I would be uncomfortable with a lot of fluctuation. If I could be sure that much of my accumulation was guaranteed to rise in value, I would be content with a slower rate of growth. I will not mind if the value of my accumulation fluctuates, as long as some of it is guaranteed not to decrease. Guaranteed investments that will protect me from loss of principal. A highly diversified mix of stocks, offering the potential for long-term growth within acceptable risk limits.
More risk also means the potential for a less comfortable retirement.
You have allocated much of your contributions to a variable account. Change my allocation to a less volatile account. Re-examine how all of my other funds are allocated to see if I can be comfortable with that degree of change. Simply keep pace with inflation. Grow at a rate modestly higher than inflation.