Variable Annuity Life Insurance Separate Account A Co

11/18/2024 | Press release | Distributed by Public on 11/18/2024 06:32

Prospectus by Investment Company - Form 497

497
SUPPLEMENT DATED NOVEMBER 18, 2024
TO THE PROSPECTUS AND INITIAL SUMMARY PROSPECTUS, EACH DATED APRIL 29, 2024
THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
SEPARATE ACCOUNT A
Fixed and Variable Deferred Annuity Contracts
Portfolio Director®Freedom Advisor
This supplement updates certain information in the above referenced prospectus and initial summary prospectus (collectively, the "Prospectus"). Except as indicated in this supplement, all other information included in the Prospectus and Appendix A-Funds Available Under the Contract ("Appendix A"), including the footnotes, remains unchanged. You should read this supplement in conjunction with your Prospectus and retain it for future reference. All capitalized terms used but not defined herein have the same meaning as those included in the Prospectus. The Prospectus is revised as follows:
In the "Important Information You Should Consider About the Contract" section, the following changes are made:
In the "Ongoing Fees and Expenses (annual charges)" section of the "FEES AND EXPENSES" table, the minimum fee for Investment Options is 0.21% and the Lowest Annual Cost is $827. Additionally, the maximum fee for Investment Options is 1.07% and the Highest Annual Cost is $1,698.
In the "Fee Tables" section in the prospectus and the "Additional Information About Fees" section in the initial summary prospectus, the following changes are made:
In the "Annual Fund Expenses" table, the minimum Annual Fund Expenses is 0.21% and the maximum Annual Fund Expenses is 1.07%.
In the "Examples" section, the following replaces the most expense examples:
The first set of examples assumes the most expensive combination of annual Contract expenses and annual Fund expenses. Based on these assumptions, your costs would be:
(1) If you surrender your Contract at the end of the applicable time period:
1 Year
3 Years
5 Years
10 Years
$1,698
$5,268
$9,084
$19,812
(2) If you annuitize your Contract or you do notsurrender your Contract:
1 Year
3 Years
5 Years
10 Years
$1,698
$5,268
$9,084
$19,812
The second set of examples assumes the least expensive combination of annual Contract expenses and annual Fund expenses. Based on these assumptions, your costs would be:
(1) If you surrender your Contract at the end of the applicable time period:
1 Year
3 Years
5 Years
10 Years
$827
$2,589
$4,504
$10,058
(2) If you annuitize your Contract or you do notsurrender your Contract:
1 Year
3 Years
5 Years
10 Years
$827
$2,589
$4,504
$10,058
Page 1 of 4
The following table replaces similar table in its entirety in Appendix A:
Type
Fund - Share Class
Adviser/Sub-Adviser1
Current
Expenses
Platform
Charge4
Current
Expenses
+
Platform
Charge
Average Annual
Total Returns
(as of Dec. 31, 2023)
1 Year
5 Year
10 Year
(or life of fund)
Domestic
Large-Cap
Equity
Systematic Growth Fund2, 3
Adviser: VALIC
Sub-Advisers: Goldman Sachs Asset Management, L.P.
and Wellington Management Company LLP
0.65%
None
0.65%
-38.81%
4.84%
11.53%
Capital Appreciation Fund2
Adviser: VALIC
Sub-Adviser: Columbia Management Investment
Advisers, LLC
0.77%
None
0.77%
-25.85%
9.18%
11.85%
Dividend Value Fund2, 3
Adviser: VALIC
Sub-Advisers: BlackRock Investment Management, LLC
and ClearBridge Investments, LLC
0.68%
None
0.68%
-5.63%
5.39%
9.72%
Growth Fund2, 3
Adviser: VALIC
Sub-Advisers: BlackRock and SunAmerica Asset
Management, LLC (an affiliate of VALIC due to common
ownership)
0.62%
None
0.62%
-36.05%
7.06%
11.13%
Large Capital Growth Fund2
Adviser: VALIC
Sub-Adviser: Massachusetts Financial Services Company
0.70%
None
0.70%
-19.15%
11.96%
13.41%
Nasdaq-100®Index Fund2, 3
Adviser: VALIC
Sub-Adviser: SunAmerica
0.43%
None
0.43%
-32.81%
11.70%
15.80%
Stock Index Fund2, 3
Adviser: VALIC
Sub-Adviser: SunAmerica
0.23%
None
0.23%
-18.33%
9.09%
12.20%
Systematic Core Fund2, 3
Adviser: VALIC
Sub-Adviser: Goldman Sachs
0.64%
None
0.64%
-18.72%
9.25%
12.23%
Systematic Value Fund2, 3
Adviser: VALIC
Sub-Adviser: Wellington Management
0.65%
None
0.65%
-6.66%
5.41%
9.75%
U.S. Socially Responsible Fund2
Adviser: VALIC
Sub-Adviser: SunAmerica
0.36%
None
0.36%
-17.12%
8.79%
12.40%
Domestic Mid-
Cap Equity
Mid Cap Strategic Growth Fund2
Adviser: VALIC
Sub-Advisers: Janus Henderson Investors US LLC and
Voya Investment Management Co. LLC
0.74%
None
0.74%
-23.40%
9.53%
11.77%
Mid Cap Value Fund2
Adviser: VALIC
Sub-Advisers: Boston Partners Global Investors, Inc.
(d/b/a Boston Partners) and Wellington Management
0.82%
None
0.82%
-8.48%
6.02%
9.47%
Mid Cap Index Fund2
Adviser: VALIC
Sub-Adviser: SunAmerica
0.35%
None
0.35%
-13.35%
6.32%
10.43%
Page 2 of 4
Type
Fund - Share Class
Adviser/Sub-Adviser1
Current
Expenses
Platform
Charge4
Current
Expenses
+
Platform
Charge
Average Annual
Total Returns
(as of Dec. 31, 2023)
1 Year
5 Year
10 Year
(or life of fund)
Domestic Small-
Cap Equity
Small Cap Growth Fund2, 3
Adviser: VALIC
Sub-Advisers: American Century Investment
Management, Inc. and T. Rowe Price Associates, Inc.
0.87%
None
0.87%
-32.44%
6.14%
11.60%
Small Cap Index Fund2, 3
Adviser: VALIC
Sub-Adviser: SunAmerica
0.37%
None
0.37%
-20.66%
3.80%
8.77%
Small Cap Special Values Fund2
Adviser: VALIC
Sub-Adviser: Allspring Global Investments, LLC
1.07%
None
1.07%
-13.72%
4.72%
9.98%
Small Cap Value Fund2, 3
Adviser: VALIC
Sub-Adviser: JPMIM
0.81%
None
0.81%
-13.87%
3.79%
8.25%
Global Equity
(International
and Domestic)
Global Strategy Fund2, 3
Adviser: VALIC
Sub-Advisers: Franklin Advisers, Inc. and Brandywine
Global Investment Management LLC
0.65%
None
0.65%
-16.78%
-1.15%
2.66%
International Socially Responsible Fund2, 3
Adviser: VALIC
Sub-Adviser: SunAmerica
0.58%
None
0.58%
-16.55%
3.24%
7.88%
International
Equity
Emerging Economies Fund2
Adviser: VALIC
Sub-Adviser: JPMIM
0.95%
None
0.95%
-25.35%
-3.28%
0.45%
International Equities Index Fund2, 3
Adviser: VALIC
Sub-Adviser: SunAmerica
0.43%
None
0.43%
-14.52%
1.29%
4.11%
International Growth Fund2, 3
Adviser: VALIC
Sub-Advisers: Morgan Stanley Investment
Management Inc. and Morgan Stanley Investment
Management Co.
0.81%
None
0.81%
-34.04%
4.25%
5.89%
International Opportunities Fund2, 3
Adviser: VALIC
Sub-Advisers: Invesco Advisers, Inc. and Wellington
Management
1.00%
None
1.00%
-24.45%
-0.48%
5.36%
International Value Fund2, 3
Adviser: VALIC
Sub-Adviser: Allspring
0.78%
None
0.78%
-10.94%
-0.87%
2.64%
Specialty
Global Real Estate Fund2
Adviser: VALIC
Sub-Advisers: Duff & Phelps Investment Management
Co. and MFS
0.91%
None
0.91%
-25.91%
-0.05%
3.13%
Science & Technology Fund2, 3
Adviser: VALIC
Sub-Advisers: BlackRock and Voya
0.91%
None
0.91%
-39.00%
8.05%
14.66%
Page 3 of 4
Type
Fund - Share Class
Adviser/Sub-Adviser1
Current
Expenses
Platform
Charge4
Current
Expenses
+
Platform
Charge
Average Annual
Total Returns
(as of Dec. 31, 2023)
1 Year
5 Year
10 Year
(or life of fund)
Hybrid
(Equity and
Fixed Income)
Aggressive Growth Lifestyle Fund2, 3
Adviser: VALIC
Sub-Adviser: JPMIM
0.58%
None
0.58%
-16.24%
4.40%
7.06%
Asset Allocation Fund2, 3
Adviser: VALIC
Sub-Adviser: JPMIM
0.65%
None
0.65%
-16.42%
2.73%
5.39%
Conservative Growth Lifestyle Fund2, 3
Adviser: VALIC
Sub-Adviser: JPMIM
0.62%
None
0.62%
-14.16%
2.34%
3.97%
Moderate Growth Lifestyle Fund2, 3
Adviser: VALIC
Sub-Adviser: JPMIM
0.58%
None
0.58%
-14.77%
4.12%
6.14%
Fixed Income
Core Bond Fund2
Adviser: VALIC
Sub-Adviser: PineBridge Investments LLC
0.48%
None
0.48%
-14.25%
0.02%
1.13%
Goldman Sachs VIT Government Money Market Fund3-
Institutional Shares
Adviser: Goldman Sachs
0.18%
None
0.18%
1.58%
1.17%
0.75%*
Government Securities Fund2
Adviser: VALIC
Sub-Adviser: JPMIM
0.60%
None
0.60%
-11.16%
-0.19%
0.42%
High Yield Bond Fund2, 3
Adviser: VALIC
Sub-Adviser: Wellington Management
0.68%
None
0.68%
-10.65%
2.04%
3.46%
Inflation Protected Fund2, 3
Adviser: VALIC
Sub-Adviser: Wellington Management
0.59%
None
0.59%
-10.17%
1.76%
0.99%
International Government Bond Fund2
Adviser: VALIC
Sub-Adviser: PineBridge
0.81%
None
0.81%
-16.22%
-1.73%
-0.51%
You should read the prospectuses for the above referenced Funds for more detailed information about the Funds. These prospectuses may be obtained by vising our website at https://www.corebridgefinancial.com/rs/prospectus-and-reports/annuities or by calling us at 1-800-448-2542.
Please keep this supplement with your Prospectus.
Page 4 of 4