Form 497VPSUB SEPARATE ACCOUNT B OF
Tweet
Share
E-mail
Venerable Insurance and Annuity Company
and the following variable annuities supported by its Separate Account B:
GOLDENSELECT LANDMARK®
GOLDENSELECT ACCESS®
GOLDENSELECT ESII®
Prospectus and Updating Summary Prospectus Supplement Dated July 10, 2025
This supplement updates the most recent Prospectus and Updating Summary Prospectus (“USP”) for your variable annuity Contract and subsequent supplements thereto. Please read it carefully and keep it with your copy of the Prospectus and USP for future reference.
______________________________________________________________________________
NOTICE OF AND IMPORTANT INFORMATION ABOUT UPCOMING FUND SUBSTITUTIONS
Pursuant to the terms of your variable annuity Contract and consistent with the terms and conditions of the U.S. Securities and Exchange Commission’s (“SEC”) statement on insurance product fund substitutions, Venerable Insurance and Annuity Company (the “Company”) and its Separate Account B (the “Separate Account”) intend to replace, effective on or about the close of business on the dates indicated below (each a “Substitution Date”), the following “Existing Funds” with the corresponding “Replacement Funds”:
●
On or about September 5, 2025:
|
Existing Fund
|
Replacement Fund
|
|
Voya Retirement Aggressive Portfolio – Class ADV
|
Venerable Appreciation Allocation Fund – Class V
|
|
Voya Retirement Conservative Portfolio – Class ADV
|
Venerable Conservative Allocation Fund – Class V
|
|
Voya Retirement Moderate Portfolio – Class ADV
|
Venerable Conservative Appreciation Allocation Fund – Class V
|
|
Voya Retirement Moderately Aggressive Portfolio – Class ADV
|
Venerable Moderate Appreciation Allocation Fund – Class V
|
|
Voya Solution Moderately Aggressive Portfolio – Class S
|
Venerable World Appreciation Allocation Fund – Class V
|
|
Voya Balanced Income Portfolio – Classes S and S2
|
Venerable World Conservative Allocation Fund – Class V
|
|
BlackRock Global Allocation V.I. Fund – Class III
|
Venerable World Moderate Allocation Fund – Class V
|
|
Voya Global Perspectives Portfolio – Class ADV
|
●
On or about September 12, 2025:
|
Existing Fund
|
Replacement Fund
|
|
Voya U.S. Bond Index Portfolio – Class S
|
Venerable Bond Index Fund – Class V
|
|
VY JP Morgan Emerging Markets Equity Portfolio – Classes S and S2
|
Venerable Emerging Markets Equity Fund – Class V
|
|
ProFund VP Europe 30
|
Venerable International Index Fund – Class V
|
|
Voya International Index Portfolio – Classes S and ADV
|
|
|
Voya Index Plus MidCap Portfolio – Class S
|
Venerable Mid Cap Index Fund – Class V
|
|
Voya Russell Mid Cap Growth Index Portfolio – Class S
|
|
|
Voya Russell Mid Cap Index Portfolio – Class S
|
|
|
VY JPMorgan Mid Cap Value Portfolio – Class S
|
|
Existing Fund
|
Replacement Fund
|
|
Voya Index Plus SmallCap Portfolio – Class S
|
Venerable Small Cap Index Fund – Class V
|
|
Voya Russell Small Cap Index Portfolio – Class S
|
|
|
Columbia VP Small Cap Value Fund – Class 2
|
Venerable US Small Cap Fund – Class V
|
|
Voya SmallCap Opportunities Portfolio – Class S
|
|
|
Voya Small Company Portfolio – Class S
|
|
|
VY Columbia Small Cap Value II Portfolio – Class S
|
|
|
Voya Global High Dividend Low Volatility Portfolio – Class S
|
Venerable World Equity Fund – Class V
|
|
Voya Global Insights Portfolio – Class S
|
|
|
VY Morgan Stanley Global Franchise Portfolio – Classes S and S2
|
These fund substitutions will only affect you if you currently invest in or plan to invest in a subaccount that corresponds to an Existing Fund.
The following lists important information regarding the fund substitutions:
|
|
Voluntary Transfers before the Substitution Date. Prior to the Substitution Date and for thirty days thereafter you may transfer amounts allocated to the subaccount that invests in an Existing Fund to any other available subaccount or to any available fixed interest option free of charge, and any such transfer will not count as a transfer when imposing any applicable restrictions or limits on transfers (other than restrictions related to frequent or disruptive transfers);
|
|
|
On the Substitution Date. On the Substitution Date, your investment in the subaccount that invests in an Existing Fund will automatically become an investment in the subaccount that invests in the corresponding Replacement Fund with an equal total net asset value;
|
|
|
No Fees, Charges, or Taxes. You will not incur any fees or charges or any tax liability because of the substitutions, and your Contract Value immediately before the substitutions will equal your Contract Value immediately after the substitutions;
|
|
|
Fund Fees and Expenses. The overall fees and expenses of each Replacement Fund are equal to or less than those of the corresponding Exiting Fund. Each Replacement Fund’s fees and expenses, investment objective and information about its investment adviser/subadviser are more fully described in the Replacement Fund’s summary prospectus;
|
|
|
Replacement Funds’ Summary Prospectuses. The Prospectuses for each Replacement Fund are available online at https://docs.venerable.com by selecting your Contract and then the applicable Replacement Fund from the drop-down menus. Read the Replacement Funds’ prospectuses carefully before deciding what to do with amounts allocated to subaccounts that invest in the Existing Funds that correspond to the Replacement Funds. If you have not received or have access to a Replacement Fund’s summary prospectus or need to request another, please contact Customer Service at 1-800-366-0066 or send an email request to [email protected];
|
|
|
Allocations after the Substitution Date. Unless you provide us with alternative allocation instructions, after the Substitution Date all allocations directed to the subaccount that invests in an Existing Fund will be automatically allocated to the subaccount that invests in the corresponding Replacement Fund. You may give us alternative allocation instructions at any time by contacting Customer Service at P.O. Box 9271, Des Moines, Iowa 50306-9271 or calling (800) 366-0066; and
|
|
|
Existing Funds no longer Available. After the Substitution Date, the Existing Funds will no longer be available through the Contract and there will be no further disclosure regarding them in any future Contract Prospectus or USP.
|
NOTICE OF THE UPCOMING FUND ADDITIONS
In connection with these upcoming fund substitutions, subaccounts that invest in the Replacement Funds will be available under your Contract for new premiums and transfers of Contract Value beginning on the dates indicated below. Information about each Replacement Fund is shown below and was included in Appendix A of your most recent prospectus and USP. The Replacement Funds are new and consequently do not yet have actual performance information.
|
Investment Objective
|
Fund Name
Investment Adviser/Subadviser
|
Current Expenses
|
Date Available for Investment
|
|
Seeks high long term capital appreciation.
|
Venerable Appreciation Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
0.84%
|
September 5, 2025
|
|
Seeks to replicate the performance of a benchmark index that measures investment grade bonds traded in the U.S. as closely as possible before the deduction of Fund expenses.
|
Venerable Bond Index Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Franklin Advisers, Inc.
|
(Class V)
0.61%1
|
September 12, 2025
|
|
Seeks, over the long term, current income and a modest level of total investment return consistent with the preservation of capital.
|
Venerable Conservative Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
0.85%
|
September 5, 2025
|
|
Seeks, over the long term, current income and a moderate level of total investment return.
|
Venerable Conservative Appreciation Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
0.85%
|
September 5, 2025
|
|
Seeks to provide long term capital growth.
|
Venerable Emerging Markets Equity Fund
Investment Adviser: Veneable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
Non-Discretionary Sub-Advisers: Axiom Investors LLC, Barrow, Hanley, Mewhinney & Strauss LLC, Numeric Investors LLC, Oaktree Fund Advisors, LLC, Pzena Investment Management, LLC, Sands Capital Management, LLC
|
Class V
1.44%1
|
September 12, 2025
|
_________________
1
Current Expenses are each Fund’s total net annual operating expenses and reflect any temporary expense reimbursements or fee waiver arrangement that are in place and reported in the Fund’s prospectus. Current Expenses would be higher if these temporary expense reimbursements/waivers were not reflected. Also note that the Current Expenses reflect only the fees and expenses of the Funds and not the Contract fees and expenses.
|
Investment Objective
|
Fund Name
Investment Adviser/Subadviser
|
Current Expenses
|
Date Available for Investment
|
|
Seeks to replicate the performance of a benchmark index that measures the investment return of international developed markets stocks as closely as possible before deduction of Fund expenses.
|
Venerable International Index Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
|
(Class V)
0.71%1
|
September 12, 2025
|
|
Seeks to replicate the performance of a benchmark index that measures the investment return of mid capitalization stocks as closely as possible before deduction of Fund expenses.
|
Venerable Mid Cap Index Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
|
(Class V)
0.65%1
|
September 12, 2025
|
|
Seeks moderate long term capital appreciation and as a secondary objective, current income.
|
Venerable Moderate Appreciation Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
0.84%
|
September 5, 2025
|
|
Seeks to replicate the performance of a benchmark index that measures the investment return of small capitalization stocks as closely as possible before deduction of Fund expenses.
|
Venerable Small Cap Index Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
|
(Class V)
0.70%1
|
September 12, 2025
|
|
Seeks to provide long term capital growth.
|
Venerable US Small Cap Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Franklin Advisers, Inc.
|
(Class V)
0.85%1
|
September 12, 2025
|
|
Seeks, over the long term, current income and a moderate level of total investment return.
|
Venerable World Appreciation Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
1.01%1
|
September 5, 2025
|
|
Investment Objective
|
Fund Name
Investment Adviser/Subadviser
|
Current Expenses
|
Date Available for Investment
|
|
Seeks high long term capital appreciation.
|
Venerable World Conservative Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
0.86%1
|
September 5, 2025
|
|
Seeks to provide long term capital growth.
|
Venerable World Equity Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
Non-Discretionary Sub-Advisers: Intermede Global Partners Inc., Intermede Investments Partners Limited, Numeric Investors LLC, Sanders Capital, LLC, Wellington Management Company LLP
|
(Class V)
0.85%1
|
September 12, 2025
|
|
Seeks moderate long term capital appreciation and as a secondary objective, current income.
|
Venerable World Moderate Allocation Fund
Investment Adviser: Venerable Investment Advisers, LLC
Discretionary Sub-Adviser: Russell Investment Management, LLC
A Fund of Funds.
|
(Class V)
1.02%1
|
September 5, 2025
|
Effective on the applicable Substitution Date, the following information replaces the information about “Accepted Funds and Fixed Allocation Funds for Living Benefit Riders” at the end of Appendix A in your prospectus and USP:
Accepted Funds and Fixed Allocation Funds for Living Benefit Riders
Accepted Funds. Currently, the Accepted Funds are:
|
Fixed Interest Allocation
|
Venerable Moderate Appreciation Allocation Fund
|
|
Venerable Appreciation Allocation Fund
|
Venerable Moderate Allocation Fund
|
|
Venerable Conservative Allocation Fund
|
Venerable World Moderate Allocation Fund
|
|
Venerable Conservative Appreciation Allocation Fund
|
Voya Government Liquid Assets Portfolio
|
For MGIB, LifePay, Joint LifePay, LifePay Plus and Joint LifePay Plus riders purchased before January 12, 2009; the following are additional Accepted Funds:
|
Venerable World Appreciation Allocation Fund
|
|
Effective on the September 12, 2025 Substitution Date, the Voya Global High Dividend Low Volatility Portfolio is being replaced by the Venerable World Equity Fund, and the Venerable World Equity Fund will not be classified as an Accepted Fund like the Voya Global High Dividend Low Volatility Portfolio was.
Currently, the Accepted Funds for the Income Optimizer are:
|
Fixed Interest Allocation
|
Venerable Moderate Allocation Fund
|
|
Venerable Appreciation Allocation Fund
|
Venerable Moderate Appreciation Allocation Fund
|
|
Venerable Conservative Allocation Fund
|
Venerable World Moderate Allocation Fund
|
|
Venerable Conservative Appreciation Allocation Fund
|
Voya Government Liquid Assets Portfolio
|
Fixed Allocation Funds. Currently, the Fixed Allocation Funds are:
|
Venerable Bond Index Fund
|
Voya Inflation Protected Bond Plus Portfolio
|
|
Venerable Strategic Bond Fund
|
|
See “OPTIONAL LIVING BENEFIT RIDERS” in the prospectus for more information.
MORE INFORMATION IS AVAILABLE
More information about the Funds available through your Contract, including information about the risks associated with investing in them, can be found in the current prospectus and Statement of Additional Information for each Fund. You may view these documents online at https://docs.venerable.com or get copies by contacting:
Customer Service
P.O. Box 9271
Des Moines, Iowa 50306-9271
(800) 366-0066
If you received a summary prospectus for any of the Funds available through your Contract, you may obtain a full prospectus and other Fund information free of charge by either accessing the internet address, calling the telephone number or sending an email request to the contact information shown on the front of the Fund’s summary prospectus.
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 10/26/2026
- Equities end higher as Anthropic's IPO filing buoys AI stocks
- Anthropic files for Nasdaq IPO as revenue jumps to $16.3 billion
- Meta reverses losses to rise as investors weigh $35 billion AI funding plan
- Post-election relief ahead for markets, says Morgan Stanley
- Musk says SpaceX raised $40 billion in debt, warns of neocloud collapse
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Elemental Royalty Announces First Close of Royalty and Streaming Portfolio Alongside Upsized US$250M Credit Facility
- PPC Audit Pro Highlights Google Ads Expertise and PPC Audit Services for Local Businesses
- Five Star Bancorp Announces Third Quarter 2026 Results
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
