Summary Prospectus for New Investors by Investment Company (Form 497VPI)

Table of Contents
 

Special Terms Used in this Summary Prospectus	3
Important Information You Should Consider About the Contract	4
Overview of the Contract	8
Benefits Available Under the Contract	10
Buying the Contract	11
Making Withdrawals: Accessing the Money in Your Contract	12
Additional Information About Fees	13
Appendix A - Funds Available Under the Contract	A-17
Appendix B - Index Information	B-1

 

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 Services® is an advisory service offered by VFA. A separate investment advisory fee and agreement are required for this service, if available under an employer's retirement plan. We no longer honor investment adviser transfer requests in connection with Advisory Programs that are offered through third-party Investment Advisers.

 

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. On U.S. holidays or other days when the NYSE is closed, such as Good Friday, the Company is not open for business.

 

Contract

The group and individual fixed and variable deferred annuity contracts summarized in this summary prospectus and described in more detail in the prospectus.

 

Contract Year

A 12-month period starting with the issue date of a Contract or Participant's Contract certificate, as applicable, and each anniversary of that date.

 

Fixed Account Option

An account that is guaranteed to earn at least a minimum rate of interest while invested in VALIC's general account.

 

Fixed Account Plus

A type of Fixed Account Option under the Contract.

 

Fund or Mutual Fund

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.

 

Investment Adviser	The investment adviser that you have engaged to provide services as part of an Advisory Program. 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.

 

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.

 

Multi-Year Enhanced Option

A type of Fixed Account Option, potentially subject to market value adjustments.

 

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.

 

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.

 

Platform Charge

A fee we charge in order to make certain underlying Funds available as an investment option under the Contract.

 

Purchase Payment

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).

 

Short-Term Fixed Account

A type of Fixed Account Option under the Contract.

 

VALIC (we, us, our)

The Variable Annuity Life Insurance Company.

 

Variable Investment Option (or Division)

Any variable investment option under the Contract. Each Variable Investment Option invests in the shares of a single Fund.

 

	FEES AND EXPENSES			Location in Prospectus
Charges for Early Withdrawals	Your Contract may be subject to surrender charges depending on the series of Contract: •Series 1, 3, 4, 5, 7, and 9. If you withdraw money under the Contract within five years of making a Purchase Payment, you may be assessed a surrender charge of up to 5%, either as a percentage of the amount withdrawn or as a percentage of Purchase Payments made during the last five years, whichever is less. •Series 2, 6, 11, and 12. No surrender charge. For example, if you own a series 1, 3, 4, 5, 7, or 9 Contract and make an early withdrawal, you could pay a surrender charge of up to $5,000 on a $100,000 investment. No surrender charges would apply to a series 2, 6, 11, or 12 Contract. You may be subject to a market value adjustment if you make an early withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed Account Option).			Fee Tables   Fees and Charges - Surrender Charge
Transaction Charges	In addition to surrender charges (if applicable), you may also be charged for other transactions. •You may be subject to a market value adjustment if you make an early withdrawal or transfer from a Multi-Year Enhanced Option (a type of Fixed Account Option). •In certain states, you may be subject to a loan application fee and loan interest if you request a loan under the Contract. •Under a series 11 contract, if you transfer amounts from the Fixed Account Plus option to another investment option under the Contract (or to another funding entity while you are still employed with the group) in excess of the annual limit, you may be subject to a charge of 5% on the excess amount transferred. •While you are enrolled in an Advisory Program, you will pay an Advisory Program Fee to your Investment Adviser, and your Investment Adviser may direct VALIC to deduct such fee from your Account Value. •There may also be taxes on Purchase Payments.			Fee Tables   Fees and Charges

	CONFLICTS OF INTEREST			Location in Prospectus
Exchanges	Some financial professionals may have a financial incentive to offer you a new contract in place of the one you already own. You should exchange a contract you already own only 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.			General Information - Distribution of 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.

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 and any annuity benefits, and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. See "Advisory Program" and "Federal Tax Matters" in the 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:

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, 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 payments on a variable or fixed basis, or a combination of both. If the Payout Payments are fixed, the dollar amount of each payment will be the same. If the Payout Payments are variable, 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.

Contract Features

Contract Series. This summary prospectus describes 10 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.

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 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.

Tax Treatment. You can transfer money 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.

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.

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

Standard Benefits
Name of Benefit	Purpose	Maximum Fee	Brief Description of Restrictions / Limitations
Interest Guaranteed Death Benefit	Provides a death benefit based on the greater of Account Value or Net Purchase Payments plus interest	No Charge	•Payable only during the Purchase Period •Payable only if death occurs before age 70 •May not be available in all states •Withdrawals, including withdrawals to pay your advisory fees, may significantly reduce the benefit
Standard Death Benefit	Provides a death benefit based on the greater of Account Value or Net Purchase Payments	No Charge	•Payable only during the Purchase Period •Generally payable only if death occurs on or after age 70 •Payable in any state where the interest guaranteed death benefit is not available, even if death occurs before age 70 •Withdrawals, including withdrawals to pay your advisory fees, may significantly reduce the benefit
Systematic Withdrawals	Allows you to automatically receive withdrawals on a regular basis during the Purchase Period	No Charge	•Withdrawals may be subject to surrender charges •Market value adjustments may apply to amounts withdrawn or transferred from a Multi-Year Enhanced Option •No more than one systematic withdrawal election may be in effect at any time •We reserve the right to discontinue any or all systematic withdrawals or to change the terms at any time
No Charge Systematic Withdrawals	Allows you to automatically receive withdrawals on a regular basis during the Purchase Period without surrender charges	No Charge	•Withdrawals must be made to you over a period of not less than five years, and the annual amount withdrawn may not exceed 20% of Account Value at time of election •Market value adjustments may apply to amounts withdrawn or transferred from a Multi-Year Enhanced Option •May not change election once withdrawals begin •No more than one systematic withdrawal election may be in effect at any time •We reserve the right to discontinue any or all systematic withdrawals or to change the terms at any time
Loans	Provides tax-free access to amounts invested in Fixed Account Options (excluding Multi-Year Enhanced Options)	$75 application fee (per loan, where permitted by state law) Maximum net interest rate 6%	•Available only during the Purchase Period •May not be taken against amounts invested in Variable Investment Options or Multi-Year Enhanced Options •Interest will accrue on outstanding loan amounts •Minimum loan amount is $1,000
Advisory Program	The investment advice service provided by your Investment Adviser	Not applicable	•A separate investment advisory fee and agreement is required •May not be available under your employer's retirement plan or in connection with your Contract •If investment adviser fees are deducted from the Contract, any deduction may reduce the death benefit, and annuity benefits, and may be subject to surrender charges, federal and state income taxes and a 10% federal penalty tax. •For new investors, we no longer honor investment adviser transfer requests in connection with Advisory Programs that are offered through third-party Investment Advisers.

Purchasing the Contract

If you are an employer purchasing a group Contract in connection with a retirement plan, or if you are an individual purchasing an individual Contract, you may purchase a Contract through licensed insurance agents who are registered representatives of broker-dealers. If you are an employee seeking to participate in your employer's group Contract, you may establish an account through your employer. Your employer will be responsible for furnishing the necessary information (including enrollment information and allocation instructions) and remitting the initial Purchase Payment to us.

When an initial Purchase Payment is accompanied by an application (or enrollment form), we will promptly either:

If we receive an initial Purchase Payment 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 either return the Purchase Payment, deposit the Purchase Payment into an employer-directed account, or deposit the Purchase Payment into a starter account.

Purchase Payments

Any contribution that you make into the Contract is a Purchase Payment. The initial Purchase Payment is the money you initially contribute to the Contract when purchasing the Contract or opening an account. For periodic payment Contracts, each contribution thereafter is a Subsequent Purchase Payment. If you are participating in an employer-sponsored retirement plan, your employer is responsible for remitting Purchase Payments to us. Otherwise, you should remit Purchase Payments to us directly or through your financial intermediary.

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

Minimum initial and Subsequent Purchase Payments are as follows: 

Contract Type	Initial Purchase Payment	Subsequent Purchase Payment
Periodic Payment	$30	$30
Single Payment	$1,000	Not Applicable

Periodic payment minimums apply to each periodic payment made. The single payment minimum applies to each account.

Crediting and Allocating Purchase Payments

A Purchase Payment must be in "good order" before it can be posted to your account. "Good order" means that all required information and/or documentation has been supplied and that the funds (check, wire, or ACH) clearly identify for whom the Purchase Payment is to be applied. See "When Your Account Will be Credited" under "Purchase Period" in the prospectus for specific information that we will require for a Purchase Payment to be in good order.

We will credit a Purchase Payment to your account as follows:

Payment by crediting that amount to your account, effective the date we accept your application. If you do not give us all of the information we need, we will contact you to get it before we make any allocation. If for some reason we are unable to complete this process within 5 Business Days, we will either send back your money or get your permission to keep it until we get all of the necessary information.

When we credit a Purchase Payment to your account, we will allocate the Purchase Payment among the Fixed Account Option(s) and/or Variable Investment Option(s) based on the allocation instructions applicable to that Purchase Payment.

We may establish an account for you at the direction of your employer if your employer provides such direction on a form acceptable to VALIC and accompanied by certain necessary information. Under such circumstances, 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. In situations where we have your name, address and SSN, but 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 and request the information necessary to complete the application. 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.

Making Withdrawals: Accessing the Money in Your Contract

Purchase Period

During the Purchase Period, you may withdraw all or part of your Account Value at any time if allowed by applicable law and your retirement plan. The following table highlights certain important information regarding withdrawals under the Contract. 

Surrender Charges and Taxes	Your withdrawal may be subject to surrender charges and taxes, including a 10% federal tax penalty if you are younger than age 59½.
	In any Contract Year, up to 10% of the Account Value may be withdrawn without a surrender charge. The surrender charge will generally 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 Contract Year, each percentage will be added to determine at what point the 10% limit has been reached.
Market Value Adjustments	If you take an early withdrawal from a Multi-Year Enhanced Option, the withdrawal will be subject to a market value adjustment that will result in either an increase or reduction in the value of your investment in the Multi- Year Enhanced Option.
Negative Impact on Contract values	A withdrawal will reduce the value of your Contract and may reduce the value of the death benefit (perhaps significantly).
Internal Revenue Code or Retirement Plan	Depending on the circumstances, the Internal Revenue Code or your retirement plan may restrict your ability to take withdrawals.

When you take a partial withdrawal, you may specify an amount to be taken from each investment option in which you are invested, or that the amount should be withdrawn pro-rata against all of your investment options. If you do not specify, the withdrawal will be taken pro-rata against all of your investment options.

Withdrawing all of the money in your Contract (also known as a full surrender) will terminate your account. If your Account Value falls below $300, and you do not make any Purchase Payments for at least two years, we may terminate your account and pay the Account Value to you.

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).

Payout Period

Once the Payout Period begins, you will receive Payout Payments from your Contract under the selected payout option. You cannot make withdrawals of your Account Value during the Payout Period.

Requesting a Surrender or Withdrawal

If you would like to access all or a portion of your Account Value during the Purchase Period, you must complete a surrender request form in good order or information required in other approved media. Submit your request to our Home Office at 2919 Allen Parkway, Houston, Texas 77019, or to our Annuity Service Center, P.O. Box 15648, Amarillo, Texas 79105. Good order means that all paperwork is complete and signed or approved by all required persons, and any necessary supporting legal documents or plan forms have been received in correct form.

We will send via EFT or by mail a check with the surrender value to you within seven calendar days after we receive your request if it is in good order. Under certain circumstances, we may be permitted or required by applicable law to delay payment.If you wish to receive automatic withdrawals, you may enroll in a systematic withdrawal program under the Contract, if available.

Additional Information About Fees

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals 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 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 the Contract, or transfer cash value between investment options. State premium taxes may also be deducted.

Transaction Expenses 

Maximum Surrender Charge
Series 1, 3, 4, 5, 7, and 9	5.00%(1)
Series 2, 6, 11, and 12	None
Maximum Loan Application Fee (per loan)	$75
Fixed Account Plus Excess Transfer Charge
Series 11	5.00%(2)
Other Series	None

The following tables describe the fees and expenses that you will pay each year during the time that you own the Contract, not including the Funds' fees and expenses.

Annual Contract Expenses 

Annual Variable Investment Option Maintenance Charge
Series 1 and 9	$15
Series 2, 3, 4, 5, 6, 7, 11, and 12	None

 

Annual Fees	Current	Maximum
Base Contract Expenses(3) (as a percentage of average daily net asset value allocated to the Variable Investment Option)	0.60%	0.61%

 

Loan Interest Charges (as a percentage of average daily value allocated to the Fixed Account Option(s))

Current Annual Fee Rate

Non-ERISA Contracts1	3.00 - 6.00%3
ERISA Contracts2	5.50%4

1 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.

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

3 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.

4 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.

Annual Fund Expenses

The next table shows the minimum and maximum total operating expenses charged by the Funds that you may pay periodically during the time that you own the Contract. These amounts also include applicable platform expenses if you choose to invest in certain Funds. A complete list of Funds available under the Contract, including their annual expenses, may be found in the Appendix A in this document. 

Annual Fund Expenses (expenses that are deducted from Fund assets, including management fees, distribution and/or service (12b-1) fees (if applicable), and other expenses)	Minimum(4)	Maximum(5)
	0.20%	1.29%

Footnotes to the Fee Tables

(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 prospectus.

(2) For all series, transfers from the Fixed Account Plus option are limited to 20% per Participant Year. See "Transfers Between Investment Options" in the prospectus. 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 "Fees and Charges - Fixed Account Plus Transfer Charge (Series 11 Contracts Only) in the prospectus.

(3) 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" in the prospectus. The Base Contract Expenses do not reflect any applicable platform expenses that may apply. Platform expenses are reflected in the "Annual Fund Expenses" and "Appendix A" in the prospectus.

(4) The Funds with the lowest total annual fund operating expenses are the Vanguard Long-Term Treasury Fund.

(5) The Fund with the highest total annual fund operating expenses is the Invesco Balanced-Risk Commodity Strategy Fund.

Examples

These examples are intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include transaction expenses, annual Contract expenses, and annual Fund expenses.

Each example assumes that you invest a single Purchase Payment of $100,000 in the Contract for the time periods indicated and that your investment has a 5% return each year. Neither example includes the effect of premium taxes upon annuitization, or the effect of any advisory fees paid to your Investment Adviser from the Contract. 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 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: 

Series 1 and 9
1 Year	3 Years	5 Years	10 Years
$6,574	$10,921	$15,294	$22,299
Series 3, 4, 5, and 7

1 Year	3 Years	5 Years	10 Years
$6,559	$10,880	$15,223	$22,165
Series 2, 6, 11, and 12
1 Year	3 Years	5 Years	10 Years
$1,919	$5,942	$10,223	$22,165

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

Series 1 and 9
1 Year	3 Years	5 Years	10 Years
$1,934	$5,986	$10,294	$22,299
Series 3, 4, 5, and 7
1 Year	3 Years	5 Years	10 Years
$1,919	$5,942	$10,223	$22,165
Series 2, 6, 11, and 12
1 Year	3 Years	5 Years	10 Years
$1,919	$5,942	$10,223	$22,165

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:  

Series 1 and 9
1 Year	3 Years	5 Years	10 Years
$5,520	$7,601	$9,523	$10,082
Series 3, 4, 5, and 7
1 Year	3 Years	5 Years	10 Years
$5,506	$7,557	$9,450	$9,939
Series 2, 6, 11, and 12
1 Year	3 Years	5 Years	10 Years
$817	$2,557	$4,450	$9,939

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

Series 1 and 9
1 Year	3 Years	5 Years	10 Years
$832	$2,601	$4,523	$10,082
Series 3, 4, 5, and 7
1 Year	3 Years	5 Years	10 Years
$817	$2,557	$4,450	$9,939
Series 2, 6, 11, and 12
1 Year	3 Years	5 Years	10 Years
$817	$2,557	$4,450	$9,939

The following is a list of Funds available under the Contract. More information about the Funds is available in the prospectuses for the Funds, 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. 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 Funds may not be available for all plans or individual or group contracts.

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

Type	Fund - Share Class Adviser/Sub-Adviser1	Current Expenses	Platform Charge6	Current Expenses + Platform Charge	Average Annual Total Returns (as of Dec. 31, 2024)
					1 Year	5 Year	10 Year (or life of fund)
Domestic Large-Cap Equity	American Beacon Man Large Cap Growth Fund3, 5 - Investor Class Adviser: American Beacon Advisors, Inc. Sub-Adviser: Numeric Investors LLC	1.09%	None	1.09%	23.60%	14.47%	15.58%*
	Systematic Growth Fund2, 5 Adviser: VALIC Sub-Advisers: Goldman Sachs Asset Management, L.P. and Wellington Management Company LLP	0.65%	None	0.65%	34.48%	13.26%	14.17%
	Capital Appreciation Fund2 Adviser: VALIC Sub-Adviser: Columbia Management Investment Advisers, LLC	0.77%	None	0.77%	31.78%	17.48%	14.45%
	Dividend Value Fund2, 5 Adviser: VALIC Sub-Advisers: BlackRock Investment Management, LLC and ClearBridge Investments, LLC	0.68%	None	0.68%	12.84%	8.00%	8.50%
	Growth Fund2, 5 Adviser: VALIC Sub-Advisers: BlackRock	0.62%	None	0.62%	32.74%	16.43%	14.46%
	Large Capital Growth Fund2 Adviser: VALIC Sub-Adviser: Massachusetts Financial Services Company	0.70%	None	0.70%	16.24%	12.44%	13.21%
	Nasdaq-100® Index Fund2, 5 Adviser: VALIC Sub-Adviser: BlackRock	0.43%	None	0.43%	25.27%	19.55%	17.90%
	Stock Index Fund2, 5 Adviser: VALIC Sub-Adviser: BlackRock	0.23%	None	0.23%	24.66%	14.17%	12.74%
	Systematic Core Fund2, 5 Adviser: VALIC Sub-Adviser: Goldman Sachs	0.64%	None	0.64%	23.11%	14.06%	12.32%
	Systematic Value Fund2, 5 Adviser: VALIC Sub-Adviser: Wellington Management	0.65%	None	0.65%	16.74%	9.02%	8.41%
	U.S. Socially Responsible Fund2 Adviser: VALIC Sub-Adviser: BlackRock	0.36%	None	0.36%	18.61%	11.99%	11.50%
	Vanguard Windsor II Fund3 - Investor Shares Advisers: Aristotle Capital Management, LLC; Hotchkis and Wiley Capital Management, LLC; Lazard Asset Management LLC; and Sanders Capital, LLC	0.32%	0.25%	0.57%	14.21%	12.10%	10.35%

Type	Fund - Share Class Adviser/Sub-Adviser1	Current Expenses	Platform Charge6	Current Expenses + Platform Charge	Average Annual Total Returns (as of Dec. 31, 2024)
					1 Year	5 Year	10 Year (or life of fund)
Fixed Income	Core Bond Fund2 Adviser: VALIC Sub-Advisers: PineBridge Investments LLC and JPMIM	0.48%	None	0.48%	1.69%	0.04%	1.59%
	Goldman Sachs VIT Government Money Market Fund5 - Institutional Shares Adviser: Goldman Sachs	0.18%	None	0.18%	5.17%	2.42%	1.70%
	Government Securities Fund2 Adviser: VALIC Sub-Adviser: JPMIM	0.60%	None	0.60%	1.14%	-0.50%	0.84%
	High Yield Bond Fund2, 5 Adviser: VALIC Sub-Adviser: Wellington Management	0.68%	None	0.68%	6.52%	3.69%	4.58%
	Inflation Protected Fund2, 5 Adviser: VALIC Sub-Adviser: Wellington Management	0.59%	None	0.59%	1.18%	1.59%	1.95%
	International Government Bond Fund2 Adviser: VALIC Sub-Adviser: PineBridge	0.81%	None	0.81%	-1.00%	-1.82%	0.41%
	Vanguard Long-Term Investment-Grade Fund3 - Investor Shares Advisers: Wellington Management and Vanguard	0.21%	None	0.21%	-2.80%	-2.31%	1.75%
	Vanguard Long-Term Treasury Fund3 - Investor Shares Adviser: Vanguard	0.20%	None	0.20%	-6.41%	-5.16%	-0.73%

* Average Annual Total Returns is since inception of the Fund.

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

2 A VALIC Company I Fund.

3 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 Mutual Funds 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.

4 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.

5 This Fund is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Fund prospectus for additional information.

6 A Platform Charge may only be increased to the extent that the Base Contract Expense plus the Platform Charge does not exceed 0.85%.

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.

* * *

This summary prospectus incorporates by reference the prospectus and Statement of Additional Information (SAI) for the Contract, both dated April 28, 2025, as may be amended or supplemented from time to time. The SAI may be obtained free of charge in the same manner as the prospectus. 

EDGAR Contract Identifier: C000242995