:---|:---|
| **Name** | **Term** | **Minimum Guaranteed Interest Rate** |
| Fixed Account Plus | 1-Year | 1% |
| Short-Term Fixed | 1-Year | 1% |
| Multi-Year Enhanced Option (MVA) | 3-Year, 5-Year, 7-Year, 10-Year | 1% |
| DCA Fixed Account | 6-Month, 12-Month | 1% |

---

0-9

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**Appendix B — Living Benefits**

------

This Appendix provides information on IncomeLOCK +6, IncomeLOCK +8 (together, "IncomeLOCK Plus") and IncomeLOCK all of which are no longer available for purchase. Effective July 2, 2012, IncomeLOCK is no longer available for purchase. Effective January 1, 2017, IncomeLOCK +6 is no longer available for purchase. Effective February 25, 2013, IncomeLOCK +8 was no longer available for purchase. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

An optional Living Benefit is designed to help you create a guaranteed income stream for as long as you live, or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if the entire Account Value has been reduced to zero, provided withdrawals taken are within the parameters of the applicable feature. A Living Benefit may offer protection in the event your Account Value declines due to unfavorable investment performance, certain withdrawal activity, if you live longer than expected or any combination of these factors. If you decide not to take withdrawals under these features, or you surrender your Contract, you will not receive the guarantees of the Living Benefit. You could pay for this feature and not need to use it. Likewise, depending on your Contract's market performance, you may never need to rely on the protections provided by a Living Benefit. If you elected IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect.

**Table of Contents** 

---

| | |
|:---|:---|
| **Living Benefit Defined Terms** | **B-1** |
| **IncomeLOCK Plus** | **B-2** |
| Fee Table | B-2 |
| IncomeLOCK Plus Fee Formula | B-2 |
| IncomeLOCK Plus Features | B-3 |
| IncomeLOCK Plus Options | B-4 |
| Withdrawals under the Living Benefits | B-8 |
| Death Benefits under IncomeLOCK Plus | B-9 |
| **IncomeLOCK Plus Endorsements Issued Prior to** <br> **February 25, 2013**<br>| **B-10** |
| Fee Tables | B-10 |
| IncomeLOCK Plus Features | B-10 |
| IncomeLOCK Plus Options | B-13 |
| Surrender of Account Value | B-14 |
| Loans | B-14 |
| **IncomeLOCK** | **B-14** |
| Extension Offer | B-14 |
| Fee Table | B-15 |
| IncomeLOCK Features | B-15 |
| Surrender of Account Value | B-17 |
| Death Benefits | B-19 |
| Loans | B-19 |
| Examples | B-<u>19</u> |

---

**<u>Living Benefit Defined Terms</u>** 

**Anniversary Value** — The Account Value minus any Ineligible Purchase Payments as measured on each Benefit Anniversary.

**Benefit Anniversary** — the first day of each Benefit Year.

**Benefit Base** — a component of the calculation of the Living Benefit, which is used to determine the Living Benefit fee, the MAWA and the Protected Income Payment.

**Benefit Quarter Anniversary** — is the first Business Day following each consecutive three month period starting on the Endorsement Date.

**Benefit Year** — each consecutive one year period starting on the Endorsement Date and each Benefit Anniversary, and ending on the day before the next Benefit Anniversary.

**Covered Person(s)** — the person or persons whose life or lives are used to determine the amount and duration of withdrawals under IncomeLOCK Plus. The Covered Persons are selected at the time IncomeLOCK Plus is elected and cannot be changed after the Endorsement Date. Only your life is used to determine the amount and duration of withdrawals for IncomeLOCK.

**Eligible Purchase Payments** — are Purchase Payments or portions thereof made on or after the Endorsement Date that are included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus). Note that all Purchase Payments are not Eligible Purchase Payments for purposes of calculating the Benefit Base.

**Endorsement Date** — the date we issued the Living Benefit endorsement to your Contract.

**Excess Withdrawal** — any withdrawal or portion thereof that causes the total of all withdrawals for that Benefit Year to exceed the Maximum Annual Withdrawal Amount, except if taken to meet a required minimum distribution associated with the Contract to which a Living Benefit endorsement is attached.

**Income Credit** — is an amount that may be added to the Benefit Base during the Income Credit Period.

**Income Credit Base** — is a component of the calculation of IncomeLOCK Plus, which is used to determine the dollar amount of any Income Credit during the Income Credit Period.

**Income Credit Percentage** — a percentage used to calculate any available Income Credit for IncomeLOCK Plus on each Benefit Anniversary during the Income Credit Period.

**Income Credit Period** — is the first twelve Benefit Years during which we calculate an Income Credit that may be added to the Benefit Base for IncomeLOCK Plus.

**Ineligible Purchase Payments** — are Purchase Payments or portions thereof that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus).

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**Maximum Annual Withdrawal Amount** — the maximum amount that may be withdrawn each Benefit Year and is an amount calculated as a percentage of the Benefit Base.

**Minimum Benefit Base** — is the guaranteed minimum amount to which the Benefit Base could be increased on the 12th Benefit Anniversary for IncomeLOCK Plus, provided no withdrawals are taken prior to that anniversary while the Living Benefit endorsement is in effect.

**Protected Income Payment** — the amount to be paid each year over the remaining lifetime of the Covered Person(s) under IncomeLOCK Plus, after the Account Value is reduced to zero but the Benefit Base is still greater than zero.

**<u>IncomeLOCK Plus</u>** 

The IncomeLOCK Plus Living Benefit is a guaranteed minimum withdrawal benefit. You may elect IncomeLOCK Plus only on your original Contract issue date, subject to certain age requirements. You may elect to have the Living Benefit cover only your life or the lives of both you and your spouse. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

**Fee Table** 

The fees applicable to this Living Benefit are described below. You should keep in mind that an increase in the Benefit Base due to an adjustment to a higher Anniversary Value, an Income Credit, if applicable, or subsequent Eligible Purchase Payments will result in an increase to the dollar amount of the fee. Similarly, a decrease in the Benefit Base due to withdrawals will decrease the dollar amount of the fee.

The IncomeLOCK Plus fees are assessed as a percentage of the Benefit Base for all years in which the IncomeLOCK Plus benefit is in effect. The fee will be calculated and deducted on a proportional basis from your Account Value at the end of the first quarter following election and quarterly thereafter. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons** | **Initial**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annual**<br> **Fee Rate**<br>| **Minimum**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease**<br> **or Increase\***<br>|
| One Covered Person | 1.10<br> %<br>| 2.20<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|
| Two Covered Persons | 1.35<br> %<br>| 2.70<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|

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\*

The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change

quarterly subject to the parameters identified in the table above. After the first Benefit Year, on each "Benefit Quarter Anniversary" (every consecutive three months starting on the Endorsement Date), we will deduct the fee in effect for the previous benefit quarter and determine the fee rate applicable to the next benefit quarter. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your Fee Rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the average value of the VIX from one Benefit Quarter to the next Benefit Quarter. *See "Fee Tables" in this prospectus. For the formula of how the fee is calculated, see "IncomeLOCK Plus Fee Formula" below.* 

We will not assess a quarterly fee if you annuitize your Contract or if a death benefit is paid before the end of the benefit quarter. If IncomeLOCK Plus is still in effect while your Account Value is greater than zero, and you surrender your Contract, we will assess a pro-rata charge for the fee applicable to the benefit quarter in which the surrender occurs if you surrender your Contract before the end of a benefit quarter. The pro-rata fee is calculated by multiplying the fee by the number of days between the date the fee was last assessed and the date of surrender, divided by the number of days between the prior and the next benefit quarter anniversary. If your Account Value is reduced to zero before IncomeLOCK Plus has been cancelled, the fee will no longer be assessed.

**IncomeLOCK Plus Fee Formula** 

The fee for IncomeLOCK Plus is assessed against the Benefit Base and deducted from the Account Value at the end of each Benefit Quarter.

If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the Volatility Index ("VIX"), an index of market volatility reported by the Chicago Board Options Exchange, used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. The formula is the same, and the only difference is the value of the VIX that is used.

The non-discretionary formula used in the calculation of the Annual Fee Rate applicable after the first Benefit Year is:

**Initial Annual Fee Rate + [0.05% x (Value of the VIX as of Market Close on each day the fee is calculated – 20)]** 

The Initial Annual Fee Rate is guaranteed for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table above. Any fee adjustment is based on the non-discretionary formula stated above which is tied to the change in the VIX. If the value of the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly.

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You may find the value of the VIX for any given day by going to the Chicago Board Options Exchange website, www.cboe.com.

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK +6 with a 6% Income Credit may be elected at the date of Contract issue. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years. The Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals. If you take withdrawals in any Benefit Year in excess of 6%, you will not receive any portion of the 6% Income Credit for that Benefit Year.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Amounts Received Under IncomeLOCK Plus — Summary* 

If you elect IncomeLOCK+6, you may choose from Income Option 1, 2 or 3 or the Income Option with a Custom Allocation, which determines the withdrawal percentages you will receive while the Living Benefit is in effect.

You may begin taking withdrawals as early as age 45. The amounts you receive will vary based on (1) the income option you selected, (2) whether there are one or two Covered Persons, and (3) the age of the Covered Person(s) at the time of the first withdrawal. The percentage of the Benefit Base that is guaranteed by the Living Benefits: (1) while the Account Value is greater than zero ranges from 3.25% to 6.5%, and (2) once the Account Value has been reduced to zero ranges from 3% to 5%. *See the "IncomeLOCK Plus Options — Amounts Received Under the Benefit" in this Appendix for more detailed information.* Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in this prospectus).

*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that 20% of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus. All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

The IncomeLOCK +6 (Options 1, 2 and 3) endorsement requires that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). IncomeLOCK +6 (Custom Allocation) allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short- Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

The 20% automatic allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A (IncomeLOCK +6 endorsements with Custom Allocation only). The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus

for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

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*Asset Rebalancing Program* 

We will automatically enroll you in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the restrictions. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the automatic allocation. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing.

You may modify the automatic asset rebalancing instructions at any time as long as they are consistent with the restrictions. If the Living Benefit is cancelled or terminated and the Contract remains in-force, investment restrictions will no longer apply.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

*Additional Important Information Applicable to IncomeLOCK Plus* 

**If you elect IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect. You will need to wait until after the 5th Benefit Year anniversary (the earliest IncomeLOCK Plus termination date), terminate IncomeLOCK Plus and then take a loan. When you terminate IncomeLOCK Plus, you will lose any benefits that you may have had with this feature.** 

Withdrawals under these features are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may withdraw each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus*.

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" and "Federal Tax Matters" sections of this prospectus*.

IncomeLOCK Plus may only be elected on your original Contract issue date, provided you meet the applicable issue age requirements. Note that these features and/or their components may not be available in your state. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*. In addition, effective December 26, 2012, IncomeLOCK Plus is no longer available for new enrollments under plans which are subject to the requirements of Title I of ERISA. This discontinuance will not affect participants who have already elected IncomeLOCK or IncomeLOCK Plus under such plans. Check with your financial professional for availability and any additional restrictions.

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability. **Excess Withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

**IncomeLOCK Plus Options** 

You may elect IncomeLOCK Plus only on your Contract issue date to cover either your life only or the lives of both you and your spouse. We refer to the person or persons whose lifetime withdrawals are guaranteed under IncomeLOCK Plus as the "Covered Person(s)." If your Contract is not owned by a natural person, references to Owner(s) apply to the Annuitant(s). *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

IncomeLOCK +6 locks in the greater of two values in determining the Benefit Base. The Benefit Base determines the basis of the Covered Person(s)' guaranteed lifetime benefit which must be taken in a series of withdrawals. Each consecutive one-year period starting from the Endorsement Date is considered a Benefit Year. While the Benefit Base is greater

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than zero, the Benefit Base is automatically locked in on each Benefit Anniversary, to the greater of (1) the highest Anniversary Value, or (2) the Benefit Base increased by any available Income Credit. The Income Credit is reduced but not eliminated in any Benefit Year in which withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years, even after starting withdrawals. There is an additional guarantee if you do not take any withdrawals before the 12th Benefit Anniversary (the "Minimum Benefit Base"). In that situation, the Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base on the 12th Benefit Anniversary is less than the Minimum Benefit Base, which is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Age Requirements and Covered Persons* 

To elect IncomeLOCK Plus, Covered Persons must meet the age requirements set forth below. The age requirement varies depending on the number of Covered Persons. The age requirements for other optional benefits and features under your Contract may be different than those listed here. You must meet the age requirement for those features in order to elect them.

If you elect one Covered Person:

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| | | |
|:---|:---|:---|
|  | **Covered Person** | **Covered Person** |
|  | **Minimum Age** | **Maximum Age** |
| One Covered Person | 45 | 80 |

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If you elect two Covered Persons:

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| | | | |
|:---|:---|:---|:---|
|  | **Covered Person #1** | **Covered Person #1** | **Covered Person #2** |
|  | &nbsp;&nbsp; **Minimum**<br> **Age**<br>| &nbsp;&nbsp; **Maximum**<br> **Age**<br>| &nbsp;&nbsp; **Minimum**<br> **Age**<br>|
| Nonqualified:<br> One Owner<br> with Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|
| Qualified: One<br> Owner with<br> Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|

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(1) The age requirement is based solely on the single owner for purposes of issuing the Contract with the Living Benefit. The spousal beneficiary's age is not considered in determining the maximum issue age of the second Covered Person.

Covered Persons can be any of the following:

If you elect one Covered Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant (for Contracts not naturally-owned)

If you elect two Covered Persons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner and the 100% spousal primary beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant and the 100% spousal primary beneficiary (for Contracts not naturally-owned)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Spousal joint annuitants (for Contracts not naturally-owned)

Ownership changes can affect IncomeLOCK Plus as follows:

If you elect one Covered Person:

An ownership change that removes the Covered Person cancels the feature. Ownership changes that do not cancel the feature:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner: the natural Contract Owner and the annuitant must be the same person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner: the new natural Contract Owner and the annuitant must be the same person.

If you elect two Covered Persons:

Ownership changes that do not eliminate the second Covered Person's guarantee include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner (the natural Contract Owner and the annuitant must be the same person); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner (the new natural Contract Owner and the annuitant must be the same person).

Ownership changes that eliminate the second Covered Person's guarantee, but still provide the life guarantee for the first Covered Person include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Removal or replacement of the original spousal beneficiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Removal of second Covered Person as Contract Owner or spousal beneficiary as a result of a divorce settlement.

Note also that if a Contract is non-naturally owned, a change of annuitant is not permitted.

*Amounts Received under the Benefit* 

The amount you can receive differs depending on the Income Credit option you have elected and whether the Account Value is greater than or equal to zero. While the Account Value is greater than zero, the Maximum Annual Withdrawal Percentage represents the percentage of the Benefit Base used to calculate the Maximum Annual Withdrawal Amount that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to

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zero, the Protected Income Payment Percentage represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year over the

remaining lifetime of the Covered Person(s). *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.*

The applicable Maximum Annual Withdrawal Percentage and Protected Income Payment Percentage depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. The first percentage represents the Maximum Annual Withdrawal Percentage and the second percentage represents the Protected Income Payment Percentage for each of the options shown.

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons and Age of Covered Person at First Withdrawal** | **Income Option 1** | **Income Option 2** | **Income Option 3** | **Custom Allocation** |
| One Covered Person (Age 64 and Younger) | 5.0% / 3.0%\* | 5.0% / 3.0%\* | 3.75% for Life | 4.5% / 3.0%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4.0% | 6.5% / 3.0% | 5.0% for Life | 4.5% / 4.0% |
| Two Covered Persons (Age 64 and Younger) | 4.5% / 3.0%\* | 4.5% / 3.0%\* | 3.25% for Life | 4.0% /3.0%\* |
| Two Covered Persons (Age 65 and Older) | 5.0% / 4.0% | 6.0% / 3.0% | 4.50% for Life | 4.0% / 4.0% |

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\* The Protected Income Payment Percentage is 4% if the Benefit Base is increased to a new highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

*Calculation of the Value of each Component of the Benefit* 

The benefit offered by IncomeLOCK Plus is calculated by considering the factors described below. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

First, we determine the initial Benefit Base. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million (annual cap amount) without our prior approval. The initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000. In addition, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Any Purchase Payments made in contract year 1 in excess of the annual cap amount as well as all Purchase Payments received after the first contract year are considered Ineligible Purchase Payments, and are not included in the Benefit Base. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 (annual cap amount) without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Second, we consider the Income Credit Period. The Income Credit Period is the period of time over which we calculate the Income Credit. The Income Credit Period begins on the Endorsement Date and ends 12 years thereafter. The Income Credit Period may not be extended.

Third, we determine the Anniversary Value which equals your Account Value on any Benefit Anniversary minus any Ineligible Purchase Payments. The highest Anniversary Value is the current Anniversary Value that is greater than (1) all previous Anniversary Values; or (2) Eligible Purchase Payments.

Fourth, we determine the Income Credit Base which is used solely as a basis for calculating the Income Credit during the Income Credit Period. The initial Income Credit Base is equal to the initial Benefit Base. The Income Credit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Fifth, we determine the Income Credit.

The Income Credit is equal to 6% ("Income Credit Percentage") of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. If you take withdrawals in a Benefit Year that are in total less than 6% of the Benefit Base (and therefore, less than your Maximum Annual Withdrawal Amount), the Income Credit Percentage on the Benefit Year anniversary is reduced by a percentage calculated as the sum of all withdrawals taken during the preceding Benefit Year, divided by the Benefit Base. For example, if you take a withdrawal that is equal to 4% of the Benefit Base, the Income Credit Percentage for that Benefit Year is reduced from 6% to 2%. However, if you take a withdrawal that is greater than the Maximum Annual Withdrawal Amount in the preceding Benefit Year, the Income Credit for that Benefit Year is equal to zero.

Sixth, we determine the Maximum Annual Withdrawal Amount, which represents the maximum amount that may be withdrawn each Benefit Year while the Account Value is greater than zero, without reducing the Benefit Base, and if applicable, the Income Credit Base. The Maximum Annual Withdrawal Amount is calculated by multiplying the Benefit Base by the applicable Maximum Annual Withdrawal Percentage. If your Account Value

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is reduced to zero but your Benefit Base is greater than zero, the Protected Income Payment is determined by multiplying the Benefit Base by the applicable Protected Income Payment Percentage.

Finally, we consider any Excess Withdrawals. We define Excess Withdrawals as any withdrawal in a Benefit Year taken after the Maximum Annual Withdrawal Amount has been withdrawn, or any portion of a withdrawal that causes the total withdrawals in a Benefit Year to exceed the Maximum Annual Withdrawal Amount.

*Increase of the Benefit Base and Income Credit Base* 

On each Benefit Anniversary, the Benefit Base is automatically increased to the greater of (1) the highest Anniversary Value; or (2) the current Benefit Base plus the Income Credit, if any. In addition, the Benefit Base can also be increased to at least the Minimum Benefit Base on the 12th Benefit Year anniversary, **provided no withdrawals are taken prior to that anniversary.** 

On each Benefit Anniversary during the Income Credit Period (first 12 Benefit Years following the Endorsement Date), the Income Credit Base is automatically increased to the highest Anniversary Value, if the Benefit Base is also increased to the highest Anniversary Value. The Income Credit Base is not increased if an Income Credit is added to the Benefit Base.

Increases to your Benefit Base and Income Credit Base occur on Benefit Anniversaries while the Account Value is greater than zero. However, Eligible Purchase Payments can increase your Benefit Base and Income Credit Base at the time they are received. **Your Benefit Base and Income Credit Base will not increase if your Account Value was higher on days other than the Benefit Anniversary.** 

In any Benefit Year during which subsequent Eligible Purchase Payments are allocated to your Contract, any remaining withdrawals of the Maximum Annual Withdrawal Amount will be based on the increased Maximum Annual Withdrawal Amount reduced by withdrawals previously taken in that Benefit Year. If the Benefit Base is increased on a Benefit Anniversary, the Maximum Annual Withdrawal Amount will be recalculated on that Benefit Anniversary, applicable to the coming Benefit Year, by multiplying the increased Benefit Base by the applicable Maximum Annual Withdrawal Percentage.

If the Account Value has been reduced to zero, the Benefit Base will no longer be recalculated on each Benefit Anniversary. *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.* 

*Impact of Deduction of Advisory Program Fee on Living Benefits* 

If you purchased your Contract and added IncomeLOCK+6 between July 1, 2012 and December 26, 2012, you had the ability to also participate in an Advisory Program. If you did not purchase a Living Benefit between these time frames, enrolling

in an Advisory Program terminated your Living Benefit and the information below does not apply to you.

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the Living Benefit. The examples below assess the impact of the payment of an Advisory Program Fee from the Contract value upon the IncomeLOCK +6 Living Benefit, assuming an initial $100 deposit and no additional payments and no withdrawals.

(1) If, by the end of the year, the Contract Value increases to $120 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $119. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year is $106. Since the Contract value of $119 is greater than the Benefit Base of $106, the Living Benefit will be increased up to the Contract value of $119 instead of $120.

(2) If, by the end of the year, the Contract value decreases to $90 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $89. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year $106 which will be used because it is higher than the Contract value.

**Please note**, if you are participating in a third-party Advisory Program and have the Advisory Program Fee deducted from your Contract, the deduction of the fees will be deemed a withdrawal and could negatively impact your Benefit Base if the advisory fees and the income amount taken under the Living Benefit exceed the Maximum Annual Withdrawal Amount.

An Advisory Program is not available for Contracts with the IncomeLOCK +8 Living Benefit.

*Cancellation of IncomeLOCK Plus* 

IncomeLOCK Plus may be cancelled by the Contract Owner on any Benefit Quarter Anniversary after the end of the 5th Benefit Year. Cancellation will be effective on the Benefit Quarter Anniversary following receipt of a cancellation request and the fee will continue to be deducted up to and including the cancellation effective date. Prior fees taken are not returned upon cancellation. Once IncomeLOCK Plus is cancelled, the guarantees under the benefit are terminated, investment limitations no longer apply to the Contract and you may not re-elect IncomeLOCK Plus.

*Automatic Termination of IncomeLOCK Plus* 

The feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Any Excess Withdrawal that reduces the Account Value and Benefit Base to zero.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A death benefit is paid, and the Contract is terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Full surrender or termination of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Full or partial annuitization of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Upon the death of the single Covered Person (for single life benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Upon the death of the second (surviving) Covered Person (for joint lives benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Any change of ownership except as noted above.

**Withdrawals under the Living Benefits** 

The timing and amount of withdrawals will affect the amounts received under the Living Benefits, as set forth below in greater detail.

The amount of any withdrawal for any Living Benefit which exceeds the Maximum Annual Withdrawal Amount because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an Excess Withdrawal providing that all of the following conditions are met:

(1) No withdrawals in addition to the RMD are taken in that same year;

(2) Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

(3) If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70 ½ (or your applicable RMD age requirement), or retire, if applicable; and

(4) You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an Excess Withdrawal.

If you have elected IncomeLOCK +6 and the RMD amount is greater than the Maximum Annual Withdrawal Amount, but less than 6% of the Benefit Base, an Income Credit will be included in determining any Benefit Base increase in that Benefit Year.

Withdrawals made under these Living Benefits are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and

conditions of the Contract. The sum of withdrawals in any Benefit Year up to the Maximum Annual Withdrawal Amount will not be assessed a surrender charge.

**You should not elect a Living Benefit if you plan to take Excess Withdrawals since those withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

*Withdrawal under IncomeLOCK Plus* 

The Maximum Annual Withdrawal Amount, the Benefit Base and the Income Credit Base may change over time as a result of the timing and amount of withdrawals. If you take a withdrawal before the 12th Benefit Year anniversary, your Benefit Base is not eligible to be increased to the Minimum Benefit Base.

Withdrawals during a Benefit Year that in total are less than or equal to the Maximum Annual Withdrawal Amount will not reduce the Benefit Base or Income Credit Base. However, if you choose to take less than the Maximum Annual Withdrawal Amount in any Benefit Year, you may not carry over the unused amount for withdrawal in subsequent years.

Excess Withdrawals reduce your Benefit Base on the date the Excess Withdrawal occurs. Any Excess Withdrawal in a Benefit Year reduces the Benefit Base in the same proportion by which the Account Value is reduced by the Excess Withdrawal. As a result of a reduction of the Benefit Base, the new Maximum Annual Withdrawal Amount will be equal to the reduced Benefit Base multiplied by the applicable Maximum Annual Withdrawal Percentage. The last recalculated Maximum Annual Withdrawal Amount in a given Benefit Year is available for withdrawal at the beginning of the next Benefit Year and may be lower than the previous Benefit Year's Maximum Annual Withdrawal Amount. When the Account Value is less than the Benefit Base, Excess Withdrawals will reduce the Benefit Base by an amount which is greater than the amount of the Excess Withdrawal. In addition, no Income Credit will be added to the Benefit Base in that Benefit Year.

The impact of withdrawals on specific factors is further explained below:

**Benefit Base and Income Credit Base**: If the sum of withdrawals in any Benefit Year exceeds the Maximum Annual Withdrawal Amount, the Benefit Base and Income Credit Base will be reduced for those withdrawals. For each Excess Withdrawal taken, the Benefit Base and Income Credit Base are reduced in the same proportion by which the Account Value is reduced by the amount in excess of the Maximum Annual Withdrawal Amount.

**Maximum Annual Withdrawal Amount**: The Maximum Annual Withdrawal Amount is recalculated each time there is a change in the Benefit Base. Accordingly, if the sum of withdrawals in any Benefit Year does not exceed the Maximum Annual Withdrawal Amount for that year, the Maximum Annual Withdrawal Amount will not change for the next year unless your Benefit Base is

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increased. If you take an Excess Withdrawal, the Maximum Annual Withdrawal Amount will be recalculated by multiplying the reduced Benefit Base by the existing Maximum Annual Withdrawal Percentage. This recalculated Maximum Annual Withdrawal Amount is available for withdrawal at the beginning of the next Benefit Year and may be lower than your previous Maximum Annual Withdrawal Amount.

**Protected Income Payment**: If the Benefit Base is greater than zero, but the Account Value has been reduced to zero, we will pay any remaining Maximum Annual Withdrawal Amount for the current Benefit Year. Thereafter, you will receive the Protected Income Payment each year over the remaining lifetime of the Covered Person(s) which is calculated by multiplying the Benefit Base by the applicable Protected Income Payment Percentage. The Benefit Base is no longer increased on Benefit Anniversaries after the Account Value has been reduced to zero. As a result, the Protected Income Payment is calculated once and will not change. See "If your Account Value is Reduced to Zero" below.

*If your Account Value is Reduced to Zero* 

All withdrawals from the Contract, including withdrawals under IncomeLOCK Plus, will reduce your Account Value. Unfavorable investment experience and/or fees may also reduce your Account Value. If the Account Value is reduced to zero but the Benefit Base is greater than zero, we will pay the remaining Maximum Annual Withdrawal Amount. Thereafter we will pay the Protected Income Payment over the remaining lifetime of the Covered Person(s).

**If an Excess Withdrawal reduces your Account Value to zero, no further benefits are payable under the Contract and your Contract along with IncomeLOCK Plus will terminate.** 

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit is payable. Therefore, you should be aware that, particularly during times of unfavorable investment performance, withdrawals taken under IncomeLOCK Plus may reduce the Account Value to zero, thereby terminating any other benefits of the Contract. In addition, an Income Credit is not available if the Account Value is reduced to zero, even if a benefit remains payable.

When the Account Value equals zero but the Benefit Base is greater than zero, to receive any remaining Living Benefit, you must select one of the following options for payment:

1. The Protected Income Payment divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

2. Any payment option mutually agreeable between you and us.

Once you elect a payment option, it cannot be changed. If you do not select a payment option above, the remaining benefit will

be paid as an amount based on the Protected Income Payment Percentage. This amount will be divided equally and paid on a quarterly basis until the date of death of the Covered Person(s).

*Latest Annuity Date* 

If the Account Value is greater than zero and you have reached the latest Annuity Date, if applicable, the Maximum Annual Withdrawal Amount is no longer available for withdrawal under IncomeLOCK Plus. Rather, the Protected Income Payment will be calculated by multiplying the Benefit Base by the Protected Income Payment Percentage and paid until the death(s) of the Covered Person(s), as discussed under "*If your Account Value is Reduced to Zero" above.* 

If the Account Value and the Benefit Base are greater than zero on the latest Annuity Date, you must select one of the following options:

1. Annuitize the Account Value under the Contract's annuity provisions; or

2. Elect to receive the Protected Income Payment on the latest Annuity Date, divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

3. Any payment option mutually agreeable between you and us.

If you do not elect an option listed above, on the latest Annuity Date, we may annuitize the Account Value in accordance with one of the single or joint life and period certain options under the Annuity Provisions of the Contract or payments that do not exceed your life expectancy as required by the Internal Revenue Service ("IRS").

**Death Benefits under IncomeLOCK Plus** 

If there is one Covered Person and that person dies, the surviving spousal Beneficiary may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract if the Account Value is greater than zero, without IncomeLOCK Plus and its corresponding fee.

If there are two Covered Persons, upon the death of one Covered Person, the surviving Covered Person may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract with IncomeLOCK Plus and its corresponding fee.

The components of IncomeLOCK Plus in effect at the time of such continuation will not change. The surviving Covered

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Person can elect to receive withdrawals in accordance with the provisions of IncomeLOCK Plus elected based on the age of the younger Covered Person at the time the first withdrawal was taken. If no withdrawals were taken prior to the continuation, the Maximum Annual Withdrawal Percentage and the Protected Income Payment Percentage will be based on the age of the surviving Covered Person at the time the first withdrawal is taken. If the continuation occurs during the Income Credit Period, the surviving Covered Person will continue to receive any increases to the Benefit Base for highest Anniversary Values or if applicable, any Income Credit while the Account Value is greater than zero. The surviving Covered Person is also eligible to receive the Minimum Benefit Base on the 12th Benefit Anniversary if no withdrawals have been taken during the first 12 Benefit Years following the Endorsement Date.

Upon the death of the Covered Person(s), if the Account Value is greater than zero, a Beneficiary who is not a Covered Person must make an election under the death benefit provisions of the Contract, which terminates IncomeLOCK Plus.

*For more information on death benefits, see "Death Benefits" in the prospectus.* 

**<u>IncomeLOCK Plus Endorsements Issued Prior to February 25,</u> <u>2013</u>** 

Effective February 25, 2013, the IncomeLOCK +8 living benefit is no longer available for purchase. If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to February 25, 2013, the following provisions are applicable to this feature. All other IncomeLOCK Plus information provided in this Appendix under the heading "IncomeLOCK Plus" above applies to your Living Benefit except the following:

**Fee Tables** 

The IncomeLOCK Plus fee is calculated as a percentage of the Benefit Base.<sup>1</sup>

For Endorsement Dates of December 26, 2012 through February 24, 2013:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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For IncomeLOCK Plus Endorsement Dates of May 1, 2012 through December 25, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.30% | 2.60% | +/-0.25% |
| Two Covered Persons | 1.55% | 3.10% | +/-0.25% |

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For Endorsement Dates prior to May 1, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK Plus was available with two separate Income Credit options: IncomeLOCK +6, with a 6% Income Credit, and IncomeLOCK +8, with an 8% Income Credit. The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

For IncomeLOCK +6, the Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals.

For IncomeLOCK +8, the Income Credit is only available in years when no withdrawals are taken.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

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<sup>1</sup>

The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. *For a complete description of how the Benefit Base is calculated for IncomeLOCK Plus, see "IncomeLOCK Plus — IncomeLOCK Plus Options"* in this Appendix.

<sup>2</sup>

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. If the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly. *See "IncomeLOCK Plus — IncomeLOCK Plus Fee Formula" in this Appendix.*

<sup>3</sup>

The Minimum Annual Fee Rate for IncomeLOCK Plus is 0.60%.

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during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments if the feature is added on the original Contract issue date or 200% of your Account Value on the Endorsement Date if the feature was added after your original Contract issue date and prior to May 1, 2012.

*Amounts Received Under IncomeLOCK Plus* 

You may begin taking withdrawals as early as age 45. If you elected IncomeLOCK+6 on December 26, 2012 through February 24, 2013, the withdrawal percentage you receive while the Living Benefit is in effect varies according to the Income Credit Option you elected (Option 1, 2, 3 or Custom Allocation).

In addition, if you elected IncomeLOCK +6 or IncomeLOCK +8, your withdrawal percentage will vary primarily depending on (1) whether you elected one or two Covered Persons, (2) the age of the Covered Person(s) at the time of the first withdrawal and (3) whether the Account Value is greater than or equal to zero.

While the Account Value is greater than zero, the MAWP represents the percentage of the Benefit Base used to calculate the MAWA that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to zero, the PIPP represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year

over the remaining lifetime of the Covered Person(s). See "IncomeLOCK Plus — If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" in the prospectus.

The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value is greater than zero, or the MAWP, ranges from 5% to 6% for IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012 and ranges from 4.5% to 5.5% for IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012. The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value has been reduced to zero, or the PIPP, ranges from 3% to 4%. The MAWP and PIPP will vary based on (1) the Living Benefit selected (IncomeLOCK +6 or IncomeLOCK +8), (2) whether there are one or two Covered Person(s), (3) the age of the Covered Person(s) at the time of the first withdrawal, and (4) the Endorsement Date of the Living Benefit.

Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in the prospectus).

The applicable MAWP and PIPP depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. **The first percentage represents the MAWP and the second percentage represents the PIPP for each of the options shown.**

*For IncomeLOCK Plus with an Endorsement Date on December 26, 2012 through February 24, 2013:* 

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **Income**<br> **Option 1**<br>| &nbsp;&nbsp; **Income**<br> **Option 2**<br>| &nbsp;&nbsp; **Income**<br> **Option 3**<br>| &nbsp;&nbsp; **Custom**<br> **Allocation**<br>|
| One Covered Person (Age 64 and Younger) | 5.5% / 3%\* | 5.5% / 3% | 3.75% for Life | 4.5% / 3%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4% | 6.5% / 3% | 5% for Life | 4.5% / 4% |
| Two Covered Persons (Age 64 and Younger | 5% / 3%\* | 5% / 3% | 3.25% for Life | 4% / 3%\* |
| Two Covered Persons (Age 65 and Older) | 5% / 4% | 6% / 3% | 4.50% for Life | 4% / 4% |

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\* The PIPP is 4% if the Benefit Base is increased to a new Highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

**IncomeLOCK +8** 

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| | |
|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **MAWP**<br> **and**<br> **PIPP**<br>|
| One Covered Person (Age 64 and Younger) | 3.75% for Life |
| One Covered Person (Age 65 and Older) | 4.75% for Life |
| Two Covered Persons (Age 64 and Younger | 3.25% for Life |
| Two Covered Persons (Age 65 and Older) | 4.25% for Life |

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*For IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 5.5% / 3% | 5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 5.5% / 4% | 5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5% / 3% | 4.5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5% / 4% | 4.5% / 4% |

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*For IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 6% / 3% | 5.5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 6% /4% | 5.5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5.5% / 3% | 5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5.5% /4% | 5% / 4% |

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*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that a percentage of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus (15% if your Endorsement Date was before May 1, 2012 and 20% if your Endorsement Date was after May 1, 2012). All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

*Living Benefits Elected on December 26, 2012 through February 24, 2013.* The IncomeLOCK +6 (Options 1, 2 and 3) and IncomeLOCK +8 endorsements require that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). The IncomeLOCK +6 endorsement with Custom Allocation allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more

than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

We will automatically allocate 15% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was prior to May 1, 2012 or 20% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was after May 1, 2012.

The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

*Asset Rebalancing Program.* 

If you elected IncomeLOCK Plus, you are automatically enrolled in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the investment restrictions noted above. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the 15% or 20% automatic allocation referenced above. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the

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restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing. *See the "IncomeLOCK Plus Features — Asset Rebalancing Program" section of this Appendix for additional details of the automatic rebalancing program.* 

*See the "IncomeLOCK Plus Features — Additional Important Information about IncomeLOCK Plus" section in this Appendix for information about your Living Benefit.* 

**IncomeLOCK Plus Options** 

If you elected IncomeLOCK +8, the Income Credit is eliminated in any Benefit Year in which you take a withdrawal.

*Calculation of the Value of each Component of the Benefit* 

The calculation of the initial Benefit Base for IncomeLOCK +6 with Endorsement Dates prior to December 26, 2012 and for IncomeLOCK +8 with Endorsement Dates prior to February 25, 2013 is set forth below. *If you elected IncomeLOCK Plus on or after December 26, 2012, see the section of this Appendix titled "Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

The calculation of other components of the Living Benefit, including the Income Credit Period, the Anniversary Value, the Income Credit Base, the Income Credit (if you elected IncomeLOCK +6), the MAWA and Excess Withdrawals, is calculated as set forth in the section of this Appendix titled *"Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

First, we determine the initial Benefit Base. If IncomeLOCK Plus was selected prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million without our prior approval. If IncomeLOCK Plus is selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK Plus was selected prior to December 26, 2012, certain Purchase Payments received during the first five years after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base, as follows:

1. 100% of Purchase Payments received in the first contract year; and

2. Purchase Payments received in each of contract years 2-5, capped each year at an amount equal to 200% of the Purchase Payments received in contract year 1.

For example, if you made a $100,000 Purchase Payment in contract year 1, Eligible Purchase Payments will include

additional Purchase Payments of up to $200,000 for contract years 2-5 for a grand total maximum of $900,000 of Eligible Purchase Payments.

Any Purchase Payments made after your Endorsement Date (if IncomeLOCK Plus was selected after Contract issue), or any Purchase Payments made in contract years 2-5 in excess of the annual cap amount as well as all Purchase Payments received after the 5th contract year (if IncomeLOCK Plus is selected at Contract issue) are considered Ineligible Purchase Payments, and are not included in the Benefit Base.

If IncomeLOCK +8 was selected on December 26, 2012 through February 24, 2013, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment and is reduced proportionately for Excess Withdrawals.

If you elect IncomeLOCK +8, the Income Credit is 8% of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. The Income Credit may only be added to the Benefit Base if no withdrawals are taken in a Benefit Year. For example, if you take a withdrawal in Benefit Year 2, you will not be eligible for an Income Credit to be added to your Benefit Base on your second Benefit Anniversary; however, if you do not take a withdrawal in Benefit Year 3, you will be eligible for an Income Credit to be added to your Benefit Base on your third Benefit Anniversary.

*See "IncomeLOCK Plus Options — Cancellation of IncomeLOCK Plus" under the heading "IncomeLOCK Plus" for information on how you may cancel your Living Benefit.* 

*Automatic Termination of IncomeLOCK Plus* 

In addition to the termination events discussed in this Appendix in the section titled *"IncomeLOCK Plus Options — Automatic Termination of IncomeLOCK Plus" under the heading "IncomeLOCK Plus"*, the feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

1. The Contract Owner elects to take a loan from the Contract while the benefit is in effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2. The Contract Owner elects to add Guided Portfolio Services or Guided Portfolio Advantage while the benefit is in effect.

**Surrender of Account Value** 

If you have elected IncomeLOCK +8, no Income Credit will be included in the calculation of the Benefit Base when an RMD is taken.

**Loans** 

If you elected IncomeLOCK Plus prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**<u>IncomeLOCK</u>** 

IncomeLOCK, a Living Benefit, is no longer offered. If you elected IncomeLOCK, the following provisions are applicable to this feature.

In addition to the defined terms in the prospectus, the following defined terms are applicable to the IncomeLOCK Living Benefit:

**Anniversary Value** — the Account Value minus any Ineligible Purchase Payments, as measured on any Benefit Anniversary during the MAV Evaluation Period.

**Maximum Anniversary Value ("MAV") Evaluation Period** — the period beginning on the Endorsement Date and ending on the 10th Benefit Anniversary for IncomeLOCK.

**Minimum Withdrawal Period ("MWP")** — the minimum period over which you may take withdrawals under IncomeLOCK, if withdrawals are not taken under the lifetime withdrawal option.

**Extension Offer** 

The information below is important to you if you purchased a Contract between May 1, 2006 and July 5, 2010 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ends after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it was offered, you will not be permitted to extend the MAV Evaluation Period in the

future. As with all important financial decisions, we recommend that you discuss this with your financial professional.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2006 and July 5, 2010 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.65% | 0.90% |

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As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

The information below is important to you if you purchased a Contract between July 6, 2010 and April 30, 2012 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ended after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it is offered, you will not be permitted to extend the MAV Evaluation Period in the future. As with all important financial decisions, we recommend that you discuss this with your financial advisor.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between July 6, 2010 and April 30, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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---

| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.70% | 0.95% |

---

As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2012 and July 2, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.90% | 1.15% |

---

As a reminder, you also have the option to cancel your IncomeLOCK Living Benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elect to cancel your IncomeLOCK Living Benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

**Fee Table** 

The IncomeLOCK fee is calculated as a percentage of the Benefit Base.<sup>4</sup>

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| |
|:---|
| **Fee Period** |
| All years<br>0.90%<sup>5</sup> <br>|

---

The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit. If your Account Value and/or Benefit Base falls to zero before the feature has been terminated, the fee will no longer be deducted.

We will not assess the quarterly fee if you surrender or annuitize your Contract before the end of a quarter.

**IncomeLOCK Features** 

IncomeLOCK provides for an automatic lock-in of the Contract's highest Anniversary Value during the first ten years from the Endorsement Date (or twenty years, if the benefit is extended). You have the flexibility to receive income under the benefit when and how you need it. Each year, you can withdraw up to 5%, 7% or 10% of your Benefit Base (the total guaranteed amount available for withdrawal), depending on when you take your first withdrawal. A guaranteed lifetime income of 5% is also available if you wait until the Benefit Anniversary following your 65th birthday to take your first withdrawal under the Living Benefit. The MAWP is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Before 5th Benefit Year anniversary: 5%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 5th Benefit Year anniversary: 7%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 10th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 20th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after the Benefit Anniversary following your 65th birthday (for lifetime withdrawals): 5%

*Investment Restrictions* 

As long as your IncomeLOCK endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages below. You may combine Variable Investment Options from Groups A, B and C to create your personal investment portfolio. IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010 are not subject to these investment restrictions.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

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<sup>4</sup>

IncomeLOCK is an optional guaranteed minimum withdrawal benefit. The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit.

<sup>5</sup>

For IncomeLOCK endorsements with an Endorsement Date from July 6, 2010 to April 30, 2012, the maximum annual fee is 0.70%, and for IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010, the maximum annual fee is 0.65%. For IncomeLOCK endorsements with an Endorsement Date from May 1, 2012, to July 2, 2012, the maximum annual fee is 0.90%.

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*Additional Important Information about IncomeLOCK* 

**If you take a loan after your IncomeLOCK Endorsement Date, the Living Benefit will automatically be terminated and you will lose any benefits that you may have had with this feature.** Withdrawals under this feature are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may remove each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus.* 

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" section of this prospectus, including the section in this Appendix, and the "Federal Tax Matters" section of this prospectus.* 

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability.

*IncomeLOCK Components* 

The benefit's components and value may vary depending on when the first withdrawal is taken, the age of the Contract Owner at the time of the first withdrawal and the amount that is withdrawn. Your withdrawal activity determines the time period over which you are eligible to receive withdrawals. You will automatically be eligible to receive lifetime withdrawals if you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and your withdrawals do not exceed the maximum annual withdrawal percentage of 5% in any Benefit Year. You may begin taking withdrawals under the benefit immediately following the date the IncomeLOCK endorsement is issued for your Contract. *See "Surrender of Account Value" in this Appendix for more information regarding the effects of withdrawals on the components of IncomeLOCK and a description of the effect of RMDs on the Living Benefit.* 

The table below is a summary of the IncomeLOCK feature and applicable components of the benefit.

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| | | | |
|:---|:---|:---|:---|
| **Withdrawal** | **MAWP**<br> **Prior**<br> **to any**<br> **Extension**<br>| **Initial**<br> **MWP**<br> **Prior to**<br> **any**<br> **Extension**<br>| **MAWP**<br> **if**<br> **Extension**<br> **is Elected**<br>|
| Before 5th Benefit Anniversary | 5% | 20 Years | 5% |
| On or after 5th Benefit Anniversary | 7% | 14.28 Years | 7% |
| On or after 10th Benefit Anniversary | 10% | 10 Years | 7% |
| On or after 20th Benefit Anniversary | 10% | 10 Years | 10% |
| &nbsp;&nbsp;&nbsp; On or after the Benefit Anniversary<br> following Contract owner's<br> 65th birthday.<br>| 5% | Life of the<br> Contract<br> Owner<sup>6</sup> <br>| 5% |

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*Calculation of the value of each component of the Benefit* 

First, we determine the Benefit Base. If IncomeLOCK was selected after Contract issue and prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1 million without our prior approval. If IncomeLOCK was selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK was selected at Contract issue, the amount of Purchase Payments received during the first two years after your Endorsement Date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base. Any Purchase Payments we receive after your Endorsement Date, if IncomeLOCK was selected after Contract issue (or more than two years after your Endorsement Date, if IncomeLOCK is selected at Contract issue) are considered Ineligible Purchase Payments. Eligible Purchase Payments are limited to $1 million without our prior approval.

On each Benefit Anniversary throughout the MAV Evaluation Period, the Benefit Base automatically adjusts upwards if the current Anniversary Value is greater than both the current Benefit Base and any previous year's Anniversary Value. Other than reductions made for withdrawals (including Excess Withdrawals), the Benefit Base will only be adjusted upwards. Note that during the MAV Evaluation Period the Benefit Base will never be lowered if Anniversary Values decrease as a result of investment performance. *For effects of withdrawals on the Benefit Base, see the "Surrender of Account Value" section in this Appendix.* 

Second, we consider the MAV Evaluation Period, which begins on the Endorsement Date and ends on the 10th anniversary of the Endorsement Date. Upon the expiration of the MAV

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<sup>6</sup>

Lifetime withdrawals are available so long as your withdrawals remain within the 5% MAWP indicated above. If withdrawals exceed the 5% MAWP in any Benefit Year, and if the excess is not solely a result of RMDs attributable to this Contract, lifetime withdrawals will no longer be available. Instead, available withdrawals are automatically recalculated with respect to the MWP and MAWP listed in the table above, based on the time of first withdrawal and reduced for withdrawals already taken.

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Evaluation Period, you may contact us to extend the MAV Evaluation Period for an additional period as discussed further below.

Third, we determine the Anniversary Value, which equals your Account Value on any Benefit Anniversary during the MAV Evaluation Period, minus any Ineligible Purchase Payments. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value.

Fourth, we determine the MAWA, which represents the maximum amount that may be withdrawn each Benefit Year without creating an excess withdrawal and is an amount calculated as a percentage of the Benefit Base. The applicable MAWP is determined based on the Benefit Year when you take your first withdrawal, or, for lifetime withdrawals, the age of the owner when the first withdrawal is taken. Applicable percentages are shown in the IncomeLOCK summary table above. If the Benefit Base is increased to the current Anniversary Value, the MAWA is recalculated on that Benefit Anniversary using the applicable MAWP multiplied by the new Benefit Base. If the Benefit Base is increased as a result of Eligible Purchase Payments, the MAWA will be recalculated by multiplying the new Benefit Base by the applicable MAWP.

Lastly, we determine the MWP, which is the minimum period over which you may take withdrawals under this feature. The initial MWP is calculated when withdrawals under the benefit begin, and is re-calculated when the Benefit Base is adjusted to a higher Anniversary Value by dividing the Benefit Base by the MAWA*. See the summary table above for initial MWPs.* The MWPs will be reduced due to Excess Withdrawals. *For effects of withdrawals on the MWP, see the "Surrender of Account Value" section of this prospectus.* 

An Advisory Program is not available with the IncomeLOCK Living Benefit. If you sign up for an Advisory Program, the IncomeLOCK Living Benefit will be terminated.

*Cancellation of IncomeLOCK* 

IncomeLOCK may be cancelled on the 5th Benefit Anniversary, the 10th Benefit Anniversary, or any Benefit Anniversary thereafter. Once IncomeLOCK is cancelled, you will no longer be charged a fee and the guarantees under the benefit are terminated. You may not extend the MAV Evaluation Period and you may not re-elect IncomeLOCK after cancellation.

*Automatic Termination of IncomeLOCK* 

The feature automatically terminates upon the occurrence of one of the following:

1. The MWP has been reduced to zero unless conditions for lifetime withdrawals are met; or

2. Full or partial annuitization of the Contract; or

3. Full surrender of the Contract; or

4. A death benefit is paid; or

5. You elect to take a loan from the Contract; or

6. Your spousal Beneficiary elects to continue the Contract without IncomeLOCK; or

7. You elect to participate in an Advisory Program.

Lifetime withdrawals will not be available in the event of:

1. An ownership change which results in a change of the older Contract Owner;<sup>7</sup> or

2. Withdrawals prior to the Benefit Anniversary following the 65th birthday of the Contract Owner; or

3. Death of the Contract Owner; or

4. A withdrawal in excess of the 5% MAWA.<sup>8</sup>

**Surrender of Account Value** 

The timing and amount of withdrawals will affect the amounts received under IncomeLOCK as set forth below in greater detail.

The amount of any withdrawal for IncomeLOCK which exceeds the MAWA because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an excess withdrawal providing that all of the following conditions are met:

1. No withdrawals in addition to the RMD are taken in that same year;

2. Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

3. If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70½ (or age 72, if applicable), or retire, if applicable; and

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<sup>7</sup>

If a change of ownership occurs from a natural person to a non-natural entity, the original natural older owner must also be the annuitant after the ownership change to prevent termination of lifetime withdrawals. A change of ownership from a non-natural entity to a natural person can only occur if the new natural owner was the original natural older annuitant in order to prevent termination of lifetime withdrawals. Any ownership change is contingent upon prior review and approval by the Company.

<sup>8</sup>

However, if an RMD withdrawal for this Contract exceeds the MAWA, the ability to receive lifetime withdrawals will not be terminated as long as withdrawals of RMDs are determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account. See the "Surrender of Account Value" section in this prospectus.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

4. You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an excess withdrawal. This will result in the cancellation of lifetime withdrawals and further may reduce your remaining MWP.

Withdrawals made under IncomeLOCK are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and conditions of the Contract. The sum of withdrawals in any Benefit Year up to the MAWA will not be assessed a surrender charge.

The MAWA, Benefit Base and MWP may change over time as a result of the timing and amounts of withdrawals.

If you elect to begin withdrawals prior to the Benefit Anniversary following your 65th birthday, you will not be eligible to receive lifetime withdrawals. If you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and wish to receive lifetime withdrawals, the MAWA is calculated as 5% of the Benefit Base. At any time, if the amount of withdrawals exceeds 5% of the Benefit Base in a Benefit Year, you will not be guaranteed to receive lifetime withdrawals. However, you can continue to receive withdrawals over the MWP in amounts up to the MAWA as described above, based on when you made your first withdrawal and reduced by withdrawals already taken.

Total withdrawals in any Benefit Year equal to or less than the MAWA reduce the Benefit Base by the amount of the withdrawal. Withdrawals in excess of the MAWA are considered Excess Withdrawals. We define Excess Withdrawals as either: 1) any withdrawal that causes the total withdrawals in a Benefit Year to exceed the MAWA; or 2) any withdrawal in a Benefit

Year taken after the MAWA has been withdrawn. Excess Withdrawals will reduce the Benefit Base by the greater of: (a) the amount of the Excess Withdrawal; or (b) the relative size of the Excess Withdrawal in relation to the Account Value on the next Benefit Anniversary after the Excess Withdrawal. This means that if Account Value is less than the Benefit Base, withdrawals greater than the MAWA will result in a proportionately greater reduction of the Benefit Base (as described below), which will be more than the amount of the withdrawal itself. This will also reduce your MAWA.

The impact of withdrawals and the effect on each component of IncomeLOCK are further explained below.

**Account Value:** Any withdrawal reduces the Account Value by the amount of the withdrawal.

**Benefit Base:** Withdrawals reduce the Benefit Base as follows:

1. All withdrawals up to the MAWA, and any withdrawals in

excess of the MAWA which are due solely to RMDs (as more specifically described above), will reduce the Benefit Base by the dollar amount of the withdrawal;

2. Excess Withdrawals as described above reduce the Benefit Base to the lesser of (a) or (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is the Benefit Base immediately prior to the Excess Withdrawal minus the amount of the Excess Withdrawal, or;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the Benefit Base immediately prior to the Excess Withdrawal reduced in the same proportion by which the Account Value on the next Benefit Anniversary after the Excess Withdrawal is reduced by the amount of the Excess Withdrawal.

**Maximum Annual Withdrawal Amount (MAWA):** The MAWA will be adjusted as follows:

1. If there are no Excess Withdrawals in a Benefit Year, no further changes are made to the MAWA for the next Benefit Year.

2. If there are Excess Withdrawals in a Benefit Year, the MAWA will be recalculated on the next Benefit Anniversary. The new MAWA will equal the new Benefit Base on that Benefit Anniversary after the Withdrawal divided by the new MWP on that Benefit Anniversary. The new MAWA may be lower than your previously calculated MAWA.

**Minimum Withdrawal Period (MWP):** The MWP is calculated as follows:

1. If there are no Excess Withdrawals during a Benefit Year, the new MWP will be the Benefit Base after the withdrawal divided by the current MAWA.

2. If there are Excess Withdrawals during a Benefit Year, the new MWP will equal the MWP calculated at the end of the prior Benefit Year reduced by one year. In the case of lifetime withdrawals, such an Excess Withdrawal will cancel that period and the new MWP will be determined by dividing the new Benefit Base by the new MAWA.

*If your Account Value is Reduced to Zero* 

If your Account Value is reduced to zero and the Benefit Base is greater than zero, subsequent Purchase Payments will no longer be accepted and a death benefit will not be payable. Further payments under the Contract will be made according to your irrevocable election of one of the following two alternatives:

(1) In a form acceptable to the Company, you may request a lump sum equal to the discounted present value of any remaining guaranteed payments under the benefit; or,

(2) If no lump sum request is received by the Company during the period described in a notice provided to you by the Company, you will receive an annuity according to the annuitization provisions of your Contract. Absent an

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alternative election by you, the annuity will consist of annual payments equal to the MAWA, for a period of years equal to the remaining Benefit Base divided by the MAWA. Such payments will be made quarterly unless otherwise elected, and each individual periodic payment will be equal to the pro-rata portion of the annual MAWA based upon the frequency. Prior to the commencement of such payments, you may also elect to receive an alternative form of annuity, in any other actuarially equivalent form permitted under the Contract, subject to any applicable limitations under the Contract or the Plan.

*Extending the MAV Evaluation Period* 

At the end of the MAV Evaluation Period, as long as the benefit is still in effect and the older owner is age 85 or younger, we guarantee that you will be given the opportunity to extend the MAV Evaluation Period for at least one additional evaluation period of 10 years. If you elect to extend the MAV Evaluation Period, the Benefit Base can continue to be adjusted upward as described above on each anniversary during the new MAV Evaluation Period. Also, if you extend the MAV Evaluation Period, you should note that the components of the feature, such as the fee and MAWP, will change to those in effect at the time you elect to extend. The components and fees may be different from when you initially elected the feature. Additional MAV Evaluation Periods may be offered at our sole discretion.

If you do not contact us to extend the MAV Evaluation Period, the Benefit Base will no longer be adjusted on subsequent Benefit Anniversaries. However, you can continue to take the MAWA in effect at the end of the last MAV Evaluation Period, subject to adjustments for withdrawals. You will continue to pay the fee at the rate that was in effect during the last MAV Evaluation Period and you will not be permitted to extend the MAV Evaluation Period in the future.

**Death Benefits** 

*Spousal Beneficiary* 

Upon the death of the Contract Owner, and subject to any applicable limitations in this Contract, the Code, or under the plan or arrangement under which the Contract is issued, your spousal Beneficiary may elect either (i) to receive a death benefit in accordance with one of the forms permitted under the provisions of this Contract (if the Account Value is greater than zero), (ii) continue this Contract and IncomeLOCK (except as noted below) or (iii) continue the Contract and cancel IncomeLOCK and its accompanying charge. Spousal continuation of the Contract (and IncomeLOCK) is not available if the Contract was set up under one of the following "qualified" plan types: 403(b), 401(k), 401(a) or 457(b). For these Contracts, a spousal Beneficiary, like a non-spousal Beneficiary, cannot continue IncomeLOCK and must take a death benefit under the terms of the Contract. A spousal Beneficiary may

continue IncomeLOCK but only for nonqualified Contracts and IRA plan types (Roth IRA, traditional IRA, SEP, and Simple IRA). Upon election to continue the Contract and IncomeLOCK, your spousal Beneficiary will be subject to the terms and conditions of IncomeLOCK, including the charge. Upon the owner's death, lifetime withdrawals under the IncomeLOCK end and are not available to your spousal Beneficiary. In this event, available withdrawals under IncomeLOCK are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken. The Endorsement Date will not change as the result of spousal continuation.

*Non-Spousal Beneficiary* 

Upon the death of the Contract Owner, if the Account Value is greater than zero, IncomeLOCK will terminate, and your nonspousal Beneficiary(ies) must receive a death benefit in accordance with the otherwise applicable terms of this Contract. If the Account Value is zero upon your death (meaning that no death benefit is payable) but the MWP remaining is greater than zero, a nonspousal beneficiary will receive the remaining value in a lump sum equal to the discounted present value of any remaining guaranteed payments under IncomeLOCK. Upon your death, lifetime withdrawals under the IncomeLOCK end and any available withdrawals under this Endorsement are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken.

**Loans** 

If you elected IncomeLOCK prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**Examples** 

*IncomeLOCK +6 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +6 features.

Example 1:

Assume you elect IncomeLOCK elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your Income Credit on the 1st Contract anniversary is the Income

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Credit Percentage (6%) multiplied by the Income Credit Base ($100,000) which equals $6,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($6,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $106,000 = $5,300). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,300 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $106,000 = $4,240). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,240 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5300 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $125080 | $118000 | $7080 | $6254 |
| 4th | $110000 | $132160 | $118000 | $7080 | $6608 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $159000 | $150000 | $9000 | $7950 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $159,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $7,950 (5% of the $159,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $7,950 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $159,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $159,000 = $6,360). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,360 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($7,950), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $7,950), or $4,980. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $7,950. Your Account Value after this portion of the withdrawal is $101,460 ($109,410 — $7,950), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,980 / $101,460 = 4.91%). The Benefit Base is adjusted to $151,193, or $159,000 x 95.09%. The Income Credit Base is adjusted to $142,635 or $150,000 x 95.09%. Your new Income Credit is 6% of your new Income Credit Base (6% x $142,635), which equals $8,558. Your new MAWA is your Benefit Base multiplied by your MAWP ($151,193 x 5%), which equals $7,560. Therefore, if you do not take additional excess withdrawals, you may take up to $7,560 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $151,193, then your Protected Income Payment is 4% of the Benefit Base (4%x$151,193=$6,048). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,048 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |

---

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |
| 9th | $103000 | $154000 | $100000 | $6000 | $8470 |
| 10th | $103000 | $160000 | $100000 | $6000 | $8800 |
| 11th | $103000 | $166000 | $100000 | $6000 | $9130 |

---

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($172,000 = $166,000 + $6,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 9th | $98560 | $151000 | $100000 | $3000 | $8305 |
| 10th | $91010 | $152000 | $100000 | $1000 | $8360 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $148,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $8,140 (5.5% of the $148,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,440 (3% of the $148,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,560 ($103,000 — $4,440). Your Net Income Credit Percentage equals 3% (6% — 3%). Therefore, your new Income Credit is 3% of your Income Credit Base (3% x $100,000), which is $3,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,560) or your Income Credit plus your current Benefit Base ($151,000 = $3,000 + $148,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $7,550 (5% of the $151,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $91,010 ($98,560 — $7,550). Your new Income Credit is 1% (6% — 5%) of your Income Credit Base (1% x $100,000), which is $1,000. Your Benefit Base is equal to the greatest of your Account Value ($91,010) or your Income Credit plus your current Benefit Base ($152,000 = $1,000 + $151,000).

On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $8,360 (5.5% of the $152,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $8,360 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $152,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $152,000 = $6,080). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,080 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK +8 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +8 features.

Example 1:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your

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Income Credit on the 1st Contract anniversary is the Income Credit Percentage (8%) multiplied by the Income Credit Base ($100,000) which equals $8,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($8,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $108,000 = $5,400). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,400 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $108,000 = $4,320). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,320 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5400 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $127440 | $118000 | $9440 | $6372 |
| 4th | $110000 | $136880 | $118000 | $9440 | $6844 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $162000 | $150000 | $12000 | $8100 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $162,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $8,100 (5% of the $162,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $8,100 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $162,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $162,000 = $6,480). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess

Withdrawal, you are guaranteed an income of $6,480 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($8,100), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $8,100), or $4,830. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,100. Your Account Value after this portion of the withdrawal is $101,310 ($109,410 — $8,100), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,830 / $101,310 = 4.77%). The Benefit Base is adjusted to $154,277, or $162,000 x 95.23%. The Income Credit Base is adjusted to $142,849 or $150,000 x 95.23%. Your new Income Credit is 8% of your new Income Credit Base (8% x $142,849), which equals $11,428. Your new MAWA is your Benefit Base multiplied by your MAWP ($154,277 x 5%), which equals $7,714. Therefore, if you do not take additional excess withdrawals, you may take up to $7,714 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $154,277, then your Protected Income Payment is 4% of the Benefit Base (4%x$154,277=$6,171). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,171 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values,

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Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $7480 |
| 7th | $103000 | $156000 | $100000 | $8000 | $7810 |
| 8th | $103000 | $164000 | $100000 | $8000 | $8140 |
| 9th | $103000 | $172000 | $100000 | $8000 | $8470 |
| 10th | $103000 | $180000 | $100000 | $8000 | $8800 |
| 11th | $103000 | $188000 | $100000 | $8000 | $9130 |
| 12th | $103000 | $200000 | $200000 | N/A\* | $11000 |

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($196,000 = $188,000 + $8,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $8140 |
| 7th | $103000 | $156000 | $100000 | $8000 | $8580 |
| 8th | $103000 | $164000 | $100000 | $8000 | $9020 |
| 9th | $98080 | $169000 | $100000 | $5000 | $9295 |
| 10th | $89630 | $172000 | $100000 | $3000 | $9460 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $164,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $9,020 (5.5% of the $164,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,920 (3% of the $164,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,080 ($103,000 — $4,920). Your Net Income Credit Percentage equals 5% (8% — 3%). Therefore, your new Income Credit is 5% of your Income Credit Base (5% x $100,000), which is $5,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,080) or your Income Credit plus your current Benefit Base ($169,000 = $5,000 + $164,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $8,450 (5% of the $169,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $89,630 ($98,080 — $7, 8450). Your new Income Credit is 3% (8% — 5%) of your Income Credit Base (3% x $100,000), which is $3,000. Your Benefit Base is equal to the greatest of your Account Value ($89,630) or your Income Credit plus your current Benefit Base ($172,000 = $3,000 + $169,000). On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $9,460 (5.5% of the $172,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $9,460 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $172,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $172,000 = $6,880). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,880 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK Examples* 

The five examples below demonstrate the operation of the IncomeLOCK features.

Example 1:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 1st Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On your 1<sup>st</sup> Benefit Anniversary, your Account Value is $105,000

Your initial Benefit Base is equal to 100% of your Eligible Purchase Payments, or $100,000. On your first Benefit Anniversary, your Benefit Base is equal to the greater of your current Benefit Base ($100,000), or your Account Value ($105,000), which is $105,000. Your Maximum Annual Withdrawal Amount if you were to start taking withdrawals following your first Benefit Anniversary is 5% of the Benefit Base (5% x $105,000 = $5,250). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 20 years ($105,000 divided by $5,250). Therefore, as of your 1st Benefit Anniversary, you may take $105,000 in withdrawals of up to $5,250 annually over a minimum of 20 years. However, if the first withdrawal occurs on or after the Benefit Anniversary following the older owner's 65th birthday and no withdrawal ever exceeds 5% of each year's Benefit Base, then all such withdrawals are guaranteed for the lifetime of the older owner and the Minimum Withdrawal Period does not apply unless lifetime withdrawals are terminated.

Example 2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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On your 5th Benefit Anniversary, your Account Value is $120,000, and your Benefit Base is stepped-up to $120,000. If you were to start taking withdrawals after this anniversary date, your Maximum Annual Withdrawal Amount would be 7% of the Benefit Base (7% x $120,000 = $8,400). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 14.28 years ($120,000 divided by $8,400). Therefore, as of your 5th Benefit Anniversary, you may take $120,000 in withdrawals of up to $8,400 annually over a minimum of 14.28 years.

Example 3 – The impact of withdrawals that are less than or equal to the Maximum Annual Withdrawal Amount

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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During your 6th Benefit Anniversary, after your 5th Benefit anniversary, you make a withdrawal of $4,500. Because the withdrawal is less than or equal to your Maximum Annual Withdrawal Amount ($8,400), your Benefit Base ($120,000) is reduced by the total dollar amount of the withdrawal ($4,500) on your next Benefit Anniversary. Your new Benefit Base equals $115,500. Your Maximum Annual Withdrawal Amount remains $8,400. Your new Minimum Withdrawal Period following the withdrawal is equal to the new Benefit Base divided by your current Maximum Annual Withdrawal Amount ($115,500 divided by $8,400). Therefore, following this first withdrawal of $4,500, you may take annual withdrawals of up to $8,400 over the next 13 years, and $6,300 in the 14th (last) Benefit Year.

Example 4 — The impact of withdrawals that are in excess of the maximum annual withdrawal amount:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

---

Assume that during your 6th Benefit Year, after your 5th Benefit Anniversary, you make a withdrawal of $11,688 and your Account Value at your next Benefit Anniversary is $118,000. Because the withdrawal is greater than your Maximum Annual Withdrawal Amount ($8,400), this withdrawal includes an excess withdrawal. In this case, the amount of the excess withdrawal is the total amount of the withdrawal less your

------

Maximum Annual Withdrawal Amount ($11,688 - $8,400), or $3,288. On your next Benefit Anniversary, we first process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,400 from the Account Value and the Benefit Base. Your Account Value after this portion of the withdrawal is $109,600 ($118,000 - $8,400). Your Benefit Base after this portion of your withdrawal is $111,600 ($120,000 - $8,400). Next, we recalculate your Benefit Base by taking the lesser of two calculations. For the first calculation, we deduct the amount of the Excess Withdrawal from the Benefit Base ($111,600 - $3,288 = $108,312). For the second calculation, we reduce the Benefit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal. This is accomplished by taking the Benefit Base on the prior Benefit Anniversary ($120,000) less the portion of your withdrawal that

is not the Excess Withdrawal ($8,400) and multiplying this result ($111,600) by 1 minus the Excess Withdrawal ($3,288) divided by the sum of the Account Value on the Benefit Anniversary ($118,000) and the Excess Withdrawal ($3,288) or ($118,000 + $3,288 = $121,288). This calculation equals $108,576 [$111,600 x (1 - $3,288/$121,288) or $111,600 x 97.29%, which equals $108,576]. Your Benefit Base is $108,312, which is the lesser of these two calculations. The Minimum Withdrawal Period following the excess withdrawal is equal to the Minimum Withdrawal Period at the end of the prior year (14.28 years) reduced by one year (13.28 years). Your new Maximum Annual Withdrawal Amount following the excess withdrawal is your Benefit Base divided by your Minimum Withdrawal Period ($108,312 divided by 13.28), which equals $8,156.02.

------

**Appendix C — State Contract Variability** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Prospectus** | **Provision Availability or Variation** | **Issue State** |
| Free Look | Free Look period is 20 days or 30 days if this is a replacement. The Free Look amount is the return of all <br> purchase payments allocated to the contract.<br>| Alaska |
| Free Look | If you are age 65 or older on the Contract issue date, the Free Look period is 30 days. | Arizona |
| Free Look | If you are age 60 or older on the Contract issue date, the Free Look period is 30 days. If you invest in the <br> Fixed Account, the Free Look amount is calculated as the Purchase Payments paid. If you invest in <br> Variable Investment Options, the Free Look amount is calculated as the greater of (1) Purchase <br> Payments or (2) the value of your Contract plus any fees paid on the day we received your request in <br> good order at the Annuity Service Center.<br>| California |
| Free Look | The Free Look period is 21 days and the amount is calculated as the value of your Contract plus fees and <br> charges on the day we receive your request in good order at the Annuity Service Center.<br>| Florida |
| Free Look | The Free Look period is 20 days. | Idaho<br> North Dakota<br> Rhode Island<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the value of your Contract plus fees and charges on the day we <br> received your request in good order at the Annuity Service Center.<br>| Michigan<br> Minnesota<br> Missouri<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the greater of (1) Purchase Payments including fees and charges <br> or (2) the value of your Contract on the day we receive your request in good order at the Annuity Service <br> Center.<br>| Arkansas |
| Free Look | The Free Look period is 20 days. The Free Look amount is the purchase payments made to the fixed <br> interest options and the accumulation value of the variable options on the day the contract is returned. <br> The Free Look period is 60 days for a replacement.<br>| New York |
| DCA Program | If the DCA Program is elected in Alaska, the Multi-Year Option is not available. | Alaska |
| DCA Program | If the DCA Program is elected in Oregon, the minimum required amount is $5,000. | Oregon |
| Death Benefit | Standard Death Benefit is paid on or after age 70 | New York |
| Death Benefit | For Contracts issued on or after March 5, 2012, the interest guaranteed death benefit is available on <br> individual nonqualified Contracts, Roth IRAs or IRAs (issued outside of an employer-sponsored <br> retirement plan) if death occurs prior to age 70; the standard death benefit is payable if death occurs on <br> or after age 70. For Contracts issued in connection with an employer-sponsored retirement plan, only <br> the standard death benefit is payable.<br>| Florida |
| Surrender Charge | For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to <br> withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds <br> withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to <br> Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued <br> on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lessor <br> of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received <br> during the most recent 60 months; or five percent (5%) of the total amount withdrawn.<br>| Oregon |
| Surrender Charge | For ten years from the date the Certificate was issued the charge will be 5% of either (1) the amount <br> withdrawn, or (2) the amount of any Purchase Payments received during the most recent 60 months <br> prior to the surrender or withdrawal, whichever is less. During the eleventh and twelfth Certificate Years, <br> the charge will be the lesser of the charge as described above or 1% of the amount withdrawn.<br>| Texas |
| Premium Tax | We deduct premium tax charges of 0.50% for Qualified Contracts and 2.35% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| California |
| Premium Tax | We deduct premium tax charges of 2.0% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Maine |
| Premium Tax | We deduct premium tax charges of 3.5% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Nevada |
| Premium Tax | For the first $500,000 in the Contract, we deduct premium tax charges of 1.25% for Non-Qualified <br> Contracts based on total Purchase Payments when you begin the Payout Period. For any amount in <br> excess of $500,000 in the Contract, we deduct front-end premium tax charges of 0.08% for Non-<br> Qualified Contracts based on total Purchase Payments when you begin the Payout Period.<br>| South Dakota |
| Premium Tax | We deduct premium tax charges of 1.00% for Qualified Contracts and 1.00% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| West Virginia |
| Premium Tax | We deduct premium tax charges of 1.00% for Non-Qualified contracts based on total Purchase <br> payments when you begin the Payout Period.<br>| Wyoming |

---

------

**Appendix D — Index Information**

------

The Contract is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Contract. The Corporations make no representation or warranty, express or implied to the owners of the Contract or any member of the public regarding the advisability of investing in securities generally or in the Contract particularly, or the ability of the Nasdaq 100 to track general stock market performance. The Corporations' only relationship to the Company ("Licensee") is in the licensing of the Nasdaq® and certain trade names of the Corporations and the use of the Nasdaq 100 which is determined, composed, and calculated by Nasdaq without regard to Licensee or the Contract. Nasdaq has no obligation to take the needs of the Licensee or the owners of the Contract into consideration in determining, composing, or calculating the Nasdaq 100. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Contract to be issued or in the determination or calculation of the equation by which the Contract is to be converted into cash. The Corporations have no liability in connection with the administration, marketing, or trading of the Contract.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE CONTRACT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ 100® OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

------

The Statement of Additional Information (SAI) contains additional information about the Contract, the Company, and the Separate Account, including financial statements. The SAI is dated the same date as this prospectus, and the SAI is incorporated by reference into this prospectus. To request a free copy of the SAI, request other information about the Contracts, or make investor inquiries, you may contact us by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mailing: Annuity Service Center, P.O. Box 15648, Amarillo, Texas 79105

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calling: 1-800-448-2542

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Visiting: www.corebridgefinancial.com/rs/prospectus-and-reports/annuities

You may also obtain reports and other information about the Separate Account on the SEC's website at www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier: C000242994 (For contracts purchased after December 29, 2006)

EDGAR Contract Identifier: C000242998 (For contracts purchased on or before December 29, 2006)

<sup>©</sup> 2026 Corebridge Financial, Inc. <br>All Rights Reserved.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Portfolio Director**<sup>®</sup> <br>|
| **Prospectus** |
| **For Series 1.40 to 12.40** |
| **Units of Interest Under Group and Individual Fixed and Variable Deferred Annuity Contracts** |
| Issued By |
| **The Variable Annuity Life Insurance Company** |
| In Connection With |
| **Variable Annuity Life Insurance Company Separate Account A** |

---

May 1, 2026

The Variable Annuity Life Insurance Company ("VALIC") offers certain series of Portfolio Director comprising group and individual fixed and variable deferred annuity contracts for Participants who receive certificates in certain employer-sponsored qualified retirement plans (the "Contracts"). The Contract is available as an individual retirement account (IRA) or as a non-qualified contract. Non-qualified contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan. The Contracts permit Participants to invest in and receive retirement benefits in one or more Fixed Account Options and/or an array of Variable Investment Options described in this prospectus. If your Contract is part of your employer's retirement program, that program will describe which Variable Investment Options are available to you. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, those Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans will not be available within your Contract. Please see ***Appendix A*** of this prospectus for more information about the Variable Investment Options available within this Contract.

Any guarantees under the Contract, including the death benefit, that exceed the value of your interest in the Variable Annuity Life Insurance Company Separate Account A ("Separate Account") are paid from our General Account, which is the Company's account and includes any amounts you allocate to Fixed Account Options including any interest thereon. Therefore, any amounts or obligations that we may pay under the Contract in excess of your interest in the Separate Account are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

**This prospectus provides information employers and Participants should know before investing in the Contracts and will help each make decisions for selecting various investment options and benefits. Please read and retain this prospectus for future reference. The Contract is a complex investment and involves risks that may cause the value of the Contract Owner's investment to fluctuate including potential loss of principal. When the Contract is surrendered, the value may be higher or lower than the Purchase Payments. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties, as applicable.** 

This prospectus describes 12 different Classes of the Contract. There are differences among these Classes with respect to surrender charges, other fees and charges, restrictions, and features. Each Class is offered to certain group plans or through certain markets and certain Classes are no longer available for new sales. We refer to these Classes as "series" in the Contract and in marketing materials. For more information about the series available within this Contract, see *"General Description of the Contracts - About the Series"* below.

The owner of a group Contract (meaning an employer purchasing the Contract for a retirement plan) or the owner of an individual Contract may cancel a newly purchased Contract within 20 days of receiving it without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract value. You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply. The right of cancellation under this Contract does not apply to Participants in a group plan except in a limited number of states. **VALIC may limit, refuse to accept or cease accepting Purchase Payments in the Contract or in a Fixed Account Option with advance notice. This means that you would no longer be able increase your Contract value, death benefit, or any living benefits through Purchase Payments. See *"Variable Investment Options and Fixed Account Options"* below.** 

**The Securities and Exchange Commission ("SEC") has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov.

------

**Table of Contents** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| **[Glossary of Terms](#xx_8f7d137a-2c4b-496c-a494-4ed858a4bbb5_1)** | 3 |
| **[Overview of the Contract](#xx_70fa270d-1d09-4c43-b116-0eaa9c134960_1)** | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_70fa270d-1d09-4c43-b116-0eaa9c134960_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_70fa270d-1d09-4c43-b116-0eaa9c134960_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_70fa270d-1d09-4c43-b116-0eaa9c134960_2) | 6 |
| **[Key Information](#xx_00da4653-3296-4516-a211-025646dcf136_1)** | 7 |
| **[Fee Table](#xx_0e2af878-daa1-4e19-a2b7-34f27e6711eb_1)** | 12 |
| **[Principal Risks of Investing in the Contract](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_1)** | 17 |
| **[Description of Insurance Company, Registered Separate](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_3)**<br> **[Account, and Investment Options](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_3)**<br>| 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Administration of the Contracts](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC Separate Account A](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Units of Interest](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [American Home Assurance Company](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_4) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distribution of the Contracts](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_4) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options and Fixed Account](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_5)<br> [Options](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_5)<br>| 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_5) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Voting Rights](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Who May Give Voting Instructions](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Determination of Portfolio Company Shares](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_6)<br> [Attributable to Your Account](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_6)<br>| 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [How Portfolio Company Shares Are Voted](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Options](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_7) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Fixed Accounts](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_8) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Program](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_8) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_9) | 25 |
| **[Charges and Adjustments](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_9)** | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Maintenance Charge (Series 1 and 9](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_9)<br> [Contracts Only)](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_9)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_9)<br> [Contracts Only)](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_9)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Plus Excess Transfer Charge (Series 11](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_10)<br> [Contracts Only)](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_10)<br>| 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium Tax Charge](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_11) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account Charges](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_11) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payments from Portfolio Companies/Platform](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_12)<br> [Charges](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_12)<br>| 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Multi-Year Enhanced Option Adjustment](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Company Expenses](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Living Benefit Fees](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program Fees](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Charges](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchange Privilege](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_13) | 29 |
| **[General Description of Contracts](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_13)** | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Contracts](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the General Account](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Series](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers Among the Investment Options](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_14) | 30 |

---

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Contract Features](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_16) | 32 |
| **[Annuity Period](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_17)** | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Fixed Basis](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_17) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Assumed Investment Rate](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_17) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Variable Basis](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Combination of a Fixed and](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_18)<br> [Variable Basis](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_18)<br>| 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Annuitization](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Date](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Options](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Information](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_19) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees on Payout](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_19)<br> [Payments](#xx_29e3506e-d5dd-452d-9474-0cd9d9fd3c17_19)<br>| 35 |
| **[Benefits Available Under the Contract](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_1)** | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_6) | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Death Benefits](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_8) | 43 |
| **[Purchases and Contract Value](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_10)** | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Establishment](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_10) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Your Account Will Be Credited](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_11) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purchase Units](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Fixed Account Options](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Variable Investment Options](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Stopping Purchase Payments](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Principal Underwriter](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Deduction of Advisory Program Fee on](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13)<br> [Purchase Payments](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13)<br>| 48 |
| **[Surrenders and Withdrawals](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13)** | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Surrenders Are Allowed](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Process](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount That May Be Surrendered](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Restrictions](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrenders](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Systematic Withdrawals](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distributions Required by Federal Tax Law](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cancellation](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15)[— The](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15)["Free Look" Period](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15) | 50 |
| **[Loans](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15)** | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Interest Charged for a Loan](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Effects of a Loan on Account Value, Payout](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15)<br> [Payments and the Death Benefit](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_15)<br>| 50 |
| **[Taxes](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_16)** | 51 |
| **[Legal Proceedings](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_24)** | 59 |
| **[Financial Statements](#xx_bd7ba7b7-0230-4829-b5ab-29ab901c2586_24)** | 59 |
| **[Appendix A — Investment Options Available Under the](#xx_cf005182-79d1-4894-b31b-31ca14c269f1_1)**<br> **[Contract](#xx_cf005182-79d1-4894-b31b-31ca14c269f1_1)**<br>| A-1 |
| **[Appendix](#xx_477643dc-71c4-4d90-a9f7-71787b67dca8_1)[B — Living Benefits](#xx_477643dc-71c4-4d90-a9f7-71787b67dca8_1)** | B-1 |
| **[Appendix](#xx_af3a3115-4e81-4b79-9729-fc9dfb366c2f_1)[C — State Contract Variability](#xx_af3a3115-4e81-4b79-9729-fc9dfb366c2f_1)** | C-1 |
| **[Appendix](#xx_5bca2707-70bc-49a3-9f6c-1eca694505bd_1)[D — Index Information](#xx_5bca2707-70bc-49a3-9f6c-1eca694505bd_1)** | D-1 |

---

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**Glossary of Terms**

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Unless otherwise specified in this prospectus, the words "we," "us," "our," "Company," and "VALIC" mean The Variable Annuity Life Insurance Company and the words "you" and "your" mean the Participant, or the individual purchasing an individual Contract.

Other specific terms we use in this prospectus are:

**Account Value** — the total sum of your Fixed Account Option(s) and/or Variable Investment Option(s) that have not yet been applied to your annuity payments.

**Advisory Program** — the investment advice service provided by your Investment Adviser. Guided Portfolio Advantage<sup>SM</sup> / Guided Portfolio Services<sup>®</sup> are the financial advice services offered by our affiliate, VFA, a registered investment adviser and an affiliate of VALIC. A separate investment advisory fee and agreement are required for either of these services, if available under an employer's retirement plan. Alternatively, you may have enrolled in an Advisory Program offered by a third-party investment adviser who is not affiliated with us. There may also be an advisory fee required by that adviser. You should ask your investment adviser about any fees charged for investment advice provided. *For new investors, we no longer honor investment adviser transfer requests in connection with Advisory Programs that are offered through third-party Investment Advisers.*

**Annuitant** — the individual (in most cases, you) to whom Payout Payments will be paid.

**Annuity Service Center** — Retirement Services Center, P.O. Box 15648, Amarillo, Texas 79105.

**Assumed Investment Rate** — the rate used to determine your first monthly payout payment per thousand dollars of account value in your Variable Investment Option.

**Beneficiary** — the individual designated to receive the death benefit or Payout Payments upon the death of the Annuitant.

**Business Day** — any weekday that the New York Stock Exchange ("NYSE") is open for trading. Normally, the NYSE is open Monday through Friday, from 9:30 a.m. to 4:00 p.m. Eastern Time. Business Days do not include U.S. holidays or other days when the NYSE is closed.

**Code** — the Internal Revenue Code of 1986, as amended.

**Contract Owner** — the individual or entity to whom the Contract is issued. For a group Contract, the Contract Owner will be the employer purchasing the Contract for a retirement plan.

**Division** — the portion of the Separate Account invested in a particular Portfolio Company. Each Division is a subaccount of VALIC Separate Account A.

**Fixed Account Option** — an account, where available, in which you may invest and is guaranteed to earn at least a minimum rate of interest while invested and an obligation of VALIC's General Account.

**Home Office** — located at 2919 Allen Parkway, Houston, Texas 77019.

**Investment Adviser** — the investment adviser that you have engaged to provide services as part of an Advisory Program. The Investment Adviser may have been engaged through a third party. For new investors, we only support Advisory Programs that are offered through VFA. There are typically advisory fees associated with an Advisory Program. Those fees are separate from the Contract's fees and charges.

VALIC is not an investment adviser to any Advisory Program and does not provide any advice under an Advisory Program.

**Living Benefit** — an optional guaranteed minimum withdrawal benefit designed to help you create a guaranteed income stream for a specified period of time or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if your entire Account Value has been reduced to zero. IncomeLOCK<sup>®</sup> +6, IncomeLOCK<sup>®</sup> +8 (together, "IncomeLOCK Plus") and IncomeLOCK<sup>®</sup> are no longer available for purchase. *See "Appendix B – Living Benefits" for information on these Living Benefits*.

**Market Close** — the close of regular trading on the NYSE, generally 4:00 p.m., Eastern Time, on each day the NYSE is open for business.

**Net Purchase Payments** — the total sum of Purchase Payments minus withdrawals and charges.

**Participant** — the individual (in most cases, you) who makes purchase payments or for whom purchase payments are made.

**Participant Year** — a 12-month period starting with the issue date of a Participant's Contract certificate and each anniversary of that date.

**Payout Payments** — annuity payments withdrawn in a steady stream during the Payout Period.

**Payout Period** — the time when you begin to withdraw your money in Payout Payments. It may also be called the "Annuity Period."

**Payout Unit** — a measuring unit used to calculate Payout Payments from your Variable Investment Option. Payout Units measure value, which is calculated just like the Purchase Unit value for each Variable Investment Option except that the initial Payout Unit includes a factor for the Assumed Investment Rate selected. Payout Unit values will vary with the investment experience of the VALIC Separate Account A Division.

**Platform Charge** — a fee we charge in order to make certain underlying Portfolio Companies available as an investment option under the Contract.

**Portfolio Company** — the investment portfolio(s) of a registered open-end management investment company, which serves as

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the underlying investment vehicle for each Division represented in VALIC Separate Account A. Also referred to as Mutual Fund or Fund.

**Proof of Death** — a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death, a written statement by an attending physician, or any other proof satisfactory to VALIC.

**Purchase Payments** — an amount of money you or your employer pay to VALIC to receive the benefits of a Contract.

**Purchase Period** — the accumulation period or time between your first Purchase Payment and the beginning of your Payout Period (or surrender). It also may be called the "Accumulation Period."

**Purchase Unit** — a unit of interest owned by you in your Variable Investment Option.

**Statement of Additional Information or SAI** — a supplementary document that provides additional information about your Contract. This document is not part of the prospectus and should be read only in conjunction with the prospectus for your Contract.

**Systematic Withdrawals** — payments withdrawn on a regular basis during the Purchase Period.

**VALIC Separate Account A or Separate Account** — a segregated asset account established by VALIC under the Texas Insurance Code. The purpose of the VALIC Separate Account A is to receive and invest your Purchase Payments and Account Value in the Variable Investment Option, if selected.

**Variable Investment Option** — investment options that correspond to Separate Account Divisions available under the Contracts.

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**Overview of the Contract** 

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**Purpose of the Contract** 

The Contract is designed to help you invest on a tax-deferred basis, meet long-term financial goals, and plan for your retirement. You can accumulate assets by investing in the Contract's Investment Options and then later convert those accumulated assets into a stream of guaranteed income payments from us. The Contract includes a death benefit that may help financially protect your Beneficiary or Beneficiaries in the event of your death. The optional Living Benefits under the Contract are designed to help you achieve your financial goals and protect against certain financial risks, although the optional Living Benefits are no longer available for purchase.

This Contract may be appropriate for you if you have a long investment time horizon and the Contract's terms and conditions are consistent with your financial goals. It is not intended for people whose liquidity needs require early or frequent withdrawals or for people who intend to frequently trade in the Contract's Investment Options.

The Contract is primarily used in connection with employer-sponsored qualified retirement plans, for which the employer is the Contract owner and participating employees receive certificates related to the Contract, and IRAs. Nonqualified Contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan.

If you are enrolled in an Advisory Program, Advisory Program fees deducted from your Contract may reduce the death benefit, optional living benefit and any annuity benefits, and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Advisory Program** in the "*Benefits Available Under the Contract*" section later in this prospectus.

**Phases of the Contract** 

Like all deferred annuities, the Contract has two phases: (1) a Purchase Period (for savings) and (2) a Payout Period (for income).

**Purchase Period.** During the Purchase Period, you invest your money under the Contract in one or more available Investment Options to help you build assets on a tax-deferred basis. The available Investment Options may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Variable Investment Options.** When you invest in a Variable Investment Option, you are indirectly investing in the Variable Investment Option's underlying Portfolio Company. The Portfolio Companies have different investment objectives, strategies, and risks. You can gain or lose money if you invest in a Variable Investment Option. <br>**Additional information about each Portfolio Company is provided in an appendix to this prospectus. Please see APPENDIX A – INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fixed Account Options.** When you invest in a Fixed Account Option (Fixed Account Plus, Short-Term Fixed Account, Multi-Year Enhanced Option, or a DCA Fixed Account), your principal is guaranteed and earns interest based on a rate set and guaranteed by us. However, if you make an early withdrawal or transfer from a Multi-Year Enhanced Option, the withdrawal or transfer may be subject to a market value adjustment that may reduce the value of your investment.

The amount of money you accumulate during the Purchase Period depends (in part) on the performance of the Investment Options you choose. You may transfer money between Investment Options during the Purchase Period, subject to certain restrictions. Your accumulated assets impact the value of your benefits during the Purchase Period, including the death benefit and any optional Living Benefit, as well as the amount available for withdrawal.

**Payout Period.** When you are ready to receive guaranteed income under the Contract, you can switch to the Payout Period, at which time you will start to receive Payout Payments from us. This is also referred to as "annuitizing" the Contract. You generally decide when to annuitize. You can choose from the available payout options, which may provide income for life, for a guaranteed period of time, or a combination of both. You can also choose to receive Payout Payments on a variable or fixed basis, or a combination of both. If the Payout Payments are made on a fixed basis, the dollar amount of each payment will be the same. If the Payout Payments are made on a variable basis, the dollar amount for the payments will fluctuate.

The death benefit from the Purchase Period does not apply during the Payout Period. Any amount payable upon death during the Payout Period depends on the payout option selected. You cannot take withdrawals of Account Value or surrender the Contract during the Payout Period. If you have an optional Living Benefit at the time of annuitization, you may choose to take Payout Payments in accordance with that Living Benefit. Otherwise, your optional Living Benefit terminates at the beginning of the Payout Period.

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**Contract Features** 

**Contract Series.** This prospectus describes 12 different Classes of the Contract, which we call series. There are differences among the series with respect to surrender charges, other fees and charges, restrictions, and features. Each series is offered to certain group plans or through certain markets. Certain series are no longer available for new sales.

**Retirement Plan Terms and Conditions.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. However, it is also offered as an IRA or a non-qualified contract. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law, which may limit your ability to take certain actions under the Contract.

**Accessing Your Money.** You may withdraw money from the Contract at any time during the Purchase Period. If you make a withdrawal, you may have to pay a surrender charge and/or federal and state income taxes, including a tax penalty if you are younger than age 59½. Withdrawals may negatively impact the value of your benefits under the Contract and may cause an optional Living Benefit to terminate.

**Tax Treatment.** Money can be transferred between Investment Options without tax implications, and earnings (if any) on your investments are generally tax-deferred. Earnings and untaxed contributions are not taxed until they are distributed, which may occur when making a withdrawal, upon receiving a Payout Payment, or upon payment of the death benefit. You do not receive any additional tax benefit under the Contract if you participate in the Contract through a tax-qualified plan or you purchase the Contract through an IRA.

**Death Benefit.** If you die during the Purchase Period, we pay a death benefit to your Beneficiary or Beneficiaries. The Contract has two possible death benefits (interest guaranteed death benefit and standard death benefit), both of which are automatically included in the Contract for no additional fee.

**Optional Living Benefits.** Each optional Living Benefit is a guaranteed minimum withdrawal benefit that is designed to help you create a guaranteed income stream, provided that withdrawals are taken within the parameters of the applicable feature. The optional Living Benefits under the Contract are no longer available for purchase.

**Additional Features and Services.** Additional features and services under the Contract are summarized below. There are no additional charges associated with these features and services unless otherwise noted. Not all features and services may be available under your Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **No Charge Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period without surrender charges, subject to certain requirements related to the duration and amount of the automatic withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Loans.** Tax-free loans may be taken under tax-qualified Contracts (other than IRAs), providing additional access to your money in the Fixed Account Options (excluding Multi-Year Enhanced Options). You will incur interest on an outstanding loan. Loans are subject to restrictions, including a $1,000 minimum loan amount. You may not be able to take a loan under your Contract. We charge up to $75 for a loan application fee for each loan if permissible by your state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Guided Portfolio Advantage**<sup>SM</sup> **("GPA")/Guided Portfolio Services**<sup>®</sup> **("GPS").** GPA and GPS are advisory services offered by VFA to help manage your Account Value. A separate investment advisory fee and agreement is required for these services, if available under an employer's retirement plan. More information about GPA and GPS may be requested by contacting VFA at 866-544-4968 and is also available free of charge on our website at www.corebridgefinancail.com/rs/prospectus-and-reports/vfa-form-adv-materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **American Home Guarantee.** If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Dollar Cost Averaging (DCA) Program.** The DCA program is a systematic transfer of a specified percentage from the DCA Fixed Account to one or more eligible investment options over a specified period of time. Automatic transfers do not count towards the number of free transfers per contract year. DCA may not be available in employer sponsored plans.

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**Key Information**

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**Important Information You Should Consider About the Contract** 

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| | | |
|:---|:---|:---|
|  | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in** <br>**Prospectus**<br>|
| **Are There Charges for** <br> **Early Withdrawals?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. Your Contract may be subject to surrender charges depending on the <br> series of Contract:<br>•**Series 1, 3, 4, 5, 7, 8, 9, and 10**. If you withdraw money under the <br> Contract within five years of making a Purchase Payment, you will be <br> assessed a surrender charge of up to 5%, either as a percentage of the <br> amount withdrawn or as a percentage of Purchase Payments made during <br> the last five years, whichever is less.<br>•**Series 2, 6, 11, and 12**. No surrender charge.<br> For example, if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract and make <br> an early withdrawal, you could pay a surrender charge of up to $5,000 on a <br> $100,000 investment and such surrender charge may be greater if subject to <br> taxes or tax penalities. No surrender charges would apply to a series 2, 6, 11, <br> or 12 Contract.<br> You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option). | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments –** <br> **Surrender Charge**<br>|
| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. In addition to surrender charges (if applicable), you may also be <br> charged for other transactions.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•In certain states, you may be subject to a loan application fee and loan <br> interest if you request a loan under the Contract.<br>•Under a series 11 contract, if you transfer amounts from the Fixed Account <br> Plus option to another Investment Option under the Contract (or another <br> funding entity) in excess of the annual limit, you may be subject to a <br> charge of 5% on the excess amount transferred.<br>•There may also be taxes on Purchase Payments. | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments**<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Annual Fee** | **Minimum** | **Maximum** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Base Contract<sup>1</sup> <br>(varies by Contract Class)<br>| 0.60% | 0.61% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Portfolio Company fees and <br> expenses<sup>2</sup> <br>| 0.20% | 1.18% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Optional Benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<br>| 0.65%<sup>3</sup> | 3.10%<sup>4</sup> | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Lowest Annual Cost: $817** | **Highest Annual Cost: $4,898** | **Highest Annual Cost: $4,898** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Contract Classes and Portfolio <br> Company fees and expenses<br> •No optional benefits<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals<br>| &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |

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|:---|:---|:---|
|  | **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Is There a Risk of Loss** <br> **from Poor** <br> **Performance?**<br>| &nbsp;&nbsp; **Yes**. You can lose money by investing in this Contract, including your <br> principal investment. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **Is this a Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp;&nbsp; •**No**. This Contract is not a short-term investment and is not appropriate for <br> an investor who needs ready access to cash. Amounts withdrawn from <br> series 1, 3, 4, 5, 7, 8, 9, or 10 Contract may result in surrender charges, <br> taxes and tax penalties. Surrender charges could significantly reduce the <br> amount that you receive upon taking a withdrawal. Withdrawals may also <br> reduce or terminate Contract guarantees and may result in taxes and tax <br> penalties.<br>•If you select the Fixed Account Plus option for investment, your ability to <br> transfer amounts from that option is subject to an annual limit. It may take <br> several years to transfer all amounts from the Fixed Account Plus option. <br> Under a series 11 Contract, if you transfer amounts from the Fixed Account <br> Plus option in excess of that annual limit (including withdrawals from the <br> Fixed Account Plus option for the purpose of transferring assets to another <br> funding entity), you may be subject to a charge.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•The benefits of tax deferral, long-term income, and optional Living Benefit <br> guarantees mean the Contract is generally more beneficial to investors with <br> a long investment time horizon. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Associated with the** <br> **Investment Options?**<br>| &nbsp;&nbsp;&nbsp; •An investment in this Contract is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> Investment Options available under the Contract.<br>•Each Variable Investment Option and each Fixed Account Option has its <br> own unique risks.<br>•You should review the Variable Investment Options and Fixed Account <br> Options before making an investment decision. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Related to the** <br> **Insurance Company?**<br>| &nbsp;&nbsp; An investment in the Contract is subject to the risks related to us, VALIC. Any <br> obligations (including under any Fixed Account Options), guarantees, and <br> benefits of the Contract are subject to the claims-paying ability of VALIC. If <br> we experience financial distress, we may not be able to meet our obligations <br> to you. More information about us, including our financial strength ratings, is <br> available upon request by calling 1-800-448-2542 or visiting <br> www.corebridgefinancial.com/rs. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |

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| | | |
|:---|:---|:---|
|  | **RESTRICTIONS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Restrictions** <br> **on the Investment** <br> **Options?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. There are restrictions that may limit the Variable Investment Options <br> and Fixed Account Options that you may choose as well as limitations on <br> the transfer of the contract value among the Variable Investment Options <br> and Fixed Account Options. Certain Investment Options may not be <br> available under your Contract. Some in-plan deferred compensation plans <br> may restrict investment in Public Funds. If your Contract is a tax-deferred <br> nonqualified annuity that is not part of your employer's retirement plan, <br> Variable Investment Options investing in a Public Fund will not be available <br> to you.<br>•You may transfer funds between the Investment Options, subject to certain <br> restrictions.<br>•Transfers between the Investment Options, as well as certain purchases <br> and redemptions, are subject to policies designed to deter market timing <br> and frequent transfers.<br>•Transfers to and from the Fixed Account Options are subject to special <br> restrictions.<br>•Early withdrawals and transfers from a Multi-Year Enhanced Option may be <br> subject to negative adjustments.<br>•We reserve the right to remove or substitute Portfolio Companies as <br> Investment Options and also reserve the right to stop accepting additional <br> Purchase Payments.<br>•If you are enrolled in an Advisory Program, you are personally prohibited <br> from making transfers among Investment Options in the Contract. During <br> such period, transfer instructions may only be provided by the Investment <br> Adviser. If you terminate the Advisory Program, you may make transfers <br> among the Investment Options subject to certain restrictions. | &nbsp;&nbsp; **Variable Investment** <br> **Options and Fixed** <br> **Account Options**<br>**Transfers Between** <br> **Investment Options**<br>|
| **Are There any** <br> **Restrictions on** <br> **Contract Benefits?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. Additional restrictions and limitations apply under the Contract's <br> optional Living Benefits, which are no longer available for purchase.<br>•If you elected an optional Living Benefit, not all Investment Options may be <br> available and you must invest in accordance with any applicable <br> investment restrictions.<br>•We may modify the investment restrictions for an optional Living Benefit.<br> •Withdrawals that exceed limits specified by the terms of an optional Living <br> Benefit may affect the availability of the benefit by reducing the benefit by <br> an amount greater than the value withdrawn and could terminate the <br> benefit.<br>•If you are participating in an Advisory Program and your Investment <br> Adviser's fees are deducted from your Contract, the deduction of those <br> fees may reduce the optional living benefit, death benefit and any other <br> guaranteed benefit, and may be subject to surrender charges, federal and <br> state income taxes and a 10% federal penalty tax. | &nbsp;&nbsp; **Appendix B – Living** <br> **Benefits**<br>**Advisory Program**<br>**Taxes**<br>|
|  | **TAXES** |  |
| **What Are the Contract's** <br> **Tax Implications?**<br>| &nbsp;&nbsp;&nbsp; •You should consult with a tax professional to determine the tax <br> implications of an investment in and payments received under the <br> Contract.<br>•If you purchase the Contract through a tax-qualified plan or an IRA, there is <br> no additional tax benefit under the Contract.<br>•Withdrawals, including withdrawals to pay your Investment Adviser's fees, <br> may be subject to ordinary income tax and may be subject to tax penalties, <br> including if you take a withdrawal before age 59½. | **Taxes** |

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| | | |
|:---|:---|:---|
|  | **CONFLICTS OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How Are Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; Your investment professional may receive compensation for selling this <br> Contract to you in the form of commissions, additional cash compensation, <br> and non-cash compensation. We may share the revenue we earn on this <br> Contract with your investment professional's firm, which may be our affiliate <br> VFA. This conflict of interest may influence your investment professional to <br> recommend this Contract over another investment for which the investment <br> professional is not compensated or compensated less.<br> You may determine to engage an Investment Adviser to provide investment <br> advice to you for the Contract. Your Investment Adviser will charge an <br> Advisory Program Fee. We do not set the Advisory Program Fee. While <br> VALIC may deduct the Advisory Program Fee from your Account Value based <br> on instructions from your Investment Adviser, we do not retain any portion of <br> these fees. If VFA is the Investment Adviser of your Advisory Program, <br> VALIC, as the parent company of VFA will indirectly benefit from VFA's receipt <br> of Advisory Program Fees.<br> In addition, VFA's investment professionals and their managers are eligible <br> for benefits from us or our affiliates, such as non-cash compensation items.<br> As a result of one or more of these conflicts of interest, your investment <br> professional may have a financial incentive to offer or recommend this <br> Contract over another investment. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |
| **Should I Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; Some investment professionals may have a financial incentive to offer you a <br> new contract in place of the one you already own. You should only exchange <br> a contract you already own if you determine, after comparing the features, <br> fees, and risks of both contracts, and any fees or penalties to terminate the <br> existing contract, that it is preferable for you to purchase the new contract <br> rather than continue to own your existing contract. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from an Investment Option or from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. The fees and expenses below do not reflect any advisory fees paid to your Investment Adviser from Contract or other assets. If such charges were reflected, the fees and expenses would be higher.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender, or make withdrawals from an Investment Option or from the Contract, or transfer Contract value between Investment Options. State premium taxes may also be deducted.**

***<u>Transaction Expenses</u>*** 

---

| | |
|:---|:---|
| **Deferred Sales Load (or Surrender Charge) (as a percentage of purchase payments or amount surrendered, as** <br> **applicable)**<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1, 3, 4, 5, 7, 8, 9, and 10 | 5.00%<sup>(1)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Series 2, 6, 11, and 12 |  |
| **Maximum Loan Application Fee (per loan)** | $75 |
| **Transfer Fee** |  |
| &nbsp;&nbsp;&nbsp; Series 11 | 5.00%<sup>(2)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Other Series |  |

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**Footnotes to Transaction Expenses** 

(1) The maximum surrender charge is the lesser of 5% of the amount withdrawn or 5% of the Purchase Payments received within the past 60 months. If no Purchase Payments are received within the past 60 months, the surrender charge will be zero. Reductions in and exceptions to the surrender charge are available if certain conditions are met. See *Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* and *Exceptions to Surrender Charge* under **Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only** in the "*Charges and Adjustments*" section.

(2) For all series, transfers from the Fixed Account Plus option are limited to 20% per Participant Year. Transfers in excess of this limitation will not be permitted except under series 11 Contracts. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation. See **Fixed Account Plus Transfer Charge (Series 11 Contracts Only)** in the "*Charges and Adjustments*" section.

**The next tables describe the fees and expenses that you will pay *each year* during the time that you own the Contract (not including Portfolio Company fees and expenses). If you have chosen to purchase an optional benefit, you pay additional charges, as shown below.** 

***<u>Annual Contract Expenses</u>*** 

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| | |
|:---|:---|
| **Administrative Expenses**<br> (also referred to as a Maintenance Charge)<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1 and 9 | $15 |
| &nbsp;&nbsp;&nbsp; Series 2, 3, 4, 5, 6, 7, 8, 10, 11, and 12 |  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Annual Fees** | **Current** | **Maximum** |
| **Base Contract Expenses**<sup>(1)</sup> <br>(as a percentage of average account value or Contract value)<br>| 0.60% | 0.61% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 |

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| | | |
|:---|:---|:---|
| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.30% | 2.60% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.55% | 3.10% |
| For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **Maximum Annual Fee Rate**<sup>(4)</sup> |
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **1.15%** |
| **Loan Interest Charges**<br> (as a percentage of average daily value allocated to the Fixed Account Option(s))<br>| **Current Annual Fee Rate** |
| Non-ERISA Contracts<sup>(5)</sup> | 3.00 – 6.00%<sup>(7)</sup> |
| ERISA Contracts<sup>(6)</sup> | 5.50%<sup>(8)</sup> |

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**Footnotes to Annual Contract Expenses**

<sup>(</sup><sup>1</sup><sup>)</sup> Also referred to as "Separate Account Charges." Reductions in the Separate Account Charges may be available for plan types meeting certain criteria. See "Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges." The Base Contract Expenses do not reflect any applicable Platform Charges that may apply. To help you understand the cost of investing in certain Variable Investment Options, Platform Charges are reflected under "Annual Portfolio Company Expenses" in this section and in "Appendix A – Investment Options Available Under the Contract." If Platform Charges were included in this table, current charges for certain (but not all) Variable Investment Options would be as high as 0.85%. For additional information, see **Separate Account Charges** in the "*Charges and Adjustments*" section.

<sup>(</sup><sup>2</sup><sup>)</sup> The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. For a complete description of how the Benefit Base is calculated, see "Appendix B – Living Benefits."

<sup>(</sup><sup>3</sup><sup>)</sup> The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your fee rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the VIX. If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the VIX used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. For the formula to calculate the fee, see "Appendix B – Living Benefits."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| Number of Covered Persons | &nbsp;&nbsp; Minimum Annual<br> Fee Rate<br>| &nbsp;&nbsp; Maximum Annualized Fee Rate<br> Decrease or Increase\*<br>|
| One Covered Person | 0.60% | +/-0.25% |
| Two Covered Persons | 0.60% | +/-0.25% |

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\* The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

<sup>(</sup><sup>4</sup><sup>)</sup> If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%. See "Appendix B – Living Benefits."

<sup>(5)</sup> Contracts issued as part of a retirement plan that is not subject to The Employment Retirement Income Security Act of 1974 (ERISA) including 457 Plans and retirement plans administered by government entities and churches.

<sup>(6)</sup> Contracts issued as part of an employer-sponsored retirement plan subject to ERISA including 401(k) and certain 403(b) defined contribution plans.

<sup>(7)</sup> The Non-ERISA Loan Interest Charges will vary based on the Guaranteed Minimum Interest Rate (GMIR) on your contract. Please refer to your contract for your GMIR.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(8)</sup> The ERISA Loan Interest Charges are variable rates based upon an index prescribed under applicable state insurance rules for policy loans. Loan Interest Charges for an existing loan will not increase, but may decrease, during the term of the loan.

***<u>Annual Portfolio Company Expenses</u>*** 

**The next table shows the minimum and maximum total operating expenses charged by the Portfolio Companies that you may pay periodically during the time that you own the Contract. Expenses shown may change over time and may be higher or lower in the future. These amounts also include applicable Platform Charges if you choose to invest in certain Portfolio Companies. A complete list of Portfolio Companies available under the Contract, including their annual expenses, may be found at the back of this document.** 

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| | | |
|:---|:---|:---|
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | **Minimum**<sup>(1)</sup> | **Maximum**<sup>(2)</sup> |
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | 0.20% | 1.18% |

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**Footnotes to Annual Portfolio Company Expenses** 

<sup>(</sup><sup>1</sup><sup>)</sup> The Portfolio Company with the lowest total annual fund operating expenses are the Vanguard Long-Term Treasury Fund.

<sup>(</sup><sup>2</sup><sup>)</sup> The Portfolio Company with the highest total annual fund operating expenses is the American Beacon Man Large Cap Growth Fund.

***Examples***

**These Examples are intended to help you compare the cost of investing in the Variable Investment Options with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual Contract expenses, and annual Portfolio Company expenses. The Examples do not reflect any advisory fees paid to your Investment Adviser from the Contract or other assets. If these fees and charges were reflected, the costs would be higher. Your actual costs may be higher or lower than the examples below.** 

**The Examples assume all Contract value is allocated to the Variable Investment Options. Your costs could differ from those shown below if you invest in Fixed Account Options.**

**The Examples assume that you invest $100,000 in the Variable Investment Options for the time periods indicated. The Examples also assume that your investment has a 5% return each year and assume the most expensive combination of annual Portfolio Company expenses and optional benefits available for an additional charge. Your actual costs may be higher or lower.**

**The first set of examples assumes the most expensive combination of annual Contract expenses, annual Portfolio Company expenses, and optional benefits available for an additional charge. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9402 | $19222 | $29063 | $49207 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9388 | $19183 | $29000 | $49094 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4883 | $14666 | $24473 | $49094 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4898 | $14708 | $24539 | $49207 |

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| | | | |
|:---|:---|:---|:---|
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4883 | $14666 | $24473 | $49094 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4883 | $14666 | $24473 | $49094 |

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**The second set of examples assumes the most expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6468 | $10601 | $14726 | $21131 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6454 | $10559 | $14655 | $20996 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1809 | $5605 | $9655 | $20996 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1824 | $5649 | $9726 | $21131 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1809 | $5605 | $9655 | $20996 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1809 | $5605 | $9655 | $20996 |

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**The third set of examples assumes the least expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5520 | $7601 | $9523 | $10082 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |

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| | | | |
|:---|:---|:---|:---|
| $5506 | $7557 | $9450 | $9939 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $817 | $2557 | $4450 | $9939 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $832 | $2601 | $4523 | $10082 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $817 | $2557 | $4450 | $9939 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $817 | $2557 | $4450 | $9939 |

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**Principal Risks of Investing in the Contract**

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**Market Risk.** Variable annuities involve risks, including possible loss of principal. Your losses could be significant. Amounts that you invest in the Variable Investment Options are subject to the risk of poor investment performance. You assume the investment risk. Generally, if the Variable Investment Options that you select make money, your Account Value goes up, and if they lose money, your Account Value goes down. Each Variable Investment Option's performance depends on the performance of its underlying Portfolio Company. Each Portfolio Company has its own investment risks, and you are exposed to the Portfolio Company's investment risks when you invest in a Variable Investment Option. You are responsible for selecting Variable Investment Options that are appropriate for you based on your own individual circumstances, investment goals, financial situation, and risk tolerance. This Contract is not a deposit or obligation of, or guaranteed or endorsed by, any bank. This Contract is not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency.

**Early Withdrawal Risk.** The Contracts are unsuitable for short-term savings. You should carefully consider the risks associated with withdrawals under the Contract. A withdrawal may reduce the value of your standard and optional benefits such as the death benefit or other guaranteed benefits. If you take a loan from your account, the amount of this loan and interest accrued therein may also reduce the value of these standard and optional benefits while the loan is in the process of being paid off, if the loan is never paid off, if you default on the loan, and the fact that your interest payments can never be recovered and, therefore, indirectly lower the contract value based on the loan you took against it. The reductions may be more than the amount withdrawn. Withdrawals may be subject to significant surrender charges if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract. In addition, if you own a series 11 Contract, excess transfers from the Fixed Account Plus option (including withdrawals from the Fixed Account Plus option for the purpose of transferring assets to another funding entity) may be subject to a charge. If you make a withdrawal prior to age 59½, there may be adverse tax consequences, including a 10% federal tax penalty.

**Contract Benefits Risk.** If you elected an optional benefit, there is a risk that you may not have chosen the benefit or benefits (if any) that are best suited for you based on your present or future needs and circumstances, and the benefits that are more suited for you (if any) may no longer be available. In addition, if you elected an optional benefit and do not use it, or if the contingencies upon which the benefit depend never occur, you will have paid for a benefit that did not provide a financial return. There is also a risk that any financial return of an optional benefit, if any, will ultimately be less than the amount you paid for the benefit. If you elected an optional Living Benefit, you are likely subject to investment restrictions for as long as the benefit remains in effect. Investment restrictions limit the investment options that are available to you and limit your ability to take certain actions under the Contract. The investment restrictions are designed to reduce our risk that we will have to make payments to you from our own assets in connection with certain guarantees. In turn, they may also limit the potential growth of your Account Value and the potential growth of your guaranteed benefits. This may conflict with your personal investment objectives. A withdrawal may reduce the value of your standard and optional benefits. For instance, a withdrawal may reduce the value of the death benefit. In addition, a withdrawal could reduce the value of an optional Living Benefit by an amount greater than the amount withdrawn and could result in termination of the benefit. A total withdrawal (surrender) will result in the termination of your Contract or certificate. An early withdrawal (or transfer) from a Multi-Year Enhanced Option may be subject to a market value adjustment that may reduce the value of your investment. We may defer payment of withdrawals from a Fixed Account Option for up to six months when permitted by law.

**Insurance Company Risk.** All guarantees under the Contract that are paid from our general account are subject to risks relating to our financial strength and claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options. If American Home Assurance Company experiences financial distress, it may not be able to fulfill its financial obligations under the guarantee.

**Contract Changes Risk:** Under the Contract, we reserve the right to remove or substitute Portfolio Companies as Investment Options. We additionally reserve the right to stop accepting additional Purchase Payments and impose investment restrictions or limitations on transfers including closing one or more Fixed Account Options to deposits or transfers and transfers among the Variable Investment Options.

**Short-Term Investment Risk.** This Contract is not designed for short-term investing and may not be appropriate for an investor who needs ready access to cash. The benefits of tax deferral, long-term income, and living benefit protections mean that this Contract is more beneficial to investors with a long-time horizon.

**Group Plan Risk.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law. This may impact your ability to make Purchase Payments, request withdrawals or loans, select payout options, or take other actions under the Contract. If the Contract is being used in a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contract in this prospectus.

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**Dynamic Allocation Fund Risk.** The Dynamic Allocation Fund is a Portfolio Company that is generally available under the Contract and is also an investment option under the optional Living Benefits' investment restrictions. This Portfolio Company has an investment strategy that may serve to reduce the risk of investment losses that could require us to use our own assets to make payments in connection with certain guarantees, like living and death benefits. In addition, this Portfolio Company may enable us to more efficiently manage our financial risks associated with guarantees, due in part to an asset management formula developed by affiliated insurance companies and utilized by the Portfolio Company's investment advisers, as described in the Portfolio Company's prospectus. This formula may change over time based on proposals from the Company. Any changes to the formula proposed by the Company will be implemented only if they are approved by the Portfolio Company's investment adviser and board of directors, including a majority of the independent directors.

**Public Fund Availability Risk.** Some in-plan deferred compensation plans may restrict investment in "Public Funds", which are Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Public Funds will not be available within your Contract. (Public Funds are identified in Appendix A.)

**Loan Risk.** If you take a loan under the Contract, interest will accrue on any outstanding loan amounts until they are repaid and, depending on the state, you may be required to pay a loan application fee to us. If you elected an optional living benefit and are permitted to take a loan, taking a loan may automatically terminate the benefit.

**Minimum Account Value Risk.** If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Business Disruption.** Our business is vulnerable to disruptions from natural and man-made disasters and catastrophes, such as but not limited to hurricanes, windstorms, flooding, earthquakes, wildfires, solar storms, war or other military action, acts of terrorism, explosions and fires, pandemics (such as COVID-19) and other highly contagious diseases, mass torts, failure of telecommunications or other critical infrastructure and other catastrophes. A natural or man-made disaster or catastrophe may negatively affect the computer and other systems on which we rely, including see outages or other unavailability, may interfere with our ability to receive, pick up and process mail, to calculate Purchase Unit values, process other contract-related transactions, or to otherwise provide our services, or may have other possible negative impacts. While we have developed and put in place what we believe to be appropriate business continuity and disaster recovery plans and procedures to mitigate operational risks and potential losses related to business disruptions resulting from natural and man-made disasters and catastrophes, there can be no assurance that we, our agents, the underlying Portfolio Company or our service providers will be able to successfully avoid negative impacts resulting from such disasters and catastrophes.

**Cybersecurity Risk.** We rely heavily on interconnected computer systems and digital data to conduct our variable product business activities. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our business partners and service providers, our business is vulnerable to physical disruptions and utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), cyber-attacks, and user errors or other disruptions that may compromise the confidentiality, integrity, or availability of such systems and data. These risks include, among other things, the theft, misuse, corruption, disclosure and destruction of sensitive business data, including personal information, maintained on our or our business partners' or service providers' systems, interference with our websites (such as via denial of service attacks), and other operational disruptions, and unauthorized release of confidential customer information. Such systems failures, cyber-attacks or other disruptions affecting us, any third-party administrator, the underlying Portfolio Companies, intermediaries and other affiliated or third-party service providers, as well as our distribution partners, may adversely affect us and your Contract Value. For instance, systems failures and cyber-attacks may interfere with our processing of contract transactions, including the processing of orders from our website, our distribution partners, or with the underlying Portfolio Companies, impact our ability to calculate Purchase Unit values, cause the release and possible destruction of confidential customer or business information, including personal information, impede order processing, or subject us and/or our service providers, distribution partners and other intermediaries to regulatory fines and enforcement action, litigation risks and financial losses and/or cause reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying Portfolio Companies invest, which may cause the affected underlying Portfolio Companies to lose value. There may be an increased risk of cyber-attacks during periods of geo-political or military conflict. Further, the widespread development, implementation, and use of AI, machine learning, data analytics and similar tools that collect, aggregate and analyze data or inputs (collectively, "AI Tools") may increase our exposure to, or exacerbate the risks of cyber-attacks or other security incidents, particularly where such technologies are exploited by third parties to attempt to breach our or our business partners' and service providers' systems. Despite our implementation of

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policies and procedures, which we believe to be reasonable, that address physical, administrative and technical safeguards and controls and other preventative actions to protect our systems and sensitive business and customer information, including personal information, and reduce the risk of cyber-incidents, there can be no assurance that we or our and distribution partners, the underlying Portfolio Companies or our business partners and service providers will avoid cyber-attacks or information security breaches in the future that may affect your contract and/or personal information.

**Description of Insurance Company, Registered Separate Account, and Investment Options**

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**About VALIC** 

We were originally organized on December 21, 1955 as The Variable Annuity Life Insurance Company of America Incorporated, located in Washington, D.C. We reorganized in the State of Texas on August 20, 1968, as Variable Annuity Life Insurance Company of Texas. On November 5, 1968, the name was changed to The Variable Annuity Life Insurance Company. Our main business is issuing and offering fixed and variable retirement annuity contracts, like Portfolio Director. Our principal offices are located at 2919 Allen Parkway, Houston, Texas 77019. We have regional offices throughout the United States. VALIC is an indirect, wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge"). VALIC is obligated to pay full amounts promised to investors under the Contracts, subject to its financial strength and claims-paying ability.

**Administration of the Contracts**

VALIC is responsible for the administrative servicing of your Contract. Please contact the Annuity Service Center at 1-800-448-2542, if you have any comments, questions, or service requests.

**About VALIC Separate Account A** 

When you direct money to the Contract's Variable Investment Options, you will be sending that money through VALIC Separate Account A. You do not invest directly in the Portfolio Companies made available in the Contract. VALIC Separate Account A invests in the Portfolio Companies on behalf of your account. VALIC acts as custodian for the Portfolio Company shares owned through the Separate Account. VALIC Separate Account A is made up of what we call "Divisions." Each Division invests in a different Portfolio Company made available through the Contract. The earnings (or losses) of each Division are credited to (or charged against) the assets of that Division, and do not affect the performance of the other Divisions of VALIC Separate Account A.

VALIC established Separate Account A on July 25, 1979 under Texas insurance law. VALIC Separate Account A is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended, (the "1940 Act"). Units of interest in VALIC Separate Account A are registered as securities under the Securities Act of 1933, as amended (the "1933 Act").

VALIC Separate Account A is administered and accounted for as part of the Company's business operations. However, the income, capital gains or capital losses, whether or not realized, of each Division of VALIC Separate Account A are credited to or charged against the assets held in that Division without regard to the income, capital gains or capital losses of any other Division or arising out of any other business the Company may conduct. In accordance with the terms of the Contract, VALIC Separate Account A may not be used to pay any liabilities of the insurance company other than those arising from the Contracts. Income, gains, and losses credited to, or charged against, VALIC Separate Account A reflects its own investment experience and not the investment experience of VALIC's other assets. As stated in the Contract, the Texas Insurance Code requires that the assets of VALIC Separate Account A attributable to the Contract be held exclusively for the benefit of the Contract owner, Participants, annuitants, and beneficiaries of the Contracts.

We are obligated to pay all amounts promised to investors under the Contracts. The commitments under the Contracts are the sole obligation of VALIC and the assets in VALIC Separate Account A may not be used to pay any liabilities of VALIC other than those arising from the Contracts. All amounts paid from our general account, including our obligations under any Fixed Account Option and any death benefits, Payout Payments, or Living Benefit guarantees in excess of your amounts in the Separate Account are subject to the Company's financial strength, claims-paying ability, and long-term ability to make payments.

**Units of Interest** 

Your investment in a Division of VALIC Separate Account A is represented by units of interest issued by VALIC Separate Account A. On a daily basis, the units of interest issued by VALIC Separate Account A are revalued to reflect that day's performance of the underlying Portfolio Company minus any applicable fees and charges to VALIC Separate Account A.

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**American Home Assurance Company** 

The information below is applicable to you only if your Contract or Certificate was issued December 29, 2006 or earlier.

Insurance obligations under Contracts issued by the Company are guaranteed by American Home Assurance Company ("American Home"), an indirect wholly-owned subsidiary of American International Group, Inc. Insurance obligations include, without limitation, Contract value invested in any available fixed account option, death benefits and income options. The guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options available under the Contracts. The guarantee provides that the Company's Contract owners can enforce the guarantee directly.

American Home provided notice of termination of the General Guarantee Agreement dated March 3, 2003 (the "Guarantee") with respect to Contracts issued by VALIC. The Guarantee terminated on December 29, 2006 at 4:00 p.m. Eastern time ("Point of Termination"). Pursuant to its terms, the Guarantee will not apply to any group or individual Contract or Certificate issued after the Point of Termination. The Guarantee will remain in effect for any Contract or Certificate issued prior to the Point of Termination until all insurance obligations under such Contracts or Certificates are satisfied in full. As described in the prospectus, VALIC will continue to remain obligated under all of its Contracts and Certificates, regardless of issue date, in accordance with the terms of those Contracts and Certificates.

American Home is a stock property-casualty insurance company incorporated under the laws of the State of New York on February 7, 1899. American Home's principal executive office and home office address is 1271 Avenue of the Americas, FL37, New York, NY, 10020-1304. American Home is licensed in all 50 states of the United States and the District of Columbia, as well as certain foreign jurisdictions, and engages in a broad range of insurance and reinsurance activities. American Home is an indirect wholly owned subsidiary of American International Group, Inc.

**Distribution of the Contracts** 

The principal underwriter and distributor for VALIC Separate Account A is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

*VFA* 

The Contracts are sold by licensed insurance agents who are registered representatives of broker-dealers, which are members of the Financial Industry Regulatory Authority ("FINRA"), unless such broker-dealers are exempt from the broker-dealer registration requirements of the Securities Exchange Act of 1934, as amended. VALIC receives payments from some Portfolio Companies for exhibitor booths at meetings and to assist with the education and training of VALIC, VFA and their affiliates, employees, and investment professionals.

VFA investment professionals who sell the Contracts will be compensated for such sales by commissions ranging up to 6% of each first-year Purchase Payment. The investment professionals will receive commissions of up to 0.85% for level Purchase Payments in subsequent years and up to 5% on increases in the amount of Purchase Payments in the year of the increase. During the first two years of employment, investment professionals may also receive developmental commissions of up to 4% for each first-year Purchase Payment and for increases in the amount of Purchase Payments. Investment professionals can also receive an Enrollment Payment where the amount of the payment varies based on the number of total enrollments written by the investment professional and on the expected annualized Purchase Payments of the Participant.

For more information about how your investment professional may be compensated, please contact your investment professional.

*Portfolio Companies* 

The Portfolio Companies or their registered investment advisers or their affiliates ("Portfolio Company Entities") may make payments to VALIC, typically for administrative, recordkeeping, and shareholder services that VALIC provides for the underlying Portfolio Company. See also **Payments from Portfolio Companies/Platform Charges** in this prospectus.

In addition, VALIC and/or its affiliates may receive payments from Portfolio Company Entities that voluntarily choose to participate in, and that are designed to defray the costs associated with, conferences, seminars, training, or other educational events sponsored by VALIC and its affiliates where such funds and services are discussed and that are attended by VFA investment professionals, VALIC employees, employees of our affiliates and/or plan sponsors and plan consultants. Moreover, these Portfolio Company Entities may also make payments to VALIC and/or its affiliates for exhibitor booths at meetings and to assist with education and training of VFA financial professionals.

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*Consultants* 

VALIC and its affiliates sometimes retain and compensate business consultants to assist VALIC in marketing group employee benefit services to employers. These business consultants are not associated persons of VFA or affiliated with VALIC or its affiliates and are not authorized to sell or market securities or insurance products to employers or to group plan participants. The fees paid to such business consultants are part of VALIC's general overhead and are not charged back to employers, group employee benefit plans or plan participants.

*Sponsorships* 

VALIC and its affiliates maintain ongoing relationships with various organizations and associations, including trade associations, unions, and other industry groups, to which VALIC and/or its affiliates makes sponsorship payments for marketing and advertising opportunities. These marketing and advertising opportunities may take the form of participation in leadership and recognition events, educational conferences, speaking opportunities, booth space and signage at membership conferences and similar events, and membership dinners. VALIC and its affiliates may also receive payments from unaffiliated third-parties in exchange for enhanced engagement with and exposure to VALIC and VFA management and their investment professionals throughout the year. Such payments are typically flat fees (either one-time or recurring) and are not based on transactions or sales.

VALIC and its affiliates also have ongoing relationships with retirement plan sponsors. As part of these ongoing relationships, VALIC and its affiliates sponsor events and seminars for plan participants that provide education for plan participants, as well as marketing and advertising opportunities for VALIC and its affiliates. Such sponsorships may include providing occasional meals, entertainment, or nominal gifts to the extent permitted by FINRA rules.

These various sponsorships may be considered endorsements of the products of VALIC or its affiliates, may result in additional annuity or other product sales to plan participants, and provide an incentive to these organizations, associations, and plan sponsors to promote the products and services of VALIC and its affiliates.

**Variable Investment Options and Fixed Account Options** 

The Contracts offer a choice from among several Variable Investment Options and five Fixed Account Options. The Variable Investment Options and Fixed Account Options may be referred to together as Investment Options. Depending on the selection made by your employer's plan, if applicable, there may be limitations on which and how many Investment Options Participants may invest in at any one time. All options listed (except where noted) are available, generally, for 401(a), 403(a), 401(k), and 403(b) plans and 457(b) eligible deferred compensation plans, as well as individual retirement annuities.

This prospectus describes a Contract in which units of interest in VALIC's Separate Account A are offered. Portfolio Director will allow you to accumulate retirement dollars in Fixed Account Options and/or Variable Investment Options. Variable Investment Options are referred to as Divisions (subaccounts) in VALIC Separate Account A. Each Separate Account Division represents our investment in a different Portfolio Company. This prospectus describes only the variable aspects of Portfolio Director except where the Fixed Account Options are specifically mentioned.

**Variable Investment Options** 

The Contracts enable you to participate in Divisions that represent the Variable Investment Options. These Divisions comprise all of the Variable Investment Options that are made available through VALIC Separate Account A. According to your retirement program, you may not be able to invest in all of the Variable Investment Options described in this prospectus. You

may be subject to further limits on how many options you may be invested in at any one time or how many of the options you are invested in may be involved in certain transactions at any one time. We reserve the right to limit the Investment Options available under your Contract if you elected a Living Benefit, as described in Appendix B.

Several of the Variable Investment Options offered through VALIC's Separate Account A are also available to the general public (retail investors) outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. These funds are listed in Appendix A as "Public Funds." If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, or if your Contract is issued under a deferred compensation plan (other than an eligible 457(b) plan), those Variable Investment Options that are invested in Public Funds will not be available within your Contract, due to Code requirements concerning investor control. Therefore, the nonqualified annuities listed above and ineligible deferred compensation 457(f) plans and private sector top-hat plans (generally, an unfunded deferred compensation plan maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly-compensated employees) may invest only in VALIC Company I Funds.

Contract value allocated to a Variable Investment Option will vary based on the investment experience of the corresponding

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Portfolio Company in which the Variable Investment Option invests. There is a risk of loss of the entire amount invested.

**Information regarding each Portfolio Company, including (i) its name, (ii) its type (e.g. money market fund, bond fund, balanced fund, etc.), (iii) its investment adviser and any sub-investment adviser, (iv) current expenses, and (v) performance is available in an appendix to this prospectus. See "Appendix A – Investment Options Available Under the Contract."** 

**Each Portfolio Company has issued a prospectus that contains more detailed information about the Portfolio Company. Read these prospectuses carefully before investing. Paper or electronic copies of the Portfolio Company prospectuses may be obtained by calling 1-800-448-2542, or visiting www.corebridgefinancial.com/rs/prospectus-and-reports/annuities.** 

Refer to your employer's retirement program documents for a list of the employer-selected Variable Investment Options and any limitations on the number of Variable Investment Options you may choose. All Portfolio Companies may not be available for all plans or individual or group contracts.

Shares of certain of the Portfolio Companies are also sold to separate accounts of other insurance companies that may or may not be affiliated with us. This is known as "shared funding." These Portfolio Companies may also be sold to separate accounts that act as the underlying investments for both variable annuity contracts and variable life insurance policies. This is known as "mixed funding." There are certain risks associated with mixed and shared funding, such as conflicts of interest due to differences in tax treatment and other considerations, including the interests of different pools of investors. These risks may be discussed in each Portfolio Company's prospectus.

Investors seeking to achieve long term retirement security generally are encouraged to give careful consideration to the benefits of a well-balanced and diversified investment portfolio. As just one example, investing one's total retirement savings in a limited number of Investment Options may cause that individual's retirement savings to not be adequately diversified. Spreading those assets among different types of investments can help an investor achieve a favorable rate of return in changing market or economic conditions that may cause one category of assets or particular security to perform very well while causing another category of assets or security to perform poorly. Of course, diversification is not a guarantee of gains or against losses. However, it can be an effective strategy to help manage investment risk.

**Voting Rights**

As discussed in the **About VALIC Separate Account A** section of this prospectus, VALIC Separate Account A holds, on your behalf, shares of the Portfolio Companies that comprise the Variable Investment Options. From time to time, the Portfolio

Companies may be required to hold a shareholder meeting to obtain approval from their shareholders for certain matters.

**Who May Give Voting Instructions** 

During the Purchase Period, subject to any contrary provisions in the plan, the Contract Owner, Participant, or Beneficiary will have the right to give voting instructions to VALIC Separate Account A for the shareholder meetings, except as noted below. Proxy materials and a form on which voting instructions may be given before the shareholder meeting is held will be mailed in advance of any shareholder meeting. Please vote each card received.

Participants in a nonqualified unfunded deferred compensation plan will not have the right to give voting instructions.

**Determination of Portfolio Company Shares Attributable to Your Account** 

*During the Purchase Period* 

The number of Portfolio Company shares attributable to your account will be determined on the basis of the Purchase Units credited to your account on the record date set for the Portfolio Company shareholder meeting.

*During the Payout Period or after a Death Benefit Has Been Paid* 

The number of Portfolio Company shares attributable to your account will be based on the liability for future variable annuity payments to your payees on the record date set for the Portfolio Company shareholder meeting.

**How Portfolio Company Shares Are Voted** 

VALIC Separate Account A will vote all of the shares of the Portfolio Company it holds based on, and in the same proportion as, the instructions given by all Participants invested in that Portfolio Company entitled to give instructions at that shareholder meeting. VALIC Separate Account A will vote the shares of the Portfolio Companies it holds for which it receives no voting instruction in the same proportion as the shares for which voting instructions have been received. One effect of proportional voting is that a small number of Contract Owners may determine the outcome of a vote. In the future, we may decide how to vote the shares of VALIC Separate Account A in a different manner if permitted at that time under federal securities law.

In the event that shares of a Portfolio Company are owned by VALIC or an affiliated insurance company for their own benefit, such shares will be voted proportionally based on instructions received from Contract Owners.

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**Fixed Account Options** 

Portfolio Director Contracts feature up to five guaranteed Fixed Account Options that are each part of the General Account assets of the Company. These assets are invested in accordance with applicable state regulations to provide fixed-rate earnings and guarantee safety of principal. The guarantees under the Fixed Account Options are subject to our financial strength,

claims-paying ability, and our long-term ability to make such payments, and not the Separate Account. A tax-deferred nonqualified annuity may include the guaranteed Fixed Account Options. The Fixed Account Options are not subject to regulation under the 1940 Act and are not required to be registered under the 1933 Act. <br>

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| | |
|:---|:---|
| **Fixed Account Options** | **Description** |
| Fixed Account Plus | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides for a fixed rate of interest with a long-term time horizon. It is credited <br> with interest at rates set by VALIC. The account is guaranteed to earn at least a minimum rate of interest as <br> shown in your Contract. Your money may be credited with a different rate of interest depending on the time <br> period in which it is accumulated. Purchase Payments allocated to Fixed Account Plus will receive a current <br> rate of interest. There are limitations on transfers out of this option. If you transfer assets from Fixed Account <br> Plus to another investment option, any assets transferred back into Fixed Account Plus within 90 days will <br> receive a different rate of interest than that paid for new Purchase Payments. Please refer to the **Fixed** <br> **Account Plus Excess Transfer Charge (Series 11 Only)** section in "*Charges and Adjustments*" for information <br> about certain transfer limitations for Fixed Account Plus.<br>|
| Short-Term Fixed Account | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides fixed-return investment growth for the short-term. It is credited with <br> interest at rates set by VALIC, which may be lower than the rates credited to Fixed Account Plus, above. The <br> account is guaranteed to earn at least a minimum rate of interest as shown in your Contract. Your money may <br> be credited with a different rate of interest depending on the time period in which it is accumulated.<br>|
| &nbsp;&nbsp;&nbsp; Multi-Year Enhanced Option <br> ("Multi-Year Option")<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a long-term Investment Option, providing a guaranteed interest rate for a <br> guaranteed period (three, five, seven, or ten years) ("Multi-Year Option Term"). You may establish one or <br> more new Multi-Year Option guarantee periods (Multi-Year Options Bands) with a minimum amount, as <br> described in the Contract, per Multi-Year Option Band in states in which the Multi-Year Option has been <br> approved. The Company may change the minimum from time to time. Each Multi-Year Option Band will be <br> guaranteed to receive a stated rate of interest through the end of the selected Multi-Year Option term. We <br> guarantee your Multi-Year Option will earn at least the lowest minimum interest rate applicable to any of the <br> fixed interest options in the Contract. See your Contract for minimum investment amounts and other <br> requirements and restrictions. This option may not be available in all employee plans or states. All Multi-Year <br> Option Terms may not be available. See your investment professional for information on the Multi-Year <br> Option Terms that are currently offered.<br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6- month & <br> DCA Fixed Account 12-month<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a short-term Investment Option providing a guaranteed interest rate for money <br> invested in the option but prior to being systematically transferred to the designated Variable Investment <br> Options. It is credited with interest rates set by VALIC. The account is guaranteed to earn at least a minimum <br> rate of interest as shown in your Contract. Purchase Payments allocated to the DCA Fixed Account Option will <br> receive a current rate of interest. Purchase Payments may be credited with a different rate of interest <br> depending on the time period in which it is received by VALIC. This option may not be available in all states or <br> in employer sponsored plans.<br>|

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Generally, for most series of Portfolio Director, a current interest rate is declared at the beginning of each calendar month and is applicable to new contributions received during that month. Interest is credited to the account daily and compounded at an annual rate. You may obtain current interest rates by calling the Annuity Service Center or speaking with your investment professional. VALIC guarantees that all contributions received during a calendar month will receive that month's current interest rate for the remainder of the calendar year. Our practice, though not guaranteed, is to continue crediting interest at that same rate for such purchase payments for one additional calendar year. Thereafter, the amounts may be consolidated with contributions made during other periods and will be credited

with interest at a rate which the Company declares annually on January 1 and guarantees for the remainder of the calendar year. The interest rates and periods may differ between the series of Portfolio Director. Some series of Portfolio Director may offer a higher interest rate on Fixed Account Plus. This interest crediting policy is subject to change, but any changes made will not reduce the current rate below your contractually guaranteed minimum or reduce monies already credited to the account.

Your fixed account interest crediting rates are guaranteed for amounts allocated to each fixed account for up to 1 year. Thereafter, for Fixed Account Options, VALIC will declare annual fixed account crediting rates each Contract year, and this rate will never be lower than the minimum guaranteed rate as

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referenced in your Contract. Factors that influence the declared fixed account renewal rate include, but are not limited to, the level of US treasury rates, credit spreads on corporate bonds and other fixed income instruments, company asset-liability matching strategies, the length of the Contract withdrawal charge period and the number of years since your annuity Contract was issued.

*Dollar Cost Averaging Fixed Accounts* 

You may invest initial Purchase Payments in the Dollar Cost Averaging ("DCA") Fixed Accounts, if available. You may also invest a series of Subsequent Purchase Payments received over the first 30 days from the date of the initial Purchase Payment. Transfers and exchanges from any affiliated VALIC product are not permitted. See "Dollar Cost Averaging Program" below for more information.

The minimum Purchase Payment amounts for the DCA Fixed Account Options are as follows:

**DCA Fixed Account Minimum Purchase Payment** 

6-Month = $25,000 \* <br>12-Month = $25,000 \*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You may not make a transfer from a Variable Investment Option or available Fixed Account Option into a DCA Fixed Account Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless otherwise directed by you, any Purchase Payment less than the above minimum amounts will automatically be allocated to an available Variable Investment Option or Fixed Account Option according to your current allocation instructions on file.

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\*

The DCA Fixed Account Minimum Purchase Payment for Contracts issued in Oregon is $5,000.

*DCA Interest Rate Crediting*. DCA Fixed Accounts credit a fixed rate of interest and can only be elected to facilitate a DCA Program. Interest is credited to amounts allocated to the DCA Fixed Accounts while your money is transferred to available Investment Options over certain specified time frames. The interest rates applicable to the DCA Fixed Accounts may differ from those applicable to any other Fixed Account Option but will never be less than the minimum guaranteed interest rate specified in your Contract. The minimum guaranteed interest rate can vary but is never lower than 1%. However, when using a DCA Fixed Account, the annual interest rate is paid on a declining balance as you systematically transfer your money to available Investment Options. Therefore, the actual effective yield will be less than the stated annual crediting rate. We reserve the right to change the availability of DCA Fixed Accounts offered, unless state law requires us to do otherwise.

**Dollar Cost Averaging Program** 

Under the DCA Program, systematic transfers of the value will be processed from the applicable DCA Fixed Account ("source account") to any available Variable Investment Options ("target account"). For example, if you select the DCA Fixed Account 6-month Option, 1/6 of your Account Value will be transferred the first month, 1/5 of the Account Value the 2nd month, 1/4 of the Account Value the 3rd month, 1/3 of the Account Value the 4th month, 1/2 the Account Value the 5th month and the balance of the option the 6th month. At the end of the selected period, there should be no money left in the DCA Fixed Account Option.

The DCA Program allows you to invest gradually in available Variable Investment Options at no additional cost. The DCA Program is designed to lessen the impact of market fluctuations on your investment. However, the DCA Program can neither guarantee a profit nor protect your investment against a loss. When you elect the DCA Program, you are continuously investing in securities fluctuating at different price levels. You should consider your risk tolerance for investing through periods of fluctuating price levels.

*Example of DCA Program* 

Assume that you deposit the minimum of $25,000 into the DCA Fixed Account – 6 month Option. The DCA program will systematically transfer the deposits and interest from the DCA Fixed Account to your designated Variable Investment Options. Assume a DCA Fixed Account earns a minimum interest credited rate of 1%, and these amounts are transferred to a single Variable Investment Option over the six months, and that this Variable Investment Option has the Unit Values shown below. For this example, the DCA Program purchases would have the following values:

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| | | |
|:---|:---|:---|
| **Month** | **Unit Value** | **Units Purchased** |
| 1 | $7.50 | 556 |
| 2 | $5.00 | 835 |
| 3 | $10.00 | 418 |
| 4 | $7.50 | 557 |
| 5 | $5.00 | 837 |
| 6 | $7.50 | 558 |

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You paid an average price of only $6.67 per Unit over six months, while the average market price actually was $7.08. With Dollar Cost Averaging, you automatically buy more Units when the market price is low and fewer Units when the market price is high. This example is for illustrative purposes only.

*DCA Program Guidelines* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Options are not available as target accounts for the DCA Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers occur on a monthly periodic schedule.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers resulting from your participation in the DCA Program are not counted towards the number of transfers allowed per contract year.

*Termination of DCA Program* 

You may terminate the DCA Program at any time. If you terminate the DCA Program and money remains in the applicable DCA Fixed Account, we transfer the remaining money according to your current allocation instructions on file. Upon notification of your death, we will terminate the DCA Program unless your Beneficiary instructs us otherwise and we will transfer the remaining money according to the current allocation instructions on file.

We reserve the right to terminate or modify the DCA Program at any time and for any reason. Any such termination or modification, however, will not affect Contract Owners currently enrolled in a DCA Fixed Account Option.

**Impact of Advisory Program Fees** 

Please note that if you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, advisory fees deducted from Account Value will also result in a reduction of any Account Value allocated to the Fixed Account Option(s) by the dollar amount assessed for the Advisory Program Fee.

**Charges and Adjustments**

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By investing in Portfolio Director, you may be subject to these fees and charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Account Maintenance Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Surrender Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Premium Tax Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Separate Account Charges (referred to as "Base Contract Expenses")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Portfolio Company Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advisory Program Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Living Benefit Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Multi-Year Enhanced Option Adjustment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other Charges

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Plus Excess Transfer Charge

These fees and charges are applied to the Variable Investment Options and Fixed Account Options in proportion to the Account Value as explained below. Unless we state otherwise, we may profit from these fees and charges. For additional information about these fees and charges, see the "*Fee Table*" section in this Prospectus. In addition, certain charges may apply to the Multi-Year Enhanced Option, which are discussed at the end of this section.

**Account Maintenance Charge (Series 1 and 9 Contracts Only)** 

Under a series 1 or 9 Contract, during the Purchase Period, an account maintenance charge of $3.75 will be deducted on the last Business Day of each calendar quarter if any of your money is invested in the Variable Investment Options. We will sell Purchase Units from your account to pay the account maintenance charge. If all your money in the Variable Investment Options is withdrawn, or transferred to a Fixed Account Option, the charge will be deducted at that time. The

charge will be assessed pro-rata among the Variable Investment Options that make up your Account Value. We do not charge an account maintenance charge during the Payout Period.

The account maintenance charge is paid to the Company to reimburse us for our administrative expenses. This includes the expense for establishing and maintaining the record keeping for the Variable Investment Options. Certain Contracts may not be subject to this charge.

**Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only)** 

Under a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract, when you withdraw money from your account, you may be subject to a surrender charge that will be deducted from the amount withdrawn. Surrender charges reimburse us for the cost of Contract sales, expenses associated with issuing your Contract, and other acquisition expenses.

If you request a partial surrender of your Account Value, a surrender charge would apply to any amount that exceeds the 10% free withdrawal allowed for any Participant Year. See below for exceptions to this charge. It is assumed that any new Purchase Payments are withdrawn before older ones; thus, the last dollar in is the first dollar out. See below for exceptions to this procedure. For information about your right to surrender, see the "*Surrenders and Withdrawals*" section in this prospectus.

Amounts exchanged from other contracts issued by the Company may or may not be subject to a surrender charge. After the exchange, it is assumed that any new Purchase Payments are withdrawn before the exchanged amount.

*Amount of Surrender Charge* 

A surrender charge will be the lesser of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount of all Purchase Payments received during the past 60 months; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount withdrawn.

*10% Free Withdrawal* 

In any Participant Year, up to 10% of the Account Value may be withdrawn without a surrender charge. The surrender charge will apply to any amount withdrawn that exceeds this 10% limit. The percentage withdrawn will be determined by dividing the amount withdrawn by the Account Value just prior to the withdrawal. If more than one withdrawal is made during a Participant Year, each percentage will be added to determine at what point the 10% limit has been reached.

These 10% withdrawals without charge do not reduce Purchase Payments for the purpose of computing the surrender charge. If a surrender charge is applied to all or part of a Purchase Payment, no surrender charge will be applied to such Purchase Payment (or portion thereof) again. There may be a 10% premature distribution tax penalty for taking a withdrawal prior to age 59½. See the "*Taxes*" section for more information.

*Exceptions to Surrender Charge* 

No surrender charge will be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If no Purchase Payments have been received during the 60 months prior to the date of surrender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 15 years or longer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 5 years or longer, and you have attained age 59½;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To "No Charge Systematic Withdrawals";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under certain contracts, to withdrawals under the No Charge Minimum Distribution provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are at least 55 years old, are no longer employed by the employer that established the plan, and your

account under the plan was established at least 5 years prior to the date of surrender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lesser of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received during the most recent 60 months; or five percent (5%) of the total amount withdrawn.

We may waive any otherwise applicable surrender charge if you reinvest the surrender proceeds in another VALIC product. You will, however, be subject to a surrender charge, if any, in the newly acquired product under the same terms and conditions as the original product. For purposes of calculating any surrender charge due, you will be considered to have acquired the new product as of the date you acquired the original product.

**Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** 

Transfers from the Fixed Account Plus option are limited to 20% per Participant Year. See **Transfers Between Investment Options**. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. This transfer charge will be paid to the Company to account for administrative expenses associated with the Fixed Account Options. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation.

*Exceptions to Fixed Account Plus Excess Transfer Charge* 

This charge will not be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under any series other than series 11 Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To transfers from the Fixed Account Option within the 20% per Participant Year limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the

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impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you retire or are separated from service.

**Premium Tax Charge** 

Premium taxes are imposed by some states, cities, and towns. The rate will range from 0% to 3.5%, depending on whether the Contract is qualified or nonqualified. Such tax will be deducted from the Account Value when annuity payments are to begin. We will not profit from this charge. See Appendix C for variations of the premium tax charge that may be applicable in your state.

**Separate Account Charges** 

The Separate Account Charge (also referred to as a Base Contract Expense) is 0.60% and is deducted daily from the average daily net asset value allocated to the Variable Investment Option(s). If you are invested in series 1 or 9, the maximum Base Contract Expense in the Fee Tables reflects the inclusion of the annual maintenance charge and accordingly will reflect a higher number. This Separate Account Charge is guaranteed and cannot be increased by the Company. For a discussion of how the Separate Account Charges impact the calculation of each Division's unit value, see "Purchase Unit Value" in the SAI.

The Separate Account Charges compensate the Company for assuming certain risks under Portfolio Director. The Company assumes the obligation to provide payments during the Payout Period for your lifetime, no matter how long that might be. In addition, the Company assumes the obligation, during the Purchase Period, to pay an interest guaranteed death benefit. The Separate Account Charges also may cover the costs of issuing and administering Portfolio Director and administering and marketing the Variable Investment Options, including but not limited to enrollment, participant communication and education. Separate Account Charges are applied to Variable Investment Options during both the Purchase Period and Payout Period.

The Separate Account Charges may be reduced if issued to certain types of plans that are expected to result in lower costs to VALIC, as discussed below. The Separate Account Charges are guaranteed and may not be increased for the life of your Contract.

*Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* 

We may, as described below, determine that the account maintenance charge, surrender charges, or Separate Account Charges for Portfolio Director may be reduced or waived. We may reduce or waive these charges if we determine that your

retirement program will allow us to reduce or eliminate administrative or sales expenses that we usually incur for retirement programs. There are a number of factors we will review in determining whether your retirement program will allow us to reduce or eliminate these administrative or sales expenses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The type of retirement program. Certain types of retirement programs, because of their stability, can result in lower administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The nature of your retirement program. Certain types of retirement programs, due to the types of employees who participate, experience fewer account surrenders, thus reducing administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other factors of which we are not presently aware that could reduce administrative costs.

We review the following additional factors to determine whether we can reduce or waive account maintenance charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program. Purchase Payments received no more than once a year can reduce administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The administrative tasks performed by your employer for your retirement program.

The employer sponsoring your retirement program can, through its method of remitting Purchase Payments, reduce administrative costs.

We review the following additional factors to determine whether we can reduce surrender charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program. A retirement program that involves a larger group of employees may allow us to reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The total amount of Purchase Payments to be received for your retirement program. Larger Purchase Payments can reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The use of mass enrollment or related administrative tasks performed by your employer for your retirement program.

We review the following additional factors to determine whether we can reduce the Separate Account Charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount of your retirement program's periodic Purchase Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The method of remitting periodic Purchase Payments.

In no event will the reduction or waiver of fees and charges be permitted where the reduction or waiver will unfairly discriminate against any person.

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Additionally, under certain circumstances, and at VALIC's sole discretion, VALIC may issue a Contract credit for amounts transferred on behalf of a group contract from another plan or provider, pursuant to the terms of the Contract.

**Payments from Portfolio Companies/Platform Charges** 

Some of the Portfolio Companies or their affiliates have an agreement with the Company to pay the Company for administrative, recordkeeping and shareholder services it provides to the underlying Portfolio Company. We receive payments for the administrative services we perform, such as account recordkeeping, mailing of Portfolio Company related information and responding to inquiries about the Portfolio Companies. Currently, these payments range from 0.00% to 0.35% of the market value of the assets invested in the underlying Portfolio Company as of a certain date, usually paid at the end of each calendar quarter.

We may also receive what is referred to as "12b-1 fees" and non-12b-1 service fees from certain Portfolio Companies. These fees are designed to help pay for our direct and indirect distribution costs. The 12b-1 fees and non-12b-1 service fees are generally equal to 0.25% of the daily market value of the assets invested in the underlying Portfolio Company.

From time to time, some of these arrangements may be renegotiated so that we receive a greater payment than previously paid.

If we do not have an arrangement to receive payments from certain Portfolio Companies, we may charge a Platform Charge in order to help us manage our costs in light of the fact that the Portfolio Company is not paying us or is paying us too little. The Platform Charges are reflected in "Appendix A – Investment Options Available Under the Contract" to help you understand the cost of investing in certain Variable Investment Options.

**Multi-Year Enhanced Option Adjustment** 

Under the Multi-Year Option, a withdrawal will generally be subject to a surrender charge if it exceeds the amount of any free withdrawal amount permitted under your Contract. Withdrawals or transfers from an Multi-Year Option Band prior to the end of the Multi-Year Option term will be subject to a market value adjustment, unless a waiver applies. This adjustment may be positive or negative, based upon the differences in selected interest rates at the time the Multi-Year Option Band was established and at the time of the withdrawal. This adjustment will not apply upon the Owner's death, or if the Contract Owner is not a natural person, upon the death of the Annuitant. This adjustment applies independently from surrender charges and can apply to a 10% free withdrawal. The adjustment may be waived for distributions that are required under your Contract. It will also be waived for 30 days following the end of an Multi-Year Option term. Loans are not available

from the Multi-Year Option. Please review your Contract for additional information on the Multi-Year Option.

**Portfolio Company Expenses** 

Charges deducted from, and expenses paid out of, the assets of the Portfolio Company are described in the prospectuses for the Portfolio Companies.

**Living Benefit Fees** 

If you elected an optional Living Benefit, information about the additional fees to which you are subject can be found under "Fee Tables" and "Appendix B – Living Benefits."

**Advisory Program Fees** 

If you enrolled in an Advisory Program, your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of the Advisory Program Fee pursuant to authorizations that you have provided to your Investment Adviser. The authorization for VALIC to deduct amounts from your Contract for payment of the Advisory Program Fee is included in the Advisory Agreement you signed with your Investment Adviser upon enrollment in the Advisory Program. The Advisory Program Fee is charged by and paid to your Investment Adviser, not VALIC, for the costs associated with administering the Advisory Program and is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Deduction of the Advisory Program Fee may reduce certain benefits guaranteed under the Contract, including Contract death benefits, optional living benefits and annuity benefits and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Impact of Advisory Program Fees** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" and "*Annuity Period*" sections for more details. Please consult your tax professional regarding the impact of deducting advisory fees from Account Value before making any election to do so.

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**Other Charges** 

We reserve the right to charge for certain taxes that we may have to pay. This could include federal income taxes. Currently, no such charges are being made.

Fees for plan services provided by parties other than VALIC or its affiliates maybe assessed to participant accounts upon the direction or authorization of a plan representative. Additional fees may be withdrawn from client accounts in accordance with a client's independent investment advisory contract. Such withdrawals will be identified on applicable participant account reports or client statements.

Plan loans from the Fixed Account Options may be allowed by your employer's plan. Refer to your plan for a description of

charges and other information concerning plan loans. We reserve the right to charge a fee of up to $75 per loan (if permitted under state law) and to limit the number of outstanding loans.

**Exchange Privilege**

From time to time, we may offer to exchange certain fixed or variable contracts into Portfolio Director. Such an exchange offer will be made in accordance with applicable federal securities laws and state insurance rules and regulations. We will provide the specific terms and conditions of any such exchange offer at the time the offer is made.

**General Description of Contracts**

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**About the Contracts** 

The Contracts were developed to help you save money for your retirement and are available to individuals who are Participants in a group Contract through an employer-sponsored qualified retirement plan as well as individuals investing in the Contract through an IRA or other non-qualified arrangements. The Contracts offer a combination of Variable Investment Options and Fixed Account Options that you, as a Participant or an Individual, may choose to invest in to help you reach your retirement savings goals. You should consider your personal risk tolerances and your retirement savings plan in choosing your investment options.

A group Contract is a Contract that is purchased by an employer for a retirement plan. The employer and the plan documents will determine how contributions may be made to the Contracts. For example, the employer and plan documents may allow contributions to come from different sources, such as payroll deductions or money transfers. The amount, number, and frequency of your Purchase Payments may also be determined by the retirement plan for which your Contract was purchased. Likewise, the employer's plan may have limitations on partial or total withdrawals (surrenders), the start of annuity payments, and the type of annuity payout options you select. For Contracts purchased under a retirement plan, the plan may designate the available Investment Options under the Contract and may be required to provide direction regarding additions or replacements of Investment Options. Plans subject to Title I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") may be subject to additional plan and Contract provisions.

If you are purchasing the Contract as an individual, through certain after-tax arrangements such as an IRA or as a non-qualified contract, you are the owner of the Contract and retain the rights and authority to make decisions about your Contract including contributions, investment allocations, and

annuitization, subject to limitations discussed in this Prospectus. For example, if you purchase your Contract as a tax-deferred, non-qualified annuity, the Public Funds included in Appendix A will not be available as Variable Investment Options in your Contract.

The retirement savings process with the Contracts will involve two stages: the accumulation Purchase Period, and the annuity Payout Period. The accumulation period is when you make contributions into the Contracts called "Purchase Payments." The Payout Period begins when you decide to annuitize all or a portion of your Account Value. You can select from a wide array of payout options including both fixed and variable payments. For certain types of retirement plans, such as 403(b) plans, there may be statutory restrictions on withdrawals as disclosed in the plan documents. Refer to your plan document for guidance and any rules or restrictions regarding the accumulation or annuitization periods. For more information, see the "*Purchases and Contract Value*" and "*Annuity Period*" sections in this prospectus.

**For material state variations associated with the Contracts, see *Appendix C*.** 

**About the General Account** 

Any obligations under the Contract that are funded by our General Account, including death benefits and the Fixed Account Options, are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

If you have questions about your Contract, call your investment professional or contact us at 1-800-448-2542.

**About the Series** 

This prospectus describes 12 different Classes, which we call series, of the Contract. There are differences among the series with respect to surrender charges, other fees and charges,

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restrictions, and features. Each series is offered to certain group plans or through certain markets. The following table reflects the group plans and markets through which the series are offered.

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| | |
|:---|:---|
| **Series** | **Group Plans / Markets** |
| Series 1 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Plans; <br> Individual Retirement Accounts (IRAs)<br>|
| Series 2 | Higher Education Plans |
| Series 3<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 4<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 5 | Healthcare Plans; Higher Education Plans; <br> K-12 Plans<br>|
| Series 6 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Section 457 <br> Defined Contribution Plans; <br> Section 501(c)(3) Organization Plans<br>|
| Series 7 | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 8<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 9 | Certain Non-qualified Arrangements |
| Series 10<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 11 | Higher Education Plans |
| Series 12 | Government Section 457 Defined <br> Contribution Plans<br>|

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<sup>(1)</sup> Not available for new sales. New participants are allowed under existing Contracts.

<sup>(2)</sup> Not available for new sales. No new participants are allowed under existing Contracts.

**Transfers Among the Investment Options** 

You may transfer all or part of your Account Value between the various Variable Investment Options and Fixed Account Options in Portfolio Director up to the applicable limits without a charge. Transfers may be made during the Purchase Period or during the Payout Period, subject to certain restrictions. If you are enrolled in an Advisory Program, in order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program. **We reserve the right to limit the number, frequency (minimum period of time between transfers) or dollar amount of transfers you can make and to restrict the method and manner of providing or communicating transfers or reallocation instructions.** You will be notified of any changes to this policy through newsletters or information posted online at www.corebridgefinancial.com/rs.

*During the Purchase Period — Policy Against Market Timing and Frequent Transfers* 

VALIC has a policy to discourage excessive trading and market timing. Our Investment Options are not designed to accommodate short-term trading or "market timing" organizations, or individuals engaged in certain trading strategies, such as programmed transfers, frequent transfers, or transfers that are large in relation to the total assets of a Portfolio Company. These trading strategies may be disruptive to Portfolio Companies by diluting the value of the Portfolio Company shares, negatively affecting investment strategies and increasing portfolio turnover. Excessive trading may also raise Portfolio Company expenses, such as recordkeeping and transaction costs, and can potentially harm Portfolio Company performance. Further, excessive trading may harm Portfolio Company investors, as the excessive trading takes security profits intended for the entire Portfolio Company and could force securities to be sold to meet redemption needs. The premature selling and disrupted investment strategy could cause the Portfolio Company's performance to suffer, and exerts downward pressure on the Portfolio Company's price per share.

Accordingly, VALIC implemented certain policies and procedures intended to discourage short-term trading. If you sell Purchase Units in a Variable Investment Option valued at $5,000 or more, whether through an exchange, transfer, or any other redemption, you will not be able to make a purchase of $5,000 or more in that same Variable Investment Option for 30 calendar days.

This policy applies only to investor-initiated trades of $5,000 or more, and does not apply to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Plan-level or employer-initiated transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase transactions involving transfers of assets or rollovers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Retirement plan contributions, loans, and distributions (including hardship withdrawals);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Roth IRA conversions or IRA recharacterizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic purchases or redemptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic account reallocations and/or rebalancing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trades of less than $5,000.

Transfers resulting from your participation in the GPS Portfolio Manager Program or GPA Program administered by VALIC Financial Advisors, Inc. will not count against these transfer limitations.

As described in a Portfolio Company's prospectus and statement of additional information, in addition to the above, Portfolio Company purchases, transfers and other redemptions may be subject to other investor trading policies, including redemption fees, if applicable. Certain Portfolio Companies may set limits on transfers in and out of a Portfolio Company within a set time

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period in addition to or in lieu of the policy above. Also, an employer's benefit plan may limit an investor's rights to transfer.

We intend to enforce these investor trading policies uniformly. We make no assurances, however, that all the risks associated with frequent trading will be completely eliminated by these policies and/or restrictions. If we are unable to detect or prevent

market timing activity, the effect of such activity may result in additional transaction costs for the investment options and dilution of long-term performance returns. Thus, your account value may be lower due to the effect of the extra costs and resultant lower performance. We reserve the right to modify these policies at any time.

The Fixed Account Options are subject to additional restrictions:

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| | | | |
|:---|:---|:---|:---|
| **Fixed Account Option** | **Value** | **Frequency** | **Other Restrictions** |
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; Up to 20% per <br> Participant Year<br>| &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If you transfer assets from Fixed Account Plus to another investment <br> option, any assets transferred back into Fixed Account Plus within 90 <br> days may receive a different rate of interest than your new Purchase <br> Payments.<sup>(1)</sup><br>|
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If Account Value is less than or equal to $500. |
| Short-Term Fixed Account: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; After a transfer into the Short-Term Fixed Account, you may not make <br> a transfer from the Short-Term Fixed Account for 90 days.<sup>(2)</sup><br>|
| Multi-Year Option<sup>(3)</sup>: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Withdrawals or Transfers subject to market value adjustment if prior to <br> the end of an MVA term. Each MVA Band will require a minimum <br> transfer amount, as described in the Contract.<sup>(4)</sup><br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6-month & <br> DCA Fixed Account 12-<br> month<sup>(5)</sup>:<br>| &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Transfers can be made from a DCA Fixed Account Option at any time. <br> Only money remaining in the Option will earn interest. Transfers from <br> other Options are not allowed into the DCA Fixed Account Options at <br> any time.<br>|

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<sup>(1)</sup>

If multiple transfers are made in a Participant Year, the percentages of the Account Value transferred each time will be added together to determine the 20% transfer limit for that Certificate Year. Your employer may further limit or expand the restrictions. We may charge for those modified restrictions if specified in your employer's retirement plan. For Series 11 Contracts, see **Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** for transfers in excess of the 20% limitation.

<sup>(2)</sup>

VALIC may change this holding period at any time in the future, but it will never be more than 180 days.

<sup>(3)</sup>

The Multi-Year Option may not be available unless it has been selected as an option for your employer's retirement plan.

<sup>(4)</sup>

The minimum transfer amount may be changed from time to time by the Company.

<sup>(5)</sup>

The DCA Fixed Account 6-month & DCA Fixed Account 12-month Options are only available for individual retirement annuities.

Contracts issued in connection with certain plans or programs may have different transfer restrictions due to the higher interest rates offered on Fixed Account Plus. From time to time we may waive the 20% transfer restriction on Fixed Account Plus for transfers to the Multi-Year Option or to other Investment Options.

*Communicating Transfer or Reallocation Instructions* 

Transfer instructions may be given by telephone, through the internet, using the self-service automated phone system, or in writing. We encourage you to make transfers or reallocations through the internet or the self-service automated phone service for most efficient processing. We will send a confirmation of transactions to the Participant within five days from the date of the transaction. It is your responsibility to verify the information

shown and notify us of any errors within 30 calendar days of the transaction.

Generally, no one may give us telephone instructions on your behalf without your written or recorded verbal consent. Investment professionals or authorized broker-dealer employees who have received client permission to perform a client-directed transfer of value via the telephone or internet will follow prescribed verification procedures.

When receiving instructions over the telephone or online, we follow appropriate procedures to provide reasonable assurance that the transactions executed are genuine. Thus, we are not responsible for any claim, loss or expense from any error resulting from instructions received over the telephone or online. If we fail to follow our procedures, we may be liable for any losses due to unauthorized or fraudulent instructions. We

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reserve the right to modify, suspend, waive or terminate these transfer provisions at any time.

*Effective Date of Transfer* 

The effective date of a transfer will be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The date of receipt, if received in good order by us before Market Close; otherwise,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The next date values are calculated.

*Transfers During the Payout Period* 

During the Payout Period, transfer instructions must be given in writing and mailed to the Annuity Service Center. Transfers may be made between the Contract's Investment Options subject to the following limitations:

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| | | |
|:---|:---|:---|
| **Payout Option** | **% of Account Value** | **Frequency** |
| Variable Payout: | Up to 100% | Once every 365 days |
| Combination Fixed and Variable Payout: | Up to 100% of money in variable option payout | Once every 365 days |
| Fixed Payout: | Not permitted | N/A |

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**Other Contract Features**

*Changes That May Not Be Made* 

The following terms in the Contracts may not be changed once your account has been established:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner (except for an individual nonqualified Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annuitant.

*Change of Beneficiary* 

The beneficiary (if not irrevocable) may usually be changed ay any time. Two or more Beneficiaries may be designated to receive separate percentage interests in the death benefits payable under the contract. Each such Beneficiary may separately exercise the rights that a Beneficiary has under the Contract.

One of more contingent Beneficiaries may be designated. A contingent Beneficiary will receive benefits payable upon the Participant's death if all of the primary Beneficiaries have died prior to the Participant. A contingent Beneficiary will have all of the same rights as a Beneficiary during the Purchase Period or Payout Period.

Under some retirement programs, the right to name a Beneficiary other than the spouse or to change a Beneficiary is subject to approval by the spouse. Also, the right to name a Beneficiary other than the spouse may be subject to certain laws and regulations applicable to the plan.

If the Annuitant dies, and there is no Beneficiary, any death benefit will be payable to the Annuitant's estate, except in the case of a nonqualified Contract where the Contract Owner and

Annuitant are different, in which case the death benefit is paid to the Contract Owner or the Contract Owner's estate.

If a Beneficiary dies prior to the Participant, that Beneficiary's interest will be divided pro rata among the remaining Beneficiaries.

If a Beneficiary dies while receiving payments, and there is no co-Beneficiary to continue receiving payments, any amount still due will be paid to the Beneficiary's estate.

*Contingent Owner* 

The Contract Owner may name a contingent owner under an individual nonqualified Contract. During the Purchase Period, the contingent owner may be changed.

*We Reserve Certain Rights* 

We may amend the Contracts to comply with changes in federal tax, securities, or other laws. We may also make changes to the Variable Investment Options offered under the Contracts. For example, we may add new Variable Investment Options to expand the offerings for an asset class. We may stop accepting allocations and/or investments in a particular Variable Investment Option when not in the best interest of the Contract Owner or the Separate Account, such as when the shares of the underlying Portfolio Company are no longer available for investment or if, for example, the underlying Portfolio Company is dealing with material regulatory and/or legal issues, sustained performance downturns, or significant increases in expenses. We may move assets and re-direct future premium allocations from one Variable Investment Option to another in accordance with federal and state law and, in some cases, with SEC approval. The new Variable Investment Option offered may have different fees, expenses, objectives, strategies and risks.

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We may restrict your ability to combine Contracts and may modify or suspend or impose additional or different conditions with respect to options available under the Contracts, as may be allowed by federal or state law. We will not make any changes to the Contracts without Contract Owner and/or Participant (as applicable) permission except as may be allowed by federal or state law. We may add endorsements to the Contracts that would apply only to new Contract Owners and Participants after the effective date of the changes. These changes would be subject to approval by the Company and may be subject to approval by the SEC.

We reserve the right to operate VALIC Separate Account A as a management investment company under the applicable securities laws, and to deregister VALIC Separate Account A under applicable securities laws, if registration is no longer required.

We reserve the right to close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Variable Investment Options, with advance written notice. We may make the Fixed Account Options available or close the Fixed Account Options as frequently as we determine at any point in time while the Contract is in force, provided we give advance written notice in each case.

*Relationship to Employer's Plan* 

If the Contract is being offered under a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contracts in this prospectus.

**Annuity Period**

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The Annuity Period, also referred to as the Payout Period, begins when you decide to retire or when you elect to annuitize all or a portion of your Account Value. If your employer's plan permits, you may apply any portion of your Account Value to one of the types of payout options listed below. However, if you are Participant in an employer-sponsored retirement plan, the payout options available to you may differ or be limited based on your employer's plan.

You may choose to have your Payout Payments on a fixed, a variable, or a combination of fixed and variable basis. If you do not elect the basis upon which your Payout Payments will be made, the Payout Payments will mirror the allocation of Investment Options in your Contract upon annuitization. When you choose to have your Payout Payments on a variable basis, you may keep the same Variable Investment Options in which your Purchase Payments were made, or transfer to different ones. For example, if your Account Value is allocated solely to the Variable Investment Options upon annuitization and you have not made an election, your Payout Payments will be made on a variable basis, or if your Account Value is allocated solely to a Fixed Account Option, your Payout Payments will be made on a fixed basis. Similarly, if your Account Value is allocated to both Variable Investment Options and Fixed Account Options, Payout Payments will be made on a combination of fixed and variable basis.

**Payout Payments on a Fixed Basis** 

Under a payout on a fixed basis you will receive payments that are fixed and guaranteed by the Company. The amount of these payments will depend on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Type and duration of payout option chosen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your age or your age and the age of your survivor<sup>(1)</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your gender or your gender and the gender of your survivor<sup>(1)</sup> (IRAs and certain nonqualified Contracts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The portion of your Account Value being applied; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The payout rate being applied and the frequency of the payments.

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<sup>(1)</sup>

This applies only to joint and survivor payouts.

If the benefit would be greater, the amount of your payments will be based on the current payout rate the Company uses for immediate annuity contracts.

**Assumed Investment Rate** 

An "Assumed Investment Rate" or "AIR" is the rate used to determine your first monthly Payout Payment per thousand dollars of account value in your Variable Investment Option. When you decide to enter the Payout Period, you will select your Payout Option, your Annuity Date, and the AIR. If you choose a higher AIR, the initial Annuity Payment will be higher, but later payments will increase more slowly during periods of good performance and decrease faster during periods of poor investment performance Once the AIR is established, it cannot be changed. Rates of 3%, 3.5%, 4.5%, 5% or a higher rate may be chosen if permitted by state law and regulations. If no AIR is chosen, the AIR will be 3.5%. The dollar amount of the variable income payments stays level if the net investment return equals the AIR. Your choice of AIR may affect the duration and frequency of payments, depending on the Payout Option selected. For example, a higher AIR will generate a higher initial Payout Payment, but as Payout Payments continue they may become smaller, and eventually could be less than if you had initially selected a lower AIR. The frequency of the Payout Payments may lessen to ensure that each Payout Payment is at least $25 per month.

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**Payout Payments on a Variable Basis** 

With a payout on a variable basis, you may select from your existing Variable Investment Options. Your payments will vary accordingly. This is due to the varying investment results that will be experienced by each of the Variable Investment Options you selected. The Payout Unit value is calculated just like the Purchase Unit value for each Variable Investment Option except that the Payout Unit value includes a factor for the AlR you select. For additional information on how Payout Payments and Payout Unit Values are calculated, see the SAI*.* 

In determining your first Payout Payment, an AIR of 3.5% is used (unless you select a higher rate as allowed by state law). If the net investment experience of the Variable Investment Option exceeds your AIR, your subsequent payments will be greater than your first payment. If the investment experience of the Variable Investment Option is lower than your AIR, your subsequent payments will be less than your first payment.

**Payout Payments on a Combination of a Fixed and Variable Basis** 

With a combination fixed and variable payout, you may choose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• From your existing Variable Investment Options (payments will vary); with a

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed payout (payment is fixed and guaranteed).

**Partial Annuitization** 

You may choose to annuitize a portion of the Account Value. This will, in essence, divide the Account Value into two parts. The current non-annuitized part would continue as before and you can continue to take withdrawals on this part of the Account. The annuitized part will effectively be moved to a new Payout Payment account, which will not allow any additional withdrawals. Thus, the death benefit in such a situation would be reduced to the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account, such as a payout for a guaranteed period. Full or partial commutations are not permitted.

**Payout Date** 

The payout date is the date elected by you on which the annuity Payout Payments will start. The date elected must be the first of any month. A request to start payments must be received in the Annuity Service Center on a form or through other media approved by VALIC. This request must be received by VALIC by at least the fifteenth (15th) day of the month prior to the month you wish your annuity payments to start. Your account will be valued ten days prior to the beginning of the month in which the Payout Payments will start.

The following additional rules also apply when determining the payout date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for a nonqualified Contract, an IRA, or a Roth IRA, is established by the terms of the contract, and generally can be any time from age 50 to age 85, and may not be later than age 85 without VALIC's consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for all other qualified Contracts is generally subject to the terms of the employer-sponsored plan (including 403(b) plans and programs) under which the Contract is issued and the federal tax rules governing such Contracts and plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Distributions from qualified Contracts issued under employer-sponsored retirement plans generally are not permitted until after you stop working for the employer sponsoring the plan, unless you have experienced a qualifying financial hardship (or in the case of a 457(b) plan, an unforeseeable emergency) or unless you have become disabled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In certain cases, and frequently in the case of your voluntary deferrals to a 403(b) or a 401(k) plan, you may begin taking distributions when you attain age 59½ even if you are still working for the employer sponsoring the plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Except in the case of nonqualified Contracts, IRAs, and Roth IRAs, distributions generally must begin no later than April 1 following the calendar year you reach age 72 or the calendar year in which you retire, if later. Similar rules apply to IRAs, however distributions from those Contracts may not be postponed until after retirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All Contracts require distributions to commence within a prescribed period after the death of the Contract Owner/Participant, subject to the specific rules which apply to the type of plan or arrangement under which the contract is issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract may also impose minimum amounts for annuity payments, either on an annual or on a more frequent periodic basis.

For additional information on plan-level distribution restrictions and on the minimum distribution rules that apply to payments under 403(b), 401, 403(a) and 457 plans, simplified employee plans ("SEPs") or IRAs, see the "*Taxes*" section in this prospectus and the SAI.

**Payout Options** 

You may specify the manner in which your Payout Payments are made. You may select one of the following options:

1. ***Life Only*** — payments are made only to you during your lifetime. Under this option there is no provision for a death

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benefit for the Beneficiary. For example, it would be possible under this option for the Annuitant to receive only one Payout Payment if the Annuitant died prior to the date of the second payment, or two if the Annuitant died before the third payment.

2. ***Life with Guaranteed Period*** — payments are made to you during your lifetime, but if you die before the guaranteed period has expired, your Beneficiary can receive payments for the rest of your guaranteed period or take a lump-sum distribution.

3. ***Life with Cash or Unit Refund*** — payments are made to you during your lifetime. These payments are based upon your life expectancy and will continue for as long as you live. If you do not outlive the life expectancy calculated for you, upon your death, your Beneficiary may receive an additional payment. The additional payment under a fixed annuity, if any, is equal to the fixed annuity value of the Contract Owner's Account at the time it was valued for the payout date, less the Payout Payments. The additional payment under a variable annuity, if any, is equal to the variable annuity value of the Contract Owner's Account as of the date we receive Proof of Death, less the Payout Payments.

4. ***Joint and Survivor Life*** — payments are made to you during the joint lifetime of you and a second person. Upon the death of one, payments continue during the lifetime of the survivor. This option is designed primarily for couples who require maximum possible variable payouts during their joint lives and are not concerned with providing for beneficiaries at the death of the last survivor. For example, it would be possible under this option for the joint Annuitants to receive only one payment if both Annuitants died prior to the date of the second payment, or for the joint Annuitants to receive only one payment and the surviving Annuitant to receive only one payment if one Annuitant died prior to the date of the second payment and the surviving Annuitant dies prior to the date of the third payment. For example, if the Annuitant dies before receiving a Payout Payment the first Payout Payment will be made to the second designated person. If both the Annuitant and the second designated person die before the first Payout Payment is made, no Payout Payments will be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. ***Payment for a Designated Period*** — payments are made to you for a select number of years between five and 30. Upon your death, payments will continue to your Beneficiary until the designated period is completed.

**Payout Information** 

**Once your Payout Payments have begun, the option you have chosen may not be stopped or changed**. Any one of the Variable Investment Options may result in your receiving unequal payments during the Payout Period. If payments begin before age 59½, you may suffer unfavorable tax consequences, in the form of a penalty tax, if you do not meet an exception under federal tax law. See the "*Taxes*" section in this prospectus.

Under certain retirement plans, federal pension law may require that payments be made under the joint and survivor life payout option.

Most Payout Payments are made monthly. The first Payout Payment must total at least $25, and the annual payment must be at least $100. If the amount of a payment is less than $25, we reserve the right to reduce the frequency of payments so that each payment is at least $25, subject to any limitations under the Contract or plan.

**Impact of Advisory Program Fees on Payout Payments** 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee will reduce the annuitization benefit. The examples below assess the impact of the deduction of Advisory Program Fees on the Contract's value upon annuitization, assuming an initial $100 deposit.

1. If, at the payout date, the Contract value has increased to $120 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $119. Your Payout Payments will be based on a Contract value of $119.

2. If, at the payout date, the Contract value has decreased to $90 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $89. Your Payout Payments will be based on a Contract value of $89.

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**Benefits Available Under the Contract**

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**The following tables summarize information about the benefits available under the Contract.** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Interest <br> Guaranteed Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments plus <br> interest<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Payable only if death occurs before age 70<br> •May not be available in all states<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Standard Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Generally payable only if death occurs on <br> or after age 70<br> •Payable in any state where the interest <br> guaranteed death benefit is not available, <br> even if death occurs before age 70<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals may be subject to surrender <br> charges<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|
| No Charge <br> Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period <br> without surrender <br> charges<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals must be made to you over a <br> period of not less than five years, and the <br> annual amount withdrawn may not exceed <br> 20% of Account Value at time of election<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •May not change election once withdrawals <br> begin<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|

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|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Loans | &nbsp;&nbsp; Provides tax-free <br> access to amounts <br> invested in Fixed <br> Account Options <br> (excluding Multi-<br> Year Enhanced <br> Options)<br>| Optional | &nbsp;&nbsp; $75 application <br> fee (per loan, <br> where permitted <br> by state law)<br> Maximum net <br> interest rate 6%<br>| &nbsp;&nbsp;&nbsp; •Available only during the Purchase Period<br> •May not be taken against amounts <br> invested in Variable Investment Options or <br> Multi-Year Enhanced Options<br> •Interest will accrue on outstanding loan <br> amounts<br> •Will automatically terminate an optional <br> Living Benefit<br> •Minimum loan amount is $1,000<br>|
| Advisory Program | &nbsp;&nbsp; The investment <br> advice service <br> provided by your <br> Investment <br> Adviser<br>| Optional | Not applicable | &nbsp;&nbsp;&nbsp; •A separate investment advisory fee and <br> agreement is required<br> •May not be available under your <br> employer's retirement plan or in <br> connection with your Contract<br> •Participation may automatically terminate <br> an optional Living Benefit<br> •If you pay any investment adviser fee from <br> the Contract, any deduction may reduce <br> the death benefit, optional living benefit <br> and annuity benefits, and may be subject <br> to surrender charges, federal and state <br> income taxes and a 10% federal penalty <br> tax.<br> •You are encouraged to discuss the <br> Advisory Program with your financial <br> professional and the impact that Advisory <br> Fees may have on your Contract Value <br> before electing to enroll in the Advisory <br> Program.<br> •For new investors, we no longer honor <br> investment adviser transfer requests in <br> connection with Advisory Programs that <br> are offered through third-party Investment <br> Advisers.<br>|
| American Home <br> Guarantee<br>| &nbsp;&nbsp; For certain <br> Contracts and <br> certificates, <br> provides an <br> additional financial <br> guarantee with <br> respect to our <br> insurance <br> obligations<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Applies only to Contracts or certificates <br> issued on December 29, 2006 or earlier<br> •Additional financial guarantee is subject to <br> American Home's financial strength and <br> claims-paying ability<br> •Does not guarantee Contract value or the <br> investment performance of the Variable <br> Investment Options<br>|

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|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| DCA Program | &nbsp;&nbsp; Allows you to <br> systematically <br> transfer a <br> specified dollar <br> amount or <br> percentage of <br> contract value <br> between eligible <br> investment <br> options<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Systematic transfers may only occur on a <br> monthly basis and will not count towards <br> the number of free transfers per contract <br> year<br> •Minimum Purchase Payment amounts <br> apply<br> •Only available in newly issued series 1 (in <br> an individual IRA) or series 9 (NQDA)<br> •Not available in all states<br>|

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|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +6 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 6%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is reduced in any benefit <br> year in which withdrawals are taken, and <br> not available in any benefit year in which <br> cumulative withdrawals are greater than <br> 6% of the Benefit Base<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | |
|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +8 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 8%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is not available in any <br> benefit year in which a withdrawal is taken<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| IncomeLOCK | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed to help <br> you create a <br> guaranteed <br> income stream for <br> a specified period <br> of time or as long <br> as you live (and <br> potentially a <br> specified period of <br> time for your <br> spouse if he or <br> she continues the <br> Contract and this <br> benefit after your <br> death), plus the <br> opportunity to <br> increase income <br> by locking in the <br> highest <br> anniversary value<br>| Optional | &nbsp;&nbsp; 0.95%\*<br> (as a percentage <br> of the Benefit <br> Base)<br>| &nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseIneligible <br> for highest anniversary value evaluation <br> period extension if any previous extension <br> opportunity was not elected or age <br> requirements are not satisfied<br> •Maximum charge may increase if <br> evaluation period is extended<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Withdrawal percentage depends on timing <br> of the first withdrawal<br> •Eligible for lifetime withdrawals only if the <br> first withdrawal is taken on or after the <br> benefit anniversary following your 65th <br> birthday. If, after your death, your spouse <br> continues the Contract and continued <br> withdrawals under this guaranteed <br> minimum withdrawal benefit, the <br> withdrawals are for a specified period of <br> time, not the spouse's life<br> •Investment restrictions may limit available <br> investment options<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May be cancelled by you on the 5th or <br> 10th benefit anniversary or any benefit <br> anniversary thereafter<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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\* If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%, and your maximum annual fee rate may increase beyond 1.15% if the Company offers an extension beyond the initial extension. See "Appendix B – Living Benefits."

**Advisory Program**

The Contract may be used where you have engaged an Investment Adviser to provide advice regarding the periodic allocation of investments within the Contract. As long as you are enrolled in an Advisory Program, your Investment Adviser will provide you with investment advice and will be responsible for providing transfer and reallocation instructions to VALIC. You may terminate an Advisory Program at any time. If you terminate the Advisory Program, your Contract will remain in force.

Your Investment Adviser is not acting on VALIC's behalf but rather is acting on your behalf. Whether your Investment Adviser is VFA or a third-party, VALIC is not responsible for any investment advice that is provided to you by your Investment Adviser. VALIC does not offer advice about how to allocate your Account Value. VALIC is not responsible for any recommendations that your Investment Adviser makes, any investment models or asset allocation programs they choose to follow, or any specific transfers that are made on your behalf.

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*For new investors, we no longer honor transfer instructions in connection with Advisory Programs that are offered through third-party Investment Advisers.*

*Advisory Agreement and Fees* 

**When you enroll in an Advisory Program you will enter into an investment advisory agreement with your Investment Adviser ("Advisory Agreement"). VALIC is not a party to the Advisory Agreement.** 

**Your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of advisory fees under the Advisory Program (the "Advisory Program Fee") pursuant to authorizations that you have provided to your Investment Adviser.** If you are enrolled in an Advisory Program with VFA, our affiliate, VALIC will be provided with a copy of your Advisory Agreement, which provides for authorization by you for VALIC to deduct the Advisory Program Fee from your Account Value. The Advisory Program Fee charged by your Investment Adviser is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Partial withdrawals, including those taken to pay the Advisory Program Fee, can reduce certain benefits guaranteed under the Contract, including Contract death benefits and other annuity benefits. This reduction of these guaranteed benefits resulting from the withdrawal for payment of the Advisory Program Fees will be the dollar amount of the fee assessed by your investment adviser, and, as described above, is based on a percentage of the Account Value managed by the Advisory Program. For a more detailed explanation about how the assessment of the Advisory Program Fees can affect the benefits under this Contract, please see **Impact of Advisory Program Fees** in the *"Description of Insurance Company, Registered Separate Account, and Investment Options"* and *"Annuity Period"* sections.

If your Contract is an IRA or Roth IRA, partial withdrawals to pay the Advisory Program Fee generally can qualify as expenses of the IRA and thus qualify as non-taxable. Partial withdrawals from a non-qualified Contract are treated as a taxable distribution. Effective January 1, 2020, however, fees taken from a non-qualified individual contract used to pay the Advisory

Program Fee for the Advisory Programs offered through VFA are not considered distributions or withdrawals from the account for tax purposes and therefore not treated as a taxable distribution beginning with the 2020 tax year. If you are under age 59 ½, withdrawals may be subject to an additional 10% tax. If you participate in a third-party Advisory Program, which means VFA is not your Investment Adviser, partial withdrawals, including Investment Adviser fees, taken from a non-qualified individual contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution. You should consult with your tax advisor for any advice regarding potential tax considerations relating to the payment of the Advisory Program Fee from your Contract.

If VFA is your Investment Adviser, the Advisory Program Fee must be withdrawn from your Contract. If you enroll in a third-party Advisory Program, a fee for that program might be paid either by you directly (from assets outside of the Contract) or from the Contract, depending upon the provisions of that program and the type and frequency of the payment required. You should consult with your Investment Adviser about any questions related to the payment of the fee.

Please see the "*Taxes*" section and consult your tax professional regarding the impact of deducting advisory fees before making any election to do so.

*Reallocations & Transfer Instructions* 

While the Advisory Program is in place, you are prohibited from making transfers among Investment Options in the Contract. During such period, transfer instructions may only be provided by the Investment Adviser. If you terminate the Advisory Program, you may make transfers among the Investment Options subject to the transfer restrictions noted in the "*General Description of the Contracts*" section of this Prospectus.

Unless you direct us otherwise, your Investment Adviser will forward instructions regarding the allocation of your Account Value, and will request financial transactions involving investment options. **If your Investment Adviser has this authority, we deem that all such transactions that are directed by your Investment Adviser with respect to your Contract have been authorized by you.** You will receive a confirmation of any financial transactions involving the purchase or sale of Purchase Units. You must contact VALIC immediately by calling 1-800-448-2542 to request a termination form if and when you want to revoke such authority. We will not be responsible for acting on instructions from your Investment Adviser until we receive notification of the revocation of such person's authority. We may also suspend, cancel or limit the Investment Adviser's authorization at any time. In addition, we may restrict the Investment Options available for transfers or allocation of Purchase Payments. We will notify you and your Investment Adviser if we implement any such restrictions or prohibitions.

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Transfers and reallocations made by your Investment Adviser are subject to the restrictions on transfers between Investment Options that are discussed in the "*General Description of the Contracts*" section of this Prospectus.

*Termination of the Advisory Program* 

You may terminate the Advisory Program at any time. However, the terms and conditions of how to terminate the Advisory Program will be set forth in your Advisory Agreement. Please consult with your Investment Adviser if you have questions about terminating the Advisory Program. We may continue to rely on instructions from your Investment Adviser until we receive notice of termination of the Advisory Agreement. If you want to notify us about the termination of your Advisory Program, please call 1-800-448-2542 to request the termination form. If you terminate the Advisory Program, your Contract will remain in force.

In order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program.

**Death Benefits**

The Contracts will pay death benefits during either the Purchase Period or the Payout Period.

*The Process* 

VALIC requires that complete and acceptable documentation and paperwork be received from the Beneficiary in order to begin the death benefit payment process. First, Proof of Death is required. Proof of Death is defined as a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death or a written statement by an attending physician. Additionally, the Beneficiary must include an election specifying the distribution method and any other form required by VALIC or a regulator to process the claim. The account will not be valued, and any payments will not be made until all paperwork is complete and in a form acceptable to VALIC. Your Beneficiary may contact us at 1-800-448-2542 with any questions about required documentation and paperwork. Death benefits are paid only once per Contract.

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit will be payable. Please see Impact of the Deduction of Advisory Program Fees on Death Benefit below regarding impacts to your death benefit due to the deduction of Advisory Program Fees.

*Beneficiary Information* 

The Beneficiary may receive death benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a lump sum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the form of an annuity under any of the Payout Options;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In partial payments over the Beneficiary's life expectancy (where permitted); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a manner mutually agreeable between the Beneficiary and VALIC that is in accordance with applicable laws and regulations.

Payment of any death benefits must be within the time limits set by federal tax law, if any. In the case of an IRA, a spousal Beneficiary may continue the Contract or may roll the funds over to an IRA. If the Beneficiary elects a life annuity for a designated or fixed period, the guarantee period cannot exceed the Beneficiary's life expectancy. After choosing a payment option, a Beneficiary may exercise many of the investment options and other rights that the Participant or Contract Owner had under the Contract.

*Special Information for Nonqualified Contracts* 

It is possible that the Contract Owner and the Annuitant under a nonqualified Contract may not be the same person. If this is the case, and the Contract Owner dies, there will be no death benefit payable since the death benefit is only due in the event of the Annuitant's death. However, the Contract will be assigned to the contingent owner, if any, or to the Contract Owner's estate. Such transfers may be considered a taxable event by the IRS. In general, payments received by your Beneficiaries after your death are taxed in the same manner as if you had received the payments. See the *"Taxes*" section.

*During the Purchase Period* 

Two types of benefits are available if death occurs during the Purchase Period: interest guaranteed death benefit and standard death benefit. The Beneficiary will receive the greater of these two benefits. The interest guaranteed death benefit ensures that the Beneficiary receives at least a minimum death benefit under the Contract, even if invested in Variable Investment Options, while the standard death benefit guarantees the return of Purchase Payments less any prior withdrawals.

As indicated above, a Contract Owner may elect to annuitize only a certain portion and leave the remaining value in the account. The death benefit in such situations would include the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account.

*Death Benefit Before Age of 70* 

The interest guaranteed death benefit is payable when death occurs prior to your reaching the age of 70, provided that the benefit is available in your state.

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The interest guaranteed death benefit is generally calculated as is shown below. The calculation becomes more complex based upon the transfers between available investment options or product exchanges. Thus, the death benefit may only be calculated for a Beneficiary once VALIC receives all paperwork, including satisfactory proof of death, complete and in a form acceptable to VALIC.

*Step 1*: Determine your Fixed Account Option Value by taking the greater of:

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| | |
|:---|:---|
|  | Value of Fixed Account Option on date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Fixed Account <br> Option<br>|
|  | – **(minus)** |
|  | Amount of all prior withdrawals from the Fixed Account <br> Option, charges and any portion of Account Value <br> applied under a Payout Option<br>|

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*Step 2*: Determine your Variable Investment Option Value by taking the greater of:

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| | |
|:---|:---|
|  | Value of Variable Investment Options on date all <br> paperwork is complete and in a form acceptable to <br> VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Variable <br> Investment Options<br>|
|  | – **(minus)** |
|  | Amount of prior withdrawals (out of) or transfers (out <br> of) the Variable Investment Options<br>|
|  | + **(plus)** |
|  | Interest at an annual rate as specified in your Contract |

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*Step 3*: Add step 1 + 2 = Death Benefit

For purposes of this calculation amounts transferred into the Variable Investment Option will be treated as Purchase Payments.

This value may be adjusted if the total amount of any death benefit exceeds the Account Value.

*Death Benefit On or After Age 70* 

The standard death benefit is payable if death occurs on or after age 70, or at any age in a state where the interest guaranteed death benefit is not available.

The standard death benefit will be the greater of:

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| |
|:---|
| Your Account Value on the date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |
| 100% of Purchase Payments (to Variable Investment <br> Options and/or Fixed Account Options)<br>|
| **(minus)** |
| Amount of all Prior Withdrawals, Charges and any <br> portion of Account Value applied under a Payout Option<br>|

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*Adjusted Purchase Payment Amount* 

The information below is applicable to you only if you received a Death Benefit Endorsement or Amendatory Endorsement with your Contract or certificate.

If the total amount of any death benefit payable from the Variable Investment Options and Fixed Account Options under the Contract exceeds the Account Value as of the date all paperwork is complete and in a form acceptable to VALIC, then the total death benefit paid may be adjusted to limit the death benefit due to withdrawals. An Adjusted Purchase Payment Amount will be calculated, on the date all paperwork is complete and in a form acceptable to VALIC, determined as follows:

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| | |
|:---|:---|
| A. | 100% of Purchase Payments |
| – | **(minus)** |
| B. | Gross Withdrawals (see below) and any portion of <br> Account Value applied under a Payout Option<br>|
| + | **(plus)** |
| C. | Interest on the result of A minus B at an annual rate as <br> specified in your Contract (see below).<br>|

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Each "Gross Withdrawal" is calculated by multiplying the Adjusted Purchase Payment Amount by a fraction. The numerator of the fraction is the amount of the withdrawal plus any associated fees and charges. The denominator of the fraction is the Account Value immediately prior to the withdrawal. Thus, each Gross Withdrawal will proportionately reduce the Adjusted Purchase Payment Amount. The interest adjustment in C. above is added only if you are under age 70 at the time of death.

The Contract death benefit and the Adjusted Purchase Payment Amount are compared. The lesser amount is then compared to the Account Value, and the beneficiary will receive the greater of those two amounts.

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*During the Payout Period* 

If the Annuitant dies during the Payout Period, the Beneficiary may receive a death benefit depending on the payout option selected. The amount of death benefit will also depend on the payout option that you selected. The payout options available are described in the "*Annuity Period*" section of this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life only option or joint and survivor life option was chosen, there will be no death benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life with guaranteed period option, life with cash or unit refund option or payment for a designated period option was chosen, and the entire amount guaranteed has not been paid, the Beneficiary may choose one of the following within 60 days after death benefits are payable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Receive the present value of any remaining payments in a lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Receive the remaining payments under the same terms of the guaranteed period option chosen by the deceased Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Receive the present value of any remaining payments applied under the payment for a designated period option for a period equal to or shorter than the period remaining. Spousal Beneficiaries may be entitled to more favorable treatment under the Contract and/or under federal tax law, including additional permitted delays before beginning distributions, as well as being able to continue the Contract as their own and not as a beneficiary account.

*Impact of the Deduction of Advisory Program Fees on Death Benefit* 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the death

benefit. The examples below assess the impact of the Advisory Program Fee on the Contract's death benefit assuming an initial $100 deposit and no additional payments and no withdrawals.

1. If, at the end of the year, the Contract value increases to $120 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $119. If you die, your Contract's death benefit is $119.

2. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee will not reduce the death benefit which will be at least $100 (your premium payment) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Please note that if you are participating in an Advisory Program offered through a third-party Investment Adviser, the example below instead applies. Example 2 does not apply to you.** 

3. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee **<u>will</u>** reduce the death benefit to $99 (your premium payment less Advisory Program Fees deducted) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Purchases and Contract Value**

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The Purchase Period begins when your first Purchase Payment is made and continues until you begin your Payout Period. This period may also be called the accumulation period, as you save for retirement. Changes in the value of each Variable Investment Option and Fixed Account Option are reflected in your overall Account Value. Thus, your investment choices and their performance will affect the total Account Value that will be available for the Payout Period. The amount, number, and frequency of your Purchase Payments may be determined by the retirement plan for which your Contract was purchased. The Purchase Period will end upon death, upon surrender, or when you complete the process to begin the Payout Period.

**Account Establishment** 

You may establish an account through an investment professional. Initial Purchase Payments must be received by VALIC either with, or after, a completed application. If part of an employer-sponsored retirement plan, your employer is responsible for remitting Purchase Payments to us. The employer is responsible for furnishing instructions to us (a premium flow report) as to the amount being applied to your account (see below). Purchase Payments can also be made by you for IRAs and certain nonqualified Contracts.

The maximum single payment that may be applied to any account without prior Home Office approval is $1,000,000.

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Minimum initial and subsequent Purchase Payments are as follows:

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| | | |
|:---|:---|:---|
| **Contract Type** | **Initial**<br> **Payment**<br>| **Subsequent**<br> **Payment**<br>|
| Periodic Payment | &nbsp;&nbsp; $30 | &nbsp;&nbsp; $30 |
| Single Payment | &nbsp;&nbsp; $1000 | &nbsp;&nbsp; N/A |

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Periodic Payment minimums apply to each Periodic Payment made. The Single Payment minimum applies to each of your accounts.

When an initial Purchase Payment is accompanied by an application, we will promptly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accept the application and establish your account within 2 Business Days. We will also apply your Purchase Payment by crediting the amount, effective the date we accept your application, to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Request additional information to correct or complete the application. In the case of an individual variable annuity Contract, we will return the Purchase Payments within 5 Business Days if the requested information is not provided, unless you otherwise so specify. Once you provide us with the requested information, we will establish your account and apply your Purchase Payment, effective the date we accept your application, by crediting the amount to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reject the application and return the Purchase Payment.

If we receive Purchase Payments from your employer before we receive your completed application or enrollment form, we will not be able to establish a permanent account for you. If this occurs, we will take one of the following actions:

*Return Purchase Payments*. If we do not have your name, address or Social Security Number ("SSN"), we will return the Purchase Payment to your employer unless this information is immediately provided to us; or

*Employer-Directed Account*. At the direction of your employer, provided on a form acceptable to VALIC and accompanied by certain necessary information (such as name, address, and SSN), we may establish an account for you. In that case we will deposit your Purchase Payment in an "Employer-Directed" account invested in a Money Market Division, or other Investment Options chosen by your employer, and provide a Contract or certificate. If you want an investment professional to assist you in allocating these amounts, you will first need to provide certain personal and financial information that may be required by the investment professional in order to provide such assistance; or

*Starter Account*. If we have your name, address and SSN, but we do not have an agreement with your employer for employer-directed accounts, we will deposit your Purchase Payment in a "starter" account invested in the Money Market Division option available for your plan or other Investment Options chosen by your employer. We will send you a follow-up letter requesting the information necessary to complete the application, including your allocation instructions. If we do not receive the necessary information within 105 days, we may return the Purchase Payment to your employer or convert the account to an "unsolicited" account which would be subject to many of the same restrictions as a starter account. You may not transfer these amounts until VALIC has received a completed application or enrollment form.

If mandated under applicable law, we may be required to reject a Purchase Payment. We may also be required to block a Contract Owner's account and thereby refuse to pay any request for transfers, withdrawals, surrenders, loans or death benefits, until instructions are received from the appropriate regulatory authority.

**When Your Account Will Be Credited** 

Depending on your retirement plan, Purchase Payments may be made by your employer for your account or by you for an IRA or certain nonqualified Contracts. It is the employer's or the individual's responsibility to ensure that the Purchase Payment can be promptly posted to the appropriate account(s).

A Purchase Payment must be "in good order" before it can be posted to your account. "In good order" means fully and accurately completed form(s) and/or instructions, including necessary documentation, and that all required information and/or documentation to any given transaction has been received by us and that, where applicable, the funds (check, wire, or ACH) clearly identify the individual SSN or Group Number to which they are to be applied. To ensure efficient posting for Employer-Directed accounts, Purchase Payment information must include complete instructions, including the group name and number, each employee's name and SSN, contribution amounts (balanced to the penny for the total purchase) and the source of the funds (for example, employee voluntary, employer mandatory, employer match, transfer, rollover or a contribution for a particular tax year). Purchase Payments for individual accounts must include the name, SSN, and the source of the funds (for example, transfer, rollover, or a contribution for a particular tax year).

If a subsequent Purchase Payment is in good order as described and is received by our bank by Market Close, the appropriate account(s) will be credited the Business Day of receipt. Purchase Payments in good order received after Market Close will be credited on the next Business Day. See **Account Establishment** above for information about initial Purchase Payments.

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Note that if the Purchase Payment is not in good order, the employer or individual will be notified promptly. No amounts will be posted to any accounts until all issues with the Purchase Payment have been resolved. If a Purchase Payment is not received in good order, the purchase amounts will be posted effective the Business Day all required information is received.

We will allocate Purchase Payments (less any charges) to the Variable Investment Options and Fixed Account Options selected by you. Each selection must be a whole percentage of Purchase Payments.

Throughout the duration of the Contract, VALIC may close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Investment Options, with advance written notice. VALIC may make the Fixed Account Options available or close the Fixed Account Options as frequently as it determines at any point in time while the Contract is in force, provided that VALIC gives advance written notice in each case.

**Purchase Units** 

A Purchase Unit is a unit of interest owned by you in your Variable Investment Option. Purchase Unit values are calculated each Business Day following Market Close. Purchase Units may be shown as "Number of Shares" and the Purchase Unit values may be shown as "Share Price" on some account statements.

**Calculation of Value for Fixed Account Options** 

The Fixed Account Plus, Short-Term Fixed Accounts, and DCA Fixed Accounts are part of the Company's general assets. The Multi-Year Option may be invested in either the general assets of the Company or in a separate account of the Company, depending upon state requirements. You may allocate all or a portion of your Purchase Payment to the Fixed Account Options listed in **Fixed Account Options** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus. Purchase Payments you allocate to these Fixed Account Options are guaranteed to earn at least a minimum rate of interest. Interest is paid on each of the Fixed Account Options at declared rates, which may be different for each option. With the exception of a market value adjustment, which generally will be applied to withdrawals or transfers from a Multi-Year Option prior to the end of an MVA term, we bear the entire investment risk for the Fixed Account Options. All Purchase Payments and interest earned on such amounts in your Fixed Account Option will be paid regardless of the investment results experienced by the Company's general assets. The minimum amount to establish each new Multi-Year Option guarantee period (MVA Band), as described in the Contract, may be changed from time to time by the Company.

The value of your Fixed Account Option is calculated on a given Business Day as shown below:

Value of Your Fixed Account Options\*

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| | |
|:---|:---|
| **=** | **(equals)** |
|  | &nbsp;&nbsp; All Purchase Payments made to the Fixed Account <br> Options<br>|
| **+** | **(plus)** |
|  | &nbsp;&nbsp; Amounts transferred from Variable Investment <br> Options to the Fixed Account Options<br>|
| + | **(plus)** |
|  | All interest earned |
| – | **(minus)** |
|  | &nbsp;&nbsp; Amounts transferred or withdrawn from Fixed Account <br> Options (including applicable fees and charges)<br>|

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\*

This value may be subject to a market value adjustment under the Multi-Year Option.

**Calculation of Value for Variable Investment Options** 

You may allocate all or a portion of your Purchase Payments to the Variable Investment Options listed in this prospectus as permitted by your retirement program. An overview of each of the Variable Investment Options may be found in "*Appendix A – Investment Options Available Under the Contract*" and **Variable Investment Options** in the "*Description of the Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus and in each Portfolio Company's prospectus. The Purchase Unit value of each Variable Investment Option will change daily depending upon the investment performance of the underlying Portfolio Company (which may be positive or negative) and the deduction of the Separate Account Charges. See "*Charges and Adjustments*." Your account will be credited with the applicable number of Purchase Units, including any dividend or capital gains per share declared on behalf of the underlying Portfolio Company as of that day. The number of Purchase Units you are credited is calculated the day we process your Purchase Payment. Please see the **When Your Account Will Be Credited** section above.

The Purchase Unit value is determined by multiplying the Purchase Unit value for the preceding Business Day by a factor for the current Business Day. The factor is determined by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. dividing the net asset value per share of the Underlying Portfolio Company at the end of the current Business Day, plus any dividend or capital gains per share declared on behalf of the Underlying Portfolio Company as of that day, by the net asset value per share of the Underlying Portfolio Company for the previous Business Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. multiplying it by one minus all applicable daily asset-based charges.

We determine the number of Purchase Units credited to your contract by dividing the Purchase Payment by the Purchase Unit value for the specific Variable Investment Option.

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If the Purchase Payment is in good order as described and is received by us by Market Close, the appropriate account(s) will be credited the Business Day of receipt and will receive that Business Day's Purchase Unit value. Purchase Payments in good order received by us after Market Close will be credited the next Business Day and will receive the next Business Day's Purchase Unit value. Because Purchase Unit values for each Variable Investment Option change each Business Day, the number of Purchase Units your account will be credited with for subsequent Purchase Payments will vary. **Each Variable Investment Option bears its own investment risk. Therefore, the value of your account may be worth more or less at retirement or withdrawal and the entire loss of principal is possible.** 

During periods of low short-term interest rates, and in part due to Contract fees and expenses, the yield of the Goldman Sachs VIT Government Money Market Fund may become extremely low and possibly negative. If the daily dividends paid by the underlying Portfolio Company are less than the daily portion of the Separate Account Charges, the Purchase Unit value will decrease. In the case of negative yields, your investment in the Variable Investment Option, which invests in the Goldman Sachs VIT Government Money Market Fund, will lose value.

**Stopping Purchase Payments** 

You may stop Purchase Payments at any time. You may resume Purchase Payments thereafter during the Purchase Period. The value of the Purchase Units will continue to vary, and your

Account Value will continue to be subject to charges. The Account Value will be considered surrendered when you begin the Payout Period. You may not make Purchase Payments during the Payout Period.

If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. We will not assess a surrender charge in this instance. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Principal Underwriter** 

The principal underwriter of the Contracts is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company due to common ownership, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

**Impact of Deduction of Advisory Program Fee on Purchase Payments** 

If you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, and the Advisory Program Fee is deducted from your Contract value, the deduction of such fee will result in reduction of Purchase Units by the amount of the fee.

**Surrenders and Withdrawals**

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**When Surrenders Are Allowed** 

You may withdraw all or part of your Account Value at any time before the Payout Period begins if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under federal and state law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under your employer's plan.

For Purchase Payments that are contributions made under your employer's plan, such as a 401(a) or (k) qualified cash or deferred arrangement or a 403(b) plan, surrenders are subject to the terms of the plan, in accordance with the Code. Qualified plans often require certain conditions to be met before a distribution or withdrawal may take place. See **Surrender Restrictions** below*.* 

For an explanation of charges that may apply if you surrender your Account Value, see the "*Charges and Adjustments*" section in this prospectus*.* Additionally, you may incur a 10% federal tax penalty for partial or total surrenders made before age 59½.

*Delay of payment.* We may be required under applicable law to block a request for a surrender until we receive instructions from the appropriate regulator, due to the USA Patriot Act. In

addition, we may defer making payments from the Fixed Account Options for up to six months, or less, if required by law. If payment is deferred, interest will accrue until the payment is made.

VALIC may be required to suspend or postpone the payment of a withdrawal for more than 7 days when: (1) the NYSE is closed (other than a customary weekend and holiday closings); (2) trading with the NYSE is restricted; (3) an emergency exists such that disposal of or determination of the value of shares of the Variable Investment Options is not reasonably practicable; or (4) the SEC, by order, so permits for the protection of Contract Owners.

**Surrender Process** 

If you are allowed to surrender all or a portion of your Account Value during the Purchase Period as noted above, then you must complete a surrender request form or information required in other approved media, and submit it to the Annuity Service Center. We will mail the surrender value to you within seven calendar days after we receive your request if it is in good order.

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We may be required to suspend or postpone payments if redemption of an underlying Portfolio Company's shares have been suspended or postponed. See the applicable Portfolio Company prospectus for a discussion of the reasons why the redemption of shares may be suspended or postponed*.* 

We may receive a surrender for a Purchase Payment that has not cleared the banking system. We may delay payment of that portion of your surrender value until the check or the electronic funds transfer clears.

**Amount That May Be Surrendered** 

The amount that may be surrendered during the Purchase Period can be determined as follows:

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| | | |
|:---|:---|:---|
| Allowed<br> Surrender<br> Value<br>| **= (equals)** | &nbsp;&nbsp; Your Account Value<sup>(1)</sup> <br>- **(minus)**<br> Any Applicable<br> Surrender Charge<br>|

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<sup>(1)</sup>

Equals the Account Value next computed after your properly completed request for surrender is received in the Annuity Service Center.

There is no guarantee that the surrender value in a Variable Investment Option will ever equal or exceed the total amount of your Purchase Payments received by us. The surrender value in a Fixed Account Option will never be less than the Purchase Payments allocated to the Fixed Account Option (less amounts transferred to a Variable Investment Option or withdrawn from the Fixed Account Option).

**Surrender Restrictions** 

Generally, Code section 403(b)(11) permits total or partial distributions from your voluntary contributions to a 403(b) contract only on account of hardship (employee contributions only without accrued interest), attainment of age 59½, separation from service, death or disability. Similar restrictions apply to any amount transferred to a 403(b) contract from a 403(b)(7) custodial account. In addition, beginning for contracts issued on or after January 1, 2009, employer contributions and non-elective contributions to a 403(b) annuity contract are subject to restrictions specified in Treasury regulations as specifically imposed under the employer's plan.

Under the ***Texas State Optional Retirement Program***, no surrender or partial surrender will be allowed except upon attainment of age 70½, retirement or other termination of employment or death.

Under the ***Florida State Optional Retirement Program***, no surrender or partial surrender of Purchase Payments made by the employer will be allowed except upon termination of employment, retirement or death. Benefit payments based on payments from the employer may not be paid in a lump sum or

for a period certain, but must be paid under a life contingency option, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• death benefits; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• certain small amounts approved by the State of Florida.

Under the ***Louisiana Optional Retirement Plan***, retirement benefits must be paid in the form of a lifetime income option.

Single sum surrenders and partial surrenders out of the plan are not permitted, unless they are rollovers to another qualified plan or IRA, except for death benefits.

Other employer-sponsored plans may also impose restrictions on the timing and form of surrenders from the Contract.

**Partial Surrenders** 

You may request a partial surrender of your Account Value at any time during the Purchase Period, subject to any applicable surrender restrictions. A partial surrender plus any surrender charge will reduce your Account Value. You may specify an amount to be taken from each Portfolio Company or the amount will be distributed pro-rata against all Portfolio Companies. If you do not specify, the distribution will be taken pro-rata against the Variable Investment Options and Fixed Account Options.

The reduction in the number of Purchase Units credited to your Variable Investment Option Account Value will equal:

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| | | |
|:---|:---|:---|
| The amount<br> surrendered from the<br> Variable Investment Option<br> + **(plus)**<br> Any surrender charge<br>| &nbsp;&nbsp; ÷<br> **(divided**<br> **by)**<br>| &nbsp;&nbsp; Your Purchase Units<br> next computed after the<br> written request for<br> surrender is received at<br> the Annuity Service Center<br>|

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The surrender value will be reduced by the full quarterly account maintenance charge in the case of a full surrender during a quarter. If your Account Value falls below a certain dollar amount and you do not make a Purchase Payment over a certain period of time, as specified in your Contract, we may close your account and pay the Account Value to you.

**Systematic Withdrawals** 

You may elect to withdraw all or part of your Account Value under a systematic withdrawal method as described in your Contract ("No Charge" systematic withdrawals). There will be no surrender charge for withdrawals using this method, which provides for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments to be made to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment over a stated period of time, but not less than five years; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment of a stated yearly dollar amount or percentage (the amount or percentage may not exceed 20% of your Account Value at the time election is made).

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We may require a minimum withdrawal amount under this method. The portion of your account that has not been withdrawn will continue to receive the investment return of the Variable Investment Options that you selected. You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the funds in which you are invested, including the Multi-Year Option. A market value adjustment may apply to systematic withdrawals unless you choose the Fixed Interest Only payment option. Once begun, a "No Charge" systematic withdrawal election may not be changed, but can be revoked at no charge. If revoked, a "No Charge" systematic withdrawal may not be elected again. Systematic withdrawals that are not "No Charge" systematic withdrawals can be changed, revoked, and/or reinstated. No more than one systematic withdrawal election may be in effect at any one time. We reserve the right to discontinue any or all systematic withdrawals or to change the terms, at any time.

**Distributions Required by Federal Tax Law** 

There will be no surrender charge on RMD's if the withdrawal:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is made payable to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Does not exceed the amount required under federal tax law as determined by the values in your Portfolio Director Contract and VALIC.

You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the

investment options in which you are invested, including the Multi-Year Option. This Contract feature will not be available in any year that an amount has been withdrawn under the "No Charge" systematic withdrawal method. See "*Taxes*" below for more information about required distribution rules*.*

**Cancellation — The "Free Look" Period** 

The Contract Owner of a group Contract (employer) or individual Contract Owner may cancel a Contract by returning it to the Company within 20 days after it is received. (A longer period will be allowed if required under state law.) See *"Appendix C — State Contract Variability."* The free look does not apply to Participant certificates except in a limited number of states. We will allocate Purchase Payments as instructed during the "free look" period. To cancel the Contract, the Contract Owner must send a written request for cancellation and return the Contract to us at the Annuity Service Center before the end of the "Free Look" period. A refund will be made to the Contract Owner within seven days after receipt of the Contract within the required period. Generally, the amount of the refund will be equal to all Purchase Payments received or, if more, the amount required under state law. Additionally, all Contracts issued as an IRA require the full return of Purchase Payments upon a free look. If your Contract was issued either in a state requiring return of Purchase Payments or as an IRA, and you cancel your Contract during the free look period, we return the greater of (1) your Purchase Payments; or (2) the Account Value on the day we receive your request in good order at the Annuity Service Center. The Contract will be void once we issue a refund.

**Loans**

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The Contract offers a tax-free loan provision for tax-qualified contracts, other than IRAs, which gives you access to your money in the Fixed Account Options (subject to a minimum loan amount of $1,000). The availability of loans is subject to federal and state government regulations, as well as your employer's plan provisions and VALIC policy. Generally, one loan per account will be allowed. Under certain, specific circumstances, a maximum of two loans per account may be allowed. VALIC reserves the right to change this limit. We may charge a loan application fee if permitted under state law. Keep in mind that tax laws restrict withdrawals prior to age 59½ and a tax penalty may apply (including on a loan that is not repaid). If you elected an optional Living Benefit, see Appendix B – Living Benefits for limitations on your ability to take loans.

**Interest Charged for a Loan** 

For Contracts not governed by the requirements of ERISA, we charge an effective annual loan interest rate of up to 6%. For

Contracts maintained under a plan subject to the requirements of ERISA, the interest rate we charge on a loan will be based on the Moody's Corporate Bond Yield Average ending two months before the date that the interest rate is determined. The rate is determined each calendar quarter and applies for twelve months for new loans and for outstanding loans whose anniversaries occur in that quarter.

**The Effects of a Loan on Account Value, Payout Payments and the Death Benefit** 

A loan, whether it is repaid or not, has a permanent effect on your Account Value. This effect occurs because the amounts borrowed are removed from your Fixed Account Option(s) and placed in an account outside of your Contract, which earns interest at a fixed rate. If the loan is not fully repaid, upon the beginning of the Payout Period, surrender, or death, then the cash value or the death benefit, as applicable, will be reduced by any foreclosure on the loan or any defaulted amount of the loan.

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**Taxes**

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The Federal income tax treatment of annuity contracts or retirement programs is complex and sometimes uncertain. The discussion below is intended for general informational purposes only and is not intended as tax advice, either general or individualized, nor should be interpreted as providing any predictions or guarantees of a particular tax treatment. This discussion is based upon the Company's understanding of current tax rules and interpretations. Finally, this discussion does not address all Federal income tax consequences of transactions (including consequences of sales to foreign individuals or entities), state or local tax consequences, estate or gift tax consequences, or the impact of foreign tax laws, associated with your Contract.

Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have a retroactive effect as well. As a result, you should consult a tax advisor about the application of tax rules found in the Internal Revenue Code of 1986, as amended ("IRC" or "the Code"), Treasury Regulations, applicable Internal Revenue Service ("IRS") guidance, and any regulatory developments to your individual situation. We do not guarantee the tax status or treatment of your annuity.

Tax rules vary, depending on whether the Contract is offered under your employer-sponsored retirement program or arrangement, an individual retirement account or annuity, or a nonqualified Contract.

The Contracts are used under many types of retirement arrangements, which may include the following:

• IRC section 403(b) annuities for employees of public schools, community colleges, colleges and universities, and other section 501(c)(3) tax-exempt organizations;

• IRC section 401(a), 403(a), and 401(k) qualified plans (including plans for self-employed individuals);

• IRC section 408(b) traditional IRAs;

• IRC section 408A Roth IRAs;

• IRC section 457 deferred compensation plans of governmental and certain tax-exempt employers;

• IRC section 408(k) SEPs and SARSEPs; and

• IRC section 408(p) SIMPLE retirement accounts.

Contracts purchased under these retirement arrangements described above ("Qualified Arrangement") generally are referred to in this prospectus as "Qualified Contracts." Contracts that are not purchased in connection with a Qualified Arrangement generally are referred to in this prospectus as "Non-Qualified Contracts." Note that there are certain types of plans that are referred to as non-qualified, e.g. Non-qualified deferred compensation plans under IRC section 457, that, for purposes of this prospectus, are considered Qualified Arrangements. See below for further details.

**Tax Status of Non-Qualified Contracts** 

**Non-Qualified Contracts** 

Generally, the increases in the value of a Contract are not taxed until a distribution occurs. The taxable portion of the distribution is taxed at ordinary income tax rates. However, this tax deferral is only available if the Contract satisfies certain federal tax rules and requirements, described next. We do not guarantee the tax status or treatment of your Contract. The remainder of the discussion assumes that the Contract will be treated as an annuity contract for federal income tax purposes.

**Late Annuity Start Date** 

If the Contract's annuity start date occurs (or is scheduled to occur) at a time when the Owner has reached an advanced age, it is possible that the Contract would not be treated as an annuity for federal income tax purposes. In that event, the income and gains under the Contract could be currently includable in the Owner's income.

**Diversification** 

For a contract to be treated as a variable annuity for Federal income tax purposes, the underlying investments under the variable annuity must be "adequately diversified". Treasury Regulations provide standards that must be met to comply with the rules. Under the regulations, an investment portfolio will be deemed adequately diversified if (1) no more than 55% of the value of the total assets of the portfolio is represented by any one investment; (2) no more than 70% of the value of the total assets of the portfolio is represented by any two investments; (3) no more than 80% of the value of the total assets of the portfolio is represented by any three investments; and (4) no more than 90% of the value of the total assets of the portfolio is represented by any four investments.

If the variable annuity fails to comply with these diversification standards, you could be required to pay tax currently on the excess of the Contract Value over the contract Purchase Payments. We expect that the manager of the Underlying Funds monitors the Funds to comply with these Treasury Regulations.

**Investor Control** 

Under certain circumstances, you, and not the Company, could be treated as the owner of the assets held in the Separate Account under your Non-Qualified Contract, based on the degree of control you exercise over the underlying investments. If this occurs, you may be currently taxed on income and gains attributable to the assets under the Contract rather than at the time of withdrawal.

There is little guidance in this area, and the determination of whether you possess sufficient incidents of ownership over such assets depends on all of the relevant facts and circumstances.

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However, Revenue Rulings 2003-91 and 2003-92 provide that an annuity owner's ability to choose among general investment strategies either at the time of the initial purchase or thereafter, does not constitute control sufficient to cause the contract holder to be treated as the owner of such assets. The Revenue Rulings provide that if, based on all the facts and circumstances, you do not have direct or indirect control over such assets, then you do not possess sufficient incidents of ownership over the assets supporting the annuity to be deemed the owner of the assets for federal income tax purposes. We do not know what limits may be set by the IRS in any future guidance that it may issue and whether such limits will apply to existing contracts.

While we believe the Contract does not give you investor control over such assets, we reserve the right to modify the Contract as necessary to prevent you from being considered as the owner of the assets of the Contract for purposes of the Code.

**Non-Natural Owners** 

A Trust or Corporation or other Owner that is not a natural person ("Non-Natural Owner") should consult a tax advisor. Generally, the Code does not confer tax-deferred status upon a Non-Qualified Contract owned by a Non-Natural Owner for federal income tax purposes. Instead in such cases, the Non-Natural Owner pays tax each year on the contract's "income on the contract" (as defined in the tax law). However, certain exceptions may apply, such as for contracts held by a trust or other entity as an agent for a natural person or contracts held by certain employer sponsored retirement arrangements. If an exception applies, the entity's general interest deduction under the Code may be limited. Finally, certain non-qualified deferred compensation plans are subject to special tax rules. **Please consult a tax advisor if you are a Non-Natural Owner of a Contract.**

**Tax Treatment of Purchase Payments** 

Purchase Payments paid to a Nonqualified Contract are neither excludible from the gross income of the Contract Owner nor deductible for tax purposes. In general, your cost basis in a Non-Qualified Contract is equal to the Purchase Payments you put into the Contract less any amounts previously received from the Contract that were not includible in income.

**Tax Treatment of Distributions** 

**Partial Withdrawals** 

If you make a partial withdrawal from a Non-Qualified Contract, the IRC generally treats such withdrawals as taxable to the extent your contract value before the withdrawal (determined before the application of any surrender charge) exceeds your cost basis. Partial withdrawals from a Non-Qualified Contract that has Purchase Payments made before August 14, 1982, are

an important exception to this general rule and are treated as first coming from the pre-August 14, 1982 Purchase Payments.

Amounts received under an automatic withdrawal plan are treated as withdrawals and not annuity payments for purposes of calculating taxable income.

**Optional Living Benefits/Other Benefits** 

Generally, we will treat amounts credited to the contract value under the optional Living Benefit guarantees, for income tax purposes, as earnings in the contract. Thus, payments of Living Benefits are treated as taxable withdrawals to the extent there are taxable gains in the contract value. Payments in accordance with such guarantees after the contract value has been reduced to zero may be treated for tax purposes as amounts received as an annuity, if the other requirements for such treatment are satisfied. All payments or withdrawals after cost basis has been reduced to zero, whether or not under such a guarantee, will be treated as taxable amounts. If available and you elect an optional Living Benefit, the application of certain tax rules, including those rules relating to distributions from your contract, are not entirely clear. Such benefits are not intended to adversely affect the tax treatment of distributions or of the contract. However, you should be aware that little guidance is available. **You should consult a tax advisor before electing an optional Living Benefit.** 

**Full Surrenders** 

In the case of a full surrender of a Non-Qualified Contract, the amount received on surrender is taxable to the extent it exceeds the cost basis.

**Collateral Assignments and Gratuitous Transfers** 

If you transfer ownership of your Non-Qualified contract to a person other than your spouse (or former spouse incident to a divorce) you will owe federal income tax on the contract's cash surrender value to the extent it exceeds your cost basis. The transferee's cost basis will be increased to reflect the amount the transferor includes in income.

An assignment or pledge (or agreement to assign or pledge) of any portion of a Non-Qualified Contract will be treated as a withdrawal. If the entire contract value is assigned or pledged, subsequent increases in the contract value are also treated as withdrawals for as long as the assignment or pledge remains in place. The cost basis is increased by the amount included in income with respect to such assignment or pledge.

**Aggregation Rule** 

If you purchase multiple non-qualified annuity contracts from the same insurance company (or its affiliates), within the same calendar year, the IRS generally requires these annuity contracts to be aggregated and treated as a single contract for purposes of

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determining the taxable income associated with any distribution taken from the contracts for tax purposes. For purposes of this rule, contracts received in a Section 1035 exchange will be considered issued in the year of the exchange. (However, the contracts may be treated as issued on the issue date of the contract being exchanged, for certain purposes, including determining whether the contract is an immediate annuity contract.) Aggregation impacts the amount of the distributions described above that is subject to taxation (and potentially subject to the 10% additional tax, if applicable). Owners should seek their own tax advice if you are purchasing more than one annuity from the same insurance company (or its affiliates) in the same calendar year.

**Annuity Payments** 

If you annuitize your Non-Qualified Contract, a portion of each annuity income payment will be considered, for tax purposes, to be a return of a portion of your cost basis. The portion of each annuity income payment that is considered a return of your cost basis will not be taxed. Your annuity income payment will be considered fully taxable after you have received a return of the entire amount of your cost basis.

**Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from a non-qualified annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax if the Owner is under 59½, unless another exception applies. **You should consult your tax advisor regarding these features and benefits prior to purchasing a Contract.** 

Upon death, any remaining amounts in the Contract must be distributed in accordance with the requirements under the Code. For deaths that occur after the Contract's annuity start date, payments under the Annuity Option elected will continue to be paid at least as rapidly as under the method of distribution in effect at such Owner's death. For deaths that occur prior to the Contract's annuity start date, the entire interest in the Contract can be paid in one of the following manner:

(1) Lump sum payment of the death benefit.

(2) Payment of the entire death benefit within five years of the date of any Owner's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(3) Payment of the death benefit over the lifetime of the beneficiary or over a period not extending beyond the life expectancy of the beneficiary. Under this option, distributions must begin within one year of the date of any Owner's death. Note - This option is not available for a beneficiary that is a non-natural person.

(4) Spousal Option Only. The spousal beneficiary can elect to treat the annuity contract as their own.

Special rules apply if the Owner is a non-natural person, where the annuitant is generally treated as the Owner.

**10% Additional Tax** 

The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC);

• when paid as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated Beneficiary;

• under an immediate annuity contract; or

• when attributable to Purchase Payments made prior to August 14, 1982.

Other exceptions may available depending on contract type and your circumstances. **Please consult your tax advisor or** www.irs.gov **for more information.** 

**Net Investment Income Tax** 

There is a 3.8% tax on net investment income for Owners with Modified Adjusted Gross Income ("MAGI") that exceeds certain thresholds based on the type of filer. Further information may be found on www.irs.gov. For this purpose, net investment income generally will include taxable distributions from a Non-Qualified Contract. It is also possible the tax could apply to other taxable amounts relating to your Non-Qualified Contract. **Please consult your tax advisor**. This tax generally does not apply to Qualified Contracts; however, taxable distributions from such contracts may be considered in determining the MAGI threshold.

**Tax Treatment of Exchanges** 

The Non-Qualified Contract may be issued in exchange for all or part of another annuity contract that you own. In addition, the Contract Owner may be permitted to exchange the Contract for a new annuity contract prior to the commencement of annuity income payments. A full or partial exchange of one annuity contract for another is a tax-free transaction under IRC section 1035, provided that the requirements of that section are satisfied. Please note that the exchange may be tax reportable. If

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you exchange part of an existing annuity contract for another annuity contract, and within 180 days of the exchange you receive a distribution other than certain annuity payments, the exchange may not be tax free. **You should consult a tax advisor when exchanging part or all of an annuity contract.** 

**Qualified Contracts** 

Qualified Contracts taxation varies with the type of plan and terms and conditions of each specific plan. You will get no additional tax advantage from this Contract if you are investing through a Qualified Contract beyond the treatment provided to alternative qualifying arrangements such as trusts or custodial accounts. However, in both cases the Contract offers features and benefits that other investments may not offer. You and your financial representative should carefully consider whether the features and benefits, including the investment options, lifetime annuity income options, protection through Living Benefits, death benefits and other benefits provided under an annuity contract issued in connection with a Qualified Contract are suitable for your needs and objectives and are appropriate in light of the expense.

The terms of the plan may limit the rights otherwise available under the Contracts. The Code and, if applicable, your Contract or Qualified Arrangement, may have limitations and restrictions such as: the amount that can be contributed; the form, manner and timing of distributions; vesting and non-forfeitability of interests; nondiscrimination in eligibility and participation; and the tax treatment of distributions, withdrawals and surrenders. Some of these limitations are adjusted annually. **Please see www.IRS.gov or consult your tax advisor.** 

The following are general summary descriptions of the types of Qualified Arrangements with which the Qualified Contracts may be used. Not all plan types will be available under your Contract. Descriptions of such arrangements are not exhaustive and are for general information purposes only. The tax rules regarding Qualified Arrangements are very complex and will have differing applications depending on individual facts and circumstances. **Each prospective purchaser should obtain competent tax advice prior to purchasing a contract issued under a qualified plan.** 

***Plans of Self-Employed Individuals: "H.R. 10 Plans"*** 

***Pension and Profit Sharing Plans 401(a)/401(k)*** 

***Tax-Sheltered Annuity (403(b))*** 

In general, certain Contracts originally established by a IRS Revenue Ruling 90-24 transfer prior to September 25, 2007 are exempt (or grandfathered) from some of the requirements of the regulations; provided that no salary reduction or other contributions have ever been made to the Contract, and that no additional transfers are made to the Contract on or after September 24, 2007.

***SIMPLE IRA*** 

Employers with 100 or fewer employees can maintain a SIMPLE IRA plan. Employer and employee contributions under a SIMPLE IRA Plan are made to a separate SIMPLE IRA for each employee. Employer contributions must be in the form of matching contribution or a nonelective contribution of a percentage of compensation as specified in the Code. The employee is always 100% vested in (or, has ownership of) all SIMPLE IRA money.

***Traditional Individual Retirement Annuities (IRA), SEP IRA, or Roth IRA*** 

The IRA Disclosure Statement, ROTH IRA Disclosure Statement, or Traditional, SEP, and Roth Individual Retirement Annuity (IRA) Combined Disclosure Statement which was received at the time of original issue of your IRA, SEP IRA or Roth IRA contains information about eligibility, contribution limits, distribution restrictions and other tax information. For further information about contributions and distributions from your IRA, please see Publications 590-A and 590-B on the IRS website at www.irs.gov.

***Traditional Individual Retirement Annuities*** 

Section 408(b) of the Code permits eligible individuals to contribute to an individual retirement program known as a traditional IRA. Under applicable limitations, certain amounts (adjusted annually) may be contributed to an IRA. Such contributions may be deductible, depending on your modified gross income.

***Roth IRAs*** 

Section 408A of the Code permits an individual to contribute to an individual retirement account called a Roth IRA. Contributions to a Roth IRA are not deductible, but distributions are tax-free if certain requirements are satisfied. Unlike traditional IRAs, to which everyone can contribute even if they cannot deduct the full contribution, Roth IRAs have income limitations on who can make regular cash contributions.

***Simplified Employee Pension Plan ("SEP") IRA*** 

Sole proprietors, partnerships, and corporations, including S corporations, can set up SEPs. Employer contributions under a SEP are made to a separate IRAs established for each participating employee, and generally must be made at a rate representing a uniform percent of participating employees' compensation. Through 1996, employees of certain small employers (other than tax-exempt organizations) were permitted to establish plans allowing employees to contribute pretax, on a salary reduction basis, to the SEP (known as SARSEPs).

***Deferred Compensation Plans — Section 457*** 

A unit of a state or local government may establish a deferred compensation program for individuals who perform services for the government unit if permitted by applicable state (and/or local) laws. In addition, a non-governmental tax-exempt employer may establish a deferred compensation program for individuals who: (i) perform services for the employer, and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(ii) belong to either a select group of management or highly compensated employees or, if provided under the deferred compensation arrangement, independent contractors.

The employer uses deferred amounts to purchase the Contracts offered by this prospectus. For plans maintained by a unit of a state or local government, the Contract is generally held for the exclusive benefit of plan Participants. For plans of non-governmental tax-exempt employers, the employee has no present ownership rights in the Contract and is entitled to payment only in accordance with the eligible deferred compensation plan (an "EDCP") provisions and, where applicable, any trust under which the Contract may be held. Non-governmental 457 plan assets must remain assets of the employer and are subject to claims by the creditors of the employer.

Under these plans, contributions made for the benefit of the employees will not be includible in the employees' gross income until distributed from, or if a non-governmental tax-exempt employer, otherwise made available to the recipient.

**Tax Treatment of Purchase Payments** 

For employer-sponsored arrangements, Purchase Payments under Qualified Contracts can be made as contributions by employers or as pre-tax or after-tax contributions by employees, depending on the type of retirement program. For IRAs, Purchase Payments also can be made as a pre-tax or after-tax contribution. If you make contributions on a pre-tax basis, then you have no cost basis in your Contract. However, you normally will have cost basis in a Roth IRA, a designated Roth account in a 403(b), 401(k), or governmental 457(b) plan, and you may have cost basis in a non-deductible traditional IRA or in another Qualified Contract.

Limitations and restrictions may apply to Purchase Payments. **Please refer to www.IRS.gov for further information, as these limitations and restrictions may be based on several factors.** 

**Various penalty and excise taxes may apply to contributions made in violation of applicable contribution limits. You should consult a qualified tax advisor associated with any questions related to the contribution to or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

**Tax Treatment of Distributions** 

Distributions from Qualified Contracts, other than IRAs and Roth IRAs, are often limited by the IRC and by the terms of the employer-sponsored retirement plan. In some cases, distributions are not available unless there has been a distributable event as defined by the terms of the plan. All distributions are tax at ordinary income tax rates. Various penalty taxes may apply to distributions made in violation of applicable requirements. Furthermore, certain contractual withdrawal penalties and restrictions may apply to surrenders from Qualified Contracts. **You should consult a qualified tax** 

**advisor associated with any questions related to the distribution or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

***Non-Roth Qualified Contracts****.* Distributions from Qualified Contracts other than Roth IRAs and designated Roth accounts (described below) are taxable, except to the extent allocable to after-tax contributions or non-deductible traditional IRA contributions.

***Roth IRAs and Designated Roth Accounts.*** "Qualified" distributions from Roth IRAs and Designated Roth Accounts upon attainment of age 59½, upon death or disability, or for qualifying first-time homebuyer expenses (Roth IRAs only) are tax-free as long as five or more years have passed since the first contribution to the taxpayer's first Roth IRA or Designated Roth Account. Qualified distributions may be subject to state income tax in some states. Special tax rules will apply to distributions that are not qualified and such distributions are generally subject to the same 10% additional tax on amounts included in income as for other IRAs. Distributions of rollover or conversion contributions may be subject to a 10% additional tax if the distribution of those contributions is made within five years of the rollover or conversion.

***Designated Roth and Roth IRA Conversions.*** All persons may be eligible to convert a distribution from an employer-sponsored plan or from a traditional IRA into a Roth IRA. Conversions from qualified contracts into Roth IRAs normally require taxes to be paid in the year of the conversion on any previously untaxed amounts included in the amount converted. The taxable value of such a conversion may consider the value of certain benefits under the Contract.

***457 Plans.*** Amounts received from an EDCP are includible in gross income for the taxable year in which they are paid or, if a non-governmental tax-exempt employer, otherwise made available to the recipient.

***Annuitization****.* If you annuitize your Qualified Contract, special tax rules apply to determine the taxable amount of your annuity income payment depending on your Qualified Arrangement. **Please consult your tax advisor.** 

***10% Additional Tax.* You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any.** The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner of a Qualified Contract reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC); and

• as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint expectancies) of you and your designated Beneficiary.

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Other exceptions may be applicable under certain circumstances. In addition, you may be able to repay certain distributions if certain requirements are satisfied. Distributions from a SIMPLE IRA within two years after first participating in the Plan may be subject to a 25% additional tax, rather than a 10% additional tax.

**Direct and Indirect Rollovers** 

A rollover distribution, including eligible rollover distributions as defined below, from an IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan may generally be rolled over into another IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan, if permitted by the plan.

An eligible rollover distribution is the taxable portion of any amount received by a covered employee from a retirement plan qualified under Sections 401(a) or 403(a) or, if from a plan of a governmental employer, under Section 457(b) of the Code, or from a tax-sheltered annuity qualified under Section 403(b) of the Code. Generally, certain types of distributions are not considered eligible rollover distributions, such as distributions received on account of:

a)

a required minimum distribution,

b)

a hardship withdrawal, or

c)

a series of substantially equal payments (at least annually) made over your life expectancy or the joint life expectancies of you and your designated Beneficiary, or a distribution made for a specified period of 10 years or more.

A rollover distribution (including an eligible rollover distribution) may be transferred as a direct or indirect rollover. In a direct rollover, the funds are directly transferred from one Qualified Arrangement to another. In an indirect rollover, the individual receives a distribution from the Qualified Arrangement and reinvests it in another Qualified Arrangement within 60 days of the distribution. For indirect rollovers, you must include in your income for the year the taxable amount of any portion of the distribution that you do not roll over. An indirect rollover of an eligible rollover distribution will be subject to a mandatory 20% withholding tax (described below).

Individuals are only permitted to make one indirect rollover from an IRA to another IRA in any one-year period. It is important to note that the one rollover per year limitation does not apply to amounts taken as an eligible rollover distribution from an employer sponsored retirement arrangement or from amounts transferred directly between IRAs in a trustee-to-trustee transfer.

Funds may generally be rolled over tax-free from a SIMPLE IRA to another IRA. However, during the two-year period beginning on the date you first participate in any SIMPLE IRA plan of your employer, SIMPLE IRA funds may only be rolled to another SIMPLE IRA.

**You should always consult your tax advisor before you move or attempt to move any funds.** 

**Tax Treatment of Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from an annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax described above if the Owner is under 59½, unless another exception applies. The IRS may consider these benefits "incidental death benefits" or "life insurance." **You should consult your tax advisor regarding these features and benefits prior to purchasing a Qualified Contract.** See below for required distributions after the death of the owner.

**Required Minimum Distributions** 

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your Qualified Arrangement each year after your required beginning date. The RMD rules do not apply to Roth IRAs or designated Roth accounts when the Owner is alive.

Failure to satisfy the minimum distribution requirements may result in an excise tax. A 25% excise tax may be assessed on any RMD that is required but not taken timely. However, if the late RMD is taken within a two-year period, the penalty may be reduced to 10% if certain conditions are satisfied. **You should consult your tax advisor for more information.** 

**Required Beginning Date** 

Generally, the IRC requires that you begin taking annual distributions from Qualified Contracts by December 31 of the calendar year in which you attain the "applicable age":

• Age 75 if you were born January 1, 1960 or later.

• Age 73 if you were born on or after January 1, 1951, and before January 1, 1960.

• Age 72 if you were born on or after July 1, 1949, and before January 1, 1951.

• Age 70 ½ if you were born before July 1, 1949.

For employer sponsored retirement plans, you must begin distributions on the later of (1) reaching the applicable age, or (2) the calendar year in which you sever employment from the employer sponsoring the plan.

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You may choose to delay your first distribution until April 1 of the calendar year following in which you reach the applicable age or sever employment, as applicable. However, if you choose to delay your first distribution, you will be required to withdraw your second RMD on or before December 31 in that same year. For each year thereafter, you must withdraw your RMD by December 31.

For 403(b) contracts, amounts accumulated under a Contract on December 31, 1986, may be subject to special distribution rules.

**Combining Distributions from Multiple Qualified Contracts** 

If you own more than one IRA, you may be permitted to take your RMD in any combination from your IRAs. A similar rule applies if you own more than one 403(b) account, unless the Plan, Contract, or account otherwise provides. However, you cannot satisfy this distribution requirement for your IRA contract by taking a distribution from a 403(b) account, and you cannot satisfy the requirement for your 403(b) account by taking a distribution from an IRA.

**Automatic Withdrawal Option** 

If available, you may elect to have the RMD amount for your Contract calculated and withdrawn each year under the automatic withdrawal option. You may select monthly, quarterly, semiannual, or annual withdrawals for this purpose. This service is provided as a courtesy, and we do not guarantee the accuracy of our calculations.

**Impact of Optional Benefits** 

The annuity contract value used to determine RMDs includes the actuarial present value of other benefits under the Qualified Contract, such as enhanced death benefits and/or Living Benefits. However, please note that not all Contracts have enhanced death benefits and/or Living Benefits. As a result, if you request a minimum distribution calculation, or if one is otherwise required to be provided, in those specific circumstances where this requirement applies, the calculation may be based upon a value that is greater than your contract value, resulting in a larger RMD. This does not apply to RMDs made under an irrevocable annuity income option.

If you have purchased the IncomeLOCK or IncomeLOCK Plus benefit option, the calculation of the RMD may include the value of the IncomeLOCK or IncomeLOCK Plus and may increase the amount of the RMD. IncomeLock and IncomeLock Plus benefit options are no longer available for purchase.

**We recommend you consult your tax advisor concerning your required minimum distribution.** 

**Required After Death Distributions** 

Upon death, any remaining amounts in the Qualified Contract must be distributed in accordance with the requirements under the IRC. The timing of these distributions will depend on whether the death occurs before the owner was required to take RMDs, the type of Beneficiary, and the beneficiary's relationship to the deceased owner. The information provided below applies to Owners who die after 2019 (after 2021 for certain governmental and collectively bargained retirement plans). **For Owners' deaths prior to such dates, individuals should consult a tax advisor regarding the applicable after-death distribution requirements**.

Eligible designated Beneficiaries ("EDB") are generally a natural person designated as beneficiary ("designated beneficiaries") who are also:

• the surviving spouse of the owner;

• a minor child of the owner;

• a qualifying disabled or chronically ill beneficiary; or

• an individual who is not more than ten years younger than the owner.

If the Beneficiary is an EDB, , the entire amount in the Contract generally must be paid to the EDB:

• if the owner had not reached their required beginning date for RMDs

• within 10 years after the owner's death, or

• by December 31st of the year following the year of death and be paid over the lifetime or single life expectancy of the EDB; or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

Exceptions to this rule may apply in the case of an EDB who is also the owner's spouse or minor child.

If a Beneficiary is a designated beneficiary, the entire amount in the Contract must be distributed either:

• if the owner had not reached their required beginning date for RMDs, within 10 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

If the Beneficiary is not a designated beneficiary or an EDB, the Beneficiary must receive the entire amount in the Contract:

• if the owner had not reached their required beginning date for RMDs, within 5 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner.

Additional rules, requirements, and exceptions may apply. **Please consult a tax advisor.** 

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**Gifts, Pledges, Assignments of and/or Loans from a Qualified Contract** 

Qualified Contracts are prohibited from being transferred, assigned or pledged as security for a loan. This generally does not apply to loans under an employer-sponsored retirement plan (including loans from the annuity contract) that satisfy certain requirements, provided that the plan is not an unfunded deferred compensation plan. Another exception to this rule includes an assignment pursuant to a domestic relations order meeting the requirements of the plan or arrangement under which the contract is issued (for many plans, a Qualified Domestic Relations Order, or QDRO), or, in the case of an IRA, pursuant to a decree of divorce or separation maintenance or a written instrument incident to such decree.

For certain qualified arrangements, a default of a loan may be considered a taxable distribution and may be subject to a 10% additional tax if the distribution occurred prior to your attainment of age 59.5 unless an exception applies. Please see the terms of your loan for specifics regarding your loan and the tax impact of defaults.

**You should consult a tax advisor as to the availability of these and any other exceptions.** 

**Tax Withholding and Reporting** 

Taxable amounts distributed from annuity contracts are subject to federal and state income tax reporting and withholding. In general, we will withhold federal income tax from the taxable portion of such distribution based on the type of distribution and, in certain cases, the amount of your distribution. An election out of federal withholding must be made in accordance with the IRS guidance as directed on forms that we provide. If an election out of withholding or election of another amount is not made, withholding is imposed (1) for periodic payments, at the rate that would be imposed if the payments were wages, and the payee was single with no adjustments, or (2) for other distributions, at the rate of 10%. If you are a U.S. person (which includes a resident alien), and your address of record is a non-U.S. address, we are required to withhold income tax unless payments are directed to your U.S. residential address. We are also required to withhold if you do not provide a valid TIN.

State income tax withholding rules vary, and we will withhold based on the rules of your state of residence. Your state may require any election associated with withholding to be undertaken on the state's prescribed form.

Special tax rules apply to withholding for non-United States persons, and we generally withhold income tax for such non-United States persons at a rate of 30% of the taxable amount. A different withholding rate may be applicable to a non-United States person based on the terms of an existing income tax treaty between the United States and the non-United States person's country. To qualify for any reduced withholding, the non-United States person must provide applicable certifications under Form W-8 BEN-E, Form W-8IMY, or other applicable form.

Any Form W-8, including the Form W-8 BEN-E and Form W-8IMY, is only effective for three years from date of signature unless a change in circumstances makes any information on the form incorrect. You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any. Note, any payments made to a foreign entity, where such entity fails to provide the applicable certifications, may result in a 30% withholding on certain gross payments, which could include distributions from annuity contracts.

Any income tax withheld is a credit against your income tax liability. Regardless of the amount withheld by us, you are liable for payment of federal and state income tax on the taxable portion of annuity distributions. You should consult with your tax advisor regarding the payment of the correct amount of these income taxes and potential liability if you fail to pay such taxes.

**20% Federal Income Tax Withholding on Eligible Rollover Distributions** 

For certain qualified employer sponsored plans, we are required to withhold 20% of the taxable portion of your withdrawal that constitutes an eligible rollover distribution for Federal income taxes. This requirement is mandatory and cannot be waived by the owner. You may avoid withholding if you do a direct rollover between Qualified Arrangements.

**Generation Skipping Transfer Tax Withholding** 

Under certain circumstances, the IRC may impose generation skipping transfer tax when all or a part of an annuity contract is transferred (including a death benefit paid) to an individual two or more generations younger than the owner. The Company may be required to undertake withholding associated with such a transaction. **Contract Owners should consult a tax advisor with any questions.** 

***Advisory Fees*** 

**Non-Qualified Contracts** 

The IRS has issued a private letter ruling (PLR) to the Company recognizing the ability, in specific circumstances, to not treat the payment of investment advisory fees to an investment advisor from Non-Qualified Contracts as a taxable withdrawal from the Contracts. ***Only the Company can rely on the PLR from the IRS.*** 

Under the terms of the Company's PLR, the Advisory Agreement with the Investment Advisor must provide that the Investment Advisor will help you select investment options for the Contract. Advisory Program Fees for such services must not exceed an annual rate of 1.50% of the Contract's cash value for the period to which the Advisory Program Fees relate. The Contract owner is solely liable for the fees. The Advisory Program Fees may not constitute compensation to the Advisor for services related to any assets other than the Contract. The Advisory Program Fees

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are an expense of the Contract and not a distribution to you as the owner. Any payment of advisory fees inconsistent which such requirements may be treated as withdrawals for tax purposes by the Company and/or by the IRS. Notwithstanding the tax treatment of Advisory Program Fees by the Company, federal and/or state taxing authorities could determine that such fees should be treated as taxable withdrawals. In such circumstances any fees prior to your attainment of age 59½ could also result in a 10% additional tax.

The Company only administers the terms of the PLR for the GPS and GPA Advisory Programs, which are offered through VFA, our affiliate. Accordingly, the description above only applies to such programs. This means if you participate in a third-party Advisory Program and VFA is not your Investment Advisor, partial withdrawals, including Investment Advisor fees, taken from a Non-Qualified Contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution.

**Qualified Contracts** 

The IRS has issued multiple private letter rulings recognizing the ability, in specific circumstances, to treat the payment of investment advisory fees to an investment advisor out of

Qualified contracts as non-taxable withdrawals from the contracts. The restrictions for Qualified Contracts are similar to those outlined for Non-Qualified.

***Civil Unions and Domestic Partnerships*** 

Parties to a state civil union or domestic partnership are not treated as married under federal law. Accordingly, certain transactions (such as a change of ownership or spousal continuation) may be taxable to those persons. Contract Owners should consult a tax advisor with any questions.

***Our Taxes*** 

The Company is taxed as a life insurance company under the Code. For federal income tax purposes, the Separate Account is not a separate entity from the Company and its operations form a part of the Company. We are entitled to certain tax benefits related to the investment of company assets, including assets of the Separate Account, which may include foreign tax credits and the corporate dividends received deduction. These potential benefits are not passed back to you, since we are the owner of the assets from which tax benefits may be de

**Legal Proceedings**

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There are no material pending legal proceedings affecting the Separate Account, the Company, or the principal underwriter. Various federal, state or other regulatory agencies may from time to time review, examine or inquire into the operations, practices and procedures of the Company, such as through financial examinations, subpoenas, investigations, market conduct exams or other regulatory inquiries. Based on the current status of pending regulatory examinations, investigations and inquiries involving the Company, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to

perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

Various lawsuits against the Company have arisen in the ordinary course of business. As of the date of this prospectus, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

**Financial Statements**

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The financial statements of the Company and the Separate Account and American Home (if applicable to you) are included in the SAI. Instructions for obtaining the SAI can be

found on the back cover of this prospectus. We encourage both existing and prospective contract owners to read and understand the financial statements.

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**Appendix A — Investment Options Available Under the Contract**

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**If your Contract is through certain employer-sponsored qualified retirement plans, the availability of certain Portfolio Companies can vary based on your employer. Refer to your employer's retirement program documents for a list of the employer-selected Portfolio Companies available in your Contract and any limitations on the number of Portfolio Companies you may choose. All Portfolio Companies may not be available for all plans or Contracts.** 

The following is a list of Portfolio Companies available under the Contract. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at www.corebridgefinancial.com/rs/prospectus-and-reports/annuities. You can also request this information at no cost by calling 1-800-448-2542. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies. See "Investment Restrictions for Optional Living Benefits" in this appendix.

The current expenses and performance information below reflect fees and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company's past performance is not necessarily an indication of future performance.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; American Beacon Man Large Cap<br> Growth Fund<sup>3, 5</sup> – Investor Class<br> *Adviser: American Beacon Advisors, Inc.*<br> *Sub-Adviser: Numeric Investors LLC*<br>| 1.12% |  | 1.12% | 15.86% | 11.19% | 15.61%\* |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Capital Appreciation Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Columbia Management Investment Advisers, LLC*<br>| 0.73% |  | 0.73% | 14.19% | 14.69% | 15.33% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Dividend Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock Investment Management, LLC and* <br> *ClearBridge Investments, LLC*<br>| 0.67% |  | 0.67% | 18.21% | 11.55% | 10.40% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock*<br>| 0.61% |  | 0.61% | 14.57% | 11.57% | 15.67% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Large Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM and T. Rowe Price Company*<br>| 0.66% |  | 0.66% | 9.81% | 10.02% | 14.27% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Nasdaq-100<sup>®</sup> Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.42% |  | 0.42% | 20.42% | 14.73% | 19.06% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Stock Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.23% |  | 0.23% | 17.55% | 14.08% | 14.46% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Core Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Goldman Sachs*<br>| 0.64% |  | 0.64% | 14.77% | 12.45% | 13.89% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs Asset Management, L.P. and* <br> *Wellington Management Company LLP*<br>| 0.64% |  | 0.64% | 17.66% | 10.29% | 14.83% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.65% |  | 0.65% | 17.41% | 13.25% | 10.31% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; U.S. Socially Responsible Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 14.73% | 11.77% | 12.91% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Vanguard Windsor II Fund<sup>3</sup> – Investor Shares<br> *Advisers: Aristotle Capital Management, LLC; Hotchkis and Wiley* <br> *Capital Management, LLC; Lazard Asset Management LLC; and* <br> *Sanders Capital, LLC*<br>| 0.33% | 0.25% | 0.58% | 18.56% | 12.89% | 12.61% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Appreciation Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel Investments, LLC*<br>| 1.15% |  | 1.15% | 11.11% | 7.57% | 7.95% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Strategic Growth Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Janus Henderson Investors US LLC and Voya* <br> *Investment Management Co. LLC*<br>| 0.74% |  | 0.74% | 11.34% | 7.88% | 13.56% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Value Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Boston Partners Global Investors, Inc. d/b/a* <br> *Boston Partners and Wellington Management*<br>| 0.83% |  | 0.83% | 7.23% | 10.19% | 9.29% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Index Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 6.95% | 8.68% | 10.34% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel*<br>| 1.01% |  | 1.01% | 14.15% | 9.36% | 9.51% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: American Century Investment Management, Inc.* <br> *and T. Rowe Price Associates, Inc.*<br>| 0.88% |  | 0.88% | 9.20% | -2.35% | 11.01% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.38% |  | 0.38% | 12.23% | 5.69% | 9.27% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Invesco Advisers, Inc.*<br>| 0.93% |  | 0.93% | -3.03% | 6.57% | 8.39% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.84% |  | 0.84% | 12.16% | 9.55% | 8.54% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; Global Strategy Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Franklin Advisers, Inc. and Brandywine Global* <br> *Investment Management LLC*<br>| 0.63% |  | 0.63% | 20.73% | 7.18% | 5.85% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; International Socially Responsible Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.55% |  | 0.55% | 27.32% | 7.80% | 9.10% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; Emerging Economies Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 1.02% |  | 1.02% | 30.11% | 4.19% | 8.04% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Equities Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.39% |  | 0.39% | 30.81% | 8.47% | 7.82% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Morgan Stanley Investment Management Co.*<br>| 0.82% |  | 0.82% | 16.07% | 1.86% | 8.33% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Opportunities Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Invesco Advisers, Inc. and Wellington* <br> *Management*<br>| 1.01% |  | 1.01% | 27.46% | 2.74% | 6.76% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs and Columbia Management* <br> *Investment Advisers, LLC*<br>| 0.81% |  | 0.81% | 39.97% | 10.60% | 8.10% |

---

------

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Specialty**<br> &nbsp;&nbsp; Global Real Estate Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Duff & Phelps Investment Management Co. and* <br> *MFS*<br>| 0.90% |  | 0.90% | 7.70% | 1.77% | 3.39% |
| **Specialty**<br> &nbsp;&nbsp; Invesco Balanced-Risk Commodity Strategy Fund<sup>3, 5</sup> – Class R5<br> *Adviser: Invesco Advisers, Inc.*<br>| 1.05% |  | 1.05% | 18.94% | 9.41% | 6.23% |
| **Specialty**<br> &nbsp;&nbsp; Science & Technology Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock, Voya*<br>| 0.91% |  | 0.91% | 22.57% | 11.59% | 18.92% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 16.94% | 8.73% | 9.38% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Asset Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.65% |  | 0.65% | 11.50% | 8.17% | 7.75% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Conservative Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.59% |  | 0.59% | 11.79% | 4.34% | 5.85% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Dynamic Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: AllianceBernstein L.P.*<br>| 0.83% |  | 0.83% | 11.33% | 5.60% | 7.49% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Moderate Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 14.40% | 7.01% | 8.10% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2015 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.74% |  | 0.74% | 11.83% | 5.05% | 6.89% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2020 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.76% |  | 0.76% | 12.23% | 5.34% | 7.42% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2025 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.78% |  | 0.78% | 12.71% | 5.76% | 8.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2030 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.80% |  | 0.80% | 14.10% | 6.51% | 8.77% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2035 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.83% |  | 0.83% | 15.84% | 7.42% | 9.50% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2040 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.84% |  | 0.84% | 17.16% | 8.17% | 10.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2045 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.85% |  | 0.85% | 18.23% | 8.77% | 10.55% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2050 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.87% |  | 0.87% | 18.53% | 8.95% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2055 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.88% |  | 0.88% | 18.70% | 8.97% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2060 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.89% |  | 0.89% | 18.63% | 8.96% | 10.62% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Conservative Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: The Vanguard Group, Inc.*<br>| 0.10% | 0.25% | 0.35% | 12.86% | 4.24% | 6.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Growth Fund<sup>3, 4</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 19.63% | 8.76% | 10.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Moderate Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 16.24% | 6.49% | 8.09% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard Wellington Fund<sup>3</sup> – Investor Shares<br> *Adviser: Wellington Management*<br>| 0.25% | 0.25% | 0.50% | 16.48% | 9.28% | 10.02% |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Fixed Income**<br> &nbsp;&nbsp; Core Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: PineBridge Investments LLC and JPMIM*<br>| 0.48% |  | 0.48% | 7.64% | -0.16% | 2.36% |
| **Fixed Income**<br> &nbsp;&nbsp; Goldman Sachs VIT Government Money Market Fund<sup>5</sup> – <br> Institutional Shares<br> *Adviser: Goldman Sachs*<br>| 0.18% |  | 0.18% | 4.20% | 3.18% | 2.11% |
| **Fixed Income**<br> &nbsp;&nbsp; Government Securities Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.58% |  | 0.58% | 6.66% | -0.49% | 1.41% |
| **Fixed Income**<br> &nbsp;&nbsp; High Yield Bond Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.68% |  | 0.68% | 9.37% | 4.20% | 5.92% |
| **Fixed Income**<br> &nbsp;&nbsp; Inflation Protected Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.54% |  | 0.54% | 6.00% | 1.06% | 2.86% |
| **Fixed Income**<br> &nbsp;&nbsp; International Government Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: PineBridge*<br>| 0.80% |  | 0.80% | 9.15% | -2.01% | 1.64% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Investment-Grade Fund<sup>3</sup> – Investor Shares<br> *Advisers: Wellington Management and Vanguard*<br>| 0.21% |  | 0.21% | 7.18% | -3.74% | 2.68% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Treasury Fund<sup>3</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.20% |  | 0.20% | 5.54% | -7.30% | -0.04% |

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\* Average Annual Total Returns is since inception of the Portfolio Company.

<sup>1</sup> The following adviser/sub-adviser abbreviations are used in this table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allspring – Allspring Global Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ariel – Ariel Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BlackRock – BlackRock Investment Management, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Goldman Sachs – Goldman Sachs Asset Management, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco – Invesco Advisers, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• JPMIM – J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MFS – Massachusetts Financial Services Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MSIM – Morgan Stanley Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PineBridge – PineBridge Investments LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price – T. Rowe Price Associates, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• VALIC – The Variable Annuity Life Insurance Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard – The Vanguard Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Voya – Voya Investment Management Co. LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wellington Management – Wellington Management Company LLP

<sup>2</sup> A VALIC Company I Fund.

<sup>3</sup> A Public Fund. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans ("Public Funds") will not be available within your Contract.

<sup>4</sup> The Vanguard LifeStrategy Funds' board of trustees allocates each Fund's assets among the underlying funds based on the Fund's investment objective and policies. The board may change these allocations from time to time without shareholder approval. The investment adviser to the underlying funds is Vanguard.

<sup>5</sup> This Portfolio Company is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Portfolio Company prospectus for additional information.

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<sup>6</sup> A Platform Charge may only be increased to the extent that the Base Contract Expense plus the Platform Charge does not exceed 0.85%.

**Fixed Account Options**

The following is a list of Fixed Account Options currently available under the Contract. We may change the features of the Fixed Account Options listed below, offer new Fixed Account Options, and terminate existing Fixed Account Options. We will provide you with written notice before doing so.

**Note: If amounts are withdrawn from a Fixed Account Option before the end of its term, we may apply a Contract Adjustment. This may result in a significant reduction in your Contract value.** 

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| | | |
|:---|:---|:---|
| **Name** | **Term** | **Minimum Guaranteed Interest Rate** |
| Fixed Account Plus | 1-Year | 1% |
| Short-Term Fixed | 1-Year | 1% |
| Multi-Year Enhanced Option (MVA) | 3-Year, 5-Year, 7-Year, 10-Year | 1% |
| DCA Fixed Account | 6-Month, 12-Month | 1% |

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**Investment Restrictions For Optional Living Benefits** 

If you elected an optional Living Benefit, as long as your Living Benefit remains in effect, we require that you allocate your investments in accordance with the investment restrictions applicable to that benefit, as described below. Please see "Appendix B – Living Benefits" for additional information about investment restrictions.

For all optional Living Benefits, investments are not permitted in the following:

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| |
|:---|
| Multi-Year Fixed Option – 3 years |
| Multi-Year Fixed Option – 5 years |
| Multi-Year Fixed Option – 7 years |
| Multi-Year Fixed Option – 10 years |

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**IncomeLOCK +6 and IncomeLOCK +8** 

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

*If you elected IncomeLOCK +6 (Custom Allocation) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Capi Core Fund Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) or IncomeLOCK +8 on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

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*If you elected IncomeLOCK +6 (Custom Allocation) on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund\*\*\*<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account. <br>\*\*\* For Living Benefits with an Endorsement Date prior to November 1, 2011, the Emerging Economies Fund (formerly Global Equities Fund) is in Group B. For Living Benefits with an Endorsement Date on or after November 1, 2011, the Emerging Economies Fund is in Group C.

*If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to December 26, 2012, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate a certain percentage of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit before May 1, 2012, this percentage is 15%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit after May 1, 2012, this percentage is 20%.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

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\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\*If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

**IncomeLOCK** 

*If you elected IncomeLOCK on or after July 6, 2010, your Contract is subject to the following investment restrictions while your benefit remains in effect.* 

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| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 20% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

---

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

If you elected IncomeLOCK prior to July 6, 2010, your Contract is not subject to investment restrictions while your benefit remains in effect.

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0-1

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**Appendix B — Living Benefits**

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This Appendix provides information on IncomeLOCK +6, IncomeLOCK +8 (together, "IncomeLOCK Plus") and IncomeLOCK all of which are no longer available for purchase. Effective July 2, 2012, IncomeLOCK is no longer available for purchase. Effective January 1, 2017, IncomeLOCK +6 is no longer available for purchase. Effective February 25, 2013, IncomeLOCK +8 was no longer available for purchase. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

An optional Living Benefit is designed to help you create a guaranteed income stream for as long as you live, or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if the entire Account Value has been reduced to zero, provided withdrawals taken are within the parameters of the applicable feature. A Living Benefit may offer protection in the event your Account Value declines due to unfavorable investment performance, certain withdrawal activity, if you live longer than expected or any combination of these factors. If you decide not to take withdrawals under these features, or you surrender your Contract, you will not receive the guarantees of the Living Benefit. You could pay for this feature and not need to use it. Likewise, depending on your Contract's market performance, you may never need to rely on the protections provided by a Living Benefit. If you elected IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect.

**Table of Contents** 

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| | |
|:---|:---|
| **Living Benefit Defined Terms** | **B-1** |
| **IncomeLOCK Plus** | **B-2** |
| Fee Table | B-2 |
| IncomeLOCK Plus Fee Formula | B-2 |
| IncomeLOCK Plus Features | B-3 |
| IncomeLOCK Plus Options | B-4 |
| Withdrawals under the Living Benefits | B-8 |
| Death Benefits under IncomeLOCK Plus | B-9 |
| **IncomeLOCK Plus Endorsements Issued Prior to** <br> **February 25, 2013**<br>| **B-10** |
| Fee Tables | B-10 |
| IncomeLOCK Plus Features | B-10 |
| IncomeLOCK Plus Options | B-13 |
| Surrender of Account Value | B-14 |
| Loans | B-14 |
| **IncomeLOCK** | **B-14** |
| Extension Offer | B-14 |
| Fee Table | B-15 |
| IncomeLOCK Features | B-15 |
| Surrender of Account Value | B-17 |
| Death Benefits | B-19 |
| Loans | B-19 |
| Examples | B-<u>19</u> |

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**<u>Living Benefit Defined Terms</u>** 

**Anniversary Value** — The Account Value minus any Ineligible Purchase Payments as measured on each Benefit Anniversary.

**Benefit Anniversary** — the first day of each Benefit Year.

**Benefit Base** — a component of the calculation of the Living Benefit, which is used to determine the Living Benefit fee, the MAWA and the Protected Income Payment.

**Benefit Quarter Anniversary** — is the first Business Day following each consecutive three month period starting on the Endorsement Date.

**Benefit Year** — each consecutive one year period starting on the Endorsement Date and each Benefit Anniversary, and ending on the day before the next Benefit Anniversary.

**Covered Person(s)** — the person or persons whose life or lives are used to determine the amount and duration of withdrawals under IncomeLOCK Plus. The Covered Persons are selected at the time IncomeLOCK Plus is elected and cannot be changed after the Endorsement Date. Only your life is used to determine the amount and duration of withdrawals for IncomeLOCK.

**Eligible Purchase Payments** — are Purchase Payments or portions thereof made on or after the Endorsement Date that are included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus). Note that all Purchase Payments are not Eligible Purchase Payments for purposes of calculating the Benefit Base.

**Endorsement Date** — the date we issued the Living Benefit endorsement to your Contract.

**Excess Withdrawal** — any withdrawal or portion thereof that causes the total of all withdrawals for that Benefit Year to exceed the Maximum Annual Withdrawal Amount, except if taken to meet a required minimum distribution associated with the Contract to which a Living Benefit endorsement is attached.

**Income Credit** — is an amount that may be added to the Benefit Base during the Income Credit Period.

**Income Credit Base** — is a component of the calculation of IncomeLOCK Plus, which is used to determine the dollar amount of any Income Credit during the Income Credit Period.

**Income Credit Percentage** — a percentage used to calculate any available Income Credit for IncomeLOCK Plus on each Benefit Anniversary during the Income Credit Period.

**Income Credit Period** — is the first twelve Benefit Years during which we calculate an Income Credit that may be added to the Benefit Base for IncomeLOCK Plus.

**Ineligible Purchase Payments** — are Purchase Payments or portions thereof that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus).

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**Maximum Annual Withdrawal Amount** — the maximum amount that may be withdrawn each Benefit Year and is an amount calculated as a percentage of the Benefit Base.

**Minimum Benefit Base** — is the guaranteed minimum amount to which the Benefit Base could be increased on the 12th Benefit Anniversary for IncomeLOCK Plus, provided no withdrawals are taken prior to that anniversary while the Living Benefit endorsement is in effect.

**Protected Income Payment** — the amount to be paid each year over the remaining lifetime of the Covered Person(s) under IncomeLOCK Plus, after the Account Value is reduced to zero but the Benefit Base is still greater than zero.

**<u>IncomeLOCK Plus</u>** 

The IncomeLOCK Plus Living Benefit is a guaranteed minimum withdrawal benefit. You may elect IncomeLOCK Plus only on your original Contract issue date, subject to certain age requirements. You may elect to have the Living Benefit cover only your life or the lives of both you and your spouse. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

**Fee Table** 

The fees applicable to this Living Benefit are described below. You should keep in mind that an increase in the Benefit Base due to an adjustment to a higher Anniversary Value, an Income Credit, if applicable, or subsequent Eligible Purchase Payments will result in an increase to the dollar amount of the fee. Similarly, a decrease in the Benefit Base due to withdrawals will decrease the dollar amount of the fee.

The IncomeLOCK Plus fees are assessed as a percentage of the Benefit Base for all years in which the IncomeLOCK Plus benefit is in effect. The fee will be calculated and deducted on a proportional basis from your Account Value at the end of the first quarter following election and quarterly thereafter. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons** | **Initial**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annual**<br> **Fee Rate**<br>| **Minimum**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease**<br> **or Increase\***<br>|
| One Covered Person | 1.10<br> %<br>| 2.20<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|
| Two Covered Persons | 1.35<br> %<br>| 2.70<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|

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\*

The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change

quarterly subject to the parameters identified in the table above. After the first Benefit Year, on each "Benefit Quarter Anniversary" (every consecutive three months starting on the Endorsement Date), we will deduct the fee in effect for the previous benefit quarter and determine the fee rate applicable to the next benefit quarter. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your Fee Rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the average value of the VIX from one Benefit Quarter to the next Benefit Quarter. *See "Fee Tables" in this prospectus. For the formula of how the fee is calculated, see "IncomeLOCK Plus Fee Formula" below.* 

We will not assess a quarterly fee if you annuitize your Contract or if a death benefit is paid before the end of the benefit quarter. If IncomeLOCK Plus is still in effect while your Account Value is greater than zero, and you surrender your Contract, we will assess a pro-rata charge for the fee applicable to the benefit quarter in which the surrender occurs if you surrender your Contract before the end of a benefit quarter. The pro-rata fee is calculated by multiplying the fee by the number of days between the date the fee was last assessed and the date of surrender, divided by the number of days between the prior and the next benefit quarter anniversary. If your Account Value is reduced to zero before IncomeLOCK Plus has been cancelled, the fee will no longer be assessed.

**IncomeLOCK Plus Fee Formula** 

The fee for IncomeLOCK Plus is assessed against the Benefit Base and deducted from the Account Value at the end of each Benefit Quarter.

If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the Volatility Index ("VIX"), an index of market volatility reported by the Chicago Board Options Exchange, used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. The formula is the same, and the only difference is the value of the VIX that is used.

The non-discretionary formula used in the calculation of the Annual Fee Rate applicable after the first Benefit Year is:

**Initial Annual Fee Rate + [0.05% x (Value of the VIX as of Market Close on each day the fee is calculated – 20)]** 

The Initial Annual Fee Rate is guaranteed for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table above. Any fee adjustment is based on the non-discretionary formula stated above which is tied to the change in the VIX. If the value of the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly.

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You may find the value of the VIX for any given day by going to the Chicago Board Options Exchange website, www.cboe.com.

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK +6 with a 6% Income Credit may be elected at the date of Contract issue. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years. The Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals. If you take withdrawals in any Benefit Year in excess of 6%, you will not receive any portion of the 6% Income Credit for that Benefit Year.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Amounts Received Under IncomeLOCK Plus — Summary* 

If you elect IncomeLOCK+6, you may choose from Income Option 1, 2 or 3 or the Income Option with a Custom Allocation, which determines the withdrawal percentages you will receive while the Living Benefit is in effect.

You may begin taking withdrawals as early as age 45. The amounts you receive will vary based on (1) the income option you selected, (2) whether there are one or two Covered Persons, and (3) the age of the Covered Person(s) at the time of the first withdrawal. The percentage of the Benefit Base that is guaranteed by the Living Benefits: (1) while the Account Value is greater than zero ranges from 3.25% to 6.5%, and (2) once the Account Value has been reduced to zero ranges from 3% to 5%. *See the "IncomeLOCK Plus Options — Amounts Received Under the Benefit" in this Appendix for more detailed information.* Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in this prospectus).

*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that 20% of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus. All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

The IncomeLOCK +6 (Options 1, 2 and 3) endorsement requires that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). IncomeLOCK +6 (Custom Allocation) allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short- Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

The 20% automatic allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A (IncomeLOCK +6 endorsements with Custom Allocation only). The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus

for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

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*Asset Rebalancing Program* 

We will automatically enroll you in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the restrictions. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the automatic allocation. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing.

You may modify the automatic asset rebalancing instructions at any time as long as they are consistent with the restrictions. If the Living Benefit is cancelled or terminated and the Contract remains in-force, investment restrictions will no longer apply.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

*Additional Important Information Applicable to IncomeLOCK Plus* 

**If you elect IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect. You will need to wait until after the 5th Benefit Year anniversary (the earliest IncomeLOCK Plus termination date), terminate IncomeLOCK Plus and then take a loan. When you terminate IncomeLOCK Plus, you will lose any benefits that you may have had with this feature.** 

Withdrawals under these features are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may withdraw each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus*.

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" and "Federal Tax Matters" sections of this prospectus*.

IncomeLOCK Plus may only be elected on your original Contract issue date, provided you meet the applicable issue age requirements. Note that these features and/or their components may not be available in your state. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*. In addition, effective December 26, 2012, IncomeLOCK Plus is no longer available for new enrollments under plans which are subject to the requirements of Title I of ERISA. This discontinuance will not affect participants who have already elected IncomeLOCK or IncomeLOCK Plus under such plans. Check with your financial professional for availability and any additional restrictions.

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability. **Excess Withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

**IncomeLOCK Plus Options** 

You may elect IncomeLOCK Plus only on your Contract issue date to cover either your life only or the lives of both you and your spouse. We refer to the person or persons whose lifetime withdrawals are guaranteed under IncomeLOCK Plus as the "Covered Person(s)." If your Contract is not owned by a natural person, references to Owner(s) apply to the Annuitant(s). *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

IncomeLOCK +6 locks in the greater of two values in determining the Benefit Base. The Benefit Base determines the basis of the Covered Person(s)' guaranteed lifetime benefit which must be taken in a series of withdrawals. Each consecutive one-year period starting from the Endorsement Date is considered a Benefit Year. While the Benefit Base is greater

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than zero, the Benefit Base is automatically locked in on each Benefit Anniversary, to the greater of (1) the highest Anniversary Value, or (2) the Benefit Base increased by any available Income Credit. The Income Credit is reduced but not eliminated in any Benefit Year in which withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years, even after starting withdrawals. There is an additional guarantee if you do not take any withdrawals before the 12th Benefit Anniversary (the "Minimum Benefit Base"). In that situation, the Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base on the 12th Benefit Anniversary is less than the Minimum Benefit Base, which is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Age Requirements and Covered Persons* 

To elect IncomeLOCK Plus, Covered Persons must meet the age requirements set forth below. The age requirement varies depending on the number of Covered Persons. The age requirements for other optional benefits and features under your Contract may be different than those listed here. You must meet the age requirement for those features in order to elect them.

If you elect one Covered Person:

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| | | |
|:---|:---|:---|
|  | **Covered Person** | **Covered Person** |
|  | **Minimum Age** | **Maximum Age** |
| One Covered Person | 45 | 80 |

---

If you elect two Covered Persons:

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| | | | |
|:---|:---|:---|:---|
|  | **Covered Person #1** | **Covered Person #1** | **Covered Person #2** |
|  | &nbsp;&nbsp; **Minimum**<br> **Age**<br>| &nbsp;&nbsp; **Maximum**<br> **Age**<br>| &nbsp;&nbsp; **Minimum**<br> **Age**<br>|
| Nonqualified:<br> One Owner<br> with Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|
| Qualified: One<br> Owner with<br> Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|

---

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(1) The age requirement is based solely on the single owner for purposes of issuing the Contract with the Living Benefit. The spousal beneficiary's age is not considered in determining the maximum issue age of the second Covered Person.

Covered Persons can be any of the following:

If you elect one Covered Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant (for Contracts not naturally-owned)

If you elect two Covered Persons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner and the 100% spousal primary beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant and the 100% spousal primary beneficiary (for Contracts not naturally-owned)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Spousal joint annuitants (for Contracts not naturally-owned)

Ownership changes can affect IncomeLOCK Plus as follows:

If you elect one Covered Person:

An ownership change that removes the Covered Person cancels the feature. Ownership changes that do not cancel the feature:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner: the natural Contract Owner and the annuitant must be the same person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner: the new natural Contract Owner and the annuitant must be the same person.

If you elect two Covered Persons:

Ownership changes that do not eliminate the second Covered Person's guarantee include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner (the natural Contract Owner and the annuitant must be the same person); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner (the new natural Contract Owner and the annuitant must be the same person).

Ownership changes that eliminate the second Covered Person's guarantee, but still provide the life guarantee for the first Covered Person include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Removal or replacement of the original spousal beneficiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Removal of second Covered Person as Contract Owner or spousal beneficiary as a result of a divorce settlement.

Note also that if a Contract is non-naturally owned, a change of annuitant is not permitted.

*Amounts Received under the Benefit* 

The amount you can receive differs depending on the Income Credit option you have elected and whether the Account Value is greater than or equal to zero. While the Account Value is greater than zero, the Maximum Annual Withdrawal Percentage represents the percentage of the Benefit Base used to calculate the Maximum Annual Withdrawal Amount that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to

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zero, the Protected Income Payment Percentage represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year over the

remaining lifetime of the Covered Person(s). *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.*

The applicable Maximum Annual Withdrawal Percentage and Protected Income Payment Percentage depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. The first percentage represents the Maximum Annual Withdrawal Percentage and the second percentage represents the Protected Income Payment Percentage for each of the options shown.

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons and Age of Covered Person at First Withdrawal** | **Income Option 1** | **Income Option 2** | **Income Option 3** | **Custom Allocation** |
| One Covered Person (Age 64 and Younger) | 5.0% / 3.0%\* | 5.0% / 3.0%\* | 3.75% for Life | 4.5% / 3.0%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4.0% | 6.5% / 3.0% | 5.0% for Life | 4.5% / 4.0% |
| Two Covered Persons (Age 64 and Younger) | 4.5% / 3.0%\* | 4.5% / 3.0%\* | 3.25% for Life | 4.0% /3.0%\* |
| Two Covered Persons (Age 65 and Older) | 5.0% / 4.0% | 6.0% / 3.0% | 4.50% for Life | 4.0% / 4.0% |

---

\* The Protected Income Payment Percentage is 4% if the Benefit Base is increased to a new highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

*Calculation of the Value of each Component of the Benefit* 

The benefit offered by IncomeLOCK Plus is calculated by considering the factors described below. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

First, we determine the initial Benefit Base. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million (annual cap amount) without our prior approval. The initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000. In addition, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Any Purchase Payments made in contract year 1 in excess of the annual cap amount as well as all Purchase Payments received after the first contract year are considered Ineligible Purchase Payments, and are not included in the Benefit Base. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 (annual cap amount) without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Second, we consider the Income Credit Period. The Income Credit Period is the period of time over which we calculate the Income Credit. The Income Credit Period begins on the Endorsement Date and ends 12 years thereafter. The Income Credit Period may not be extended.

Third, we determine the Anniversary Value which equals your Account Value on any Benefit Anniversary minus any Ineligible Purchase Payments. The highest Anniversary Value is the current Anniversary Value that is greater than (1) all previous Anniversary Values; or (2) Eligible Purchase Payments.

Fourth, we determine the Income Credit Base which is used solely as a basis for calculating the Income Credit during the Income Credit Period. The initial Income Credit Base is equal to the initial Benefit Base. The Income Credit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Fifth, we determine the Income Credit.

The Income Credit is equal to 6% ("Income Credit Percentage") of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. If you take withdrawals in a Benefit Year that are in total less than 6% of the Benefit Base (and therefore, less than your Maximum Annual Withdrawal Amount), the Income Credit Percentage on the Benefit Year anniversary is reduced by a percentage calculated as the sum of all withdrawals taken during the preceding Benefit Year, divided by the Benefit Base. For example, if you take a withdrawal that is equal to 4% of the Benefit Base, the Income Credit Percentage for that Benefit Year is reduced from 6% to 2%. However, if you take a withdrawal that is greater than the Maximum Annual Withdrawal Amount in the preceding Benefit Year, the Income Credit for that Benefit Year is equal to zero.

Sixth, we determine the Maximum Annual Withdrawal Amount, which represents the maximum amount that may be withdrawn each Benefit Year while the Account Value is greater than zero, without reducing the Benefit Base, and if applicable, the Income Credit Base. The Maximum Annual Withdrawal Amount is calculated by multiplying the Benefit Base by the applicable Maximum Annual Withdrawal Percentage. If your Account Value

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is reduced to zero but your Benefit Base is greater than zero, the Protected Income Payment is determined by multiplying the Benefit Base by the applicable Protected Income Payment Percentage.

Finally, we consider any Excess Withdrawals. We define Excess Withdrawals as any withdrawal in a Benefit Year taken after the Maximum Annual Withdrawal Amount has been withdrawn, or any portion of a withdrawal that causes the total withdrawals in a Benefit Year to exceed the Maximum Annual Withdrawal Amount.

*Increase of the Benefit Base and Income Credit Base* 

On each Benefit Anniversary, the Benefit Base is automatically increased to the greater of (1) the highest Anniversary Value; or (2) the current Benefit Base plus the Income Credit, if any. In addition, the Benefit Base can also be increased to at least the Minimum Benefit Base on the 12th Benefit Year anniversary, **provided no withdrawals are taken prior to that anniversary.** 

On each Benefit Anniversary during the Income Credit Period (first 12 Benefit Years following the Endorsement Date), the Income Credit Base is automatically increased to the highest Anniversary Value, if the Benefit Base is also increased to the highest Anniversary Value. The Income Credit Base is not increased if an Income Credit is added to the Benefit Base.

Increases to your Benefit Base and Income Credit Base occur on Benefit Anniversaries while the Account Value is greater than zero. However, Eligible Purchase Payments can increase your Benefit Base and Income Credit Base at the time they are received. **Your Benefit Base and Income Credit Base will not increase if your Account Value was higher on days other than the Benefit Anniversary.** 

In any Benefit Year during which subsequent Eligible Purchase Payments are allocated to your Contract, any remaining withdrawals of the Maximum Annual Withdrawal Amount will be based on the increased Maximum Annual Withdrawal Amount reduced by withdrawals previously taken in that Benefit Year. If the Benefit Base is increased on a Benefit Anniversary, the Maximum Annual Withdrawal Amount will be recalculated on that Benefit Anniversary, applicable to the coming Benefit Year, by multiplying the increased Benefit Base by the applicable Maximum Annual Withdrawal Percentage.

If the Account Value has been reduced to zero, the Benefit Base will no longer be recalculated on each Benefit Anniversary. *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.* 

*Impact of Deduction of Advisory Program Fee on Living Benefits* 

If you purchased your Contract and added IncomeLOCK+6 between July 1, 2012 and December 26, 2012, you had the ability to also participate in an Advisory Program. If you did not purchase a Living Benefit between these time frames, enrolling

in an Advisory Program terminated your Living Benefit and the information below does not apply to you.

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the Living Benefit. The examples below assess the impact of the payment of an Advisory Program Fee from the Contract value upon the IncomeLOCK +6 Living Benefit, assuming an initial $100 deposit and no additional payments and no withdrawals.

(1) If, by the end of the year, the Contract Value increases to $120 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $119. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year is $106. Since the Contract value of $119 is greater than the Benefit Base of $106, the Living Benefit will be increased up to the Contract value of $119 instead of $120.

(2) If, by the end of the year, the Contract value decreases to $90 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $89. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year $106 which will be used because it is higher than the Contract value.

**Please note**, if you are participating in a third-party Advisory Program and have the Advisory Program Fee deducted from your Contract, the deduction of the fees will be deemed a withdrawal and could negatively impact your Benefit Base if the advisory fees and the income amount taken under the Living Benefit exceed the Maximum Annual Withdrawal Amount.

An Advisory Program is not available for Contracts with the IncomeLOCK +8 Living Benefit.

*Cancellation of IncomeLOCK Plus* 

IncomeLOCK Plus may be cancelled by the Contract Owner on any Benefit Quarter Anniversary after the end of the 5th Benefit Year. Cancellation will be effective on the Benefit Quarter Anniversary following receipt of a cancellation request and the fee will continue to be deducted up to and including the cancellation effective date. Prior fees taken are not returned upon cancellation. Once IncomeLOCK Plus is cancelled, the guarantees under the benefit are terminated, investment limitations no longer apply to the Contract and you may not re-elect IncomeLOCK Plus.

*Automatic Termination of IncomeLOCK Plus* 

The feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Any Excess Withdrawal that reduces the Account Value and Benefit Base to zero.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A death benefit is paid, and the Contract is terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Full surrender or termination of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Full or partial annuitization of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Upon the death of the single Covered Person (for single life benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Upon the death of the second (surviving) Covered Person (for joint lives benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Any change of ownership except as noted above.

**Withdrawals under the Living Benefits** 

The timing and amount of withdrawals will affect the amounts received under the Living Benefits, as set forth below in greater detail.

The amount of any withdrawal for any Living Benefit which exceeds the Maximum Annual Withdrawal Amount because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an Excess Withdrawal providing that all of the following conditions are met:

(1) No withdrawals in addition to the RMD are taken in that same year;

(2) Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

(3) If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70 ½ (or your applicable RMD age requirement), or retire, if applicable; and

(4) You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an Excess Withdrawal.

If you have elected IncomeLOCK +6 and the RMD amount is greater than the Maximum Annual Withdrawal Amount, but less than 6% of the Benefit Base, an Income Credit will be included in determining any Benefit Base increase in that Benefit Year.

Withdrawals made under these Living Benefits are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and

conditions of the Contract. The sum of withdrawals in any Benefit Year up to the Maximum Annual Withdrawal Amount will not be assessed a surrender charge.

**You should not elect a Living Benefit if you plan to take Excess Withdrawals since those withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

*Withdrawal under IncomeLOCK Plus* 

The Maximum Annual Withdrawal Amount, the Benefit Base and the Income Credit Base may change over time as a result of the timing and amount of withdrawals. If you take a withdrawal before the 12th Benefit Year anniversary, your Benefit Base is not eligible to be increased to the Minimum Benefit Base.

Withdrawals during a Benefit Year that in total are less than or equal to the Maximum Annual Withdrawal Amount will not reduce the Benefit Base or Income Credit Base. However, if you choose to take less than the Maximum Annual Withdrawal Amount in any Benefit Year, you may not carry over the unused amount for withdrawal in subsequent years.

Excess Withdrawals reduce your Benefit Base on the date the Excess Withdrawal occurs. Any Excess Withdrawal in a Benefit Year reduces the Benefit Base in the same proportion by which the Account Value is reduced by the Excess Withdrawal. As a result of a reduction of the Benefit Base, the new Maximum Annual Withdrawal Amount will be equal to the reduced Benefit Base multiplied by the applicable Maximum Annual Withdrawal Percentage. The last recalculated Maximum Annual Withdrawal Amount in a given Benefit Year is available for withdrawal at the beginning of the next Benefit Year and may be lower than the previous Benefit Year's Maximum Annual Withdrawal Amount. When the Account Value is less than the Benefit Base, Excess Withdrawals will reduce the Benefit Base by an amount which is greater than the amount of the Excess Withdrawal. In addition, no Income Credit will be added to the Benefit Base in that Benefit Year.

The impact of withdrawals on specific factors is further explained below:

**Benefit Base and Income Credit Base**: If the sum of withdrawals in any Benefit Year exceeds the Maximum Annual Withdrawal Amount, the Benefit Base and Income Credit Base will be reduced for those withdrawals. For each Excess Withdrawal taken, the Benefit Base and Income Credit Base are reduced in the same proportion by which the Account Value is reduced by the amount in excess of the Maximum Annual Withdrawal Amount.

**Maximum Annual Withdrawal Amount**: The Maximum Annual Withdrawal Amount is recalculated each time there is a change in the Benefit Base. Accordingly, if the sum of withdrawals in any Benefit Year does not exceed the Maximum Annual Withdrawal Amount for that year, the Maximum Annual Withdrawal Amount will not change for the next year unless your Benefit Base is

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increased. If you take an Excess Withdrawal, the Maximum Annual Withdrawal Amount will be recalculated by multiplying the reduced Benefit Base by the existing Maximum Annual Withdrawal Percentage. This recalculated Maximum Annual Withdrawal Amount is available for withdrawal at the beginning of the next Benefit Year and may be lower than your previous Maximum Annual Withdrawal Amount.

**Protected Income Payment**: If the Benefit Base is greater than zero, but the Account Value has been reduced to zero, we will pay any remaining Maximum Annual Withdrawal Amount for the current Benefit Year. Thereafter, you will receive the Protected Income Payment each year over the remaining lifetime of the Covered Person(s) which is calculated by multiplying the Benefit Base by the applicable Protected Income Payment Percentage. The Benefit Base is no longer increased on Benefit Anniversaries after the Account Value has been reduced to zero. As a result, the Protected Income Payment is calculated once and will not change. See "If your Account Value is Reduced to Zero" below.

*If your Account Value is Reduced to Zero* 

All withdrawals from the Contract, including withdrawals under IncomeLOCK Plus, will reduce your Account Value. Unfavorable investment experience and/or fees may also reduce your Account Value. If the Account Value is reduced to zero but the Benefit Base is greater than zero, we will pay the remaining Maximum Annual Withdrawal Amount. Thereafter we will pay the Protected Income Payment over the remaining lifetime of the Covered Person(s).

**If an Excess Withdrawal reduces your Account Value to zero, no further benefits are payable under the Contract and your Contract along with IncomeLOCK Plus will terminate.** 

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit is payable. Therefore, you should be aware that, particularly during times of unfavorable investment performance, withdrawals taken under IncomeLOCK Plus may reduce the Account Value to zero, thereby terminating any other benefits of the Contract. In addition, an Income Credit is not available if the Account Value is reduced to zero, even if a benefit remains payable.

When the Account Value equals zero but the Benefit Base is greater than zero, to receive any remaining Living Benefit, you must select one of the following options for payment:

1. The Protected Income Payment divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

2. Any payment option mutually agreeable between you and us.

Once you elect a payment option, it cannot be changed. If you do not select a payment option above, the remaining benefit will

be paid as an amount based on the Protected Income Payment Percentage. This amount will be divided equally and paid on a quarterly basis until the date of death of the Covered Person(s).

*Latest Annuity Date* 

If the Account Value is greater than zero and you have reached the latest Annuity Date, if applicable, the Maximum Annual Withdrawal Amount is no longer available for withdrawal under IncomeLOCK Plus. Rather, the Protected Income Payment will be calculated by multiplying the Benefit Base by the Protected Income Payment Percentage and paid until the death(s) of the Covered Person(s), as discussed under "*If your Account Value is Reduced to Zero" above.* 

If the Account Value and the Benefit Base are greater than zero on the latest Annuity Date, you must select one of the following options:

1. Annuitize the Account Value under the Contract's annuity provisions; or

2. Elect to receive the Protected Income Payment on the latest Annuity Date, divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

3. Any payment option mutually agreeable between you and us.

If you do not elect an option listed above, on the latest Annuity Date, we may annuitize the Account Value in accordance with one of the single or joint life and period certain options under the Annuity Provisions of the Contract or payments that do not exceed your life expectancy as required by the Internal Revenue Service ("IRS").

**Death Benefits under IncomeLOCK Plus** 

If there is one Covered Person and that person dies, the surviving spousal Beneficiary may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract if the Account Value is greater than zero, without IncomeLOCK Plus and its corresponding fee.

If there are two Covered Persons, upon the death of one Covered Person, the surviving Covered Person may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract with IncomeLOCK Plus and its corresponding fee.

The components of IncomeLOCK Plus in effect at the time of such continuation will not change. The surviving Covered

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Person can elect to receive withdrawals in accordance with the provisions of IncomeLOCK Plus elected based on the age of the younger Covered Person at the time the first withdrawal was taken. If no withdrawals were taken prior to the continuation, the Maximum Annual Withdrawal Percentage and the Protected Income Payment Percentage will be based on the age of the surviving Covered Person at the time the first withdrawal is taken. If the continuation occurs during the Income Credit Period, the surviving Covered Person will continue to receive any increases to the Benefit Base for highest Anniversary Values or if applicable, any Income Credit while the Account Value is greater than zero. The surviving Covered Person is also eligible to receive the Minimum Benefit Base on the 12th Benefit Anniversary if no withdrawals have been taken during the first 12 Benefit Years following the Endorsement Date.

Upon the death of the Covered Person(s), if the Account Value is greater than zero, a Beneficiary who is not a Covered Person must make an election under the death benefit provisions of the Contract, which terminates IncomeLOCK Plus.

*For more information on death benefits, see "Death Benefits" in the prospectus.* 

**<u>IncomeLOCK Plus Endorsements Issued Prior to February 25,</u> <u>2013</u>** 

Effective February 25, 2013, the IncomeLOCK +8 living benefit is no longer available for purchase. If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to February 25, 2013, the following provisions are applicable to this feature. All other IncomeLOCK Plus information provided in this Appendix under the heading "IncomeLOCK Plus" above applies to your Living Benefit except the following:

**Fee Tables** 

The IncomeLOCK Plus fee is calculated as a percentage of the Benefit Base.<sup>1</sup>

For Endorsement Dates of December 26, 2012 through February 24, 2013:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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For IncomeLOCK Plus Endorsement Dates of May 1, 2012 through December 25, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.30% | 2.60% | +/-0.25% |
| Two Covered Persons | 1.55% | 3.10% | +/-0.25% |

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For Endorsement Dates prior to May 1, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK Plus was available with two separate Income Credit options: IncomeLOCK +6, with a 6% Income Credit, and IncomeLOCK +8, with an 8% Income Credit. The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

For IncomeLOCK +6, the Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals.

For IncomeLOCK +8, the Income Credit is only available in years when no withdrawals are taken.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

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<sup>1</sup>

The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. *For a complete description of how the Benefit Base is calculated for IncomeLOCK Plus, see "IncomeLOCK Plus — IncomeLOCK Plus Options"* in this Appendix.

<sup>2</sup>

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. If the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly. *See "IncomeLOCK Plus — IncomeLOCK Plus Fee Formula" in this Appendix.*

<sup>3</sup>

The Minimum Annual Fee Rate for IncomeLOCK Plus is 0.60%.

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during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments if the feature is added on the original Contract issue date or 200% of your Account Value on the Endorsement Date if the feature was added after your original Contract issue date and prior to May 1, 2012.

*Amounts Received Under IncomeLOCK Plus* 

You may begin taking withdrawals as early as age 45. If you elected IncomeLOCK+6 on December 26, 2012 through February 24, 2013, the withdrawal percentage you receive while the Living Benefit is in effect varies according to the Income Credit Option you elected (Option 1, 2, 3 or Custom Allocation).

In addition, if you elected IncomeLOCK +6 or IncomeLOCK +8, your withdrawal percentage will vary primarily depending on (1) whether you elected one or two Covered Persons, (2) the age of the Covered Person(s) at the time of the first withdrawal and (3) whether the Account Value is greater than or equal to zero.

While the Account Value is greater than zero, the MAWP represents the percentage of the Benefit Base used to calculate the MAWA that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to zero, the PIPP represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year

over the remaining lifetime of the Covered Person(s). See "IncomeLOCK Plus — If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" in the prospectus.

The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value is greater than zero, or the MAWP, ranges from 5% to 6% for IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012 and ranges from 4.5% to 5.5% for IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012. The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value has been reduced to zero, or the PIPP, ranges from 3% to 4%. The MAWP and PIPP will vary based on (1) the Living Benefit selected (IncomeLOCK +6 or IncomeLOCK +8), (2) whether there are one or two Covered Person(s), (3) the age of the Covered Person(s) at the time of the first withdrawal, and (4) the Endorsement Date of the Living Benefit.

Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in the prospectus).

The applicable MAWP and PIPP depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. **The first percentage represents the MAWP and the second percentage represents the PIPP for each of the options shown.**

*For IncomeLOCK Plus with an Endorsement Date on December 26, 2012 through February 24, 2013:* 

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **Income**<br> **Option 1**<br>| &nbsp;&nbsp; **Income**<br> **Option 2**<br>| &nbsp;&nbsp; **Income**<br> **Option 3**<br>| &nbsp;&nbsp; **Custom**<br> **Allocation**<br>|
| One Covered Person (Age 64 and Younger) | 5.5% / 3%\* | 5.5% / 3% | 3.75% for Life | 4.5% / 3%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4% | 6.5% / 3% | 5% for Life | 4.5% / 4% |
| Two Covered Persons (Age 64 and Younger | 5% / 3%\* | 5% / 3% | 3.25% for Life | 4% / 3%\* |
| Two Covered Persons (Age 65 and Older) | 5% / 4% | 6% / 3% | 4.50% for Life | 4% / 4% |

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\* The PIPP is 4% if the Benefit Base is increased to a new Highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

**IncomeLOCK +8** 

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| | |
|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **MAWP**<br> **and**<br> **PIPP**<br>|
| One Covered Person (Age 64 and Younger) | 3.75% for Life |
| One Covered Person (Age 65 and Older) | 4.75% for Life |
| Two Covered Persons (Age 64 and Younger | 3.25% for Life |
| Two Covered Persons (Age 65 and Older) | 4.25% for Life |

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*For IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 5.5% / 3% | 5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 5.5% / 4% | 5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5% / 3% | 4.5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5% / 4% | 4.5% / 4% |

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*For IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 6% / 3% | 5.5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 6% /4% | 5.5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5.5% / 3% | 5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5.5% /4% | 5% / 4% |

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*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that a percentage of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus (15% if your Endorsement Date was before May 1, 2012 and 20% if your Endorsement Date was after May 1, 2012). All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

*Living Benefits Elected on December 26, 2012 through February 24, 2013.* The IncomeLOCK +6 (Options 1, 2 and 3) and IncomeLOCK +8 endorsements require that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). The IncomeLOCK +6 endorsement with Custom Allocation allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more

than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

We will automatically allocate 15% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was prior to May 1, 2012 or 20% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was after May 1, 2012.

The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

*Asset Rebalancing Program.* 

If you elected IncomeLOCK Plus, you are automatically enrolled in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the investment restrictions noted above. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the 15% or 20% automatic allocation referenced above. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the

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restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing. *See the "IncomeLOCK Plus Features — Asset Rebalancing Program" section of this Appendix for additional details of the automatic rebalancing program.* 

*See the "IncomeLOCK Plus Features — Additional Important Information about IncomeLOCK Plus" section in this Appendix for information about your Living Benefit.* 

**IncomeLOCK Plus Options** 

If you elected IncomeLOCK +8, the Income Credit is eliminated in any Benefit Year in which you take a withdrawal.

*Calculation of the Value of each Component of the Benefit* 

The calculation of the initial Benefit Base for IncomeLOCK +6 with Endorsement Dates prior to December 26, 2012 and for IncomeLOCK +8 with Endorsement Dates prior to February 25, 2013 is set forth below. *If you elected IncomeLOCK Plus on or after December 26, 2012, see the section of this Appendix titled "Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

The calculation of other components of the Living Benefit, including the Income Credit Period, the Anniversary Value, the Income Credit Base, the Income Credit (if you elected IncomeLOCK +6), the MAWA and Excess Withdrawals, is calculated as set forth in the section of this Appendix titled *"Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

First, we determine the initial Benefit Base. If IncomeLOCK Plus was selected prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million without our prior approval. If IncomeLOCK Plus is selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK Plus was selected prior to December 26, 2012, certain Purchase Payments received during the first five years after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base, as follows:

1. 100% of Purchase Payments received in the first contract year; and

2. Purchase Payments received in each of contract years 2-5, capped each year at an amount equal to 200% of the Purchase Payments received in contract year 1.

For example, if you made a $100,000 Purchase Payment in contract year 1, Eligible Purchase Payments will include

additional Purchase Payments of up to $200,000 for contract years 2-5 for a grand total maximum of $900,000 of Eligible Purchase Payments.

Any Purchase Payments made after your Endorsement Date (if IncomeLOCK Plus was selected after Contract issue), or any Purchase Payments made in contract years 2-5 in excess of the annual cap amount as well as all Purchase Payments received after the 5th contract year (if IncomeLOCK Plus is selected at Contract issue) are considered Ineligible Purchase Payments, and are not included in the Benefit Base.

If IncomeLOCK +8 was selected on December 26, 2012 through February 24, 2013, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment and is reduced proportionately for Excess Withdrawals.

If you elect IncomeLOCK +8, the Income Credit is 8% of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. The Income Credit may only be added to the Benefit Base if no withdrawals are taken in a Benefit Year. For example, if you take a withdrawal in Benefit Year 2, you will not be eligible for an Income Credit to be added to your Benefit Base on your second Benefit Anniversary; however, if you do not take a withdrawal in Benefit Year 3, you will be eligible for an Income Credit to be added to your Benefit Base on your third Benefit Anniversary.

*See "IncomeLOCK Plus Options — Cancellation of IncomeLOCK Plus" under the heading "IncomeLOCK Plus" for information on how you may cancel your Living Benefit.* 

*Automatic Termination of IncomeLOCK Plus* 

In addition to the termination events discussed in this Appendix in the section titled *"IncomeLOCK Plus Options — Automatic Termination of IncomeLOCK Plus" under the heading "IncomeLOCK Plus"*, the feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

1. The Contract Owner elects to take a loan from the Contract while the benefit is in effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2. The Contract Owner elects to add Guided Portfolio Services or Guided Portfolio Advantage while the benefit is in effect.

**Surrender of Account Value** 

If you have elected IncomeLOCK +8, no Income Credit will be included in the calculation of the Benefit Base when an RMD is taken.

**Loans** 

If you elected IncomeLOCK Plus prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**<u>IncomeLOCK</u>** 

IncomeLOCK, a Living Benefit, is no longer offered. If you elected IncomeLOCK, the following provisions are applicable to this feature.

In addition to the defined terms in the prospectus, the following defined terms are applicable to the IncomeLOCK Living Benefit:

**Anniversary Value** — the Account Value minus any Ineligible Purchase Payments, as measured on any Benefit Anniversary during the MAV Evaluation Period.

**Maximum Anniversary Value ("MAV") Evaluation Period** — the period beginning on the Endorsement Date and ending on the 10th Benefit Anniversary for IncomeLOCK.

**Minimum Withdrawal Period ("MWP")** — the minimum period over which you may take withdrawals under IncomeLOCK, if withdrawals are not taken under the lifetime withdrawal option.

**Extension Offer** 

The information below is important to you if you purchased a Contract between May 1, 2006 and July 5, 2010 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ends after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it was offered, you will not be permitted to extend the MAV Evaluation Period in the

future. As with all important financial decisions, we recommend that you discuss this with your financial professional.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2006 and July 5, 2010 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.65% | 0.90% |

---

As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

The information below is important to you if you purchased a Contract between July 6, 2010 and April 30, 2012 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ended after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it is offered, you will not be permitted to extend the MAV Evaluation Period in the future. As with all important financial decisions, we recommend that you discuss this with your financial advisor.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between July 6, 2010 and April 30, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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---

| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.70% | 0.95% |

---

As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2012 and July 2, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.90% | 1.15% |

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As a reminder, you also have the option to cancel your IncomeLOCK Living Benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elect to cancel your IncomeLOCK Living Benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

**Fee Table** 

The IncomeLOCK fee is calculated as a percentage of the Benefit Base.<sup>4</sup>

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| |
|:---|
| **Fee Period** |
| All years<br>0.90%<sup>5</sup> <br>|

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The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit. If your Account Value and/or Benefit Base falls to zero before the feature has been terminated, the fee will no longer be deducted.

We will not assess the quarterly fee if you surrender or annuitize your Contract before the end of a quarter.

**IncomeLOCK Features** 

IncomeLOCK provides for an automatic lock-in of the Contract's highest Anniversary Value during the first ten years from the Endorsement Date (or twenty years, if the benefit is extended). You have the flexibility to receive income under the benefit when and how you need it. Each year, you can withdraw up to 5%, 7% or 10% of your Benefit Base (the total guaranteed amount available for withdrawal), depending on when you take your first withdrawal. A guaranteed lifetime income of 5% is also available if you wait until the Benefit Anniversary following your 65th birthday to take your first withdrawal under the Living Benefit. The MAWP is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Before 5th Benefit Year anniversary: 5%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 5th Benefit Year anniversary: 7%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 10th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 20th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after the Benefit Anniversary following your 65th birthday (for lifetime withdrawals): 5%

*Investment Restrictions* 

As long as your IncomeLOCK endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages below. You may combine Variable Investment Options from Groups A, B and C to create your personal investment portfolio. IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010 are not subject to these investment restrictions.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

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<sup>4</sup>

IncomeLOCK is an optional guaranteed minimum withdrawal benefit. The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit.

<sup>5</sup>

For IncomeLOCK endorsements with an Endorsement Date from July 6, 2010 to April 30, 2012, the maximum annual fee is 0.70%, and for IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010, the maximum annual fee is 0.65%. For IncomeLOCK endorsements with an Endorsement Date from May 1, 2012, to July 2, 2012, the maximum annual fee is 0.90%.

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*Additional Important Information about IncomeLOCK* 

**If you take a loan after your IncomeLOCK Endorsement Date, the Living Benefit will automatically be terminated and you will lose any benefits that you may have had with this feature.** Withdrawals under this feature are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may remove each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus.* 

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" section of this prospectus, including the section in this Appendix, and the "Federal Tax Matters" section of this prospectus.* 

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability.

*IncomeLOCK Components* 

The benefit's components and value may vary depending on when the first withdrawal is taken, the age of the Contract Owner at the time of the first withdrawal and the amount that is withdrawn. Your withdrawal activity determines the time period over which you are eligible to receive withdrawals. You will automatically be eligible to receive lifetime withdrawals if you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and your withdrawals do not exceed the maximum annual withdrawal percentage of 5% in any Benefit Year. You may begin taking withdrawals under the benefit immediately following the date the IncomeLOCK endorsement is issued for your Contract. *See "Surrender of Account Value" in this Appendix for more information regarding the effects of withdrawals on the components of IncomeLOCK and a description of the effect of RMDs on the Living Benefit.* 

The table below is a summary of the IncomeLOCK feature and applicable components of the benefit.

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| | | | |
|:---|:---|:---|:---|
| **Withdrawal** | **MAWP**<br> **Prior**<br> **to any**<br> **Extension**<br>| **Initial**<br> **MWP**<br> **Prior to**<br> **any**<br> **Extension**<br>| **MAWP**<br> **if**<br> **Extension**<br> **is Elected**<br>|
| Before 5th Benefit Anniversary | 5% | 20 Years | 5% |
| On or after 5th Benefit Anniversary | 7% | 14.28 Years | 7% |
| On or after 10th Benefit Anniversary | 10% | 10 Years | 7% |
| On or after 20th Benefit Anniversary | 10% | 10 Years | 10% |
| &nbsp;&nbsp;&nbsp; On or after the Benefit Anniversary<br> following Contract owner's<br> 65th birthday.<br>| 5% | Life of the<br> Contract<br> Owner<sup>6</sup> <br>| 5% |

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*Calculation of the value of each component of the Benefit* 

First, we determine the Benefit Base. If IncomeLOCK was selected after Contract issue and prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1 million without our prior approval. If IncomeLOCK was selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK was selected at Contract issue, the amount of Purchase Payments received during the first two years after your Endorsement Date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base. Any Purchase Payments we receive after your Endorsement Date, if IncomeLOCK was selected after Contract issue (or more than two years after your Endorsement Date, if IncomeLOCK is selected at Contract issue) are considered Ineligible Purchase Payments. Eligible Purchase Payments are limited to $1 million without our prior approval.

On each Benefit Anniversary throughout the MAV Evaluation Period, the Benefit Base automatically adjusts upwards if the current Anniversary Value is greater than both the current Benefit Base and any previous year's Anniversary Value. Other than reductions made for withdrawals (including Excess Withdrawals), the Benefit Base will only be adjusted upwards. Note that during the MAV Evaluation Period the Benefit Base will never be lowered if Anniversary Values decrease as a result of investment performance. *For effects of withdrawals on the Benefit Base, see the "Surrender of Account Value" section in this Appendix.* 

Second, we consider the MAV Evaluation Period, which begins on the Endorsement Date and ends on the 10th anniversary of the Endorsement Date. Upon the expiration of the MAV

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<sup>6</sup>

Lifetime withdrawals are available so long as your withdrawals remain within the 5% MAWP indicated above. If withdrawals exceed the 5% MAWP in any Benefit Year, and if the excess is not solely a result of RMDs attributable to this Contract, lifetime withdrawals will no longer be available. Instead, available withdrawals are automatically recalculated with respect to the MWP and MAWP listed in the table above, based on the time of first withdrawal and reduced for withdrawals already taken.

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Evaluation Period, you may contact us to extend the MAV Evaluation Period for an additional period as discussed further below.

Third, we determine the Anniversary Value, which equals your Account Value on any Benefit Anniversary during the MAV Evaluation Period, minus any Ineligible Purchase Payments. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value.

Fourth, we determine the MAWA, which represents the maximum amount that may be withdrawn each Benefit Year without creating an excess withdrawal and is an amount calculated as a percentage of the Benefit Base. The applicable MAWP is determined based on the Benefit Year when you take your first withdrawal, or, for lifetime withdrawals, the age of the owner when the first withdrawal is taken. Applicable percentages are shown in the IncomeLOCK summary table above. If the Benefit Base is increased to the current Anniversary Value, the MAWA is recalculated on that Benefit Anniversary using the applicable MAWP multiplied by the new Benefit Base. If the Benefit Base is increased as a result of Eligible Purchase Payments, the MAWA will be recalculated by multiplying the new Benefit Base by the applicable MAWP.

Lastly, we determine the MWP, which is the minimum period over which you may take withdrawals under this feature. The initial MWP is calculated when withdrawals under the benefit begin, and is re-calculated when the Benefit Base is adjusted to a higher Anniversary Value by dividing the Benefit Base by the MAWA*. See the summary table above for initial MWPs.* The MWPs will be reduced due to Excess Withdrawals. *For effects of withdrawals on the MWP, see the "Surrender of Account Value" section of this prospectus.* 

An Advisory Program is not available with the IncomeLOCK Living Benefit. If you sign up for an Advisory Program, the IncomeLOCK Living Benefit will be terminated.

*Cancellation of IncomeLOCK* 

IncomeLOCK may be cancelled on the 5th Benefit Anniversary, the 10th Benefit Anniversary, or any Benefit Anniversary thereafter. Once IncomeLOCK is cancelled, you will no longer be charged a fee and the guarantees under the benefit are terminated. You may not extend the MAV Evaluation Period and you may not re-elect IncomeLOCK after cancellation.

*Automatic Termination of IncomeLOCK* 

The feature automatically terminates upon the occurrence of one of the following:

1. The MWP has been reduced to zero unless conditions for lifetime withdrawals are met; or

2. Full or partial annuitization of the Contract; or

3. Full surrender of the Contract; or

4. A death benefit is paid; or

5. You elect to take a loan from the Contract; or

6. Your spousal Beneficiary elects to continue the Contract without IncomeLOCK; or

7. You elect to participate in an Advisory Program.

Lifetime withdrawals will not be available in the event of:

1. An ownership change which results in a change of the older Contract Owner;<sup>7</sup> or

2. Withdrawals prior to the Benefit Anniversary following the 65th birthday of the Contract Owner; or

3. Death of the Contract Owner; or

4. A withdrawal in excess of the 5% MAWA.<sup>8</sup>

**Surrender of Account Value** 

The timing and amount of withdrawals will affect the amounts received under IncomeLOCK as set forth below in greater detail.

The amount of any withdrawal for IncomeLOCK which exceeds the MAWA because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an excess withdrawal providing that all of the following conditions are met:

1. No withdrawals in addition to the RMD are taken in that same year;

2. Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

3. If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70½ (or age 72, if applicable), or retire, if applicable; and

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<sup>7</sup>

If a change of ownership occurs from a natural person to a non-natural entity, the original natural older owner must also be the annuitant after the ownership change to prevent termination of lifetime withdrawals. A change of ownership from a non-natural entity to a natural person can only occur if the new natural owner was the original natural older annuitant in order to prevent termination of lifetime withdrawals. Any ownership change is contingent upon prior review and approval by the Company.

<sup>8</sup>

However, if an RMD withdrawal for this Contract exceeds the MAWA, the ability to receive lifetime withdrawals will not be terminated as long as withdrawals of RMDs are determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account. See the "Surrender of Account Value" section in this prospectus.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

4. You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an excess withdrawal. This will result in the cancellation of lifetime withdrawals and further may reduce your remaining MWP.

Withdrawals made under IncomeLOCK are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and conditions of the Contract. The sum of withdrawals in any Benefit Year up to the MAWA will not be assessed a surrender charge.

The MAWA, Benefit Base and MWP may change over time as a result of the timing and amounts of withdrawals.

If you elect to begin withdrawals prior to the Benefit Anniversary following your 65th birthday, you will not be eligible to receive lifetime withdrawals. If you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and wish to receive lifetime withdrawals, the MAWA is calculated as 5% of the Benefit Base. At any time, if the amount of withdrawals exceeds 5% of the Benefit Base in a Benefit Year, you will not be guaranteed to receive lifetime withdrawals. However, you can continue to receive withdrawals over the MWP in amounts up to the MAWA as described above, based on when you made your first withdrawal and reduced by withdrawals already taken.

Total withdrawals in any Benefit Year equal to or less than the MAWA reduce the Benefit Base by the amount of the withdrawal. Withdrawals in excess of the MAWA are considered Excess Withdrawals. We define Excess Withdrawals as either: 1) any withdrawal that causes the total withdrawals in a Benefit Year to exceed the MAWA; or 2) any withdrawal in a Benefit

Year taken after the MAWA has been withdrawn. Excess Withdrawals will reduce the Benefit Base by the greater of: (a) the amount of the Excess Withdrawal; or (b) the relative size of the Excess Withdrawal in relation to the Account Value on the next Benefit Anniversary after the Excess Withdrawal. This means that if Account Value is less than the Benefit Base, withdrawals greater than the MAWA will result in a proportionately greater reduction of the Benefit Base (as described below), which will be more than the amount of the withdrawal itself. This will also reduce your MAWA.

The impact of withdrawals and the effect on each component of IncomeLOCK are further explained below.

**Account Value:** Any withdrawal reduces the Account Value by the amount of the withdrawal.

**Benefit Base:** Withdrawals reduce the Benefit Base as follows:

1. All withdrawals up to the MAWA, and any withdrawals in

excess of the MAWA which are due solely to RMDs (as more specifically described above), will reduce the Benefit Base by the dollar amount of the withdrawal;

2. Excess Withdrawals as described above reduce the Benefit Base to the lesser of (a) or (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is the Benefit Base immediately prior to the Excess Withdrawal minus the amount of the Excess Withdrawal, or;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the Benefit Base immediately prior to the Excess Withdrawal reduced in the same proportion by which the Account Value on the next Benefit Anniversary after the Excess Withdrawal is reduced by the amount of the Excess Withdrawal.

**Maximum Annual Withdrawal Amount (MAWA):** The MAWA will be adjusted as follows:

1. If there are no Excess Withdrawals in a Benefit Year, no further changes are made to the MAWA for the next Benefit Year.

2. If there are Excess Withdrawals in a Benefit Year, the MAWA will be recalculated on the next Benefit Anniversary. The new MAWA will equal the new Benefit Base on that Benefit Anniversary after the Withdrawal divided by the new MWP on that Benefit Anniversary. The new MAWA may be lower than your previously calculated MAWA.

**Minimum Withdrawal Period (MWP):** The MWP is calculated as follows:

1. If there are no Excess Withdrawals during a Benefit Year, the new MWP will be the Benefit Base after the withdrawal divided by the current MAWA.

2. If there are Excess Withdrawals during a Benefit Year, the new MWP will equal the MWP calculated at the end of the prior Benefit Year reduced by one year. In the case of lifetime withdrawals, such an Excess Withdrawal will cancel that period and the new MWP will be determined by dividing the new Benefit Base by the new MAWA.

*If your Account Value is Reduced to Zero* 

If your Account Value is reduced to zero and the Benefit Base is greater than zero, subsequent Purchase Payments will no longer be accepted and a death benefit will not be payable. Further payments under the Contract will be made according to your irrevocable election of one of the following two alternatives:

(1) In a form acceptable to the Company, you may request a lump sum equal to the discounted present value of any remaining guaranteed payments under the benefit; or,

(2) If no lump sum request is received by the Company during the period described in a notice provided to you by the Company, you will receive an annuity according to the annuitization provisions of your Contract. Absent an

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alternative election by you, the annuity will consist of annual payments equal to the MAWA, for a period of years equal to the remaining Benefit Base divided by the MAWA. Such payments will be made quarterly unless otherwise elected, and each individual periodic payment will be equal to the pro-rata portion of the annual MAWA based upon the frequency. Prior to the commencement of such payments, you may also elect to receive an alternative form of annuity, in any other actuarially equivalent form permitted under the Contract, subject to any applicable limitations under the Contract or the Plan.

*Extending the MAV Evaluation Period* 

At the end of the MAV Evaluation Period, as long as the benefit is still in effect and the older owner is age 85 or younger, we guarantee that you will be given the opportunity to extend the MAV Evaluation Period for at least one additional evaluation period of 10 years. If you elect to extend the MAV Evaluation Period, the Benefit Base can continue to be adjusted upward as described above on each anniversary during the new MAV Evaluation Period. Also, if you extend the MAV Evaluation Period, you should note that the components of the feature, such as the fee and MAWP, will change to those in effect at the time you elect to extend. The components and fees may be different from when you initially elected the feature. Additional MAV Evaluation Periods may be offered at our sole discretion.

If you do not contact us to extend the MAV Evaluation Period, the Benefit Base will no longer be adjusted on subsequent Benefit Anniversaries. However, you can continue to take the MAWA in effect at the end of the last MAV Evaluation Period, subject to adjustments for withdrawals. You will continue to pay the fee at the rate that was in effect during the last MAV Evaluation Period and you will not be permitted to extend the MAV Evaluation Period in the future.

**Death Benefits** 

*Spousal Beneficiary* 

Upon the death of the Contract Owner, and subject to any applicable limitations in this Contract, the Code, or under the plan or arrangement under which the Contract is issued, your spousal Beneficiary may elect either (i) to receive a death benefit in accordance with one of the forms permitted under the provisions of this Contract (if the Account Value is greater than zero), (ii) continue this Contract and IncomeLOCK (except as noted below) or (iii) continue the Contract and cancel IncomeLOCK and its accompanying charge. Spousal continuation of the Contract (and IncomeLOCK) is not available if the Contract was set up under one of the following "qualified" plan types: 403(b), 401(k), 401(a) or 457(b). For these Contracts, a spousal Beneficiary, like a non-spousal Beneficiary, cannot continue IncomeLOCK and must take a death benefit under the terms of the Contract. A spousal Beneficiary may

continue IncomeLOCK but only for nonqualified Contracts and IRA plan types (Roth IRA, traditional IRA, SEP, and Simple IRA). Upon election to continue the Contract and IncomeLOCK, your spousal Beneficiary will be subject to the terms and conditions of IncomeLOCK, including the charge. Upon the owner's death, lifetime withdrawals under the IncomeLOCK end and are not available to your spousal Beneficiary. In this event, available withdrawals under IncomeLOCK are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken. The Endorsement Date will not change as the result of spousal continuation.

*Non-Spousal Beneficiary* 

Upon the death of the Contract Owner, if the Account Value is greater than zero, IncomeLOCK will terminate, and your nonspousal Beneficiary(ies) must receive a death benefit in accordance with the otherwise applicable terms of this Contract. If the Account Value is zero upon your death (meaning that no death benefit is payable) but the MWP remaining is greater than zero, a nonspousal beneficiary will receive the remaining value in a lump sum equal to the discounted present value of any remaining guaranteed payments under IncomeLOCK. Upon your death, lifetime withdrawals under the IncomeLOCK end and any available withdrawals under this Endorsement are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken.

**Loans** 

If you elected IncomeLOCK prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**Examples** 

*IncomeLOCK +6 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +6 features.

Example 1:

Assume you elect IncomeLOCK elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your Income Credit on the 1st Contract anniversary is the Income

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Credit Percentage (6%) multiplied by the Income Credit Base ($100,000) which equals $6,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($6,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $106,000 = $5,300). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,300 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $106,000 = $4,240). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,240 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5300 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $125080 | $118000 | $7080 | $6254 |
| 4th | $110000 | $132160 | $118000 | $7080 | $6608 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $159000 | $150000 | $9000 | $7950 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $159,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $7,950 (5% of the $159,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $7,950 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $159,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $159,000 = $6,360). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,360 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($7,950), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $7,950), or $4,980. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $7,950. Your Account Value after this portion of the withdrawal is $101,460 ($109,410 — $7,950), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,980 / $101,460 = 4.91%). The Benefit Base is adjusted to $151,193, or $159,000 x 95.09%. The Income Credit Base is adjusted to $142,635 or $150,000 x 95.09%. Your new Income Credit is 6% of your new Income Credit Base (6% x $142,635), which equals $8,558. Your new MAWA is your Benefit Base multiplied by your MAWP ($151,193 x 5%), which equals $7,560. Therefore, if you do not take additional excess withdrawals, you may take up to $7,560 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $151,193, then your Protected Income Payment is 4% of the Benefit Base (4%x$151,193=$6,048). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,048 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |
| 9th | $103000 | $154000 | $100000 | $6000 | $8470 |
| 10th | $103000 | $160000 | $100000 | $6000 | $8800 |
| 11th | $103000 | $166000 | $100000 | $6000 | $9130 |

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($172,000 = $166,000 + $6,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 9th | $98560 | $151000 | $100000 | $3000 | $8305 |
| 10th | $91010 | $152000 | $100000 | $1000 | $8360 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $148,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $8,140 (5.5% of the $148,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,440 (3% of the $148,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,560 ($103,000 — $4,440). Your Net Income Credit Percentage equals 3% (6% — 3%). Therefore, your new Income Credit is 3% of your Income Credit Base (3% x $100,000), which is $3,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,560) or your Income Credit plus your current Benefit Base ($151,000 = $3,000 + $148,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $7,550 (5% of the $151,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $91,010 ($98,560 — $7,550). Your new Income Credit is 1% (6% — 5%) of your Income Credit Base (1% x $100,000), which is $1,000. Your Benefit Base is equal to the greatest of your Account Value ($91,010) or your Income Credit plus your current Benefit Base ($152,000 = $1,000 + $151,000).

On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $8,360 (5.5% of the $152,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $8,360 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $152,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $152,000 = $6,080). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,080 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK +8 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +8 features.

Example 1:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your

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Income Credit on the 1st Contract anniversary is the Income Credit Percentage (8%) multiplied by the Income Credit Base ($100,000) which equals $8,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($8,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $108,000 = $5,400). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,400 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $108,000 = $4,320). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,320 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5400 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $127440 | $118000 | $9440 | $6372 |
| 4th | $110000 | $136880 | $118000 | $9440 | $6844 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $162000 | $150000 | $12000 | $8100 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $162,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $8,100 (5% of the $162,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $8,100 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $162,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $162,000 = $6,480). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess

Withdrawal, you are guaranteed an income of $6,480 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($8,100), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $8,100), or $4,830. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,100. Your Account Value after this portion of the withdrawal is $101,310 ($109,410 — $8,100), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,830 / $101,310 = 4.77%). The Benefit Base is adjusted to $154,277, or $162,000 x 95.23%. The Income Credit Base is adjusted to $142,849 or $150,000 x 95.23%. Your new Income Credit is 8% of your new Income Credit Base (8% x $142,849), which equals $11,428. Your new MAWA is your Benefit Base multiplied by your MAWP ($154,277 x 5%), which equals $7,714. Therefore, if you do not take additional excess withdrawals, you may take up to $7,714 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $154,277, then your Protected Income Payment is 4% of the Benefit Base (4%x$154,277=$6,171). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,171 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values,

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Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $7480 |
| 7th | $103000 | $156000 | $100000 | $8000 | $7810 |
| 8th | $103000 | $164000 | $100000 | $8000 | $8140 |
| 9th | $103000 | $172000 | $100000 | $8000 | $8470 |
| 10th | $103000 | $180000 | $100000 | $8000 | $8800 |
| 11th | $103000 | $188000 | $100000 | $8000 | $9130 |
| 12th | $103000 | $200000 | $200000 | N/A\* | $11000 |

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($196,000 = $188,000 + $8,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $8140 |
| 7th | $103000 | $156000 | $100000 | $8000 | $8580 |
| 8th | $103000 | $164000 | $100000 | $8000 | $9020 |
| 9th | $98080 | $169000 | $100000 | $5000 | $9295 |
| 10th | $89630 | $172000 | $100000 | $3000 | $9460 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $164,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $9,020 (5.5% of the $164,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,920 (3% of the $164,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,080 ($103,000 — $4,920). Your Net Income Credit Percentage equals 5% (8% — 3%). Therefore, your new Income Credit is 5% of your Income Credit Base (5% x $100,000), which is $5,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,080) or your Income Credit plus your current Benefit Base ($169,000 = $5,000 + $164,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $8,450 (5% of the $169,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $89,630 ($98,080 — $7, 8450). Your new Income Credit is 3% (8% — 5%) of your Income Credit Base (3% x $100,000), which is $3,000. Your Benefit Base is equal to the greatest of your Account Value ($89,630) or your Income Credit plus your current Benefit Base ($172,000 = $3,000 + $169,000). On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $9,460 (5.5% of the $172,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $9,460 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $172,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $172,000 = $6,880). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,880 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK Examples* 

The five examples below demonstrate the operation of the IncomeLOCK features.

Example 1:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 1st Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On your 1<sup>st</sup> Benefit Anniversary, your Account Value is $105,000

Your initial Benefit Base is equal to 100% of your Eligible Purchase Payments, or $100,000. On your first Benefit Anniversary, your Benefit Base is equal to the greater of your current Benefit Base ($100,000), or your Account Value ($105,000), which is $105,000. Your Maximum Annual Withdrawal Amount if you were to start taking withdrawals following your first Benefit Anniversary is 5% of the Benefit Base (5% x $105,000 = $5,250). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 20 years ($105,000 divided by $5,250). Therefore, as of your 1st Benefit Anniversary, you may take $105,000 in withdrawals of up to $5,250 annually over a minimum of 20 years. However, if the first withdrawal occurs on or after the Benefit Anniversary following the older owner's 65th birthday and no withdrawal ever exceeds 5% of each year's Benefit Base, then all such withdrawals are guaranteed for the lifetime of the older owner and the Minimum Withdrawal Period does not apply unless lifetime withdrawals are terminated.

Example 2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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On your 5th Benefit Anniversary, your Account Value is $120,000, and your Benefit Base is stepped-up to $120,000. If you were to start taking withdrawals after this anniversary date, your Maximum Annual Withdrawal Amount would be 7% of the Benefit Base (7% x $120,000 = $8,400). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 14.28 years ($120,000 divided by $8,400). Therefore, as of your 5th Benefit Anniversary, you may take $120,000 in withdrawals of up to $8,400 annually over a minimum of 14.28 years.

Example 3 – The impact of withdrawals that are less than or equal to the Maximum Annual Withdrawal Amount

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

---

During your 6th Benefit Anniversary, after your 5th Benefit anniversary, you make a withdrawal of $4,500. Because the withdrawal is less than or equal to your Maximum Annual Withdrawal Amount ($8,400), your Benefit Base ($120,000) is reduced by the total dollar amount of the withdrawal ($4,500) on your next Benefit Anniversary. Your new Benefit Base equals $115,500. Your Maximum Annual Withdrawal Amount remains $8,400. Your new Minimum Withdrawal Period following the withdrawal is equal to the new Benefit Base divided by your current Maximum Annual Withdrawal Amount ($115,500 divided by $8,400). Therefore, following this first withdrawal of $4,500, you may take annual withdrawals of up to $8,400 over the next 13 years, and $6,300 in the 14th (last) Benefit Year.

Example 4 — The impact of withdrawals that are in excess of the maximum annual withdrawal amount:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

---

Assume that during your 6th Benefit Year, after your 5th Benefit Anniversary, you make a withdrawal of $11,688 and your Account Value at your next Benefit Anniversary is $118,000. Because the withdrawal is greater than your Maximum Annual Withdrawal Amount ($8,400), this withdrawal includes an excess withdrawal. In this case, the amount of the excess withdrawal is the total amount of the withdrawal less your

------

Maximum Annual Withdrawal Amount ($11,688 - $8,400), or $3,288. On your next Benefit Anniversary, we first process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,400 from the Account Value and the Benefit Base. Your Account Value after this portion of the withdrawal is $109,600 ($118,000 - $8,400). Your Benefit Base after this portion of your withdrawal is $111,600 ($120,000 - $8,400). Next, we recalculate your Benefit Base by taking the lesser of two calculations. For the first calculation, we deduct the amount of the Excess Withdrawal from the Benefit Base ($111,600 - $3,288 = $108,312). For the second calculation, we reduce the Benefit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal. This is accomplished by taking the Benefit Base on the prior Benefit Anniversary ($120,000) less the portion of your withdrawal that

is not the Excess Withdrawal ($8,400) and multiplying this result ($111,600) by 1 minus the Excess Withdrawal ($3,288) divided by the sum of the Account Value on the Benefit Anniversary ($118,000) and the Excess Withdrawal ($3,288) or ($118,000 + $3,288 = $121,288). This calculation equals $108,576 [$111,600 x (1 - $3,288/$121,288) or $111,600 x 97.29%, which equals $108,576]. Your Benefit Base is $108,312, which is the lesser of these two calculations. The Minimum Withdrawal Period following the excess withdrawal is equal to the Minimum Withdrawal Period at the end of the prior year (14.28 years) reduced by one year (13.28 years). Your new Maximum Annual Withdrawal Amount following the excess withdrawal is your Benefit Base divided by your Minimum Withdrawal Period ($108,312 divided by 13.28), which equals $8,156.02.

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**Appendix C — State Contract Variability** 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Prospectus** | **Provision Availability or Variation** | **Issue State** |
| Free Look | Free Look period is 20 days or 30 days if this is a replacement. The Free Look amount is the return of all <br> purchase payments allocated to the contract.<br>| Alaska |
| Free Look | If you are age 65 or older on the Contract issue date, the Free Look period is 30 days. | Arizona |
| Free Look | If you are age 60 or older on the Contract issue date, the Free Look period is 30 days. If you invest in the <br> Fixed Account, the Free Look amount is calculated as the Purchase Payments paid. If you invest in <br> Variable Investment Options, the Free Look amount is calculated as the greater of (1) Purchase <br> Payments or (2) the value of your Contract plus any fees paid on the day we received your request in <br> good order at the Annuity Service Center.<br>| California |
| Free Look | The Free Look period is 21 days and the amount is calculated as the value of your Contract plus fees and <br> charges on the day we receive your request in good order at the Annuity Service Center.<br>| Florida |
| Free Look | The Free Look period is 20 days. | Idaho<br> North Dakota<br> Rhode Island<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the value of your Contract plus fees and charges on the day we <br> received your request in good order at the Annuity Service Center.<br>| Michigan<br> Minnesota<br> Missouri<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the greater of (1) Purchase Payments including fees and charges <br> or (2) the value of your Contract on the day we receive your request in good order at the Annuity Service <br> Center.<br>| Arkansas |
| Free Look | The Free Look period is 20 days. The Free Look amount is the purchase payments made to the fixed <br> interest options and the accumulation value of the variable options on the day the contract is returned. <br> The Free Look period is 60 days for a replacement.<br>| New York |
| DCA Program | If the DCA Program is elected in Alaska, the Multi-Year Option is not available. | Alaska |
| DCA Program | If the DCA Program is elected in Oregon, the minimum required amount is $5,000. | Oregon |
| Death Benefit | Standard Death Benefit is paid on or after age 70 | New York |
| Death Benefit | For Contracts issued on or after March 5, 2012, the interest guaranteed death benefit is available on <br> individual nonqualified Contracts, Roth IRAs or IRAs (issued outside of an employer-sponsored <br> retirement plan) if death occurs prior to age 70; the standard death benefit is payable if death occurs on <br> or after age 70. For Contracts issued in connection with an employer-sponsored retirement plan, only <br> the standard death benefit is payable.<br>| Florida |
| Surrender Charge | For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to <br> withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds <br> withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to <br> Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued <br> on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lessor <br> of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received <br> during the most recent 60 months; or five percent (5%) of the total amount withdrawn.<br>| Oregon |
| Surrender Charge | For ten years from the date the Certificate was issued the charge will be 5% of either (1) the amount <br> withdrawn, or (2) the amount of any Purchase Payments received during the most recent 60 months <br> prior to the surrender or withdrawal, whichever is less. During the eleventh and twelfth Certificate Years, <br> the charge will be the lesser of the charge as described above or 1% of the amount withdrawn.<br>| Texas |
| Premium Tax | We deduct premium tax charges of 0.50% for Qualified Contracts and 2.35% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| California |
| Premium Tax | We deduct premium tax charges of 2.0% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Maine |
| Premium Tax | We deduct premium tax charges of 3.5% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Nevada |
| Premium Tax | For the first $500,000 in the Contract, we deduct premium tax charges of 1.25% for Non-Qualified <br> Contracts based on total Purchase Payments when you begin the Payout Period. For any amount in <br> excess of $500,000 in the Contract, we deduct front-end premium tax charges of 0.08% for Non-<br> Qualified Contracts based on total Purchase Payments when you begin the Payout Period.<br>| South Dakota |
| Premium Tax | We deduct premium tax charges of 1.00% for Qualified Contracts and 1.00% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| West Virginia |
| Premium Tax | We deduct premium tax charges of 1.00% for Non-Qualified contracts based on total Purchase <br> payments when you begin the Payout Period.<br>| Wyoming |

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**Appendix D — Index Information**

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The Contract is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Contract. The Corporations make no representation or warranty, express or implied to the owners of the Contract or any member of the public regarding the advisability of investing in securities generally or in the Contract particularly, or the ability of the Nasdaq 100 to track general stock market performance. The Corporations' only relationship to the Company ("Licensee") is in the licensing of the Nasdaq® and certain trade names of the Corporations and the use of the Nasdaq 100 which is determined, composed, and calculated by Nasdaq without regard to Licensee or the Contract. Nasdaq has no obligation to take the needs of the Licensee or the owners of the Contract into consideration in determining, composing, or calculating the Nasdaq 100. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Contract to be issued or in the determination or calculation of the equation by which the Contract is to be converted into cash. The Corporations have no liability in connection with the administration, marketing, or trading of the Contract.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE CONTRACT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ 100® OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

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The Statement of Additional Information (SAI) contains additional information about the Contract, the Company, and the Separate Account, including financial statements. The SAI is dated the same date as this prospectus, and the SAI is incorporated by reference into this prospectus. To request a free copy of the SAI, request other information about the Contracts, or make investor inquiries, you may contact us by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mailing: Annuity Service Center, P.O. Box 15648, Amarillo, Texas 79105

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calling: 1-800-448-2542

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Visiting: www.corebridgefinancial.com/rs/prospectus-and-reports/annuities

You may also obtain reports and other information about the Separate Account on the SEC's website at www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier: C000242995 (For contracts purchased after December 29, 2006)

EDGAR Contract Identifier: C000242999 (For contracts purchased on or before December 29, 2006)

<sup>©</sup> 2026 Corebridge Financial, Inc. <br>All Rights Reserved.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **Portfolio Director**<sup>®</sup> <br>|
| **Prospectus** |
| **For Series 1.60 to 12.60** |
| **Units of Interest Under Group and Individual Fixed and Variable Deferred Annuity Contracts** |
| Issued By |
| **The Variable Annuity Life Insurance Company** |
| In Connection With |
| **Variable Annuity Life Insurance Company Separate Account A** |

---

May 1, 2026

The Variable Annuity Life Insurance Company ("VALIC") offers certain series of Portfolio Director comprising group and individual fixed and variable deferred annuity contracts for Participants who receive certificates in certain employer-sponsored qualified retirement plans (the "Contracts"). The Contract is available as an individual retirement account (IRA) or as a non-qualified contract. Non-qualified contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan. The Contracts permit Participants to invest in and receive retirement benefits in one or more Fixed Account Options and/or an array of Variable Investment Options described in this prospectus. If your Contract is part of your employer's retirement program, that program will describe which Variable Investment Options are available to you. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, those Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans will not be available within your Contract. Please see ***Appendix A*** of this prospectus for more information about the Variable Investment Options available within this Contract.

Any guarantees under the Contract, including the death benefit, that exceed the value of your interest in the Variable Annuity Life Insurance Company Separate Account A ("Separate Account") are paid from our General Account, which is the Company's account and includes any amounts you allocate to Fixed Account Options including any interest thereon. Therefore, any amounts or obligations that we may pay under the Contract in excess of your interest in the Separate Account are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

**This prospectus provides information employers and Participants should know before investing in the Contracts and will help each make decisions for selecting various investment options and benefits. Please read and retain this prospectus for future reference. The Contract is a complex investment and involves risks that may cause the value of the Contract Owner's investment to fluctuate including potential loss of principal. When the Contract is surrendered, the value may be higher or lower than the Purchase Payments. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties, as applicable.** 

This prospectus describes 12 different Classes of the Contract. There are differences among these Classes with respect to surrender charges, other fees and charges, restrictions, and features. Each Class is offered to certain group plans or through certain markets and certain Classes are no longer available for new sales. We refer to these Classes as "series" in the Contract and in marketing materials. For more information about the series available within this Contract, see *"General Description of the Contracts - About the Series"* below.

The owner of a group Contract (meaning an employer purchasing the Contract for a retirement plan) or the owner of an individual Contract may cancel a newly purchased Contract within 20 days of receiving it without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract value. You should review this prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply. The right of cancellation under this Contract does not apply to Participants in a group plan except in a limited number of states. **VALIC may limit, refuse to accept or cease accepting Purchase Payments in the Contract or in a Fixed Account Option with advance notice. This means that you would no longer be able increase your Contract value, death benefit, or any living benefits through Purchase Payments. See *"Variable Investment Options and Fixed Account Options"* below.** 

**The Securities and Exchange Commission ("SEC") has not approved or disapproved these securities or passed upon the adequacy or accuracy of this Prospectus. Any representation to the contrary is a criminal offense.** 

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at www.Investor.gov.

------

**Table of Contents** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| **[Glossary of Terms](#xx_416d2d1a-b9b7-4730-be55-f5ab26015499_1)** | 3 |
| **[Overview of the Contract](#xx_734abead-85de-4dca-9228-fe51d6bb8232_1)** | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_734abead-85de-4dca-9228-fe51d6bb8232_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_734abead-85de-4dca-9228-fe51d6bb8232_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_734abead-85de-4dca-9228-fe51d6bb8232_2) | 6 |
| **[Key Information](#xx_9233b280-04a4-42e1-b18e-d92b3ea886bf_1)** | 7 |
| **[Fee Table](#xx_454f6dd7-135d-477c-a5ac-1ebfa36a5cf9_1)** | 12 |
| **[Principal Risks of Investing in the Contract](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_1)** | 17 |
| **[Description of Insurance Company, Registered Separate](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_3)**<br> **[Account, and Investment Options](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_3)**<br>| 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Administration of the Contracts](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About VALIC Separate Account A](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Units of Interest](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_3) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [American Home Assurance Company](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_4) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distribution of the Contracts](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_4) | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options and Fixed Account](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_5)<br> [Options](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_5)<br>| 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Variable Investment Options](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_5) | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Voting Rights](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Who May Give Voting Instructions](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Determination of Portfolio Company Shares](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_6)<br> [Attributable to Your Account](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_6)<br>| 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [How Portfolio Company Shares Are Voted](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_6) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Options](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_7) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Fixed Accounts](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_8) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging Program](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_8) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_9) | 25 |
| **[Charges and Adjustments](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_9)** | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Maintenance Charge (Series 1 and 9](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_9)<br> [Contracts Only)](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_9)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_9)<br> [Contracts Only)](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_9)<br>| 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fixed Account Plus Excess Transfer Charge (Series 11](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_10)<br> [Contracts Only)](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_10)<br>| 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium Tax Charge](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_11) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account Charges](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_11) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payments from Portfolio Companies/Platform](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_12)<br> [Charges](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_12)<br>| 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Multi-Year Enhanced Option Adjustment](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Company Expenses](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Living Benefit Fees](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program Fees](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_12) | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Charges](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchange Privilege](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_13) | 29 |
| **[General Description of Contracts](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_13)** | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Contracts](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the General Account](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [About the Series](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_13) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers Among the Investment Options](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_14) | 30 |

---

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Contract Features](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_16) | 32 |
| **[Annuity Period](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_17)** | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Fixed Basis](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_17) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Assumed Investment Rate](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_17) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Variable Basis](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Payments on a Combination of a Fixed and](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_18)<br> [Variable Basis](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_18)<br>| 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Annuitization](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Date](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Options](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_18) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Information](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_19) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Advisory Program Fees on Payout](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_19)<br> [Payments](#xx_f07a9bcb-5577-4134-aeba-8a82aa6190ef_19)<br>| 35 |
| **[Benefits Available Under the Contract](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_1)** | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Advisory Program](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_6) | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Death Benefits](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_8) | 43 |
| **[Purchases and Contract Value](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_10)** | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Account Establishment](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_10) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Your Account Will Be Credited](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_11) | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Purchase Units](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Fixed Account Options](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Calculation of Value for Variable Investment Options](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_12) | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Stopping Purchase Payments](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Principal Underwriter](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Impact of Deduction of Advisory Program Fee on](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13)<br> [Purchase Payments](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13)<br>| 48 |
| **[Surrenders and Withdrawals](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13)** | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When Surrenders Are Allowed](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Process](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_13) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount That May Be Surrendered](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Surrender Restrictions](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrenders](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Systematic Withdrawals](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_14) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distributions Required by Federal Tax Law](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cancellation](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15)[— The](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15)["Free Look" Period](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15) | 50 |
| **[Loans](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15)** | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Interest Charged for a Loan](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15) | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Effects of a Loan on Account Value, Payout](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15)<br> [Payments and the Death Benefit](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_15)<br>| 50 |
| **[Taxes](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_16)** | 51 |
| **[Legal Proceedings](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_24)** | 59 |
| **[Financial Statements](#xx_4e4ba224-bdbd-4eb5-bdf8-2da5c3d91911_24)** | 59 |
| **[Appendix A — Investment Options Available Under the](#xx_3bcddebf-6cc2-4ef0-b70d-a40a64d1c61f_1)**<br> **[Contract](#xx_3bcddebf-6cc2-4ef0-b70d-a40a64d1c61f_1)**<br>| 0-1 |
| **[Appendix](#xx_1cc2175e-4b61-4d19-9837-772d1a9f194e_1)[B — Living Benefits](#xx_1cc2175e-4b61-4d19-9837-772d1a9f194e_1)** | B-1 |
| **[Appendix](#xx_ca0c65ee-bf35-42a6-856a-dd2b42d0a8a4_1)[C — State Contract Variability](#xx_ca0c65ee-bf35-42a6-856a-dd2b42d0a8a4_1)** | C-1 |
| **[Appendix](#xx_fc205956-b7b1-44ab-9d91-aa7f49a0af65_1)[D — Index Information](#xx_fc205956-b7b1-44ab-9d91-aa7f49a0af65_1)** | D-1 |

---

------

**Glossary of Terms**

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Unless otherwise specified in this prospectus, the words "we," "us," "our," "Company," and "VALIC" mean The Variable Annuity Life Insurance Company and the words "you" and "your" mean the Participant, or the individual purchasing an individual Contract.

Other specific terms we use in this prospectus are:

**Account Value** — the total sum of your Fixed Account Option(s) and/or Variable Investment Option(s) that have not yet been applied to your annuity payments.

**Advisory Program** — the investment advice service provided by your Investment Adviser. Guided Portfolio Advantage<sup>SM</sup> / Guided Portfolio Services<sup>®</sup> are the financial advice services offered by our affiliate, VFA, a registered investment adviser and an affiliate of VALIC. A separate investment advisory fee and agreement are required for either of these services, if available under an employer's retirement plan. Alternatively, you may have enrolled in an Advisory Program offered by a third-party investment adviser who is not affiliated with us. There may also be an advisory fee required by that adviser. You should ask your investment adviser about any fees charged for investment advice provided. *For new investors, we no longer honor investment adviser transfer requests in connection with Advisory Programs that are offered through third-party Investment Advisers.*

**Annuitant** — the individual (in most cases, you) to whom Payout Payments will be paid.

**Annuity Service Center** — Retirement Services Center, P.O. Box 15648, Amarillo, Texas 79105.

**Assumed Investment Rate** — the rate used to determine your first monthly payout payment per thousand dollars of account value in your Variable Investment Option.

**Beneficiary** — the individual designated to receive the death benefit or Payout Payments upon the death of the Annuitant.

**Business Day** — any weekday that the New York Stock Exchange ("NYSE") is open for trading. Normally, the NYSE is open Monday through Friday, from 9:30 a.m. to 4:00 p.m. Eastern Time. Business Days do not include U.S. holidays or other days when the NYSE is closed.

**Code** — the Internal Revenue Code of 1986, as amended.

**Contract Owner** — the individual or entity to whom the Contract is issued. For a group Contract, the Contract Owner will be the employer purchasing the Contract for a retirement plan.

**Division** — the portion of the Separate Account invested in a particular Portfolio Company. Each Division is a subaccount of VALIC Separate Account A.

**Fixed Account Option** — an account, where available, in which you may invest and is guaranteed to earn at least a minimum rate of interest while invested and an obligation of VALIC's General Account.

**Home Office** — located at 2919 Allen Parkway, Houston, Texas 77019.

**Investment Adviser** — the investment adviser that you have engaged to provide services as part of an Advisory Program. The Investment Adviser may have been engaged through a third party. For new investors, we only support Advisory Programs that are offered through VFA. There are typically advisory fees associated with an Advisory Program. Those fees are separate from the Contract's fees and charges.

VALIC is not an investment adviser to any Advisory Program and does not provide any advice under an Advisory Program.

**Living Benefit** — an optional guaranteed minimum withdrawal benefit designed to help you create a guaranteed income stream for a specified period of time or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if your entire Account Value has been reduced to zero. IncomeLOCK<sup>®</sup> +6, IncomeLOCK<sup>®</sup> +8 (together, "IncomeLOCK Plus") and IncomeLOCK<sup>®</sup> are no longer available for purchase. *See "Appendix B – Living Benefits" for information on these Living Benefits*.

**Market Close** — the close of regular trading on the NYSE, generally 4:00 p.m., Eastern Time, on each day the NYSE is open for business.

**Net Purchase Payments** — the total sum of Purchase Payments minus withdrawals and charges.

**Participant** — the individual (in most cases, you) who makes purchase payments or for whom purchase payments are made.

**Participant Year** — a 12-month period starting with the issue date of a Participant's Contract certificate and each anniversary of that date.

**Payout Payments** — annuity payments withdrawn in a steady stream during the Payout Period.

**Payout Period** — the time when you begin to withdraw your money in Payout Payments. It may also be called the "Annuity Period."

**Payout Unit** — a measuring unit used to calculate Payout Payments from your Variable Investment Option. Payout Units measure value, which is calculated just like the Purchase Unit value for each Variable Investment Option except that the initial Payout Unit includes a factor for the Assumed Investment Rate selected. Payout Unit values will vary with the investment experience of the VALIC Separate Account A Division.

**Platform Charge** — a fee we charge in order to make certain underlying Portfolio Companies available as an investment option under the Contract.

**Portfolio Company** — the investment portfolio(s) of a registered open-end management investment company, which serves as

------

the underlying investment vehicle for each Division represented in VALIC Separate Account A. Also referred to as Mutual Fund or Fund.

**Proof of Death** — a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death, a written statement by an attending physician, or any other proof satisfactory to VALIC.

**Purchase Payments** — an amount of money you or your employer pay to VALIC to receive the benefits of a Contract.

**Purchase Period** — the accumulation period or time between your first Purchase Payment and the beginning of your Payout Period (or surrender). It also may be called the "Accumulation Period."

**Purchase Unit** — a unit of interest owned by you in your Variable Investment Option.

**Statement of Additional Information or SAI** — a supplementary document that provides additional information about your Contract. This document is not part of the prospectus and should be read only in conjunction with the prospectus for your Contract.

**Systematic Withdrawals** — payments withdrawn on a regular basis during the Purchase Period.

**VALIC Separate Account A or Separate Account** — a segregated asset account established by VALIC under the Texas Insurance Code. The purpose of the VALIC Separate Account A is to receive and invest your Purchase Payments and Account Value in the Variable Investment Option, if selected.

**Variable Investment Option** — investment options that correspond to Separate Account Divisions available under the Contracts.

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**Overview of the Contract** 

------

**Purpose of the Contract** 

The Contract is designed to help you invest on a tax-deferred basis, meet long-term financial goals, and plan for your retirement. You can accumulate assets by investing in the Contract's Investment Options and then later convert those accumulated assets into a stream of guaranteed income payments from us. The Contract includes a death benefit that may help financially protect your Beneficiary or Beneficiaries in the event of your death. The optional Living Benefits under the Contract are designed to help you achieve your financial goals and protect against certain financial risks, although the optional Living Benefits are no longer available for purchase.

This Contract may be appropriate for you if you have a long investment time horizon and the Contract's terms and conditions are consistent with your financial goals. It is not intended for people whose liquidity needs require early or frequent withdrawals or for people who intend to frequently trade in the Contract's Investment Options.

The Contract is primarily used in connection with employer-sponsored qualified retirement plans, for which the employer is the Contract owner and participating employees receive certificates related to the Contract, and IRAs. Nonqualified Contracts are also available for certain employer plans as well as for certain after-tax arrangements that are not part of an employer's plan.

If you are enrolled in an Advisory Program, Advisory Program fees deducted from your Contract may reduce the death benefit, optional living benefit and any annuity benefits, and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Advisory Program** in the "*Benefits Available Under the Contract*" section later in this prospectus.

**Phases of the Contract** 

Like all deferred annuities, the Contract has two phases: (1) a Purchase Period (for savings) and (2) a Payout Period (for income).

**Purchase Period.** During the Purchase Period, you invest your money under the Contract in one or more available Investment Options to help you build assets on a tax-deferred basis. The available Investment Options may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Variable Investment Options.** When you invest in a Variable Investment Option, you are indirectly investing in the Variable Investment Option's underlying Portfolio Company. The Portfolio Companies have different investment objectives, strategies, and risks. You can gain or lose money if you invest in a Variable Investment Option. <br>**Additional information about each Portfolio Company is provided in an appendix to this prospectus. Please see APPENDIX A – INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fixed Account Options.** When you invest in a Fixed Account Option (Fixed Account Plus, Short-Term Fixed Account, Multi-Year Enhanced Option, or a DCA Fixed Account), your principal is guaranteed and earns interest based on a rate set and guaranteed by us. However, if you make an early withdrawal or transfer from a Multi-Year Enhanced Option, the withdrawal or transfer may be subject to a market value adjustment that may reduce the value of your investment.

The amount of money you accumulate during the Purchase Period depends (in part) on the performance of the Investment Options you choose. You may transfer money between Investment Options during the Purchase Period, subject to certain restrictions. Your accumulated assets impact the value of your benefits during the Purchase Period, including the death benefit and any optional Living Benefit, as well as the amount available for withdrawal.

**Payout Period.** When you are ready to receive guaranteed income under the Contract, you can switch to the Payout Period, at which time you will start to receive Payout Payments from us. This is also referred to as "annuitizing" the Contract. You generally decide when to annuitize. You can choose from the available payout options, which may provide income for life, for a guaranteed period of time, or a combination of both. You can also choose to receive Payout Payments on a variable or fixed basis, or a combination of both. If the Payout Payments are made on a fixed basis, the dollar amount of each payment will be the same. If the Payout Payments are made on a variable basis, the dollar amount for the payments will fluctuate.

The death benefit from the Purchase Period does not apply during the Payout Period. Any amount payable upon death during the Payout Period depends on the payout option selected. You cannot take withdrawals of Account Value or surrender the Contract during the Payout Period. If you have an optional Living Benefit at the time of annuitization, you may choose to take Payout Payments in accordance with that Living Benefit. Otherwise, your optional Living Benefit terminates at the beginning of the Payout Period.

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**Contract Features** 

**Contract Series.** This prospectus describes 12 different Classes of the Contract, which we call series. There are differences among the series with respect to surrender charges, other fees and charges, restrictions, and features. Each series is offered to certain group plans or through certain markets. Certain series are no longer available for new sales.

**Retirement Plan Terms and Conditions.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. However, it is also offered as an IRA or a non-qualified contract. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law, which may limit your ability to take certain actions under the Contract.

**Accessing Your Money.** You may withdraw money from the Contract at any time during the Purchase Period. If you make a withdrawal, you may have to pay a surrender charge and/or federal and state income taxes, including a tax penalty if you are younger than age 59½. Withdrawals may negatively impact the value of your benefits under the Contract and may cause an optional Living Benefit to terminate.

**Tax Treatment.** Money can be transferred between Investment Options without tax implications, and earnings (if any) on your investments are generally tax-deferred. Earnings and untaxed contributions are not taxed until they are distributed, which may occur when making a withdrawal, upon receiving a Payout Payment, or upon payment of the death benefit. You do not receive any additional tax benefit under the Contract if you participate in the Contract through a tax-qualified plan or you purchase the Contract through an IRA.

**Death Benefit.** If you die during the Purchase Period, we pay a death benefit to your Beneficiary or Beneficiaries. The Contract has two possible death benefits (interest guaranteed death benefit and standard death benefit), both of which are automatically included in the Contract for no additional fee.

**Optional Living Benefits.** Each optional Living Benefit is a guaranteed minimum withdrawal benefit that is designed to help you create a guaranteed income stream, provided that withdrawals are taken within the parameters of the applicable feature. The optional Living Benefits under the Contract are no longer available for purchase.

**Additional Features and Services.** Additional features and services under the Contract are summarized below. There are no additional charges associated with these features and services unless otherwise noted. Not all features and services may be available under your Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **No Charge Systematic Withdrawals.** This program allows you to automatically receive withdrawals on a regular basis during the Purchase Period without surrender charges, subject to certain requirements related to the duration and amount of the automatic withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Loans.** Tax-free loans may be taken under tax-qualified Contracts (other than IRAs), providing additional access to your money in the Fixed Account Options (excluding Multi-Year Enhanced Options). You will incur interest on an outstanding loan. Loans are subject to restrictions, including a $1,000 minimum loan amount. You may not be able to take a loan under your Contract. We charge up to $75 for a loan application fee for each loan if permissible by your state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Guided Portfolio Advantage**<sup>SM</sup> **("GPA")/Guided Portfolio Services**<sup>®</sup> **("GPS").** GPA and GPS are advisory services offered by VFA to help manage your Account Value. A separate investment advisory fee and agreement is required for these services, if available under an employer's retirement plan. More information about GPA and GPS may be requested by contacting VFA at 866-544-4968 and is also available free of charge on our website at www.corebridgefinancail.com/rs/prospectus-and-reports/vfa-form-adv-materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **American Home Guarantee.** If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Dollar Cost Averaging (DCA) Program.** The DCA program is a systematic transfer of a specified percentage from the DCA Fixed Account to one or more eligible investment options over a specified period of time. Automatic transfers do not count towards the number of free transfers per contract year. DCA may not be available in employer sponsored plans.

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**Key Information**

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**Important Information You Should Consider About the Contract** 

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| | | |
|:---|:---|:---|
|  | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in** <br>**Prospectus**<br>|
| **Are There Charges for** <br> **Early Withdrawals?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. Your Contract may be subject to surrender charges depending on the <br> series of Contract:<br>•**Series 1, 3, 4, 5, 7, 8, 9, and 10**. If you withdraw money under the <br> Contract within five years of making a Purchase Payment, you will be <br> assessed a surrender charge of up to 5%, either as a percentage of the <br> amount withdrawn or as a percentage of Purchase Payments made during <br> the last five years, whichever is less.<br>•**Series 2, 6, 11, and 12**. No surrender charge.<br> For example, if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract and make <br> an early withdrawal, you could pay a surrender charge of up to $5,000 on a <br> $100,000 investment and such surrender charge may be greater if subject to <br> taxes or tax penalities. No surrender charges would apply to a series 2, 6, 11, <br> or 12 Contract.<br> You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option). | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments –** <br> **Surrender Charge**<br>|
| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp;&nbsp; **Yes**. In addition to surrender charges (if applicable), you may also be <br> charged for other transactions.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•In certain states, you may be subject to a loan application fee and loan <br> interest if you request a loan under the Contract.<br>•Under a series 11 contract, if you transfer amounts from the Fixed Account <br> Plus option to another Investment Option under the Contract (or another <br> funding entity) in excess of the annual limit, you may be subject to a <br> charge of 5% on the excess amount transferred.<br>•There may also be taxes on Purchase Payments. | &nbsp;&nbsp; **Fee Table**<br>**Charges and** <br> **Adjustments**<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Yes**. The table below describes the fees and expenses that you may pay *each* <br> *year*, depending on the Investment Options and optional benefits you choose. <br> Please refer to your Contract specifications page for information about the <br> specific fees you will pay each year based on the options you have elected. <br> The fees and expenses do not reflect any advisory fees paid to an investment <br> adviser from the Contract or other Contract owner assets. If such charges <br> were reflected, the fees and expenses would be higher. Interest on Contract <br> loans is not reflected below. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Annual Fee** | **Minimum** | **Maximum** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Base Contract<sup>1</sup> <br>(varies by Contract Class)<br>| 0.40% | 0.41% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Portfolio Company fees and <br> expenses<sup>2</sup> <br>| 0.20% | 1.18% | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Optional Benefits available for an <br> additional charge (for a single <br> optional benefit, if elected)<br>| 0.65%<sup>3</sup> | 3.10%<sup>4</sup> | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; <sup>1</sup> As a percentage of average daily net asset value allocated to a Variable <br> Investment Option, plus for the Maximum charge, an amount attributable to <br> the annual variable investment option maintenance charge, which is <br> applicable to series 1 and 9 only.<br> <sup>2</sup> As a percentage of Portfolio Company net assets, plus any applicable <br> amounts deemed to be Platform Charge.<br> <sup>3</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the minimum charge for the least expensive <br> (Minimum) Living Benefit.<br> <sup>4</sup> As a percentage of the benefit base used to calculate the guaranteed <br> benefit. This represents the maximum charge for most expensive (Maximum) <br> Living Benefit, for which the current charge may fluctuate quarterly based on <br> market volatility based on the Living Benefit effective date. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; Because your Contract is customizable, the choices you make affect how <br> much you will pay. To help you understand the cost of owning your Contract, <br> the following table shows the lowest and highest cost you could pay *each* <br> *year*, based on current charges. This estimate assumes that you do not take <br> withdrawals from the Contract, **which could add surrender charges that** <br> **substantially increase costs**. | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | **Lowest Annual Cost: $613** | **Highest Annual Cost: $4,702** | **Highest Annual Cost: $4,702** | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |
| **Are There Ongoing** <br> **Fees and Expenses?** | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Least expensive combination of <br> Contract Classes and Portfolio <br> Company fees and expenses<br> •No optional benefits<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals<br>| &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp;&nbsp; Assumes:<br> •Investment of $100,000<br> •5% annual appreciation<br> •Most expensive combination of <br> Contract Classes, optional <br> benefits, and Portfolio Company <br> fees and expenses<br> •No sales charge or advisory fee<br> •No loans, additional Purchase <br> Payments, transfers, or <br> withdrawals | &nbsp;&nbsp; **Charges and** <br> **Adjustments** |

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|:---|:---|:---|
|  | **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Is There a Risk of Loss** <br> **from Poor** <br> **Performance?**<br>| &nbsp;&nbsp; **Yes**. You can lose money by investing in this Contract, including your <br> principal investment. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **Is this a Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp;&nbsp; •**No**. This Contract is not a short-term investment and is not appropriate for <br> an investor who needs ready access to cash. Amounts withdrawn from <br> series 1, 3, 4, 5, 7, 8, 9, or 10 Contract may result in surrender charges, <br> taxes and tax penalties. Surrender charges could significantly reduce the <br> amount that you receive upon taking a withdrawal. Withdrawals may also <br> reduce or terminate Contract guarantees and may result in taxes and tax <br> penalties.<br>•If you select the Fixed Account Plus option for investment, your ability to <br> transfer amounts from that option is subject to an annual limit. It may take <br> several years to transfer all amounts from the Fixed Account Plus option. <br> Under a series 11 Contract, if you transfer amounts from the Fixed Account <br> Plus option in excess of that annual limit (including withdrawals from the <br> Fixed Account Plus option for the purpose of transferring assets to another <br> funding entity), you may be subject to a charge.<br>•You may be subject to a market value adjustment if you make an early <br> withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed <br> Account Option).<br>•The benefits of tax deferral, long-term income, and optional Living Benefit <br> guarantees mean the Contract is generally more beneficial to investors with <br> a long investment time horizon. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Associated with the** <br> **Investment Options?**<br>| &nbsp;&nbsp;&nbsp; •An investment in this Contract is subject to the risk of poor investment <br> performance and can vary depending on the performance of the <br> Investment Options available under the Contract.<br>•Each Variable Investment Option and each Fixed Account Option has its <br> own unique risks.<br>•You should review the Variable Investment Options and Fixed Account <br> Options before making an investment decision. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |
| **What Are the Risks** <br> **Related to the** <br> **Insurance Company?**<br>| &nbsp;&nbsp; An investment in the Contract is subject to the risks related to us, VALIC. Any <br> obligations (including under any Fixed Account Options), guarantees, and <br> benefits of the Contract are subject to the claims-paying ability of VALIC. If <br> we experience financial distress, we may not be able to meet our obligations <br> to you. More information about us, including our financial strength ratings, is <br> available upon request by calling 1-800-448-2542 or visiting <br> www.corebridgefinancial.com/rs. | &nbsp;&nbsp; **Principal Risks of** <br> **Investing in the** <br> **Contract** |

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|:---|:---|:---|
|  | **RESTRICTIONS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Restrictions** <br> **on the Investment** <br> **Options?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. There are restrictions that may limit the Variable Investment Options <br> and Fixed Account Options that you may choose as well as limitations on <br> the transfer of the contract value among the Variable Investment Options <br> and Fixed Account Options. Certain Investment Options may not be <br> available under your Contract. Some in-plan deferred compensation plans <br> may restrict investment in Public Funds. If your Contract is a tax-deferred <br> nonqualified annuity that is not part of your employer's retirement plan, <br> Variable Investment Options investing in a Public Fund will not be available <br> to you.<br>•You may transfer funds between the Investment Options, subject to certain <br> restrictions.<br>•Transfers between the Investment Options, as well as certain purchases <br> and redemptions, are subject to policies designed to deter market timing <br> and frequent transfers.<br>•Transfers to and from the Fixed Account Options are subject to special <br> restrictions.<br>•Early withdrawals and transfers from a Multi-Year Enhanced Option may be <br> subject to negative adjustments.<br>•We reserve the right to remove or substitute Portfolio Companies as <br> Investment Options and also reserve the right to stop accepting additional <br> Purchase Payments.<br>•If you are enrolled in an Advisory Program, you are personally prohibited <br> from making transfers among Investment Options in the Contract. During <br> such period, transfer instructions may only be provided by the Investment <br> Adviser. If you terminate the Advisory Program, you may make transfers <br> among the Investment Options subject to certain restrictions. | &nbsp;&nbsp; **Variable Investment** <br> **Options and Fixed** <br> **Account Options**<br>**Transfers Between** <br> **Investment Options**<br>|
| **Are There any** <br> **Restrictions on** <br> **Contract Benefits?**<br>| &nbsp;&nbsp;&nbsp; •**Yes**. Additional restrictions and limitations apply under the Contract's <br> optional Living Benefits, which are no longer available for purchase.<br>•If you elected an optional Living Benefit, not all Investment Options may be <br> available and you must invest in accordance with any applicable <br> investment restrictions.<br>•We may modify the investment restrictions for an optional Living Benefit.<br> •Withdrawals that exceed limits specified by the terms of an optional Living <br> Benefit may affect the availability of the benefit by reducing the benefit by <br> an amount greater than the value withdrawn and could terminate the <br> benefit.<br>•If you are participating in an Advisory Program and your Investment <br> Adviser's fees are deducted from your Contract, the deduction of those <br> fees may reduce the optional living benefit, death benefit and any other <br> guaranteed benefit, and may be subject to surrender charges, federal and <br> state income taxes and a 10% federal penalty tax. | &nbsp;&nbsp; **Appendix B – Living** <br> **Benefits**<br>**Advisory Program**<br>**Taxes**<br>|
|  | **TAXES** |  |
| **What Are the Contract's** <br> **Tax Implications?**<br>| &nbsp;&nbsp;&nbsp; •You should consult with a tax professional to determine the tax <br> implications of an investment in and payments received under the <br> Contract.<br>•If you purchase the Contract through a tax-qualified plan or an IRA, there is <br> no additional tax benefit under the Contract.<br>•Withdrawals, including withdrawals to pay your Investment Adviser's fees, <br> may be subject to ordinary income tax and may be subject to tax penalties, <br> including if you take a withdrawal before age 59½. | **Taxes** |

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|  | **CONFLICTS OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How Are Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; Your investment professional may receive compensation for selling this <br> Contract to you in the form of commissions, additional cash compensation, <br> and non-cash compensation. We may share the revenue we earn on this <br> Contract with your investment professional's firm, which may be our affiliate <br> VFA. This conflict of interest may influence your investment professional to <br> recommend this Contract over another investment for which the investment <br> professional is not compensated or compensated less.<br> You may determine to engage an Investment Adviser to provide investment <br> advice to you for the Contract. Your Investment Adviser will charge an <br> Advisory Program Fee. We do not set the Advisory Program Fee. While <br> VALIC may deduct the Advisory Program Fee from your Account Value based <br> on instructions from your Investment Adviser, we do not retain any portion of <br> these fees. If VFA is the Investment Adviser of your Advisory Program, <br> VALIC, as the parent company of VFA will indirectly benefit from VFA's receipt <br> of Advisory Program Fees.<br> In addition, VFA's investment professionals and their managers are eligible <br> for benefits from us or our affiliates, such as non-cash compensation items.<br> As a result of one or more of these conflicts of interest, your investment <br> professional may have a financial incentive to offer or recommend this <br> Contract over another investment. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |
| **Should I Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; Some investment professionals may have a financial incentive to offer you a <br> new contract in place of the one you already own. You should only exchange <br> a contract you already own if you determine, after comparing the features, <br> fees, and risks of both contracts, and any fees or penalties to terminate the <br> existing contract, that it is preferable for you to purchase the new contract <br> rather than continue to own your existing contract. | &nbsp;&nbsp; **Description of** <br> **Insurance Company,** <br> **Registered Separate** <br> **Account, and** <br> **Investment Options**<br>**Advisory Program** |

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**Fee Table**

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**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from an Investment Option or from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. The fees and expenses below do not reflect any advisory fees paid to your Investment Adviser from Contract or other assets. If such charges were reflected, the fees and expenses would be higher.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender, or make withdrawals from an Investment Option or from the Contract, or transfer Contract value between Investment Options. State premium taxes may also be deducted.**

***<u>Transaction Expenses</u>*** 

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| | |
|:---|:---|
| **Deferred Sales Load (or Surrender Charge) (as a percentage of purchase payments or amount surrendered, as** <br> **applicable)**<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1, 3, 4, 5, 7, 8, 9, and 10 | 5.00%<sup>(1)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Series 2, 6, 11, and 12 |  |
| **Maximum Loan Application Fee (per loan)** | $75 |
| **Transfer Fee** |  |
| &nbsp;&nbsp;&nbsp; Series 11 | 5.00%<sup>(2)</sup> <br>|
| &nbsp;&nbsp;&nbsp; Other Series |  |

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**Footnotes to Transaction Expenses** 

(1) The maximum surrender charge is the lesser of 5% of the amount withdrawn or 5% of the Purchase Payments received within the past 60 months. If no Purchase Payments are received within the past 60 months, the surrender charge will be zero. Reductions in and exceptions to the surrender charge are available if certain conditions are met. See *Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* and *Exceptions to Surrender Charge* under **Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only** in the "*Charges and Adjustments*" section.

(2) For all series, transfers from the Fixed Account Plus option are limited to 20% per Participant Year. Transfers in excess of this limitation will not be permitted except under series 11 Contracts. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation. See **Fixed Account Plus Transfer Charge (Series 11 Contracts Only)** in the "*Charges and Adjustments*" section.

**The next tables describe the fees and expenses that you will pay *each year* during the time that you own the Contract (not including Portfolio Company fees and expenses). If you have chosen to purchase an optional benefit, you pay additional charges, as shown below.** 

***<u>Annual Contract Expenses</u>*** 

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|:---|:---|
| **Administrative Expenses**<br> (also referred to as a Maintenance Charge)<br>|  |
| &nbsp;&nbsp;&nbsp; Series 1 and 9 | $15 |
| &nbsp;&nbsp;&nbsp; Series 2, 3, 4, 5, 6, 7, 8, 10, 11, and 12 |  |

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|:---|:---|:---|
| **Annual Fees** | **Current** | **Maximum** |
| **Base Contract Expenses**<sup>(1)</sup> <br>(as a percentage of average account value or Contract value)<br>| 0.40% | 0.41% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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|:---|:---|:---|
| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 | For Contracts Purchased on or after February 25, 2013 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 | For Contracts Purchased December 26, 2012 through February 24, 2013 |

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|:---|:---|:---|
| **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** | **Optional Benefit Expenses (as a percentage of benefit base or other (e.g., average account value)** |
| **IncomeLOCK Plus Fee (IncomeLOCK +6 or IncomeLOCK +8)**<br> **(as a percentage of the benefit base or other (e.g., average account value)**<sup>(2)</sup><br>| &nbsp;&nbsp; **Initial Annual**<br> **Fee Rate**<br>| &nbsp;&nbsp; **Maximum Annual**<br> **Fee Rate**<sup>(3)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |
| For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 | For Contracts Purchased May 1, 2012 through December 25, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.30% | 2.60% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.55% | 3.10% |
| For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 | For Contracts Purchased Prior to May 1, 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp; For One Covered Person | 1.10% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp; For Two Covered Persons | 1.35% | 2.70% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **Maximum Annual Fee Rate**<sup>(4)</sup> |
| **IncomeLOCK Fee**<br> (as a percentage of the Benefit Base) | **1.15%** |
| **Loan Interest Charges**<br> (as a percentage of average daily value allocated to the Fixed Account Option(s))<br>| **Current Annual Fee Rate** |
| Non-ERISA Contracts<sup>(5)</sup> | 3.00 – 6.00%<sup>(7)</sup> |
| ERISA Contracts<sup>(6)</sup> | 5.50%<sup>(8)</sup> |

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**Footnotes to Annual Contract Expenses**

<sup>(</sup><sup>1</sup><sup>)</sup> Also referred to as "Separate Account Charges." Reductions in the Separate Account Charges may be available for plan types meeting certain criteria. See "Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges." The Base Contract Expenses do not reflect any applicable Platform Charges that may apply. To help you understand the cost of investing in certain Variable Investment Options, Platform Charges are reflected under "Annual Portfolio Company Expenses" in this section and in "Appendix A – Investment Options Available Under the Contract." If Platform Charges were included in this table, current charges for certain (but not all) Variable Investment Options would be as high as 0.65%. For additional information, see **Separate Account Charges** in the "*Charges and Adjustments*" section.

<sup>(</sup><sup>2</sup><sup>)</sup> The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. For a complete description of how the Benefit Base is calculated, see "Appendix B – Living Benefits."

<sup>(</sup><sup>3</sup><sup>)</sup> The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your fee rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the VIX. If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the VIX used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. For the formula to calculate the fee, see "Appendix B – Living Benefits."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| Number of Covered Persons | &nbsp;&nbsp; Minimum Annual<br> Fee Rate<br>| &nbsp;&nbsp; Maximum Annualized Fee Rate<br> Decrease or Increase\*<br>|
| One Covered Person | 0.60% | +/-0.25% |
| Two Covered Persons | 0.60% | +/-0.25% |

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\* The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

<sup>(</sup><sup>4</sup><sup>)</sup> If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%. See "Appendix B – Living Benefits."

<sup>(5)</sup> Contracts issued as part of a retirement plan that is not subject to The Employment Retirement Income Security Act of 1974 (ERISA) including 457 Plans and retirement plans administered by government entities and churches.

<sup>(6)</sup> Contracts issued as part of an employer-sponsored retirement plan subject to ERISA including 401(k) and certain 403(b) defined contribution plans.

<sup>(7)</sup> The Non-ERISA Loan Interest Charges will vary based on the Guaranteed Minimum Interest Rate (GMIR) on your contract. Please refer to your contract for your GMIR.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(8)</sup> The ERISA Loan Interest Charges are variable rates based upon an index prescribed under applicable state insurance rules for policy loans. Loan Interest Charges for an existing loan will not increase, but may decrease, during the term of the loan.

***<u>Annual Portfolio Company Expenses</u>*** 

**The next table shows the minimum and maximum total operating expenses charged by the Portfolio Companies that you may pay periodically during the time that you own the Contract. Expenses shown may change over time and may be higher or lower in the future. These amounts also include applicable Platform Charges if you choose to invest in certain Portfolio Companies. A complete list of Portfolio Companies available under the Contract, including their annual expenses, may be found at the back of this document.** 

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| | | |
|:---|:---|:---|
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | **Minimum**<sup>(1)</sup> | **Maximum**<sup>(2)</sup> |
| **Annual Portfolio Company Expenses**<br> (expenses that are deducted from Portfolio Company assets, including management fees, <br> distribution and/or service (12b-1) fees (if applicable), and other expenses) | 0.20% | 1.18% |

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**Footnotes to Annual Portfolio Company Expenses** 

<sup>(</sup><sup>1</sup><sup>)</sup> The Portfolio Company with the lowest total annual fund operating expenses are the Vanguard Long-Term Treasury Fund.

<sup>(</sup><sup>2</sup><sup>)</sup> The Portfolio Company with the highest total annual fund operating expenses is the American Beacon Man Large Cap Growth Fund.

***Examples***

**These Examples are intended to help you compare the cost of investing in the Variable Investment Options with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, annual Contract expenses, and annual Portfolio Company expenses. The Examples do not reflect any advisory fees paid to your Investment Adviser from the Contract or other assets. If these fees and charges were reflected, the costs would be higher. Your actual costs may be higher or lower than the examples below.** 

**The Examples assume all Contract value is allocated to the Variable Investment Options. Your costs could differ from those shown below if you invest in Fixed Account Options.**

**The Examples assume that you invest $100,000 in the Variable Investment Options for the time periods indicated. The Examples also assume that your investment has a 5% return each year and assume the most expensive combination of annual Portfolio Company expenses and optional benefits available for an additional charge. Your actual costs may be higher or lower.**

**The first set of examples assumes the most expensive combination of annual Contract expenses, annual Portfolio Company expenses, and optional benefits available for an additional charge. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9216 | $18691 | $28223 | $47671 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $9202 | $18651 | $28161 | $47557 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4687 | $14108 | $23588 | $47557 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4702 | $14149 | $23654 | $47671 |

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| | | | |
|:---|:---|:---|:---|
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4687 | $14108 | $23588 | $47557 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $4687 | $14108 | $23588 | $47557 |

---

**The second set of examples assumes the most expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

---

| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6275 | $10016 | $13686 | $18971 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $6261 | $9974 | $13614 | $18834 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1607 | $4991 | $8614 | $18834 |

---

(2) If you annuitize your Contract or you do *not* surrender your Contract:

---

| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1622 | $5035 | $8686 | $18971 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1607 | $4991 | $8614 | $18834 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $1607 | $4991 | $8614 | $18834 |

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**The third set of examples assumes the least expensive combination of annual Contract expenses and annual Portfolio Company expenses, with no optional benefits. Based on these assumptions, your costs would be:** 

(1) If you surrender your Contract at the end of the applicable time period:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $5325 | $6968 | $8428 | $7679 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |

---

------

---

| | | | |
|:---|:---|:---|:---|
| $5311 | $6924 | $8354 | $7534 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $613 | $1924 | $3354 | $7534 |

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(2) If you annuitize your Contract or you do *not* surrender your Contract:

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| | | | |
|:---|:---|:---|:---|
| **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** | **Series 1 and 9** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $628 | $1968 | $3428 | $7679 |
| **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** | **Series 3, 4, 5, 7, 8, and 10** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $613 | $1924 | $3354 | $7534 |
| **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** | **Series 2, 6, 11, and 12** |
| **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| $613 | $1924 | $3354 | $7534 |

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**Principal Risks of Investing in the Contract**

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**Market Risk.** Variable annuities involve risks, including possible loss of principal. Your losses could be significant. Amounts that you invest in the Variable Investment Options are subject to the risk of poor investment performance. You assume the investment risk. Generally, if the Variable Investment Options that you select make money, your Account Value goes up, and if they lose money, your Account Value goes down. Each Variable Investment Option's performance depends on the performance of its underlying Portfolio Company. Each Portfolio Company has its own investment risks, and you are exposed to the Portfolio Company's investment risks when you invest in a Variable Investment Option. You are responsible for selecting Variable Investment Options that are appropriate for you based on your own individual circumstances, investment goals, financial situation, and risk tolerance. This Contract is not a deposit or obligation of, or guaranteed or endorsed by, any bank. This Contract is not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency.

**Early Withdrawal Risk.** The Contracts are unsuitable for short-term savings. You should carefully consider the risks associated with withdrawals under the Contract. A withdrawal may reduce the value of your standard and optional benefits such as the death benefit or other guaranteed benefits. If you take a loan from your account, the amount of this loan and interest accrued therein may also reduce the value of these standard and optional benefits while the loan is in the process of being paid off, if the loan is never paid off, if you default on the loan, and the fact that your interest payments can never be recovered and, therefore, indirectly lower the contract value based on the loan you took against it. The reductions may be more than the amount withdrawn. Withdrawals may be subject to significant surrender charges if you own a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract. In addition, if you own a series 11 Contract, excess transfers from the Fixed Account Plus option (including withdrawals from the Fixed Account Plus option for the purpose of transferring assets to another funding entity) may be subject to a charge. If you make a withdrawal prior to age 59½, there may be adverse tax consequences, including a 10% federal tax penalty.

**Contract Benefits Risk.** If you elected an optional benefit, there is a risk that you may not have chosen the benefit or benefits (if any) that are best suited for you based on your present or future needs and circumstances, and the benefits that are more suited for you (if any) may no longer be available. In addition, if you elected an optional benefit and do not use it, or if the contingencies upon which the benefit depend never occur, you will have paid for a benefit that did not provide a financial return. There is also a risk that any financial return of an optional benefit, if any, will ultimately be less than the amount you paid for the benefit. If you elected an optional Living Benefit, you are likely subject to investment restrictions for as long as the benefit remains in effect. Investment restrictions limit the investment options that are available to you and limit your ability to take certain actions under the Contract. The investment restrictions are designed to reduce our risk that we will have to make payments to you from our own assets in connection with certain guarantees. In turn, they may also limit the potential growth of your Account Value and the potential growth of your guaranteed benefits. This may conflict with your personal investment objectives. A withdrawal may reduce the value of your standard and optional benefits. For instance, a withdrawal may reduce the value of the death benefit. In addition, a withdrawal could reduce the value of an optional Living Benefit by an amount greater than the amount withdrawn and could result in termination of the benefit. A total withdrawal (surrender) will result in the termination of your Contract or certificate. An early withdrawal (or transfer) from a Multi-Year Enhanced Option may be subject to a market value adjustment that may reduce the value of your investment. We may defer payment of withdrawals from a Fixed Account Option for up to six months when permitted by law.

**Insurance Company Risk.** All guarantees under the Contract that are paid from our general account are subject to risks relating to our financial strength and claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. If your Contract or certificate was issued on December 29, 2006 or earlier, our insurance obligations under the Contract are also guaranteed by American Home Assurance Company, our former affiliate, subject to its financial strength and claims-paying ability. This guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options. If American Home Assurance Company experiences financial distress, it may not be able to fulfill its financial obligations under the guarantee.

**Contract Changes Risk:** Under the Contract, we reserve the right to remove or substitute Portfolio Companies as Investment Options. We additionally reserve the right to stop accepting additional Purchase Payments and impose investment restrictions or limitations on transfers including closing one or more Fixed Account Options to deposits or transfers and transfers among the Variable Investment Options.

**Short-Term Investment Risk.** This Contract is not designed for short-term investing and may not be appropriate for an investor who needs ready access to cash. The benefits of tax deferral, long-term income, and living benefit protections mean that this Contract is more beneficial to investors with a long-time horizon.

**Group Plan Risk.** The Contract is primarily designed to be purchased by an employer for use in a retirement plan. Your participation in a group Contract will be subject to the terms and conditions of your retirement plan and applicable law. This may impact your ability to make Purchase Payments, request withdrawals or loans, select payout options, or take other actions under the Contract. If the Contract is being used in a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contract in this prospectus.

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**Dynamic Allocation Fund Risk.** The Dynamic Allocation Fund is a Portfolio Company that is generally available under the Contract and is also an investment option under the optional Living Benefits' investment restrictions. This Portfolio Company has an investment strategy that may serve to reduce the risk of investment losses that could require us to use our own assets to make payments in connection with certain guarantees, like living and death benefits. In addition, this Portfolio Company may enable us to more efficiently manage our financial risks associated with guarantees, due in part to an asset management formula developed by affiliated insurance companies and utilized by the Portfolio Company's investment advisers, as described in the Portfolio Company's prospectus. This formula may change over time based on proposals from the Company. Any changes to the formula proposed by the Company will be implemented only if they are approved by the Portfolio Company's investment adviser and board of directors, including a majority of the independent directors.

**Public Fund Availability Risk.** Some in-plan deferred compensation plans may restrict investment in "Public Funds", which are Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Public Funds will not be available within your Contract. (Public Funds are identified in Appendix A.)

**Loan Risk.** If you take a loan under the Contract, interest will accrue on any outstanding loan amounts until they are repaid and, depending on the state, you may be required to pay a loan application fee to us. If you elected an optional living benefit and are permitted to take a loan, taking a loan may automatically terminate the benefit.

**Minimum Account Value Risk.** If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Business Disruption.** Our business is vulnerable to disruptions from natural and man-made disasters and catastrophes, such as but not limited to hurricanes, windstorms, flooding, earthquakes, wildfires, solar storms, war or other military action, acts of terrorism, explosions and fires, pandemics (such as COVID-19) and other highly contagious diseases, mass torts, failure of telecommunications or other critical infrastructure and other catastrophes. A natural or man-made disaster or catastrophe may negatively affect the computer and other systems on which we rely, including see outages or other unavailability, may interfere with our ability to receive, pick up and process mail, to calculate Purchase Unit values, process other contract-related transactions, or to otherwise provide our services, or may have other possible negative impacts. While we have developed and put in place what we believe to be appropriate business continuity and disaster recovery plans and procedures to mitigate operational risks and potential losses related to business disruptions resulting from natural and man-made disasters and catastrophes, there can be no assurance that we, our agents, the underlying Portfolio Company or our service providers will be able to successfully avoid negative impacts resulting from such disasters and catastrophes.

**Cybersecurity Risk.** We rely heavily on interconnected computer systems and digital data to conduct our variable product business activities. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our business partners and service providers, our business is vulnerable to physical disruptions and utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), cyber-attacks, and user errors or other disruptions that may compromise the confidentiality, integrity, or availability of such systems and data. These risks include, among other things, the theft, misuse, corruption, disclosure and destruction of sensitive business data, including personal information, maintained on our or our business partners' or service providers' systems, interference with our websites (such as via denial of service attacks), and other operational disruptions, and unauthorized release of confidential customer information. Such systems failures, cyber-attacks or other disruptions affecting us, any third-party administrator, the underlying Portfolio Companies, intermediaries and other affiliated or third-party service providers, as well as our distribution partners, may adversely affect us and your Contract Value. For instance, systems failures and cyber-attacks may interfere with our processing of contract transactions, including the processing of orders from our website, our distribution partners, or with the underlying Portfolio Companies, impact our ability to calculate Purchase Unit values, cause the release and possible destruction of confidential customer or business information, including personal information, impede order processing, or subject us and/or our service providers, distribution partners and other intermediaries to regulatory fines and enforcement action, litigation risks and financial losses and/or cause reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying Portfolio Companies invest, which may cause the affected underlying Portfolio Companies to lose value. There may be an increased risk of cyber-attacks during periods of geo-political or military conflict. Further, the widespread development, implementation, and use of AI, machine learning, data analytics and similar tools that collect, aggregate and analyze data or inputs (collectively, "AI Tools") may increase our exposure to, or exacerbate the risks of cyber-attacks or other security incidents, particularly where such technologies are exploited by third parties to attempt to breach our or our business partners' and service providers' systems. Despite our implementation of

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policies and procedures, which we believe to be reasonable, that address physical, administrative and technical safeguards and controls and other preventative actions to protect our systems and sensitive business and customer information, including personal information, and reduce the risk of cyber-incidents, there can be no assurance that we or our and distribution partners, the underlying Portfolio Companies or our business partners and service providers will avoid cyber-attacks or information security breaches in the future that may affect your contract and/or personal information.

**Description of Insurance Company, Registered Separate Account, and Investment Options**

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**About VALIC** 

We were originally organized on December 21, 1955 as The Variable Annuity Life Insurance Company of America Incorporated, located in Washington, D.C. We reorganized in the State of Texas on August 20, 1968, as Variable Annuity Life Insurance Company of Texas. On November 5, 1968, the name was changed to The Variable Annuity Life Insurance Company. Our main business is issuing and offering fixed and variable retirement annuity contracts, like Portfolio Director. Our principal offices are located at 2919 Allen Parkway, Houston, Texas 77019. We have regional offices throughout the United States. VALIC is an indirect, wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge"). VALIC is obligated to pay full amounts promised to investors under the Contracts, subject to its financial strength and claims-paying ability.

**Administration of the Contracts**

VALIC is responsible for the administrative servicing of your Contract. Please contact the Annuity Service Center at 1-800-448-2542, if you have any comments, questions, or service requests.

**About VALIC Separate Account A** 

When you direct money to the Contract's Variable Investment Options, you will be sending that money through VALIC Separate Account A. You do not invest directly in the Portfolio Companies made available in the Contract. VALIC Separate Account A invests in the Portfolio Companies on behalf of your account. VALIC acts as custodian for the Portfolio Company shares owned through the Separate Account. VALIC Separate Account A is made up of what we call "Divisions." Each Division invests in a different Portfolio Company made available through the Contract. The earnings (or losses) of each Division are credited to (or charged against) the assets of that Division, and do not affect the performance of the other Divisions of VALIC Separate Account A.

VALIC established Separate Account A on July 25, 1979 under Texas insurance law. VALIC Separate Account A is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended, (the "1940 Act"). Units of interest in VALIC Separate Account A are registered as securities under the Securities Act of 1933, as amended (the "1933 Act").

VALIC Separate Account A is administered and accounted for as part of the Company's business operations. However, the income, capital gains or capital losses, whether or not realized, of each Division of VALIC Separate Account A are credited to or charged against the assets held in that Division without regard to the income, capital gains or capital losses of any other Division or arising out of any other business the Company may conduct. In accordance with the terms of the Contract, VALIC Separate Account A may not be used to pay any liabilities of the insurance company other than those arising from the Contracts. Income, gains, and losses credited to, or charged against, VALIC Separate Account A reflects its own investment experience and not the investment experience of VALIC's other assets. As stated in the Contract, the Texas Insurance Code requires that the assets of VALIC Separate Account A attributable to the Contract be held exclusively for the benefit of the Contract owner, Participants, annuitants, and beneficiaries of the Contracts.

We are obligated to pay all amounts promised to investors under the Contracts. The commitments under the Contracts are the sole obligation of VALIC and the assets in VALIC Separate Account A may not be used to pay any liabilities of VALIC other than those arising from the Contracts. All amounts paid from our general account, including our obligations under any Fixed Account Option and any death benefits, Payout Payments, or Living Benefit guarantees in excess of your amounts in the Separate Account are subject to the Company's financial strength and claims-paying ability.

**Units of Interest** 

Your investment in a Division of VALIC Separate Account A is represented by units of interest issued by VALIC Separate Account A. On a daily basis, the units of interest issued by VALIC Separate Account A are revalued to reflect that day's performance of the underlying Portfolio Company minus any applicable fees and charges to VALIC Separate Account A.

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**American Home Assurance Company** 

The information below is applicable to you only if your Contract or Certificate was issued December 29, 2006 or earlier.

Insurance obligations under Contracts issued by the Company are guaranteed by American Home Assurance Company ("American Home"), an indirect wholly-owned subsidiary of American International Group, Inc. Insurance obligations include, without limitation, Contract value invested in any available fixed account option, death benefits and income options. The guarantee does not guarantee Contract value or the investment performance of the Variable Investment Options available under the Contracts. The guarantee provides that the Company's Contract owners can enforce the guarantee directly.

American Home provided notice of termination of the General Guarantee Agreement dated March 3, 2003 (the "Guarantee") with respect to Contracts issued by VALIC. The Guarantee terminated on December 29, 2006 at 4:00 p.m. Eastern time ("Point of Termination"). Pursuant to its terms, the Guarantee will not apply to any group or individual Contract or Certificate issued after the Point of Termination. The Guarantee will remain in effect for any Contract or Certificate issued prior to the Point of Termination until all insurance obligations under such Contracts or Certificates are satisfied in full. As described in the prospectus, VALIC will continue to remain obligated under all of its Contracts and Certificates, regardless of issue date, in accordance with the terms of those Contracts and Certificates.

American Home is a stock property-casualty insurance company incorporated under the laws of the State of New York on February 7, 1899. American Home's principal executive office and home office address is 1271 Avenue of the Americas, FL37, New York, NY, 10020-1304. American Home is licensed in all 50 states of the United States and the District of Columbia, as well as certain foreign jurisdictions, and engages in a broad range of insurance and reinsurance activities. American Home is an indirect wholly owned subsidiary of American International Group, Inc.

**Distribution of the Contracts** 

The principal underwriter and distributor for VALIC Separate Account A is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

*VFA* 

The Contracts are sold by licensed insurance agents who are registered representatives of broker-dealers, which are members of the Financial Industry Regulatory Authority ("FINRA"), unless such broker-dealers are exempt from the broker-dealer registration requirements of the Securities Exchange Act of 1934, as amended. VALIC receives payments from some Portfolio Companies for exhibitor booths at meetings and to assist with the education and training of VALIC, VFA and their affiliates, employees, and investment professionals.

VFA investment professionals who sell the Contracts will be compensated for such sales by commissions ranging up to 6% of each first-year Purchase Payment. The investment professionals will receive commissions of up to 0.85% for level Purchase Payments in subsequent years and up to 5% on increases in the amount of Purchase Payments in the year of the increase. During the first two years of employment, investment professionals may also receive developmental commissions of up to 4% for each first-year Purchase Payment and for increases in the amount of Purchase Payments. Investment professionals can also receive an Enrollment Payment where the amount of the payment varies based on the number of total enrollments written by the investment professional and on the expected annualized Purchase Payments of the Participant.

For more information about how your investment professional may be compensated, please contact your investment professional.

*Portfolio Companies* 

The Portfolio Companies or their registered investment advisers or their affiliates ("Portfolio Company Entities") may make payments to VALIC, typically for administrative, recordkeeping, and shareholder services that VALIC provides for the underlying Portfolio Company. See also **Payments from Portfolio Companies/Platform Charges** in this prospectus.

In addition, VALIC and/or its affiliates may receive payments from Portfolio Company Entities that voluntarily choose to participate in, and that are designed to defray the costs associated with, conferences, seminars, training, or other educational events sponsored by VALIC and its affiliates where such funds and services are discussed and that are attended by VFA investment professionals, VALIC employees, employees of our affiliates and/or plan sponsors and plan consultants. Moreover, these Portfolio Company Entities may also make payments to VALIC and/or its affiliates for exhibitor booths at meetings and to assist with education and training of VFA financial professionals.

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*Consultants* 

VALIC and its affiliates sometimes retain and compensate business consultants to assist VALIC in marketing group employee benefit services to employers. These business consultants are not associated persons of VFA or affiliated with VALIC or its affiliates and are not authorized to sell or market securities or insurance products to employers or to group plan participants. The fees paid to such business consultants are part of VALIC's general overhead and are not charged back to employers, group employee benefit plans or plan participants.

*Sponsorships* 

VALIC and its affiliates maintain ongoing relationships with various organizations and associations, including trade associations, unions, and other industry groups, to which VALIC and/or its affiliates makes sponsorship payments for marketing and advertising opportunities. These marketing and advertising opportunities may take the form of participation in leadership and recognition events, educational conferences, speaking opportunities, booth space and signage at membership conferences and similar events, and membership dinners. VALIC and its affiliates may also receive payments from unaffiliated third-parties in exchange for enhanced engagement with and exposure to VALIC and VFA management and their investment professionals throughout the year. Such payments are typically flat fees (either one-time or recurring) and are not based on transactions or sales.

VALIC and its affiliates also have ongoing relationships with retirement plan sponsors. As part of these ongoing relationships, VALIC and its affiliates sponsor events and seminars for plan participants that provide education for plan participants, as well as marketing and advertising opportunities for VALIC and its affiliates. Such sponsorships may include providing occasional meals, entertainment, or nominal gifts to the extent permitted by FINRA rules.

These various sponsorships may be considered endorsements of the products of VALIC or its affiliates, may result in additional annuity or other product sales to plan participants, and provide an incentive to these organizations, associations, and plan sponsors to promote the products and services of VALIC and its affiliates.

**Variable Investment Options and Fixed Account Options** 

The Contracts offer a choice from among several Variable Investment Options and five Fixed Account Options. The Variable Investment Options and Fixed Account Options may be referred to together as Investment Options. Depending on the selection made by your employer's plan, if applicable, there may be limitations on which and how many Investment Options Participants may invest in at any one time. All options listed (except where noted) are available, generally, for 401(a), 403(a), 401(k), and 403(b) plans and 457(b) eligible deferred compensation plans, as well as individual retirement annuities.

This prospectus describes a Contract in which units of interest in VALIC's Separate Account A are offered. Portfolio Director will allow you to accumulate retirement dollars in Fixed Account Options and/or Variable Investment Options. Variable Investment Options are referred to as Divisions (subaccounts) in VALIC Separate Account A. Each Separate Account Division represents our investment in a different Portfolio Company. This prospectus describes only the variable aspects of Portfolio Director except where the Fixed Account Options are specifically mentioned.

**Variable Investment Options** 

The Contracts enable you to participate in Divisions that represent the Variable Investment Options. These Divisions comprise all of the Variable Investment Options that are made available through VALIC Separate Account A. According to your retirement program, you may not be able to invest in all of the Variable Investment Options described in this prospectus. You

may be subject to further limits on how many options you may be invested in at any one time or how many of the options you are invested in may be involved in certain transactions at any one time. We reserve the right to limit the Investment Options available under your Contract if you elected a Living Benefit, as described in Appendix B.

Several of the Variable Investment Options offered through VALIC's Separate Account A are also available to the general public (retail investors) outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans. These funds are listed in Appendix A as "Public Funds." If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, or if your Contract is issued under a deferred compensation plan (other than an eligible 457(b) plan), those Variable Investment Options that are invested in Public Funds will not be available within your Contract, due to Code requirements concerning investor control. Therefore, the nonqualified annuities listed above and ineligible deferred compensation 457(f) plans and private sector top-hat plans (generally, an unfunded deferred compensation plan maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly-compensated employees) may invest only in VALIC Company I Funds.

Contract value allocated to a Variable Investment Option will vary based on the investment experience of the corresponding

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Portfolio Company in which the Variable Investment Option invests. There is a risk of loss of the entire amount invested.

**Information regarding each Portfolio Company, including (i) its name, (ii) its type (e.g. money market fund, bond fund, balanced fund, etc.), (iii) its investment adviser and any sub-investment adviser, (iv) current expenses, and (v) performance is available in an appendix to this prospectus. See "Appendix A – Investment Options Available Under the Contract."** 

**Each Portfolio Company has issued a prospectus that contains more detailed information about the Portfolio Company. Read these prospectuses carefully before investing. Paper or electronic copies of the Portfolio Company prospectuses may be obtained by calling 1-800-448-2542, or visiting www.corebridgefinancial.com/rs/prospectus-and-reports/annuities.** 

Refer to your employer's retirement program documents for a list of the employer-selected Variable Investment Options and any limitations on the number of Variable Investment Options you may choose. All Portfolio Companies may not be available for all plans or individual or group contracts.

Shares of certain of the Portfolio Companies are also sold to separate accounts of other insurance companies that may or may not be affiliated with us. This is known as "shared funding." These Portfolio Companies may also be sold to separate accounts that act as the underlying investments for both variable annuity contracts and variable life insurance policies. This is known as "mixed funding." There are certain risks associated with mixed and shared funding, such as conflicts of interest due to differences in tax treatment and other considerations, including the interests of different pools of investors. These risks may be discussed in each Portfolio Company's prospectus.

Investors seeking to achieve long term retirement security generally are encouraged to give careful consideration to the benefits of a well-balanced and diversified investment portfolio. As just one example, investing one's total retirement savings in a limited number of Investment Options may cause that individual's retirement savings to not be adequately diversified. Spreading those assets among different types of investments can help an investor achieve a favorable rate of return in changing market or economic conditions that may cause one category of assets or particular security to perform very well while causing another category of assets or security to perform poorly. Of course, diversification is not a guarantee of gains or against losses. However, it can be an effective strategy to help manage investment risk.

**Voting Rights**

As discussed in the **About VALIC Separate Account A** section of this prospectus, VALIC Separate Account A holds, on your behalf, shares of the Portfolio Companies that comprise the Variable Investment Options. From time to time, the Portfolio

Companies may be required to hold a shareholder meeting to obtain approval from their shareholders for certain matters.

**Who May Give Voting Instructions** 

During the Purchase Period, subject to any contrary provisions in the plan, the Contract Owner, Participant, or Beneficiary will have the right to give voting instructions to VALIC Separate Account A for the shareholder meetings, except as noted below. Proxy materials and a form on which voting instructions may be given before the shareholder meeting is held will be mailed in advance of any shareholder meeting. Please vote each card received.

Participants in a nonqualified unfunded deferred compensation plan will not have the right to give voting instructions.

**Determination of Portfolio Company Shares Attributable to Your Account** 

*During the Purchase Period* 

The number of Portfolio Company shares attributable to your account will be determined on the basis of the Purchase Units credited to your account on the record date set for the Portfolio Company shareholder meeting.

*During the Payout Period or after a Death Benefit Has Been Paid* 

The number of Portfolio Company shares attributable to your account will be based on the liability for future variable annuity payments to your payees on the record date set for the Portfolio Company shareholder meeting.

**How Portfolio Company Shares Are Voted** 

VALIC Separate Account A will vote all of the shares of the Portfolio Company it holds based on, and in the same proportion as, the instructions given by all Participants invested in that Portfolio Company entitled to give instructions at that shareholder meeting. VALIC Separate Account A will vote the shares of the Portfolio Companies it holds for which it receives no voting instruction in the same proportion as the shares for which voting instructions have been received. One effect of proportional voting is that a small number of Contract Owners may determine the outcome of a vote. In the future, we may decide how to vote the shares of VALIC Separate Account A in a different manner if permitted at that time under federal securities law.

In the event that shares of a Portfolio Company are owned by VALIC or an affiliated insurance company for their own benefit, such shares will be voted proportionally based on instructions received from Contract Owners.

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**Fixed Account Options** 

Portfolio Director Contracts feature up to five guaranteed Fixed Account Options that are each part of the General Account assets of the Company. These assets are invested in accordance with applicable state regulations to provide fixed-rate earnings and guarantee safety of principal. The guarantees under the Fixed Account Options are subject to our financial strength,

claims-paying ability, and our long-term ability to make such payments, and not the Separate Account. A tax-deferred nonqualified annuity may include the guaranteed Fixed Account Options. The Fixed Account Options are not subject to regulation under the 1940 Act and are not required to be registered under the 1933 Act. <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Fixed Account Options** | **Description** |
| Fixed Account Plus | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides for a fixed rate of interest with a long-term time horizon. It is credited <br> with interest at rates set by VALIC. The account is guaranteed to earn at least a minimum rate of interest as <br> shown in your Contract. Your money may be credited with a different rate of interest depending on the time <br> period in which it is accumulated. Purchase Payments allocated to Fixed Account Plus will receive a current <br> rate of interest. There are limitations on transfers out of this option. If you transfer assets from Fixed Account <br> Plus to another investment option, any assets transferred back into Fixed Account Plus within 90 days will <br> receive a different rate of interest than that paid for new Purchase Payments. Please refer to the **Fixed** <br> **Account Plus Excess Transfer Charge (Series 11 Only)** section in "*Charges and Adjustments*" for information <br> about certain transfer limitations for Fixed Account Plus.<br>|
| Short-Term Fixed Account | &nbsp;&nbsp;&nbsp; This Fixed Account Option provides fixed-return investment growth for the short-term. It is credited with <br> interest at rates set by VALIC, which may be lower than the rates credited to Fixed Account Plus, above. The <br> account is guaranteed to earn at least a minimum rate of interest as shown in your Contract. Your money may <br> be credited with a different rate of interest depending on the time period in which it is accumulated.<br>|
| &nbsp;&nbsp;&nbsp; Multi-Year Enhanced Option <br> ("Multi-Year Option")<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a long-term Investment Option, providing a guaranteed interest rate for a <br> guaranteed period (three, five, seven, or ten years) ("Multi-Year Option Term"). You may establish one or <br> more new Multi-Year Option guarantee periods (Multi-Year Options Bands) with a minimum amount, as <br> described in the Contract, per Multi-Year Option Band in states in which the Multi-Year Option has been <br> approved. The Company may change the minimum from time to time. Each Multi-Year Option Band will be <br> guaranteed to receive a stated rate of interest through the end of the selected Multi-Year Option term. We <br> guarantee your Multi-Year Option will earn at least the lowest minimum interest rate applicable to any of the <br> fixed interest options in the Contract. See your Contract for minimum investment amounts and other <br> requirements and restrictions. This option may not be available in all employee plans or states. All Multi-Year <br> Option Terms may not be available. See your investment professional for information on the Multi-Year <br> Option Terms that are currently offered.<br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6- month & <br> DCA Fixed Account 12-month<br>| &nbsp;&nbsp;&nbsp; This Fixed Account Option is a short-term Investment Option providing a guaranteed interest rate for money <br> invested in the option but prior to being systematically transferred to the designated Variable Investment <br> Options. It is credited with interest rates set by VALIC. The account is guaranteed to earn at least a minimum <br> rate of interest as shown in your Contract. Purchase Payments allocated to the DCA Fixed Account Option will <br> receive a current rate of interest. Purchase Payments may be credited with a different rate of interest <br> depending on the time period in which it is received by VALIC. This option may not be available in all states or <br> in employer sponsored plans.<br>|

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Generally, for most series of Portfolio Director, a current interest rate is declared at the beginning of each calendar month and is applicable to new contributions received during that month. Interest is credited to the account daily and compounded at an annual rate. You may obtain current interest rates by calling the Annuity Service Center or speaking with your investment professional. VALIC guarantees that all contributions received during a calendar month will receive that month's current interest rate for the remainder of the calendar year. Our practice, though not guaranteed, is to continue crediting interest at that same rate for such purchase payments for one additional calendar year. Thereafter, the amounts may be consolidated with contributions made during other periods and will be credited

with interest at a rate which the Company declares annually on January 1 and guarantees for the remainder of the calendar year. The interest rates and periods may differ between the series of Portfolio Director. Some series of Portfolio Director may offer a higher interest rate on Fixed Account Plus. This interest crediting policy is subject to change, but any changes made will not reduce the current rate below your contractually guaranteed minimum or reduce monies already credited to the account.

Your fixed account interest crediting rates are guaranteed for amounts allocated to each fixed account for up to 1 year. Thereafter, for Fixed Account Options, VALIC will declare annual fixed account crediting rates each Contract year, and this rate will never be lower than the minimum guaranteed rate as

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referenced in your Contract. Factors that influence the declared fixed account renewal rate include, but are not limited to, the level of US treasury rates, credit spreads on corporate bonds and other fixed income instruments, company asset-liability matching strategies, the length of the Contract withdrawal charge period and the number of years since your annuity Contract was issued.

*Dollar Cost Averaging Fixed Accounts* 

You may invest initial Purchase Payments in the Dollar Cost Averaging ("DCA") Fixed Accounts, if available. You may also invest a series of Subsequent Purchase Payments received over the first 30 days from the date of the initial Purchase Payment. Transfers and exchanges from any affiliated VALIC product are not permitted. See "Dollar Cost Averaging Program" below for more information.

The minimum Purchase Payment amounts for the DCA Fixed Account Options are as follows:

**DCA Fixed Account Minimum Purchase Payment** 

6-Month = $25,000 \* <br>12-Month = $25,000 \*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You may not make a transfer from a Variable Investment Option or available Fixed Account Option into a DCA Fixed Account Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Unless otherwise directed by you, any Purchase Payment less than the above minimum amounts will automatically be allocated to an available Variable Investment Option or Fixed Account Option according to your current allocation instructions on file.

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\*

The DCA Fixed Account Minimum Purchase Payment for Contracts issued in Oregon is $5,000.

*DCA Interest Rate Crediting*. DCA Fixed Accounts credit a fixed rate of interest and can only be elected to facilitate a DCA Program. Interest is credited to amounts allocated to the DCA Fixed Accounts while your money is transferred to available Investment Options over certain specified time frames. The interest rates applicable to the DCA Fixed Accounts may differ from those applicable to any other Fixed Account Option but will never be less than the minimum guaranteed interest rate specified in your Contract. The minimum guaranteed interest rate can vary but is never lower than 1%. However, when using a DCA Fixed Account, the annual interest rate is paid on a declining balance as you systematically transfer your money to available Investment Options. Therefore, the actual effective yield will be less than the stated annual crediting rate. We reserve the right to change the availability of DCA Fixed Accounts offered, unless state law requires us to do otherwise.

**Dollar Cost Averaging Program** 

Under the DCA Program, systematic transfers of the value will be processed from the applicable DCA Fixed Account ("source account") to any available Variable Investment Options ("target account"). For example, if you select the DCA Fixed Account 6-month Option, 1/6 of your Account Value will be transferred the first month, 1/5 of the Account Value the 2nd month, 1/4 of the Account Value the 3rd month, 1/3 of the Account Value the 4th month, 1/2 the Account Value the 5th month and the balance of the option the 6th month. At the end of the selected period, there should be no money left in the DCA Fixed Account Option.

The DCA Program allows you to invest gradually in available Variable Investment Options at no additional cost. The DCA Program is designed to lessen the impact of market fluctuations on your investment. However, the DCA Program can neither guarantee a profit nor protect your investment against a loss. When you elect the DCA Program, you are continuously investing in securities fluctuating at different price levels. You should consider your risk tolerance for investing through periods of fluctuating price levels.

*Example of DCA Program* 

Assume that you deposit the minimum of $25,000 into the DCA Fixed Account – 6 month Option. The DCA program will systematically transfer the deposits and interest from the DCA Fixed Account to your designated Variable Investment Options. Assume a DCA Fixed Account earns a minimum interest credited rate of 1%, and these amounts are transferred to a single Variable Investment Option over the six months, and that this Variable Investment Option has the Unit Values shown below. For this example, the DCA Program purchases would have the following values:

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| | | |
|:---|:---|:---|
| **Month** | **Unit Value** | **Units Purchased** |
| 1 | $7.50 | 556 |
| 2 | $5.00 | 835 |
| 3 | $10.00 | 418 |
| 4 | $7.50 | 557 |
| 5 | $5.00 | 837 |
| 6 | $7.50 | 558 |

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You paid an average price of only $6.67 per Unit over six months, while the average market price actually was $7.08. With Dollar Cost Averaging, you automatically buy more Units when the market price is low and fewer Units when the market price is high. This example is for illustrative purposes only.

*DCA Program Guidelines* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Options are not available as target accounts for the DCA Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers occur on a monthly periodic schedule.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfers resulting from your participation in the DCA Program are not counted towards the number of transfers allowed per contract year.

*Termination of DCA Program* 

You may terminate the DCA Program at any time. If you terminate the DCA Program and money remains in the applicable DCA Fixed Account, we transfer the remaining money according to your current allocation instructions on file. Upon notification of your death, we will terminate the DCA Program unless your Beneficiary instructs us otherwise and we will transfer the remaining money according to the current allocation instructions on file.

We reserve the right to terminate or modify the DCA Program at any time and for any reason. Any such termination or modification, however, will not affect Contract Owners currently enrolled in a DCA Fixed Account Option.

**Impact of Advisory Program Fees** 

Please note that if you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, advisory fees deducted from Account Value will also result in a reduction of any Account Value allocated to the Fixed Account Option(s) by the dollar amount assessed for the Advisory Program Fee.

**Charges and Adjustments**

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By investing in Portfolio Director, you may be subject to these fees and charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Account Maintenance Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Surrender Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Premium Tax Charge

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Separate Account Charges (referred to as "Base Contract Expenses")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Portfolio Company Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advisory Program Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Living Benefit Fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Multi-Year Enhanced Option Adjustment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other Charges

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed Account Plus Excess Transfer Charge

These fees and charges are applied to the Variable Investment Options and Fixed Account Options in proportion to the Account Value as explained below. Unless we state otherwise, we may profit from these fees and charges. For additional information about these fees and charges, see the "*Fee Table*" section in this Prospectus. In addition, certain charges may apply to the Multi-Year Enhanced Option, which are discussed at the end of this section.

**Account Maintenance Charge (Series 1 and 9 Contracts Only)** 

Under a series 1 or 9 Contract, during the Purchase Period, an account maintenance charge of $3.75 will be deducted on the last Business Day of each calendar quarter if any of your money is invested in the Variable Investment Options. We will sell Purchase Units from your account to pay the account maintenance charge. If all your money in the Variable Investment Options is withdrawn, or transferred to a Fixed Account Option, the charge will be deducted at that time. The

charge will be assessed pro-rata among the Variable Investment Options that make up your Account Value. We do not charge an account maintenance charge during the Payout Period.

The account maintenance charge is paid to the Company to reimburse us for our administrative expenses. This includes the expense for establishing and maintaining the record keeping for the Variable Investment Options. Certain Contracts may not be subject to this charge.

**Surrender Charge (Series 1, 3, 4, 5, 7, 8, 9, and 10 Contracts Only)** 

Under a series 1, 3, 4, 5, 7, 8, 9, or 10 Contract, when you withdraw money from your account, you may be subject to a surrender charge that will be deducted from the amount withdrawn. Surrender charges reimburse us for the cost of Contract sales, expenses associated with issuing your Contract, and other acquisition expenses.

If you request a partial surrender of your Account Value, a surrender charge would apply to any amount that exceeds the 10% free withdrawal allowed for any Participant Year. See below for exceptions to this charge. It is assumed that any new Purchase Payments are withdrawn before older ones; thus, the last dollar in is the first dollar out. See below for exceptions to this procedure. For information about your right to surrender, see the "*Surrenders and Withdrawals*" section in this prospectus.

Amounts exchanged from other contracts issued by the Company may or may not be subject to a surrender charge. After the exchange, it is assumed that any new Purchase Payments are withdrawn before the exchanged amount.

*Amount of Surrender Charge* 

A surrender charge will be the lesser of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount of all Purchase Payments received during the past 60 months; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Five percent (5%) of the amount withdrawn.

*10% Free Withdrawal* 

In any Participant Year, up to 10% of the Account Value may be withdrawn without a surrender charge. The surrender charge will apply to any amount withdrawn that exceeds this 10% limit. The percentage withdrawn will be determined by dividing the amount withdrawn by the Account Value just prior to the withdrawal. If more than one withdrawal is made during a Participant Year, each percentage will be added to determine at what point the 10% limit has been reached.

These 10% withdrawals without charge do not reduce Purchase Payments for the purpose of computing the surrender charge. If a surrender charge is applied to all or part of a Purchase Payment, no surrender charge will be applied to such Purchase Payment (or portion thereof) again. There may be a 10% premature distribution tax penalty for taking a withdrawal prior to age 59½. See the "*Taxes*" section for more information.

*Exceptions to Surrender Charge* 

No surrender charge will be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If no Purchase Payments have been received during the 60 months prior to the date of surrender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 15 years or longer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If your account has been in effect for 5 years or longer, and you have attained age 59½;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To "No Charge Systematic Withdrawals";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under certain contracts, to withdrawals under the No Charge Minimum Distribution provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are at least 55 years old, are no longer employed by the employer that established the plan, and your

account under the plan was established at least 5 years prior to the date of surrender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lesser of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received during the most recent 60 months; or five percent (5%) of the total amount withdrawn.

We may waive any otherwise applicable surrender charge if you reinvest the surrender proceeds in another VALIC product. You will, however, be subject to a surrender charge, if any, in the newly acquired product under the same terms and conditions as the original product. For purposes of calculating any surrender charge due, you will be considered to have acquired the new product as of the date you acquired the original product.

**Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** 

Transfers from the Fixed Account Plus option are limited to 20% per Participant Year. See **Transfers Between Investment Options**. For series 11 Contracts, transfers in excess of this limitation will be permitted; however, the excess amount transferred will be subject to a charge of 5% on the excess amount transferred. This transfer charge will be paid to the Company to account for administrative expenses associated with the Fixed Account Options. Withdrawals from the Fixed Account Option to another funding entity are considered "transfers" for purposes of this limitation.

*Exceptions to Fixed Account Plus Excess Transfer Charge* 

This charge will not be applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under any series other than series 11 Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To transfers from the Fixed Account Option within the 20% per Participant Year limitation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To money applied to provide a Payout Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To death benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If, after the original Contract issue date, you have become totally and permanently disabled, defined as follows: you are unable, due to mental or physical impairment, to perform the material and substantial duties of any occupation for which you are suited by means of education, training or experience; the

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impairment must have been in existence for more than 180 days; the impairment must be expected to result in death or be long-standing and indefinite and proof of disability must be evidenced by a certified copy of a Social Security Administration determination or a doctor's verification; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you retire or are separated from service.

**Premium Tax Charge** 

Premium taxes are imposed by some states, cities, and towns. The rate will range from 0% to 3.5%, depending on whether the Contract is qualified or nonqualified. Such tax will be deducted from the Account Value when annuity payments are to begin. We will not profit from this charge. See Appendix C for variations of the premium tax charge that may be applicable in your state.

**Separate Account Charges** 

The Separate Account Charge (also referred to as a Base Contract Expense) is 0.40% and is deducted daily from the average daily net asset value allocated to the Variable Investment Option(s). If you are invested in series 1 or 9, the maximum Base Contract Expense in the Fee Tables reflects the inclusion of the annual maintenance charge and accordingly will reflect a higher number. This Separate Account Charge is guaranteed and cannot be increased by the Company. For a discussion of how the Separate Account Charges impact the calculation of each Division's unit value, see "Purchase Unit Value" in the SAI.

The Separate Account Charges compensate the Company for assuming certain risks under Portfolio Director. The Company assumes the obligation to provide payments during the Payout Period for your lifetime, no matter how long that might be. In addition, the Company assumes the obligation, during the Purchase Period, to pay an interest guaranteed death benefit. The Separate Account Charges also may cover the costs of issuing and administering Portfolio Director and administering and marketing the Variable Investment Options, including but not limited to enrollment, participant communication and education. Separate Account Charges are applied to Variable Investment Options during both the Purchase Period and Payout Period.

The Separate Account Charges may be reduced if issued to certain types of plans that are expected to result in lower costs to VALIC, as discussed below. The Separate Account Charges are guaranteed and may not be increased for the life of your Contract.

*Reduction or Waiver of Account Maintenance, Surrender, or Separate Account Charges* 

We may, as described below, determine that the account maintenance charge, surrender charges, or Separate Account Charges for Portfolio Director may be reduced or waived. We may reduce or waive these charges if we determine that your

retirement program will allow us to reduce or eliminate administrative or sales expenses that we usually incur for retirement programs. There are a number of factors we will review in determining whether your retirement program will allow us to reduce or eliminate these administrative or sales expenses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The type of retirement program. Certain types of retirement programs, because of their stability, can result in lower administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The nature of your retirement program. Certain types of retirement programs, due to the types of employees who participate, experience fewer account surrenders, thus reducing administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other factors of which we are not presently aware that could reduce administrative costs.

We review the following additional factors to determine whether we can reduce or waive account maintenance charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program. Purchase Payments received no more than once a year can reduce administrative costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The administrative tasks performed by your employer for your retirement program.

The employer sponsoring your retirement program can, through its method of remitting Purchase Payments, reduce administrative costs.

We review the following additional factors to determine whether we can reduce surrender charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program. A retirement program that involves a larger group of employees may allow us to reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The total amount of Purchase Payments to be received for your retirement program. Larger Purchase Payments can reduce sales expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The use of mass enrollment or related administrative tasks performed by your employer for your retirement program.

We review the following additional factors to determine whether we can reduce the Separate Account Charges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The frequency of Purchase Payments for your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The size of your retirement program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount of your retirement program's periodic Purchase Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The method of remitting periodic Purchase Payments.

In no event will the reduction or waiver of fees and charges be permitted where the reduction or waiver will unfairly discriminate against any person.

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Additionally, under certain circumstances, and at VALIC's sole discretion, VALIC may issue a Contract credit for amounts transferred on behalf of a group contract from another plan or provider, pursuant to the terms of the Contract.

**Payments from Portfolio Companies/Platform Charges** 

Some of the Portfolio Companies or their affiliates have an agreement with the Company to pay the Company for administrative, recordkeeping and shareholder services it provides to the underlying Portfolio Company. We receive payments for the administrative services we perform, such as account recordkeeping, mailing of Portfolio Company related information and responding to inquiries about the Portfolio Companies. Currently, these payments range from 0.00% to 0.35% of the market value of the assets invested in the underlying Portfolio Company as of a certain date, usually paid at the end of each calendar quarter.

We may also receive what is referred to as "12b-1 fees" and non-12b-1 service fees from certain Portfolio Companies. These fees are designed to help pay for our direct and indirect distribution costs. The 12b-1 fees and non-12b-1 service fees are generally equal to 0.25% of the daily market value of the assets invested in the underlying Portfolio Company.

From time to time, some of these arrangements may be renegotiated so that we receive a greater payment than previously paid.

If we do not have an arrangement to receive payments from certain Portfolio Companies, we may charge a Platform Charge in order to help us manage our costs in light of the fact that the Portfolio Company is not paying us or is paying us too little. The Platform Charges are reflected in "Appendix A – Investment Options Available Under the Contract" to help you understand the cost of investing in certain Variable Investment Options.

**Multi-Year Enhanced Option Adjustment** 

Under the Multi-Year Option, a withdrawal will generally be subject to a surrender charge if it exceeds the amount of any free withdrawal amount permitted under your Contract. Withdrawals or transfers from an Multi-Year Option Band prior to the end of the Multi-Year Option term will be subject to a market value adjustment, unless a waiver applies. This adjustment may be positive or negative, based upon the differences in selected interest rates at the time the Multi-Year Option Band was established and at the time of the withdrawal. This adjustment will not apply upon the Owner's death, or if the Contract Owner is not a natural person, upon the death of the Annuitant. This adjustment applies independently from surrender charges and can apply to a 10% free withdrawal. The adjustment may be waived for distributions that are required under your Contract. It will also be waived for 30 days following the end of an Multi-Year Option term. Loans are not available

from the Multi-Year Option. Please review your Contract for additional information on the Multi-Year Option.

**Portfolio Company Expenses** 

Charges deducted from, and expenses paid out of, the assets of the Portfolio Company are described in the prospectuses for the Portfolio Companies.

**Living Benefit Fees** 

If you elected an optional Living Benefit, information about the additional fees to which you are subject can be found under "Fee Tables" and "Appendix B – Living Benefits."

**Advisory Program Fees** 

If you enrolled in an Advisory Program, your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of the Advisory Program Fee pursuant to authorizations that you have provided to your Investment Adviser. The authorization for VALIC to deduct amounts from your Contract for payment of the Advisory Program Fee is included in the Advisory Agreement you signed with your Investment Adviser upon enrollment in the Advisory Program. The Advisory Program Fee is charged by and paid to your Investment Adviser, not VALIC, for the costs associated with administering the Advisory Program and is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Deduction of the Advisory Program Fee may reduce certain benefits guaranteed under the Contract, including Contract death benefits, optional living benefits and annuity benefits and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. Please see **Impact of Advisory Program Fees** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" and "*Annuity Period*" sections for more details. Please consult your tax professional regarding the impact of deducting advisory fees from Account Value before making any election to do so.

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**Other Charges** 

We reserve the right to charge for certain taxes that we may have to pay. This could include federal income taxes. Currently, no such charges are being made.

Fees for plan services provided by parties other than VALIC or its affiliates maybe assessed to participant accounts upon the direction or authorization of a plan representative. Additional fees may be withdrawn from client accounts in accordance with a client's independent investment advisory contract. Such withdrawals will be identified on applicable participant account reports or client statements.

Plan loans from the Fixed Account Options may be allowed by your employer's plan. Refer to your plan for a description of

charges and other information concerning plan loans. We reserve the right to charge a fee of up to $75 per loan (if permitted under state law) and to limit the number of outstanding loans.

**Exchange Privilege**

From time to time, we may offer to exchange certain fixed or variable contracts into Portfolio Director. Such an exchange offer will be made in accordance with applicable federal securities laws and state insurance rules and regulations. We will provide the specific terms and conditions of any such exchange offer at the time the offer is made.

**General Description of Contracts**

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**About the Contracts** 

The Contracts were developed to help you save money for your retirement and are available to individuals who are Participants in a group Contract through an employer-sponsored qualified retirement plan as well as individuals investing in the Contract through an IRA or other non-qualified arrangements. The Contracts offer a combination of Variable Investment Options and Fixed Account Options that you, as a Participant or an Individual, may choose to invest in to help you reach your retirement savings goals. You should consider your personal risk tolerances and your retirement savings plan in choosing your investment options.

A group Contract is a Contract that is purchased by an employer for a retirement plan. The employer and the plan documents will determine how contributions may be made to the Contracts. For example, the employer and plan documents may allow contributions to come from different sources, such as payroll deductions or money transfers. The amount, number, and frequency of your Purchase Payments may also be determined by the retirement plan for which your Contract was purchased. Likewise, the employer's plan may have limitations on partial or total withdrawals (surrenders), the start of annuity payments, and the type of annuity payout options you select. For Contracts purchased under a retirement plan, the plan may designate the available Investment Options under the Contract and may be required to provide direction regarding additions or replacements of Investment Options. Plans subject to Title I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") may be subject to additional plan and Contract provisions.

If you are purchasing the Contract as an individual, through certain after-tax arrangements such as an IRA or as a non-qualified contract, you are the owner of the Contract and retain the rights and authority to make decisions about your Contract including contributions, investment allocations, and

annuitization, subject to limitations discussed in this Prospectus. For example, if you purchase your Contract as a tax-deferred, non-qualified annuity, the Public Funds included in Appendix A will not be available as Variable Investment Options in your Contract.

The retirement savings process with the Contracts will involve two stages: the accumulation Purchase Period, and the annuity Payout Period. The accumulation period is when you make contributions into the Contracts called "Purchase Payments." The Payout Period begins when you decide to annuitize all or a portion of your Account Value. You can select from a wide array of payout options including both fixed and variable payments. For certain types of retirement plans, such as 403(b) plans, there may be statutory restrictions on withdrawals as disclosed in the plan documents. Refer to your plan document for guidance and any rules or restrictions regarding the accumulation or annuitization periods. For more information, see the "*Purchases and Contract Value*" and "*Annuity Period*" sections in this prospectus.

**For material state variations associated with the Contracts, see *Appendix C*.** 

**About the General Account** 

Any obligations under the Contract that are funded by our General Account, including death benefits and the Fixed Account Options, are subject to our financial strength, claims-paying ability and our long-term ability to make such payments.

If you have questions about your Contract, call your investment professional or contact us at 1-800-448-2542.

**About the Series** 

This prospectus describes 12 different Classes, which we call series, of the Contract. There are differences among the series with respect to surrender charges, other fees and charges,

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restrictions, and features. Each series is offered to certain group plans or through certain markets. The following table reflects the group plans and markets through which the series are offered.

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| | |
|:---|:---|
| **Series** | **Group Plans / Markets** |
| Series 1 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Plans; <br> Individual Retirement Accounts (IRAs)<br>|
| Series 2 | Higher Education Plans |
| Series 3<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 4<sup>(1)</sup> | Hospital Pension Plans;<br> Section 501(c)(3) Organization Plans<br>|
| Series 5 | Healthcare Plans; Higher Education Plans; <br> K-12 Plans<br>|
| Series 6 | K-12 Plans; Healthcare Plans; Higher <br> Education Plans; Governmental Section 457 <br> Defined Contribution Plans; <br> Section 501(c)(3) Organization Plans<br>|
| Series 7 | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 8<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 9 | Certain Non-qualified Arrangements |
| Series 10<sup>(2)</sup> | Government Section 457 Defined <br> Contribution Plans<br>|
| Series 11 | Higher Education Plans |
| Series 12 | Government Section 457 Defined <br> Contribution Plans<br>|

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<sup>(1)</sup> Not available for new sales. New participants are allowed under existing Contracts.

<sup>(2)</sup> Not available for new sales. No new participants are allowed under existing Contracts.

**Transfers Among the Investment Options** 

You may transfer all or part of your Account Value between the various Variable Investment Options and Fixed Account Options in Portfolio Director up to the applicable limits without a charge. Transfers may be made during the Purchase Period or during the Payout Period, subject to certain restrictions. If you are enrolled in an Advisory Program, in order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program. **We reserve the right to limit the number, frequency (minimum period of time between transfers) or dollar amount of transfers you can make and to restrict the method and manner of providing or communicating transfers or reallocation instructions.** You will be notified of any changes to this policy through newsletters or information posted online at www.corebridgefinancial.com/rs.

*During the Purchase Period — Policy Against Market Timing and Frequent Transfers* 

VALIC has a policy to discourage excessive trading and market timing. Our Investment Options are not designed to accommodate short-term trading or "market timing" organizations, or individuals engaged in certain trading strategies, such as programmed transfers, frequent transfers, or transfers that are large in relation to the total assets of a Portfolio Company. These trading strategies may be disruptive to Portfolio Companies by diluting the value of the Portfolio Company shares, negatively affecting investment strategies and increasing portfolio turnover. Excessive trading may also raise Portfolio Company expenses, such as recordkeeping and transaction costs, and can potentially harm Portfolio Company performance. Further, excessive trading may harm Portfolio Company investors, as the excessive trading takes security profits intended for the entire Portfolio Company and could force securities to be sold to meet redemption needs. The premature selling and disrupted investment strategy could cause the Portfolio Company's performance to suffer, and exerts downward pressure on the Portfolio Company's price per share.

Accordingly, VALIC implemented certain policies and procedures intended to discourage short-term trading. If you sell Purchase Units in a Variable Investment Option valued at $5,000 or more, whether through an exchange, transfer, or any other redemption, you will not be able to make a purchase of $5,000 or more in that same Variable Investment Option for 30 calendar days.

This policy applies only to investor-initiated trades of $5,000 or more, and does not apply to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Plan-level or employer-initiated transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase transactions involving transfers of assets or rollovers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Retirement plan contributions, loans, and distributions (including hardship withdrawals);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Roth IRA conversions or IRA recharacterizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic purchases or redemptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic account reallocations and/or rebalancing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trades of less than $5,000.

Transfers resulting from your participation in the GPS Portfolio Manager Program or GPA Program administered by VALIC Financial Advisors, Inc. will not count against these transfer limitations.

As described in a Portfolio Company's prospectus and statement of additional information, in addition to the above, Portfolio Company purchases, transfers and other redemptions may be subject to other investor trading policies, including redemption fees, if applicable. Certain Portfolio Companies may set limits on transfers in and out of a Portfolio Company within a set time

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period in addition to or in lieu of the policy above. Also, an employer's benefit plan may limit an investor's rights to transfer.

We intend to enforce these investor trading policies uniformly. We make no assurances, however, that all the risks associated with frequent trading will be completely eliminated by these policies and/or restrictions. If we are unable to detect or prevent

market timing activity, the effect of such activity may result in additional transaction costs for the investment options and dilution of long-term performance returns. Thus, your account value may be lower due to the effect of the extra costs and resultant lower performance. We reserve the right to modify these policies at any time.

The Fixed Account Options are subject to additional restrictions:

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| | | | |
|:---|:---|:---|:---|
| **Fixed Account Option** | **Value** | **Frequency** | **Other Restrictions** |
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; Up to 20% per <br> Participant Year<br>| &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If you transfer assets from Fixed Account Plus to another investment <br> option, any assets transferred back into Fixed Account Plus within 90 <br> days may receive a different rate of interest than your new Purchase <br> Payments.<sup>(1)</sup><br>|
| Fixed Account Plus: | &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; If Account Value is less than or equal to $500. |
| Short-Term Fixed Account: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; After a transfer into the Short-Term Fixed Account, you may not make <br> a transfer from the Short-Term Fixed Account for 90 days.<sup>(2)</sup><br>|
| Multi-Year Option<sup>(3)</sup>: | &nbsp;&nbsp;&nbsp; Up to 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Withdrawals or Transfers subject to market value adjustment if prior to <br> the end of an MVA term. Each MVA Band will require a minimum <br> transfer amount, as described in the Contract.<sup>(4)</sup><br>|
| &nbsp;&nbsp;&nbsp; DCA Fixed Account 6-month & <br> DCA Fixed Account 12-<br> month<sup>(5)</sup>:<br>| &nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp; At any time | &nbsp;&nbsp;&nbsp; Transfers can be made from a DCA Fixed Account Option at any time. <br> Only money remaining in the Option will earn interest. Transfers from <br> other Options are not allowed into the DCA Fixed Account Options at <br> any time.<br>|

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<sup>(1)</sup>

If multiple transfers are made in a Participant Year, the percentages of the Account Value transferred each time will be added together to determine the 20% transfer limit for that Certificate Year. Your employer may further limit or expand the restrictions. We may charge for those modified restrictions if specified in your employer's retirement plan. For Series 11 Contracts, see **Fixed Account Plus Excess Transfer Charge (Series 11 Contracts Only)** for transfers in excess of the 20% limitation.

<sup>(2)</sup>

VALIC may change this holding period at any time in the future, but it will never be more than 180 days.

<sup>(3)</sup>

The Multi-Year Option may not be available unless it has been selected as an option for your employer's retirement plan.

<sup>(4)</sup>

The minimum transfer amount may be changed from time to time by the Company.

<sup>(5)</sup>

The DCA Fixed Account 6-month & DCA Fixed Account 12-month Options are only available for individual retirement annuities.

Contracts issued in connection with certain plans or programs may have different transfer restrictions due to the higher interest rates offered on Fixed Account Plus. From time to time we may waive the 20% transfer restriction on Fixed Account Plus for transfers to the Multi-Year Option or to other Investment Options.

*Communicating Transfer or Reallocation Instructions* 

Transfer instructions may be given by telephone, through the internet, using the self-service automated phone system, or in writing. We encourage you to make transfers or reallocations through the internet or the self-service automated phone service for most efficient processing. We will send a confirmation of transactions to the Participant within five days from the date of the transaction. It is your responsibility to verify the information

shown and notify us of any errors within 30 calendar days of the transaction.

Generally, no one may give us telephone instructions on your behalf without your written or recorded verbal consent. Investment professionals or authorized broker-dealer employees who have received client permission to perform a client-directed transfer of value via the telephone or internet will follow prescribed verification procedures.

When receiving instructions over the telephone or online, we follow appropriate procedures to provide reasonable assurance that the transactions executed are genuine. Thus, we are not responsible for any claim, loss or expense from any error resulting from instructions received over the telephone or online. If we fail to follow our procedures, we may be liable for any losses due to unauthorized or fraudulent instructions. We

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reserve the right to modify, suspend, waive or terminate these transfer provisions at any time.

*Effective Date of Transfer* 

The effective date of a transfer will be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The date of receipt, if received in good order by us before Market Close; otherwise,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The next date values are calculated.

*Transfers During the Payout Period* 

During the Payout Period, transfer instructions must be given in writing and mailed to the Annuity Service Center. Transfers may be made between the Contract's Investment Options subject to the following limitations:

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| | | |
|:---|:---|:---|
| **Payout Option** | **% of Account Value** | **Frequency** |
| Variable Payout: | Up to 100% | Once every 365 days |
| Combination Fixed and Variable Payout: | Up to 100% of money in variable option payout | Once every 365 days |
| Fixed Payout: | Not permitted | N/A |

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**Other Contract Features**

*Changes That May Not Be Made* 

The following terms in the Contracts may not be changed once your account has been established:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner (except for an individual nonqualified Contract);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annuitant.

*Change of Beneficiary* 

The beneficiary (if not irrevocable) may usually be changed ay any time. Two or more Beneficiaries may be designated to receive separate percentage interests in the death benefits payable under the contract. Each such Beneficiary may separately exercise the rights that a Beneficiary has under the Contract.

One of more contingent Beneficiaries may be designated. A contingent Beneficiary will receive benefits payable upon the Participant's death if all of the primary Beneficiaries have died prior to the Participant. A contingent Beneficiary will have all of the same rights as a Beneficiary during the Purchase Period or Payout Period.

Under some retirement programs, the right to name a Beneficiary other than the spouse or to change a Beneficiary is subject to approval by the spouse. Also, the right to name a Beneficiary other than the spouse may be subject to certain laws and regulations applicable to the plan.

If the Annuitant dies, and there is no Beneficiary, any death benefit will be payable to the Annuitant's estate, except in the case of a nonqualified Contract where the Contract Owner and

Annuitant are different, in which case the death benefit is paid to the Contract Owner or the Contract Owner's estate.

If a Beneficiary dies prior to the Participant, that Beneficiary's interest will be divided pro rata among the remaining Beneficiaries.

If a Beneficiary dies while receiving payments, and there is no co-Beneficiary to continue receiving payments, any amount still due will be paid to the Beneficiary's estate.

*Contingent Owner* 

The Contract Owner may name a contingent owner under an individual nonqualified Contract. During the Purchase Period, the contingent owner may be changed.

*We Reserve Certain Rights* 

We may amend the Contracts to comply with changes in federal tax, securities, or other laws. We may also make changes to the Variable Investment Options offered under the Contracts. For example, we may add new Variable Investment Options to expand the offerings for an asset class. We may stop accepting allocations and/or investments in a particular Variable Investment Option when not in the best interest of the Contract Owner or the Separate Account, such as when the shares of the underlying Portfolio Company are no longer available for investment or if, for example, the underlying Portfolio Company is dealing with material regulatory and/or legal issues, sustained performance downturns, or significant increases in expenses. We may move assets and re-direct future premium allocations from one Variable Investment Option to another in accordance with federal and state law and, in some cases, with SEC approval. The new Variable Investment Option offered may have different fees, expenses, objectives, strategies and risks.

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We may restrict your ability to combine Contracts and may modify or suspend or impose additional or different conditions with respect to options available under the Contracts, as may be allowed by federal or state law. We will not make any changes to the Contracts without Contract Owner and/or Participant (as applicable) permission except as may be allowed by federal or state law. We may add endorsements to the Contracts that would apply only to new Contract Owners and Participants after the effective date of the changes. These changes would be subject to approval by the Company and may be subject to approval by the SEC.

We reserve the right to operate VALIC Separate Account A as a management investment company under the applicable securities laws, and to deregister VALIC Separate Account A under applicable securities laws, if registration is no longer required.

We reserve the right to close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Variable Investment Options, with advance written notice. We may make the Fixed Account Options available or close the Fixed Account Options as frequently as we determine at any point in time while the Contract is in force, provided we give advance written notice in each case.

*Relationship to Employer's Plan* 

If the Contract is being offered under a retirement plan through your employer, you should always refer to the terms and conditions in your employer's plan when reviewing the description of the Contracts in this prospectus.

**Annuity Period**

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The Annuity Period, also referred to as the Payout Period, begins when you decide to retire or when you elect to annuitize all or a portion of your Account Value. If your employer's plan permits, you may apply any portion of your Account Value to one of the types of payout options listed below. However, if you are Participant in an employer-sponsored retirement plan, the payout options available to you may differ or be limited based on your employer's plan.

You may choose to have your Payout Payments on a fixed, a variable, or a combination of fixed and variable basis. If you do not elect the basis upon which your Payout Payments will be made, the Payout Payments will mirror the allocation of Investment Options in your Contract upon annuitization. When you choose to have your Payout Payments on a variable basis, you may keep the same Variable Investment Options in which your Purchase Payments were made, or transfer to different ones. For example, if your Account Value is allocated solely to the Variable Investment Options upon annuitization and you have not made an election, your Payout Payments will be made on a variable basis, or if your Account Value is allocated solely to a Fixed Account Option, your Payout Payments will be made on a fixed basis. Similarly, if your Account Value is allocated to both Variable Investment Options and Fixed Account Options, Payout Payments will be made on a combination of fixed and variable basis.

**Payout Payments on a Fixed Basis** 

Under a payout on a fixed basis you will receive payments that are fixed and guaranteed by the Company. The amount of these payments will depend on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Type and duration of payout option chosen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your age or your age and the age of your survivor<sup>(1)</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your gender or your gender and the gender of your survivor<sup>(1)</sup> (IRAs and certain nonqualified Contracts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The portion of your Account Value being applied; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The payout rate being applied and the frequency of the payments.

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<sup>(1)</sup>

This applies only to joint and survivor payouts.

If the benefit would be greater, the amount of your payments will be based on the current payout rate the Company uses for immediate annuity contracts.

**Assumed Investment Rate** 

An "Assumed Investment Rate" or "AIR" is the rate used to determine your first monthly Payout Payment per thousand dollars of account value in your Variable Investment Option. When you decide to enter the Payout Period, you will select your Payout Option, your Annuity Date, and the AIR. If you choose a higher AIR, the initial Annuity Payment will be higher, but later payments will increase more slowly during periods of good performance and decrease faster during periods of poor investment performance Once the AIR is established, it cannot be changed. Rates of 3%, 3.5%, 4.5%, 5% or a higher rate may be chosen if permitted by state law and regulations. If no AIR is chosen, the AIR will be 3.5%. The dollar amount of the variable income payments stays level if the net investment return equals the AIR. Your choice of AIR may affect the duration and frequency of payments, depending on the Payout Option selected. For example, a higher AIR will generate a higher initial Payout Payment, but as Payout Payments continue they may become smaller, and eventually could be less than if you had initially selected a lower AIR. The frequency of the Payout Payments may lessen to ensure that each Payout Payment is at least $25 per month.

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**Payout Payments on a Variable Basis** 

With a payout on a variable basis, you may select from your existing Variable Investment Options. Your payments will vary accordingly. This is due to the varying investment results that will be experienced by each of the Variable Investment Options you selected. The Payout Unit value is calculated just like the Purchase Unit value for each Variable Investment Option except that the Payout Unit value includes a factor for the AlR you select. For additional information on how Payout Payments and Payout Unit Values are calculated, see the SAI*.* 

In determining your first Payout Payment, an AIR of 3.5% is used (unless you select a higher rate as allowed by state law). If the net investment experience of the Variable Investment Option exceeds your AIR, your subsequent payments will be greater than your first payment. If the investment experience of the Variable Investment Option is lower than your AIR, your subsequent payments will be less than your first payment.

**Payout Payments on a Combination of a Fixed and Variable Basis** 

With a combination fixed and variable payout, you may choose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• From your existing Variable Investment Options (payments will vary); with a

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed payout (payment is fixed and guaranteed).

**Partial Annuitization** 

You may choose to annuitize a portion of the Account Value. This will, in essence, divide the Account Value into two parts. The current non-annuitized part would continue as before and you can continue to take withdrawals on this part of the Account. The annuitized part will effectively be moved to a new Payout Payment account, which will not allow any additional withdrawals. Thus, the death benefit in such a situation would be reduced to the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account, such as a payout for a guaranteed period. Full or partial commutations are not permitted.

**Payout Date** 

The payout date is the date elected by you on which the annuity Payout Payments will start. The date elected must be the first of any month. A request to start payments must be received in the Annuity Service Center on a form or through other media approved by VALIC. This request must be received by VALIC by at least the fifteenth (15th) day of the month prior to the month you wish your annuity payments to start. Your account will be valued ten days prior to the beginning of the month in which the Payout Payments will start.

The following additional rules also apply when determining the payout date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for a nonqualified Contract, an IRA, or a Roth IRA, is established by the terms of the contract, and generally can be any time from age 50 to age 85, and may not be later than age 85 without VALIC's consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The earliest payout date for all other qualified Contracts is generally subject to the terms of the employer-sponsored plan (including 403(b) plans and programs) under which the Contract is issued and the federal tax rules governing such Contracts and plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Distributions from qualified Contracts issued under employer-sponsored retirement plans generally are not permitted until after you stop working for the employer sponsoring the plan, unless you have experienced a qualifying financial hardship (or in the case of a 457(b) plan, an unforeseeable emergency) or unless you have become disabled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In certain cases, and frequently in the case of your voluntary deferrals to a 403(b) or a 401(k) plan, you may begin taking distributions when you attain age 59½ even if you are still working for the employer sponsoring the plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Except in the case of nonqualified Contracts, IRAs, and Roth IRAs, distributions generally must begin no later than April 1 following the calendar year you reach age 72 or the calendar year in which you retire, if later. Similar rules apply to IRAs, however distributions from those Contracts may not be postponed until after retirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All Contracts require distributions to commence within a prescribed period after the death of the Contract Owner/Participant, subject to the specific rules which apply to the type of plan or arrangement under which the contract is issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract may also impose minimum amounts for annuity payments, either on an annual or on a more frequent periodic basis.

For additional information on plan-level distribution restrictions and on the minimum distribution rules that apply to payments under 403(b), 401, 403(a) and 457 plans, simplified employee plans ("SEPs") or IRAs, see the "*Taxes*" section in this prospectus and the SAI.

**Payout Options** 

You may specify the manner in which your Payout Payments are made. You may select one of the following options:

1. ***Life Only*** — payments are made only to you during your lifetime. Under this option there is no provision for a death

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benefit for the Beneficiary. For example, it would be possible under this option for the Annuitant to receive only one Payout Payment if the Annuitant died prior to the date of the second payment, or two if the Annuitant died before the third payment.

2. ***Life with Guaranteed Period*** — payments are made to you during your lifetime, but if you die before the guaranteed period has expired, your Beneficiary can receive payments for the rest of your guaranteed period or take a lump-sum distribution.

3. ***Life with Cash or Unit Refund*** — payments are made to you during your lifetime. These payments are based upon your life expectancy and will continue for as long as you live. If you do not outlive the life expectancy calculated for you, upon your death, your Beneficiary may receive an additional payment. The additional payment under a fixed annuity, if any, is equal to the fixed annuity value of the Contract Owner's Account at the time it was valued for the payout date, less the Payout Payments. The additional payment under a variable annuity, if any, is equal to the variable annuity value of the Contract Owner's Account as of the date we receive Proof of Death, less the Payout Payments.

4. ***Joint and Survivor Life*** — payments are made to you during the joint lifetime of you and a second person. Upon the death of one, payments continue during the lifetime of the survivor. This option is designed primarily for couples who require maximum possible variable payouts during their joint lives and are not concerned with providing for beneficiaries at the death of the last survivor. For example, it would be possible under this option for the joint Annuitants to receive only one payment if both Annuitants died prior to the date of the second payment, or for the joint Annuitants to receive only one payment and the surviving Annuitant to receive only one payment if one Annuitant died prior to the date of the second payment and the surviving Annuitant dies prior to the date of the third payment. For example, if the Annuitant dies before receiving a Payout Payment the first Payout Payment will be made to the second designated person. If both the Annuitant and the second designated person die before the first Payout Payment is made, no Payout Payments will be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

5. ***Payment for a Designated Period*** — payments are made to you for a select number of years between five and 30. Upon your death, payments will continue to your Beneficiary until the designated period is completed.

**Payout Information** 

**Once your Payout Payments have begun, the option you have chosen may not be stopped or changed**. Any one of the Variable Investment Options may result in your receiving unequal payments during the Payout Period. If payments begin before age 59½, you may suffer unfavorable tax consequences, in the form of a penalty tax, if you do not meet an exception under federal tax law. See the "*Taxes*" section in this prospectus.

Under certain retirement plans, federal pension law may require that payments be made under the joint and survivor life payout option.

Most Payout Payments are made monthly. The first Payout Payment must total at least $25, and the annual payment must be at least $100. If the amount of a payment is less than $25, we reserve the right to reduce the frequency of payments so that each payment is at least $25, subject to any limitations under the Contract or plan.

**Impact of Advisory Program Fees on Payout Payments** 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee will reduce the annuitization benefit. The examples below assess the impact of the deduction of Advisory Program Fees on the Contract's value upon annuitization, assuming an initial $100 deposit.

1. If, at the payout date, the Contract value has increased to $120 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $119. Your Payout Payments will be based on a Contract value of $119.

2. If, at the payout date, the Contract value has decreased to $90 and you have had $1 deducted for the Advisory Program Fee, the Contract value is reduced to $89. Your Payout Payments will be based on a Contract value of $89.

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**Benefits Available Under the Contract**

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**The following tables summarize information about the benefits available under the Contract.** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Interest <br> Guaranteed Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments plus <br> interest<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Payable only if death occurs before age 70<br> •May not be available in all states<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Standard Death <br> Benefit<br>| &nbsp;&nbsp; Provides a death <br> benefit based on <br> the greater of <br> Account Value or <br> net Purchase <br> Payments<br>| Standard | No Charge | &nbsp;&nbsp;&nbsp; •Payable only during the Purchase Period<br> •Generally payable only if death occurs on <br> or after age 70<br> •Payable in any state where the interest <br> guaranteed death benefit is not available, <br> even if death occurs before age 70<br> •Withdrawals, including withdrawals to pay <br> your advisory fees, may significantly <br> reduce the benefit<br>|
| Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals may be subject to surrender <br> charges<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|
| No Charge <br> Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to <br> automatically <br> receive <br> withdrawals on a <br> regular basis <br> during the <br> Purchase Period <br> without surrender <br> charges<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Withdrawals must be made to you over a <br> period of not less than five years, and the <br> annual amount withdrawn may not exceed <br> 20% of Account Value at time of election<br> •Market value adjustments may apply to <br> amounts withdrawn or transferred from a <br> Multi-Year Enhanced Option<br> •May not change election once withdrawals <br> begin<br> •No more than one systematic withdrawal <br> election may be in effect at any time<br> •We reserve the right to discontinue any or <br> all systematic withdrawals or to change <br> the terms at any time<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| Loans | &nbsp;&nbsp; Provides tax-free <br> access to amounts <br> invested in Fixed <br> Account Options <br> (excluding Multi-<br> Year Enhanced <br> Options)<br>| Optional | &nbsp;&nbsp; $75 application <br> fee (per loan, <br> where permitted <br> by state law)<br> Maximum net <br> interest rate 6%<br>| &nbsp;&nbsp;&nbsp; •Available only during the Purchase Period<br> •May not be taken against amounts <br> invested in Variable Investment Options or <br> Multi-Year Enhanced Options<br> •Interest will accrue on outstanding loan <br> amounts<br> •Will automatically terminate an optional <br> Living Benefit<br> •Minimum loan amount is $1,000<br>|
| Advisory Program | &nbsp;&nbsp; The investment <br> advice service <br> provided by your <br> Investment <br> Adviser<br>| Optional | Not applicable | &nbsp;&nbsp;&nbsp; •A separate investment advisory fee and <br> agreement is required<br> •May not be available under your <br> employer's retirement plan or in <br> connection with your Contract<br> •Participation may automatically terminate <br> an optional Living Benefit<br> •If you pay any investment adviser fee from <br> the Contract, any deduction may reduce <br> the death benefit, optional living benefit <br> and annuity benefits, and may be subject <br> to surrender charges, federal and state <br> income taxes and a 10% federal penalty <br> tax.<br> •You are encouraged to discuss the <br> Advisory Program with your financial <br> professional and the impact that Advisory <br> Fees may have on your Contract Value <br> before electing to enroll in the Advisory <br> Program.<br> •For new investors, we no longer honor <br> investment adviser transfer requests in <br> connection with Advisory Programs that <br> are offered through third-party Investment <br> Advisers.<br>|
| American Home <br> Guarantee<br>| &nbsp;&nbsp; For certain <br> Contracts and <br> certificates, <br> provides an <br> additional financial <br> guarantee with <br> respect to our <br> insurance <br> obligations<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Applies only to Contracts or certificates <br> issued on December 29, 2006 or earlier<br> •Additional financial guarantee is subject to <br> American Home's financial strength and <br> claims-paying ability<br> •Does not guarantee Contract value or the <br> investment performance of the Variable <br> Investment Options<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| DCA Program | &nbsp;&nbsp; Allows you to <br> systematically <br> transfer a <br> specified dollar <br> amount or <br> percentage of <br> contract value <br> between eligible <br> investment <br> options<br>| Optional | No Charge | &nbsp;&nbsp;&nbsp; •Systematic transfers may only occur on a <br> monthly basis and will not count towards <br> the number of free transfers per contract <br> year<br> •Minimum Purchase Payment amounts <br> apply<br> •Only available in newly issued series 1 (in <br> an individual IRA) or series 9 (NQDA)<br> •Not available in all states<br>|

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|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +6 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 6%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is reduced in any benefit <br> year in which withdrawals are taken, and <br> not available in any benefit year in which <br> cumulative withdrawals are greater than <br> 6% of the Benefit Base<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | |
|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** |
| IncomeLOCK +8 | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed for <br> guaranteed <br> lifetime income, <br> plus the <br> opportunity to <br> increase income <br> by locking in the <br> greater of either <br> the highest <br> anniversary value <br> or an annual <br> Income Credit of <br> up to 8%<br>| Optional | &nbsp;&nbsp; For Contracts <br> purchased May 1, <br> 2012 through <br> December 25, <br> 2012<br> 2.60%<br> One Covered <br> Person / 3.10%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br> For Contracts <br> purchased on all <br> other dates<br> 2.20%<br> One Covered <br> Person / 2.70%<br> Two Covered <br> Persons (as a <br> percentage of <br> Benefit Base)<br>&nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseMay not <br> begin taking benefit withdrawals prior to <br> age 45<br> •All withdrawals during the first 12 benefit <br> years may significantly reduce the benefit<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Investment restrictions limit available <br> investment options<br> •Income Credit may be added only for the <br> first 12 benefit years<br> •Income Credit is not available in any <br> benefit year in which a withdrawal is taken<br> •Minimum Benefit Base is not available on <br> the 12th benefit anniversary if any <br> withdrawal is taken during first 12 benefit <br> years<br> •Guaranteed withdrawal percentage may be <br> reduced once Account Value has been <br> reduced to zero<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May not be cancelled by you prior to the <br> 5th benefit year<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Participation in Guided Portfolio <br> Advantage<sup>SM</sup> / Guided Portfolio Services <br> may terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Benefits** | **Benefits** | **Benefits** | **Benefits** | **Benefits** |
| **Name of Benefit** | **Purpose** | &nbsp;&nbsp; **Is Benefit Standard** <br> **or Optional**<br>| **Maximum Fee** | **Brief Description of Restrictions / Limitations** |
| IncomeLOCK | &nbsp;&nbsp; A guaranteed <br> minimum <br> withdrawal benefit <br> designed to help <br> you create a <br> guaranteed <br> income stream for <br> a specified period <br> of time or as long <br> as you live (and <br> potentially a <br> specified period of <br> time for your <br> spouse if he or <br> she continues the <br> Contract and this <br> benefit after your <br> death), plus the <br> opportunity to <br> increase income <br> by locking in the <br> highest <br> anniversary value<br>| Optional | &nbsp;&nbsp; 0.95%\*<br> (as a percentage <br> of the Benefit <br> Base)<br>| &nbsp;&nbsp;&nbsp; •No Longer Available for PurchaseIneligible <br> for highest anniversary value evaluation <br> period extension if any previous extension <br> opportunity was not elected or age <br> requirements are not satisfied<br> •Maximum charge may increase if <br> evaluation period is extended<br> •Excess withdrawals may significantly <br> reduce or terminate the benefit<br> •Withdrawal percentage depends on timing <br> of the first withdrawal<br> •Eligible for lifetime withdrawals only if the <br> first withdrawal is taken on or after the <br> benefit anniversary following your 65th <br> birthday. If, after your death, your spouse <br> continues the Contract and continued <br> withdrawals under this guaranteed <br> minimum withdrawal benefit, the <br> withdrawals are for a specified period of <br> time, not the spouse's life<br> •Investment restrictions may limit available <br> investment options<br> •Ineligible Purchase Payments will not <br> increase the Benefit Base<br> •May be cancelled by you on the 5th or <br> 10th benefit anniversary or any benefit <br> anniversary thereafter<br> •Taking a loan under the Contract may <br> terminate the benefit<br> •Other events will automatically terminate <br> the benefit<br> •May not be re-elected or reinstated after <br> termination<br> •Terms and conditions vary based on date <br> of election<br>|

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\* If you have not elected an extension of the benefit's highest anniversary value evaluation period, the maximum annual fee rate is 0.90%. If you elected to extend the benefit's evaluation period, your maximum annual fee rate may be as high as 1.15%, and your maximum annual fee rate may increase beyond 1.15% if the Company offers an extension beyond the initial extension. See "Appendix B – Living Benefits."

**Advisory Program**

The Contract may be used where you have engaged an Investment Adviser to provide advice regarding the periodic allocation of investments within the Contract. As long as you are enrolled in an Advisory Program, your Investment Adviser will provide you with investment advice and will be responsible for providing transfer and reallocation instructions to VALIC. You may terminate an Advisory Program at any time. If you terminate the Advisory Program, your Contract will remain in force.

Your Investment Adviser is not acting on VALIC's behalf but rather is acting on your behalf. Whether your Investment Adviser is VFA or a third-party, VALIC is not responsible for any investment advice that is provided to you by your Investment Adviser. VALIC does not offer advice about how to allocate your Account Value. VALIC is not responsible for any recommendations that your Investment Adviser makes, any investment models or asset allocation programs they choose to follow, or any specific transfers that are made on your behalf.

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*For new investors, we no longer honor transfer instructions in connection with Advisory Programs that are offered through third-party Investment Advisers.*

*Advisory Agreement and Fees* 

**When you enroll in an Advisory Program you will enter into an investment advisory agreement with your Investment Adviser ("Advisory Agreement"). VALIC is not a party to the Advisory Agreement.** 

**Your Investment Adviser may direct VALIC to withdraw a specified amount from your Account Value for the payment of advisory fees under the Advisory Program (the "Advisory Program Fee") pursuant to authorizations that you have provided to your Investment Adviser.** If you are enrolled in an Advisory Program with VFA, our affiliate, VALIC will be provided with a copy of your Advisory Agreement, which provides for authorization by you for VALIC to deduct the Advisory Program Fee from your Account Value. The Advisory Program Fee charged by your Investment Adviser is in addition to any fees and expenses charged under your Contract. The Advisory Program Fee will be calculated by applying the applicable fee schedule to the Account Value at each calendar quarter end and will be deducted from your Account Value within fifteen (15) days after the end of such calendar quarter. The Advisory Program Fee will be based on the value of assets in the account eligible to be managed in the Advisory Program. If you enrolled in the Advisory Program during the quarter, you pay a fee only for those days in which you were enrolled in the Advisory Program. If, prior to a quarter-end, the Advisory Program is terminated, the entire Account Value is transferred out of your account, or your Plan Sponsor terminates the Advisory Program, we will not deduct an Advisory Program Fee for that quarter.

Partial withdrawals, including those taken to pay the Advisory Program Fee, can reduce certain benefits guaranteed under the Contract, including Contract death benefits and other annuity benefits. This reduction of these guaranteed benefits resulting from the withdrawal for payment of the Advisory Program Fees will be the dollar amount of the fee assessed by your investment adviser, and, as described above, is based on a percentage of the Account Value managed by the Advisory Program. For a more detailed explanation about how the assessment of the Advisory Program Fees can affect the benefits under this Contract, please see **Impact of Advisory Program Fees** in the *"Description of Insurance Company, Registered Separate Account, and Investment Options"* and *"Annuity Period"* sections.

If your Contract is an IRA or Roth IRA, partial withdrawals to pay the Advisory Program Fee generally can qualify as expenses of the IRA and thus qualify as non-taxable. Partial withdrawals from a non-qualified Contract are treated as a taxable distribution. Effective January 1, 2020, however, fees taken from a non-qualified individual contract used to pay the Advisory

Program Fee for the Advisory Programs offered through VFA are not considered distributions or withdrawals from the account for tax purposes and therefore not treated as a taxable distribution beginning with the 2020 tax year. If you are under age 59 ½, withdrawals may be subject to an additional 10% tax. If you participate in a third-party Advisory Program, which means VFA is not your Investment Adviser, partial withdrawals, including Investment Adviser fees, taken from a non-qualified individual contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution. You should consult with your tax advisor for any advice regarding potential tax considerations relating to the payment of the Advisory Program Fee from your Contract.

If VFA is your Investment Adviser, the Advisory Program Fee must be withdrawn from your Contract. If you enroll in a third-party Advisory Program, a fee for that program might be paid either by you directly (from assets outside of the Contract) or from the Contract, depending upon the provisions of that program and the type and frequency of the payment required. You should consult with your Investment Adviser about any questions related to the payment of the fee.

Please see the "*Taxes*" section and consult your tax professional regarding the impact of deducting advisory fees before making any election to do so.

*Reallocations & Transfer Instructions* 

While the Advisory Program is in place, you are prohibited from making transfers among Investment Options in the Contract. During such period, transfer instructions may only be provided by the Investment Adviser. If you terminate the Advisory Program, you may make transfers among the Investment Options subject to the transfer restrictions noted in the "*General Description of the Contracts*" section of this Prospectus.

Unless you direct us otherwise, your Investment Adviser will forward instructions regarding the allocation of your Account Value, and will request financial transactions involving investment options. **If your Investment Adviser has this authority, we deem that all such transactions that are directed by your Investment Adviser with respect to your Contract have been authorized by you.** You will receive a confirmation of any financial transactions involving the purchase or sale of Purchase Units. You must contact VALIC immediately by calling 1-800-448-2542 to request a termination form if and when you want to revoke such authority. We will not be responsible for acting on instructions from your Investment Adviser until we receive notification of the revocation of such person's authority. We may also suspend, cancel or limit the Investment Adviser's authorization at any time. In addition, we may restrict the Investment Options available for transfers or allocation of Purchase Payments. We will notify you and your Investment Adviser if we implement any such restrictions or prohibitions.

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Transfers and reallocations made by your Investment Adviser are subject to the restrictions on transfers between Investment Options that are discussed in the "*General Description of the Contracts*" section of this Prospectus.

*Termination of the Advisory Program* 

You may terminate the Advisory Program at any time. However, the terms and conditions of how to terminate the Advisory Program will be set forth in your Advisory Agreement. Please consult with your Investment Adviser if you have questions about terminating the Advisory Program. We may continue to rely on instructions from your Investment Adviser until we receive notice of termination of the Advisory Agreement. If you want to notify us about the termination of your Advisory Program, please call 1-800-448-2542 to request the termination form. If you terminate the Advisory Program, your Contract will remain in force.

In order for you to transfer Account Value among Investment Options, you must first terminate the Advisory Program.

**Death Benefits**

The Contracts will pay death benefits during either the Purchase Period or the Payout Period.

*The Process* 

VALIC requires that complete and acceptable documentation and paperwork be received from the Beneficiary in order to begin the death benefit payment process. First, Proof of Death is required. Proof of Death is defined as a certified copy of the death certificate, a certified copy of a decree of a court of competent jurisdiction as to death or a written statement by an attending physician. Additionally, the Beneficiary must include an election specifying the distribution method and any other form required by VALIC or a regulator to process the claim. The account will not be valued, and any payments will not be made until all paperwork is complete and in a form acceptable to VALIC. Your Beneficiary may contact us at 1-800-448-2542 with any questions about required documentation and paperwork. Death benefits are paid only once per Contract.

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit will be payable. Please see Impact of the Deduction of Advisory Program Fees on Death Benefit below regarding impacts to your death benefit due to the deduction of Advisory Program Fees.

*Beneficiary Information* 

The Beneficiary may receive death benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a lump sum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the form of an annuity under any of the Payout Options;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In partial payments over the Beneficiary's life expectancy (where permitted); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In a manner mutually agreeable between the Beneficiary and VALIC that is in accordance with applicable laws and regulations.

Payment of any death benefits must be within the time limits set by federal tax law, if any. In the case of an IRA, a spousal Beneficiary may continue the Contract or may roll the funds over to an IRA. If the Beneficiary elects a life annuity for a designated or fixed period, the guarantee period cannot exceed the Beneficiary's life expectancy. After choosing a payment option, a Beneficiary may exercise many of the investment options and other rights that the Participant or Contract Owner had under the Contract.

*Special Information for Nonqualified Contracts* 

It is possible that the Contract Owner and the Annuitant under a nonqualified Contract may not be the same person. If this is the case, and the Contract Owner dies, there will be no death benefit payable since the death benefit is only due in the event of the Annuitant's death. However, the Contract will be assigned to the contingent owner, if any, or to the Contract Owner's estate. Such transfers may be considered a taxable event by the IRS. In general, payments received by your Beneficiaries after your death are taxed in the same manner as if you had received the payments. See the *"Taxes*" section.

*During the Purchase Period* 

Two types of benefits are available if death occurs during the Purchase Period: interest guaranteed death benefit and standard death benefit. The Beneficiary will receive the greater of these two benefits. The interest guaranteed death benefit ensures that the Beneficiary receives at least a minimum death benefit under the Contract, even if invested in Variable Investment Options, while the standard death benefit guarantees the return of Purchase Payments less any prior withdrawals.

As indicated above, a Contract Owner may elect to annuitize only a certain portion and leave the remaining value in the account. The death benefit in such situations would include the value of the amount remaining in the account minus the amount applied to Payout Payments. Depending on the payout option selected, there may also be a death benefit from the annuitized portion of the account.

*Death Benefit Before Age of 70* 

The interest guaranteed death benefit is payable when death occurs prior to your reaching the age of 70, provided that the benefit is available in your state.

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The interest guaranteed death benefit is generally calculated as is shown below. The calculation becomes more complex based upon the transfers between available investment options or product exchanges. Thus, the death benefit may only be calculated for a Beneficiary once VALIC receives all paperwork, including satisfactory proof of death, complete and in a form acceptable to VALIC.

*Step 1*: Determine your Fixed Account Option Value by taking the greater of:

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| | |
|:---|:---|
|  | Value of Fixed Account Option on date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Fixed Account <br> Option<br>|
|  | – **(minus)** |
|  | Amount of all prior withdrawals from the Fixed Account <br> Option, charges and any portion of Account Value <br> applied under a Payout Option<br>|

---

*Step 2*: Determine your Variable Investment Option Value by taking the greater of:

---

| | |
|:---|:---|
|  | Value of Variable Investment Options on date all <br> paperwork is complete and in a form acceptable to <br> VALIC<br>|
| **or** |  |
|  | 100% of Purchase Payments invested in Variable <br> Investment Options<br>|
|  | – **(minus)** |
|  | Amount of prior withdrawals (out of) or transfers (out <br> of) the Variable Investment Options<br>|
|  | + **(plus)** |
|  | Interest at an annual rate as specified in your Contract |

---

*Step 3*: Add step 1 + 2 = Death Benefit

For purposes of this calculation amounts transferred into the Variable Investment Option will be treated as Purchase Payments.

This value may be adjusted if the total amount of any death benefit exceeds the Account Value.

*Death Benefit On or After Age 70* 

The standard death benefit is payable if death occurs on or after age 70, or at any age in a state where the interest guaranteed death benefit is not available.

The standard death benefit will be the greater of:

---

| |
|:---|
| Your Account Value on the date all paperwork is <br> complete and in a form acceptable to VALIC<br>|
| **or** |
| 100% of Purchase Payments (to Variable Investment <br> Options and/or Fixed Account Options)<br>|
| **(minus)** |
| Amount of all Prior Withdrawals, Charges and any <br> portion of Account Value applied under a Payout Option<br>|

---

*Adjusted Purchase Payment Amount* 

The information below is applicable to you only if you received a Death Benefit Endorsement or Amendatory Endorsement with your Contract or certificate.

If the total amount of any death benefit payable from the Variable Investment Options and Fixed Account Options under the Contract exceeds the Account Value as of the date all paperwork is complete and in a form acceptable to VALIC, then the total death benefit paid may be adjusted to limit the death benefit due to withdrawals. An Adjusted Purchase Payment Amount will be calculated, on the date all paperwork is complete and in a form acceptable to VALIC, determined as follows:

---

| | |
|:---|:---|
| A. | 100% of Purchase Payments |
| – | **(minus)** |
| B. | Gross Withdrawals (see below) and any portion of <br> Account Value applied under a Payout Option<br>|
| + | **(plus)** |
| C. | Interest on the result of A minus B at an annual rate as <br> specified in your Contract (see below).<br>|

---

Each "Gross Withdrawal" is calculated by multiplying the Adjusted Purchase Payment Amount by a fraction. The numerator of the fraction is the amount of the withdrawal plus any associated fees and charges. The denominator of the fraction is the Account Value immediately prior to the withdrawal. Thus, each Gross Withdrawal will proportionately reduce the Adjusted Purchase Payment Amount. The interest adjustment in C. above is added only if you are under age 70 at the time of death.

The Contract death benefit and the Adjusted Purchase Payment Amount are compared. The lesser amount is then compared to the Account Value, and the beneficiary will receive the greater of those two amounts.

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*During the Payout Period* 

If the Annuitant dies during the Payout Period, the Beneficiary may receive a death benefit depending on the payout option selected. The amount of death benefit will also depend on the payout option that you selected. The payout options available are described in the "*Annuity Period*" section of this prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life only option or joint and survivor life option was chosen, there will be no death benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If the life with guaranteed period option, life with cash or unit refund option or payment for a designated period option was chosen, and the entire amount guaranteed has not been paid, the Beneficiary may choose one of the following within 60 days after death benefits are payable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Receive the present value of any remaining payments in a lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Receive the remaining payments under the same terms of the guaranteed period option chosen by the deceased Annuitant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Receive the present value of any remaining payments applied under the payment for a designated period option for a period equal to or shorter than the period remaining. Spousal Beneficiaries may be entitled to more favorable treatment under the Contract and/or under federal tax law, including additional permitted delays before beginning distributions, as well as being able to continue the Contract as their own and not as a beneficiary account.

*Impact of the Deduction of Advisory Program Fees on Death Benefit* 

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the death

benefit. The examples below assess the impact of the Advisory Program Fee on the Contract's death benefit assuming an initial $100 deposit and no additional payments and no withdrawals.

1. If, at the end of the year, the Contract value increases to $120 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $119. If you die, your Contract's death benefit is $119.

2. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee will not reduce the death benefit which will be at least $100 (your premium payment) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Please note that if you are participating in an Advisory Program offered through a third-party Investment Adviser, the example below instead applies. Example 2 does not apply to you.** 

3. If, at the end of the year, the Contract value decreases to $90 and you pay a $1 Advisory Program Fee, the Contract value is reduced to $89. However, the Advisory Program Fee **<u>will</u>** reduce the death benefit to $99 (your premium payment less Advisory Program Fees deducted) (or higher if you are younger than 70 at your death) due to the Death Benefit Contract guarantee.

**Purchases and Contract Value**

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The Purchase Period begins when your first Purchase Payment is made and continues until you begin your Payout Period. This period may also be called the accumulation period, as you save for retirement. Changes in the value of each Variable Investment Option and Fixed Account Option are reflected in your overall Account Value. Thus, your investment choices and their performance will affect the total Account Value that will be available for the Payout Period. The amount, number, and frequency of your Purchase Payments may be determined by the retirement plan for which your Contract was purchased. The Purchase Period will end upon death, upon surrender, or when you complete the process to begin the Payout Period.

**Account Establishment** 

You may establish an account through an investment professional. Initial Purchase Payments must be received by VALIC either with, or after, a completed application. If part of an employer-sponsored retirement plan, your employer is responsible for remitting Purchase Payments to us. The employer is responsible for furnishing instructions to us (a premium flow report) as to the amount being applied to your account (see below). Purchase Payments can also be made by you for IRAs and certain nonqualified Contracts.

The maximum single payment that may be applied to any account without prior Home Office approval is $1,000,000.

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Minimum initial and subsequent Purchase Payments are as follows:

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| | | |
|:---|:---|:---|
| **Contract Type** | **Initial**<br> **Payment**<br>| **Subsequent**<br> **Payment**<br>|
| Periodic Payment | &nbsp;&nbsp; $30 | &nbsp;&nbsp; $30 |
| Single Payment | &nbsp;&nbsp; $1000 | &nbsp;&nbsp; N/A |

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Periodic Payment minimums apply to each Periodic Payment made. The Single Payment minimum applies to each of your accounts.

When an initial Purchase Payment is accompanied by an application, we will promptly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accept the application and establish your account within 2 Business Days. We will also apply your Purchase Payment by crediting the amount, effective the date we accept your application, to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Request additional information to correct or complete the application. In the case of an individual variable annuity Contract, we will return the Purchase Payments within 5 Business Days if the requested information is not provided, unless you otherwise so specify. Once you provide us with the requested information, we will establish your account and apply your Purchase Payment, effective the date we accept your application, by crediting the amount to the Variable Investment Options or Fixed Account Options selected; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reject the application and return the Purchase Payment.

If we receive Purchase Payments from your employer before we receive your completed application or enrollment form, we will not be able to establish a permanent account for you. If this occurs, we will take one of the following actions:

*Return Purchase Payments*. If we do not have your name, address or Social Security Number ("SSN"), we will return the Purchase Payment to your employer unless this information is immediately provided to us; or

*Employer-Directed Account*. At the direction of your employer, provided on a form acceptable to VALIC and accompanied by certain necessary information (such as name, address, and SSN), we may establish an account for you. In that case we will deposit your Purchase Payment in an "Employer-Directed" account invested in a Money Market Division, or other Investment Options chosen by your employer, and provide a Contract or certificate. If you want an investment professional to assist you in allocating these amounts, you will first need to provide certain personal and financial information that may be required by the investment professional in order to provide such assistance; or

*Starter Account*. If we have your name, address and SSN, but we do not have an agreement with your employer for employer-directed accounts, we will deposit your Purchase Payment in a "starter" account invested in the Money Market Division option available for your plan or other Investment Options chosen by your employer. We will send you a follow-up letter requesting the information necessary to complete the application, including your allocation instructions. If we do not receive the necessary information within 105 days, we may return the Purchase Payment to your employer or convert the account to an "unsolicited" account which would be subject to many of the same restrictions as a starter account. You may not transfer these amounts until VALIC has received a completed application or enrollment form.

If mandated under applicable law, we may be required to reject a Purchase Payment. We may also be required to block a Contract Owner's account and thereby refuse to pay any request for transfers, withdrawals, surrenders, loans or death benefits, until instructions are received from the appropriate regulatory authority.

**When Your Account Will Be Credited** 

Depending on your retirement plan, Purchase Payments may be made by your employer for your account or by you for an IRA or certain nonqualified Contracts. It is the employer's or the individual's responsibility to ensure that the Purchase Payment can be promptly posted to the appropriate account(s).

A Purchase Payment must be "in good order" before it can be posted to your account. "In good order" means fully and accurately completed form(s) and/or instructions, including necessary documentation, and that all required information and/or documentation to any given transaction has been received by us and that, where applicable, the funds (check, wire, or ACH) clearly identify the individual SSN or Group Number to which they are to be applied. To ensure efficient posting for Employer-Directed accounts, Purchase Payment information must include complete instructions, including the group name and number, each employee's name and SSN, contribution amounts (balanced to the penny for the total purchase) and the source of the funds (for example, employee voluntary, employer mandatory, employer match, transfer, rollover or a contribution for a particular tax year). Purchase Payments for individual accounts must include the name, SSN, and the source of the funds (for example, transfer, rollover, or a contribution for a particular tax year).

If a subsequent Purchase Payment is in good order as described and is received by our bank by Market Close, the appropriate account(s) will be credited the Business Day of receipt. Purchase Payments in good order received after Market Close will be credited on the next Business Day. See **Account Establishment** above for information about initial Purchase Payments.

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Note that if the Purchase Payment is not in good order, the employer or individual will be notified promptly. No amounts will be posted to any accounts until all issues with the Purchase Payment have been resolved. If a Purchase Payment is not received in good order, the purchase amounts will be posted effective the Business Day all required information is received.

We will allocate Purchase Payments (less any charges) to the Variable Investment Options and Fixed Account Options selected by you. Each selection must be a whole percentage of Purchase Payments.

Throughout the duration of the Contract, VALIC may close one or more of the Fixed Account Options to deposits or transfers, and to transfers among the Investment Options, with advance written notice. VALIC may make the Fixed Account Options available or close the Fixed Account Options as frequently as it determines at any point in time while the Contract is in force, provided that VALIC gives advance written notice in each case.

**Purchase Units** 

A Purchase Unit is a unit of interest owned by you in your Variable Investment Option. Purchase Unit values are calculated each Business Day following Market Close. Purchase Units may be shown as "Number of Shares" and the Purchase Unit values may be shown as "Share Price" on some account statements.

**Calculation of Value for Fixed Account Options** 

The Fixed Account Plus, Short-Term Fixed Accounts, and DCA Fixed Accounts are part of the Company's general assets. The Multi-Year Option may be invested in either the general assets of the Company or in a separate account of the Company, depending upon state requirements. You may allocate all or a portion of your Purchase Payment to the Fixed Account Options listed in **Fixed Account Options** in the "*Description of Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus. Purchase Payments you allocate to these Fixed Account Options are guaranteed to earn at least a minimum rate of interest. Interest is paid on each of the Fixed Account Options at declared rates, which may be different for each option. With the exception of a market value adjustment, which generally will be applied to withdrawals or transfers from a Multi-Year Option prior to the end of an MVA term, we bear the entire investment risk for the Fixed Account Options. All Purchase Payments and interest earned on such amounts in your Fixed Account Option will be paid regardless of the investment results experienced by the Company's general assets. The minimum amount to establish each new Multi-Year Option guarantee period (MVA Band), as described in the Contract, may be changed from time to time by the Company.

The value of your Fixed Account Option is calculated on a given Business Day as shown below:

Value of Your Fixed Account Options\*

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| | |
|:---|:---|
| **=** | **(equals)** |
|  | &nbsp;&nbsp; All Purchase Payments made to the Fixed Account <br> Options<br>|
| **+** | **(plus)** |
|  | &nbsp;&nbsp; Amounts transferred from Variable Investment <br> Options to the Fixed Account Options<br>|
| + | **(plus)** |
|  | All interest earned |
| – | **(minus)** |
|  | &nbsp;&nbsp; Amounts transferred or withdrawn from Fixed Account <br> Options (including applicable fees and charges)<br>|

---

\*

This value may be subject to a market value adjustment under the Multi-Year Option.

**Calculation of Value for Variable Investment Options** 

You may allocate all or a portion of your Purchase Payments to the Variable Investment Options listed in this prospectus as permitted by your retirement program. An overview of each of the Variable Investment Options may be found in "*Appendix A – Investment Options Available Under the Contract*" and **Variable Investment Options** in the "*Description of the Insurance Company, Registered Separate Account, and Investment Options*" section in this prospectus and in each Portfolio Company's prospectus. The Purchase Unit value of each Variable Investment Option will change daily depending upon the investment performance of the underlying Portfolio Company (which may be positive or negative) and the deduction of the Separate Account Charges. See "*Charges and Adjustments*." Your account will be credited with the applicable number of Purchase Units, including any dividend or capital gains per share declared on behalf of the underlying Portfolio Company as of that day. The number of Purchase Units you are credited is calculated the day we process your Purchase Payment. Please see the **When Your Account Will Be Credited** section above.

The Purchase Unit value is determined by multiplying the Purchase Unit value for the preceding Business Day by a factor for the current Business Day. The factor is determined by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. dividing the net asset value per share of the Underlying Portfolio Company at the end of the current Business Day, plus any dividend or capital gains per share declared on behalf of the Underlying Portfolio Company as of that day, by the net asset value per share of the Underlying Portfolio Company for the previous Business Day; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. multiplying it by one minus all applicable daily asset-based charges.

We determine the number of Purchase Units credited to your contract by dividing the Purchase Payment by the Purchase Unit value for the specific Variable Investment Option.

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If the Purchase Payment is in good order as described and is received by us by Market Close, the appropriate account(s) will be credited the Business Day of receipt and will receive that Business Day's Purchase Unit value. Purchase Payments in good order received by us after Market Close will be credited the next Business Day and will receive the next Business Day's Purchase Unit value. Because Purchase Unit values for each Variable Investment Option change each Business Day, the number of Purchase Units your account will be credited with for subsequent Purchase Payments will vary. **Each Variable Investment Option bears its own investment risk. Therefore, the value of your account may be worth more or less at retirement or withdrawal and the entire loss of principal is possible.** 

During periods of low short-term interest rates, and in part due to Contract fees and expenses, the yield of the Goldman Sachs VIT Government Money Market Fund may become extremely low and possibly negative. If the daily dividends paid by the underlying Portfolio Company are less than the daily portion of the Separate Account Charges, the Purchase Unit value will decrease. In the case of negative yields, your investment in the Variable Investment Option, which invests in the Goldman Sachs VIT Government Money Market Fund, will lose value.

**Stopping Purchase Payments** 

You may stop Purchase Payments at any time. You may resume Purchase Payments thereafter during the Purchase Period. The value of the Purchase Units will continue to vary, and your

Account Value will continue to be subject to charges. The Account Value will be considered surrendered when you begin the Payout Period. You may not make Purchase Payments during the Payout Period.

If both your Account Value and Purchase Payments (less any withdrawals) fall below $300, and you do not make any Purchase Payments for at least a two-year period, we may close the account and pay the Account Value to the Participant. We will not assess a surrender charge in this instance. Any such account closure will be subject to applicable distribution restrictions under the Contract and/or under your employer's plan.

**Principal Underwriter** 

The principal underwriter of the Contracts is Corebridge Capital Services, Inc. ("CCS" or "Distributor"). CCS, an affiliate of the Company due to common ownership, is located at 30 Hudson Street, 16<sup>th</sup> Floor, Jersey City, NJ 07302.

**Impact of Deduction of Advisory Program Fee on Purchase Payments** 

If you are enrolled in an Advisory Program, either through our affiliate, VFA, or through a third-party investment adviser, and the Advisory Program Fee is deducted from your Contract value, the deduction of such fee will result in reduction of Purchase Units by the amount of the fee.

**Surrenders and Withdrawals**

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**When Surrenders Are Allowed** 

You may withdraw all or part of your Account Value at any time before the Payout Period begins if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under federal and state law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• allowed under your employer's plan.

For Purchase Payments that are contributions made under your employer's plan, such as a 401(a) or (k) qualified cash or deferred arrangement or a 403(b) plan, surrenders are subject to the terms of the plan, in accordance with the Code. Qualified plans often require certain conditions to be met before a distribution or withdrawal may take place. See **Surrender Restrictions** below*.* 

For an explanation of charges that may apply if you surrender your Account Value, see the "*Charges and Adjustments*" section in this prospectus*.* Additionally, you may incur a 10% federal tax penalty for partial or total surrenders made before age 59½.

*Delay of payment.* We may be required under applicable law to block a request for a surrender until we receive instructions from the appropriate regulator, due to the USA Patriot Act. In

addition, we may defer making payments from the Fixed Account Options for up to six months, or less, if required by law. If payment is deferred, interest will accrue until the payment is made.

VALIC may be required to suspend or postpone the payment of a withdrawal for more than 7 days when: (1) the NYSE is closed (other than a customary weekend and holiday closings); (2) trading with the NYSE is restricted; (3) an emergency exists such that disposal of or determination of the value of shares of the Variable Investment Options is not reasonably practicable; or (4) the SEC, by order, so permits for the protection of Contract Owners.

**Surrender Process** 

If you are allowed to surrender all or a portion of your Account Value during the Purchase Period as noted above, then you must complete a surrender request form or information required in other approved media, and submit it to the Annuity Service Center. We will mail the surrender value to you within seven calendar days after we receive your request if it is in good order.

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We may be required to suspend or postpone payments if redemption of an underlying Portfolio Company's shares have been suspended or postponed. See the applicable Portfolio Company prospectus for a discussion of the reasons why the redemption of shares may be suspended or postponed*.* 

We may receive a surrender for a Purchase Payment that has not cleared the banking system. We may delay payment of that portion of your surrender value until the check or the electronic funds transfer clears.

**Amount That May Be Surrendered** 

The amount that may be surrendered during the Purchase Period can be determined as follows:

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| | | |
|:---|:---|:---|
| Allowed<br> Surrender<br> Value<br>| **= (equals)** | &nbsp;&nbsp; Your Account Value<sup>(1)</sup> <br>- **(minus)**<br> Any Applicable<br> Surrender Charge<br>|

---

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<sup>(1)</sup>

Equals the Account Value next computed after your properly completed request for surrender is received in the Annuity Service Center.

There is no guarantee that the surrender value in a Variable Investment Option will ever equal or exceed the total amount of your Purchase Payments received by us. The surrender value in a Fixed Account Option will never be less than the Purchase Payments allocated to the Fixed Account Option (less amounts transferred to a Variable Investment Option or withdrawn from the Fixed Account Option).

**Surrender Restrictions** 

Generally, Code section 403(b)(11) permits total or partial distributions from your voluntary contributions to a 403(b) contract only on account of hardship (employee contributions only without accrued interest), attainment of age 59½, separation from service, death or disability. Similar restrictions apply to any amount transferred to a 403(b) contract from a 403(b)(7) custodial account. In addition, beginning for contracts issued on or after January 1, 2009, employer contributions and non-elective contributions to a 403(b) annuity contract are subject to restrictions specified in Treasury regulations as specifically imposed under the employer's plan.

Under the ***Texas State Optional Retirement Program***, no surrender or partial surrender will be allowed except upon attainment of age 70½, retirement or other termination of employment or death.

Under the ***Florida State Optional Retirement Program***, no surrender or partial surrender of Purchase Payments made by the employer will be allowed except upon termination of employment, retirement or death. Benefit payments based on payments from the employer may not be paid in a lump sum or

for a period certain, but must be paid under a life contingency option, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• death benefits; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• certain small amounts approved by the State of Florida.

Under the ***Louisiana Optional Retirement Plan***, retirement benefits must be paid in the form of a lifetime income option.

Single sum surrenders and partial surrenders out of the plan are not permitted, unless they are rollovers to another qualified plan or IRA, except for death benefits.

Other employer-sponsored plans may also impose restrictions on the timing and form of surrenders from the Contract.

**Partial Surrenders** 

You may request a partial surrender of your Account Value at any time during the Purchase Period, subject to any applicable surrender restrictions. A partial surrender plus any surrender charge will reduce your Account Value. You may specify an amount to be taken from each Portfolio Company or the amount will be distributed pro-rata against all Portfolio Companies. If you do not specify, the distribution will be taken pro-rata against the Variable Investment Options and Fixed Account Options.

The reduction in the number of Purchase Units credited to your Variable Investment Option Account Value will equal:

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| | | |
|:---|:---|:---|
| The amount<br> surrendered from the<br> Variable Investment Option<br> + **(plus)**<br> Any surrender charge<br>| &nbsp;&nbsp; ÷<br> **(divided**<br> **by)**<br>| &nbsp;&nbsp; Your Purchase Units<br> next computed after the<br> written request for<br> surrender is received at<br> the Annuity Service Center<br>|

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The surrender value will be reduced by the full quarterly account maintenance charge in the case of a full surrender during a quarter. If your Account Value falls below a certain dollar amount and you do not make a Purchase Payment over a certain period of time, as specified in your Contract, we may close your account and pay the Account Value to you.

**Systematic Withdrawals** 

You may elect to withdraw all or part of your Account Value under a systematic withdrawal method as described in your Contract ("No Charge" systematic withdrawals). There will be no surrender charge for withdrawals using this method, which provides for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments to be made to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment over a stated period of time, but not less than five years; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payment of a stated yearly dollar amount or percentage (the amount or percentage may not exceed 20% of your Account Value at the time election is made).

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We may require a minimum withdrawal amount under this method. The portion of your account that has not been withdrawn will continue to receive the investment return of the Variable Investment Options that you selected. You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the funds in which you are invested, including the Multi-Year Option. A market value adjustment may apply to systematic withdrawals unless you choose the Fixed Interest Only payment option. Once begun, a "No Charge" systematic withdrawal election may not be changed, but can be revoked at no charge. If revoked, a "No Charge" systematic withdrawal may not be elected again. Systematic withdrawals that are not "No Charge" systematic withdrawals can be changed, revoked, and/or reinstated. No more than one systematic withdrawal election may be in effect at any one time. We reserve the right to discontinue any or all systematic withdrawals or to change the terms, at any time.

**Distributions Required by Federal Tax Law** 

There will be no surrender charge on RMD's if the withdrawal:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is made payable to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Does not exceed the amount required under federal tax law as determined by the values in your Portfolio Director Contract and VALIC.

You may select the specific Investment Options from which to take distributions for most payment options, or you may elect to have your payment distributed proportionally across all the

investment options in which you are invested, including the Multi-Year Option. This Contract feature will not be available in any year that an amount has been withdrawn under the "No Charge" systematic withdrawal method. See "*Taxes*" below for more information about required distribution rules*.*

**Cancellation — The "Free Look" Period** 

The Contract Owner of a group Contract (employer) or individual Contract Owner may cancel a Contract by returning it to the Company within 20 days after it is received. (A longer period will be allowed if required under state law.) See *"Appendix C — State Contract Variability."* The free look does not apply to Participant certificates except in a limited number of states. We will allocate Purchase Payments as instructed during the "free look" period. To cancel the Contract, the Contract Owner must send a written request for cancellation and return the Contract to us at the Annuity Service Center before the end of the "Free Look" period. A refund will be made to the Contract Owner within seven days after receipt of the Contract within the required period. Generally, the amount of the refund will be equal to all Purchase Payments received or, if more, the amount required under state law. Additionally, all Contracts issued as an IRA require the full return of Purchase Payments upon a free look. If your Contract was issued either in a state requiring return of Purchase Payments or as an IRA, and you cancel your Contract during the free look period, we return the greater of (1) your Purchase Payments; or (2) the Account Value on the day we receive your request in good order at the Annuity Service Center. The Contract will be void once we issue a refund.

**Loans**

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The Contract offers a tax-free loan provision for tax-qualified contracts, other than IRAs, which gives you access to your money in the Fixed Account Options (subject to a minimum loan amount of $1,000). The availability of loans is subject to federal and state government regulations, as well as your employer's plan provisions and VALIC policy. Generally, one loan per account will be allowed. Under certain, specific circumstances, a maximum of two loans per account may be allowed. VALIC reserves the right to change this limit. We may charge a loan application fee if permitted under state law. Keep in mind that tax laws restrict withdrawals prior to age 59½ and a tax penalty may apply (including on a loan that is not repaid). If you elected an optional Living Benefit, see Appendix B – Living Benefits for limitations on your ability to take loans.

**Interest Charged for a Loan** 

For Contracts not governed by the requirements of ERISA, we charge an effective annual loan interest rate of up to 6%. For

Contracts maintained under a plan subject to the requirements of ERISA, the interest rate we charge on a loan will be based on the Moody's Corporate Bond Yield Average ending two months before the date that the interest rate is determined. The rate is determined each calendar quarter and applies for twelve months for new loans and for outstanding loans whose anniversaries occur in that quarter.

**The Effects of a Loan on Account Value, Payout Payments and the Death Benefit** 

A loan, whether it is repaid or not, has a permanent effect on your Account Value. This effect occurs because the amounts borrowed are removed from your Fixed Account Option(s) and placed in an account outside of your Contract, which earns interest at a fixed rate. If the loan is not fully repaid, upon the beginning of the Payout Period, surrender, or death, then the cash value or the death benefit, as applicable, will be reduced by any foreclosure on the loan or any defaulted amount of the loan.

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**Taxes**

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The Federal income tax treatment of annuity contracts or retirement programs is complex and sometimes uncertain. The discussion below is intended for general informational purposes only and is not intended as tax advice, either general or individualized, nor should be interpreted as providing any predictions or guarantees of a particular tax treatment. This discussion is based upon the Company's understanding of current tax rules and interpretations. Finally, this discussion does not address all Federal income tax consequences of transactions (including consequences of sales to foreign individuals or entities), state or local tax consequences, estate or gift tax consequences, or the impact of foreign tax laws, associated with your Contract.

Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have a retroactive effect as well. As a result, you should consult a tax advisor about the application of tax rules found in the Internal Revenue Code of 1986, as amended ("IRC" or "the Code"), Treasury Regulations, applicable Internal Revenue Service ("IRS") guidance, and any regulatory developments to your individual situation. We do not guarantee the tax status or treatment of your annuity.

Tax rules vary, depending on whether the Contract is offered under your employer-sponsored retirement program or arrangement, an individual retirement account or annuity, or a nonqualified Contract.

The Contracts are used under many types of retirement arrangements, which may include the following:

• IRC section 403(b) annuities for employees of public schools, community colleges, colleges and universities, and other section 501(c)(3) tax-exempt organizations;

• IRC section 401(a), 403(a), and 401(k) qualified plans (including plans for self-employed individuals);

• IRC section 408(b) traditional IRAs;

• IRC section 408A Roth IRAs;

• IRC section 457 deferred compensation plans of governmental and certain tax-exempt employers;

• IRC section 408(k) SEPs and SARSEPs; and

• IRC section 408(p) SIMPLE retirement accounts.

Contracts purchased under these retirement arrangements described above ("Qualified Arrangement") generally are referred to in this prospectus as "Qualified Contracts." Contracts that are not purchased in connection with a Qualified Arrangement generally are referred to in this prospectus as "Non-Qualified Contracts." Note that there are certain types of plans that are referred to as non-qualified, e.g. Non-qualified deferred compensation plans under IRC section 457, that, for purposes of this prospectus, are considered Qualified Arrangements. See below for further details.

**Tax Status of Non-Qualified Contracts** 

**Non-Qualified Contracts** 

Generally, the increases in the value of a Contract are not taxed until a distribution occurs. The taxable portion of the distribution is taxed at ordinary income tax rates. However, this tax deferral is only available if the Contract satisfies certain federal tax rules and requirements, described next. We do not guarantee the tax status or treatment of your Contract. The remainder of the discussion assumes that the Contract will be treated as an annuity contract for federal income tax purposes.

**Late Annuity Start Date** 

If the Contract's annuity start date occurs (or is scheduled to occur) at a time when the Owner has reached an advanced age, it is possible that the Contract would not be treated as an annuity for federal income tax purposes. In that event, the income and gains under the Contract could be currently includable in the Owner's income.

**Diversification** 

For a contract to be treated as a variable annuity for Federal income tax purposes, the underlying investments under the variable annuity must be "adequately diversified". Treasury Regulations provide standards that must be met to comply with the rules. Under the regulations, an investment portfolio will be deemed adequately diversified if (1) no more than 55% of the value of the total assets of the portfolio is represented by any one investment; (2) no more than 70% of the value of the total assets of the portfolio is represented by any two investments; (3) no more than 80% of the value of the total assets of the portfolio is represented by any three investments; and (4) no more than 90% of the value of the total assets of the portfolio is represented by any four investments.

If the variable annuity fails to comply with these diversification standards, you could be required to pay tax currently on the excess of the Contract Value over the contract Purchase Payments. We expect that the manager of the Underlying Funds monitors the Funds to comply with these Treasury Regulations.

**Investor Control** 

Under certain circumstances, you, and not the Company, could be treated as the owner of the assets held in the Separate Account under your Non-Qualified Contract, based on the degree of control you exercise over the underlying investments. If this occurs, you may be currently taxed on income and gains attributable to the assets under the Contract rather than at the time of withdrawal.

There is little guidance in this area, and the determination of whether you possess sufficient incidents of ownership over such assets depends on all of the relevant facts and circumstances.

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However, Revenue Rulings 2003-91 and 2003-92 provide that an annuity owner's ability to choose among general investment strategies either at the time of the initial purchase or thereafter, does not constitute control sufficient to cause the contract holder to be treated as the owner of such assets. The Revenue Rulings provide that if, based on all the facts and circumstances, you do not have direct or indirect control over such assets, then you do not possess sufficient incidents of ownership over the assets supporting the annuity to be deemed the owner of the assets for federal income tax purposes. We do not know what limits may be set by the IRS in any future guidance that it may issue and whether such limits will apply to existing contracts.

While we believe the Contract does not give you investor control over such assets, we reserve the right to modify the Contract as necessary to prevent you from being considered as the owner of the assets of the Contract for purposes of the Code.

**Non-Natural Owners** 

A Trust or Corporation or other Owner that is not a natural person ("Non-Natural Owner") should consult a tax advisor. Generally, the Code does not confer tax-deferred status upon a Non-Qualified Contract owned by a Non-Natural Owner for federal income tax purposes. Instead in such cases, the Non-Natural Owner pays tax each year on the contract's "income on the contract" (as defined in the tax law). However, certain exceptions may apply, such as for contracts held by a trust or other entity as an agent for a natural person or contracts held by certain employer sponsored retirement arrangements. If an exception applies, the entity's general interest deduction under the Code may be limited. Finally, certain non-qualified deferred compensation plans are subject to special tax rules. **Please consult a tax advisor if you are a Non-Natural Owner of a Contract.**

**Tax Treatment of Purchase Payments** 

Purchase Payments paid to a Nonqualified Contract are neither excludible from the gross income of the Contract Owner nor deductible for tax purposes. In general, your cost basis in a Non-Qualified Contract is equal to the Purchase Payments you put into the Contract less any amounts previously received from the Contract that were not includible in income.

**Tax Treatment of Distributions** 

**Partial Withdrawals** 

If you make a partial withdrawal from a Non-Qualified Contract, the IRC generally treats such withdrawals as taxable to the extent your contract value before the withdrawal (determined before the application of any surrender charge) exceeds your cost basis. Partial withdrawals from a Non-Qualified Contract that has Purchase Payments made before August 14, 1982, are

an important exception to this general rule and are treated as first coming from the pre-August 14, 1982 Purchase Payments.

Amounts received under an automatic withdrawal plan are treated as withdrawals and not annuity payments for purposes of calculating taxable income.

**Optional Living Benefits/Other Benefits** 

Generally, we will treat amounts credited to the contract value under the optional Living Benefit guarantees, for income tax purposes, as earnings in the contract. Thus, payments of Living Benefits are treated as taxable withdrawals to the extent there are taxable gains in the contract value. Payments in accordance with such guarantees after the contract value has been reduced to zero may be treated for tax purposes as amounts received as an annuity, if the other requirements for such treatment are satisfied. All payments or withdrawals after cost basis has been reduced to zero, whether or not under such a guarantee, will be treated as taxable amounts. If available and you elect an optional Living Benefit, the application of certain tax rules, including those rules relating to distributions from your contract, are not entirely clear. Such benefits are not intended to adversely affect the tax treatment of distributions or of the contract. However, you should be aware that little guidance is available. **You should consult a tax advisor before electing an optional Living Benefit.** 

**Full Surrenders** 

In the case of a full surrender of a Non-Qualified Contract, the amount received on surrender is taxable to the extent it exceeds the cost basis.

**Collateral Assignments and Gratuitous Transfers** 

If you transfer ownership of your Non-Qualified contract to a person other than your spouse (or former spouse incident to a divorce) you will owe federal income tax on the contract's cash surrender value to the extent it exceeds your cost basis. The transferee's cost basis will be increased to reflect the amount the transferor includes in income.

An assignment or pledge (or agreement to assign or pledge) of any portion of a Non-Qualified Contract will be treated as a withdrawal. If the entire contract value is assigned or pledged, subsequent increases in the contract value are also treated as withdrawals for as long as the assignment or pledge remains in place. The cost basis is increased by the amount included in income with respect to such assignment or pledge.

**Aggregation Rule** 

If you purchase multiple non-qualified annuity contracts from the same insurance company (or its affiliates), within the same calendar year, the IRS generally requires these annuity contracts to be aggregated and treated as a single contract for purposes of

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determining the taxable income associated with any distribution taken from the contracts for tax purposes. For purposes of this rule, contracts received in a Section 1035 exchange will be considered issued in the year of the exchange. (However, the contracts may be treated as issued on the issue date of the contract being exchanged, for certain purposes, including determining whether the contract is an immediate annuity contract.) Aggregation impacts the amount of the distributions described above that is subject to taxation (and potentially subject to the 10% additional tax, if applicable). Owners should seek their own tax advice if you are purchasing more than one annuity from the same insurance company (or its affiliates) in the same calendar year.

**Annuity Payments** 

If you annuitize your Non-Qualified Contract, a portion of each annuity income payment will be considered, for tax purposes, to be a return of a portion of your cost basis. The portion of each annuity income payment that is considered a return of your cost basis will not be taxed. Your annuity income payment will be considered fully taxable after you have received a return of the entire amount of your cost basis.

**Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from a non-qualified annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax if the Owner is under 59½, unless another exception applies. **You should consult your tax advisor regarding these features and benefits prior to purchasing a Contract.** 

Upon death, any remaining amounts in the Contract must be distributed in accordance with the requirements under the Code. For deaths that occur after the Contract's annuity start date, payments under the Annuity Option elected will continue to be paid at least as rapidly as under the method of distribution in effect at such Owner's death. For deaths that occur prior to the Contract's annuity start date, the entire interest in the Contract can be paid in one of the following manner:

(1) Lump sum payment of the death benefit.

(2) Payment of the entire death benefit within five years of the date of any Owner's death.

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(3) Payment of the death benefit over the lifetime of the beneficiary or over a period not extending beyond the life expectancy of the beneficiary. Under this option, distributions must begin within one year of the date of any Owner's death. Note - This option is not available for a beneficiary that is a non-natural person.

(4) Spousal Option Only. The spousal beneficiary can elect to treat the annuity contract as their own.

Special rules apply if the Owner is a non-natural person, where the annuitant is generally treated as the Owner.

**10% Additional Tax** 

The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC);

• when paid as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated Beneficiary;

• under an immediate annuity contract; or

• when attributable to Purchase Payments made prior to August 14, 1982.

Other exceptions may available depending on contract type and your circumstances. **Please consult your tax advisor or** www.irs.gov **for more information.** 

**Net Investment Income Tax** 

There is a 3.8% tax on net investment income for Owners with Modified Adjusted Gross Income ("MAGI") that exceeds certain thresholds based on the type of filer. Further information may be found on www.irs.gov. For this purpose, net investment income generally will include taxable distributions from a Non-Qualified Contract. It is also possible the tax could apply to other taxable amounts relating to your Non-Qualified Contract. **Please consult your tax advisor**. This tax generally does not apply to Qualified Contracts; however, taxable distributions from such contracts may be considered in determining the MAGI threshold.

**Tax Treatment of Exchanges** 

The Non-Qualified Contract may be issued in exchange for all or part of another annuity contract that you own. In addition, the Contract Owner may be permitted to exchange the Contract for a new annuity contract prior to the commencement of annuity income payments. A full or partial exchange of one annuity contract for another is a tax-free transaction under IRC section 1035, provided that the requirements of that section are satisfied. Please note that the exchange may be tax reportable. If

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you exchange part of an existing annuity contract for another annuity contract, and within 180 days of the exchange you receive a distribution other than certain annuity payments, the exchange may not be tax free. **You should consult a tax advisor when exchanging part or all of an annuity contract.** 

**Qualified Contracts** 

Qualified Contracts taxation varies with the type of plan and terms and conditions of each specific plan. You will get no additional tax advantage from this Contract if you are investing through a Qualified Contract beyond the treatment provided to alternative qualifying arrangements such as trusts or custodial accounts. However, in both cases the Contract offers features and benefits that other investments may not offer. You and your financial representative should carefully consider whether the features and benefits, including the investment options, lifetime annuity income options, protection through Living Benefits, death benefits and other benefits provided under an annuity contract issued in connection with a Qualified Contract are suitable for your needs and objectives and are appropriate in light of the expense.

The terms of the plan may limit the rights otherwise available under the Contracts. The Code and, if applicable, your Contract or Qualified Arrangement, may have limitations and restrictions such as: the amount that can be contributed; the form, manner and timing of distributions; vesting and non-forfeitability of interests; nondiscrimination in eligibility and participation; and the tax treatment of distributions, withdrawals and surrenders. Some of these limitations are adjusted annually. **Please see www.IRS.gov or consult your tax advisor.** 

The following are general summary descriptions of the types of Qualified Arrangements with which the Qualified Contracts may be used. Not all plan types will be available under your Contract. Descriptions of such arrangements are not exhaustive and are for general information purposes only. The tax rules regarding Qualified Arrangements are very complex and will have differing applications depending on individual facts and circumstances. **Each prospective purchaser should obtain competent tax advice prior to purchasing a contract issued under a qualified plan.** 

***Plans of Self-Employed Individuals: "H.R. 10 Plans"*** 

***Pension and Profit Sharing Plans 401(a)/401(k)*** 

***Tax-Sheltered Annuity (403(b))*** 

In general, certain Contracts originally established by a IRS Revenue Ruling 90-24 transfer prior to September 25, 2007 are exempt (or grandfathered) from some of the requirements of the regulations; provided that no salary reduction or other contributions have ever been made to the Contract, and that no additional transfers are made to the Contract on or after September 24, 2007.

***SIMPLE IRA*** 

Employers with 100 or fewer employees can maintain a SIMPLE IRA plan. Employer and employee contributions under a SIMPLE IRA Plan are made to a separate SIMPLE IRA for each employee. Employer contributions must be in the form of matching contribution or a nonelective contribution of a percentage of compensation as specified in the Code. The employee is always 100% vested in (or, has ownership of) all SIMPLE IRA money.

***Traditional Individual Retirement Annuities (IRA), SEP IRA, or Roth IRA*** 

The IRA Disclosure Statement, ROTH IRA Disclosure Statement, or Traditional, SEP, and Roth Individual Retirement Annuity (IRA) Combined Disclosure Statement which was received at the time of original issue of your IRA, SEP IRA or Roth IRA contains information about eligibility, contribution limits, distribution restrictions and other tax information. For further information about contributions and distributions from your IRA, please see Publications 590-A and 590-B on the IRS website at www.irs.gov.

***Traditional Individual Retirement Annuities*** 

Section 408(b) of the Code permits eligible individuals to contribute to an individual retirement program known as a traditional IRA. Under applicable limitations, certain amounts (adjusted annually) may be contributed to an IRA. Such contributions may be deductible, depending on your modified gross income.

***Roth IRAs*** 

Section 408A of the Code permits an individual to contribute to an individual retirement account called a Roth IRA. Contributions to a Roth IRA are not deductible, but distributions are tax-free if certain requirements are satisfied. Unlike traditional IRAs, to which everyone can contribute even if they cannot deduct the full contribution, Roth IRAs have income limitations on who can make regular cash contributions.

***Simplified Employee Pension Plan ("SEP") IRA*** 

Sole proprietors, partnerships, and corporations, including S corporations, can set up SEPs. Employer contributions under a SEP are made to a separate IRAs established for each participating employee, and generally must be made at a rate representing a uniform percent of participating employees' compensation. Through 1996, employees of certain small employers (other than tax-exempt organizations) were permitted to establish plans allowing employees to contribute pretax, on a salary reduction basis, to the SEP (known as SARSEPs).

***Deferred Compensation Plans — Section 457*** 

A unit of a state or local government may establish a deferred compensation program for individuals who perform services for the government unit if permitted by applicable state (and/or local) laws. In addition, a non-governmental tax-exempt employer may establish a deferred compensation program for individuals who: (i) perform services for the employer, and

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(ii) belong to either a select group of management or highly compensated employees or, if provided under the deferred compensation arrangement, independent contractors.

The employer uses deferred amounts to purchase the Contracts offered by this prospectus. For plans maintained by a unit of a state or local government, the Contract is generally held for the exclusive benefit of plan Participants. For plans of non-governmental tax-exempt employers, the employee has no present ownership rights in the Contract and is entitled to payment only in accordance with the eligible deferred compensation plan (an "EDCP") provisions and, where applicable, any trust under which the Contract may be held. Non-governmental 457 plan assets must remain assets of the employer and are subject to claims by the creditors of the employer.

Under these plans, contributions made for the benefit of the employees will not be includible in the employees' gross income until distributed from, or if a non-governmental tax-exempt employer, otherwise made available to the recipient.

**Tax Treatment of Purchase Payments** 

For employer-sponsored arrangements, Purchase Payments under Qualified Contracts can be made as contributions by employers or as pre-tax or after-tax contributions by employees, depending on the type of retirement program. For IRAs, Purchase Payments also can be made as a pre-tax or after-tax contribution. If you make contributions on a pre-tax basis, then you have no cost basis in your Contract. However, you normally will have cost basis in a Roth IRA, a designated Roth account in a 403(b), 401(k), or governmental 457(b) plan, and you may have cost basis in a non-deductible traditional IRA or in another Qualified Contract.

Limitations and restrictions may apply to Purchase Payments. **Please refer to www.IRS.gov for further information, as these limitations and restrictions may be based on several factors.** 

**Various penalty and excise taxes may apply to contributions made in violation of applicable contribution limits. You should consult a qualified tax advisor associated with any questions related to the contribution to or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

**Tax Treatment of Distributions** 

Distributions from Qualified Contracts, other than IRAs and Roth IRAs, are often limited by the IRC and by the terms of the employer-sponsored retirement plan. In some cases, distributions are not available unless there has been a distributable event as defined by the terms of the plan. All distributions are tax at ordinary income tax rates. Various penalty taxes may apply to distributions made in violation of applicable requirements. Furthermore, certain contractual withdrawal penalties and restrictions may apply to surrenders from Qualified Contracts. **You should consult a qualified tax** 

**advisor associated with any questions related to the distribution or transfer from an employer sponsored retirement plan or arrangement, IRA, or Roth IRA.** 

***Non-Roth Qualified Contracts****.* Distributions from Qualified Contracts other than Roth IRAs and designated Roth accounts (described below) are taxable, except to the extent allocable to after-tax contributions or non-deductible traditional IRA contributions.

***Roth IRAs and Designated Roth Accounts.*** "Qualified" distributions from Roth IRAs and Designated Roth Accounts upon attainment of age 59½, upon death or disability, or for qualifying first-time homebuyer expenses (Roth IRAs only) are tax-free as long as five or more years have passed since the first contribution to the taxpayer's first Roth IRA or Designated Roth Account. Qualified distributions may be subject to state income tax in some states. Special tax rules will apply to distributions that are not qualified and such distributions are generally subject to the same 10% additional tax on amounts included in income as for other IRAs. Distributions of rollover or conversion contributions may be subject to a 10% additional tax if the distribution of those contributions is made within five years of the rollover or conversion.

***Designated Roth and Roth IRA Conversions.*** All persons may be eligible to convert a distribution from an employer-sponsored plan or from a traditional IRA into a Roth IRA. Conversions from qualified contracts into Roth IRAs normally require taxes to be paid in the year of the conversion on any previously untaxed amounts included in the amount converted. The taxable value of such a conversion may consider the value of certain benefits under the Contract.

***457 Plans.*** Amounts received from an EDCP are includible in gross income for the taxable year in which they are paid or, if a non-governmental tax-exempt employer, otherwise made available to the recipient.

***Annuitization****.* If you annuitize your Qualified Contract, special tax rules apply to determine the taxable amount of your annuity income payment depending on your Qualified Arrangement. **Please consult your tax advisor.** 

***10% Additional Tax.* You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any.** The taxable portion of any distribution, whether annuity income payment or other withdrawal, prior to the Owner of a Qualified Contract reaching age 59½ is subject to a 10% additional tax unless an exception applies. Some of the main exceptions include:

• when paid to your Beneficiary after you die;

• after you become permanently disabled (as defined in the IRC); and

• as a part of a series of substantially equal periodic payments (not less frequently than annually) made for your life (or life expectancy) or the joint lives (or joint expectancies) of you and your designated Beneficiary.

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Other exceptions may be applicable under certain circumstances. In addition, you may be able to repay certain distributions if certain requirements are satisfied. Distributions from a SIMPLE IRA within two years after first participating in the Plan may be subject to a 25% additional tax, rather than a 10% additional tax.

**Direct and Indirect Rollovers** 

A rollover distribution, including eligible rollover distributions as defined below, from an IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan may generally be rolled over into another IRA, 403(b) TSA, qualified plan or governmental 457(b) deferred compensation plan, if permitted by the plan.

An eligible rollover distribution is the taxable portion of any amount received by a covered employee from a retirement plan qualified under Sections 401(a) or 403(a) or, if from a plan of a governmental employer, under Section 457(b) of the Code, or from a tax-sheltered annuity qualified under Section 403(b) of the Code. Generally, certain types of distributions are not considered eligible rollover distributions, such as distributions received on account of:

a)

a required minimum distribution,

b)

a hardship withdrawal, or

c)

a series of substantially equal payments (at least annually) made over your life expectancy or the joint life expectancies of you and your designated Beneficiary, or a distribution made for a specified period of 10 years or more.

A rollover distribution (including an eligible rollover distribution) may be transferred as a direct or indirect rollover. In a direct rollover, the funds are directly transferred from one Qualified Arrangement to another. In an indirect rollover, the individual receives a distribution from the Qualified Arrangement and reinvests it in another Qualified Arrangement within 60 days of the distribution. For indirect rollovers, you must include in your income for the year the taxable amount of any portion of the distribution that you do not roll over. An indirect rollover of an eligible rollover distribution will be subject to a mandatory 20% withholding tax (described below).

Individuals are only permitted to make one indirect rollover from an IRA to another IRA in any one-year period. It is important to note that the one rollover per year limitation does not apply to amounts taken as an eligible rollover distribution from an employer sponsored retirement arrangement or from amounts transferred directly between IRAs in a trustee-to-trustee transfer.

Funds may generally be rolled over tax-free from a SIMPLE IRA to another IRA. However, during the two-year period beginning on the date you first participate in any SIMPLE IRA plan of your employer, SIMPLE IRA funds may only be rolled to another SIMPLE IRA.

**You should always consult your tax advisor before you move or attempt to move any funds.** 

**Tax Treatment of Death Benefits** 

The taxable amount of any death benefits paid under the contract are taxable to the Beneficiary. The rules governing the taxation of payments from an annuity contract, as discussed above, generally apply whether the death benefit is paid as lump sum or annuity income payments. Estate taxes may also apply.

Enhanced death benefits (if applicable to your Contract) are used as investment protection and are not expected to give rise to any adverse tax effects. However, the IRS could take the position that some or all the charges for these death benefits should be treated as a partial withdrawal from the Contract. In that case, the amount of the partial withdrawal may be includible in taxable income and subject to the 10% additional tax described above if the Owner is under 59½, unless another exception applies. The IRS may consider these benefits "incidental death benefits" or "life insurance." **You should consult your tax advisor regarding these features and benefits prior to purchasing a Qualified Contract.** See below for required distributions after the death of the owner.

**Required Minimum Distributions** 

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your Qualified Arrangement each year after your required beginning date. The RMD rules do not apply to Roth IRAs or designated Roth accounts when the Owner is alive.

Failure to satisfy the minimum distribution requirements may result in an excise tax. A 25% excise tax may be assessed on any RMD that is required but not taken timely. However, if the late RMD is taken within a two-year period, the penalty may be reduced to 10% if certain conditions are satisfied. **You should consult your tax advisor for more information.** 

**Required Beginning Date** 

Generally, the IRC requires that you begin taking annual distributions from Qualified Contracts by December 31 of the calendar year in which you attain the "applicable age":

• Age 75 if you were born January 1, 1960 or later.

• Age 73 if you were born on or after January 1, 1951, and before January 1, 1960.

• Age 72 if you were born on or after July 1, 1949, and before January 1, 1951.

• Age 70 ½ if you were born before July 1, 1949.

For employer sponsored retirement plans, you must begin distributions on the later of (1) reaching the applicable age, or (2) the calendar year in which you sever employment from the employer sponsoring the plan.

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You may choose to delay your first distribution until April 1 of the calendar year following in which you reach the applicable age or sever employment, as applicable. However, if you choose to delay your first distribution, you will be required to withdraw your second RMD on or before December 31 in that same year. For each year thereafter, you must withdraw your RMD by December 31.

For 403(b) contracts, amounts accumulated under a Contract on December 31, 1986, may be subject to special distribution rules.

**Combining Distributions from Multiple Qualified Contracts** 

If you own more than one IRA, you may be permitted to take your RMD in any combination from your IRAs. A similar rule applies if you own more than one 403(b) account, unless the Plan, Contract, or account otherwise provides. However, you cannot satisfy this distribution requirement for your IRA contract by taking a distribution from a 403(b) account, and you cannot satisfy the requirement for your 403(b) account by taking a distribution from an IRA.

**Automatic Withdrawal Option** 

If available, you may elect to have the RMD amount for your Contract calculated and withdrawn each year under the automatic withdrawal option. You may select monthly, quarterly, semiannual, or annual withdrawals for this purpose. This service is provided as a courtesy, and we do not guarantee the accuracy of our calculations.

**Impact of Optional Benefits** 

The annuity contract value used to determine RMDs includes the actuarial present value of other benefits under the Qualified Contract, such as enhanced death benefits and/or Living Benefits. However, please note that not all Contracts have enhanced death benefits and/or Living Benefits. As a result, if you request a minimum distribution calculation, or if one is otherwise required to be provided, in those specific circumstances where this requirement applies, the calculation may be based upon a value that is greater than your contract value, resulting in a larger RMD. This does not apply to RMDs made under an irrevocable annuity income option.

If you have purchased the IncomeLOCK or IncomeLOCK Plus benefit option, the calculation of the RMD may include the value of the IncomeLOCK or IncomeLOCK Plus and may increase the amount of the RMD. IncomeLock and IncomeLock Plus benefit options are no longer available for purchase.

**We recommend you consult your tax advisor concerning your required minimum distribution.** 

**Required After Death Distributions** 

Upon death, any remaining amounts in the Qualified Contract must be distributed in accordance with the requirements under the IRC. The timing of these distributions will depend on whether the death occurs before the owner was required to take RMDs, the type of Beneficiary, and the beneficiary's relationship to the deceased owner. The information provided below applies to Owners who die after 2019 (after 2021 for certain governmental and collectively bargained retirement plans). **For Owners' deaths prior to such dates, individuals should consult a tax advisor regarding the applicable after-death distribution requirements**.

Eligible designated Beneficiaries ("EDB") are generally a natural person designated as beneficiary ("designated beneficiaries") who are also:

• the surviving spouse of the owner;

• a minor child of the owner;

• a qualifying disabled or chronically ill beneficiary; or

• an individual who is not more than ten years younger than the owner.

If the Beneficiary is an EDB, , the entire amount in the Contract generally must be paid to the EDB:

• if the owner had not reached their required beginning date for RMDs

• within 10 years after the owner's death, or

• by December 31st of the year following the year of death and be paid over the lifetime or single life expectancy of the EDB; or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

Exceptions to this rule may apply in the case of an EDB who is also the owner's spouse or minor child.

If a Beneficiary is a designated beneficiary, the entire amount in the Contract must be distributed either:

• if the owner had not reached their required beginning date for RMDs, within 10 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner and all amounts must be distributed within 10 years of the owner's death.

If the Beneficiary is not a designated beneficiary or an EDB, the Beneficiary must receive the entire amount in the Contract:

• if the owner had not reached their required beginning date for RMDs, within 5 years after the owner's death, or

• if the owner had reached their required beginning date for RMDs, payments must continue at least as rapidly as was required for the owner.

Additional rules, requirements, and exceptions may apply. **Please consult a tax advisor.** 

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**Gifts, Pledges, Assignments of and/or Loans from a Qualified Contract** 

Qualified Contracts are prohibited from being transferred, assigned or pledged as security for a loan. This generally does not apply to loans under an employer-sponsored retirement plan (including loans from the annuity contract) that satisfy certain requirements, provided that the plan is not an unfunded deferred compensation plan. Another exception to this rule includes an assignment pursuant to a domestic relations order meeting the requirements of the plan or arrangement under which the contract is issued (for many plans, a Qualified Domestic Relations Order, or QDRO), or, in the case of an IRA, pursuant to a decree of divorce or separation maintenance or a written instrument incident to such decree.

For certain qualified arrangements, a default of a loan may be considered a taxable distribution and may be subject to a 10% additional tax if the distribution occurred prior to your attainment of age 59.5 unless an exception applies. Please see the terms of your loan for specifics regarding your loan and the tax impact of defaults.

**You should consult a tax advisor as to the availability of these and any other exceptions.** 

**Tax Withholding and Reporting** 

Taxable amounts distributed from annuity contracts are subject to federal and state income tax reporting and withholding. In general, we will withhold federal income tax from the taxable portion of such distribution based on the type of distribution and, in certain cases, the amount of your distribution. An election out of federal withholding must be made in accordance with the IRS guidance as directed on forms that we provide. If an election out of withholding or election of another amount is not made, withholding is imposed (1) for periodic payments, at the rate that would be imposed if the payments were wages, and the payee was single with no adjustments, or (2) for other distributions, at the rate of 10%. If you are a U.S. person (which includes a resident alien), and your address of record is a non-U.S. address, we are required to withhold income tax unless payments are directed to your U.S. residential address. We are also required to withhold if you do not provide a valid TIN.

State income tax withholding rules vary, and we will withhold based on the rules of your state of residence. Your state may require any election associated with withholding to be undertaken on the state's prescribed form.

Special tax rules apply to withholding for non-United States persons, and we generally withhold income tax for such non-United States persons at a rate of 30% of the taxable amount. A different withholding rate may be applicable to a non-United States person based on the terms of an existing income tax treaty between the United States and the non-United States person's country. To qualify for any reduced withholding, the non-United States person must provide applicable certifications under Form W-8 BEN-E, Form W-8IMY, or other applicable form.

Any Form W-8, including the Form W-8 BEN-E and Form W-8IMY, is only effective for three years from date of signature unless a change in circumstances makes any information on the form incorrect. You should consult your tax advisor as to the availability of an exemption from, or reduction of, such tax under an applicable income tax treaty, if any. Note, any payments made to a foreign entity, where such entity fails to provide the applicable certifications, may result in a 30% withholding on certain gross payments, which could include distributions from annuity contracts.

Any income tax withheld is a credit against your income tax liability. Regardless of the amount withheld by us, you are liable for payment of federal and state income tax on the taxable portion of annuity distributions. You should consult with your tax advisor regarding the payment of the correct amount of these income taxes and potential liability if you fail to pay such taxes.

**20% Federal Income Tax Withholding on Eligible Rollover Distributions** 

For certain qualified employer sponsored plans, we are required to withhold 20% of the taxable portion of your withdrawal that constitutes an eligible rollover distribution for Federal income taxes. This requirement is mandatory and cannot be waived by the owner. You may avoid withholding if you do a direct rollover between Qualified Arrangements.

**Generation Skipping Transfer Tax Withholding** 

Under certain circumstances, the IRC may impose generation skipping transfer tax when all or a part of an annuity contract is transferred (including a death benefit paid) to an individual two or more generations younger than the owner. The Company may be required to undertake withholding associated with such a transaction. **Contract Owners should consult a tax advisor with any questions.** 

***Advisory Fees*** 

**Non-Qualified Contracts** 

The IRS has issued a private letter ruling (PLR) to the Company recognizing the ability, in specific circumstances, to not treat the payment of investment advisory fees to an investment advisor from Non-Qualified Contracts as a taxable withdrawal from the Contracts. ***Only the Company can rely on the PLR from the IRS.*** 

Under the terms of the Company's PLR, the Advisory Agreement with the Investment Advisor must provide that the Investment Advisor will help you select investment options for the Contract. Advisory Program Fees for such services must not exceed an annual rate of 1.50% of the Contract's cash value for the period to which the Advisory Program Fees relate. The Contract owner is solely liable for the fees. The Advisory Program Fees may not constitute compensation to the Advisor for services related to any assets other than the Contract. The Advisory Program Fees

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are an expense of the Contract and not a distribution to you as the owner. Any payment of advisory fees inconsistent which such requirements may be treated as withdrawals for tax purposes by the Company and/or by the IRS. Notwithstanding the tax treatment of Advisory Program Fees by the Company, federal and/or state taxing authorities could determine that such fees should be treated as taxable withdrawals. In such circumstances any fees prior to your attainment of age 59½ could also result in a 10% additional tax.

The Company only administers the terms of the PLR for the GPS and GPA Advisory Programs, which are offered through VFA, our affiliate. Accordingly, the description above only applies to such programs. This means if you participate in a third-party Advisory Program and VFA is not your Investment Advisor, partial withdrawals, including Investment Advisor fees, taken from a Non-Qualified Contract will be considered distributions or withdrawals for tax purposes and will be treated as a taxable distribution.

**Qualified Contracts** 

The IRS has issued multiple private letter rulings recognizing the ability, in specific circumstances, to treat the payment of investment advisory fees to an investment advisor out of

Qualified contracts as non-taxable withdrawals from the contracts. The restrictions for Qualified Contracts are similar to those outlined for Non-Qualified.

***Civil Unions and Domestic Partnerships*** 

Parties to a state civil union or domestic partnership are not treated as married under federal law. Accordingly, certain transactions (such as a change of ownership or spousal continuation) may be taxable to those persons. Contract Owners should consult a tax advisor with any questions.

***Our Taxes*** 

The Company is taxed as a life insurance company under the Code. For federal income tax purposes, the Separate Account is not a separate entity from the Company and its operations form a part of the Company. We are entitled to certain tax benefits related to the investment of company assets, including assets of the Separate Account, which may include foreign tax credits and the corporate dividends received deduction. These potential benefits are not passed back to you, since we are the owner of the assets from which tax benefits may be de

**Legal Proceedings**

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There are no material pending legal proceedings affecting the Separate Account, the Company, or the principal underwriter. Various federal, state or other regulatory agencies may from time to time review, examine or inquire into the operations, practices and procedures of the Company, such as through financial examinations, subpoenas, investigations, market conduct exams or other regulatory inquiries. Based on the current status of pending regulatory examinations, investigations and inquiries involving the Company, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to

perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

Various lawsuits against the Company have arisen in the ordinary course of business. As of the date of this prospectus, the Company believes that none of these matters will have a material adverse effect on the ability of the principal underwriter to perform its contract with the Separate Account or of the Company to meet its obligations under the variable annuity contracts.

**Financial Statements**

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The financial statements of the Company and the Separate Account and American Home (if applicable to you) are included in the SAI. Instructions for obtaining the SAI can be

found on the back cover of this prospectus. We encourage both existing and prospective contract owners to read and understand the financial statements.

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**Appendix A — Investment Options Available Under the Contract**

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**If your Contract is through certain employer-sponsored qualified retirement plans, the availability of certain Portfolio Companies can vary based on your employer. Refer to your employer's retirement program documents for a list of the employer-selected Portfolio Companies available in your Contract and any limitations on the number of Portfolio Companies you may choose. All Portfolio Companies may not be available for all plans or Contracts.** 

The following is a list of Portfolio Companies available under the Contract. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time to time and can be found online at www.corebridgefinancial.com/rs/prospectus-and-reports/annuities. You can also request this information at no cost by calling 1-800-448-2542. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolio Companies. See "Investment Restrictions for Optional Living Benefits" in this appendix.

The current expenses and performance information below reflect fees and expenses of the Portfolio Companies, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio Company's past performance is not necessarily an indication of future performance.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; American Beacon Man Large Cap<br> Growth Fund<sup>3, 5</sup> – Investor Class<br> *Adviser: American Beacon Advisors, Inc.*<br> *Sub-Adviser: Numeric Investors LLC*<br>| 1.12% |  | 1.12% | 15.86% | 11.19% | 15.61%\* |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Capital Appreciation Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Columbia Management Investment Advisers, LLC*<br>| 0.73% |  | 0.73% | 14.19% | 14.69% | 15.33% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Dividend Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock Investment Management, LLC and* <br> *ClearBridge Investments, LLC*<br>| 0.67% |  | 0.67% | 18.21% | 11.55% | 10.40% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock*<br>| 0.61% |  | 0.61% | 14.57% | 11.57% | 15.67% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Large Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM and T. Rowe Price Company*<br>| 0.66% |  | 0.66% | 9.81% | 10.02% | 14.27% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Nasdaq-100<sup>®</sup> Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.42% |  | 0.42% | 20.42% | 14.73% | 19.06% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Stock Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.23% |  | 0.23% | 17.55% | 14.08% | 14.46% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Core Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Goldman Sachs*<br>| 0.64% |  | 0.64% | 14.77% | 12.45% | 13.89% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs Asset Management, L.P. and* <br> *Wellington Management Company LLP*<br>| 0.64% |  | 0.64% | 17.66% | 10.29% | 14.83% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Systematic Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.65% |  | 0.65% | 17.41% | 13.25% | 10.31% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; U.S. Socially Responsible Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 14.73% | 11.77% | 12.91% |
| **Domestic**<br> **Large-Cap**<br> **Equity**<br> &nbsp;&nbsp; Vanguard Windsor II Fund<sup>3</sup> – Investor Shares<br> *Advisers: Aristotle Capital Management, LLC; Hotchkis and Wiley* <br> *Capital Management, LLC; Lazard Asset Management LLC; and* <br> *Sanders Capital, LLC*<br>| 0.33% | 0.25% | 0.58% | 18.56% | 12.89% | 12.61% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Appreciation Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel Investments, LLC*<br>| 1.15% |  | 1.15% | 11.11% | 7.57% | 7.95% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Strategic Growth Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Janus Henderson Investors US LLC and Voya* <br> *Investment Management Co. LLC*<br>| 0.74% |  | 0.74% | 11.34% | 7.88% | 13.56% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Value Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Boston Partners Global Investors, Inc. d/b/a* <br> *Boston Partners and Wellington Management*<br>| 0.83% |  | 0.83% | 7.23% | 10.19% | 9.29% |
| **Domestic Mid-**<br> **Cap Equity**<br> &nbsp;&nbsp; Mid Cap Index Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.35% |  | 0.35% | 6.95% | 8.68% | 10.34% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Ariel Fund<sup>3</sup> – Investor Class<br> *Adviser: Ariel*<br>| 1.01% |  | 1.01% | 14.15% | 9.36% | 9.51% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: American Century Investment Management, Inc.* <br> *and T. Rowe Price Associates, Inc.*<br>| 0.88% |  | 0.88% | 9.20% | -2.35% | 11.01% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.38% |  | 0.38% | 12.23% | 5.69% | 9.27% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Core Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Invesco Advisers, Inc.*<br>| 0.93% |  | 0.93% | -3.03% | 6.57% | 8.39% |
| **Domestic Small-**<br> **Cap Equity**<br> &nbsp;&nbsp; Small Cap Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.84% |  | 0.84% | 12.16% | 9.55% | 8.54% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; Global Strategy Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Franklin Advisers, Inc. and Brandywine Global* <br> *Investment Management LLC*<br>| 0.63% |  | 0.63% | 20.73% | 7.18% | 5.85% |
| **Global Equity**<br> **(International**<br> **and Domestic)**<br> &nbsp;&nbsp; International Socially Responsible Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.55% |  | 0.55% | 27.32% | 7.80% | 9.10% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; Emerging Economies Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 1.02% |  | 1.02% | 30.11% | 4.19% | 8.04% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Equities Index Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: BlackRock*<br>| 0.39% |  | 0.39% | 30.81% | 8.47% | 7.82% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Growth Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Morgan Stanley Investment Management Co.*<br>| 0.82% |  | 0.82% | 16.07% | 1.86% | 8.33% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Opportunities Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Invesco Advisers, Inc. and Wellington* <br> *Management*<br>| 1.01% |  | 1.01% | 27.46% | 2.74% | 6.76% |
| **International**<br> **Equity**<br> &nbsp;&nbsp; International Value Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Goldman Sachs and Columbia Management* <br> *Investment Advisers, LLC*<br>| 0.81% |  | 0.81% | 39.97% | 10.60% | 8.10% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Specialty**<br> &nbsp;&nbsp; Global Real Estate Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: Duff & Phelps Investment Management Co. and* <br> *MFS*<br>| 0.90% |  | 0.90% | 7.70% | 1.77% | 3.39% |
| **Specialty**<br> &nbsp;&nbsp; Invesco Balanced-Risk Commodity Strategy Fund<sup>3, 5</sup> – Class R5<br> *Adviser: Invesco Advisers, Inc.*<br>| 1.05% |  | 1.05% | 18.94% | 9.41% | 6.23% |
| **Specialty**<br> &nbsp;&nbsp; Science & Technology Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: BlackRock, Voya*<br>| 0.91% |  | 0.91% | 22.57% | 11.59% | 18.92% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 16.94% | 8.73% | 9.38% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Asset Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.65% |  | 0.65% | 11.50% | 8.17% | 7.75% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Conservative Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.59% |  | 0.59% | 11.79% | 4.34% | 5.85% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Dynamic Allocation Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: AllianceBernstein L.P.*<br>| 0.83% |  | 0.83% | 11.33% | 5.60% | 7.49% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Moderate Allocation Lifestyle Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.54% |  | 0.54% | 14.40% | 7.01% | 8.10% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2015 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.74% |  | 0.74% | 11.83% | 5.05% | 6.89% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2020 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.76% |  | 0.76% | 12.23% | 5.34% | 7.42% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2025 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.78% |  | 0.78% | 12.71% | 5.76% | 8.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2030 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.80% |  | 0.80% | 14.10% | 6.51% | 8.77% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2035 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.83% |  | 0.83% | 15.84% | 7.42% | 9.50% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2040 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.84% |  | 0.84% | 17.16% | 8.17% | 10.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2045 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.85% |  | 0.85% | 18.23% | 8.77% | 10.55% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2050 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.87% |  | 0.87% | 18.53% | 8.95% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2055 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.88% |  | 0.88% | 18.70% | 8.97% | 10.63% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; T. Rowe Price Retirement 2060 Fund<sup>3</sup> – Advisor Class<br> *Adviser: T. Rowe Price*<br>| 0.89% |  | 0.89% | 18.63% | 8.96% | 10.62% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Conservative Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: The Vanguard Group, Inc.*<br>| 0.10% | 0.25% | 0.35% | 12.86% | 4.24% | 6.12% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Growth Fund<sup>3, 4</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 19.63% | 8.76% | 10.03% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard LifeStrategy Moderate Growth Fund<sup>3, 4</sup> – Investor <br> Shares<br> *Adviser: Vanguard*<br>| 0.10% | 0.25% | 0.35% | 16.24% | 6.49% | 8.09% |
| **Hybrid**<br> **(Equity and**<br> **Fixed Income)**<br> &nbsp;&nbsp; Vanguard Wellington Fund<sup>3</sup> – Investor Shares<br> *Adviser: Wellington Management*<br>| 0.25% | 0.25% | 0.50% | 16.48% | 9.28% | 10.02% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** | &nbsp;&nbsp; **Average Annual Total Returns**<br> **(as of Dec. 31, 2025)** |
| **Type/ Investment** <br> **Objective** | &nbsp;&nbsp; **Current**<br> **Expenses** | &nbsp;&nbsp; **Platform**<br> **Charge**<sup>6</sup> | &nbsp;&nbsp; **<u>Current</u>**<br> **<u>Expenses</u>**<br> **<u>+</u>**<br> **<u>Platform</u>**<br> **<u>Charge</u>** | **1 Year** | **5 Year** | &nbsp;&nbsp; **10 Year**<br> **(or life**<br> **of fund)**<br>|
| **Fixed Income**<br> &nbsp;&nbsp; Core Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Advisers: PineBridge Investments LLC and JPMIM*<br>| 0.48% |  | 0.48% | 7.64% | -0.16% | 2.36% |
| **Fixed Income**<br> &nbsp;&nbsp; Goldman Sachs VIT Government Money Market Fund<sup>5</sup> – <br> Institutional Shares<br> *Adviser: Goldman Sachs*<br>| 0.18% |  | 0.18% | 4.20% | 3.18% | 2.11% |
| **Fixed Income**<br> &nbsp;&nbsp; Government Securities Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: JPMIM*<br>| 0.58% |  | 0.58% | 6.66% | -0.49% | 1.41% |
| **Fixed Income**<br> &nbsp;&nbsp; High Yield Bond Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.68% |  | 0.68% | 9.37% | 4.20% | 5.92% |
| **Fixed Income**<br> &nbsp;&nbsp; Inflation Protected Fund<sup>2, 5</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: Wellington Management*<br>| 0.54% |  | 0.54% | 6.00% | 1.06% | 2.86% |
| **Fixed Income**<br> &nbsp;&nbsp; International Government Bond Fund<sup>2</sup> <br>*Adviser: VALIC*<br> *Sub-Adviser: PineBridge*<br>| 0.80% |  | 0.80% | 9.15% | -2.01% | 1.64% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Investment-Grade Fund<sup>3</sup> – Investor Shares<br> *Advisers: Wellington Management and Vanguard*<br>| 0.21% |  | 0.21% | 7.18% | -3.74% | 2.68% |
| **Fixed Income**<br> &nbsp;&nbsp; Vanguard Long-Term Treasury Fund<sup>3</sup> – Investor Shares<br> *Adviser: Vanguard*<br>| 0.20% |  | 0.20% | 5.54% | -7.30% | -0.04% |

---

\* Average Annual Total Returns is since inception of the Portfolio Company.

<sup>1</sup> The following adviser/sub-adviser abbreviations are used in this table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allspring – Allspring Global Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ariel – Ariel Investments, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BlackRock – BlackRock Investment Management, LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Goldman Sachs – Goldman Sachs Asset Management, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco – Invesco Advisers, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• JPMIM – J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MFS – Massachusetts Financial Services Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MSIM – Morgan Stanley Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PineBridge – PineBridge Investments LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price – T. Rowe Price Associates, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• VALIC – The Variable Annuity Life Insurance Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard – The Vanguard Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Voya – Voya Investment Management Co. LLC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wellington Management – Wellington Management Company LLP

<sup>2</sup> A VALIC Company I Fund.

<sup>3</sup> A Public Fund. If your Contract is a tax-deferred nonqualified annuity that is not part of your employer's retirement plan, the Variable Investment Options that are invested in Portfolio Companies available to the public outside of annuity contracts, life insurance contracts, or certain employer-sponsored retirement plans ("Public Funds") will not be available within your Contract.

<sup>4</sup> The Vanguard LifeStrategy Funds' board of trustees allocates each Fund's assets among the underlying funds based on the Fund's investment objective and policies. The board may change these allocations from time to time without shareholder approval. The investment adviser to the underlying funds is Vanguard.

<sup>5</sup> This Portfolio Company is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Portfolio Company prospectus for additional information.

<sup>6</sup> A Platform Charge may only be increased to the extent that the Base Contract Expense plus the Platform Charge does not exceed 0.65%.

**Fixed Account Options**

The following is a list of Fixed Account Options currently available under the Contract. We may change the features of the Fixed Account Options listed below, offer new Fixed Account Options, and terminate existing Fixed Account Options. We will provide you with written notice before doing so.

0-4

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**Note: If amounts are withdrawn from a Fixed Account Option before the end of its term, we may apply a Contract Adjustment. This may result in a significant reduction in your Contract value.** 

---

| | | |
|:---|:---|:---|
| **Name** | **Term** | **Minimum Guaranteed Interest Rate** |
| Fixed Account Plus | 1-Year | 1% |
| Short-Term Fixed | 1-Year | 1% |
| Multi-Year Enhanced Option (MVA) | 3-Year, 5-Year, 7-Year, 10-Year | 1% |
| DCA Fixed Account | 6-Month, 12-Month | 1% |

---

**Investment Restrictions For Optional Living Benefits** 

If you elected an optional Living Benefit, as long as your Living Benefit remains in effect, we require that you allocate your investments in accordance with the investment restrictions applicable to that benefit, as described below. Please see "Appendix B – Living Benefits" for additional information about investment restrictions.

For all optional Living Benefits, investments are not permitted in the following:

---

| |
|:---|
| Multi-Year Fixed Option – 3 years |
| Multi-Year Fixed Option – 5 years |
| Multi-Year Fixed Option – 7 years |
| Multi-Year Fixed Option – 10 years |

---

**IncomeLOCK +6 and IncomeLOCK +8** 

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

*If you elected IncomeLOCK +6 (Custom Allocation) on or after February 25, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

---

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Capi Core Fund Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

*If you elected IncomeLOCK +6 (Options 1, 2, or 3) or IncomeLOCK +8 on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining 80% of your Purchase Payments must be allocated among the following investment options:

Core Bond Fund <br>Dynamic Allocation Fund <br>Goldman Sachs VIT Government Money Market Fund <br>Government Securities Fund <br>Inflation Protected Fund <br>International Government Bond Fund <br>Vanguard Long-Term Investment Grade Fund <br>Vanguard Long-Term Treasury Fund <br>Short-Term Fixed Account

*If you elected IncomeLOCK +6 (Custom Allocation) on December 26, 2012 through February 24, 2013, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate 20% of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed Account**<br> **Options**<br>| &nbsp;&nbsp; Fixed Account Plus\*\*<br> Short-Term Fixed Account\*\*<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund\*\*\*<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>| &nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\* No more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account. <br>\*\*\* For Living Benefits with an Endorsement Date prior to November 1, 2011, the Emerging Economies Fund (formerly Global Equities Fund) is in Group B. For Living Benefits with an Endorsement Date on or after November 1, 2011, the Emerging Economies Fund is in Group C.

*If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to December 26, 2012, your Contract is subject to the following investment restrictions while your benefit remains in effect:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You must allocate a certain percentage of your Purchase Payments (including ineligible Purchase Payments) to Fixed Account Plus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit before May 1, 2012, this percentage is 15%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;○ If you elected your benefit after May 1, 2012, this percentage is 20%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Purchase Payments must also be allocated in accordance with the following table:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 30% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

---

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A: Bond, Cash and**<br> **Fixed Accounts\***<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* The required allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A.

\*\*If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

**IncomeLOCK** 

*If you elected IncomeLOCK on or after July 6, 2010, your Contract is subject to the following investment restrictions while your benefit remains in effect.* 

---

| | | | |
|:---|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>| &nbsp;&nbsp; **Group C:**<br> **Limited Equity**<br>|
| **Investment**<br> **Restrictions**<br>| &nbsp;&nbsp; 20% Minimum<br> 100% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 70% Maximum<br>| &nbsp;&nbsp; 0% Minimum<br> 10% Maximum<br>|

---

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| | | |
|:---|:---|:---|
| **Investment**<br> **Group**<br>| &nbsp;&nbsp; **Group A:**<br> **Bond, Cash and**<br> **Fixed Accounts**<br>| &nbsp;&nbsp; **Group B:**<br> **Equity Maximum**<br>|
| **Variable**<br> **Investment**<br> **Options**<br> **and/or**<br> **Fixed**<br> **Account Options**<br>| &nbsp;&nbsp; Fixed Account Plus<br> Short-Term Fixed Account<br> Core Bond Fund<br> Goldman Sachs VIT Government Money <br> Market Fund<br> Government Securities Fund<br> Inflation Protected Fund<br> International Government Bond Fund<br> Vanguard Long-Term Investment Grade Fund<br> Vanguard Long-Term Treasury Fund<br>| &nbsp;&nbsp;&nbsp; Aggressive Allocation Lifestyle Fund<br> American Beacon Man Large Cap Growth <br> Fund<br> Asset Allocation Fund<br> Capital Appreciation Fund<br> Conservative Allocation Lifestyle Fund<br> Dividend Value Fund<br> Dynamic Allocation Fund<br> Emerging Economies Fund<br> Global Strategy Fund<br> Growth Fund<br> High Yield Bond Fund<br> International Equities Index Fund<br> International Growth Fund<br> International Socially Responsible Fund<br> International Value Fund<br> Large Cap Core Fund<br> Mid Cap Index Fund<br> Mid Cap Value Fund<br> Moderate Allocation Lifestyle Fund<br> Stock Index Fund<br> Systematic Core Fund<br> Systematic Growth Fund<br> Systematic Value Fund<br> T. Rowe Price Retirement 2015 Fund<br> T. Rowe Price Retirement 2020 Fund<br> T. Rowe Price Retirement 2025 Fund<br> T. Rowe Price Retirement 2030 Fund<br> T. Rowe Price Retirement 2035 Fund<br> T. Rowe Price Retirement 2040 Fund<br> T. Rowe Price Retirement 2045 Fund<br> T. Rowe Price Retirement 2050 Fund<br> T. Rowe Price Retirement 2055 Fund<br> T. Rowe Price Retirement 2060 Fund<br> U.S. Socially Responsible Fund<br> Vanguard LifeStrategy Conservative Growth <br> Fund<br> Vanguard LifeStrategy Growth Fund<br> Vanguard LifeStrategy Moderate Growth <br> Fund<br> Vanguard Wellington Fund<br> Vanguard Windsor II Fund<br>&nbsp;&nbsp;&nbsp; Ariel Appreciation Fund<br> Ariel Fund<br> Emerging Economies Fund\*<br> Global Real Estate Fund<br> International Opportunities Fund<br> Invesco Balanced-Risk Commodity Strategy <br> Fund<br> Mid Cap Strategic Growth Fund<br> Nasdaq-100<sup>®</sup> Index Fund<br> Science and Technology Fund<br> Small Cap Growth Fund<br> Small Cap Index Fund<br> Small Cap Core Fund<br> Small Cap Value Fund<br>|

---

\* If you elected your benefit prior to November 1, 2011, the Emerging Economies Fund is in Group B.

If you elected IncomeLOCK prior to July 6, 2010, your Contract is not subject to investment restrictions while your benefit remains in effect.

0-9

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**Appendix B — Living Benefits**

------

This Appendix provides information on IncomeLOCK +6, IncomeLOCK +8 (together, "IncomeLOCK Plus") and IncomeLOCK all of which are no longer available for purchase. Effective July 2, 2012, IncomeLOCK is no longer available for purchase. Effective January 1, 2017, IncomeLOCK +6 is no longer available for purchase. Effective February 25, 2013, IncomeLOCK +8 was no longer available for purchase. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

An optional Living Benefit is designed to help you create a guaranteed income stream for as long as you live, or as long as you and your spouse live, or with IncomeLOCK, a specified period for your spouse rather than his or her life, even if the entire Account Value has been reduced to zero, provided withdrawals taken are within the parameters of the applicable feature. A Living Benefit may offer protection in the event your Account Value declines due to unfavorable investment performance, certain withdrawal activity, if you live longer than expected or any combination of these factors. If you decide not to take withdrawals under these features, or you surrender your Contract, you will not receive the guarantees of the Living Benefit. You could pay for this feature and not need to use it. Likewise, depending on your Contract's market performance, you may never need to rely on the protections provided by a Living Benefit. If you elected IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect.

**Table of Contents** 

---

| | |
|:---|:---|
| **Living Benefit Defined Terms** | **B-1** |
| **IncomeLOCK Plus** | **B-2** |
| Fee Table | B-2 |
| IncomeLOCK Plus Fee Formula | B-2 |
| IncomeLOCK Plus Features | B-3 |
| IncomeLOCK Plus Options | B-4 |
| Withdrawals under the Living Benefits | B-8 |
| Death Benefits under IncomeLOCK Plus | B-9 |
| **IncomeLOCK Plus Endorsements Issued Prior to** <br> **February 25, 2013**<br>| **B-10** |
| Fee Tables | B-10 |
| IncomeLOCK Plus Features | B-10 |
| IncomeLOCK Plus Options | B-13 |
| Surrender of Account Value | B-14 |
| Loans | B-14 |
| **IncomeLOCK** | **B-14** |
| Extension Offer | B-14 |
| Fee Table | B-15 |
| IncomeLOCK Features | B-15 |
| Surrender of Account Value | B-17 |
| Death Benefits | B-19 |
| Loans | B-19 |
| Examples | B-<u>19</u> |

---

**<u>Living Benefit Defined Terms</u>** 

**Anniversary Value** — The Account Value minus any Ineligible Purchase Payments as measured on each Benefit Anniversary.

**Benefit Anniversary** — the first day of each Benefit Year.

**Benefit Base** — a component of the calculation of the Living Benefit, which is used to determine the Living Benefit fee, the MAWA and the Protected Income Payment.

**Benefit Quarter Anniversary** — is the first Business Day following each consecutive three month period starting on the Endorsement Date.

**Benefit Year** — each consecutive one year period starting on the Endorsement Date and each Benefit Anniversary, and ending on the day before the next Benefit Anniversary.

**Covered Person(s)** — the person or persons whose life or lives are used to determine the amount and duration of withdrawals under IncomeLOCK Plus. The Covered Persons are selected at the time IncomeLOCK Plus is elected and cannot be changed after the Endorsement Date. Only your life is used to determine the amount and duration of withdrawals for IncomeLOCK.

**Eligible Purchase Payments** — are Purchase Payments or portions thereof made on or after the Endorsement Date that are included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus). Note that all Purchase Payments are not Eligible Purchase Payments for purposes of calculating the Benefit Base.

**Endorsement Date** — the date we issued the Living Benefit endorsement to your Contract.

**Excess Withdrawal** — any withdrawal or portion thereof that causes the total of all withdrawals for that Benefit Year to exceed the Maximum Annual Withdrawal Amount, except if taken to meet a required minimum distribution associated with the Contract to which a Living Benefit endorsement is attached.

**Income Credit** — is an amount that may be added to the Benefit Base during the Income Credit Period.

**Income Credit Base** — is a component of the calculation of IncomeLOCK Plus, which is used to determine the dollar amount of any Income Credit during the Income Credit Period.

**Income Credit Percentage** — a percentage used to calculate any available Income Credit for IncomeLOCK Plus on each Benefit Anniversary during the Income Credit Period.

**Income Credit Period** — is the first twelve Benefit Years during which we calculate an Income Credit that may be added to the Benefit Base for IncomeLOCK Plus.

**Ineligible Purchase Payments** — are Purchase Payments or portions thereof that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable, for IncomeLOCK Plus).

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**Maximum Annual Withdrawal Amount** — the maximum amount that may be withdrawn each Benefit Year and is an amount calculated as a percentage of the Benefit Base.

**Minimum Benefit Base** — is the guaranteed minimum amount to which the Benefit Base could be increased on the 12th Benefit Anniversary for IncomeLOCK Plus, provided no withdrawals are taken prior to that anniversary while the Living Benefit endorsement is in effect.

**Protected Income Payment** — the amount to be paid each year over the remaining lifetime of the Covered Person(s) under IncomeLOCK Plus, after the Account Value is reduced to zero but the Benefit Base is still greater than zero.

**<u>IncomeLOCK Plus</u>** 

The IncomeLOCK Plus Living Benefit is a guaranteed minimum withdrawal benefit. You may elect IncomeLOCK Plus only on your original Contract issue date, subject to certain age requirements. You may elect to have the Living Benefit cover only your life or the lives of both you and your spouse. *If you elected IncomeLOCK +8 or if you elected IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

**Fee Table** 

The fees applicable to this Living Benefit are described below. You should keep in mind that an increase in the Benefit Base due to an adjustment to a higher Anniversary Value, an Income Credit, if applicable, or subsequent Eligible Purchase Payments will result in an increase to the dollar amount of the fee. Similarly, a decrease in the Benefit Base due to withdrawals will decrease the dollar amount of the fee.

The IncomeLOCK Plus fees are assessed as a percentage of the Benefit Base for all years in which the IncomeLOCK Plus benefit is in effect. The fee will be calculated and deducted on a proportional basis from your Account Value at the end of the first quarter following election and quarterly thereafter. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons** | **Initial**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annual**<br> **Fee Rate**<br>| **Minimum**<br> **Annual**<br> **Fee Rate**<br>| **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease**<br> **or Increase\***<br>|
| One Covered Person | 1.10<br> %<br>| 2.20<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|
| Two Covered Persons | 1.35<br> %<br>| 2.70<br> %<br>| 0.60<br> %<br>| &nbsp;&nbsp; +/-0.25<br> %<br>|

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\*

The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change

quarterly subject to the parameters identified in the table above. After the first Benefit Year, on each "Benefit Quarter Anniversary" (every consecutive three months starting on the Endorsement Date), we will deduct the fee in effect for the previous benefit quarter and determine the fee rate applicable to the next benefit quarter. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. Your Fee Rate will increase or decrease on a Benefit Quarter Anniversary based on the change in the average value of the VIX from one Benefit Quarter to the next Benefit Quarter. *See "Fee Tables" in this prospectus. For the formula of how the fee is calculated, see "IncomeLOCK Plus Fee Formula" below.* 

We will not assess a quarterly fee if you annuitize your Contract or if a death benefit is paid before the end of the benefit quarter. If IncomeLOCK Plus is still in effect while your Account Value is greater than zero, and you surrender your Contract, we will assess a pro-rata charge for the fee applicable to the benefit quarter in which the surrender occurs if you surrender your Contract before the end of a benefit quarter. The pro-rata fee is calculated by multiplying the fee by the number of days between the date the fee was last assessed and the date of surrender, divided by the number of days between the prior and the next benefit quarter anniversary. If your Account Value is reduced to zero before IncomeLOCK Plus has been cancelled, the fee will no longer be assessed.

**IncomeLOCK Plus Fee Formula** 

The fee for IncomeLOCK Plus is assessed against the Benefit Base and deducted from the Account Value at the end of each Benefit Quarter.

If you purchased your IncomeLOCK Plus endorsement prior to December 26, 2012, the value of the Volatility Index ("VIX"), an index of market volatility reported by the Chicago Board Options Exchange, used to calculate your fee is the value of the VIX at the end of the Benefit Quarter. If you purchased your IncomeLOCK Plus endorsement on or after December 26, 2012, the value of the VIX used to calculate your fee is the average of the VIX over the Benefit Quarter. The formula is the same, and the only difference is the value of the VIX that is used.

The non-discretionary formula used in the calculation of the Annual Fee Rate applicable after the first Benefit Year is:

**Initial Annual Fee Rate + [0.05% x (Value of the VIX as of Market Close on each day the fee is calculated – 20)]** 

The Initial Annual Fee Rate is guaranteed for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table above. Any fee adjustment is based on the non-discretionary formula stated above which is tied to the change in the VIX. If the value of the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly.

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You may find the value of the VIX for any given day by going to the Chicago Board Options Exchange website, www.cboe.com.

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK +6 with a 6% Income Credit may be elected at the date of Contract issue. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years. The Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals. If you take withdrawals in any Benefit Year in excess of 6%, you will not receive any portion of the 6% Income Credit for that Benefit Year.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Amounts Received Under IncomeLOCK Plus — Summary* 

If you elect IncomeLOCK+6, you may choose from Income Option 1, 2 or 3 or the Income Option with a Custom Allocation, which determines the withdrawal percentages you will receive while the Living Benefit is in effect.

You may begin taking withdrawals as early as age 45. The amounts you receive will vary based on (1) the income option you selected, (2) whether there are one or two Covered Persons, and (3) the age of the Covered Person(s) at the time of the first withdrawal. The percentage of the Benefit Base that is guaranteed by the Living Benefits: (1) while the Account Value is greater than zero ranges from 3.25% to 6.5%, and (2) once the Account Value has been reduced to zero ranges from 3% to 5%. *See the "IncomeLOCK Plus Options — Amounts Received Under the Benefit" in this Appendix for more detailed information.* Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in this prospectus).

*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that 20% of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus. All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

The IncomeLOCK +6 (Options 1, 2 and 3) endorsement requires that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). IncomeLOCK +6 (Custom Allocation) allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short- Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

The 20% automatic allocation to Fixed Account Plus counts against the 30% of your investments that must be allocated to Group A (IncomeLOCK +6 endorsements with Custom Allocation only). The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus

for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

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*Asset Rebalancing Program* 

We will automatically enroll you in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the restrictions. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the automatic allocation. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing.

You may modify the automatic asset rebalancing instructions at any time as long as they are consistent with the restrictions. If the Living Benefit is cancelled or terminated and the Contract remains in-force, investment restrictions will no longer apply.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

*Additional Important Information Applicable to IncomeLOCK Plus* 

**If you elect IncomeLOCK Plus, you will not be able to take a loan while this Living Benefit is in effect. You will need to wait until after the 5th Benefit Year anniversary (the earliest IncomeLOCK Plus termination date), terminate IncomeLOCK Plus and then take a loan. When you terminate IncomeLOCK Plus, you will lose any benefits that you may have had with this feature.** 

Withdrawals under these features are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may withdraw each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus*.

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" and "Federal Tax Matters" sections of this prospectus*.

IncomeLOCK Plus may only be elected on your original Contract issue date, provided you meet the applicable issue age requirements. Note that these features and/or their components may not be available in your state. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*. In addition, effective December 26, 2012, IncomeLOCK Plus is no longer available for new enrollments under plans which are subject to the requirements of Title I of ERISA. This discontinuance will not affect participants who have already elected IncomeLOCK or IncomeLOCK Plus under such plans. Check with your financial professional for availability and any additional restrictions.

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability. **Excess Withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

**IncomeLOCK Plus Options** 

You may elect IncomeLOCK Plus only on your Contract issue date to cover either your life only or the lives of both you and your spouse. We refer to the person or persons whose lifetime withdrawals are guaranteed under IncomeLOCK Plus as the "Covered Person(s)." If your Contract is not owned by a natural person, references to Owner(s) apply to the Annuitant(s). *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products*.

IncomeLOCK +6 locks in the greater of two values in determining the Benefit Base. The Benefit Base determines the basis of the Covered Person(s)' guaranteed lifetime benefit which must be taken in a series of withdrawals. Each consecutive one-year period starting from the Endorsement Date is considered a Benefit Year. While the Benefit Base is greater

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than zero, the Benefit Base is automatically locked in on each Benefit Anniversary, to the greater of (1) the highest Anniversary Value, or (2) the Benefit Base increased by any available Income Credit. The Income Credit is reduced but not eliminated in any Benefit Year in which withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years, even after starting withdrawals. There is an additional guarantee if you do not take any withdrawals before the 12th Benefit Anniversary (the "Minimum Benefit Base"). In that situation, the Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base on the 12th Benefit Anniversary is less than the Minimum Benefit Base, which is equal to 200% of the first Benefit Year's Eligible Purchase Payments.

*Age Requirements and Covered Persons* 

To elect IncomeLOCK Plus, Covered Persons must meet the age requirements set forth below. The age requirement varies depending on the number of Covered Persons. The age requirements for other optional benefits and features under your Contract may be different than those listed here. You must meet the age requirement for those features in order to elect them.

If you elect one Covered Person:

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| | | |
|:---|:---|:---|
|  | **Covered Person** | **Covered Person** |
|  | **Minimum Age** | **Maximum Age** |
| One Covered Person | 45 | 80 |

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If you elect two Covered Persons:

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| | | | |
|:---|:---|:---|:---|
|  | **Covered Person #1** | **Covered Person #1** | **Covered Person #2** |
|  | &nbsp;&nbsp; **Minimum**<br> **Age**<br>| &nbsp;&nbsp; **Maximum**<br> **Age**<br>| &nbsp;&nbsp; **Minimum**<br> **Age**<br>|
| Nonqualified:<br> One Owner<br> with Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|
| Qualified: One<br> Owner with<br> Spousal<br> Beneficiary<br>| 45 | 80 | 45<br> N/A<sup>(1)</sup> <br>|

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(1) The age requirement is based solely on the single owner for purposes of issuing the Contract with the Living Benefit. The spousal beneficiary's age is not considered in determining the maximum issue age of the second Covered Person.

Covered Persons can be any of the following:

If you elect one Covered Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant (for Contracts not naturally-owned)

If you elect two Covered Persons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Contract Owner and the 100% spousal primary beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The annuitant and the 100% spousal primary beneficiary (for Contracts not naturally-owned)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Spousal joint annuitants (for Contracts not naturally-owned)

Ownership changes can affect IncomeLOCK Plus as follows:

If you elect one Covered Person:

An ownership change that removes the Covered Person cancels the feature. Ownership changes that do not cancel the feature:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner: the natural Contract Owner and the annuitant must be the same person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner: the new natural Contract Owner and the annuitant must be the same person.

If you elect two Covered Persons:

Ownership changes that do not eliminate the second Covered Person's guarantee include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Change from a natural to a non-natural Contract Owner (the natural Contract Owner and the annuitant must be the same person); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Change from a non-natural Contract Owner to a natural Contract Owner (the new natural Contract Owner and the annuitant must be the same person).

Ownership changes that eliminate the second Covered Person's guarantee, but still provide the life guarantee for the first Covered Person include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Removal or replacement of the original spousal beneficiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Removal of second Covered Person as Contract Owner or spousal beneficiary as a result of a divorce settlement.

Note also that if a Contract is non-naturally owned, a change of annuitant is not permitted.

*Amounts Received under the Benefit* 

The amount you can receive differs depending on the Income Credit option you have elected and whether the Account Value is greater than or equal to zero. While the Account Value is greater than zero, the Maximum Annual Withdrawal Percentage represents the percentage of the Benefit Base used to calculate the Maximum Annual Withdrawal Amount that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to

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zero, the Protected Income Payment Percentage represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year over the

remaining lifetime of the Covered Person(s). *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.*

The applicable Maximum Annual Withdrawal Percentage and Protected Income Payment Percentage depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. The first percentage represents the Maximum Annual Withdrawal Percentage and the second percentage represents the Protected Income Payment Percentage for each of the options shown.

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons and Age of Covered Person at First Withdrawal** | **Income Option 1** | **Income Option 2** | **Income Option 3** | **Custom Allocation** |
| One Covered Person (Age 64 and Younger) | 5.0% / 3.0%\* | 5.0% / 3.0%\* | 3.75% for Life | 4.5% / 3.0%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4.0% | 6.5% / 3.0% | 5.0% for Life | 4.5% / 4.0% |
| Two Covered Persons (Age 64 and Younger) | 4.5% / 3.0%\* | 4.5% / 3.0%\* | 3.25% for Life | 4.0% /3.0%\* |
| Two Covered Persons (Age 65 and Older) | 5.0% / 4.0% | 6.0% / 3.0% | 4.50% for Life | 4.0% / 4.0% |

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\* The Protected Income Payment Percentage is 4% if the Benefit Base is increased to a new highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

*Calculation of the Value of each Component of the Benefit* 

The benefit offered by IncomeLOCK Plus is calculated by considering the factors described below. *If you purchased IncomeLOCK +8 or if you purchased IncomeLOCK +6 prior to February 25, 2013, see "IncomeLOCK Plus Endorsements Issued Prior to February 25, 2013" in this Appendix for specific provisions applicable to these products.* 

First, we determine the initial Benefit Base. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million (annual cap amount) without our prior approval. The initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000. In addition, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Any Purchase Payments made in contract year 1 in excess of the annual cap amount as well as all Purchase Payments received after the first contract year are considered Ineligible Purchase Payments, and are not included in the Benefit Base. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 (annual cap amount) without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Second, we consider the Income Credit Period. The Income Credit Period is the period of time over which we calculate the Income Credit. The Income Credit Period begins on the Endorsement Date and ends 12 years thereafter. The Income Credit Period may not be extended.

Third, we determine the Anniversary Value which equals your Account Value on any Benefit Anniversary minus any Ineligible Purchase Payments. The highest Anniversary Value is the current Anniversary Value that is greater than (1) all previous Anniversary Values; or (2) Eligible Purchase Payments.

Fourth, we determine the Income Credit Base which is used solely as a basis for calculating the Income Credit during the Income Credit Period. The initial Income Credit Base is equal to the initial Benefit Base. The Income Credit Base is increased by each subsequent Eligible Purchase Payment, and is reduced proportionately for Excess Withdrawals, as defined below.

Fifth, we determine the Income Credit.

The Income Credit is equal to 6% ("Income Credit Percentage") of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. If you take withdrawals in a Benefit Year that are in total less than 6% of the Benefit Base (and therefore, less than your Maximum Annual Withdrawal Amount), the Income Credit Percentage on the Benefit Year anniversary is reduced by a percentage calculated as the sum of all withdrawals taken during the preceding Benefit Year, divided by the Benefit Base. For example, if you take a withdrawal that is equal to 4% of the Benefit Base, the Income Credit Percentage for that Benefit Year is reduced from 6% to 2%. However, if you take a withdrawal that is greater than the Maximum Annual Withdrawal Amount in the preceding Benefit Year, the Income Credit for that Benefit Year is equal to zero.

Sixth, we determine the Maximum Annual Withdrawal Amount, which represents the maximum amount that may be withdrawn each Benefit Year while the Account Value is greater than zero, without reducing the Benefit Base, and if applicable, the Income Credit Base. The Maximum Annual Withdrawal Amount is calculated by multiplying the Benefit Base by the applicable Maximum Annual Withdrawal Percentage. If your Account Value

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is reduced to zero but your Benefit Base is greater than zero, the Protected Income Payment is determined by multiplying the Benefit Base by the applicable Protected Income Payment Percentage.

Finally, we consider any Excess Withdrawals. We define Excess Withdrawals as any withdrawal in a Benefit Year taken after the Maximum Annual Withdrawal Amount has been withdrawn, or any portion of a withdrawal that causes the total withdrawals in a Benefit Year to exceed the Maximum Annual Withdrawal Amount.

*Increase of the Benefit Base and Income Credit Base* 

On each Benefit Anniversary, the Benefit Base is automatically increased to the greater of (1) the highest Anniversary Value; or (2) the current Benefit Base plus the Income Credit, if any. In addition, the Benefit Base can also be increased to at least the Minimum Benefit Base on the 12th Benefit Year anniversary, **provided no withdrawals are taken prior to that anniversary.** 

On each Benefit Anniversary during the Income Credit Period (first 12 Benefit Years following the Endorsement Date), the Income Credit Base is automatically increased to the highest Anniversary Value, if the Benefit Base is also increased to the highest Anniversary Value. The Income Credit Base is not increased if an Income Credit is added to the Benefit Base.

Increases to your Benefit Base and Income Credit Base occur on Benefit Anniversaries while the Account Value is greater than zero. However, Eligible Purchase Payments can increase your Benefit Base and Income Credit Base at the time they are received. **Your Benefit Base and Income Credit Base will not increase if your Account Value was higher on days other than the Benefit Anniversary.** 

In any Benefit Year during which subsequent Eligible Purchase Payments are allocated to your Contract, any remaining withdrawals of the Maximum Annual Withdrawal Amount will be based on the increased Maximum Annual Withdrawal Amount reduced by withdrawals previously taken in that Benefit Year. If the Benefit Base is increased on a Benefit Anniversary, the Maximum Annual Withdrawal Amount will be recalculated on that Benefit Anniversary, applicable to the coming Benefit Year, by multiplying the increased Benefit Base by the applicable Maximum Annual Withdrawal Percentage.

If the Account Value has been reduced to zero, the Benefit Base will no longer be recalculated on each Benefit Anniversary. *See "If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" below.* 

*Impact of Deduction of Advisory Program Fee on Living Benefits* 

If you purchased your Contract and added IncomeLOCK+6 between July 1, 2012 and December 26, 2012, you had the ability to also participate in an Advisory Program. If you did not purchase a Living Benefit between these time frames, enrolling

in an Advisory Program terminated your Living Benefit and the information below does not apply to you.

If you are participating in the Advisory Program and your Investment Adviser's fee is deducted from your Contract, the deduction of the Advisory Program Fee may reduce the Living Benefit. The examples below assess the impact of the payment of an Advisory Program Fee from the Contract value upon the IncomeLOCK +6 Living Benefit, assuming an initial $100 deposit and no additional payments and no withdrawals.

(1) If, by the end of the year, the Contract Value increases to $120 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $119. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year is $106. Since the Contract value of $119 is greater than the Benefit Base of $106, the Living Benefit will be increased up to the Contract value of $119 instead of $120.

(2) If, by the end of the year, the Contract value decreases to $90 and you had $1 deducted for Advisory Program Fees, the Contract value will be reduced to $89. Because your Income Credit is 6% under IncomeLOCK +6, the Benefit Base at the end of the year $106 which will be used because it is higher than the Contract value.

**Please note**, if you are participating in a third-party Advisory Program and have the Advisory Program Fee deducted from your Contract, the deduction of the fees will be deemed a withdrawal and could negatively impact your Benefit Base if the advisory fees and the income amount taken under the Living Benefit exceed the Maximum Annual Withdrawal Amount.

An Advisory Program is not available for Contracts with the IncomeLOCK +8 Living Benefit.

*Cancellation of IncomeLOCK Plus* 

IncomeLOCK Plus may be cancelled by the Contract Owner on any Benefit Quarter Anniversary after the end of the 5th Benefit Year. Cancellation will be effective on the Benefit Quarter Anniversary following receipt of a cancellation request and the fee will continue to be deducted up to and including the cancellation effective date. Prior fees taken are not returned upon cancellation. Once IncomeLOCK Plus is cancelled, the guarantees under the benefit are terminated, investment limitations no longer apply to the Contract and you may not re-elect IncomeLOCK Plus.

*Automatic Termination of IncomeLOCK Plus* 

The feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Any Excess Withdrawal that reduces the Account Value and Benefit Base to zero.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A death benefit is paid, and the Contract is terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Full surrender or termination of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Full or partial annuitization of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Upon the death of the single Covered Person (for single life benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Upon the death of the second (surviving) Covered Person (for joint lives benefit).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Any change of ownership except as noted above.

**Withdrawals under the Living Benefits** 

The timing and amount of withdrawals will affect the amounts received under the Living Benefits, as set forth below in greater detail.

The amount of any withdrawal for any Living Benefit which exceeds the Maximum Annual Withdrawal Amount because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an Excess Withdrawal providing that all of the following conditions are met:

(1) No withdrawals in addition to the RMD are taken in that same year;

(2) Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

(3) If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70 ½ (or your applicable RMD age requirement), or retire, if applicable; and

(4) You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an Excess Withdrawal.

If you have elected IncomeLOCK +6 and the RMD amount is greater than the Maximum Annual Withdrawal Amount, but less than 6% of the Benefit Base, an Income Credit will be included in determining any Benefit Base increase in that Benefit Year.

Withdrawals made under these Living Benefits are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and

conditions of the Contract. The sum of withdrawals in any Benefit Year up to the Maximum Annual Withdrawal Amount will not be assessed a surrender charge.

**You should not elect a Living Benefit if you plan to take Excess Withdrawals since those withdrawals may significantly reduce the value of or terminate the Living Benefit.** 

*Withdrawal under IncomeLOCK Plus* 

The Maximum Annual Withdrawal Amount, the Benefit Base and the Income Credit Base may change over time as a result of the timing and amount of withdrawals. If you take a withdrawal before the 12th Benefit Year anniversary, your Benefit Base is not eligible to be increased to the Minimum Benefit Base.

Withdrawals during a Benefit Year that in total are less than or equal to the Maximum Annual Withdrawal Amount will not reduce the Benefit Base or Income Credit Base. However, if you choose to take less than the Maximum Annual Withdrawal Amount in any Benefit Year, you may not carry over the unused amount for withdrawal in subsequent years.

Excess Withdrawals reduce your Benefit Base on the date the Excess Withdrawal occurs. Any Excess Withdrawal in a Benefit Year reduces the Benefit Base in the same proportion by which the Account Value is reduced by the Excess Withdrawal. As a result of a reduction of the Benefit Base, the new Maximum Annual Withdrawal Amount will be equal to the reduced Benefit Base multiplied by the applicable Maximum Annual Withdrawal Percentage. The last recalculated Maximum Annual Withdrawal Amount in a given Benefit Year is available for withdrawal at the beginning of the next Benefit Year and may be lower than the previous Benefit Year's Maximum Annual Withdrawal Amount. When the Account Value is less than the Benefit Base, Excess Withdrawals will reduce the Benefit Base by an amount which is greater than the amount of the Excess Withdrawal. In addition, no Income Credit will be added to the Benefit Base in that Benefit Year.

The impact of withdrawals on specific factors is further explained below:

**Benefit Base and Income Credit Base**: If the sum of withdrawals in any Benefit Year exceeds the Maximum Annual Withdrawal Amount, the Benefit Base and Income Credit Base will be reduced for those withdrawals. For each Excess Withdrawal taken, the Benefit Base and Income Credit Base are reduced in the same proportion by which the Account Value is reduced by the amount in excess of the Maximum Annual Withdrawal Amount.

**Maximum Annual Withdrawal Amount**: The Maximum Annual Withdrawal Amount is recalculated each time there is a change in the Benefit Base. Accordingly, if the sum of withdrawals in any Benefit Year does not exceed the Maximum Annual Withdrawal Amount for that year, the Maximum Annual Withdrawal Amount will not change for the next year unless your Benefit Base is

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increased. If you take an Excess Withdrawal, the Maximum Annual Withdrawal Amount will be recalculated by multiplying the reduced Benefit Base by the existing Maximum Annual Withdrawal Percentage. This recalculated Maximum Annual Withdrawal Amount is available for withdrawal at the beginning of the next Benefit Year and may be lower than your previous Maximum Annual Withdrawal Amount.

**Protected Income Payment**: If the Benefit Base is greater than zero, but the Account Value has been reduced to zero, we will pay any remaining Maximum Annual Withdrawal Amount for the current Benefit Year. Thereafter, you will receive the Protected Income Payment each year over the remaining lifetime of the Covered Person(s) which is calculated by multiplying the Benefit Base by the applicable Protected Income Payment Percentage. The Benefit Base is no longer increased on Benefit Anniversaries after the Account Value has been reduced to zero. As a result, the Protected Income Payment is calculated once and will not change. See "If your Account Value is Reduced to Zero" below.

*If your Account Value is Reduced to Zero* 

All withdrawals from the Contract, including withdrawals under IncomeLOCK Plus, will reduce your Account Value. Unfavorable investment experience and/or fees may also reduce your Account Value. If the Account Value is reduced to zero but the Benefit Base is greater than zero, we will pay the remaining Maximum Annual Withdrawal Amount. Thereafter we will pay the Protected Income Payment over the remaining lifetime of the Covered Person(s).

**If an Excess Withdrawal reduces your Account Value to zero, no further benefits are payable under the Contract and your Contract along with IncomeLOCK Plus will terminate.** 

If your Account Value is reduced to zero, you may no longer make subsequent Purchase Payments or transfers, and no death benefit is payable. Therefore, you should be aware that, particularly during times of unfavorable investment performance, withdrawals taken under IncomeLOCK Plus may reduce the Account Value to zero, thereby terminating any other benefits of the Contract. In addition, an Income Credit is not available if the Account Value is reduced to zero, even if a benefit remains payable.

When the Account Value equals zero but the Benefit Base is greater than zero, to receive any remaining Living Benefit, you must select one of the following options for payment:

1. The Protected Income Payment divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

2. Any payment option mutually agreeable between you and us.

Once you elect a payment option, it cannot be changed. If you do not select a payment option above, the remaining benefit will

be paid as an amount based on the Protected Income Payment Percentage. This amount will be divided equally and paid on a quarterly basis until the date of death of the Covered Person(s).

*Latest Annuity Date* 

If the Account Value is greater than zero and you have reached the latest Annuity Date, if applicable, the Maximum Annual Withdrawal Amount is no longer available for withdrawal under IncomeLOCK Plus. Rather, the Protected Income Payment will be calculated by multiplying the Benefit Base by the Protected Income Payment Percentage and paid until the death(s) of the Covered Person(s), as discussed under "*If your Account Value is Reduced to Zero" above.* 

If the Account Value and the Benefit Base are greater than zero on the latest Annuity Date, you must select one of the following options:

1. Annuitize the Account Value under the Contract's annuity provisions; or

2. Elect to receive the Protected Income Payment on the latest Annuity Date, divided equally and paid on a monthly, quarterly, semi-annual or annual frequency as selected by you until the date of death of the Covered Person(s); or

3. Any payment option mutually agreeable between you and us.

If you do not elect an option listed above, on the latest Annuity Date, we may annuitize the Account Value in accordance with one of the single or joint life and period certain options under the Annuity Provisions of the Contract or payments that do not exceed your life expectancy as required by the Internal Revenue Service ("IRS").

**Death Benefits under IncomeLOCK Plus** 

If there is one Covered Person and that person dies, the surviving spousal Beneficiary may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract if the Account Value is greater than zero, without IncomeLOCK Plus and its corresponding fee.

If there are two Covered Persons, upon the death of one Covered Person, the surviving Covered Person may elect to:

1. Make a death claim if the Account Value is greater than zero, which terminates IncomeLOCK Plus and the Contract; or

2. Continue the Contract with IncomeLOCK Plus and its corresponding fee.

The components of IncomeLOCK Plus in effect at the time of such continuation will not change. The surviving Covered

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Person can elect to receive withdrawals in accordance with the provisions of IncomeLOCK Plus elected based on the age of the younger Covered Person at the time the first withdrawal was taken. If no withdrawals were taken prior to the continuation, the Maximum Annual Withdrawal Percentage and the Protected Income Payment Percentage will be based on the age of the surviving Covered Person at the time the first withdrawal is taken. If the continuation occurs during the Income Credit Period, the surviving Covered Person will continue to receive any increases to the Benefit Base for highest Anniversary Values or if applicable, any Income Credit while the Account Value is greater than zero. The surviving Covered Person is also eligible to receive the Minimum Benefit Base on the 12th Benefit Anniversary if no withdrawals have been taken during the first 12 Benefit Years following the Endorsement Date.

Upon the death of the Covered Person(s), if the Account Value is greater than zero, a Beneficiary who is not a Covered Person must make an election under the death benefit provisions of the Contract, which terminates IncomeLOCK Plus.

*For more information on death benefits, see "Death Benefits" in the prospectus.* 

**<u>IncomeLOCK Plus Endorsements Issued Prior to February 25,</u> <u>2013</u>** 

Effective February 25, 2013, the IncomeLOCK +8 living benefit is no longer available for purchase. If you elected IncomeLOCK +6 or IncomeLOCK +8 prior to February 25, 2013, the following provisions are applicable to this feature. All other IncomeLOCK Plus information provided in this Appendix under the heading "IncomeLOCK Plus" above applies to your Living Benefit except the following:

**Fee Tables** 

The IncomeLOCK Plus fee is calculated as a percentage of the Benefit Base.<sup>1</sup>

For Endorsement Dates of December 26, 2012 through February 24, 2013:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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For IncomeLOCK Plus Endorsement Dates of May 1, 2012 through December 25, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<sup>3</sup> <br>|
| One Covered Person | 1.30% | 2.60% | +/-0.25% |
| Two Covered Persons | 1.55% | 3.10% | +/-0.25% |

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For Endorsement Dates prior to May 1, 2012:

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| | | | |
|:---|:---|:---|:---|
| **Number of Covered**<br> **Persons**<br>| &nbsp;&nbsp; **Initial Fee**<br> **Rate**<br>| &nbsp;&nbsp; **Maximum**<br> **Annual Fee**<br> **Rate**<sup>2</sup> <br>| &nbsp;&nbsp; **Maximum**<br> **Annualized**<br> **Fee Rate**<br> **Decrease or**<br> **Increase**<br>|
| One Covered Person | 1.10% | 2.20% | +/-0.25% |
| Two Covered Persons | 1.35% | 2.70% | +/-0.25% |

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The fee rate can increase or decrease no more than 0.0625% each Benefit Quarter (0.25%/4).

**IncomeLOCK Plus Features** 

IncomeLOCK Plus offers guaranteed lifetime income plus the opportunity to increase income by locking in the greater of either the Contract's highest Anniversary Value or an annual Income Credit. IncomeLOCK Plus was available with two separate Income Credit options: IncomeLOCK +6, with a 6% Income Credit, and IncomeLOCK +8, with an 8% Income Credit. The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

*Income Credit Options* 

The annual Income Credit is an amount we may add to the Benefit Base each year for the first 12 Benefit Years.

For IncomeLOCK +6, the Income Credit is reduced but not eliminated in any Benefit Year in which cumulative withdrawals are less than 6% of the Benefit Base, thereby providing a guarantee that income can increase during the first 12 years even after starting withdrawals.

For IncomeLOCK +8, the Income Credit is only available in years when no withdrawals are taken.

After the expiration of the Income Credit Period your Benefit Base may continue to be increased to lock in a higher Anniversary Value. In addition, if no withdrawals are taken

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<sup>1</sup>

The fee is assessed against the Benefit Base which determines the basis of the Covered Person(s) guaranteed lifetime benefit. The fee is deducted from your Account Value at the end of the first quarter following election and quarterly thereafter. *For a complete description of how the Benefit Base is calculated for IncomeLOCK Plus, see "IncomeLOCK Plus — IncomeLOCK Plus Options"* in this Appendix.

<sup>2</sup>

The Initial Annual Fee Rate is guaranteed not to change for the first Benefit Year. Subsequently, the fee rate may change quarterly subject to the parameters identified in the table below. Any fee adjustment is based on a non-discretionary formula tied to the change in the Volatility Index ("VIX<sup>®</sup>"), an index of market volatility reported by the Chicago Board Options Exchange. If the VIX increases or decreases on a Benefit Quarter Anniversary, your fee rate will increase or decrease accordingly. *See "IncomeLOCK Plus — IncomeLOCK Plus Fee Formula" in this Appendix.*

<sup>3</sup>

The Minimum Annual Fee Rate for IncomeLOCK Plus is 0.60%.

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during the first 12 years, on the 12th Benefit Anniversary, your Benefit Base will be increased to the Minimum Benefit Base if the Benefit Base is less than this Minimum Benefit Base. The Minimum Benefit Base is equal to 200% of the first Benefit Year's Eligible Purchase Payments if the feature is added on the original Contract issue date or 200% of your Account Value on the Endorsement Date if the feature was added after your original Contract issue date and prior to May 1, 2012.

*Amounts Received Under IncomeLOCK Plus* 

You may begin taking withdrawals as early as age 45. If you elected IncomeLOCK+6 on December 26, 2012 through February 24, 2013, the withdrawal percentage you receive while the Living Benefit is in effect varies according to the Income Credit Option you elected (Option 1, 2, 3 or Custom Allocation).

In addition, if you elected IncomeLOCK +6 or IncomeLOCK +8, your withdrawal percentage will vary primarily depending on (1) whether you elected one or two Covered Persons, (2) the age of the Covered Person(s) at the time of the first withdrawal and (3) whether the Account Value is greater than or equal to zero.

While the Account Value is greater than zero, the MAWP represents the percentage of the Benefit Base used to calculate the MAWA that may be withdrawn each Benefit Year without decreasing the Benefit Base or Income Credit Base. If the Account Value has been reduced to zero, the PIPP represents the percentage of the Benefit Base used to calculate the Protected Income Payment that the client will receive each year

over the remaining lifetime of the Covered Person(s). See "IncomeLOCK Plus — If your Account Value is Reduced to Zero" under the heading "Withdrawals under the Living Benefits" in the prospectus.

The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value is greater than zero, or the MAWP, ranges from 5% to 6% for IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012 and ranges from 4.5% to 5.5% for IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012. The percentage of the Benefit Base that is guaranteed by the Living Benefits while the Account Value has been reduced to zero, or the PIPP, ranges from 3% to 4%. The MAWP and PIPP will vary based on (1) the Living Benefit selected (IncomeLOCK +6 or IncomeLOCK +8), (2) whether there are one or two Covered Person(s), (3) the age of the Covered Person(s) at the time of the first withdrawal, and (4) the Endorsement Date of the Living Benefit.

Note, however, that taxable distributions received before you attain age 59½ are subject to a 10% penalty tax in addition to regular income tax unless an exception applies (both the penalty tax and the exceptions are discussed in the "Federal Tax Matters" section in the prospectus).

The applicable MAWP and PIPP depend on the attained age of the Covered Person(s) at the time of the first withdrawal under the benefit, as set forth below. **The first percentage represents the MAWP and the second percentage represents the PIPP for each of the options shown.**

*For IncomeLOCK Plus with an Endorsement Date on December 26, 2012 through February 24, 2013:* 

**IncomeLOCK +6** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **Income**<br> **Option 1**<br>| &nbsp;&nbsp; **Income**<br> **Option 2**<br>| &nbsp;&nbsp; **Income**<br> **Option 3**<br>| &nbsp;&nbsp; **Custom**<br> **Allocation**<br>|
| One Covered Person (Age 64 and Younger) | 5.5% / 3%\* | 5.5% / 3% | 3.75% for Life | 4.5% / 3%\* |
| One Covered Person (Age 65 and Older) | 5.5% / 4% | 6.5% / 3% | 5% for Life | 4.5% / 4% |
| Two Covered Persons (Age 64 and Younger | 5% / 3%\* | 5% / 3% | 3.25% for Life | 4% / 3%\* |
| Two Covered Persons (Age 65 and Older) | 5% / 4% | 6% / 3% | 4.50% for Life | 4% / 4% |

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\* The PIPP is 4% if the Benefit Base is increased to a new Highest Anniversary Value on or after the Covered Person's 65th birthday or, if two Covered Persons are elected, on or after the younger Covered Person's 65th birthday.

**IncomeLOCK +8** 

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| | |
|:---|:---|
| **Number of Covered Persons**<br> **and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **MAWP**<br> **and**<br> **PIPP**<br>|
| One Covered Person (Age 64 and Younger) | 3.75% for Life |
| One Covered Person (Age 65 and Older) | 4.75% for Life |
| Two Covered Persons (Age 64 and Younger | 3.25% for Life |
| Two Covered Persons (Age 65 and Older) | 4.25% for Life |

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*For IncomeLOCK Plus with an Endorsement Date of May 1, 2012 through December 25, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 5.5% / 3% | 5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 5.5% / 4% | 5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5% / 3% | 4.5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5% / 4% | 4.5% / 4% |

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*For IncomeLOCK Plus with an Endorsement Date prior to May 1, 2012:* 

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| | | |
|:---|:---|:---|
| **Number of Covered Persons and**<br> **Age of Covered Person at First**<br> **Withdrawal**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+6**<br>| &nbsp;&nbsp; **IncomeLOCK**<br> **+8**<br>|
| One Covered Person (Age 64 and <br> Younger)<br>| 6% / 3% | 5.5% / 3% |
| One Covered Person (Age 65 and <br> Older)<br>| 6% /4% | 5.5% / 4% |
| Two Covered Persons (Age 64 and <br> Younger<br>| 5.5% / 3% | 5% / 3% |
| Two Covered Persons (Age 65 and <br> Older)<br>| 5.5% /4% | 5% / 4% |

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*Investment Restrictions* 

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected. All IncomeLOCK Plus endorsements require that a percentage of your Purchase Payments (including Ineligible Purchase Payments) be allocated to Fixed Account Plus (15% if your Endorsement Date was before May 1, 2012 and 20% if your Endorsement Date was after May 1, 2012). All amounts not allocated to Fixed Account Plus, will be rebalanced on a quarterly basis through an automatic rebalancing program as discussed in more detail below.

*Living Benefits Elected on December 26, 2012 through February 24, 2013.* The IncomeLOCK +6 (Options 1, 2 and 3) and IncomeLOCK +8 endorsements require that the remaining 80% of Purchase Payments be allocated among the Dynamic Allocation Fund and the Group A Variable Investment Options referenced below (excluding Fixed Account Plus and Short- Term Fixed Account). The IncomeLOCK +6 endorsement with Custom Allocation allows you to allocate Purchase Payments among the Variable Investment Options from Groups A, B and C to create your personal investment portfolio, subject to the limitations provided in the table below, including that no more

than 90% of each Purchase Payment may be allocated on a combined basis to Fixed Account Plus and Short-Term Fixed Account.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

*Automatic Allocation to Fixed Account Plus* 

We will automatically allocate 15% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was prior to May 1, 2012 or 20% of each Purchase Payment to Fixed Account Plus if your Endorsement Date was after May 1, 2012.

The automatic allocation applies to all Purchase Payments, including Ineligible Purchase Payments that are not included in the calculation of the Benefit Base (and the Income Credit Base and Minimum Benefit Base, if applicable). The automatic allocation must remain invested in Fixed Account Plus for as long as the IncomeLOCK Plus benefit remains in effect. You may not transfer any portion of the automatic allocation to Fixed Account Plus to other investment options under the Contract. You may not request a specific percentage of any withdrawal be deducted solely from the automatic allocation to Fixed Account Plus. Rather, any withdrawal reduces the automatic allocation to Fixed Account Plus in the same proportion that the withdrawal reduces your Account Value.

*Asset Rebalancing Program.* 

If you elected IncomeLOCK Plus, you are automatically enrolled in an automatic asset rebalancing program, with quarterly rebalancing, because market performance and withdrawal activity may result in allocations inconsistent with the investment restrictions noted above. We will also initiate immediate rebalancing in accordance with your automatic asset rebalancing instructions, after any of the following transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any transfer or reallocation you initiate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any withdrawal you initiate.

If you initiate any transfer or reallocation, you must also at that time modify the automatic asset rebalancing instructions. Automatic transfers or Systematic Withdrawals will not result in immediate rebalancing but will wait until the next scheduled quarterly rebalancing.

Each Benefit Quarter, we will rebalance the Contract in accordance with the most current automatic asset rebalancing instructions on file. We will not rebalance your investment in Fixed Account Plus if it would result in the balance in Fixed Account Plus decreasing below the 15% or 20% automatic allocation referenced above. If at any point for any reason, the automatic asset rebalancing instructions would result in allocations inconsistent with the restrictions, we will revert to your last instructions on file that are consistent with the

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restrictions whether for rebalancing or for allocation of a Purchase Payment and implement those at the next balancing. *See the "IncomeLOCK Plus Features — Asset Rebalancing Program" section of this Appendix for additional details of the automatic rebalancing program.* 

*See the "IncomeLOCK Plus Features — Additional Important Information about IncomeLOCK Plus" section in this Appendix for information about your Living Benefit.* 

**IncomeLOCK Plus Options** 

If you elected IncomeLOCK +8, the Income Credit is eliminated in any Benefit Year in which you take a withdrawal.

*Calculation of the Value of each Component of the Benefit* 

The calculation of the initial Benefit Base for IncomeLOCK +6 with Endorsement Dates prior to December 26, 2012 and for IncomeLOCK +8 with Endorsement Dates prior to February 25, 2013 is set forth below. *If you elected IncomeLOCK Plus on or after December 26, 2012, see the section of this Appendix titled "Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

The calculation of other components of the Living Benefit, including the Income Credit Period, the Anniversary Value, the Income Credit Base, the Income Credit (if you elected IncomeLOCK +6), the MAWA and Excess Withdrawals, is calculated as set forth in the section of this Appendix titled *"Calculation of the Value of each Component of the Benefit" under the heading "IncomeLOCK Plus — IncomeLOCK Plus Options."* 

First, we determine the initial Benefit Base. If IncomeLOCK Plus was selected prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1.5 million without our prior approval. If IncomeLOCK Plus is selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK Plus was selected prior to December 26, 2012, certain Purchase Payments received during the first five years after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base, as follows:

1. 100% of Purchase Payments received in the first contract year; and

2. Purchase Payments received in each of contract years 2-5, capped each year at an amount equal to 200% of the Purchase Payments received in contract year 1.

For example, if you made a $100,000 Purchase Payment in contract year 1, Eligible Purchase Payments will include

additional Purchase Payments of up to $200,000 for contract years 2-5 for a grand total maximum of $900,000 of Eligible Purchase Payments.

Any Purchase Payments made after your Endorsement Date (if IncomeLOCK Plus was selected after Contract issue), or any Purchase Payments made in contract years 2-5 in excess of the annual cap amount as well as all Purchase Payments received after the 5th contract year (if IncomeLOCK Plus is selected at Contract issue) are considered Ineligible Purchase Payments, and are not included in the Benefit Base.

If IncomeLOCK +8 was selected on December 26, 2012 through February 24, 2013, certain Purchase Payments received during the first year after your Contract issue date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base.

Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value. Total Eligible Purchase Payments are limited to $1,500,000 without prior Company approval.

The Benefit Base is increased by each subsequent Eligible Purchase Payment and is reduced proportionately for Excess Withdrawals.

If you elect IncomeLOCK +8, the Income Credit is 8% of the Income Credit Base, on each Benefit Anniversary during the Income Credit Period. The Income Credit may only be added to the Benefit Base if no withdrawals are taken in a Benefit Year. For example, if you take a withdrawal in Benefit Year 2, you will not be eligible for an Income Credit to be added to your Benefit Base on your second Benefit Anniversary; however, if you do not take a withdrawal in Benefit Year 3, you will be eligible for an Income Credit to be added to your Benefit Base on your third Benefit Anniversary.

*See "IncomeLOCK Plus Options — Cancellation of IncomeLOCK Plus" under the heading "IncomeLOCK Plus" for information on how you may cancel your Living Benefit.* 

*Automatic Termination of IncomeLOCK Plus* 

In addition to the termination events discussed in this Appendix in the section titled *"IncomeLOCK Plus Options — Automatic Termination of IncomeLOCK Plus" under the heading "IncomeLOCK Plus"*, the feature and its corresponding fees will automatically and immediately terminate upon the occurrence of one of the following:

1. The Contract Owner elects to take a loan from the Contract while the benefit is in effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2. The Contract Owner elects to add Guided Portfolio Services or Guided Portfolio Advantage while the benefit is in effect.

**Surrender of Account Value** 

If you have elected IncomeLOCK +8, no Income Credit will be included in the calculation of the Benefit Base when an RMD is taken.

**Loans** 

If you elected IncomeLOCK Plus prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**<u>IncomeLOCK</u>** 

IncomeLOCK, a Living Benefit, is no longer offered. If you elected IncomeLOCK, the following provisions are applicable to this feature.

In addition to the defined terms in the prospectus, the following defined terms are applicable to the IncomeLOCK Living Benefit:

**Anniversary Value** — the Account Value minus any Ineligible Purchase Payments, as measured on any Benefit Anniversary during the MAV Evaluation Period.

**Maximum Anniversary Value ("MAV") Evaluation Period** — the period beginning on the Endorsement Date and ending on the 10th Benefit Anniversary for IncomeLOCK.

**Minimum Withdrawal Period ("MWP")** — the minimum period over which you may take withdrawals under IncomeLOCK, if withdrawals are not taken under the lifetime withdrawal option.

**Extension Offer** 

The information below is important to you if you purchased a Contract between May 1, 2006 and July 5, 2010 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ends after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it was offered, you will not be permitted to extend the MAV Evaluation Period in the

future. As with all important financial decisions, we recommend that you discuss this with your financial professional.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2006 and July 5, 2010 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.65% | 0.90% |

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As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

The information below is important to you if you purchased a Contract between July 6, 2010 and April 30, 2012 and you elected the IncomeLOCK living benefit. As described this Appendix, the initial MAV Evaluation Period ended after the tenth contract year. On or about your tenth contract anniversary you had an opportunity to extend the MAV Evaluation Period (the "Extension") for an additional ten years. In choosing the Extension, your fee was changed as detailed below. No other parameters or terms of your current benefit changed as a result of the Extension.

If you did not wish to elect the Extension, no further action was required by you. Your benefit will continue without change. You will continue to pay the same fee and can take the Maximum Annual Withdrawal Amount (MAWA) in effect at the end of the MAV Evaluation Period. However, your Benefit Base will no longer be adjusted for higher anniversary values. Please note that if you did not elect the Extension when it is offered, you will not be permitted to extend the MAV Evaluation Period in the future. As with all important financial decisions, we recommend that you discuss this with your financial advisor.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between July 6, 2010 and April 30, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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---

| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.70% | 0.95% |

---

As a reminder, you also had the option to cancel your IncomeLOCK living benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elected to cancel your IncomeLOCK living benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

To elect the Extension, you must have completed the Election Form you received. The terms of the Extension for Contracts purchased between May 1, 2012 and July 2, 2012 are detailed below. The MAV Evaluation Period may be extended for an additional 10-year period.

As long as your Living Benefit endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages applicable to the Living Benefit selected.

If you elected the Extension, the IncomeLOCK fee will be increased by 0.25% as follows:

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| | |
|:---|:---|
| **Current Maximum Annual Fee Rate** | **Annual Fee Rate After Extension** |
| 0.90% | 1.15% |

---

As a reminder, you also have the option to cancel your IncomeLOCK Living Benefit on your tenth contract anniversary, or any contract anniversary thereafter. If you elect to cancel your IncomeLOCK Living Benefit, you will no longer receive the guarantees of IncomeLOCK and you will no longer be charged the fee.

**Fee Table** 

The IncomeLOCK fee is calculated as a percentage of the Benefit Base.<sup>4</sup>

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| |
|:---|
| **Fee Period** |
| All years<br>0.90%<sup>5</sup> <br>|

---

The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit. If your Account Value and/or Benefit Base falls to zero before the feature has been terminated, the fee will no longer be deducted.

We will not assess the quarterly fee if you surrender or annuitize your Contract before the end of a quarter.

**IncomeLOCK Features** 

IncomeLOCK provides for an automatic lock-in of the Contract's highest Anniversary Value during the first ten years from the Endorsement Date (or twenty years, if the benefit is extended). You have the flexibility to receive income under the benefit when and how you need it. Each year, you can withdraw up to 5%, 7% or 10% of your Benefit Base (the total guaranteed amount available for withdrawal), depending on when you take your first withdrawal. A guaranteed lifetime income of 5% is also available if you wait until the Benefit Anniversary following your 65th birthday to take your first withdrawal under the Living Benefit. The MAWP is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Before 5th Benefit Year anniversary: 5%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 5th Benefit Year anniversary: 7%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 10th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after 20th Benefit Year anniversary: 10%

&nbsp;&nbsp;&nbsp;&nbsp;• On or after the Benefit Anniversary following your 65th birthday (for lifetime withdrawals): 5%

*Investment Restrictions* 

As long as your IncomeLOCK endorsement remains in effect, we require that you allocate your investments in accordance with the applicable minimum and maximum percentages below. You may combine Variable Investment Options from Groups A, B and C to create your personal investment portfolio. IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010 are not subject to these investment restrictions.

See "Investment Requirements For Optional Living Benefits" under "Appendix A – Investment Options Available Under the Contract" for the investment restrictions applicable to this optional Living Benefit.

We reserve the right to change the investment requirements at any time for prospectively issued Contracts. We may also revise the investment requirements for any existing Contract to the extent variable or fixed investment options are added, deleted, substituted, merged or otherwise reorganized. We will notify you of any changes to the investment requirements.

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<sup>4</sup>

IncomeLOCK is an optional guaranteed minimum withdrawal benefit. The fee will be calculated and deducted on a proportional basis from your Account Value on the last Business Day of each calendar quarter, starting on the first quarter following your Endorsement Date and ending upon termination of the benefit.

<sup>5</sup>

For IncomeLOCK endorsements with an Endorsement Date from July 6, 2010 to April 30, 2012, the maximum annual fee is 0.70%, and for IncomeLOCK endorsements with an Endorsement Date prior to July 6, 2010, the maximum annual fee is 0.65%. For IncomeLOCK endorsements with an Endorsement Date from May 1, 2012, to July 2, 2012, the maximum annual fee is 0.90%.

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*Additional Important Information about IncomeLOCK* 

**If you take a loan after your IncomeLOCK Endorsement Date, the Living Benefit will automatically be terminated and you will lose any benefits that you may have had with this feature.** Withdrawals under this feature are treated like any other withdrawal for the purpose of calculating taxable income, reducing your Account Value. The withdrawals count toward the 10% you may remove each Contract year without a surrender charge. *See the "Fees and Charges" section of this prospectus.* 

Any withdrawals taken may be subject to a 10% tax penalty if you are under age 59½ at the time of the withdrawal. For information about how these features are treated for income tax purposes, you should consult a qualified tax advisor concerning your particular circumstances. If you set up required minimum distributions ("RMD") and have elected this feature, your distributions must be set up on the automated minimum distribution withdrawal program administered by our Annuity Service Center. Withdrawals greater than the RMD determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account, may reduce the benefits of these features. In addition, if you have a qualified Contract, tax law and the terms of the plan may restrict withdrawal amounts. *See the "Surrender of Account Value" section of this prospectus, including the section in this Appendix, and the "Federal Tax Matters" section of this prospectus.* 

Any amounts that we may pay under a Living Benefit in excess of your Account Value are subject to the Company's financial strength and claims-paying ability.

*IncomeLOCK Components* 

The benefit's components and value may vary depending on when the first withdrawal is taken, the age of the Contract Owner at the time of the first withdrawal and the amount that is withdrawn. Your withdrawal activity determines the time period over which you are eligible to receive withdrawals. You will automatically be eligible to receive lifetime withdrawals if you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and your withdrawals do not exceed the maximum annual withdrawal percentage of 5% in any Benefit Year. You may begin taking withdrawals under the benefit immediately following the date the IncomeLOCK endorsement is issued for your Contract. *See "Surrender of Account Value" in this Appendix for more information regarding the effects of withdrawals on the components of IncomeLOCK and a description of the effect of RMDs on the Living Benefit.* 

The table below is a summary of the IncomeLOCK feature and applicable components of the benefit.

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| | | | |
|:---|:---|:---|:---|
| **Withdrawal** | **MAWP**<br> **Prior**<br> **to any**<br> **Extension**<br>| **Initial**<br> **MWP**<br> **Prior to**<br> **any**<br> **Extension**<br>| **MAWP**<br> **if**<br> **Extension**<br> **is Elected**<br>|
| Before 5th Benefit Anniversary | 5% | 20 Years | 5% |
| On or after 5th Benefit Anniversary | 7% | 14.28 Years | 7% |
| On or after 10th Benefit Anniversary | 10% | 10 Years | 7% |
| On or after 20th Benefit Anniversary | 10% | 10 Years | 10% |
| &nbsp;&nbsp;&nbsp; On or after the Benefit Anniversary<br> following Contract owner's<br> 65th birthday.<br>| 5% | Life of the<br> Contract<br> Owner<sup>6</sup> <br>| 5% |

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*Calculation of the value of each component of the Benefit* 

First, we determine the Benefit Base. If IncomeLOCK was selected after Contract issue and prior to May 1, 2012, the initial Benefit Base is equal to the Account Value on the Endorsement Date, which must be at least $50,000. We reserve the right to limit the Account Value that will be considered in the initial Benefit Base to $1 million without our prior approval. If IncomeLOCK was selected at Contract issue, the initial Benefit Base is equal to the initial Purchase Payment, which must be at least $50,000.

In addition, if IncomeLOCK was selected at Contract issue, the amount of Purchase Payments received during the first two years after your Endorsement Date will be considered Eligible Purchase Payments and will immediately increase the Benefit Base. Any Purchase Payments we receive after your Endorsement Date, if IncomeLOCK was selected after Contract issue (or more than two years after your Endorsement Date, if IncomeLOCK is selected at Contract issue) are considered Ineligible Purchase Payments. Eligible Purchase Payments are limited to $1 million without our prior approval.

On each Benefit Anniversary throughout the MAV Evaluation Period, the Benefit Base automatically adjusts upwards if the current Anniversary Value is greater than both the current Benefit Base and any previous year's Anniversary Value. Other than reductions made for withdrawals (including Excess Withdrawals), the Benefit Base will only be adjusted upwards. Note that during the MAV Evaluation Period the Benefit Base will never be lowered if Anniversary Values decrease as a result of investment performance. *For effects of withdrawals on the Benefit Base, see the "Surrender of Account Value" section in this Appendix.* 

Second, we consider the MAV Evaluation Period, which begins on the Endorsement Date and ends on the 10th anniversary of the Endorsement Date. Upon the expiration of the MAV

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<sup>6</sup>

Lifetime withdrawals are available so long as your withdrawals remain within the 5% MAWP indicated above. If withdrawals exceed the 5% MAWP in any Benefit Year, and if the excess is not solely a result of RMDs attributable to this Contract, lifetime withdrawals will no longer be available. Instead, available withdrawals are automatically recalculated with respect to the MWP and MAWP listed in the table above, based on the time of first withdrawal and reduced for withdrawals already taken.

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Evaluation Period, you may contact us to extend the MAV Evaluation Period for an additional period as discussed further below.

Third, we determine the Anniversary Value, which equals your Account Value on any Benefit Anniversary during the MAV Evaluation Period, minus any Ineligible Purchase Payments. Note that the earnings on Ineligible Purchase Payments, however, are included in the Anniversary Value.

Fourth, we determine the MAWA, which represents the maximum amount that may be withdrawn each Benefit Year without creating an excess withdrawal and is an amount calculated as a percentage of the Benefit Base. The applicable MAWP is determined based on the Benefit Year when you take your first withdrawal, or, for lifetime withdrawals, the age of the owner when the first withdrawal is taken. Applicable percentages are shown in the IncomeLOCK summary table above. If the Benefit Base is increased to the current Anniversary Value, the MAWA is recalculated on that Benefit Anniversary using the applicable MAWP multiplied by the new Benefit Base. If the Benefit Base is increased as a result of Eligible Purchase Payments, the MAWA will be recalculated by multiplying the new Benefit Base by the applicable MAWP.

Lastly, we determine the MWP, which is the minimum period over which you may take withdrawals under this feature. The initial MWP is calculated when withdrawals under the benefit begin, and is re-calculated when the Benefit Base is adjusted to a higher Anniversary Value by dividing the Benefit Base by the MAWA*. See the summary table above for initial MWPs.* The MWPs will be reduced due to Excess Withdrawals. *For effects of withdrawals on the MWP, see the "Surrender of Account Value" section of this prospectus.* 

An Advisory Program is not available with the IncomeLOCK Living Benefit. If you sign up for an Advisory Program, the IncomeLOCK Living Benefit will be terminated.

*Cancellation of IncomeLOCK* 

IncomeLOCK may be cancelled on the 5th Benefit Anniversary, the 10th Benefit Anniversary, or any Benefit Anniversary thereafter. Once IncomeLOCK is cancelled, you will no longer be charged a fee and the guarantees under the benefit are terminated. You may not extend the MAV Evaluation Period and you may not re-elect IncomeLOCK after cancellation.

*Automatic Termination of IncomeLOCK* 

The feature automatically terminates upon the occurrence of one of the following:

1. The MWP has been reduced to zero unless conditions for lifetime withdrawals are met; or

2. Full or partial annuitization of the Contract; or

3. Full surrender of the Contract; or

4. A death benefit is paid; or

5. You elect to take a loan from the Contract; or

6. Your spousal Beneficiary elects to continue the Contract without IncomeLOCK; or

7. You elect to participate in an Advisory Program.

Lifetime withdrawals will not be available in the event of:

1. An ownership change which results in a change of the older Contract Owner;<sup>7</sup> or

2. Withdrawals prior to the Benefit Anniversary following the 65th birthday of the Contract Owner; or

3. Death of the Contract Owner; or

4. A withdrawal in excess of the 5% MAWA.<sup>8</sup>

**Surrender of Account Value** 

The timing and amount of withdrawals will affect the amounts received under IncomeLOCK as set forth below in greater detail.

The amount of any withdrawal for IncomeLOCK which exceeds the MAWA because of RMDs required to comply with the minimum distribution requirements of the Code section 401(a)(9) and related provisions of the Code and regulations, as determined solely with reference to this Contract and the benefits thereunder, will not be treated as an excess withdrawal providing that all of the following conditions are met:

1. No withdrawals in addition to the RMD are taken in that same year;

2. Any RMD withdrawal is based only on the value of the Contract (including endorsements) and the benefits thereunder;

3. If the Endorsement Date is on or before the Required Beginning Date (RBD) of the RMD, you take the first yearly RMD withdrawal in the calendar year you attain age 70½ (or age 72, if applicable), or retire, if applicable; and

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<sup>7</sup>

If a change of ownership occurs from a natural person to a non-natural entity, the original natural older owner must also be the annuitant after the ownership change to prevent termination of lifetime withdrawals. A change of ownership from a non-natural entity to a natural person can only occur if the new natural owner was the original natural older annuitant in order to prevent termination of lifetime withdrawals. Any ownership change is contingent upon prior review and approval by the Company.

<sup>8</sup>

However, if an RMD withdrawal for this Contract exceeds the MAWA, the ability to receive lifetime withdrawals will not be terminated as long as withdrawals of RMDs are determined solely with reference to this Contract and the benefits thereunder, without aggregating the Contract with any other contract or account. See the "Surrender of Account Value" section in this prospectus.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

4. You do not make any RMD withdrawal that would result in you being paid in any Benefit Year more than one calendar year's RMD amount.

Any portion of a RMD withdrawal that is based on amounts greater than those set forth above will be considered an excess withdrawal. This will result in the cancellation of lifetime withdrawals and further may reduce your remaining MWP.

Withdrawals made under IncomeLOCK are treated like any other withdrawals under the Contract for purposes of calculating taxable income, reducing the Account Value, deducting applicable surrender charges or market value adjustments, applying fixed account withdrawal restrictions or free withdrawal amounts and any other features, benefits and conditions of the Contract. The sum of withdrawals in any Benefit Year up to the MAWA will not be assessed a surrender charge.

The MAWA, Benefit Base and MWP may change over time as a result of the timing and amounts of withdrawals.

If you elect to begin withdrawals prior to the Benefit Anniversary following your 65th birthday, you will not be eligible to receive lifetime withdrawals. If you begin withdrawals on or after the Benefit Anniversary following your 65th birthday and wish to receive lifetime withdrawals, the MAWA is calculated as 5% of the Benefit Base. At any time, if the amount of withdrawals exceeds 5% of the Benefit Base in a Benefit Year, you will not be guaranteed to receive lifetime withdrawals. However, you can continue to receive withdrawals over the MWP in amounts up to the MAWA as described above, based on when you made your first withdrawal and reduced by withdrawals already taken.

Total withdrawals in any Benefit Year equal to or less than the MAWA reduce the Benefit Base by the amount of the withdrawal. Withdrawals in excess of the MAWA are considered Excess Withdrawals. We define Excess Withdrawals as either: 1) any withdrawal that causes the total withdrawals in a Benefit Year to exceed the MAWA; or 2) any withdrawal in a Benefit

Year taken after the MAWA has been withdrawn. Excess Withdrawals will reduce the Benefit Base by the greater of: (a) the amount of the Excess Withdrawal; or (b) the relative size of the Excess Withdrawal in relation to the Account Value on the next Benefit Anniversary after the Excess Withdrawal. This means that if Account Value is less than the Benefit Base, withdrawals greater than the MAWA will result in a proportionately greater reduction of the Benefit Base (as described below), which will be more than the amount of the withdrawal itself. This will also reduce your MAWA.

The impact of withdrawals and the effect on each component of IncomeLOCK are further explained below.

**Account Value:** Any withdrawal reduces the Account Value by the amount of the withdrawal.

**Benefit Base:** Withdrawals reduce the Benefit Base as follows:

1. All withdrawals up to the MAWA, and any withdrawals in

excess of the MAWA which are due solely to RMDs (as more specifically described above), will reduce the Benefit Base by the dollar amount of the withdrawal;

2. Excess Withdrawals as described above reduce the Benefit Base to the lesser of (a) or (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is the Benefit Base immediately prior to the Excess Withdrawal minus the amount of the Excess Withdrawal, or;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the Benefit Base immediately prior to the Excess Withdrawal reduced in the same proportion by which the Account Value on the next Benefit Anniversary after the Excess Withdrawal is reduced by the amount of the Excess Withdrawal.

**Maximum Annual Withdrawal Amount (MAWA):** The MAWA will be adjusted as follows:

1. If there are no Excess Withdrawals in a Benefit Year, no further changes are made to the MAWA for the next Benefit Year.

2. If there are Excess Withdrawals in a Benefit Year, the MAWA will be recalculated on the next Benefit Anniversary. The new MAWA will equal the new Benefit Base on that Benefit Anniversary after the Withdrawal divided by the new MWP on that Benefit Anniversary. The new MAWA may be lower than your previously calculated MAWA.

**Minimum Withdrawal Period (MWP):** The MWP is calculated as follows:

1. If there are no Excess Withdrawals during a Benefit Year, the new MWP will be the Benefit Base after the withdrawal divided by the current MAWA.

2. If there are Excess Withdrawals during a Benefit Year, the new MWP will equal the MWP calculated at the end of the prior Benefit Year reduced by one year. In the case of lifetime withdrawals, such an Excess Withdrawal will cancel that period and the new MWP will be determined by dividing the new Benefit Base by the new MAWA.

*If your Account Value is Reduced to Zero* 

If your Account Value is reduced to zero and the Benefit Base is greater than zero, subsequent Purchase Payments will no longer be accepted and a death benefit will not be payable. Further payments under the Contract will be made according to your irrevocable election of one of the following two alternatives:

(1) In a form acceptable to the Company, you may request a lump sum equal to the discounted present value of any remaining guaranteed payments under the benefit; or,

(2) If no lump sum request is received by the Company during the period described in a notice provided to you by the Company, you will receive an annuity according to the annuitization provisions of your Contract. Absent an

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alternative election by you, the annuity will consist of annual payments equal to the MAWA, for a period of years equal to the remaining Benefit Base divided by the MAWA. Such payments will be made quarterly unless otherwise elected, and each individual periodic payment will be equal to the pro-rata portion of the annual MAWA based upon the frequency. Prior to the commencement of such payments, you may also elect to receive an alternative form of annuity, in any other actuarially equivalent form permitted under the Contract, subject to any applicable limitations under the Contract or the Plan.

*Extending the MAV Evaluation Period* 

At the end of the MAV Evaluation Period, as long as the benefit is still in effect and the older owner is age 85 or younger, we guarantee that you will be given the opportunity to extend the MAV Evaluation Period for at least one additional evaluation period of 10 years. If you elect to extend the MAV Evaluation Period, the Benefit Base can continue to be adjusted upward as described above on each anniversary during the new MAV Evaluation Period. Also, if you extend the MAV Evaluation Period, you should note that the components of the feature, such as the fee and MAWP, will change to those in effect at the time you elect to extend. The components and fees may be different from when you initially elected the feature. Additional MAV Evaluation Periods may be offered at our sole discretion.

If you do not contact us to extend the MAV Evaluation Period, the Benefit Base will no longer be adjusted on subsequent Benefit Anniversaries. However, you can continue to take the MAWA in effect at the end of the last MAV Evaluation Period, subject to adjustments for withdrawals. You will continue to pay the fee at the rate that was in effect during the last MAV Evaluation Period and you will not be permitted to extend the MAV Evaluation Period in the future.

**Death Benefits** 

*Spousal Beneficiary* 

Upon the death of the Contract Owner, and subject to any applicable limitations in this Contract, the Code, or under the plan or arrangement under which the Contract is issued, your spousal Beneficiary may elect either (i) to receive a death benefit in accordance with one of the forms permitted under the provisions of this Contract (if the Account Value is greater than zero), (ii) continue this Contract and IncomeLOCK (except as noted below) or (iii) continue the Contract and cancel IncomeLOCK and its accompanying charge. Spousal continuation of the Contract (and IncomeLOCK) is not available if the Contract was set up under one of the following "qualified" plan types: 403(b), 401(k), 401(a) or 457(b). For these Contracts, a spousal Beneficiary, like a non-spousal Beneficiary, cannot continue IncomeLOCK and must take a death benefit under the terms of the Contract. A spousal Beneficiary may

continue IncomeLOCK but only for nonqualified Contracts and IRA plan types (Roth IRA, traditional IRA, SEP, and Simple IRA). Upon election to continue the Contract and IncomeLOCK, your spousal Beneficiary will be subject to the terms and conditions of IncomeLOCK, including the charge. Upon the owner's death, lifetime withdrawals under the IncomeLOCK end and are not available to your spousal Beneficiary. In this event, available withdrawals under IncomeLOCK are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken. The Endorsement Date will not change as the result of spousal continuation.

*Non-Spousal Beneficiary* 

Upon the death of the Contract Owner, if the Account Value is greater than zero, IncomeLOCK will terminate, and your nonspousal Beneficiary(ies) must receive a death benefit in accordance with the otherwise applicable terms of this Contract. If the Account Value is zero upon your death (meaning that no death benefit is payable) but the MWP remaining is greater than zero, a nonspousal beneficiary will receive the remaining value in a lump sum equal to the discounted present value of any remaining guaranteed payments under IncomeLOCK. Upon your death, lifetime withdrawals under the IncomeLOCK end and any available withdrawals under this Endorsement are automatically recalculated with respect to the MWP and MAWP shown in the IncomeLOCK summary table above, based on the time of the first withdrawal under IncomeLOCK and reduced for withdrawals already taken.

**Loans** 

If you elected IncomeLOCK prior to December 26, 2012 and then take a loan while your Living Benefit is in effect, the Living Benefit will automatically terminate and you will lose any benefits that you may have had with these features.

**Examples** 

*IncomeLOCK +6 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +6 features.

Example 1:

Assume you elect IncomeLOCK elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your Income Credit on the 1st Contract anniversary is the Income

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Credit Percentage (6%) multiplied by the Income Credit Base ($100,000) which equals $6,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($6,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $106,000 = $5,300). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,300 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $106,000 = $4,240). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,240 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5300 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $125080 | $118000 | $7080 | $6254 |
| 4th | $110000 | $132160 | $118000 | $7080 | $6608 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $159000 | $150000 | $9000 | $7950 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $159,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $7,950 (5% of the $159,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $7,950 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $159,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $159,000 = $6,360). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,360 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +6, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($7,950), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $7,950), or $4,980. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $7,950. Your Account Value after this portion of the withdrawal is $101,460 ($109,410 — $7,950), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,980 / $101,460 = 4.91%). The Benefit Base is adjusted to $151,193, or $159,000 x 95.09%. The Income Credit Base is adjusted to $142,635 or $150,000 x 95.09%. Your new Income Credit is 6% of your new Income Credit Base (6% x $142,635), which equals $8,558. Your new MAWA is your Benefit Base multiplied by your MAWP ($151,193 x 5%), which equals $7,560. Therefore, if you do not take additional excess withdrawals, you may take up to $7,560 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $151,193, then your Protected Income Payment is 4% of the Benefit Base (4%x$151,193=$6,048). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,048 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |

---

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |
| 9th | $103000 | $154000 | $100000 | $6000 | $8470 |
| 10th | $103000 | $160000 | $100000 | $6000 | $8800 |
| 11th | $103000 | $166000 | $100000 | $6000 | $9130 |

---

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($172,000 = $166,000 + $6,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +6 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $106000 | $100000 | $6000 | $5830 |
| 2nd | $103000 | $112000 | $100000 | $6000 | $6160 |
| 3rd | $103000 | $118000 | $100000 | $6000 | $6490 |
| 4th | $103000 | $124000 | $100000 | $6000 | $6820 |
| 5th | $103000 | $130000 | $100000 | $6000 | $7150 |
| 6th | $103000 | $136000 | $100000 | $6000 | $7480 |
| 7th | $103000 | $142000 | $100000 | $6000 | $7810 |
| 8th | $103000 | $148000 | $100000 | $6000 | $8140 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 9th | $98560 | $151000 | $100000 | $3000 | $8305 |
| 10th | $91010 | $152000 | $100000 | $1000 | $8360 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $148,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $8,140 (5.5% of the $148,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,440 (3% of the $148,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,560 ($103,000 — $4,440). Your Net Income Credit Percentage equals 3% (6% — 3%). Therefore, your new Income Credit is 3% of your Income Credit Base (3% x $100,000), which is $3,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,560) or your Income Credit plus your current Benefit Base ($151,000 = $3,000 + $148,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $7,550 (5% of the $151,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $91,010 ($98,560 — $7,550). Your new Income Credit is 1% (6% — 5%) of your Income Credit Base (1% x $100,000), which is $1,000. Your Benefit Base is equal to the greatest of your Account Value ($91,010) or your Income Credit plus your current Benefit Base ($152,000 = $1,000 + $151,000).

On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $8,360 (5.5% of the $152,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $8,360 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $152,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $152,000 = $6,080). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,080 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK +8 Examples* 

The five examples below demonstrate the operation of the IncomeLOCK +8 features.

Example 1:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments, and no withdrawals before the 1st Contract anniversary. Assume that on your 1st Contract anniversary, your Account Value is $103,000.

Your initial Benefit Base and Income Credit Base are equal to 100% of your Eligible Purchase Payments, or $100,000. Your

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Income Credit on the 1st Contract anniversary is the Income Credit Percentage (8%) multiplied by the Income Credit Base ($100,000) which equals $8,000. On your 1st Contract anniversary, your Benefit Base is equal to the greatest of your current Benefit Base ($100,000), your Account Value ($103,000), or your Income Credit plus your current Benefit Base ($8,000 + $100,000). Assume your MAWA is 5%, then your MAWA if you were to start taking withdrawals after the 1st Contract anniversary is 5% of the Benefit Base (5% x $108,000 = $5,400). Therefore, as of your 1st Contract anniversary, you may take withdrawals of up to $5,400 each year as long as your Account Value is greater than zero and you do not take any Excess Withdrawals. Assume your Protected Income Payment Percentage ("PIPP") is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $106,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $108,000 = $4,320). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $4,320 each year as long as the Covered Person(s) is (are) alive.

Example 2 – Impact of Highest Anniversary Values:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000, and you make no additional Purchase Payments. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5400 |
| 2nd | $118000 | $118000 | $118000 | N/A\* | $5900 |
| 3rd | $107000 | $127440 | $118000 | $9440 | $6372 |
| 4th | $110000 | $136880 | $118000 | $9440 | $6844 |
| 5th | $150000 | $150000 | $150000 | N/A\* | $7500 |
| 6th | $145000 | $162000 | $150000 | $12000 | $8100 |

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\* The Benefit Base calculated based on the highest Anniversary Value is greater than the Income Credit plus the Benefit Base; therefore, the Income Credit Base and Benefit Base are increased to the current Anniversary Value, and the Benefit Base is not increased by the Income Credit.

On your 6th Contract anniversary, your Account Value is $145,000, and your Benefit Base is stepped-up to $162,000 and your Income Credit Base remains unchanged. Assume your Maximum Annual Withdrawal Percentage ("MAWP") is 5%, then your MAWA if you were to start taking withdrawals would be $8,100 (5% of the $162,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 6th Contract anniversary, you may take up to $8,100 each year as long as your accumulation value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $162,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $162,000 = $6,480). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess

Withdrawal, you are guaranteed an income of $6,480 each year as long as the Covered Person(s) is(are) alive.

Example 3 – Impact of Withdrawals in Excess of MAWA:

Assume you elect IncomeLOCK +8, and you invest a single Purchase Payment of $100,000 with no additional Purchase Payments and no withdrawals before the 6th Contract anniversary. Account Values, Benefit Bases, Income Credit Bases, and Income Credits are as described in Example 2 above. Also assume that during your 7th Contract year, after your 6th Contract anniversary, your Account Value is $109,410 and you make a withdrawal of $12,930. Because the withdrawal is greater than your MAWA ($8,100), this withdrawal includes an Excess Withdrawal. In this case, the amount of the Excess Withdrawal is the total amount of the withdrawal less your MAWA ($12,930 — $8,100), or $4,830. First, we process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,100. Your Account Value after this portion of the withdrawal is $101,310 ($109,410 — $8,100), but your Benefit Base and Income Credit Base are unchanged. Next, we recalculate your Benefit Base, Income Credit Base and Income Credit by reducing the Benefit Base and Income Credit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal ($4,830 / $101,310 = 4.77%). The Benefit Base is adjusted to $154,277, or $162,000 x 95.23%. The Income Credit Base is adjusted to $142,849 or $150,000 x 95.23%. Your new Income Credit is 8% of your new Income Credit Base (8% x $142,849), which equals $11,428. Your new MAWA is your Benefit Base multiplied by your MAWP ($154,277 x 5%), which equals $7,714. Therefore, if you do not take additional excess withdrawals, you may take up to $7,714 each year as long as your Account Value is greater than zero. Assume your Protected Income Payment Percentage is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $154,277, then your Protected Income Payment is 4% of the Benefit Base (4%x$154,277=$6,171). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,171 each year as long as the Covered Person(s) is(are) alive.

Example 4 – Impact of Guaranteed Minimum Benefit Base:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 12th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values,

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Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $7480 |
| 7th | $103000 | $156000 | $100000 | $8000 | $7810 |
| 8th | $103000 | $164000 | $100000 | $8000 | $8140 |
| 9th | $103000 | $172000 | $100000 | $8000 | $8470 |
| 10th | $103000 | $180000 | $100000 | $8000 | $8800 |
| 11th | $103000 | $188000 | $100000 | $8000 | $9130 |
| 12th | $103000 | $200000 | $200000 | N/A\* | $11000 |

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\* The Benefit Base calculated based on 200% of the Purchase Payments made in the 1st Contract year is greater than the highest Anniversary Value and the Income Credit plus the Benefit Base; therefore, the Benefit Base and the Income Credit Base are increased to $200,000 on the 12th Contract anniversary.

On your 12th Contract anniversary, your Benefit Base is equal to the greatest of your Account Value ($103,000), your Income Credit plus your current Benefit Base ($196,000 = $188,000 + $8,000), or 200% of the Purchase Payments made in the 1st Contract year ($200,000 = 200% x 100,000). Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $11,000 (5.5% of the $200,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals and begin taking withdrawals as of the 12th Contract anniversary, you may take up to $11,000 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $200,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $200,000 = $8,000). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $8,000 each year as long as the Covered Person(s) is (are) alive.

Example 5 – Impact of Withdrawals without Maximum Anniversary Values:

Assume you elect IncomeLOCK +8 and you invest a single Purchase Payment of $100,000. You make no additional Purchase Payments and no withdrawals before the 8th Contract anniversary. Assume further that on your 1st Contract anniversary, your Account Value increases to $103,000, but through each subsequent Contract year, there is effectively 0% growth net of fees in your Account Value. Therefore, your Benefit Base and Income Credit Base do not increase due to a highest Anniversary Value. Assume that your Account Values, Benefit Bases, Income Credit Bases, Income Credits, and MAWA are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 1st | $103000 | $108000 | $100000 | $8000 | $5940 |
| 2nd | $103000 | $116000 | $100000 | $8000 | $6380 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contract**<br> **Anniversary**<br>| &nbsp;&nbsp; **Account**<br> **Value**<br>| &nbsp;&nbsp; **Benefit**<br> **Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit Base**<br>| &nbsp;&nbsp; **Income**<br> **Credit**<br>| **MAWA** |
| 3rd | $103000 | $124000 | $100000 | $8000 | $6820 |
| 4th | $103000 | $132000 | $100000 | $8000 | $7260 |
| 5th | $103000 | $140000 | $100000 | $8000 | $7700 |
| 6th | $103000 | $148000 | $100000 | $8000 | $8140 |
| 7th | $103000 | $156000 | $100000 | $8000 | $8580 |
| 8th | $103000 | $164000 | $100000 | $8000 | $9020 |
| 9th | $98080 | $169000 | $100000 | $5000 | $9295 |
| 10th | $89630 | $172000 | $100000 | $3000 | $9460 |

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On your 8th Contract anniversary, your Account Value is$103,000, and your Benefit Base is stepped-up to $164,000 and your Income Credit Base remains unchanged. Assume your MAWP is 5.5%, then your MAWA if you were to start taking withdrawals would be $9,020 (5.5% of the $164,000 Benefit Base). Assume that during your 8th Contract year, after your 8th Contract anniversary, you make a withdrawal of $4,920 (3% of the $164,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 9th Contract anniversary will equal $98,080 ($103,000 — $4,920). Your Net Income Credit Percentage equals 5% (8% — 3%). Therefore, your new Income Credit is 5% of your Income Credit Base (5% x $100,000), which is $5,000, because of the withdrawal. Your Benefit Base is equal to the greatest of your Account Value ($98,080) or your Income Credit plus your current Benefit Base ($169,000 = $5,000 + $164,000). Assume that during your 9th Contract year, after your 9th Contract anniversary, you make another withdrawal of $8,450 (5% of the $169,000 Benefit Base) which is less than your MAWA. Then, your Account Value on your 10th Contract anniversary will equal $89,630 ($98,080 — $7, 8450). Your new Income Credit is 3% (8% — 5%) of your Income Credit Base (3% x $100,000), which is $3,000. Your Benefit Base is equal to the greatest of your Account Value ($89,630) or your Income Credit plus your current Benefit Base ($172,000 = $3,000 + $169,000). On your 10th Contract anniversary, if your MAWP is 5.5%, your new MAWA will be $9,460 (5.5% of the $172,000 Benefit Base). Therefore, if you do not take any Excess Withdrawals, you may take up to $9,460 each year as long as your Account Value is greater than zero. Assume your PIPP is 4% and your Benefit Base at the time your Account Value is reduced to zero remains at $172,000, then your Protected Income Payment is 4% of the Benefit Base (4% x $172,000 = $6,880). Therefore, if your Account Value is reduced to zero due to reasons other than an Excess Withdrawal, you are guaranteed an income of $6,880 each year as long as the Covered Person(s) is (are) alive.

*IncomeLOCK Examples* 

The five examples below demonstrate the operation of the IncomeLOCK features.

Example 1:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 1st Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On your 1<sup>st</sup> Benefit Anniversary, your Account Value is $105,000

Your initial Benefit Base is equal to 100% of your Eligible Purchase Payments, or $100,000. On your first Benefit Anniversary, your Benefit Base is equal to the greater of your current Benefit Base ($100,000), or your Account Value ($105,000), which is $105,000. Your Maximum Annual Withdrawal Amount if you were to start taking withdrawals following your first Benefit Anniversary is 5% of the Benefit Base (5% x $105,000 = $5,250). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 20 years ($105,000 divided by $5,250). Therefore, as of your 1st Benefit Anniversary, you may take $105,000 in withdrawals of up to $5,250 annually over a minimum of 20 years. However, if the first withdrawal occurs on or after the Benefit Anniversary following the older owner's 65th birthday and no withdrawal ever exceeds 5% of each year's Benefit Base, then all such withdrawals are guaranteed for the lifetime of the older owner and the Minimum Withdrawal Period does not apply unless lifetime withdrawals are terminated.

Example 2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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On your 5th Benefit Anniversary, your Account Value is $120,000, and your Benefit Base is stepped-up to $120,000. If you were to start taking withdrawals after this anniversary date, your Maximum Annual Withdrawal Amount would be 7% of the Benefit Base (7% x $120,000 = $8,400). The Minimum Withdrawal Period is equal to the Benefit Base divided by the Maximum Annual Withdrawal Amount, which is 14.28 years ($120,000 divided by $8,400). Therefore, as of your 5th Benefit Anniversary, you may take $120,000 in withdrawals of up to $8,400 annually over a minimum of 14.28 years.

Example 3 – The impact of withdrawals that are less than or equal to the Maximum Annual Withdrawal Amount

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK at Contract issue and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit Anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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During your 6th Benefit Anniversary, after your 5th Benefit anniversary, you make a withdrawal of $4,500. Because the withdrawal is less than or equal to your Maximum Annual Withdrawal Amount ($8,400), your Benefit Base ($120,000) is reduced by the total dollar amount of the withdrawal ($4,500) on your next Benefit Anniversary. Your new Benefit Base equals $115,500. Your Maximum Annual Withdrawal Amount remains $8,400. Your new Minimum Withdrawal Period following the withdrawal is equal to the new Benefit Base divided by your current Maximum Annual Withdrawal Amount ($115,500 divided by $8,400). Therefore, following this first withdrawal of $4,500, you may take annual withdrawals of up to $8,400 over the next 13 years, and $6,300 in the 14th (last) Benefit Year.

Example 4 — The impact of withdrawals that are in excess of the maximum annual withdrawal amount:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You elect IncomeLOCK and you invest a single Purchase Payment of $100,000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no additional Purchase Payments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• You make no withdrawals before the 5th Benefit anniversary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your Benefit Anniversary Account Values and Benefit Base values are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Anniversary** | **Account Value** | **Benefit Base** |
| 1st | $105000 | $105000 |
| 2nd | $115000 | $115000 |
| 3rd | $107000 | $115000 |
| 4th | $110000 | $115000 |
| 5th | $120000 | $120000 |

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Assume that during your 6th Benefit Year, after your 5th Benefit Anniversary, you make a withdrawal of $11,688 and your Account Value at your next Benefit Anniversary is $118,000. Because the withdrawal is greater than your Maximum Annual Withdrawal Amount ($8,400), this withdrawal includes an excess withdrawal. In this case, the amount of the excess withdrawal is the total amount of the withdrawal less your

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Maximum Annual Withdrawal Amount ($11,688 - $8,400), or $3,288. On your next Benefit Anniversary, we first process the portion of your withdrawal that is not the Excess Withdrawal, which is $8,400 from the Account Value and the Benefit Base. Your Account Value after this portion of the withdrawal is $109,600 ($118,000 - $8,400). Your Benefit Base after this portion of your withdrawal is $111,600 ($120,000 - $8,400). Next, we recalculate your Benefit Base by taking the lesser of two calculations. For the first calculation, we deduct the amount of the Excess Withdrawal from the Benefit Base ($111,600 - $3,288 = $108,312). For the second calculation, we reduce the Benefit Base by the proportion by which the Account Value was reduced by the Excess Withdrawal. This is accomplished by taking the Benefit Base on the prior Benefit Anniversary ($120,000) less the portion of your withdrawal that

is not the Excess Withdrawal ($8,400) and multiplying this result ($111,600) by 1 minus the Excess Withdrawal ($3,288) divided by the sum of the Account Value on the Benefit Anniversary ($118,000) and the Excess Withdrawal ($3,288) or ($118,000 + $3,288 = $121,288). This calculation equals $108,576 [$111,600 x (1 - $3,288/$121,288) or $111,600 x 97.29%, which equals $108,576]. Your Benefit Base is $108,312, which is the lesser of these two calculations. The Minimum Withdrawal Period following the excess withdrawal is equal to the Minimum Withdrawal Period at the end of the prior year (14.28 years) reduced by one year (13.28 years). Your new Maximum Annual Withdrawal Amount following the excess withdrawal is your Benefit Base divided by your Minimum Withdrawal Period ($108,312 divided by 13.28), which equals $8,156.02.

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**Appendix C — State Contract Variability** 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Prospectus** | **Provision Availability or Variation** | **Issue State** |
| Free Look | Free Look period is 20 days or 30 days if this is a replacement. The Free Look amount is the return of all <br> purchase payments allocated to the contract.<br>| Alaska |
| Free Look | If you are age 65 or older on the Contract issue date, the Free Look period is 30 days. | Arizona |
| Free Look | If you are age 60 or older on the Contract issue date, the Free Look period is 30 days. If you invest in the <br> Fixed Account, the Free Look amount is calculated as the Purchase Payments paid. If you invest in <br> Variable Investment Options, the Free Look amount is calculated as the greater of (1) Purchase <br> Payments or (2) the value of your Contract plus any fees paid on the day we received your request in <br> good order at the Annuity Service Center.<br>| California |
| Free Look | The Free Look period is 21 days and the amount is calculated as the value of your Contract plus fees and <br> charges on the day we receive your request in good order at the Annuity Service Center.<br>| Florida |
| Free Look | The Free Look period is 20 days. | Idaho<br> North Dakota<br> Rhode Island<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the value of your Contract plus fees and charges on the day we <br> received your request in good order at the Annuity Service Center.<br>| Michigan<br> Minnesota<br> Missouri<br> Texas<br>|
| Free Look | The Free Look amount is calculated as the greater of (1) Purchase Payments including fees and charges <br> or (2) the value of your Contract on the day we receive your request in good order at the Annuity Service <br> Center.<br>| Arkansas |
| Free Look | The Free Look period is 20 days. The Free Look amount is the purchase payments made to the fixed <br> interest options and the accumulation value of the variable options on the day the contract is returned. <br> The Free Look period is 60 days for a replacement.<br>| New York |
| DCA Program | If the DCA Program is elected in Alaska, the Multi-Year Option is not available. | Alaska |
| DCA Program | If the DCA Program is elected in Oregon, the minimum required amount is $5,000. | Oregon |
| Death Benefit | Standard Death Benefit is paid on or after age 70 | New York |
| Death Benefit | For Contracts issued on or after March 5, 2012, the interest guaranteed death benefit is available on <br> individual nonqualified Contracts, Roth IRAs or IRAs (issued outside of an employer-sponsored <br> retirement plan) if death occurs prior to age 70; the standard death benefit is payable if death occurs on <br> or after age 70. For Contracts issued in connection with an employer-sponsored retirement plan, only <br> the standard death benefit is payable.<br>| Florida |
| Surrender Charge | For Contracts issued to individuals in the State of Oregon, no surrender charge will be applied to <br> withdrawals if your account has been in effect for 10 years or longer. In addition, we will treat funds <br> withdrawn from such Contract, when such funds are subject to surrender charges, as attributable to <br> Purchase Payments withdrawn on a first-in-first out basis. This procedure applies to Contracts issued <br> on and after July 1, 2017. The amount of the surrender charge for such Contracts will be the lessor <br> of: five percent (5%) of the amount withdrawn which is attributable to Purchase Payments received <br> during the most recent 60 months; or five percent (5%) of the total amount withdrawn.<br>| Oregon |
| Surrender Charge | For ten years from the date the Certificate was issued the charge will be 5% of either (1) the amount <br> withdrawn, or (2) the amount of any Purchase Payments received during the most recent 60 months <br> prior to the surrender or withdrawal, whichever is less. During the eleventh and twelfth Certificate Years, <br> the charge will be the lesser of the charge as described above or 1% of the amount withdrawn.<br>| Texas |
| Premium Tax | We deduct premium tax charges of 0.50% for Qualified Contracts and 2.35% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| California |
| Premium Tax | We deduct premium tax charges of 2.0% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Maine |
| Premium Tax | We deduct premium tax charges of 3.5% for Non-Qualified contracts based on total Purchase payments <br> when you begin the Payout Period.<br>| Nevada |
| Premium Tax | For the first $500,000 in the Contract, we deduct premium tax charges of 1.25% for Non-Qualified <br> Contracts based on total Purchase Payments when you begin the Payout Period. For any amount in <br> excess of $500,000 in the Contract, we deduct front-end premium tax charges of 0.08% for Non-<br> Qualified Contracts based on total Purchase Payments when you begin the Payout Period.<br>| South Dakota |
| Premium Tax | We deduct premium tax charges of 1.00% for Qualified Contracts and 1.00% for Non-Qualified <br> Contracts based on contract value when you begin the Payout Period.<br>| West Virginia |
| Premium Tax | We deduct premium tax charges of 1.00% for Non-Qualified contracts based on total Purchase <br> payments when you begin the Payout Period.<br>| Wyoming |

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**Appendix D — Index Information**

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The Contract is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Contract. The Corporations make no representation or warranty, express or implied to the owners of the Contract or any member of the public regarding the advisability of investing in securities generally or in the Contract particularly, or the ability of the Nasdaq 100 to track general stock market performance. The Corporations' only relationship to the Company ("Licensee") is in the licensing of the Nasdaq® and certain trade names of the Corporations and the use of the Nasdaq 100 which is determined, composed, and calculated by Nasdaq without regard to Licensee or the Contract. Nasdaq has no obligation to take the needs of the Licensee or the owners of the Contract into consideration in determining, composing, or calculating the Nasdaq 100. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Contract to be issued or in the determination or calculation of the equation by which the Contract is to be converted into cash. The Corporations have no liability in connection with the administration, marketing, or trading of the Contract.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE CONTRACT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ 100 OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ 100® OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

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The Statement of Additional Information (SAI) contains additional information about the Contract, the Company, and the Separate Account, including financial statements. The SAI is dated the same date as this prospectus, and the SAI is incorporated by reference into this prospectus. To request a free copy of the SAI, request other information about the Contracts, or make investor inquiries, you may contact us by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mailing: Annuity Service Center, P.O. Box 15648, Amarillo, Texas 79105

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calling: 1-800-448-2542

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Visiting: www.corebridgefinancial.com/rs/prospectus-and-reports/annuities

You may also obtain reports and other information about the Separate Account on the SEC's website at www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR Contract Identifier: C000242996 (For contracts purchased after December 29, 2006)

EDGAR Contract Identifier: C000242997 (For contracts purchased on or before December 29, 2006)

<sup>©</sup> 2026 Corebridge Financial, Inc. <br>All Rights Reserved.

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**THE VARIABLE ANNUITY LIFE INSURANCE COMPANY** 

**SEPARATE ACCOUNT A** <br>**UNITS OF INTEREST UNDER GROUP AND INDIVIDUAL FIXED** <br>**AND VARIABLE DEFERRED ANNUITY CONTRACTS** 

**PORTFOLIO DIRECTOR** <br>**Series 1.00 to 12.00** <br>**Series 1.20 to 13.20** <br>**Series 1.40 to 12.40** <br>**Series 1.60 to 12.60** 

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**STATEMENT OF ADDITIONAL INFORMATION**

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**May 1, 2026** 

This Statement of Additional Information ("SAI") is not a prospectus but contains information in addition to that set forth in the prospectus for Portfolio Director dated May 1, 2026, and should be read in conjunction with the prospectus. The terms used in this SAI have the same meaning as those set forth in the prospectus. A prospectus may be obtained free of charge by calling or writing The Variable Annuity Life Insurance Company (the "Company"), at Annuity Service Center, P.O. Box 15648, Amarillo, Texas 79105; 1-800-448-2542. Prospectuses are also available on the internet at www.corebridgefinancial.com/rs/prospectus-and-reports/annuities.

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**Table of Contents** <br>

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| | |
|:---|:---|
| [General Information and History](#xx_eb258b3b-075e-4d02-88ff-aa629c9473e6_1) | 3 |
| [Non-Principal Risks of Investing in the Contract](#xx_065260b6-440b-44c8-9e25-094ec01241a3_1) | 4 |
| [Services](#xx_065260b6-440b-44c8-9e25-094ec01241a3_1) | 4 |
| [Purchase of Securities Being Offered](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_1) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchanges From Independence Plus Contracts](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_1)<br> [(UIT-585 and UITG-585)](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_1)<br>| 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchanges From V-Plan Contracts](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_1)<br> [(IFA-582 and GFA-582)](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_1)<br>| 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchanges From SA-1 and SA-2 Contracts](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_2)<br> [(GUP-64, GUP-74, GTS-VA)](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_2)<br>| 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchanges From Impact Contracts](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_4)<br> [(UIT-981)](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_4)<br>| 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Exchanges From Compounder Contracts](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_4)<br> [(C-1-75 AND IFA-78)](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_4)<br>| 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Information That May Be Applicable To Any Exchange](#xx_c70f119f-0ba5-4971-a742-e87dd1af57d5_5) | 9 |
| [Calculation of MVA Option](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_1) | 10 |
| [Annuity Payments](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_1) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Assumed Investment Rate](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_1) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount of Payout Payments](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_1) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payout Unit Value](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_2) | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Illustration of Calculation of Payout Unit Value](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_2) | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Illustration of Payout Payments](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_2) | 11 |
| [Underwriters](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_3) | 12 |
| [Financial Statements](#xx_decaa21f-ef71-449d-94d1-69d4e79b725c_3) | 12 |

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**General Information and History**

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Flexible payment deferred annuity contracts ("Contracts") are offered in connection with the prospectus to which this SAI relates. Under flexible payment Contracts, Purchase Payments generally are made until retirement age is reached. However, no Purchase Payments are required to be made after the first payment. Purchase Payments are subject to minimum payment requirements under the Contract. The Contracts are non-participating and will not share in any of the profits of the Company.

**About VALIC** 

We were originally organized on December 21, 1955 as The Variable Annuity Life Insurance Company of America Incorporated, located in Washington, D.C. We reorganized in the State of Texas on August 20, 1968, as Variable Annuity Life Insurance Company of Texas. On November 5, 1968, the name was changed to The Variable Annuity Life Insurance Company. Our main business is issuing and offering fixed and variable retirement annuity contracts, like Portfolio Director. Our principal offices are located at 2919 Allen Parkway, Houston, Texas 77019. We have regional offices throughout the United States. VALIC is an indirect, wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge"). VALIC is obligated to pay full amounts promised to investors under the Contracts, subject to its financial strength and claims-paying ability.

On March 26, 2026, Corebridge and Equitable Holdings, Inc., announced that they entered into a definitive agreement to combine in an all-stock merger. Under the terms of the merger agreement, both companies will become wholly owned subsidiaries of a newly formed holding company, which will be renamed "Equitable Holdings, Inc." upon the closing of the transaction. The transaction is expected to close by year-end 2026, subject to certain regulatory approvals and other customary closing conditions. Upon completion of the transaction, VALIC will be an indirect wholly owned subsidiary of the new Equitable Holdings, Inc.

**About VALIC Separate Account A** 

When you direct money to the Contract's Variable Investment Options, you will be sending that money through VALIC Separate Account A. You do not invest directly in the Portfolio Companies made available in the Contract. VALIC Separate Account A invests in the Portfolio Companies on behalf of your account. VALIC acts as custodian for the Portfolio Company shares owned through the Separate Account. VALIC Separate Account A is made up of what we call "Divisions." Each Division invests in a different Portfolio Company made available through the Contract. The earnings (or losses) of each Division are credited to (or charged against) the assets of that Division, and do not affect the performance of the other Divisions of VALIC Separate Account A.

VALIC established Separate Account A on July 25, 1979 under Texas insurance law. VALIC Separate Account A is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended, (the "1940 Act"). Units of interest in VALIC Separate Account A are registered as securities under the Securities Act of 1933, as amended (the "1933 Act").

VALIC Separate Account A is administered and accounted for as part of the Company's business operations. However, the income, capital gains or capital losses, whether or not realized, of each Division of VALIC Separate Account A are credited to or charged against the assets held in that Division without regard to the income, capital gains or capital losses of any other Division or arising out of any other business the Company may conduct. In accordance with the terms of the Contract, VALIC Separate Account A may not be used to pay any liabilities of the insurance company other than those arising from the Contracts. Income, gains, and losses credited to, or charged against, VALIC Separate Account A reflects its own investment experience and not the investment experience of VALIC's other assets. As stated in the Contract, the Texas Insurance Code requires that the assets of VALIC Separate Account A attributable to the Contract be held exclusively for the benefit of the Contract owner, Participants, annuitants, and beneficiaries of the Contracts.

We are obligated to pay all amounts promised to investors under the Contracts. The commitments under the Contracts are the sole obligation of VALIC and the assets in VALIC Separate Account A may not be used to pay any liabilities of VALIC other than those arising from the Contracts. All amounts paid from our General Account, including our obligations under any Fixed Account Option and any death benefits or Payout Payments, in excess of your amounts in the Separate Account are subject to the Company's financial strength, claims-paying ability, and long-term ability to make payments.

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**Non-Principal Risks of Investing in the Contract**

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**Not applicable.** 

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**Services**

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VALIC acts as custodian of the Separate Account. VALIC has custody of all assets and cash of the Separate Account and handles the collection of proceeds of shares of the Funds bought and sold by the Separate Account.

PricewaterhouseCoopers LLP, located at 300 Madison Avenue, New York, New York 10017, serves as the independent registered public accounting firm for The Variable Annuity Life Insurance Company Separate Account A and The Variable Annuity Life Insurance Company ("VALIC").

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**Purchase of Securities Being Offered**

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In the prospectus we described generally how under certain conditions we will allow you to exchange from other fixed and/or variable contracts we issue (other contracts) to Portfolio Director. A more detailed comparison of the features, charges and restrictions between each of these listed other contracts and Portfolio Director is provided below.

**Exchanges From Independence Plus Contracts** <br>**(UIT-585 and UITG-585)** 

*Sales/Surrender Charges*. Under an Independence Plus Contract, no sales charge is deducted at the time a Purchase Payment is made, but a surrender charge may be imposed on partial or total surrenders. The surrender charge may not exceed 5% of any Purchase Payments withdrawn within five years of the date such Purchase Payments were made. The most recent Purchase Payments are deemed to be withdrawn first. The first partial surrender (or total surrender if there has been no prior partial surrender), to the extend it does not exceed 10% of the Account Value, may be surrendered in a Participant Year without any surrender charge being imposed. Portfolio Director imposes a similar surrender charge upon total or partial surrenders. Both Portfolio Director and Independence Plus Contracts have other similar provisions where surrender charges are not imposed. However, Portfolio Director provides at least one additional provision, not included in Independence Plus Contracts, under which no surrender charge will be imposed. An additional provision allows election of a systematic withdrawal method without surrender charges. For purposes of satisfying the fifteen-year and five-year holding requirements described under "Surrender Charge" in the prospectus, Portfolio Director will be deemed to have been issued on the same date as the Independence Plus Contract or certificate thereunder, but no earlier than January 1, 1982. Purchase Payments exchanged into Portfolio Director and which were made within five years before the date of exchange will be treated as Purchase Payments under Portfolio Director for purposes of calculating the surrender charge. Exchanged payments will be deemed to have been made under Portfolio Director on the date they were made to Independence Plus Contracts for purposes of calculating the surrender charge under Portfolio Director.

*Other Charges*. Under the Independence Plus Contracts, a maintenance charge of $20 is assessed for the first year and an annual charge of $15 is assessed for the second and later years during the accumulation period. The charge is due in quarterly installments. A daily fee is charged at the annual rate of 1% of the daily net asset value allocable to the variable sub-accounts to cover administrative expenses (other than those covered by the annual charge) and mortality risks assumed by the Company. For Portfolio Director, a quarterly account maintenance charge of $3.75 is assessed for each calendar quarter during the Purchase Period during which any Variable Account Option Account Value is credited to a Participant's Account. The fee is to reimburse the Company for some of the administrative expenses associated with the Variable Account Options. No fee is assessed for any calendar quarter if the Account Value is credited only to the Fixed Account Options throughout the quarter. Such fee begins immediately if an exchange is made into any Variable Account Option offered under Portfolio Director. The fee may also be reduced or waived by the Company for Portfolio Director if the administrative expenses are expected to be lower for that Contract. To cover expenses not covered by the account maintenance charge and to compensate the Company for assuming mortality risks and administration and distribution expenses under Portfolio Director, an additional daily charge with an annualized rate of 0.75% to 1.25% (or lower amounts during the Purchase Period for different series of Portfolio Director), depending upon the Variable Account Options selected, if any, on the daily net asset value of VALIC Separate Account A is attributable to Portfolio Director.

*Investment Options*. Under Independence Plus Contracts ten Divisions of VALIC Separate Account A are available variable investment alternatives, each investing in shares of a different underlying fund of VALIC Company I. In addition, two fixed investment options are available. Under Portfolio Director, various divisions of VALIC Separate Account A are available. Each division invests in a different mutual fund. Three fixed investment options are also available.

*Annuity Options*. Annuity options under Independence Plus Contracts provide for payments on a fixed or variable basis, or a combination of both. The Independence Plus Contract permits annuity payments for a designated period between 3 and 30 years. Portfolio Director permits annuity payments for a designated period between of 5 and 30 years. Independence Plus Contracts and Portfolio Director both provide for "betterment of rates." Under this provision, annuity payments for fixed annuities will be based on mortality tables then being used by the Company, if more favorable to the Annuitant than those included in the Contract.

**Exchanges From V-Plan Contracts** <br>**(IFA-582 and GFA-582)** 

*Sales/Surrender Charges*. Under a V-Plan Contract, no sales charge is deducted at the time a Purchase Payment is made, but a surrender charge may be imposed on partial or total surrenders. The surrender charge is equal to 7% of the Purchase Payments withdrawn within five years of the date such Purchase Payments were made. The most recent Purchase Payments are deemed to

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be withdrawn first. The first partial surrender, to the extent it does not exceed 10% of the account value, may be surrendered in a Participant Year without any surrender charge being imposed. Portfolio Director also imposes a surrender charge upon total or partial surrenders. However, the surrender charge under Portfolio Director may not exceed 5% of any Purchase Payments withdrawn within the most recent five years prior to the receipt of the surrender request by the Company at its Home Office. V-Plan Contracts have other provisions where surrender charges are not imposed. However, Portfolio Director provides at least two additional provisions, not included in V-Plan Contracts, under which no surrender charge will be imposed. Those Portfolio Director provisions include no surrender charge on an election of the no charge systematic withdrawal method, and where an employee-Participant has maintained the account for a period of five years and has attained age 59 ½. For purposes of satisfying the fifteen-year and five-year holding requirements, Portfolio Director will be deemed to have been issued on the same date as the V-Plan Contract or certificate thereunder, but no earlier than January 1, 1982.

If there is a total or partial surrender, Purchase Payments exchanged into Portfolio Director and which were made within five years before the date of exchange will be treated as Purchase Payments under Portfolio Director for purposes of calculating the surrender charge. Exchanged payments will be deemed to have been made under Portfolio Director on the date they were made to the V-Plan Contract for purposes of calculating the surrender charge under Portfolio Director.

*Other Charges*. There are no administrative and risk charges under V-Plan Contracts. For Portfolio Director, a quarterly account maintenance charge of $3.75 is assessed for each calendar quarter during the Purchase Period during which any Variable Account Option Account Value is credited to a Participant's Account. The fee is to reimburse the Company for some of the administrative expenses associated with the Variable Account Options. No fee is assessed for any calendar quarter if the Account Value is credited only to the Fixed Account Options throughout the quarter. Such fees begin immediately if an exchange is made into any Variable Account Option offered under Portfolio Director. The fee may also be reduced or waived by the Company on Portfolio Director if the administrative expenses are expected to be lower for that Contract To cover expenses not covered by the account maintenance charge and to compensate the Company for assuming mortality risks and administration and distribution expenses under Portfolio Director, an additional daily charge with an annualized rate of 0.75% to 1.25% (or lower amounts during the Purchase Period for different series of Portfolio Director), depending upon the Variable Account Options selected, if any, on the daily net asset value of the VALIC Separate Account A is attributable to Portfolio Director.

*Investment Options*. There are no variable investment alternatives provided under V-Plan Contracts.

*Annuity Options*. Annuity options under V-Plan Contracts provide for payments on a fixed basis only. The V-Plan Contract permits annuity payments for a designated period of 1 to 15 years. Under a V-Plan Contract, the designated period option may, subject to adverse tax consequences, be commuted at any time for its remaining value. Portfolio Director permits Payout Payments for a designated period of between 5 and 30 years on a fixed basis only. Under Portfolio Director, Payout Payments may be made on a fixed or variable basis, or a combination of both. Portfolio Director does not provide for commutation. V-Plan Contracts and Portfolio Director both provide for "betterment of rates." Under this provision, Payout Payments for fixed annuities will be based on mortality tables then being used by the Company, if more favorable to the Annuitant than those included in the Contract.

**Exchanges From SA-1 and SA-2 Contracts** <br>**(GUP-64, GUP-74, GTS-VA)** 

*Agents' and Managers' Retirement Plan Exchange Offer*. All eligible agents and managers of the Company are allowed to participate in the Company's Agents' and Managers' Retirement Plan ("Plan"). We grant to participants in the Plan the right to effect a voluntary exchange of their units of interest under the SA-1 Contracts and Independence Plus Contracts for the equivalent units of interest in Portfolio Director. Agents and managers of VALIC who enter into the voluntary exchange will not incur under Portfolio Director any surrender charges or account maintenance charges. Other individuals who may exchange to Portfolio Director from SA-1 or Independence Plus Contracts may have surrender charges and account maintenance charges imposed under Portfolio Director. All other provisions with regard to exchange offers will apply to the Plan Exchange Offer.

Pursuant to this voluntary exchange offer, participants in the Plan will have three options from which to choose. As to the funding vehicle for a Purchase Payment plan, the participant may choose to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Remain in the SA-1 Contract and Independence Plus Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Leave current assets in the SA-1 Contract or Independence Plus Contract and direct future Purchase Payments to Portfolio Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transfer all current assets and future Purchase Payments to Portfolio Director.

If the participant chooses to remain in either the SA-1 Contract or Independence Plus Contract, future Purchase Payments and current assets will be controlled by the provisions of the SA-1 Contract or Independence Plus Contract, respectively. If the

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participant chooses to leave current assets in the SA-1 Contract or the Independence Plus Contract, and direct future Purchase Payments to Portfolio Director, the current assets will be controlled by the provisions of the SA-1 Contract or the Independence Plus Contract, respectively. The future Purchase Payments will be controlled by the terms of Portfolio Director subject to the exception that surrender charges and account maintenance charges will not be imposed under Portfolio Director. If the participant chooses to transfer all current assets and future Purchase Payments to Portfolio Director, such current assets and future Purchase Payments will be controlled by the provisions of Portfolio Director subject to the exception that surrender charges and account maintenance charges will not be imposed under Portfolio Director.

Once a participant transfers assets and future Purchase Payments to Portfolio Director the participant will not be permitted to exchange back to the SA-1 Contract or Independence Plus Contract. If a participant chooses to transfer future Purchase Payments but not current assets to Portfolio Director, the participant will be allowed at a later date to transfer the current assets to Portfolio Director. For a complete analysis of the differences between the SA-1 contract or the Independence Plus Contract and Portfolio Director, you should refer to the form of the contract or certificate for its terms and conditions.

*Sales/Surrender Charges*. Under the SA-1 and SA-2 Contracts a sales and administrative charge is deducted from each Purchase Payment. This charge ranges from 5% of the first $5,000 of Purchase Payments to 3% of Purchase Payments in excess of $15,000. If a SA-1 or SA-2 Contract is exchanged for Portfolio Director the surrender charge under Portfolio Director will not apply to the amount of Account Value applied to Portfolio Director ("Exchanged Amount"). Purchase Payments made to Portfolio Director, however, would be subject to a surrender charge. In the case of a partial surrender, all Purchase Payments to Portfolio Director will be deemed to be withdrawn before any Exchanged Amount is deemed to be withdrawn. No exchange pursuant to this offer will be allowed within 120 days of a transfer of fixed accumulations under a SA-1 or SA-2 Contract to the variable portion of such Contract. Under Portfolio Director, no sales charge is deducted at the time a Purchase Payment is made, but a surrender charge may be imposed on partial or total surrenders. The surrender charge may not exceed 5% of any Purchase Payments withdrawn within the most recent five years prior to the receipt of the surrender request by the Company at its Home Office. For purposes of this surrender charge, the most recent Purchase Payments are deemed to be withdrawn first.

*Other Charges*. A charge of a percentage of each Purchase Payment is made for administrative expenses for SA-1 and SA-2 Contracts. The charge is generally 1.25% and is included in the above sales and administrative charge. An additional daily charge (at an annual rate of 1% of total net assets attributable to SA-1 Contracts and ranging from .21% to .85% of total net assets attributable to SA-2 Contracts) is made for mortality and expense risks assumed by the Company under the variable portion of the Contract. The total of these expenses and other charges is limited to a maximum of the rate imposed on SA-1 and SA-2 Contracts on April 1, 1987. (See prospectus for SA-1 and SA-2 contracts dated April 20, 1987.) For Portfolio Director, a quarterly account maintenance charge of $3.75 is assessed for each calendar quarter during the Purchase Period during which any Variable Account Option Account Value is credited to a Participant's Account. The fee is to reimburse the Company for some of the administrative expenses associated with the Variable Account Options. No fee is assessed for any calendar quarter if the Account Value is credited only to the Fixed Account Options throughout the quarter. Such fee begins immediately if an exchange is made into any Variable Account Option offered under Portfolio Director. The fee may also be reduced or waived by the Company on Portfolio Director if the administrative expenses are expected to be lower for that Contract. To cover expenses not covered by the account maintenance charge and to compensate the Company for assuming mortality risks and administration and distribution expenses under Portfolio Director, an additional daily charge with an annualized rate of 0.75% to 1.25% (or lower amounts during the Purchase Period for different series of Portfolio Director), depending upon the Variable Account Options selected, if any, on the average daily net asset value of the Separate Account is attributable to Portfolio Director. (See "Separate Account Charges" and "Separate Account Expense Reimbursement" in the prospectus.)

*Investment Options*. Under SA-1 and SA-2 Contracts only one Division of VALIC Separate Account A is available as a variable investment alternative. This Division invests in a portfolio of VALIC Company I, the Stock Index Fund. Under a "grandfathering" arrangement, the total advisory fees and certain other charges imposed against these Contracts are limited to a maximum of the rate charged on April 1, 1987. The maximum expense ratio for the GUP and GTS VA Contracts is 1.4157% and 0.6966%, respectively. (See the prospectus for these Contracts dated April 20, 1987.) Under Portfolio Director, various divisions of VALIC Separate Account A are available. Each division invests in a different mutual fund. Three fixed investment options are also available.

*Annuity Options*. Annuity options under the SA-1 and SA-2 Contracts provide for payments on a fixed or variable basis, or a combination of both. The SA-1 Contract annuity payments under a designated period option are limited to 15 years on a fixed basis only. Under this Contract, the designated period option may, subject to adverse tax consequences, be commuted at any time for its remaining value. SA-2 Contracts do not provide a designated period option nor do they provide for commutation. Portfolio Director permits Payout Payments for a designated period of between 5 and 30 years. The SA-1 and SA-2 Contracts make no provision for transfers from a separate account to a fixed annuity during the annuity period. This option, subject to certain conditions, is available under Portfolio Director. The SA-1 Contracts provide an option for monthly variable annuity payments to be made at a level payment basis during each year of the annuity period. Portfolio Director does not provide this option. SA-1

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and Portfolio Director, but not SA-2 Contracts, both provide for "betterment of rates." Under this provision, Payout Payments for fixed annuities will be based on mortality tables then being used by the Company, if more favorable to the Annuitant than those included in the Contract.

**Exchanges From Impact Contracts** <br>**(UIT-981)** 

*Sales/Surrender Charges*. Under an Impact Contract, no sales charge is deducted at the time a Purchase Payment is made, but a surrender charge may be imposed on partial or total surrenders. The surrender charge is equal to 5% of the Purchase Payments withdrawn within three years of the date such Purchase Payments were made. However, in any Participant Year, the first withdrawal of up to 10% of the account value will not be subject to a surrender charge. The most recent Purchase Payments are deemed to be withdrawn first. Portfolio Director also imposes a surrender charge upon total or partial surrenders which may not exceed 5% of any Purchase Payments withdrawn within the most recent five years prior to the receipt of the surrender request by the Company at its Home Office. Portfolio Director also has other provisions where surrender charges are not imposed. For purposes of satisfying the fifteen- year and five-year holding requirements, Portfolio Director will be deemed to have been issued on the same date as the Impact Contract, or certificate thereunder, but no earlier than January 1, 1982. Only Purchase Payments exchanged into Portfolio Director which were made within three years before the date of exchange will be treated as Purchase Payments under Portfolio Director for purposes of calculating the surrender charge. Exchanged payments will be deemed to have been made under Portfolio Director on the date they were made to Impact Contracts for purposes of calculating the surrender charge under Portfolio Director.

*Other Charges*. Under Impact Contracts, a $30 annual charge is assessed once a year to cover administrative expenses. The charge may, with prior regulatory approval if required, be increased or decreased. In addition, a daily charge is made at an annual rate of 1% of the net asset value allocable to the Impact Contracts to cover administrative expenses (other than those covered by the annual charge) and mortality risks assumed by the Company. For Portfolio Director, a quarterly account maintenance charge of $3.75 is assessed for each calendar quarter during the Purchase Period during which any Variable Account Option Account Value is credited to a Participant's Account. The charge is to reimburse the Company for some of the administrative expenses associated with the Variable Account Options. No charge is assessed for any calendar quarter if the Account Value is credited only to the Fixed Account Options throughout the quarter. Such charge begins immediately if an exchange is made into any Variable Account Option offered under Portfolio Director. The charge may also be reduced or waived by the Company on Portfolio Director if the administrative expenses are expected to be lower for that Contract. To cover expenses not covered by the account maintenance charge and to compensate the Company for assuming mortality risks and administration and distribution expenses under Portfolio Director, an additional daily charge with an annualized rate of 0.75% to 1.25% (or lower amounts during the Purchase Period for different series of Portfolio Director), depending upon the Variable Account Options selected, if any, on the daily net asset value of the Separate Account is attributable to Portfolio Director.

*Investment Options*. Under the Impact Contract five Divisions of Separate Account A are available as variable investment alternatives, each investing in shares of a different underlying fund of VALIC Company I. Under Portfolio Director, various divisions of VALIC Separate Account A are available. Each division invests in a different mutual fund. Three fixed investment options are also available.

*Annuity Options*. Annuity options under Impact Contracts provide for payments on a fixed or variable basis, or a combination of both. The Impact Contract permits annuity payments for a designated period of 1 to 15 years. Under an Impact Contract, the designated period option may, subject to adverse tax consequences, be commuted at any time for its remaining value. Portfolio Director permits Payout Payments for a designated period of between 5 and 30 years. Impact Contracts and Portfolio Director both provide for "betterment of rates." Under this provision, Payout Payments for fixed annuities will be based on mortality tables then being used by the Company, if more favorable to the Annuitant than those included in the Contract.

**Exchanges From Compounder Contracts** <br>**(C-1-75 AND IFA-78)** 

*Sales/Surrender Charges*. Under a Compounder Contract a sales and administrative charge is deducted from each Purchase Payment. This charge ranges from 5% of the first $5,000 of Purchase Payments to 3% of Purchase Payments in excess of $15,000. If a Compounder Contract is exchanged for Portfolio Director the surrender charge under Portfolio Director will not apply to the amount of Account Value applied to Portfolio Director. Purchase Payments made to Portfolio Director, however, would be subject to the surrender charge under Portfolio Director. In the case of a partial surrender, all Purchase Payments to Portfolio Director will be deemed to be withdrawn before any Exchanged Amount is deemed to be withdrawn. Under Portfolio Director, no sales charge is deducted at the time a Purchase Payment is made, but a surrender charge may be imposed on partial or total surrenders. The surrender charge may not exceed 5% of any Purchase Payments withdrawn within the most recent five years prior to the

------

receipt of the surrender request by the Company at its Home Office. For purposes of this surrender charge, the most recent Purchase Payments are deemed to be withdrawn first.

*Other Charges*. A charge of a percentage of each Purchase Payment is made for administrative expenses under a Compounder Contract. The charge is 1.25% and is included in the above sales charge. For Portfolio Director, a quarterly account maintenance charge of $3.75 is assessed for each calendar quarter during the Purchase Period during which any Variable Account Option Account Value is credited to a Participant's Account. The fee is to reimburse the Company for some of the administrative expenses associated with the Variable Account Options. No fee is assessed for any calendar quarter if the Account Value is credited only to the Fixed Account Options throughout the quarter. Such fee begins immediately if an exchange is made into any Variable Account Option offered under Portfolio Director. The fee may also be reduced or waived by the Company for Portfolio Director if the administrative expenses are expected to be lower for that Contract. To cover expenses not covered by the account maintenance charge and to compensate the Company for assuming mortality risks and administration and distribution expenses under Portfolio Director, an additional daily charge with an annualized rate of 0.75% to 1.25% (or lower amounts during the Purchase Period for different series of Portfolio Director), depending upon the Variable Account Options selected, if any, on the daily net asset value of the Separate Account is attributable to Portfolio Director.

*Investment Options*. There are no variable investment alternatives provided under Compounder Contracts.

*Annuity Options*. Payout Payments under a Compounder Contract are on a fixed basis only and the designated period option is limited to a period of 15 years. However, under a Compounder Contract, the designated period option may, subject to adverse tax consequences, be commuted at any time for its remaining value. Portfolio Director allows Payout Payments be made on a fixed or variable basis, or both. One option under Portfolio Director provides for a designated period of 5 and 30 years. Unlike Portfolio Director, the Compounder Contracts contain no "betterment of rates" provision.

**Information That May Be Applicable To Any Exchange** 

*Guaranteed Annuity Rates*. Mortality rates have improved since annuity rates were developed for the other contracts. Therefore, the annuity rates guaranteed in Portfolio Director are less favorable to Contract Owners and Annuitants than those guaranteed in the other contracts. However, the current annuity rates being charged for fixed annuities under the "betterment of rates" provisions discussed above are more favorable than those guaranteed under Portfolio Director or the other contracts. Of course, no assurance can be given that this will continue to be true at the time of annuitization for a given contract. Guaranteed annuity rate tables are set forth in your Contract or in current endorsements thereto. Those guaranteed for Portfolio Director are set forth therein, and copies may be obtained from the Company.

To satisfy a federal tax law requirement, non-spouse Beneficiaries under Portfolio Director generally must receive the entire benefit payable upon the death of the Annuitant over their life expectancy or within five years of the Annuitant's death. This requirement may be inapplicable to certain other contracts or certificates issued before January 19, 1985 if not exchanged.

Under certain deferred annuity contracts issued before October 21, 1979, upon the death of the owner the entire value of the contract as of the date of death may be received income tax free by the Beneficiary. This will not apply to contracts that have been exchanged on or after October 21, 1979.

*Group Unallocated Contracts*. We do not allow exchanges from group unallocated Contracts.

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**Calculation of MVA Option**

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The effect of the market value adjustment may be positive or negative. If, for example, on the date of a withdrawal, the index rate described below (plus 0.5%) is higher than that index rate as of the Contract's date of issue, the effect of the market value adjustment will be negative. If, for example, on the date of a withdrawal, the index rate (plus 0.5%) is lower than that index rate as of the Contract's date of issue, the effect of the market value adjustment will be positive. Any negative adjustment will be waived to the extent that it would decrease the withdrawal value below the minimum guaranteed value.

The market value adjustment is determined by the formula below, using the following factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **A** is an index rate determined at the beginning of each MVA term, for a security with time to maturity equal to that MVA term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **B** is an index rate determined at the time of withdrawal, for a security with time to maturity equal to the current MVA term;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **N** is the number of months remaining in the current MVA term (rounded up to the next higher number of months); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The index rates for A and B will be the U.S. Treasury Yield as quoted by Bloomberg or a comparable financial market news service, for the maturity equal to the MVA term, using linear interpolation as appropriate.

The market value adjustment will equal:

The amount surrendered or transferred out prior to the end of the MVA term multiplied by:

[(1+A)/(1+B+0.005)]<sup>(N/12)</sup> - 1

The market value adjustment will be added to or deducted from the amount being withdrawn or transferred.

Index rates for any calendar month will equal the average of index rates for the last 5 trading days of the previous calendar month.

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**Annuity Payments**

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**Assumed Investment Rate** 

The discussion concerning the amount of Payout Payments which follows this section is based on an Assumed Investment Rate of 3½% per annum. However, the Company will permit each Annuitant choosing a variable payout option to select an Assumed Investment Rate permitted by state law or regulations other than the 3½% rate described here as follows: 3%, 4½%, 5% or 6% per annum. (Note: an Assumed Investment Rate higher than 5% may not be selected under individual Contracts.) The foregoing Assumed Investment Rates are used merely in order to determine the first monthly payment per thousand dollars of value. It should not be inferred that such rates will bear any relationship to the actual net investment experience of VALIC Separate Account A.

**Amount of Payout Payments** 

The amount of the first variable Payout Payment to the Annuitant will depend on the amount of the Account Value applied to effect the variable annuity as of the tenth day immediately preceding the date Payout Payments commence, the amount of any premium tax owed, the annuity option selected, and the age of the Annuitant.

The Contracts contain tables indicating the dollar amount of the first Payout Payment under each payout option for each $1,000 of Account Value (after the deduction for any premium tax) at various ages. These tables are based upon the Annuity 2000 Table (promulgated by the Society of Actuaries) and an Assumed Investment Rate of 3%, 3½%, 4% and 5% per annum (3½% in the group Contract).

The portion of the first monthly variable Payout Payment derived from a Division of VALIC Separate Account A is divided by the Payout Unit value for that Division (calculated ten days prior to the date of the first monthly payment) to determine the number of Payout Units in each Division represented by the payment. The number of such units will remain fixed during the

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Payout Period, assuming the Annuitant makes no transfers of Payout Units to provide Payout Units under another Division or to provide a fixed annuity.

In any subsequent month, the dollar amount of the variable Payout Payment derived from each Division is determined by multiplying the number of Payout Units in that Division by the value of such Payout Unit on the tenth day preceding the due date of such payment. The Payout Unit value will increase or decrease in proportion to the net investment return of the Division or Divisions underlying the variable payout since the date of the previous Payout Payment, less an adjustment to neutralize the 3½% or other Assumed Investment Rate referred to above.

Therefore, the dollar amount of variable Payout Payments after the first year will vary with the amount by which the net investment return is greater or less than 3½% per annum. For example, if a Division has a cumulative net investment return of 5% over a one year period, the first Payout Payment in the next year will be approximately 1½ percentage points greater than the payment on the same date in the preceding year, and subsequent payments will continue to vary with the investment experience of the Division. If such net investment return is 1% over a one year period, the first Payout Payment in the next year will be approximately 2½ percentage points less than the payment on the same date in the preceding year, and subsequent payments will continue to vary with the investment experience of the applicable Division.

Each deferred Contract provides that, when fixed Payout Payments are to be made under one of the first four payout options, the monthly payment to the Annuitant will not be less than the monthly payment produced by the then current settlement option rates, which will not be less than the rates used for a currently issued single payment immediate annuity contract. The purpose of this provision is to assure the Annuitant that, at retirement, if the fixed payout purchase rates then required by the Company for new single payment immediate annuity Contracts are significantly more favorable than the annuity rates guaranteed by a Contract, the Annuitant will be given the benefit of the new annuity rates.

**Payout Unit Value** 

The value of a Payout Unit is calculated at the same time that the value of a Purchase Unit is calculated and is based on the same values for Fund shares and other assets and liabilities. (See "Purchase Period" in the prospectus.) The calculation of Payout Unit value is discussed in the prospectus under "Payout Period."

The following illustrations show, by use of hypothetical examples, the method of determining the Payout Unit value and the amount of variable annuity payments.

**Illustration of Calculation of Payout Unit Value** 

*Example 8.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Payout Unit value, beginning of period $.980000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Net investment factor for Period (see Example 3) 1.023558

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Daily adjustment for 3 ½% Assumed Investment Rate .999906

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. (2)x(3) 1.023462

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Payout Unit value, end of period (1)x(4) $1.002993

**Illustration of Payout Payments** 

*Example 9. Annuitant age 65, Life Annuity with 120 Payments Certain* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Number of Purchase Units at Payout Date 10,000.00

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Purchase Unit value (see Example 3) $1.800000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Account Value of Contract (1)×(2) $18,000.00

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. First monthly Payout Payment per $1,000 of Account Value $5.63

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. First monthly Payout Payment (3)×(4)÷1,000 $101.34

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Payout Unit value (see Example 8) $.980000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Number of Payout Units (5)÷(6) $103.408

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Assume Payout Unit value for second month equal to $.997000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Second monthly Payout Payment (7)×(8) $103.10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Assume Payout Unit value for third month equal to $.953000

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Third monthly Payout Payment (7)×(10) $98.55

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**Underwriters**

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The Company has qualified or intends to qualify the Contracts for sale in all fifty states and the District of Columbia and will commence offering the Contracts promptly upon qualification in each such jurisdiction.

The Contracts are sold in a continuous offering by licensed insurance agents who are registered representatives of broker-dealers that are members of the Financial Industry Regulatory Authority ("FINRA").

Corebridge Capital Services, Inc. (the "Distributor"), is the distributor for VALIC Separate Account A. The Distributor, an affiliate of the Company due to common ownership, is located at 30 Hudson Street, 16th Floor, Jersey City, NJ 07302. The Distributor is a Delaware corporation and a member of FINRA.

VALIC financial professionals who sell the Contracts will be compensated for such sales by commissions of each first-year Purchase Payment. The financial professional will receive commissions for level Purchase Payments in subsequent years and on increases in the amount of Purchase Payments in the year of increase. During the first two years of employment, financial professionals may also receive developmental commissions for each first-year Purchase Payment and for increases in the amount of Purchase Payments.

Pursuant to its underwriting agreement with the Distributor and VALIC Separate Account A, the Company reimburses the Distributor for reasonable sales expenses, including overhead expenses. The Distributor does not retain or receive commissions for Portfolio Director.

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**Financial Statements**

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PricewaterhouseCoopers LLP, located at 300 Madison Avenue, New York, New York 10017, serves as the independent registered public accounting firm for The Variable Annuity Life Insurance Company Separate Account A and The Variable Annuity Life Insurance Company ("VALIC").

You may obtain a free copy of these financial statements if you write us at our Home Office, located at 2929 Allen Parkway, Houston, Texas, 77019, call us at 1-800-448-2542, or visit www.corebridgefinancial.com/rs/prospectus-and-reports/annuities. The financial statements have also been filed with the SEC and can be obtained through its website at www.sec.gov.

The following financial statements incorporated by reference within the SAI included on the most recent [Form N-VPFS](https://www.sec.gov/Archives/edgar/data/354912/000119312526166544/d51102dnvpfs.htm)filed with the SEC have been so incorporated in reliance on the reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Audited statement of assets and liabilities of The Variable Annuity Life Insurance Company Separate Account A of The Variable Annuity Life Insurance Company as of December 31, 2025, and the related statements of operations and changes in net assets for each of the two years in the period then ended December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Audited Statutory Financial Statements and Supplemental Information of The Variable Annuity Life Insurance Company, which comprise the statutory statements of admitted assets, liabilities and capital and surplus as of December 31, 2025, and December 31, 2024, and the related statutory statements of operations, of changes in capital and surplus, and of cash flows for each of the three years in the period ended December 31, 2025.

The following financial statements incorporated by reference within the SAI included on the most recent[Form N-VPFS](https://www.sec.gov/Archives/edgar/data/354912/000119312526176843/d51102dnvpfs.htm) filed with the SEC have been so incorporated in reliance on the reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Audited Statutory Basis Financial Statements of American Home Assurance Company, which comprise the statutory statements of admitted assets, liabilities and capital and surplus as of December 31, 2025, and December 31, 2024, and the related statutory statements of operations, and of changes in capital and surplus, and of cash flows for each of the three years in the period ended December 31, 2025.

The financial statements of VALIC should be considered only as bearing on the ability of VALIC to meet its obligation under the contracts. You should only consider the statutory financial statements of American Home Assurance Company ("American Home") that we include in the Statement of Additional Information as bearing on the ability of American Home, as guarantor, to meet its obligations under the guarantee of insurance obligations under Policies issued prior to December 29, 2006, at 4:00 p.m.

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Eastern Time ("Point of Termination"). Policies with an issue date after the Point of Termination are not covered by the American Home guarantee.© **2026 Corebridge Financial, Inc.**

All Rights Reserved.

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**Part C — Other InformatiON**

**Item 27.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number**<br>| **Description** | **Location** |
| (a)(1) | &nbsp;&nbsp; [Resolutions adopted by The Variable Annuity](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Life Insurance Company Board of Directors](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [at its Annual Meeting of April 18, 1979,](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [establishing The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Insurance Company Separate Account A.](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (a)(2) | &nbsp;&nbsp; [Restated Resolutions dated September 1,](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex1b.txt)<br> [2002, adopted by unanimous written consent](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex1b.txt)<br> [of Executive Committee of The Variable](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex1b.txt)<br> [Annuity Life Insurance Company Board of](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex1b.txt)<br> [Directors.](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex1b.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (b) | Custodian Agreements. | Not Applicable. |
| (c)(1) | &nbsp;&nbsp; [Distribution Agreement between The](https://www.sec.gov/Archives/edgar/data/354912/000119312519128514/d687289dex993a.txt)<br> [Variable Annuity Life Insurance Company,](https://www.sec.gov/Archives/edgar/data/354912/000119312519128514/d687289dex993a.txt)<br> [The Variable Annuity Life Insurance](https://www.sec.gov/Archives/edgar/data/354912/000119312519128514/d687289dex993a.txt)<br> [Company Separate Account A and AIG](https://www.sec.gov/Archives/edgar/data/354912/000119312519128514/d687289dex993a.txt)<br> [Capital Services, Inc. effective December 31,](https://www.sec.gov/Archives/edgar/data/354912/000119312519128514/d687289dex993a.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[2018.](https://www.sec.gov/Archives/edgar/data/354912/000119312519128514/d687289dex993a.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 26 to Form N-4 Registration Statement (File <br> No. 333-137942/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 30, <br> 2019, Accession No. 0001193125-19-128514.<br>|
| (d)(1) | &nbsp;&nbsp; [Specimen Individual Annuity Contract.](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [(Form UIT-194).](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (d)(2) | &nbsp;&nbsp; [Specimen Group Annuity Contract. (Form](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [UITG-194).](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (d)(3) | &nbsp;&nbsp; [Specimen Individual Non-Qualified Annuity](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Contract. (Form UITN-194).](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (d)(4) | &nbsp;&nbsp; [Specimen Certificate of Participation under](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Group Annuity Contract (Form](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [UITG-194P).](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (d)(5) | &nbsp;&nbsp; [Specimen Individual Retirement Account](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Annuity Contract. (Form UIT-IRA-194).](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (d)(6) | &nbsp;&nbsp; [Specimen Simplified Employee Pension](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Contract (Form UIT-SEP-194).](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (d)(7) | &nbsp;&nbsp; [Specimen Endorsement to Group Annuity](https://www.sec.gov/Archives/edgar/data/354912/0000950129-97-005374.txt)<br> [Contract or Certificate of Participation under](https://www.sec.gov/Archives/edgar/data/354912/0000950129-97-005374.txt)<br> [Group Annuity Contract. (Form](https://www.sec.gov/Archives/edgar/data/354912/0000950129-97-005374.txt)<br> [UITG-194-RSAC), effective upon issuance.](https://www.sec.gov/Archives/edgar/data/354912/0000950129-97-005374.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 11 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 23, 1997, Accession No. 0000950129-97-005374.<br>|
| (d)(8) | &nbsp;&nbsp; [Specimen SIMPLE Individual Retirement](https://www.sec.gov/Archives/edgar/data/354912/0000950129-98-005074.txt)<br> [Annuity Contract (Form UIT-SIMPLE-897).](https://www.sec.gov/Archives/edgar/data/354912/0000950129-98-005074.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 15 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 17, 1998, Accession No. 0000950129-98-005074.<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number**<br>| **Description** | **Location** |
| (d)(9) | &nbsp;&nbsp; [Specimen Portfolio Director Endorsement to](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [Individual Annuity Contract (Form](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [IPD-798).](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 15 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 17, 1998, Accession No. 0000950129-99-001733.<br>|
| (d)(10) | &nbsp;&nbsp; [Specimen Portfolio Director Individual](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [Retirement Annuity (IRA) Endorsement to](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [Individual Retirement Account Annuity](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [Contract (Form IPDIRA-798).](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 15 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 17, 1998, Accession No. 0000950129-99-001733.<br>|
| (d)(11) | &nbsp;&nbsp; [Specimen Portfolio Director Non-Qualified](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [Deferred Annuity (NQDA) Endorsement to](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [Individual Non-Qualified Annuity Contract](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br> [(Form IPDN-798).](https://www.sec.gov/Archives/edgar/data/354912/0000950129-99-001733.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 15 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 17, 1998, Accession No. 0000950129-99-001733.<br>|
| (d)(12) | &nbsp;&nbsp; [Specimen Economic Growth and Tax Relief](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxi.txt)<br> [Reconciliation Act ("EGTRRA") Retirement](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxi.txt)<br> [Plan Annuity Contract Endorsement (Form](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxi.txt)<br> [EGTR-302).](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxi.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (d)(13) | &nbsp;&nbsp; [Specimen EGTRRA Individual Retirement](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxii.txt)<br> [Annuity Endorsement (Form EGTRIRA](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxii.txt)<br> [802).](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (d)(14) | &nbsp;&nbsp; [Specimen EGTRRA Roth Individual](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxiii.txt)<br> [Retirement Annuity Endorsement (Form](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxiii.txt)<br> [ROTHEGTR-802).](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex4bxiii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (d)(15) | &nbsp;&nbsp; [Form of Guaranteed Minimum Withdrawal](https://www.sec.gov/Archives/edgar/data/354912/000168386320006208/f3545d2.htm)<br> [Benefit Endorsement.](https://www.sec.gov/Archives/edgar/data/354912/000168386320006208/f3545d2.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 27 to Form N-4 Registration Statement (File <br> No. 333-137942/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 28, <br> &nbsp;&nbsp;&nbsp;&nbsp;2020.<br>|
| (d)(16) | &nbsp;&nbsp; [Form of Optional Guaranteed Minimum](https://www.sec.gov/Archives/edgar/data/354912/000119312511039089/dex994bvxii.txt)<br> [Withdrawal Benefit Endorsement.](https://www.sec.gov/Archives/edgar/data/354912/000119312511039089/dex994bvxii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 13 to Form N-4 (File No. 333-137942/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on February 17, 2011, Accession <br> No. 0001193125-11-039089.<br>|
| (d)(17) | [Death Benefit Endorsement.](https://www.sec.gov/Archives/edgar/data/354912/000119312511120782/dex994q.txt) | &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 39 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on May 2, <br> 2011, Accession No. 0001193125-11-120782.<br>|
| (d)(18) | &nbsp;&nbsp; [Guaranteed Minimum Withdrawal Benefit](https://www.sec.gov/Archives/edgar/data/354912/000119312516569591/d142003dex994r.txt)<br> [Endorsement (Extension Offer)](https://www.sec.gov/Archives/edgar/data/354912/000119312516569591/d142003dex994r.txt).<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 47 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 29, <br> 2016, Accession No. 0001193125-16-569591.<br>|
| (d)(19) | [Contract Endorsement Form](https://www.sec.gov/Archives/edgar/data/354912/000168386320006208/f3545d3.htm). | &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 27 to Form N-4 Registration Statement (File <br> No. 333-137942/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 28, <br> 2020, Accession No. 0001683863-20-006208.<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number**<br>| **Description** | **Location** |
| (e)(1)(i) | &nbsp;&nbsp; [Specimen Application for Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br> [Director/Portfolio Director 2/Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br> [Director Plus Fixed and Variable Annuity for](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br> [use with all plan types except Individual](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br> [Retirement Annuities (IRA), Simplified](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br> [Employee Pension Plan (SEP), and](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br> [Non-Qualified Deferred Annuities (NQDA).](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5ai.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (e)(1)(ii) | &nbsp;&nbsp; [Specimen Application for Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br> [Director/Portfolio Director 2/Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br> [Director Plus Fixed and Variable Annuity for](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br> [use with Individual Retirement Annuities](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br> [(IRA), Simplified Employee Pension Plans](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br> [(SEP), and Non-Qualified Deferred](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br> [Annuities (NQDA).](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5aii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (e)(2) | [Specimen Group Master Application.](https://www.sec.gov/Archives/edgar/data/354912/000089924303000987/dex5b.txt) | &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 21 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account filed on April 30, <br> 2003, Accession No. 0000899243-03-000987.<br>|
| (e)(3) | &nbsp;&nbsp; [Specimen Application for Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995c.txt)<br> [Director/Portfolio Director 2/Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995c.txt)<br> [Director Plus Fixed and Variable Annuity for](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995c.txt)<br> [use with all plan types except individual](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995c.txt)<br> [non-qualified deferred annuities.](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995c.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 31 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on May 1, <br> 2006, Accession No. 0001193125-06-094684.<br>|
| (e)(4) | &nbsp;&nbsp; [Specimen Application for Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995d.txt)<br> [Director/Portfolio Director 2/Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995d.txt)<br> [Director Plus Fixed and Variable Annuity for](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995d.txt)<br> [use only with after-tax individual](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995d.txt)<br> [non-qualified deferred annuities.](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995d.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 31 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on May 1, <br> 2006, Accession No. 0001193125-06-094684.<br>|
| (e)(5) | &nbsp;&nbsp; [Specimen Application for Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995e.txt)<br> [Director/Portfolio Director 2/Portfolio](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995e.txt)<br> [Director Plus Fixed and Variable Annuity for](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995e.txt)<br> [use with participants in group contracts.](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995e.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 31 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on May 1, <br> 2006, Accession No. 0001193125-06-094684.<br>|
| (e)(6) | [Specimen Group Master Application.](https://www.sec.gov/Archives/edgar/data/354912/000119312506094684/dex995f.txt) | &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 31 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on May 1, <br> 2006, Accession No. 0001193125-06-094684.<br>|
| (f)(1) | &nbsp;&nbsp; [Copy of Amended and Restated Articles of](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Incorporation of The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Insurance Company, effective as of April 28,](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[1989.](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (f)(2) | &nbsp;&nbsp; [Copy of Amendment Number One to](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Amended and Restated Articles of](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Incorporation of The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [Insurance Company (as amended through](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [April 28, 1989) effective March 28, 1990.](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|
| (f)(3) | &nbsp;&nbsp; [Copy of Amended and Restated Bylaws of](https://www.sec.gov/Archives/edgar/data/354912/000119312506206012/dex996c.txt)<br> [The Variable Annuity Life Insurance](https://www.sec.gov/Archives/edgar/data/354912/000119312506206012/dex996c.txt)<br> [Company as amended through August 3,](https://www.sec.gov/Archives/edgar/data/354912/000119312506206012/dex996c.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[2006.](https://www.sec.gov/Archives/edgar/data/354912/000119312506206012/dex996c.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Initial Form N-4 (File <br> No. 333-137942/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> October 11, 2006, Accession No. 0001193125-06-206012.<br>|
| (g) | Reinsurance Contracts. | Not Applicable. |
| (h)(1)(i) | &nbsp;&nbsp; [Participation Agreement between The](https://www.sec.gov/Archives/edgar/data/354912/0000950129-96-001391.txt)<br> [Variable Annuity Life Insurance Company](https://www.sec.gov/Archives/edgar/data/354912/0000950129-96-001391.txt)<br> [and Vanguard Group, Inc.](https://www.sec.gov/Archives/edgar/data/354912/0000950129-96-001391.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 8 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on June 28, <br> 1996, Accession No. 0000950129-96-001391.<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number**<br>| **Description** | **Location** |
| (h)(1)(ii) | &nbsp;&nbsp; [Amendment No. 1 to Participation](https://www.sec.gov/Archives/edgar/data/354912/0000950129-98-003727.txt)<br> [Agreement between The Variable Annuity](https://www.sec.gov/Archives/edgar/data/354912/0000950129-98-003727.txt)<br> [Life Insurance Company and The Vanguard](https://www.sec.gov/Archives/edgar/data/354912/0000950129-98-003727.txt)<br> [Group, Inc., effective July 17, 1998.](https://www.sec.gov/Archives/edgar/data/354912/0000950129-98-003727.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 14 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> September 1, 1998, Accession No. 0000950129-98-003727.<br>|
| (h)(2)(i) | &nbsp;&nbsp; [Form of Participation Agreement between](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_i.txt)<br> [The Variable Annuity Life Insurance](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_i.txt)<br> [Company, Ariel Investment Trust and Ariel](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_i.txt)<br> [Distributors, Inc. dated November 7, 2000.](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_i.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 18 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> November 3, 2000, Accession No. 0000950129-00-005232.<br>|
| (h)(2)(ii) | &nbsp;&nbsp; [Amendment to Participation Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [between The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Insurance Company, Ariel Investment Trust](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [and Ariel Distributors, LLC. dated](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [January 1, 2021.](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 53 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 28, <br> 2022, Accession No.0001193125-22-126224.<br>|
| (h)(2)(iii) | &nbsp;&nbsp; [Form of Administrative Services Agreement](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_ii.txt)<br> [between The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_ii.txt)<br> [Insurance Company and Ariel Distributors,](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_ii.txt)<br> [Inc.](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8l_ii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 18 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> November 3, 2000, Accession No. 0000950129-00-005232.<br>|
| (h)(3)(i) | &nbsp;&nbsp; [Form of Participation Agreement among The](https://www.sec.gov/Archives/edgar/data/354912/000119312510102286/dex998ci.txt)<br> [Variable Annuity Life Insurance Company,](https://www.sec.gov/Archives/edgar/data/354912/000119312510102286/dex998ci.txt)<br> [Forum Funds and Holland Capital](https://www.sec.gov/Archives/edgar/data/354912/000119312510102286/dex998ci.txt)<br> [Management LLC dated as of January 28,](https://www.sec.gov/Archives/edgar/data/354912/000119312510102286/dex998ci.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[2010.](https://www.sec.gov/Archives/edgar/data/354912/000119312510102286/dex998ci.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 38 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 30, <br> 2010, Accession No. 0001193125-10-102286.<br>|
| (h)(3)(ii) | &nbsp;&nbsp; [Form of Administrative Services Agreement](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8p_ii.txt)<br> [between The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8p_ii.txt)<br> [Insurance Company and Holland Capital](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8p_ii.txt)<br> [Management, L.P. dated November 1, 2000.](https://www.sec.gov/Archives/edgar/data/354912/000095012900005232/h81140ex99-8p_ii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 18 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> November 3, 2000, Accession No. 0000950129-00-005232.<br>|
| (h)(4)(i) | &nbsp;&nbsp; [Form of Participation Agreement among](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998ciii.txt)<br> [Invesco Distributors, Inc. and The Variable](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998ciii.txt)<br> [Annuity Life Insurance Company dated as of](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998ciii.txt)<br> [November 1, 2011.](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998ciii.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 40 to Form N-4 (File No. 033-75292/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on November 1, 2011, Accession <br> No. 0001193125-11-290536.<br>|
| (h)(4)(ii) | &nbsp;&nbsp; [Amendment to Participation Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [among Invesco Distributors, Inc. and The](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Variable Annuity Life Insurance Company](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [dated as of January 1, 2021.](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 53 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 28, <br> 2022, Accession No. 0001193125-22-126224.<br>|
| (h)(4)(iii) | &nbsp;&nbsp; [Form of Administrative Services Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998civ.txt)<br> [between Invesco Distributors, Inc., Invesco](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998civ.txt)<br> [Investment Services, Inc., The Variable](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998civ.txt)<br> [Annuity Life Insurance Company and](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998civ.txt)<br> [American General Distributors, Inc. dated as](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998civ.txt)<br> [of November 1, 2011.](https://www.sec.gov/Archives/edgar/data/354912/000119312511290536/d245657dex998civ.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 40 to Form N-4 (File No. 033-75292/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on November 1, 2011, Accession <br> No. 0001193125-11-290536.<br>|
| (h)(5)(i) | &nbsp;&nbsp; [Participation Agreement among American](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> [Beacon Funds, American Beacon Advisors,](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> [Inc. and The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> [Insurance Company dated as of March 23,](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[2012.](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 41 to Form N-4 (File No. 033-75292/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on April 30, 2012, Accession <br> No. 0001193125-12-194972.<br>|
| (h)(5)(ii) | &nbsp;&nbsp; [Amendment to Participation Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eib.txt)<br> [among American Beacon Funds, American](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eib.txt)<br> [Beacon Advisors, Inc. and The Variable](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eib.txt)<br> [Annuity Life Insurance Company, effective](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eib.txt)<br> [December 15, 2017.](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eib.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 25 to Form N-4 Registration Statement (File <br> No. 333-137942/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 30, <br> 2018, Accession No. 0001193125-18-143409.<br>|
| (h)(5)(iii) | &nbsp;&nbsp; [Amendment to Participation Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [among American Beacon Funds, American](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Beacon Advisors, Inc. and The Variable](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Annuity Life Insurance Company dated as of](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [January 1, 2021.](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 53 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 28, <br> 2022, Accession No. 0001193125-22-126224.<br>|

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| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number**<br>| **Description** | **Location** |
| (h)(5)(iv) | &nbsp;&nbsp; [Administrative Services Agreement among](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> [American Beacon Funds, American Beacon](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> [Advisors, Inc. and The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> [Insurance Company dated as of March 23,](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[2012.](https://www.sec.gov/Archives/edgar/data/354912/000119312512194972/d303804dex998cvi.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 41 to Form N-4 (File No. 033-75292/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on April 30, 2012, Accession <br> No. 0001193125-12-194972.<br>|
| (h)(5)(v) | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;[(B) Amendment to Administrative Services](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eiib.txt)<br> [Agreement among American Beacon Funds,](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eiib.txt)<br> [American Beacon Advisors, Inc. and The](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eiib.txt)<br> [Variable Annuity Life Insurance Company,](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eiib.txt)<br> [effective December 15, 2017.](https://www.sec.gov/Archives/edgar/data/354912/000119312518143409/d532004dex998eiib.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 25 to Form N-4 Registration Statement (File <br> No. 333-137942/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 30, <br> 2018, Accession No. 0001193125-18-143409.<br>|
| (h)(6)(i) | &nbsp;&nbsp; [Participation Agreement between The](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998h.txt)<br> [Variable Annuity Life Insurance Company](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998h.txt)<br> [and T. Rowe Price Retirement Funds, Inc.](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998h.txt)<br> [and T. Rowe Price Associates, Inc.](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998h.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 45 to Form N-4 (File No. 033-75292/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on December 23, 2014, Accession <br> No. 0001193125-14-452203.<br>|
| (h)(6)(ii) | &nbsp;&nbsp; [Amendment to Participation Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [between The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Insurance Company and T. Rowe Price](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Investment Services, Inc., T. Rowe Price](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Services, Inc. and T. Rowe Price Associates,](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Inc. dated as of January 1, 2021.](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 53 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 28, <br> 2022, Accession No. 0001193125-22-126224.<br>|
| (h)(6)(iii) | &nbsp;&nbsp; [Administrative Services Agreement between](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998g.txt)<br> [The Variable Annuity Life Insurance](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998g.txt)<br> [Company and T. Rowe Price Retirement](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998g.txt)<br> [Funds, Inc. and T. Rowe Price Associates,](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998g.txt)<br> [Inc.](https://www.sec.gov/Archives/edgar/data/354912/000119312514452203/d838537dex998g.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 45 to Form N-4 (File No. 033-75292/811-03240) of <br> The Variable Annuity Life Insurance Company Separate <br> Account A filed on December 23, 2014, Accession <br> No. 0001193125-14-452203.<br>|
| (h)(7)(i) | &nbsp;&nbsp; [Participation Agreement between Goldman](https://www.sec.gov/Archives/edgar/data/354912/000119312516794260/d254047dex8l.txt)<br> [Sachs Variable Insurance Trust, Goldman,](https://www.sec.gov/Archives/edgar/data/354912/000119312516794260/d254047dex8l.txt)<br> [Sachs & Co. and The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000119312516794260/d254047dex8l.txt)<br> [Insurance Company dated as of April 29,](https://www.sec.gov/Archives/edgar/data/354912/000119312516794260/d254047dex8l.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[2016.](https://www.sec.gov/Archives/edgar/data/354912/000119312516794260/d254047dex8l.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 6 to Form N-4 Registration Statement (File <br> No. 333-201800/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 15, 2016, Accession No. 0001193125-16-794260.<br>|
| (h)(7)(ii) | &nbsp;&nbsp; [Amendment to Participation Agreement](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [between Goldman Sachs Variable Insurance](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Trust, Goldman, Sachs & Co. and The](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [Variable Annuity Life Insurance Company](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br> [effective as of April 29, 2022.](https://www.sec.gov/Archives/edgar/data/354912/000119312522126224/0001193125-22-126224-index.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 53 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 28, <br> 2022, Accession No. 0001193125-22-126224.<br>|
| (h)(7)(iii) | &nbsp;&nbsp; [Administrative Services Agreement between](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iii.htm)<br> [Goldman Sachs Asset Management, L.P. and](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iii.htm)<br> [The Variable Annuity Life Insurance](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iii.htm)<br> [Company dated as of April 29, 2016.](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iii.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 54 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 27, <br> 2023, Accession No. 0001193125-23-122105.<br>|
| (h)(7)(iv) | &nbsp;&nbsp; [Amendment to Administrative Services](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iv.htm)<br> [Agreement between Goldman Sachs Asset](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iv.htm)<br> [Management, L.P. and The Variable Annuity](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iv.htm)<br> [Life Insurance Company effective as of](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iv.htm)<br> [May 2, 2022.](https://www.sec.gov/Archives/edgar/data/354912/000119312523122105/d472929dex99h7iv.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 54 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on April 27, <br> 2023, Accession No. 0001193125-23-122105.<br>|
| (h)(8) | &nbsp;&nbsp; [Participation Agreement among VALIC](https://www.sec.gov/Archives/edgar/data/354912/000119312517378295/d463773dex998a.htm)<br> [Company I, American General Distributors,](https://www.sec.gov/Archives/edgar/data/354912/000119312517378295/d463773dex998a.htm)<br> [Inc. and The Variable Annuity Life](https://www.sec.gov/Archives/edgar/data/354912/000119312517378295/d463773dex998a.htm)<br> [Insurance Company](https://www.sec.gov/Archives/edgar/data/354912/000119312517378295/d463773dex998a.htm).<br>| &nbsp;&nbsp; Incorporated by reference to Pre-Effective Amendment <br> No. 1 to Form N-4 Registration Statement (File Nos <br> 333-220957/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A, filed on <br> December 26, 2017, Accession No. 0001193125-17-378295.<br>|
| (i) | Administrative Contracts. | Not Applicable. |
| (j)(1)(i) | &nbsp;&nbsp; [General Guarantee Agreement between The](https://www.sec.gov/Archives/edgar/data/354912/000035491205000047/pd81205.htm)<br> [Variable Annuity Life Insurance Company](https://www.sec.gov/Archives/edgar/data/354912/000035491205000047/pd81205.htm)<br> [and American Home Assurance Company.](https://www.sec.gov/Archives/edgar/data/354912/000035491205000047/pd81205.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 26 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on August 12, <br> 2005, Accession No. 0000354912-05-000047.<br>|

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| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number**<br>| **Description** | **Location** |
| (j)(1)(ii) | &nbsp;&nbsp; [Notice of Termination of General Guarantee](https://www.sec.gov/Archives/edgar/data/354912/000035491206000040/exh8p.htm)<br> [Agreement as published in the Wall Street](https://www.sec.gov/Archives/edgar/data/354912/000035491206000040/exh8p.htm)<br> [Journal on November 24, 2006.](https://www.sec.gov/Archives/edgar/data/354912/000035491206000040/exh8p.htm)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 32 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 11, 2006, Accession No. 0000354912-06-000040.<br>|
| (k)(1) | &nbsp;&nbsp; [Opinion of Counsel and Consent of](https://www.sec.gov/Archives/edgar/data/354912/000119312505205525/dex999a.txt)<br> [Depositor.](https://www.sec.gov/Archives/edgar/data/354912/000119312505205525/dex999a.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 28 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> October 21, 2005, Accession No. 0001193125-05-205525.<br>|
| (k)(2) | &nbsp;&nbsp; [Opinion of Counsel and Consent of](https://www.sec.gov/Archives/edgar/data/354912/000119312505205525/dex999b.txt)<br> [Sullivan & Cromwell LLP, Counsel to](https://www.sec.gov/Archives/edgar/data/354912/000119312505205525/dex999b.txt)<br> [American Home Assurance Company.](https://www.sec.gov/Archives/edgar/data/354912/000119312505205525/dex999b.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 28 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> October 21, 2005, Accession No. 0001193125-05-205525.<br>|
| (l) | &nbsp;&nbsp; [Consents of Independent Registered Public](d59696dex99l.htm)<br> [Accounting Firm – PricewaterhouseCoopers](d59696dex99l.htm)<br> [LLP.](d59696dex99l.htm)<br>| Filed herewith. |
| (m) | Omitted Financial Statements. | None. |
| (n) | Initial Capital Agreements. | Not Applicable. |
| (o) | Form of Initial Summary Prospectus. | Not Applicable. |
| (p) | &nbsp;&nbsp; [Calculation of standard and nonstandard](https://www.sec.gov/Archives/edgar/data/354912/0000950129-97-005374.txt)<br> [performance information.](https://www.sec.gov/Archives/edgar/data/354912/0000950129-97-005374.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 11 to Form N-4 Registration Statement (File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on <br> December 23, 1997, Accession No. 0000950129-97-005374.<br>|
| (q)(1) | &nbsp;&nbsp; [Power of Attorney – The Variable Annuity](d59696dex99q1.htm)<br> [Life Insurance Company](d59696dex99q1.htm).<br>| Filed herewith. |
| (q)(2) | &nbsp;&nbsp; [Power of Attorney – American Home](d59696dex99q2.htm)<br> [Assurance Company.](d59696dex99q2.htm)<br>| Filed herewith. |
| (r) | &nbsp;&nbsp; [Confidential Personal Data Form which](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [discloses Section 403(b)(11) withdrawal](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [restrictions as set forth in a no-action letter](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [issued by the SEC on November 28, 1988,](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [and which requires the signed](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [acknowledgement of participants who](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [purchase Section 403(b) annuities with](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br> [regard to these withdrawal restrictions.](https://www.sec.gov/Archives/edgar/data/354912/000095012996000265/0000950129-96-000265.txt)<br>| &nbsp;&nbsp; Incorporated by reference to Post-Effective Amendment <br> No. 5 to Form N-4 Registration Statement, File <br> No. 033-75292/811-03240) of The Variable Annuity Life <br> Insurance Company Separate Account A filed on March 1, <br> 1996, Accession No. 0000950129-96-000265.<br>|

---

**Item 28. *Directors and Officers of the Insurance Company*** 

The directors and principal officers of the Company are set forth below. The business address of each officer and director is 2929 Allen Parkway, Houston, TX 77019, unless otherwise noted.

---

| | |
|:---|:---|
| **Names, Positions and Offices Held with Depositor** | **Names, Positions and Offices Held with Depositor** |
| Christopher B. Smith (8) | Director, Chairman of the Board and President |
| Christopher P. Filiaggi (8) | Director, Senior Vice President and Chief Financial Officer |
| Terri. N. Fiedler (3) | Director, President, Group Retirement |
| Jonathan J. Novak (1) | Director, President, Institutional Markets |
| David Ditillo (6) | Director, Executive Vice President and Chief Information Officer |
| Lisa M. Longino (8) | Director, Executive Vice President and Chief Investment Officer |
| Emily W. Gingrich | Director, Senior Vice President, Chief Actuary and Corporate <br> Illustration Actuary<br>|
| Bryan Pinksy (2) | Director |
| Eric G. Tarnow | Director |
| John P. Byrne III (3) | President, Financial Distributor |
| Elizabeth B. Cropper (8) | Executive Vice President and Chief Human Resources Officer |
| Steven D. ("Doug") Caldwell, Jr. (5) | Executive Vice President and Chief Risk Officer |

---

------

---

| | |
|:---|:---|
| **Names, Positions and Offices Held with Depositor** | **Names, Positions and Offices Held with Depositor** |
| Jeffery A. Ferguson (3) | Senior Vice President and Chief Transformation Officer |
| Mallary L. Reznik | Senior Vice President, General Counsel and Assistant Secretary |
| Jeannette N. Pina (8) | Senior Vice President, Corporate Secretary |
| Christina M. Haley (2) | Senior Vice President, Product Filing |
| Patricia M. Schwartz (2) | Senior Vice President, Head of Valuation and Financial Reporting, <br> and Appointed Actuary<br>|
| Christopher V. Muchmore (2) | Senior Vice President, Chief Financial Officer, Individual Retirement |
| Sai P. Raman (7) | Senior Vice President, Institutional Markets |
| Jonathan A. Gold (8) | Senior Vice President and Deputy Investment Officer |
| Brigitte K. Lenz | Vice President and Controller |
| Jennifer P. Powell (3) | Vice President and Chief Compliance Officer, and 38a-1 Compliance <br> Officer<br>|
| Melissa K. Robbins (9) | Vice President and Chief Compliance Officer- Investment Advisory |
| Brian O. Moon (8) | Vice President and Treasurer |
| Mersini G. Keller | Vice President and Tax Officer |
| Angel R. Ramos (3) | Vice President and Tax Officer |
| Preston L. Schnoor (2) | Vice President, Product Filing |
| Aimy T. Tran (2) | Vice President, Product Filing |
| Barbara L. Rayll (3) | Vice President, Business Case Development |
| Korey L. Dalton | Vice President |
| Christopher J. Hobson (2) | Vice President |
| Jennifer N. Miller | Vice President |
| Marjorie D. Brothers (3) | Assistant Secretary |
| Alison Chen (2) | Assistant Secretary |
| William Langston (8) | Assistant Secretary |
| Angela G. Bates (5) | Anti-Money Laundering and Economic Sanctions Compliance Officer |
| Michael F. Mulligan (1) | Head of International Pension Risk Transfer |
| Ethan D. Bronsnick (8) | Head of U.S. Pension Risk Transfer |
| Aileen V. Apuy | Manager, State Filings |
| Connie C. Merer (2) | Assistant Manager, State Filings |
| Melissa H. Cozart (3) | Privacy Officer |
| Thomas Bartolomeo (6) | Chief Information Security Officer |
| Jordan Schroeder (3) | Custodial Manager |

---

------

(1) 10880 Wilshire Boulevard, Suite 1101, Los Angeles, CA 90024

(2) 21650 Oxnard Street, Suite 750, Woodland Hills, CA 91367

(3) 2919 Allen Parkway, Woodson Tower, Houston, TX 77019

(4) 2727-A Allen Parkway, 3-D1, Houston, TX 77019

(5) 28 Liberty Street, Floor 45th, New York, NY 10005

(6) 3211 Shannon Road, Durham, NC 27707

(7) 50 Danbury Road, Wilton, CT 06897

(8) 30 Hudson Street, Jersey City, NJ 07302

(9) 503 Road, Wilmington, DE 19809

**Item 29.** *Persons Controlled by or Under Common Control with the Insurance Company or the Registered Separate Account* 

The Registered Separate Account is a separate account of The Variable Annuity Life Insurance Company ("Insurance Company"). The Insurance Company is an indirect, wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge").An organizational chart for Corebridge can be found as [Exhibit 21 in Corebridge Form 10-K, SEC File No. 001-41504, Accession](https://www.sec.gov/Archives/edgar/data/1889539/000188953926000022/0001889539-26-000022-index.htm)[No. 0001889539-26-000022, filed on February 11, 2026](https://www.sec.gov/Archives/edgar/data/1889539/000188953926000022/0001889539-26-000022-index.htm). Exhibit 21 is incorporated herein by reference.

**Item 30. *Indemnification*** 

Insofar as indemnification for liability arising under the Securities Act of 1933 ("Act") may be permitted to directors, officers and controlling persons of the Registered Separate Account pursuant to the foregoing provisions, or otherwise, the Registered

------

Separate Account has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registered Separate Account of expenses incurred or paid by a director, officer or controlling person of the Registered Separate Account in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registered Separate Account will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**The Variable Annuity Life Insurance Company** 

To the full extent authorized by law, The Variable Annuity Life Insurance Company shall indemnify any person made, or threatened to be made, a party to an action or proceeding, whether criminal or civil, by reason of the fact that he, his testator or intestate is or was a director or officer of the corporation or serves or served in any capacity in any other corporation at the request of The Variable Annuity Life Insurance Company. Nothing contained herein shall affect any rights to indemnification to which corporate personnel other than directors and officers may be entitled by contract or otherwise under law.

**Item 31. *Principal Underwriter*** 

(a) Corebridge Capital Services, Inc. acts as distributor for the following investment companies:

**American General Life Insurance Company** 

Variable Separate Account

Variable Annuity Account Five

Variable Annuity Account Seven

Variable Annuity Account Nine

Variable Annuity Account Ten

AG Separate Account D

AGL Separate Account I of AGL

AGL Separate Account VL-R

**The United States Life Insurance Company in the City of New York** 

FS Variable Separate Account

FS Variable Annuity Account Five

USL Separate Account USL VL-R

USL Separate Account USL A

USL Separate Account RS

**The Variable Annuity Life Insurance Company** 

Variable Annuity Life Insurance Co Separate Account A

------

**VALIC Company 1** 

(b) Directors, Officers and principal place of business:

---

| | |
|:---|:---|
| **Officer/Directors\*** | **Position** |
| Christina M. Nasta | Director, Chairman of the Board, President and Executive Chief <br> Officer<br>|
| John P. Byrne III (1) | Director |
| Nicholas G. Intrieri | Director |
| Ryan Tapak | Director |
| Eric Taylor | Director |
| Cynthia L. Burnette (1) | Vice President, Chief Financial Officer, Chief Operations |
| Michael Fortey (1) | Chief Compliance Officer |
| Jeannette N. Pina | Senior Vice President and Corporate Secretary |
| Mersini G. Keller | Vice President, Tax Officer |
| Anish Cheeran (1) | Vice President, Tax Officer |
| Angel Ramos (1) | Vice President, Tax Officer |
| Katarzyna Halasiewicz (1) | Vice President, Tax Officer |
| Mallary L. Reznik (2) | Vice President |
| Marjorie Brothers (1) | Assistant Secretary |
| Alison Chen (2) | Assistant Secretary |
| William Langston | Assistant Secretary |

---

\* Unless otherwise indicated, the principal business address of Corebridge Capital Services, Inc. and of each of the above individuals is 30 Hudson Street, 16th Floor, Jersey City, NJ 07302.

Principal business address 2919 Allen Parkway, Houston, TX 77019

Principal business address 21650 Oxnard Street, Suite 750, Woodland Hills, CA 91367-4997

(c) Corebridge Capital Services, Inc. retains no compensation or commissions from the Registered Separate Account.

**Item 32. *Location of Accounts and Records*** 

All records referenced under Section 31(a) of the Investment Company Act of 1940, and Rules 31a-1 through 31a-3 thereunder, are maintained and in the custody of The Variable Annuity Life Insurance Company located at 2727-A Allen Parkway, Houston, TX 77019.

**Item 33. *Management Services*** 

Not Applicable.

**Item 34. Fee Representation and Other Representations** 

**Fee Representation** 

Insurance Company represents that the fees and charges to be deducted under the Contracts described in the prospectus contained in this Registration Statement, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Insurance Company in accordance with Section 26(f)(2)(A) of the Investment Company Act of 1940.

**Other Representations** 

The Registered Separate Account hereby represents that it is relying on the No-Action Letter issued by the Division of Investment Management to the American Council of Life Insurance dated November 28, 1988 (Commission Ref. No. IP-6-88). Registered Separate Account has complied with conditions one through four on the No-Action Letter.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, The Variable Annuity Life Insurance Company Separate Account A, certifies that it meets all of the requirements for effectiveness of this Registration Statement under rule 485(b) under the Securities Act and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of New York, and State of New York, on this 27<sup>th</sup>day of April, 2026.

**THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A** 

(Registered Separate Account)

BY: THE VARIABLE ANNUITY LIFE INSURANCE COMPANY <br>(On behalf of the Registered Separate Account and itself)

BY:

\*CHRISTOPHER P. FILIAGGI <br>

------

CHRISTOPHER P. FILIAGGI <br>DIRECTOR, SENIOR VICE PRESIDENT, AND CHIEF FINANCIAL OFFICER

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| \*CHRISTOPHER B. SMITH<br>CHRISTOPHER B. SMITH<br>| &nbsp;&nbsp;&nbsp;&nbsp; Director, Chairman of the Board, and President (Principal <br> Executive Officer)<br>| April 27, 2026 |
| \*CHRISTOPHER P. FILIAGGI<br>CHRISTOPHER P. FILIAGGI<br>| &nbsp;&nbsp;&nbsp;&nbsp; Director, Senior Vice President, and Chief Financial <br> Officer (Principal Accounting Officer)(Principal Financial <br> Officer)<br>| April 27, 2026 |
| \*TERRI N. FIEDLER<br>TERRI N. FIEDLER<br>| Director | April 27, 2026 |
| \*EMILY W. GINGRICH<br>EMILY W. GINGRICH<br>| Director | April 27, 2026 |
| \*LISA M. LONGINO<br>LISA M. LONGINO<br>| Director | April 27, 2026 |
| \*JONATHAN J. NOVAK<br>JONATHAN J. NOVAK<br>| Director | April 27, 2026 |
| \*BRYAN A. PINSKY<br>BRYAN A. PINSKY<br>| Director | April 27, 2026 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*BY:/s/ JOHNPAUL S. VAN MAELE<br>JOHNPAUL S. VAN MAELE<br> Attorney-in-Fact pursuant to Powers <br> of Attorney filed previously and/or <br> herewith.<br>| April 27, 2026 |

---

------

**SIGNATURES** 

American Home Assurance Company has caused this amended Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Wilton, and State of Connecticut on the 27<sup>th</sup> day of April, 2026.

AMERICAN HOME ASSURANCE COMPANY

BY:

\*BRIAN RUCKER <br>

------

BRIAN RUCKER <br>SENIOR VICE PRESIDENT AND STATUTORY <br> CONTROLLER

This amended Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| \*DONALD BAILEY<br>DONALD BAILEY<br>| &nbsp;&nbsp;&nbsp;&nbsp; Director, President, Chief Executive Officer, and Chairman <br> of the Board of Directors<br> (Principal Executive Officer)<br>| April 27, 2026 |
| \*SHELLEY SINGH<br>SHELLEY SINGH<br>| &nbsp;&nbsp;&nbsp;&nbsp; Director, Chief Financial Officer and Senior Vice President<br> (Principal Financial Officer)<br>| April 27, 2026 |
| \*MOHAMMAD ABU TURAB HUSSAIN<br>MOHAMMAD ABU TURAB HUSSAIN<br>| Director | April 27, 2026 |
| \*JOHN F. KLAUS<br>JOHN F. KLAUS<br>| Director | April 27, 2026 |
| \*BARBARA LUCK<br>BARBARA LUCK<br>| Director | April 27, 2026 |
| \*SABRA PURTILL<br>SABRA PURTILL<br>| Director | April 27, 2026 |
| \*CHRISTOPHER SCHAPER<br>CHRISTOPHER SCHAPER<br>| Director | April 27, 2026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*BY:/s/ BRIAN RUCKER<br>BRIAN RUCKER<br> ATTORNEY-IN-FACT<br> (Exhibit to the Registration <br> Statement)<br>|  | April 27, 2026 |

---

------

## Ex-99.(L)

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Post-Effective Amendment No. 57 to the Registration Statement on Form N-4 (No. 033-75292) (the "Registration Statement") of our report**** dated April 17, 2026 relating to the statutory basis financial statements of The Variable Annuity Life Insurance Company and consent to the incorporation by reference in the Registration Statement of our report dated April 20, 2026 relating to the financial statements of each of the subaccounts of The Variable Annuity Life Insurance Company Separate Account A indicated in our report. We also consent to the references to us under the headings "Financial Statements" in such Registration Statement.

/s/ PricewaterhouseCoopers LLP

New York, New York

April 28, 2026

------

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Post-Effective Amendment No. 57 to the Registration Statement on Form N-4 (No. 033-75292) (the "Registration Statement") of our report**** dated April 22, 2026 relating to the statutory basis financial statements of the American Home Assurance Company. We also consent to the reference to us under the heading "Financial Statements" in such Registration Statement.

/s/ PricewaterhouseCoopers LLP

New York, New York

April 28, 2026

## Ex-99.(Q)(1)

**POWERS OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints MALLARY REZNIK, TRINA SANDOVAL, and JOHNPAUL S. VAN MAELE, or each of them, as their true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for them and in their name, place and stead, in all capacities, to sign any and all Registration Statements and amendments (including pre-and post-effective amendments) to the Registration Statements listed below, for which THE VARIABLE ANNUITY LIFE INSURANCE COMPANY serves as Depositor or is Registrant, and to file the same, with all exhibits thereto, and other documents in connection therewith, as fully to all intents as they might or could do in person, including specifically, but without limiting the generality of the foregoing, to (i) take any action to comply with any rules, regulations or requirements of the Securities and Exchange Commission under the federal securities laws; (ii) make application for and secure any exemptions from the federal securities laws; (iii) register additional annuity contracts under the federal securities laws, if registration is deemed necessary. The undersigned hereby ratifies and confirms all that said attorneys-in-fact and agents, or any of them, or their substitutes, shall do or cause to be done by virtue thereof.

**REGISTRATION STATEMENTS:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Registrant Name** | **File Nos.** | **File Nos.** | **File Nos.** | **File Nos.** |
| &nbsp;&nbsp;&nbsp;The Variable Annuity Life Insurance Company Separate Account A | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;The Variable Annuity Life Insurance Company Separate Account A | 333-170476<br> 002-32783<br> 333-49232 | 002-96223<br> 333-124398<br> 333-202700 | 333-137942<br> 033-75292<br> 333-201800 | 333-201803<br> 333-220957 |
| &nbsp;&nbsp;&nbsp;The Variable Annuity Life Insurance Company Separate Account A | **Under the Investment Company Act of 1940:**<br> 811-03240 | **Under the Investment Company Act of 1940:**<br> 811-03240 | **Under the Investment Company Act of 1940:**<br> 811-03240 | **Under the Investment Company Act of 1940:**<br> 811-03240 |

---

------

**POWERS OF ATTORNEY** 

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ CHRISTOPHER B. SMITH<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHRISTOPHER B. SMITH | Director, Chairman of the Board, and President<br> (Principal Executive Officer) | September 18, 2024 |
| /s/ CHRISTOPHER P. FILIAGGI<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHRISTOPHER P. FILIAGGI | Director, Senior Vice President, and<br> Chief Financial Officer<br> (Principal Financial Officer)<br> (Principal Accounting Officer) | September 19, 2024 |
| /s/ TERRI N. FIEDLER<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TERRI N. FIEDLER | Director | September 18, 2024 |
| /s/ EMILY W. GINGRICH<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMILY W. GINGRICH | Director | April 01, 2025 |
| /s/ LISA M. LONGINO<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LISA M. LONGINO | Director | September 18, 2024 |
| /s/ JONATHAN J. NOVAK<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JONATHAN J. NOVAK | Director | September 19, 2024 |
| /s/ BRYAN A. PINSKY<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BRYAN A. PINSKY | Director | September 18, 2024 |
| /s/ ERIC G. TARNOW<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ERIC G. TARNOW | Director | January 20, 2026 |

---

## Ex-99.(Q)(2)

**POWERS OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officers and directors of **AMERICAN HOME ASSURANCE COMPANY**, hereby constitute and appoint **BRIAN RUCKER** as their true and lawful attorney-in fact and agent, with full power of substitution and resubstitution, for them and in their name, place and stead, in any and all capacities, to sign on behalf of **AMERICAN HOME ASSURANCE COMPANY** any and all amendments to the Registration Statements listed on the attached schedule by AMERICAN GENERAL LIFE INSURANCE COMPANY, THE VARIABLE ANNUITY LIFE INSURANCE COMPANY and THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK serving as Depositors, for which **AMERICAN HOME ASSURANCE COMPANY** serves as Guarantor, and to file the same, with all exhibits thereto, and other documents in connection therewith, as fully to all intents as he might or could do in person, including specifically, but without limiting the generality of the foregoing, to (i) take any action to comply with any rules, regulations or requirements of the Securities and Exchange Commission under the federal securities laws; (ii) make application for and secure any exemptions from the federal securities laws; (iii) register additional insurance and annuity contracts under the federal securities laws, if registration is deemed necessary. The undersigned hereby ratifies and confirms all that said attorney-in-fact and agent, or his substitute, shall do or cause to be done by virtue hereof.

**AMERICAN HOME ASSURANCE COMPANY** 

**GUARANTOR PRODUCT SCHEDULE –04/22/2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Registrant Name** | **File Nos.** | **File Nos.** |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185797 | American Pathway II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185798 | Polaris |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185799 | Polaris II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185831 | PolarisAmerica |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185838 | Polaris Platinum II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185800 | Polaris II Platinum Series |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185837 | Polaris Choice II / Polaris Choice III |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185818 | WM Diversified Strategies |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185820 | WM Diversified Strategies III |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185815 | Polaris Advisor |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185801 | Polaris Protector |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185816 | Polaris Preferred Solution |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-234470 | ICAP II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-234471 | Vista Capital Advantage |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-234472 | Anchor Advisor |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | 333-185797 | American Pathway II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE SEPARATE ACCOUNT | **Under the Investment Company Act of 1940:** <br> 811-03859 | **Under the Investment Company Act of 1940:** <br> 811-03859 |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185829 | Seasons |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185804 | Seasons Select II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185825 | Seasons Select |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185826 | Seasons Triple Elite / Seasons Elite |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185822 | Seasons Advisor |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185824 | Seasons Advisor II |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | 333-185828 | Seasons Preferred Solution |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT FIVE | **Under the Investment Company Act of 1940:**<br> 811-07727 | **Under the Investment Company Act of 1940:**<br> 811-07727 |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT SEVEN | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT SEVEN | 333-185806 | Polaris Plus |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT SEVEN | 333-185807 | Polaris II A-Class / Polaris II A-Class<br> Platinum Series |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT SEVEN | 333-185832 | Polaris II Asset Manager |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT SEVEN | **Under the Investment Company Act of 1940:**<br> 811-09003 | **Under the Investment Company Act of 1940:**<br> 811-09003 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Registrant Name** | **File Nos.** | **File Nos.** |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | **Uer the Securities Act of 1933:** | **Uer the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | 333-185834 | Ovation |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | 333-185835 | Ovation Plus |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | 333-185841 | Ovation Advantage |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | 333-185842 | Ovation Advisor |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | 333-185834 | Ovation |
| &nbsp;&nbsp;&nbsp;AGL VARIABLE ANNUITY ACCOUNT NINE | **Under the Investment Company Act of 1940:**<br> 811-21096 | **Under the Investment Company Act of 1940:**<br> 811-21096 |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-178854 | Polaris NY/ Polaris II NY / Polaris II NY – Jones |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-178859 | WM Diversified Strategies III NY |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-178857 | FSA Advisor |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-178853 | Polaris Choice NY / Polaris Choice III NY |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-178855 | Polaris II A-Class Platinum Series NY |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-178850 | Polaris Advantage NY |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-234490 | ICAP II NY |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | 333-234491 | Vista Capital Advantage NY |
| &nbsp;&nbsp;&nbsp;USL - FS VARIABLE SEPARATE ACCOUNT | **Under the Investment Company Act of 1940:**<br> 811-08810 | **Under the Investment Company Act of 1940:**<br> 811-08810 |
| &nbsp;&nbsp;&nbsp;USL - ARIABLE ANNUITY ACCOUNT FIVE | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;USL - ARIABLE ANNUITY ACCOUNT FIVE | 333-178860 | Seasons Triple Elite NY/ Seasons Elite NY |
| &nbsp;&nbsp;&nbsp;USL - ARIABLE ANNUITY ACCOUNT FIVE | 333-178858 | Seasons Select II NY |
| &nbsp;&nbsp;&nbsp;USL - ARIABLE ANNUITY ACCOUNT FIVE | **Under the Investment Company Act of 1940:**<br> 811-08369 | **Under the Investment Company Act of 1940:**<br> 811-08369 |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 033-43390 | Generations VA, Variety Plus VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 002-49805 | Front End Load, Regular Surr. Charge |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 333-70667 | Platinum Investor VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 333-40637 | Select Reserve VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 033-57730 | WM Advantage VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 333-25549 | WM Strategic Asset Manager VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 333-234476 | Black, VA, Blue VA, Green VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 333-234477 | Orange VA, Yellow VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | 333-234478 | The Chairman VA |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT D | **Under the Investment Company Act of 1940:**<br> 811-02441 | **Under the Investment Company Act of 1940:**<br> 811-02441 |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-89897 | AG Legacy Plus |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-42567 | Platinum Investor I VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-90787 | Platinum Investor Survivor VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-80191 | Corporate America VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-53909 | Legacy Plus VUL (Orig.) |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-103361 | Platinum Investor II VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-43264 | Platinum Investor III VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-118318 | Platinum Investor IV VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-129552 | Platinum Investor VIP (Orig.) |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-109613 | Platinum Investor FlexDirector |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-82982 | Platinum Investor PLUS VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-65170 | Platinum Investor Survivor II VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-87307 | The ONE VUL Solution |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-234481 | EquiBuilder VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-234482 | EquiBuilder II VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | 333-234480 | EquiBuilder III VUL |
| &nbsp;&nbsp;&nbsp;AGL SEPARATE ACCOUNT VL-R | **Under the Investment Company Act of 1940:**<br> 811-08561 | **Under the Investment Company Act of 1940:**<br> 811-08561 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Registrant Name** | **File Nos.** | **File Nos.** |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL VL-R | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL VL-R | 333-151575 | Income Advantage Select VUL |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL VL-R | 333-149403 | Protection Advantage Select VUL |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL VL-R | 333-137941 | Platinum Investor VIP VUL |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL VL-R | 333-105246 | Platinum Investor PLUS VUL |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL VL-R | **Under the Investment Company Act of 1940**:<br> 811-09359 | **Under the Investment Company Act of 1940**:<br> 811-09359 |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL A | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL A | 333-234492 | Generations VA |
| &nbsp;&nbsp;&nbsp;USL SEPARATE ACCOUNT USL A | **Under the Investment Company Act of 1940:**<br> 811-04865 | **Under the Investment Company Act of 1940:**<br> 811-04865 |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | **Under the Securities Act of 1933:** | **Under the Securities Act of 1933:** |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | 002-32783 | GUP & GTS-VA |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | 033-75292 | Portfolio Director series 1.00 - 12.00, 1.20 - 13.20, 1.40 - 12.40, and 1.60 - 12.60 |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | 333-49232 | Potentia VA |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | 002-96223 | IMPACT UIT-981 VA |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | 333-124398 | Independence Plus VA |
| &nbsp;&nbsp;&nbsp;THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A | **Under the Investment Company Act of 1940:**<br> 811-03240 | **Under the Investment Company Act of 1940:**<br> 811-03240 |

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**POWERS OF ATTORNEY** 

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ BARBARA LUCK <br>BARBARA LUCK | Director, President, CEO, and Chairman of the Board of Directors <br>(Principal Executive Officer) | April 08, 2025 |
| /s/ SHELLEY SINGH<br>SHELLEY SINGH | Director, Chief Financial Officer and Senior Vice President <br>(Principal Financial Officer) | April 07, 2025 |
| /s/ ALLISON COOPER<br>ALLISON COOPER | Director | April 06, 2026 |
| /s/ MOHAMMAD ABU TURAB HUSSAIN<br>MOHAMMAD ABU TURAB HUSSAIN | Director | April 07, 2025 |
| /s/ JOHN F. KLAUS<br>JOHN F. KLAUS | Director | April 07, 2025 |
| /s/ DARREN MEYLER<br>DARREN MEYLER | Director | April 10, 2026 |
| /s/ KEITH WALSH<br>KEITH WALSH | Director | April 15, 2025 |

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