Notice Document by Insurance Company (Form N-VP)

Schwab Select Annuity®

Empower Life & Annuity Insurance Company of New York
Variable Annuity-1 Series Account
P.O. Box 1854
Birmingham, Alabama 35201-1854
Telephone: 1-800-838-0650
www.protective.com

FEES, EXPENSES, AND ADJUSTMENTS

Are There Transaction Charges?

Yes. You may be assessed a fee for each transfer after the first 12 transfers in a Contract Year.

For more information about transaction charges, see "FEE TABLE - Contract Owner Transaction Expenses" and "Charges and Deductions" in the Prospectus.

Are There Ongoing Fees and Expenses?

Annual Fee

Minimum

Maximum

0.86%

0.86%

0.03%

1.90%

None

Lowest Annual Cost:
$927

Highest Annual Cost:
$2,740

•

Investment of  $100,000

​

•

5% annual appreciation

​

•

Least expensive combination of Base Contract fee and Portfolio fees and expenses

​

•

No optional benefits

​

•

No additional Contributions, transfers or withdrawals

​

•

No sales charges

​

•

Investment of  $100,000

​

•

5% annual appreciation

​

•

Most expensive combination of Base Contract fee, optional benefits and Portfolio fees and expenses

​

•

No additional Contributions, transfers, or withdrawals

​

•

No sales charges

​

RISKS

Yes. You can lose money by investing in this Contract, including loss of principal.

For additional information about the risk of loss, see "First Great-West Life & Annuity Insurance Company", "The Series Account" and "The Portfolios" in the Prospectus.

RISKS

Is This a Short-Term Investment?

No. This Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Although you are permitted to take withdrawals or surrender the Contract, federal and state income taxes may apply.

Withdrawals will reduce your contract value and death benefit.

The benefits of tax deferral and living benefit protections also mean the Contract is less beneficial to investors with a short time horizon.

For additional information about the investment profile of the Contract, see "Charges and Deductions", "Federal Tax Matters", and "Seek Tax Advice" in the Prospectus.

What Are the Risks Associated with Investment Options?

An investment in this Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Investment Options available under the Contract.

Each Investment Option (including the Guaranteed Period Fund) has its own unique risks.

You should review the prospectuses for the available Portfolios and consult with your financial professional before making an investment decision.

For additional information about the risks associated with Investment Options, see "The Portfolios" in the Prospectus.

What Are the Risks Related to the Insurance Company?

An investment in the Contract is subject to the risks related to the Company. Any obligations (including under the Guaranteed Account), guarantees, or benefits under the Contract are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available upon request at no charge by calling us at 1-800-838-0650 or writing us at the address shown on the cover page.

For additional information about Company risks, see "First Great-West Life & Annuity Insurance Company" in the Prospectus.

RESTRICTIONS

Are There Restrictions on the Investment Options?

Yes. We reserve the right to remove or substitute Portfolios as Investment Options that are available under the Contract. We also reserve the right to restrict the allocation of additional Contributions and/or transfers of contract value to a Portfolio if we determine the Portfolio no longer meets one or more of our Portfolio selection criteria and/or if a Portfolio has not attracted significant contract owner assets.

For additional information about Investment Options, see "Charges and Deductions", "Addition, Deletion, or Substitution" and "The Portfolios" in the Prospectus.

TAXES

What Are the Contract's Tax Implications?

You should consult with a qualified tax advisor regarding the federal tax implications of an investment in, payments received under, and other transactions in connection with this Contract.

If you purchase the Contract through a tax-qualified plan or individual retirement arrangement (IRA), you do not get any additional tax deferral. Generally, all earnings on the investments underlying the Contract are tax-deferred until distributed or deemed distributed. A distribution from a non-qualified Contract, which includes a surrender, withdrawal, payment of a death benefit, or annuity income payments, will generally result in taxable income if there has been an increase in the contract value. In the case of a qualified Contract, a distribution generally will result in taxable income even if there has not been an increase in the contract value. In certain circumstances, a 10% additional tax may also apply if the Owner takes a withdrawal before age 59½. All amounts includable in income with respect to the Contract are taxed as ordinary income; no amounts are taxed at the special lower rates applicable to long term capital gains and corporate dividends.

For additional information about tax implications, see "Seek Tax Advice", "Federal Tax Matters", and "Tax Consequences of Withdrawals" in the Prospectus.

CONFLICTS OF INTEREST

How Are Investment Professionals Compensated?

We pay eligible broker/dealers compensation for the promotion and sale of the Contract. Compensation paid to eligible broker/dealers is not paid directly by the Owner or the Series Account. The Company intends to fund this compensation through a number of sources, such as fees and charges imposed under the Contract and payable to the Company, and from profits on payments received by the Company from Portfolios' advisers or administrators for providing administrative, marketing, and other support and services to the Portfolios.

For additional information about compensation, see "Distribution of the Contracts" and "Expenses of the Portfolios" in the Prospectus.

Should I Exchange My Contract?

Some investment professionals may have a financial incentive to offer you a new contract in place of the contract you already own. You should only exchange your current contract if you determine, after comparing the features, fees, and risks of both contracts, that it is better for you to purchase the new contract rather than continue to own your existing contract.

For additional information about exchanges, see "Seek Tax Advice" in the Prospectus.

Asset
Allocation
Type

Portfolio Company - Investment Adviser;
Sub-Adviser(s), as applicable(2)

Net
Annual
Expenses -
Current
Expenses

Average Annual Total Returns
(as of 12/31/2025)

1 Year

5 Year

10 Year

U.S. Equity

AB Variable Products Series Fund, Inc. - Discovery Value Portfolio - Class A - AllianceBernstein L.P.

0.82%

2.89%

8.75%

8.55%

International
Equity

AB Variable Products Series Fund, Inc. - International Value Portfolio - Class A - AllianceBernstein L.P.​

0.92%

41.70%

10.47%

6.64%

U.S. Equity

AB Variable Products Series Fund, Inc. - Large Cap Growth Portfolio - Class A - AllianceBernstein L.P.

0.65%

13.13%

12.04%

16.17%

U.S. Equity

AB Variable Products Series Fund, Inc. - Relative Value Portfolio - Class A - AllianceBernstein L.P. (1)

0.59%

10.47%

11.42%

10.57%

U.S. Equity

0.85%

30.27%

11.42%

10.57%

U.S. Equity

0.92%

16.77%

3.01%

11.68%

U.S. Equity

1.00%

6.71%

8.94%

11.85%

U.S. Equity

BNY Mellon Investment Portfolios: MidCap Stock Portfolio - Initial Shares - Newton Investment Management North America, LLC(1) (2)

0.80%

10.07%

9.67%

8.78%

U.S. Equity

BNY Mellon Variable Investment Fund: Appreciation Portfolio - Initial Shares - Fayez Sarofim & Company

0.85%

10.07%

9.37%

12.92%

U.S. Equity

BNY Mellon Variable Investment Fund: Growth and Income Portfolio - Initial Shares - Newton Investment Management North America, LLC(1)

0.70%

16.83%

14.22%

14.66%

U.S. Equity

BNY Mellon Variable Investment Fund: Small Cap Portfolio - Initial Shares - Newton Investment Management North America, LLC(formerly, BNY Mellon Variable Investment Fund: Opportunistic Small Cap Portfolio)​

0.83%

10.99%

4.26%

7.83%

U.S. Equity

Columbia Variable Portfolio - Cornerstone Growth Fund - Class 2 (formerly, Columbia Variable Portfolio - Large Cap Growth Fund)​

0.97%

15.85%

13.75%

15.69%

Sector Equity

Columbia Variable Portfolio - Seligman Global Technology Fund -Class 2 (1)

1.18%

34.37%

18.42%

22.70%

U.S. Equity

Columbia Variable Portfolio - Small Cap Value Discovery Fund - Class 2 (formerly, Columbia Variable Portfolio - Small Cap Value Fund) (1)

1.13%

14.66%

12.19%

11.20%

U.S. Equity

0.49%

12.53%

10.92%

15.29%

U.S. Equity

0.59%

16.83%

13.27%

13.53%

U.S. Equity

0.71%

17.19%

12.30%

8.17%

U.S. Equity

DWS Small Cap Index VIP - Class A - Northern Trust Investments, Inc.(1)

0.37%

12.64%

5.84%

9.33%

U.S. Equity

0.80%

18.21%

9.66%

7.57%

Taxable Bond

Federated Hermes Fund for US Government Securities II - Primary Class (1)

0.78%

6.80%

-0.84%

1.06%

Allocation

Federated Hermes Managed Volatility Fund II - Primary Class (1) (2)

0.97%

7.03%

6.56%

6.85%

U.S. Equity

0.91%

7.65%

8.86%

9.81%

U.S. Equity

0.75%

17.45%

15.43%

11.95%

Asset
Allocation
Type

Portfolio Company - Investment Adviser;
Sub-Adviser(s), as applicable(2)

Net
Annual
Expenses -
Current
Expenses

Average Annual Total Returns
(as of 12/31/2025)

1 Year

5 Year

10 Year

U.S. Equity

0.80%

16.17%

12.81%

11.73%

International
Equity

Invesco® V.I. EQV International Equity Fund - Series I​

0.90%

16.50%

3.68%

6.22%

International
Equity

0.81%

15.32%

7.28%

11.00%

U.S. Equity

0.75%

15.62%

12.85%

10.73%

U.S. Equity

0.92%

6.73%

3.64%

4.83%

U.S. Equity

0.94%

9.19%

9.11%

9.35%

U.S. Equity

0.96%

8.05%

7.32%

9.55%

Allocation

Janus Henderson Balanced Portfolio - Institutional Shares (2)

0.62%

15.11%

8.48%

10.14%

Allocation

Janus Henderson Balanced Portfolio - Service Shares

0.87%

14.82%

8.21%

9.86%

Taxable Bond

Janus Henderson Flexible Bond Portfolio - Institutional Shares (1) (2)

0.57%

7.40%

-0.23%

2.32%

Taxable Bond

Janus Henderson Flexible Bond Portfolio - Service Shares​ (1)

0.82%

7.22%

-0.47%

2.07%

International
Equity

Janus Henderson Global Research Portfolio - Institutional Shares

0.82%

20.92%

12.51%

12.93%

International
Equity

Janus Henderson Overseas Portfolio - Institutional Shares (2)

0.72%

28.87%

9.44%

9.24%

International
Equity

Janus Henderson Overseas Portfolio - Service Shares

0.96%

28.58%

9.17%

8.97%

U.S. Equity

Janus Henderson Research Portfolio - Institutional Shares​ (2)

0.82%

18.39%

14.11%

15.88%

International Equity

Lazard Retirement Emerging Markets Equity Portfolio - Service Shares​ (1)

1.38%

41.77%

10.76%

9.35%

Allocation

LVIP American Century Balanced Fund - Standard Class II - Lincoln Financial Investments Corporation (1)

0.77%

9.62%

6.49%

8.03%

International
Equity

LVIP American Century International Fund - Standard Class II - Lincoln Financial Investments Corporation (1)

0.95%

15.98%

1.85%

6.42%

U.S. Equity

LVIP American Century Mid Cap Value Fund - Service Class - Lincoln Financial Investments Corporation (1)

1.01%

8.83%

8.72%

8.96%

U.S. Equity

LVIP American Century Value Fund - Standard Class II - Lincoln Financial Investments Corporation (1)

0.71%

16.02%

11.65%

10.23%

U.S. Equity

LVIP Baron Growth Opportunities Fund - Service Class - Lincoln Financial Investments Corporation - BAMCO Inc.(1)

1.15%

-10.08%

-0.33%

8.78%

U.S. Equity

LVIP Nomura SMID Cap Core Fund - Standard Class - Lincoln Financial Investments Corporation (formerly, LVIP Macquarie SMID Cap Core Fund - Standard Class) (1)

0.80%

8.85%

9.10%

9.65%

International
Equity

MFS® VIT II International Intrinsic Equity Portfolio - Service Class - Massachusetts Financial Services Company (formerly, MFS® VIT II International Instrinsic Value Portfolio) (1)

1.14%

32.96%

7.02%

9.68%

Sector Equity

MFS® VIT Utilities Series - Service Class - Massachusetts Financial Services Company (1)

1.03%

14.76%

7.38%

9.22%

U.S. Equity

Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio - Class S (1) (2)

1.10%

11.34%

9.83%

7.51%

U.S. Equity

Nomura VIP Small Cap Value Series - Standard Class - Delaware Management Company, a series of Nomura Investment Management Business Trust (formerly, Macquarie VIP Small Cap Value Series - Standard Class)

0.74%

8.16%

9.26%

9.15%

Asset
Allocation
Type

Portfolio Company - Investment Adviser;
Sub-Adviser(s), as applicable(2)

Net
Annual
Expenses -
Current
Expenses

Average Annual Total Returns
(as of 12/31/2025)

1 Year

5 Year

10 Year

U.S. Equity

NVIT Mid Cap Index Fund - Class II - Nationwide Fund Advisors - BlackRock Investment Management, LLC

0.66%

6.82%

8.47%

10.06%

Taxable Bond

PIMCO VIT High Yield Portfolio - Administrative Class - Pacific Investment Management Company LLC

0.81%

8.95%

3.97%

5.57%

Taxable Bond

PIMCO VIT Low Duration Portfolio - Administrative Class - Pacific Investment Management Company LLC

0.66%

5.52%

1.57%

1.79%

Taxable Bond

PIMCO VIT Total Return Portfolio - Administrative Class - Pacific Investment Management Company LLC

0.73%

8.89%

0.02%

2.36%

U.S. Equity

0.86%

18.05%

11.88%

13.50%

Sector Equity

Putnam VT Global Health Care Fund - Class IB - Franklin Advisers, Inc.; The Putnam Advisory Company, LLC; Franklin Templeton Investment Management Limited

1.00%

15.05%

7.71%

8.36%

U.S. Equity

Putnam VT Large Cap Value Fund - Class IB - Frankin Advisers, Inc.; Franklin Templeton Investment Management Limited

0.79%

20.35%

15.38%

13.30%

Taxable Bond

Putnam VT Mortgage Securities Fund - Class IB - Franklin Advisers, Inc. - Putnam Investment Management, LLC; Franklin Templeton Investment Management Limited(1)

0.75%

9.09%

0.83%

1.62%

U.S. Equity

1.44%

8.73%

10.40%

7.63%

Money Market

0.27%

4.11%

3.09%

1.96%

U.S. Equity

0.03%

17.83%

14.38%

14.75%

International
Equity

1.08%

29.19%

8.25%

5.75%

International
Equity

1.30%

34.85%

17.68%

9.66%

Taxable Bond

Touchstone VST Bond Fund - Class I - Fort Washington Investment Advisors, Inc.(1)

0.62%

7.63%

-0.14%

2.13%

U.S. Equity

Touchstone VST Common Stock Fund - Class I - Fort Washington Investment Advisors, Inc.(1)

0.73%

17.83%

13.80%

14.20%

U.S. Equity

Touchstone VST Common Stock Fund - Class SC - Fort Washington Investment Advisors, Inc.

0.92%

17.65%

13.58%

13.93%

U.S. Equity

Touchstone VST Small Company Fund - Class I - Fort Washington Investment Advisors, Inc.(1)

0.76%

9.72%

9.10%

11.37%

Taxable Bond

VanEck® VIP Emerging Markets Bond Fund - Initial Class (1)

1.10%

18.49%

3.91%

5.24%

U.S. Equity

0.75%

23.35%

14.98%

15.75%

U.S. Equity

Victory Pioneer Mid Cap Value VCT Portfolio - Class II​

1.01%

10.86%

10.88%

8.73%

U.S. Equity

Victory Pioneer Select Mid Cap Growth VCT Portfolio - Class I​

0.86%

20.47%

5.73%

11.93%

Name

Term

Minimum Guaranteed
Interest Rate

Guarantee Period Fund*

1 to 10 Years