As filed with the Securities and Exchange Commission on May10, 2021

Registration Nos. 333-194044; 811-08183

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

Pre-Effective Amendment No. ( )
Post-Effective Amendment No. 12  (X)

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 68 (X)

VARIABLE ANNUITY-1 SERIES ACCOUNT
(Exact Name of Registrant)

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK
(Name of Depositor)

370 Lexington Avenue, Suite 703
New York, New York 10017
(Address of Depositor’s Principal Executive Offices)

(800) 537-2033
(Depositor’s Telephone Number)

Andra S. Bolotin
President and Chief Executive Officer
Great-West Life & Annuity Insurance Company of New York
370 Lexington Avenue, Suite 703
New York, New York 10017
(Name and Address of Agent for Service)

Copy to:
Ann B. Furman, Esq.
Carlton Fields, P.A.
1025 Thomas Jefferson Street, N.W., Suite 400 West
Washington, D.C. 20007-5208

Approximate date of proposed public offering: Continuous

It is proposed that this filing will become effective (check appropriate box) 

x	immediately upon filing pursuant to paragraph (b) of Rule 485
	on (date), pursuant to paragraph (b) of Rule 485
	60 days after filing, pursuant to paragraph (a)(1) of Rule 485
	on (date), pursuant to paragraph (a)(1) of Rule 485

If appropriate, check the following box: 

this post-effective amendment designates a new effective date for a previously filed post-

effective amendment.

Title of Securities Being Registered: Flexible Premium Deferred Variable Annuity Contracts

SCHWAB ONESOURCE CHOICE VARIABLE ANNUITYTM
An individual flexible premium variable annuity
Issued by
Great-West Life & Annuity Insurance Company of New York

Internet Delivery of Shareholder Reports:As permitted by regulations adopted by the Securities and Exchange Commission (“SEC”), paper copies of the Fund's annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’s website ( https://www.greatwestinvestments.com ), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from your financial intermediary electronically by contacting your financial intermediary.

You may elect to receive all future reports in paper free of charge. You can call (866)345-5954 or make elections online at https://www.fundreports.com to let your financial intermediary know you wish to continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account.

Overview

This Prospectus describes the Schwab OneSource Choice Variable Annuity (the “Contract”), an individual flexible premium variable annuity contract that allows you to accumulate assets on a tax-deferred basis for retirement or other long-term purposes. Effective December 14, 2020, this Contract is no longer issued to new purchasers. Even though the Contract is no longer offered for sale, you may make additional Contributions as permitted under your Contract prior to December 14, 2020. Great-West Life & Annuity Insurance Company of New York (“we,” “us,” or “Great-West”) issued the Contract to eligible persons in the state of New York.

The Contract may be owned by one or two individuals. A Contract may also be owned by a Grantor Trust that exists for one individual Grantor or two individual Grantors who are each other’s spouse, or by a Non-Grantor Trust (See “Definitions” below for definitions of capitalized terms).

When you contribute money to the Schwab OneSource Choice Variable Annuity, you decide how to allocate your money among the various investment options available through Variable Annuity-1 Series Account (the “Series Account”). The Series Account consists of two segments: the Investment Segment (relating to the base Contract) and the Income Segment (relating to an optional Guaranteed Lifetime Withdrawal Benefit Rider). We hold the assets for each investment option in a corresponding Sub-Account of the Series Account. Each Sub-Account, in turn, invests in a Portfolio under the Investment Segment or a Covered Fund under the Income Segment.

The date of this Prospectus is May 10, 2021.

The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of

this Prospectus. Any representation to the contrary is a criminal offense.

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Investment Segment Portfolios:

AB VPS Growth and Income Portfolio (Class A Shares)

AB VPS Large Cap Growth Portfolio (Class A Shares)

AB VPS Small/Mid Cap Value Portfolio (Class A Shares)

Alger Capital Appreciation Portfolio (Class I-2 Shares)

ALPS|Red Rocks Global Opportunity Portfolio (Class I Shares)

American Century Investments® VP Balanced Fund (Class I Shares)

American Century Investments® VP Disciplined Core Value Fund (formerly American Century Investments Income & Growth Fund) (Class I Shares)

American Century Investments® VP International Fund (Class I Shares)

American Century Investments® VP Mid Cap Value Fund (Class II Shares)

American Century Investments® VP Value Fund (Class I Shares)

American Funds IS Capital World Bond Fund (Class 2 Shares)

American Funds IS Global Small Capitalization Fund (Class 2 Shares)

American Funds IS Growth-Income Fund (Class 4 Shares)

American Funds IS New World Fund® (Class 2 Shares)

American Funds IS The Bond Fund of America (formerly American Funds IS Bond Fund) (Class 2 Shares)

BlackRock 60/40 Target Allocation ETF V.I. Fund (Class III Shares)

BlackRock Global Allocation V.I. Fund (Class I Shares)

BNY Mellon IP MidCap Stock Portfolio (Initial Shares)*

BNY Mellon VIF Growth and Income Portfolio (Initial Shares)*

ClearBridge Variable Large Cap Growth Portfolio (Class I Shares)

ClearBridge Variable Mid Cap Portfolio (Class I Shares)

ClearBridge Variable Small Cap Growth Portfolio (Class I Shares)

Columbia Variable Portfolio - Emerging Markets Fund (Class 2 Shares)

Columbia Variable Portfolio - Large Cap Growth Fund (Class 2 Shares)

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

Columbia Variable Portfolio - Small Cap Value (Class 2 Shares)

Delaware VIP® Emerging Markets Series (Standard Class Shares)

Delaware VIP® International Series (Standard Class Shares)

Delaware VIP® Small Cap Value Series (Standard Class Shares)

DWS Capital Growth VIP (Class A Shares)

DWS Core Equity VIP (Class A Shares)

DWS Global Small Cap VIP (Class A Shares)*

DWS Small Cap Index VIP (Class A Shares)

DWS Small Mid Cap Growth VIP (Class A Shares)*

Federated Hermes Fund for U.S. Government Securities II

Franklin Small Cap Value VIP Fund (Class 2 Shares)

Great-West Aggressive Profile Fund (Investor Class Shares)

Great-West Bond Index Fund (Investor Class Shares)

Great-West Conservative Profile Fund (Investor Class Shares)

Great-West International Index Fund (Investor Class Shares)

Great-West International Value Fund (Investor Class Shares)

Great-West Lifetime 2015 Fund (Investor Class Shares)

Great-West Lifetime 2020 Fund (Investor Class Shares)

Great-West Lifetime 2025 Fund (Investor Class Shares)

Great-West Lifetime 2030 Fund (Investor Class Shares)

Great-West Lifetime 2035 Fund (Investor Class Shares)

Great-West Lifetime 2040 Fund (Investor Class Shares)

Great-West Lifetime 2045 Fund (Investor Class Shares)

Great-West Lifetime 2050 Fund (Investor Class Shares)

Great-West Lifetime 2055 Fund (Investor Class Shares)

Great-West Lifetime 2060 Fund (Investor Class Shares)

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Great-West Mid Cap Value Fund (Investor Class Shares)

Great-West Moderate Profile Fund (Investor Class Shares)

Great-West Moderately Aggressive Profile Fund (Investor Class Shares)

Great-West Moderately Conservative Profile Fund (Investor Class Shares)

Great-West Multi-Sector Bond Fund (Investor Class Shares)

Great-West Real Estate Index Fund (Investor Class Shares)

Great-West SmallCap Value Fund(formerly Great-West Loomis Sayles Small Cap Value Fund) (Investor Class Shares)

Great-West T. Rowe Price Mid Cap Growth Fund (Investor ClassShares)

Invesco Oppenheimer V.I. International Growth Fund (Series I Shares)*

Invesco V.I. Comstock Fund (Series I Shares)

Invesco V.I. Global Fund (formerly Invesco Oppenheimer V.I. Global Fund) (Series I Shares)

Invesco V.I. Growth and Income Fund (Series I Shares)*

Invesco V.I. High Yield Fund (Series I Shares)

Invesco V.I. International Growth Fund (Series I Shares)*

Invesco V.I. Main Street Small Cap Fund® (formerly Invesco Oppenheimer V.I. Main Street Small Cap Fund®) (Series I Shares)

Invesco V.I. Small Cap Equity Fund (Series I Shares)*

Ivy VIP International Core Equity (Class II Shares)*

Janus Henderson Balanced Portfolio (Service Shares)

Janus Henderson Flexible Bond Portfolio (Service Shares)

Janus Henderson Global Research Portfolio (Institutional Shares)

Janus Henderson Global Technology and Innovation Portfolio (InstitutionalShares)

JPMorgan Insurance Trust Core Bond Portfolio (Class 1 Shares)

JPMorgan Insurance Trust Small Cap Core Portfolio (Class 1 Shares)

Lazard Retirement Emerging Markets Equity Portfolio (Service Shares)

Lord Abbett Series Fund Short Duration Income Portfolio (Class VC Shares)

LVIP Baron Growth Opportunities Fund (Service Class Shares)

LVIP Delaware SMID Cap Core Fund (Standard Class Shares)

LVIP Delaware Value Fund (Standard Class Shares)

MFS® VIT Utilities Series (Service Class Shares)*

MFS® VIT II Core Equity Portfolio (Service Class Shares)

MFS® VIT II International Growth Portfolio (Initial Class Shares)

MFS® VIT II International Intrinsic Value Portfolio (Service Class Shares)

MFS® VIT III Blended Research® Small Cap Equity Portfolio (Initial Class Shares)

MFS® VIT III Mid Cap Value Portfolio (Initial Class Shares)

Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio (Class S Shares)*

NVIT Mid Cap Index Fund (Class II Shares)

PIMCO VIT CommodityRealReturn® Strategy Portfolio (Administrative Class Shares)

PIMCO VIT Emerging Markets Bond Portfolio (Administrative Class Shares)

PIMCO VIT High Yield Portfolio (Administrative Class Shares)

PIMCO VIT Low Duration Portfolio (Administrative Class Shares)

PIMCO VIT Real Return Portfolio (Administrative Class Shares)

PIMCO VIT Total Return Portfolio (Administrative Class Shares)

Pioneer Bond VCT Portfolio (Class I Shares)

Pioneer Fund VCT Portfolio (Class I Shares)

Pioneer Select Mid Cap Growth VCT Portfolio (Class I Shares)

Putnam VT Global Asset Allocation Fund (Class IA Shares)

Putnam VT Income Fund (Class IA Shares)

Putnam VT International Equity Fund (Class IA Shares)

Putnam VT International Value Fund (Class IA Shares)

Putnam VT Large Cap Value Fund (formerly Putnam VT Equity Income Fund) (Class IB Shares)

Putnam VT Mortgage Securities Fund (Class IB Shares)

Putnam VT Multi-Cap Core Fund (Class IA Shares)

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Putnam VT Small Cap Value Fund (Class IA Shares)

Schwab Government Money Market PortfolioTM

Schwab® S&P 500 Index Portfolio

T. Rowe Price Health Sciences Portfolio (Portfolio-II Class Shares)

Templeton Foreign VIP Fund (Class 2 Shares)*

Templeton Global Bond VIP Fund (Class 2 Shares)

Touchstone Bond Fund*

Touchstone Common Stock Fund*

Touchstone Small Company Fund

VanEck VIP Global Resources Fund (formerly VanEck VIP Global Hard Assets Fund) (S Class Shares)

Wells Fargo VT Discovery Fund (Class 2 Shares)

Wells Fargo VT Omega Growth Fund (Class 2 Shares)

Income Segment Covered Funds (for Contracts with the Guaranteed Lifetime Withdrawal Benefit Rider):

Great-West Conservative Profile Fund (Investor Class Shares)

Great-West Moderate Profile Fund (Investor Class Shares)

Great-West Moderately Conservative Profile Fund (Investor Class Shares)

Great-West SecureFoundation® Balanced Fund (Investor Class Shares)

The Contract currently offers four Covered Funds. Great-West may make additional or fewer Covered Funds available to Contract Owners in the future.

* The Sub-Account investing in this Portfolio is closed to new Contributions and incoming Transfers (including Automatic

Custom Transfers).

This Prospectus provides important information about the Series Account and investment options that you should know before purchasing the Schwab OneSource Choice Variable Annuity, including a description of the material rights and obligations under the Contract. It is important that you read the Contract, riders, and any amendments and endorsements. Please read this Prospectus carefully and keep it on file for future reference. We offer other variable annuity products with different product features, benefits and charges.

If you acquired your Contract before May 1, 2019, certain features described in this Prospectus may not be available under your existing Contract. If you are interested in a feature that is not available, please contact the Service Center at the toll free number below for more information.

You can find more detailed information pertaining to the Series Account in the Statement of Additional Information (“SAI”) dated May 10, 2021 (as may be amended from time to time), which has been filed with the SEC and is available upon written or oral request. The SAI is incorporated by reference into this Prospectus as a matter of law, which means it is legally a part of this Prospectus. You can find the SAI’s table of contents on the last page of this Prospectus. You may obtain a copy of the SAI without charge by contacting the Service Center at the address or phone number listed below. Or, you can obtain it by visiting the SEC’s website at www.sec.gov. This website also contains material incorporated by reference and other information about the Series Account that has been filed electronically with the SEC.

The Contract is not a deposit or obligation of, or insured, guaranteed or endorsed by, any bank, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. The Contract involves certain investment risks, including possible loss of principal.

For account information, please contact:

Service Center

Regular Mail
P.O. Box 1854
Birmingham, Alabama 35201-1854

Overnight Mail

2801 Highway 280 South

Birmingham, Alabama 35223

(800) 838-0650

This Prospectus does not constitute an offering in any jurisdiction in which such offering may not be lawfully made. No dealer,

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salesperson or other person is authorized to give any information or make any representations in connection with the Contract other than those contained in this Prospectus, and, if given or made, such other information or representations must not be relied on.

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TABLE OF CONTENTS 

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Appendix A – Condensed Financial Information	A-1
Appendix B - Net Investment Factor	B-1
Appendix C - Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements	C-1

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Definitions

1035 Exchange – A tax-free exchange of certain types of insurance contracts, as allowed by a provision of the Code.

Accumulation Period –The time period between the Effective Date and the earlier of the Payout Election Date or the Annuity Commencement Date. During this period, you are contributing to the annuity.

Accumulation Unit –An accounting measure used to determine the Annuity Account Value before the date annuity payouts commence.

Alternate Payee –Any Spouse or former Spouse of an Owner who has the right pursuant to a Decree to receive all or a portion of the benefit payable under the Contract with respect to such Owner.

Annuitant (Joint Annuitant) – The person named in the application upon whose life the payout of an annuity is based and who will receive annuity payouts. The Annuitant will be the Owner unless otherwise indicated in the application. If you select a Joint Annuitant, “Annuitant” means the older Joint Annuitant or the sole surviving Joint Annuitant, unless otherwise stated. Joint Annuitants must be one another’s Spouse as of the Effective Date. If you name a Contingent Annuitant, the Annuitant will be considered the “Primary Annuitant.” If a Grantor Trust owns the Contract, the Grantor will be the Annuitant unless otherwise indicated in the application. If a Non-Grantor Trust owns the Contract, the grantor will be the Annuitant unless otherwise indicated in the application. If a Non-Grantor Trust owns the Contract, no Contingent Annuitant may be named and the Annuitant will be considered the Primary Annuitant.

Annuity Account –An account we establish in your name that reflects the Owner’s interests in the Sub-Accounts in both the Investment Segment and the Income Segment.

Schwab OneSource Choice Variable Annuity Structure

 

Your Total Annuity Account can be made up of both the Investment Segment and the Income Segment

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Annuity Account Value –The sum of the value of each Sub-Account you have selected in both the Investment Segment and Income Segment. The Annuity Account Value is credited with a return based upon the investment experience of the Sub-Account(s) selected by you and will increase and decrease accordingly.

Annuity Commencement Date –The date annuity payouts begin, which is either the Payout Election Date or the Annuitant’s 99th birthday if no Payout Election Date has been established. You may change the Annuity Commencement Date if annuity payouts have not already begun. Upon death of the Owner, the Beneficiary may change the Annuity Commencement Date only if the Beneficiary is the Owner’s surviving Spouse and elects to continue the Contract. The Annuity Commencement Date must occur prior to or on the Annuitant’s 99th birthday.

Annuity Payout Period –The period beginning on the Annuity Commencement Date and continuing until all annuity payouts have been made under the Contract. During this period, the Annuitant receives payouts from the annuity.

Annuity Unit –An accounting measure we use to determine the amount of any variable annuity payout after the first annuity payout is made.

Attained Age –During the Guaranteed Annual Withdrawal Phase, the age of the Covered Person (or the age of the younger Joint Covered Person) on the Ratchet Date.

Automatic Bank Draft Plan – A feature, if made available by Great-West, that allows you to make automatic periodic Contributions. Contributions will be withdrawn from an account you specify and automatically credited to your Annuity Account.

Beneficiary –The person(s) designated by the Owner to receive any Death Benefit under the terms of the Contract. If the surviving Spouse of an Owner is the surviving Joint Owner, the surviving Spouse will be deemed to be the Beneficiary upon such Owner’s death and may take the death benefit or elect to continue this Contract in force.

Benefit Base –For purposes of the GLWB Rider, the amount that is multiplied by the Guaranteed Annual Withdrawal Percentage to calculate the Guaranteed Annual Withdrawal. The Benefit Base increases dollar-for-dollar upon any GLWB Rider Contribution and is reduced proportionately for any Excess Withdrawal. The Benefit Base can also increase with positive Covered Fund performance on the Ratchet Date and may also be adjusted on the Ratchet Date. The Benefit Base may not exceed $5 million. Any Covered Fund Value over $5 million will be considered excess Covered Fund Value and will not be used to calculate Guaranteed Annual Withdrawals.

Business Day –Any day, and during the hours, on which the New York Stock Exchange is open for trading. If a date falls on a non-Business Day, the following Business Day will be used unless otherwise stated in the Prospectus.

Code –The Internal Revenue Code of 1986, as amended, and all related laws and regulations which are currently in effect.

Contingent Annuitant –The person you may name in the application who becomes the Annuitant when the Primary Annuitant dies. The Contingent Annuitant must be designated before the death of the Primary Annuitant and before annuity payouts have begun. If a Non-Grantor Trust owns the Contract, no Contingent Annuitant may be named.

Contingent Beneficiary –The person you may designate to become the Beneficiary when the primary Beneficiary dies.

Contributions –Amounts of money you invest or deposit into your Annuity Account.

Covered Funds –Interests in Sub-Account(s) designated for the Income Segment.

•Great-West Conservative Profile Fund – Investor Class Shares

•Great-West Moderate Profile Fund – Investor Class Shares

•Great-West Moderately-Conservative Profile Fund – Investor Class Shares

•Great-West SecureFoundation® Balanced Fund – Investor Class Shares

•Any other Portfolio we approve for the GLWB

Covered Fund Value –The aggregate value of each Covered Fund.

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Covered Person(s) – For purposes of the GLWB Rider, the person(s) whose age determines the Guaranteed Annual Withdrawal Percentage and on whose life the Guaranteed Annual Withdrawal Amount will be based. If there are two Covered Persons, the Guaranteed Annual Withdrawal Percentage will be based on the age of the younger life and the Installments can continue until the death of the second life. If a natural person owns the Contract, the Owner of the Contract must be a Covered Person. If a Grantor Trust owns the Contract, the Grantor(s) must be the sole Covered Person(s). A Joint Covered Person must be the Owner’s Spouse and (i) a Joint Owner; or (ii) the 100% primary Beneficiary under the Contract. If a Non-Grantor Trust owns the Contract, the Covered Person, if any, must be the Annuitant.

Death Benefit –The amount payable to the Beneficiary when the Owner or the Annuitant dies, as applicable.

Decree –A divorce or separation instrument, as defined in Section 71(b)(2) of the Code, that creates or recognizes the existence of an Alternate Payee’s right to, or assigns to an Alternate Payee the right to receive all or a portion of the benefits payable with respect to an Owner that Great-West accepts and approves, except as otherwise agreed.

Distributions –Amounts paid from a Covered Fund, including but not limited to partial and systematic withdrawals.

Effective Date –The date on which the first Contribution is credited to your Annuity Account.

Eligible Designated Beneficiary (EDB) -- is a designated Beneficiary that also meets the requirements defined in Code Section 401(a)(9)(E)(ii). An EDB includes: (i) the surviving spouse of the Owner; (ii) a minor child (until they reach the age of majority); (iii) a disabled person (within the meaning of Code section 72(m)(7)); (iv) a chronically ill person; or (v) an individual who is not more than 10 years younger than the owner. A beneficiary’s status as an EDB is determined on the date of the owner’s death.

Excess Withdrawal – An amount either distributed or transferred from the Covered Funds during the GLWB Accumulation Phase or any amount combined with all other amounts that exceed the annual GAW during the GAW Phase that reduces your Benefit Base. The Guarantee Benefit Fee and the M&E Charge shall not be treated as a Distribution or Excess Withdrawal for this purpose.

GAW Payment Date –The GAW Payment Date is the day of the month on which Installments are paid.

Guarantee Benefit Fee –The fee associated with the Income Segment and GLWB Rider. The Guarantee Benefit Fee also is sometimes referred to as the GLWB Rider Fee. For Contract applications signed before May 1, 2017, the Guarantee Benefit Fee is based on a percentage of Covered Fund Value. For Contract applications signed on or after May 1, 2017, the Guarantee Benefit Fee is based on a percentage of the Benefit Base.

Guaranteed Annual Withdrawal (GAW) – For purposes of the GLWB Rider, the annualized withdrawal amount that we guarantee for the lifetime of the Covered Person(s).

Guaranteed Annual Withdrawal Percentage (GAW%) – The percentage of the Benefit Base that determines the amount of the GAW. The GAW% applicable to new Contract purchases is disclosed in a Rate Sheet Supplement to this Prospectus applicable on the date you signed the application to purchase the Contract. For the GAW% applicable to applications signed before December14, 2020, please see the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus.

Guaranteed Annual Withdrawal (GAW) Phase –The period of time between the Initial Installment Date and the first day of the GLWB Settlement Phase. The GAW Phase begins when you elect to begin taking GAW payments.

Guaranteed Lifetime Withdrawal Benefit (GLWB) – A payment option offered by the GLWB Rider that pays Installments during the life of the Covered Person(s). The Covered Person(s) will receive periodic payments in either monthly, quarterly, semiannual, or annual Installments that in total over a 12-month period equal the GAW, without causing an Excess Withdrawal.

GLWB Accumulation Phase –The period of time between the GLWB Rider Election Date and the Initial Installment Date.

GLWB Rider –The Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider issued to the Owner which specifies the benefits, rights, privileges, and obligations of the Owner and Great-West in the Income Segment, as modified by the Rate Sheet Supplement applicable on the date you signed the application to purchase the Contract. The GLWB Rider is initiated by allocating Contributions to the Income Segment Covered Funds. All guarantees are subject to the claims paying ability of Great-West. The GAW% and Joint GAW% applicable to new Contract purchases are disclosed in a Rate Sheet Supplement to this Prospectus applicable on the date you signed the

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application to purchase the Contract. For the GAW% and Joint GAW% applicable to applications signed before December14, 2020,please see the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus.

GLWB Rider Contributions –Owner-directed amounts received and allocated to the Owner’s Covered Funds in the Income Segment, including but not limited to Transfers from other assets in the Contract. If this Contract is a Qualified Annuity Contract, GLWB Rider Contributions may also include rollovers as defined under Section 402(c), 403(b)(8), 408(d)(3) and 457(e)(16) of the Code. Reinvested dividends, capital gains, and settlements arising from the Covered Funds will not be considered GLWB Rider Contributions for the purpose of calculating the Benefit Base but will affect the Covered Fund Value. We reserve the right to stop accepting GLWB Rider Contributions at any time and will provide the Owner with a 30 day notice.

GLWB Rider Election Date –The Business Day on which the Owner or Spouse Beneficiary elects the GLWB option in the GLWB Rider by allocating GLWB Rider Contributions to the Covered Fund(s). The GLWB Rider Election Date shall be the date upon which the Initial Benefit Base is calculated and before the Owner attains the age of 86 years old.

GLWB Settlement Phase –The period when the Covered Fund Value has reduced to zero, but the Benefit Base is still positive during which Installments will continue to be paid.

Grantor –The natural person who is treated under Sections 671 through 679 of the Code as owning the assets of a Grantor Trust. All Grantors must be individuals.

Grantor Trust –A permissible Contract ownership type that may be selected at Contract issue or later. A trust, the assets of which are treated under Sections 671 through 679 of the Code as being owned by the Grantor(s). We allow a Grantor Trust to be an Owner only if it either has a single Grantor who is a natural person, or has two Grantors who are one another’s Spouse as of the Effective Date.

Income Segment –Assets allocated to the Sub-Account(s) associated with the optional GLWB Rider attached to the Contract.

Income Segment Account Value –The sum of the values of the Sub-Accounts in the Income Segment credited to the Owner under the Annuity Account. The Income Segment Account Value is credited with a return based upon the investment experience of such Income Segment investment option(s) selected by the Owner and will increase or decrease accordingly.

Initial Calculation – The calculation used to determine the GAW% based on the age of the Covered Person(s) on the Initial Installment Date and dependent on the age(s) of the joint or single Covered Person(s).

Initial Installment Date –The date of the first Installment under the GLWB, which must be a Business Day.

Installments –Periodic payments of the GAW that in total over a year can equal up to the GAW without causing an Excess Withdrawal.

Investment Segment –Assets allocated to the Sub-Accounts not associated with the optional GLWB Rider attached to the Contract.

Investment Segment Account Value –The sum of the values of the Sub-Accounts in the Investment Segment credited to the Owner under the Annuity Account. The Investment Segment Account Value is credited with a return based upon the investment experience of such Investment Segment investment option(s) selected by the Owner and will increase or decrease accordingly.

Joint GAW% – The GAW% used with the GLWB Rider if there are two Covered Persons. The Joint GAW% applicable to new Contract purchases is disclosed in a Rate Sheet Supplement to this Prospectus applicable on the date you signed the application to purchase your Contract. For the GAW% and Joint GAW% applicable to applications signed before December14, 2020, please see the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus.

Mortality and Expense Risk Charge (M&E Charge) – An amount deducted from your Annuity Account Value at the end of each valuation period to compensate Great-West for bearing certain mortality and expense risks under the Contract.

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Non-Grantor Trust –A permissible Contract ownership type that may be selected at Contract issue or later. A trust in which the grantor has relinquished control over trust assets and in which trust assets do not form a part of the grantor’s estate. A Non-Grantor Trust must be issued a Tax Identification Number in order to qualify as Owner of the Contract. If a Non-Grantor Trust owns the Contract, the grantor will be the Annuitant unless otherwise indicated in the application, and the Owner (the Non-Grantor Trust) will at all times be the Beneficiary.

Non-Qualified Annuity Contract –An annuity Contract which is not intended to satisfy the requirements of Sections 408(b) (IRAs) or 408A (Roth IRAs) of the Code. We may issue this Contract as a Non-Qualified Annuity Contract.

Non-Qualified Stretch Annuity Contract – A permissible Contract ownership type that may be elected by a natural person Beneficiary only upon the death of the original Owner. This type of annuity Contract is not intended to satisfy the requirements of Section 408(b) (IRAs) or Section 408A (Roth IRAs) of the Code. The “Beneficial Owner” for a Contract held as a Non-Qualified Stretch Annuity is the natural person who is the designated Beneficiary of any Death Benefit proceeds as a result of the death of the original Contract Owner, and may not be a non-natural entity such as a Grantor Trust or Non-Grantor Trust. A “Successor Beneficiary”(defined below) may elect to receive his or her interest in a single sum or over the remaining distribution period initially selected by the Beneficial Owner, and cannot be a non-natural entity.

Owner (Joint Owner) or You –The person(s) named in the application who is entitled to exercise all rights and privileges under the Contract, while the Annuitant is living. Joint Owners must be one another’s Spouse as of the Effective Date and must both be natural persons. The Annuitant will be the Owner unless otherwise indicated in the application. If the Contract is intended to be held as a Qualified Annuity Contract, the Owner must be the Annuitant and a Joint Owner is not permitted. The Owner must be either a natural person, a Grantor Trust, or a Non-Grantor Trust. If the Owner is a Grantor Trust, all references to the life, age or death of the Owner shall pertain to the life, age or death of the Grantor(s). If the Owner is a Non-Grantor Trust, all references to the life, age, or death of the Owner pertain to the life, age, or death of the Annuitant, and where there are Joint Annuitants, shall pertain to the older Joint Annuitant. If there is a change of ownership of the Contract from a Non-Grantor Trust to a natural person, the original Annuitant and/or Joint Annuitant shall continue to determine any benefits under the Contract and GLWB Riders.

Payout Election Date –The date on which annuity payouts or periodic withdrawals begin from the Investment Segment. The Payout Election Date must occur before the Annuitant’s 99th birthday.

Portfolio –A registered management investment company, or portfolio or series thereof, in which the assets of the Series Account may be invested.

Premium Tax – A tax that a state or other governmental authority may assess at the time you make a Contribution, make withdrawals, or when annuity payments begin. The Premium Tax rate in New York for annuities is 0%, given the total mix of Great-West’s business in New York.

Qualified Annuity Contract –An annuity contract that is intended to qualify under Sections 408(b) (IRAs) or 408A (Roth IRAs) of the Code. We may issue this Contract as a Qualified Annuity Contract, in which case, under the Code, assignment of the Contract and GLWB Rider is not permitted.

Ratchet –For purposes of the GLWB Rider, an increase in the Benefit Base if the Covered Fund Value exceeds the current Benefit Base on the Ratchet Date.

Ratchet Date –During the GLWB Accumulation Phase, the Ratchet Date is the first anniversary of the Owner’s GLWB Rider Election Date and each anniversary thereafter. During the GAW Phase, the Ratchet Date is the Initial Installment Date and each anniversary thereafter. A Reset may also occur on the Ratchet Date during the GAW Phase. For Contract applications signed before May 1, 2017, if the anniversary is a non-Business Day, the Ratchet Date shall be the preceding Business Day for that year. For Contract applications signed on or after May 1, 2017, if the anniversary is a non-Business Day, the Ratchet Date shall be the following Business Day for the year.

Rate Sheet Supplement –Supplements to the Prospectus which we periodically filed with the SEC (prior to ceasing sales of the Contract) that detail and modify certain rates associated with the GLWB Rider for new Contract purchases. Rate Sheet Supplements will disclose the GAW%s and the Joint GAW%s for all GLWB Riders applicable for a specified range of dates. The terms of a Rate Sheet Supplement (including GAW%s, Joint GAW%s) with no specified end date may not be amended unless we provide a minimum

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of 10 business days prior notice. Historical GAW%s and Joint GAW%s reflected in Rate Sheet Supplements may be found in the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus, as well as on the SEC’s website (www.sec.gov) by searching with File Number 333-194044.

Request –Any written, telephoned, electronic or computerized instruction in a form satisfactory to Great-West that the ServiceCenter receives from you, your designee (as specified in a form acceptable to Great-West) or the Beneficiary (as applicable) as required by any provision of the Contract. The Request is subject to any action taken or payment made by Great-West before it is processed. A written Request shall be deemed to include electronic mail transmissions only if such transmissions include PDF or other facsimile transmissions clearly reproducing manual signatures.

Reset – A change made to the Benefit Base and GAW% if the Covered Fund Value multiplied by the Attained Age GAW% is higher than the current Benefit Base multiplied by the current GAW% on the Ratchet Date. Installments will not change unless you provide a Request.

Restricted Beneficiary Payout Option – a Beneficiary payout option that may be selected at Contract issue or later, available by endorsement to this Contract and providing that an Owner can pre-select the amount and form of payout option for any given Beneficiary.

Series Account –Variable Annuity-1 Series Account, the segregated asset account established by Great-West under New York law and registered as a unit investment trust under the Investment Company Act of 1940, as amended (the “1940 Act”).

Service Center -- You may write to us at our administrative office at P.O. Box 1854 Birmingham, Alabama 35201-1854 (Regular Mail); 2801 Highway 280 South, Birmingham, Alabama 35223 (Overnight Mail); or call us toll free at (800) 838-0650.

Spouse – A person recognized as a spouse in the state where the couple was legally married. The term does not include a party to a registered domestic partnership, civil union, or similar formal relationship recognized under state law that is not denominated a marriage under that state’s law.

Sub-Account – A division of the Series Account containing the shares of a Portfolio in the Investment Segment, the Income Segment, or both. There is a Sub-Account for each Portfolio. We may also refer to a Sub-Account as an “investment option” in the Prospectus, SAI, or Series Account financial statements, or a “subaccount” in marketing materials.

Successor Beneficiary –Upon the death of the Beneficial Owner, the natural person who is entitled to receive the Beneficial Owner’s remaining interest in a Contract held as a Non-Qualified Stretch Annuity. A Successor Beneficiary may elect to receive his or her interest in a single sum or over the remaining distribution period initially selected by the Beneficial Owner. A non-natural entity, such as a Grantor Trust or Non-Grantor Trust, is not permitted as a Successor Beneficiary of a Contract held as a Non-Qualified Stretch Annuity.

Surrender Value – Your Annuity Account Value on the Transaction Date of the surrender, less Premium Tax, if any.

Transaction Date – The date on which any Contribution or Request from you will be processed. Contributions and Requests received after the close of regular trading on the New York Stock Exchange (generally 4:00 p.m. ET) will be deemed to have been received on the next Business Day. Requests will be processed and the Annuity Account Value will be determined on each day that the New York Stock Exchange is open for trading.

Transfer – Moving amounts from and among the Sub-Account(s).

Valuation Date – The date on which the net asset value of each Portfolio is determined, which is the end of each day that the New York Stock Exchange is open for regular business.

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Fee Tables

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Contract. The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, or transfer cash value between investment options. State Premium Taxes may also be deducted.

Owner Transaction Expenses 

Sales Load Imposed on Purchases	None
Deferred Sales Load	None
Surrender Fees	None
Maximum Transfer Charge	$25*

* Currently, there is no charge for Transfers. We reserve the right, however, to impose a transfer charge after we notify you. See “Transfers” below.

The next table describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including Portfolio fees and expenses. 

Annual Contract Fee None

Series Account Annual Expenses (as a percentage of average Annuity Account Value) 

Mortality and Expense Risk Charges (based on Death Benefit Option selected)
Option 1: Return of Annuity Account Value	0.65%
Option 2: Guaranteed Minimum Death Benefit	0.85%
Maximum Total Series Account Annual Expenses (with the most expensive death benefit option and no optional GLWB Rider selected) as a percentage of average Annuity Account Value	0.85%

 

Optional GLWB Rider Fees Optional Guaranteed Lifetime Withdrawal Benefit Rider (with charges assessed quarterly)
Guarantee Benefit Fee (maximum) based on Covered Fund Value (for Contract applications signed before May 1, 2017) and on current Benefit Base (for Contract applications signed on or after May 1, 2017)	1.50%
Guarantee Benefit Fee (current) as a percentage of the current Covered Fund Value (for Contract applications signed before May 1, 2017)	1.00%
Guarantee Benefit Fee (current) as a percentage of the current Benefit Base (for Contract applications signed on or after May 1, 2017)	0.90%

The next item shows the minimum and maximum total operating expenses charged by the Portfolios, before any waivers or reimbursements, that you may pay periodically during the time that you own the Contract. More detail concerning each Portfolio’s fees and expenses is contained in the prospectus for each Portfolio. 

Total Annual Portfolio Operating Expenses	Minimum	Maximum
(Expenses that are deducted from Portfolio assets, including management fees, distribution and/or service (12b-1) fees, and other expenses)1	0.03%	2.28%

THE ABOVE EXPENSES FOR THE PORTFOLIOS WERE PROVIDED BY THE PORTFOLIOS. WE HAVE NOT INDEPENDENTLY VERIFIED THE ACCURACY OF THE INFORMATION FOR THE PORTFOLIOS THAT ARE UNAFFILIATED WITH GREAT-WEST.

1 The Covered Funds are “funds of funds” that invest substantially all of their assets in shares of other series of Great-West Funds, Inc. (the “Underlying Portfolios”). Because of this, each Covered Fund also bears its pro rata share of the operating expenses of the Underlying Portfolios. The above minimum and maximum expenses include fees and expenses incurred indirectly by the Covered Funds as a result of their investment in shares of one or more Underlying Portfolios.

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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 Owner transaction expenses, contract fees, Series Account annual expenses, and Portfolio fees and expenses. The maximum fees used for these Examples have not changed since inception.

Income Segment Example – Maximum Guarantee Benefit Fee. The Example below assumes that you invest $10,000 in the Income Segment of the Contract (and nothing in the Investment Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge, maximum Guarantee Benefit Fee and the maximum fees and expenses of any of the Portfolios in the Income Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period: 

1 year	3 years	5 years	10 years
$333.00	$1,067.00	$1,899.00	$4,488.00

Investment Segment Example. The Example below assumes that you invest $10,000 in the Investment Segment of the Contract (and nothing in the Income Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge and the maximum fees and expenses of any of the Portfolios in the Investment Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period: 

1 year	3 years	5 years	10 years
$313.00	$1,005.00	$1,792.00	$4,253.00

Income Segment Example – Current Guarantee Benefit Fee (for Contract applications signed prior to May 1, 2017). The Example below assumes that you invest $10,000 in the Income Segment of the Contract (and nothing in the Investment Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge, current Guarantee Benefit Fee of 1.00% of Covered Fund Value, and the maximum fees and expenses of any of the Portfolios in the Income Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period: 

1 year	3 years	5 years	10 years
$283.00	$911.00	$1,630.00	$3,894.00

Income Segment Example – Current Guarantee Benefit Fee (for Contract applications signed on or after May 1, 2017). The Example below assumes that you invest $10,000 in the Income Segment of the Contract (and nothing in the Investment Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge, current Guarantee Benefit Fee of 0.90% of Benefit Base, and the maximum fees and expenses of any of the Portfolios in the Income Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

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Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period: 

1 year	3 years	5 years	10 years
$273.00	$880.00	$1,575.00	$3,772.00

These Examples do not show the effect of Premium Taxes. Premium Taxes, if any, are deducted from Contract Value upon full surrender, death, or annuitization. These Examples also do not include any of the taxes or penalties you may be required to pay if you surrender your Contract.

The fee tables and example should not be considered a representation of past or future expenses and charges of the Sub-Accounts. Your actual expenses may be greater or less than those shown. Similarly, the 5% annual rate of return assumed in the example is not an estimate or a guarantee of future investment performance. See “Charges and Deductions” below.

Condensed Financial Information

Attached as Appendix A is a table showing selected information concerning Accumulation Units for each Sub-Account. An Accumulation Unit is the unit of measure that we use to calculate the value of your interest in a Sub-Account. The Accumulation Unit values reflect the deduction of the Mortality and Expense Risk Charge, but not the Guarantee Benefit Fee, if applicable, which is deducted from Covered Fund Value. The information in the table is derived from audited financial statements of the Series Account. To obtain a more complete picture of each Sub-Account’s finances and performance, you should also review the Series Account’s financial statements, which are in the Statement of Additional Information.

Summary

The Schwab OneSource Choice Variable Annuity allows you to accumulate assets on a tax-deferred basis by investing in a variety of variable investment options (the Sub-Accounts). The performance of your Annuity Account Value will vary with the investment performance of the Portfolios corresponding to the Sub-Accounts you select. You bear the entire investment risk for all amounts invested in them. Depending on the performance of the Sub-Accounts you select, your Annuity Account Value could be less than the total amount of your Contributions.

When you purchase the Contract, you have the option of allocating Contributions to the Sub-Accounts available in the Investment Segment (relating to the base Contract), to the Covered Funds in the Income Segment (relating to the GLWB Rider), or both. If you exercise the Income Segment option, the GLWB Rider will provide you with a guaranteed lifetime withdrawal benefit, provided all conditions, described below, are met.

How to contact the Service Center:

Service Center

Regular Mail:
P.O. Box 1854
Birmingham, Alabama 35201-1854

Overnight Mail:

2801 Highway 280 South

Birmingham, Alabama 35223

(800) 838-0650

How to Invest

We refer to amounts you invest in the Contract as “Contributions.” The minimum initial Contribution is $5,000. Additional Contributions to the Investment Segment can be made at any time before you begin receiving annuity payments.

The minimum subsequent Contribution is $500 (or $100 if investing via an Automatic Bank Draft Plan, if available). However, total Contributions may not exceed $1,000,000 without prior approval from Great-West. We reserve the right to lower the minimum Contribution or accept larger maximum total Contributions. We also reserve the right to cease accepting Contributions at any time for any reason.

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Before sales of the Contract ceased, you were permitted to purchase the Schwab OneSource Choice Variable Annuity through a 1035 Exchange of another insurance contract through a rollover from certain qualified plans or IRAs , or as a beneficiary of an Inherited IRA.

Sales and Surrender Charges. There are no sales, redemption, surrender, or withdrawal charges under the Schwab OneSource Choice Variable Annuity.Right of Cancellation PeriodAfter you receive your Contract, you may examine it for 10 days during which time you may cancel your Contract as described in more detail in this Prospectus. The money you contribute to the Contract will be invested at your direction. If you purchase the Contract as a replacement of an existing life insurance or annuity contract, your right of cancellation period will be extended to 60 days from the date of receiving it.

Guaranteed Lifetime Withdrawal Benefit Rider Option

For applications signed before May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Covered Fund Value. For applications signed on or after May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Benefit Base.

Provided all conditions are met, the GLWB Rider provides an annual withdrawal amount that is guaranteed for the lifetime of the Covered Person(s) according to a fixed schedule that varies the GAW% with the age of the Covered Person(s).

The GAW% and Joint GAW% applicable to you are disclosed in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract (and satisfied other terms described in this paragraph). In order to receive the disclosed GAW% or Joint GAW%, your application must be signed after the date stated in the Rate Sheet Supplement, your application must be received by us within 10 days of signing, and your initial Contribution must be received by us within 30 days of receipt of your application. If these terms are met, the disclosed rates will apply to your Contract and cannot be changed. Terms reflected in Rate Sheet Supplements that were not in effect at such time will not apply to your Contract. The terms of a Rate Sheet Supplement (including the GAW%s and Joint GAW%s) with no specified end date may not be amended unless we provide a minimum of 10 business days prior notice.

The current Rate Sheet Supplement may be found on the SEC’s website (www.sec.gov) by searching with File Number 333-194044. You may contact us at the Service Center for a Rate Sheet Supplement applicable to your Contract. As available, historical GAW%s and Joint GAW%s reflected in Rate Sheet Supplements may be found in the Appendix to this Prospectus entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements”, as well as on the SEC’s website (www.sec.gov) by searching with File Number 333-194044.

All guarantees are subject to Great-West’s financial strength and claims paying ability.

Payout Options

The Schwab OneSource Choice Variable Annuity offers three payout options: (1) periodic withdrawals; (2) variable annuity payouts; or (3) a single, lump-sum payment.

Prior to the Annuity Commencement Date, you can withdraw all or a part of your Annuity Account Value. There are no surrender or withdrawal charges. Certain withdrawals will normally be subject to federal income tax and may also be subject to a federal penalty tax. You may also pay a Premium Tax upon a withdrawal.

Death Benefit

If the Owner dies before the Annuity Commencement Date, we will pay the Death Benefit to your Beneficiary. If the Owner dies before the entire value of the Contract is distributed, we will distribute the remaining value according to the rules outlined in the “Death Benefit” section below.

The amount distributed to your Beneficiary will depend on the Death Benefit option you select. We offer two Death Benefit options. For Option 1, the Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 the time the Contract is issued. Option 1 provides for the payment of your Annuity Account Value minus any Premium Tax. For Option 2, the Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 at the time the Contract is issued. Option 2 provides for the payment of the greater of

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(1) your Annuity Account Value, minus any Premium Tax or (2) the sum of all Contributions, minus any the impact of partial withdrawals, distributions, and Premium Tax, if any. If you select Death Benefit Option 1, your Mortality and Expense Risk Charge will be 0.65%. If you choose Death Benefit Option 2, this charge will be 0.85%.

This summary highlights some of the more significant aspects of the Schwab OneSource Choice Variable Annuity. You’ll find more detailed information about these topics throughout the Prospectus and in your Contract. Please keep them both for future reference.

Great-West Life & Annuity Insurance Company of New York

Great-West (formerly known as First Great-West Life & Annuity Insurance Company, and prior to that as Canada Life Insurance Company of New York (“CLNY”)) is a stock life insurance company incorporated under the laws of the State of New York on June 7, 1971. We operate in two business segments: (1) employee benefits (life, health, and 401(k) products for group clients); and (2) financial services (savings products for both public and non-profit employers and individuals, and life insurance products for individuals and businesses). We are licensed to do business in New York and our Home Office is located at 370 Lexington Ave., Suite 703, New York, New York 10017.

We are a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company (“GWL&A”), a life insurance company domiciled in Colorado. GWL&A is a direct wholly-owned subsidiary of GWL&A Financial Inc. (“GWL&A Financial”), a Delaware holding company. GWL&A Financial is a direct wholly-owned subsidiary of Great-West Lifeco U.S. LLC (“Lifeco U.S.”) and an indirect wholly-owned subsidiary of Great-West Lifeco, Inc. (“Lifeco”), a Canadian holding company. Lifeco opeates in the United States primarily through the Company and through Putnam Investments, LLC (“Putnam”), and in Canada and Europe through The Canada Life Assurance Company (“CLAC”) and Irish Life Group Limited and their respective subsidiaries. Lifeco is a subsidiary of Power Financial Corporation (“Power Financial”), a Canadian holding company with substantial interests in the financial services industry. Power Corporation of Canada (“Power Corporation”), a Canadian holding and management company,has voting control of Power Financial.The Desmerais Family Residuary Trust, through a group of private holdingcompanies that it controls, has voting control of Power Corporation.

The shares of Lifeco and Power Corporation are traded publicly in Canada on the Toronto Stock Exchange.

Effective December 31, 2005, First Great-West Life & Annuity Insurance Company (“First Great-West”), a stock life insurance company incorporated under the laws of the State of New York on April 9, 1996, was merged with and into CLNY. Upon the merger, CLNY became the surviving entity under New York corporate law and was renamed to First Great-West Life & Annuity Insurance Company. As the surviving corporation in the merger, CLNY assumed legal ownership of all of the assets of First Great-West, including the Series Account, and it became directly liable for First Great-West’s liabilities and obligations, including those with respect to other variable annuity contracts supported by the Series Account. Effective September 24, 2012, First Great-West Life & Annuity Insurance Company was then renamed to Great-West Life & Annuity Insurance Company of New York.

Any payments we are required to make to you under the GLWB Rider will depend on our long-term ability to make such payments. We will make all payments under the GLWB Rider in the GLWB Settlement Phase from our general account, which is not insulated from the claims of our third party creditors. Therefore, your receipt of payments from us is subject to our financial strength and claims paying ability. The Covered Fund does not make payments under the GLWB Rider.

On June3, 2019, GWL&A entered into an indemnity reinsurance agreement (the “Agreement”) with Protective Life Insurance Company (“Protective”) to indemnifyand reinsure theobligations of Great-West under substantially all of its non-participating individual life insurance and annuity business and group life and health business, including this Contract.

Under the Agreement, as of October 5, 2020, Protective will provide administration and customer service for this Contract in accordance with its terms and contidions. Great-West will continue its present role as the issuer of your Contract and will remain responsible for the administration and customer service of the Contract. All of your rights and benefits under your Contract and Great-West’s obligations under the Contract remain unchanged.

The Series Account

The Series Account is registered with the SEC under the 1940 Act as a unit investment trust. Registration under the 1940 Act does not involve supervision by the SEC of the management or investment practices or policies of the Series Account. The Series Account was established in accordance with New York laws on January 15, 1997.

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The Contract may refer to the Series Account as the “Separate Account.”

We own the assets of the Series Account. The income, gains, or losses, realized or unrealized, from assets allocated to the Series Account are credited to or charged against the Series Account without regard to our other income, gains, or losses.

We will at all times maintain assets in the Series Account with a total market value at least equal to the reserves and other liabilities relating to the variable benefits under all Contracts participating in the Series Account. Those assets may not be charged with our liabilities from our other business. Our obligations under the Contracts are, however, our general corporate obligations.

In calculating our corporate income tax liability, we derive certain corporate income tax benefits associated with the investment of company assets, including Series Account assets that are treated as company assets under applicable income tax law. These benefits, which reduce our overall corporate income tax liability, may include dividends received deductions and foreign tax credits which can be material. We do not pass these benefits through to the Series Account or our other separate accounts, principally because: (i) the great bulk of the benefits results from the dividends received deduction, which involves no reduction in the dollar amount of dividends that the Series Account receives; and (ii) under applicable income tax law, Owners are not the owners of the assets generating the benefits.

The Series Account is divided into several Sub-Accounts. Each Sub-Account invests exclusively in shares of a corresponding investment Portfolio of a registered investment company (commonly known as a mutual fund). We may in the future add new Sub-Accounts, terminate, substitute or discontinue existing Sub-Accounts. The income, gains, or losses, realized or unrealized, from assets allocated to each Sub-Account are credited to, or charged against, that Sub-Account without regard to the other income, gains, or losses of the other Sub-Accounts. All amounts allocated to a Sub-Account will be fully invested in Portfolio shares.

We hold the assets of the Series Account. We keep those assets physically segregated and held separate and apart from our general account assets. We maintain records of all purchases and redemptions of shares of the Portfolios.

The Portfolios

The Contract offers a number of investment options, corresponding to the Sub-Accounts. Each Sub-Account invests in a single Portfolio. Each Portfolio is a separate mutual fund registered under the 1940 Act. More comprehensive information, including a discussion of potential risks, is found in the current prospectuses for the Portfolios. You should read the Portfolios’ prospectuses in connection with this Prospectus. You may obtain a copy of the Portfolios’ prospectuses without charge by Request. If you received a summary prospectus for a Portfolio, please follow the directions on the first page of the summary prospectus to obtain a copy of that Portfolio’s prospectus.

Each Portfolio:

•holds its assets separately from the assets of the other Portfolios,

•has its own distinct investment objectives and policies, and

•operates as a separate investment fund.

The income, gains and losses of one Portfolio generally have no effect on the investment performance of any other Portfolio.

The Portfolios are not available to the general public directly. The Portfolios are only available as investment options in variable annuity contracts or variable life insurance policies issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the Portfolios have been established by investment advisers that manage publicly available mutual funds having similar names and investment objectives. While some of the Portfolios may be similar to, and may in fact be modeled after publicly available mutual funds, you should understand that the Portfolios are not otherwise directly related to any publicly available mutual fund. Consequently, the investment performance of publicly available mutual funds and any corresponding Portfolios may differ. The investment objectives of the Portfolios available under the Investment Segment are briefly described below followed by the investment objective of each of the Covered Funds available under the Income Segment:

AB Variable Products Series Fund, Inc. – advised by AllianceBernstein, L.P.

AB VPS Growth and Income Portfolio (Class A Shares) - seeks long-term growth of capital.

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AB VPS Large Cap Growth Portfolio (Class A Shares) - seeks long-term growth of capital.

AB VPS Small/Mid Cap Value Portfolio (Class A Shares) - seeks long-term growth of capital.

AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - advised by Invesco Advisers, Inc.

Invesco Oppenheimer V.I. International Growth Fund (Series I Shares)* - seeks capital appreciation.

Invesco V.I. Comstock Fund (Series I Shares) - seeks capital growth and income.

Invesco V.I. Global Fund (formerly Invesco Oppenheimer V.I. Global Fund) (Series I Shares) - seeks capital appreciation.

Invesco V.I. Growth and Income Fund (Series I Shares)* - seeks long-term growth of capital and income.

Invesco V.I. High Yield Fund (Series I Shares) - seeks total return, comprised of current income and capital appreciation.

Invesco V.I. International Growth Fund (Series I Shares)* - seeks long-term growth of capital.

Invesco V.I. Main Street Small Cap Fund® (formerly Invesco Oppenheimer V.I. Main Street Small Cap Fund®) (Series I Shares) - seeks capital appreciation.

Invesco V.I. Small Cap Equity Fund (Series I Shares)* - seeks long-term growth of capital.

Alger Portfolios – advised by Fred Alger Management, Inc.

Alger Capital Appreciation Portfolio (Class I-2 Shares) - seeks long-term capital appreciation.

ALPS Variable Investment Trust – advised by ALPS Advisors, Inc.

ALPS|Red Rocks Global Opportunity Portfolio (Class I Shares) - seeks to maximize total return, which consists of appreciation on its investments and a variable income stream.

American Century Variable Portfolios, Inc. – advised by American Century Investment Management, Inc.

American Century Investments® VP Balanced Fund (Class I Shares) - seeks long-term capital growth and current income by investing approximately 60% of its assets in equity securities and the remainder in bonds and other fixed-income securities.

American Century Investments® VP Disciplined Core Value Fund (formerly American Century Investments Income & Growth Fund) (Class I Shares) - seeks capital growth; income is a secondary objective.

American Century Investments® VP International Fund (Class I Shares) - seeks capital growth.

American Century Investments® VP Mid Cap Value Fund (Class II Shares) - seeks long-term capital growth; income is a secondary consideration.

American Century Investments® VP Value Fund (Class I Shares) - seeks long-term capital growth; income is a secondary consideration.

American Funds Insurance Series® - advised by Capital Research and Management Company

American Funds IS Capital World Bond Fund (Class 2 Shares) - seeks to provide, over the long term, a high level of total return consistent with prudent investment management.

American Funds IS Global Small Capitalization Fund (Class 2 Shares) - seeks long-term growth of capital.

American Funds IS Growth-Income Fund (Class 4 Shares) - seeks to achieve long-term growth of capital and income.

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American Funds IS New World Fund® (Class 2 Shares) - seeks long-term capital appreciation.

American Funds IS The Bond Fund of America (formerly American Funds IS Bond Fund) (Class 2 Shares) - seeks to provide as high a level of current income as is consistent with the preservation of capital.

Blackrock Variable Series Funds, Inc. - advised by BlackRock Advisors, LLC

BlackRock 60/40 Target Allocation ETF V.I. Fund (Class III Shares) - seeks to track the investment results of an index composed of global equities in the technology sector.

BlackRock Global Allocation V.I. Fund (Class I Shares) - seeks high total investment return.

BNY Mellon Investment Portfolios – advised by BNY Mellon Investment Adviser, Inc.

BNY Mellon IP MidCap Stock Portfolio (Initial Shares)* - seeks investment results that are greater than the total return performance of publicly traded common stocks of medium-size domestic companies in the aggregate, as represented by the Standard & Poor's MidCap 400® Index (S&P 400 Index).

BNY Mellon Variable Investment Fund – advised by BNY Mellon Investment Adviser, Inc.

BNY Mellon VIF Growth and Income Portfolio (Initial Shares)* - seeks long-term capital growth, current income and growth of income consistent with reasonable investment risk.

Columbia Funds Variable Insurance Trust - advised by Columbia Management Investment Advisers, LLC

Columbia Variable Portfolio - Small Cap Value (Class 2 Shares) - seeks long-term capital appreciation.

Columbia Funds Variable Series Trust II - advised by Columbia Management Investment Advisors, LLC

Columbia Variable Portfolio - Emerging Markets Fund (Class 2 Shares) - seeks to provide shareholders with long-term capital growth.

Columbia Variable Portfolio - Large Cap Growth Fund (Class 2 Shares) - seeks to provide shareholders with long-term capital growth.

Columbia Variable Portfolio - Seligman Global Technology Fund (Class 2 Shares) - seeks long-term capital appreciation.

Delaware VIP® Trust – advised by Delaware Management Company

Delaware VIP® Emerging Markets Series (Standard Class Shares) - seeks long-term capital appreciation.

Delaware VIP® International Series (Standard Class Shares) - seeks long-term growth without undue risk to principal.

Delaware VIP® Small Cap Value Series (Standard Class Shares) - seeks capital appreciation.

Deutsche DWS Investments VIT Funds – advised by DWS Investment Management Americas, Inc.

DWS Small Cap Index VIP (Class A Shares) - seeks to replicate, as closely as possible, before the deduction of expenses, the performance of the Russell 2000® Index, which emphasizes stocks of small U.S. companies.

Deutsche DWS Variable Series I – advised by DWS Investment Management Americas, Inc.

DWS Capital Growth VIP (Class A Shares) - seeks to provide long-term growth of capital.

DWS Core Equity VIP (Class A Shares) - seeks long-term growth of capital, current income and growth of income.

DWS Global Small Cap VIP (Class A Shares)* - seeks above-average capital appreciation over the long term.

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Deutsche DWS Variable Series II – advised by DWS Investment Management Americas, Inc.

DWS Small Mid Cap Growth VIP (Class A Shares)* - seeks long-term capital appreciation.

Federated Hermes Insurance Series – advised by Federated Investment Management Company

Federated Hermes Fund for U.S. Government Securities II - seeks to provide current income.

Franklin Templeton Variable Insurance Products Trust

Franklin Small Cap Value VIP Fund (Class 2 Shares) - seeks long-term total return. Advised by Franklin Mutual Advisers, LLC.

Templeton Foreign VIP Fund (Class 2 Shares)* - seeks long-term capital growth. Advised by Templeton Investment Counsel, LLC.

Templeton Global Bond VIP Fund (Class 2 Shares) - seeks high current income consistent with preservation of capital; capital appreciation is a secondary objective. Advised by Franklin Advisers, Inc.

Great-West Funds, Inc. – advised by Great-West Capital Management, LLC

Great-West Aggressive Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds that emphasize equity investments.

Great-West Bond Index Fund (Investor Class Shares) - seeks investment results that track the total return of the debt securities that comprise the Bloomberg Barclays U.S. Aggregate Bond Index.

Great-West Conservative Profile Fund (Investor Class Shares) - seeks capital preservation primarily through investments in underlying funds that emphasize fixed income investments.

Great-West International Index Fund (Investor Class Shares) - seeks investment results, before fees and expenses that track the total return of the common stocks that comprise the MSCI EAFE (Europe, Australasia, Far East) Index.

Great-West International Value Fund (Investor Class Shares) - seeks long-term capital growth.

Great-West Lifetime 2015 Fund (Investor Class Shares) - seeks income and secondarily, capital growth.

Great-West Lifetime 2020 Fund (Investor Class Shares) - seeks income and secondarily capital growth.

Great-West Lifetime 2025 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2025, it seeks income and secondarily capital growth.

Great-West Lifetime 2030 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2030, it seeks income and secondarily capital growth.

Great-West Lifetime 2035 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2035, it seeks income and secondarily capital growth.

Great-West Lifetime 2040 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2040, it seeks income and secondarily capital growth.

Great-West Lifetime 2045 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2045, it seeks income and secondarily capital growth.

Great-West Lifetime 2050 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2050, it seeks income and secondarily capital growth.

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Great-West Lifetime 2055 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2055, it seeks income and secondarily capital growth.

Great-West Lifetime 2060 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2060, it seeks income and secondarily capital growth.

Great-West Mid Cap Value Fund (Investor Class Shares) - seeks long-term growth of capital.

Great-West Moderate Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds with a relatively equal emphasis on equity and fixed income investments.

Great-West Moderately Aggressive Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds that emphasize equity investments and, to a lesser degree, in underlying funds that emphasize fixed income investments.

Great-West Moderately Conservative Profile Fund (Investor Class Shares) - seeks income and capital appreciation primarily through investments in underlying funds that emphasize fixed income investments and, to a lesser degree, in underlying funds that emphasize equity investments.

Great-West Multi-Sector Bond Fund (Investor Class Shares) - seeks high total investment return through a combination of current income and capital appreciation.

Great-West Real Estate Index Fund (Investor Class Shares) - seeks investment results, before fees and expenses, that track the total return of a benchmark index that measures the performance of publicly traded equity real estate investment trusts (“REITs”).

Great-West Small Cap Value Fund (formerly Great-West Loomis Sayles Small Cap Value Fund) (Investor Class Shares) - seeks long-term capital growth.

Great-West T. Rowe Price Mid Cap Growth Fund (Investor Class Shares) - seeks long-term capital appreciation.

Ivy Variable Insurance Portfolios – advised by Ivy Investment Management Company

Ivy VIP International Core Equity (Class II Shares)* - seeks capital growth and appreciation.

Janus Aspen Series – advised by Janus Capital Management LLC

Janus Henderson Balanced Portfolio (Service Shares) - seeks long-term capital growth, consistent with preservation of capital and balanced by current income.

Janus Henderson Flexible Bond Portfolio (Service Shares) - seeks to obtain maximum total return, consistent with preservation of capital.

Janus Henderson Global Research Portfolio (Institutional Shares) - seeks long-term growth of capital.

Janus Henderson Global Technology and Innovation Portfolio (InstitutionalShares) - seeks long-term growth of capital.

JPMorgan Insurance Trust – advised by J.P. Morgan Investment Management Inc.

JPMorgan Insurance Trust Core Bond Portfolio (Class 1 Shares) - seeks to maximize total return by investing primarily in a diversified portfolio of intermediate- and long-term debt securities.

JPMorgan Insurance Trust Small Cap Core Portfolio (Class 1 Shares) - seeks capital growth over the long term.

Lazard Retirement Series, Inc. – advised by Lazard Asset Management, LLC

Lazard Retirement Emerging Markets Equity Portfolio (Service Shares) - seeks long-term capital appreciation.

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Legg Mason Partners Variable Equity Trust – advised by Legg Mason Partners Fund Advisor, LLC

ClearBridge Variable Large Cap Growth Portfolio (Class I Shares) - seeks long-term growth of capital.

ClearBridge Variable Mid Cap Portfolio (Class I Shares) - seeks long-term growth of capital.

ClearBridge Variable Small Cap Growth Portfolio (Class I Shares) - seeks long-term growth of capital.

Lincoln Variable Insurance Products Trust – advised by Lincoln Investment Advisors Corporation

LVIP Baron Growth Opportunities Fund (Service Class Shares) - seeks capital appreciation.

LVIP Delaware SMID Cap Core Fund (Standard Class Shares) - seeks long-term capital appreciation.

LVIP Delaware Value Fund (Standard Class Shares) - seeks long-term capital appreciation.

Lord Abbett Series Fund, Inc. – advised by Lord, Abbett & Co. LLC

Lord Abbett Series Fund Short Duration Income Portfolio (Class VC Shares) - seeks a high level of income consistent with preservation of capital.

MFS® Variable Insurance Trust – advised by Massachusetts Financial Services Company

MFS® VIT Utilities Series (Service Class Shares)* - seeks total return.

MFS® Variable Insurance Trust II – advised by Massachusetts Financial Services Company

MFS® VIT II Core Equity Portfolio (Service Class Shares) - seeks capital appreciation.

MFS® VIT II International Growth Portfolio (Initial Class Shares) - seeks capital appreciation.

MFS® VIT II International Intrinsic Value Portfolio (Service Class Shares) - seeks capital appreciation.

MFS® Variable Insurance Trust III – advised by Massachusetts Financial Services Company

MFS® VIT III Blended Research® Small Cap Equity Portfolio (Initial Class Shares) - seeks capital appreciation.

MFS® VIT III Mid Cap Value Portfolio (Initial Class Shares) - seeks capital appreciation.

Nationwide Variable Insurance Trust – advised by Nationwide Fund Advisors

NVIT Mid Cap Index Fund (Class II Shares) - seeks capital appreciation.

Neuberger Berman Advisers Management Trust – advised by Neuberger Berman Investment Advisers LLC

Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio (Class S Shares)* - seeks growth of capital.

PIMCO Variable Insurance Trust – advised by Pacific Investment Management Company, LLC

PIMCO VIT CommodityRealReturn® Strategy Portfolio (Administrative Class Shares) - seeks maximum real return, consistent with prudent investment management.

PIMCO VIT Emerging Markets Bond Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

PIMCO VIT High Yield Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

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PIMCO VIT Low Duration Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

PIMCO VIT Real Return Portfolio (Administrative Class Shares) - seeks maximum real return, consistent with preservation of real capital and prudent investment management.

PIMCO VIT Total Return Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

Pioneer Variable Contracts Trust – advised by Amundi Pioneer Asset Management, Inc.

Pioneer Bond VCT Portfolio (Class I Shares) - seeks current income from an investment grade portfolio with due regard to preservation of capital and prudent investment risk.

Pioneer Fund VCT Portfolio (Class I Shares) - seeks reasonable income and capital growth.

Pioneer Select Mid Cap Growth VCT Portfolio (Class I Shares) - seeks long-term capital growth.

Putnam Variable Trust – advised by Putnam Investment Management, LLC

Putnam VT Global Asset Allocation Fund (Class IA Shares) - seeks long-term return consistent with preservation of capital.

Putnam VT Income Fund (Class IA Shares) - seeks high current income consistent with what the manager believes to be prudent risk.

Putnam VT International Equity Fund (Class IA Shares) - seeks capital appreciation.

Putnam VT International Value Fund (Class IA Shares) - seeks capital growth; current income is a secondary objective.

Putnam VT Large Cap Value Fund (formerly Putnam VT Equity Income Fund) (Class IB Shares) - seeks capital growth and current income.

Putnam VT Mortgage Securities Fund (Class IB Shares) - seeks high current income with preservation of capital as its secondary objective.

Putnam VT Multi-Cap Core Fund (Class IA Shares) - seeks capital appreciation.

Putnam VT Small Cap Value Fund (Class IA Shares) - seeks capital appreciation.

Schwab Annuity Portfolios – advised by Charles Schwab Investment Management, Inc.

Schwab Government Money Market PortfolioTM - seeks the highest current income consistent with stability of capital and liquidity. This Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. There can be no assurance that the Portfolio will be able to maintain a stable net asset value of $1.00 per share.

Schwab® S&P 500 Index Portfolio - seeks to track the total return of the S&P 500® Index.

T. Rowe Price Equity Series, Inc. – advised by T. Rowe Price Associates, Inc.

T. Rowe Price Health Sciences Portfolio (Portfolio-II Class Shares) - seeks long-term capital appreciation.

Touchstone Variable Series Trust – advised by Touchstone Advisors, Inc.

Touchstone Bond Fund* - seeks to provide as high a level of current income as is consistent with the preservation of capital; capital appreciation is a secondary goal.

Touchstone Common Stock Fund* - seeks to provide investors with capital appreciation.

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Touchstone Small Company Fund - seeks growth of capital.

VanEck VIP Trust – advised by Van Eck Associates Corporation

VanEck VIP Global Resources Fund (formerly VanEck VIP Global Hard Assets Fund) (S Class Shares) - seeks long-term capital appreciation by investing primarily in global resource securities; income is a secondary consideration.

Wells Fargo Variable Trust – advised by Wells Fargo Funds Management, LLC

Wells Fargo VT Discovery Fund (Class 2 Shares) - seeks long-term capital appreciation.

Wells Fargo VT Omega Growth Fund (Class 2 Shares) - seeks long-term capital appreciation.

* The Sub-Account investing in this Portfolio is closed to new Contributions and incoming Transfers (including Automatic Custom Transfers).

The investment objectives of the Covered Funds available under the Income Segment are briefly described below and discussed in more detail below under “Guaranteed Lifetime Withdrawal Benefit.” The Contract currently offers four Covered Funds. Great-West may make additional or fewer Covered Funds available to Contract Owners in the future.

Great-West Funds, Inc. – advised by Great-West Capital Management, LLC

Great-West Conservative Profile Fund (Investor Class Shares) - seeks capital preservation primarily through investments in underlying funds that emphasize fixed income investments.

Great-West Moderate Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds with a relatively equal emphasis on equity and fixed income investments.

Great-West Moderately Conservative Profile Fund (Investor Class Shares) - seeks income and capital appreciation primarily through investments in underlying funds that emphasize fixed income investments and, to a lesser degree, in underlying funds that emphasize equity investments.

Great-West SecureFoundation® Balanced Fund (Investor Class Shares) - seeks long-term capital appreciation and income.

Meeting Investment Objectives

Meeting investment objectives depends on various factors, including, but not limited to, how well the Portfolio managers anticipate changing economic and market conditions. There is no guarantee that any of these Portfolios will achieve their stated objectives.

Where to Find More Information About the Portfolios

Additional information about the investment objectives and policies of all the Portfolios and the investment advisory and administrative services and charges can be found in the current prospectuses of the Portfolios, which can be obtained from the Service Center. You may also visit https://schwab.retirementpartner.com.

You should read the Portfolios’ prospectuses carefully before making any decision concerning the allocation of Contributions to, or Transfers among, the Sub-Accounts.

Addition, Deletion or Substitution of Sub-Accounts

Great-West selects the Portfolios offered though the Contract based on several criteria, including but not limited to asset class coverage, brand recognition, the reputation and tenure of the adviser or sub-adviser, expenses, performance, marketing, availability, investment conditions, and the qualifications of each investment company. Another factor we consider is whether the Portfolio or an affiliate of the Portfolio will compensate Great-West for providing certain administrative, marketing, or support services that would otherwise be provided by the Portfolio, its investment adviser, or its distributor. For more information on such compensation, see “Distribution of the

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Contracts,” below. When we develop and offer a variable annuity product in cooperation with a fund family or a distributor, Great-West will generally include Portfolios based on recommendations made by the fund family or the distributor, whose selection criteria may differ from our own. We have selected Portfolios of the Great-West Funds at least in part because they are managed by our directly owned subsidiary.

Great-West does not control the Portfolios that are not affiliated with us, and cannot guarantee that any of the Portfolios will always be available for allocation of Contributions or Transfers. We retain the right to make changes in the Series Account and in its investments, including the right to establish new Sub-Accounts or to eliminate existing Sub-Accounts.

Great-West periodically reviews each Portfolio and reserves the right to discontinue the offering of any Portfolio if we determine the Portfolio no longer meets one or more of the criteria, or if the Portfolio has not attracted significant allocations. If a Portfolio is discontinued, we may substitute shares of another Portfolio or shares of another investment company for the discontinued Portfolio’s shares; provided however, any share substitution will comply with the requirements of the 1940 Act. If you are contributing to a Sub-Account corresponding to a Portfolio that is being discontinued, we will provide notice prior to the Portfolio’s elimination.

Application and Initial Contributions

The first step to purchasing the Schwab OneSource Choice Variable Annuity is to complete your Contract application and submit it with your initial minimum Contribution of $5,000. You can make initial Contributions by check (payable to Great-West), by transferring amounts from an eligible brokerage account or by other methods approved by Great-West. You also may purchase the Contract through an exchange provided that the contract you are exchanging for the Schwab OneSource Choice Variable Annuity has a cash value of at least $5,000. You may also purchase the Contract through a rollover of assets from certain qualified retirement plans or IRAs, or as a beneficiary of an inherited IRA, provided the rollover amount or inherited amount is at least $5,000.

The Contract application and any initial Contributions made by check will be processed by the Service Center.

If your application is complete, your Contract will be issued and your Contribution will be credited within two Business Days after receipt by Great-West. Acceptance is subject to sufficient information in a form acceptable to us. We reserve the right to reject any application or Contribution.

If your application is incomplete, you will be contacted by telephone or email to obtain the required information. If the information necessary to complete your application is not received within five Business Days, we will return to you both your check and the application. If you provide consent we will retain the initial Contribution and credit it as soon as we have completed your application.

Right of Cancellation Period

During the ten day right of cancellation period, you may cancel your Contract. If you purchased your Contract as a replacement of an existing contract, the right of cancellation period is extended to 60 days from the date you received it. If you exercise your right of cancellation, you must return the Contract to the Service Center or an agent of Great-West. Contracts returned during the right of cancellation period will be void from the start and we will return your Annuity Account Value plus fees and charges as of the date of mailing or the day you deliver the Contract to Great-West or an authorized agent of Great-West. This amount may be higher or lower than your Contributions depending on the investment performance, which means you bear the risk until we receive your Contract and Request for cancellation.

Initial Contributions will be allocated to the Sub-Accounts you select in your application. During the right of cancellation period, the Owner may change the Sub-Account allocations as well as the allocation percentages.

Subsequent Contributions

Once your application is complete and we have received your initial Contribution, you can make subsequent Contributions to the Investment Segment at any time prior to the Annuity Commencement Date, as long as the Annuitant is living. Additional Contributions must be at least $500; or, $100 if made via an Automatic Bank Draft Plan, if available. Total Contributions may exceed $1,000,000 only with our prior approval.

You can make subsequent Contributions by check, Automatic Bank Draft Plan, if available, transfers from your brokerage account or other method approved by Great-West. If you make subsequent Contributions by check, your check should be payable to Great-West.

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We will allocate the subsequent Contributions to the Sub-Accounts selected by you and in the proportion Requested by you. If there are no accompanying instructions, Sub-Account allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

You will receive a confirmation of each Contribution you make upon its acceptance. Subsequent Contributions are credited the day they are received in the Service Center at Great-West if they are received on a Business Day. Subsequent Contributions received on non-Business Days will be credited the next Business Day.

If you cancel a purchase payment or if your check is returned due to insufficient funds, you will be responsible for any losses or fees imposed by your bank and losses that may be incurred as a result of any decline in the value of the canceled purchase. We reserve the right to refrain from allocating Contributions to your selected Sub-Accounts until your bank notifies us that your check has cleared.

Great-West reserves the right to modify the limitations set forth in this section.

Annuity Account Value

Before the Annuity Commencement Date, the value of your Contract is the Annuity Account Value, which, before your Annuity Commencement Date, is the total dollar amount of all Accumulation Units credited to you for each Sub-Account. Initially, the value of each Accumulation Unit was set at $10.00.

Each Sub-Account’s value prior to the Payout Election Date is equal to:

•net Contributions allocated to the corresponding Sub-Account;

•plus or minus any increase or decrease in the value of the assets of the Sub-Account due to investment results;

•minus the daily M&E Charge and/or quarterly Guarantee Benefit Fee; and

•minus any withdrawals or Transfers from the Sub-Account.

The value of a Sub-Account’s assets is determined at the end of each day that the New York Stock Exchange is open for regular business (a valuation date). A valuation period is the period between successive valuation dates. It begins at the close of the New York Stock Exchange (generally 4:00 p.m. ET) on each valuation date and ends at the close of the New York Stock Exchange on the next succeeding valuation date.

The Annuity Account Value is expected to change from valuation period to valuation period, reflecting the investment experience of the selected Sub-Account(s), as well as the deductions for applicable charges. The Guarantee Benefit Fee is deducted from Covered Fund Value by means of the cancellation of Accumulation Units and is not part of the Accumulation Unit value calculations.

Upon allocating Contributions to a Sub-Account you will be credited with variable Accumulation Units in that Sub-Account. The number of Accumulation Units you will be credited is determined by dividing the portion of each Contribution allocated to the Sub-Account by the value of an Accumulation Unit. The value of the Accumulation Unit is determined and credited at the end of the valuation period during which the Contribution was received.

Each Sub-Account’s Accumulation Unit value is established at the end of each valuation period. It is calculated by multiplying the value of that unit at the end of the prior valuation period by the Sub-Account’s Net Investment Factor for the valuation period. The formula used to calculate the Net Investment Factor is the same for the Investment Segment and Income Segment, as discussed in Appendix B.

Transfers

While your Contract is in force, and subject to the terms of the GLWB Rider, if applicable, you may Transfer all or part of your Annuity Account Value among and between the Sub-Accounts by telephone, in writing by sending a Request to the Service Center or through the Internet at https://schwab.retirementpartner.com. Incoming Transfers to closed Sub-Accounts are not permitted; Transfers are permitted after Annuity Payouts from the Investment Segment have begun.

Your Request must specify:

•the amounts being transferred,

•the Sub-Account(s) from which the Transfer is to be made, and

•the Sub-Account(s) that will receive the Transfer.

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Any limitation on Transfers among Sub-Accounts that you can make during any Contract year is set forth on your Contract Data Page. Currently, we impose no charge for Transfers you make in excess of this amount. However, we reserve the right to impose such a charge in the future. If we choose to exercise this right we will notify you by sending you a supplement to this Prospectus, in accordance with all applicable regulations.

A Transfer generally will be effective on the date the Service Center receives the Request for Transfer if received before 4:00 p.m. ET on a Business Day. Any Transfer Request received after 4:00 p.m. ET becomes effective on the following Business Day. Under current tax law, there will not be any tax liability to you if you make a Transfer.

Transfers involving the Sub-Accounts will result in the purchase and/or cancellation of Accumulation Units having a total value equal to the dollar amount being transferred. The purchase and/or cancellation of such units is made using the value of the Sub-Accounts as of the end of the valuation date on which the Transfer is effective.

We reserve the right without prior notice to modify, restrict, suspend, or eliminate the Transfer privileges (including telephone and/or Internet Transfers) at any time.

At present, we do not impose minimums on amounts that must be transferred. However, we reserve the right to impose, from time to time, minimum dollar amounts that may be transferred from a Sub-Account.

We also reserve the right to impose, from time to time, minimum dollar amounts that must remain in a Sub-Account after giving effect to a Transfer from that Sub-Account. At present, we do not impose any such minimums.

Market Timing and Excessive Trading

Limitations on frequent Transfers,including “market timing”Transfers.Frequent Transfers may involve an effort to take advantage of the possibility of a lag between a change in the value of an underlying Portfolio’s securities and the reflection of that change in the Portfolio’s share price. This strategy, sometimes referred to as “market timing,”involves an attempt to buy shares of a Portfolio at aprice thatdoes not reflect the current market value of the securities of the Portfolio, and then to realize a profit when the Portfolio shares are sold the next valuation date or thereafter.

When you make a Transfer Request among the Portfolios,your request triggers the purchase and redemption of Portfolio shares.FrequentTransfers cause frequent purchases and redemptions of Portfolio shares.Frequentpurchases and redemptions of Portfolio shares can cause adverse effects for a Portfolio,Portfolio shareholders,the Sub-Account,other Owners,Beneficiaries, Annuitants, or owners of other variable annuity contractswe issue that invest in the Sub-Account. Frequent Transfers can result in the following adverse effects:

•Increased brokerage, trading and transaction costs;

•Disruption of planned investment strategies;

•Forced and unplanned liquidation and Portfolio turnover;

•Lost opportunity costs; and

•Large asset swings that decrease the Portfolio’s ability to provide maximum investment return to all Contract Owners.

In order to try to protect our Contract Owners and the Portfolios from the potential adverse effects of frequent Transfer activity, we have implemented certain market timing policies and procedures (the “Market Timing Procedures”). Our Market Timing Procedures are designed to detect and prevent frequent, short-term Transfer activity that may adversely affect the Portfolios, Portfolio shareholders, the Sub-Account, other Owners, Beneficiaries, Annuitants and owners of other variable annuity contracts we issue that invest in the Sub-Account. We discourage frequent Transfers of Contract Value between the Sub-Accounts.

We monitor Transfer activity in the Contracts to identify frequent Transfer activity in any Contract. Our current Market Timing Procedures are intended to detect Transfer activity in which the Transfers exceed a certain dollar amount and a certain number of Transfers involving the same Portfolios within a specific time period. We regularly review transaction reports in an attempt to identify Transfers that exceed our established parameters. We do not include Transfers made pursuant to the dollar-cost averaging and Portfolio rebalancing programs when monitoring for frequent Transfer activity.

When we identify Transfer activity exceeding our established parameters in a Contract or group of Contracts that appear to be under common control, we suspend non-written methods of requesting Transfers for that Contract or group of Contracts. All Transfer Requests for the affected Contract or group of Contracts must be in writing. We notify the affected Owner(s) in writing of these restrictions.

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In addition to our Market Timing Procedures, the Portfolios may have their own market timing policies and restrictions. While we reserve the right to enforce the Portfolios’ policies and procedures, Owners and other persons with interests under the Contracts should be aware that we may nothave the contractual authorityor the operational capacity to apply the market timing policies and procedures of the Portfolios, except that,underSEC rules,we are required to: (1) enter into a written agreement with each Portfolio or its principal underwriter that obligates us to provide to the Portfolio promptly upon request certain information about the trading activity of individual Owners, and (2) execute instructions from the Portfolio to restrict or prohibit further purchases or Transfers by specific Owners who violate the market timing policies established by the Portfolio.

Some of the Portfolios have reserved the right to temporarily or permanently refuse payments or Transfer Requests from us if, in the judgment of the Portfolio’s investment adviser, the Portfolio would be unable to invest effectively in accordance with its investment objective or policies, or would otherwise potentially be adversely affected. To the extent permitted by law, we reserve the right to delay or refuse to honor a Transfer Request, or to reverse a Transfer at any time we are unable to purchase or redeem shares of any of the Portfolios because of the Portfolio’s refusal or restriction on purchases or redemptions. We will notify the Owner(s) of any refusal or restriction on a purchase or redemption by a Portfolio relating to that Contract Owner’s Transfer Request. Some Portfolios also may impose redemption fees on short-term trading (i.e., redemptions of mutual fund shares within a certain number of business days after purchase). We reserve the right to implement, administer, and collect any redemption fees imposed by any of the Portfolios. You should read the prospectus of each Portfolio for more information about its ability to refuse or restrict purchases or redemptions of its shares, which may be more or less restrictive than our Market Timing Procedures and those of other Portfolios, and to impose redemption fees.

We apply our Market Timing Procedures consistently to all Owners without special arrangement,waiver or exception.We reserve the right to change our Market Timing Procedures at any time without prior notice as we deem necessary or appropriate to better detect and deter potentially harmful frequent Transfer activity, to comply with state or federal regulatory requirements, or both. Wemay change our parameters to monitor for different dollar amounts,number of Transfers,time period of the Transfers, or any of these.

Owners seeking to engage in frequent Transfer activity may employ a variety of strategies to avoid detection. Our ability to detect and deter such Transfer activity is limited by operational systems and technological limitations.

Furthermore, the identification of Owners determined to be engaged in transfer activity that may adversely affect others involves judgments that are inherently subjective. Accordingly, despite our best efforts,we cannot guarantee that our Market Timing Procedures will detect or deter every potential market timer. In addition, because other insurance companies, retirement plans,or both may invest in the Funds, we cannot guarantee that the Funds will not suffer harm from frequent transfer activity in contracts or policies issued by other insurance companies or by retirement plan participants.

Automatic Custom Transfers

Dollar Cost Averaging

You may arrange for systematic Transfers from any Sub-Account in the Investment Segment to any other open Sub-Account in either the Investment Segment or the Income Segment. These systematic Transfers may be used to Transfer values from a Sub-Account to other Sub-Accounts as part of a dollar cost averaging strategy. Dollar cost averaging allows you to buy more units when the price is low and fewer units when the price is high. Over time, your average cost per unit may be more or less than if you invested all your money at one time. However, dollar cost averaging does not assure a greater profit, or any profit, and will not prevent or necessarily alleviate losses in a declining market. There is no charge for participating in dollar cost averaging.

You can set up automatic dollar cost averaging on a monthly, quarterly, semi-annual, or annual basis. Your Transfer will be initiated on the Transaction Date one frequency period following the date of the Request. For example, if you Request quarterly Transfers on January 9, your first Transfer will be made on April 9 and every three months on the 9th thereafter. Transfers will continue on that same day each interval unless terminated by you or for other reasons as set forth in the Contract.

If there are insufficient funds in the applicable Sub-Account on the date your Transfer is scheduled, your Transfer will not be made. However, your dollar cost averaging Transfers will resume once there are sufficient funds in the applicable Sub-Account. Dollar cost averaging will terminate automatically when you start taking payouts from the Contract. Dollar cost averaging Transfers must meet the following conditions:

•The minimum amount that can be Transferred out of the selected Sub-Account is $100.

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•You must: (1) specify the dollar amount to be Transferred, (2) designate the Sub-Account(s) to which the Transfer will be made, and (3) designate the percentage of the dollar amount to be allocated to each Sub-Account into which you are Transferring money. The Accumulation Unit values will be determined on the Transfer date.

How dollar cost averaging works: 

Month	Contribution	Units Purchased	Price per Unit
Jan.	$250	10	$25.00
Feb.	250	12	20.83
Mar.	250	20	12.50
Apr.	250	20	12.50
May	250	15	16.67
June	250	12	20.83

Average market value per unit $18.06
Investor’s average cost per unit $16.85

In the chart above, if all units had been purchased at one time at the highest unit value of $25.00, only 60 units could have been purchased with $1,500. By contributing smaller amounts over time, dollar cost averaging allowed 89 units to be purchased with $1,500 at an average unit price of $16.85. This investor purchased 29 more units at $1.21 less per unit than the average market value per unit of $18.06.

You may not participate in dollar cost averaging and Rebalancer at the same time.

Great-West reserves the right to modify, suspend, or terminate dollar cost averaging at any time. Also, any dollar cost averaging Transfers into a Sub-Account that has been eliminated or closed to new Contributions will be automatically defaulted into the Schwab Government Money Market Portfolio Sub-Account unless you contact the Service Center to make alternate arrangements.

Rebalancer

Over time, variations in each Sub-Account’s investment results will change your Sub-Account allocation percentages. Rebalancer allows you to automatically reallocate your Investment Segment Account Value to maintain your desired Sub-Account allocation. The Income Segment Account Value is not eligible for the Rebalancer. Participation in Rebalancer does not assure a greater profit, or any profit, nor will it prevent or necessarily alleviate losses in a declining market. There is no charge for participating in Rebalancer and it is only available for assets held in the Investment Segment.

You can set up Rebalancer as a one-time Transfer or on a quarterly, semi-annual, or annual basis. If you select to rebalance only once, the Transfer will take place on the Transaction Date of the Request.

If you select to rebalance on a quarterly, semi-annual, or annual basis, the first Transfer will be initiated on the Transaction Date one frequency period following the date of the Request. For example, if you Request quarterly Transfers on January 9, your first Transfer will be made on April 9 and every three months on the 9th thereafter. Transfers will continue on that same day each interval unless terminated by you or for other reasons as set forth in the Contract.

How Rebalancer works:

Suppose you purchased your annuity and you decided to allocate 60% of your initial Contribution to Sub-Accounts that invest in stocks; 30% to Sub-Accounts that invest in bonds and 10% to Sub-Accounts that invest in cash equivalents as in this pie chart:

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Now assume that stock Portfolios outperform bond Portfolios and cash equivalents over a certain period of time. Over this period, the unequal performance may alter the Sub-Account allocation of the above hypothetical plan to look like this:

 

Rebalancer automatically reallocates your Annuity Account Value to maintain your desired Sub-Account allocation. In this example, the Sub-Account allocation would be reallocated back to 60% in Sub-Accounts that invest in stocks; 30% in Sub-Accounts that invest in bonds; 10% in Sub-Accounts that invest in cash equivalents.

On the Transaction Date for the specified Request, assets will be automatically reallocated to the Sub-Accounts you selected. The Rebalancer option will terminate automatically when you start taking payouts from the Contract.

Rebalancer Transfers must meet the following conditions:

•Your entire Investment Segment Account Value must be included (except for Sub-Accounts that are closed to new Contributions and incoming Transfers).

•You must specify the percentage of your Investment Segment Account Value that you wish allocated to each Sub-Account and the frequency of rebalancing. You may modify the allocations or stop the Rebalancer option at any time.

•You may not participate in dollar cost averaging and Rebalancer at the same time.

Great-West reserves the right to modify, suspend, or terminate the Rebalancer option at any time. Also, any Rebalancer Transfers into a Sub-Account that has been eliminated or closed to new contributions will be automatically defaulted into the Schwab Government Money Market Portfolio Sub-Account unless you contact the Retirement Resources Operation Center to make alternate arrangements.

Cash Withdrawals

You may withdraw all or part of your Annuity Account Value at any time during the life of the Annuitant and prior to the Annuity Commencement Date by submitting a withdrawal Request form to the Service Center or via the Internet at https://schwab.retirementpartner.com; however, any full withdrawals or any withdrawal over $25,000 must be submitted in writing. Withdrawals are subject to the rules below and federal or state laws, rules, or regulations may also apply. The amount payable to you if you surrender your Contract is your Annuity Account Value, less any applicable Premium Tax. No withdrawals may be made from the Investment Segment after the Annuity Commencement Date. If you surrender your Contract, the GLWB Rider, if elected, will terminate.

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If you Request a partial withdrawal, your Annuity Account Value will be reduced by the partial withdrawal amount and the Death Benefit, if applicable, will be reduced on a proportionate basis measured as a percentage of the partial withdrawal against the current Annuity Account Value. For example, a partial withdrawal of 10% of the Annuity Account Value would reduce your Death Benefit by 10%.

Numerical Example

Sum of Contract and GLWB Rider (if applicable) Contributions = $50,000

Annuity Account Value = $40,000

Withdrawal amount = $4,000

New Annuity Account Value = $36,000

Return of Annuity Account Value Death Benefit (Death Benefit Option 1) = $36,000

Adjustment to Death Benefit = ($40,000 - $4,000)/$40,000 = 0.90

Guaranteed Minimum Death Benefit (Death Benefit Option 2) = $45,000 ($50,000 x 0.90)

Partial withdrawals are unlimited in frequency. However, you must specify the Sub-Account(s) from which the withdrawal is to be made. If you elect the GLWB Rider, withdrawals from the Income Segment could significantly reduce, or even eliminate, the value of the GLWB. Before you decide to take a partial withdrawal from the Income Segment, you should carefully consider the terms and conditions of the GLWB and the impact of any withdrawal on your Benefit Base. If you do not specify from which Sub-Accounts to take the withdrawal, we will take it from all of your Sub-Accounts in the Investment Segment in proportion to the Annuity Account Value you have in each Sub-Account of the Investment Segment. The minimum partial withdrawal is $500.

The following terms apply to withdrawals:

•Partial withdrawals or surrenders from the Investment Segment are not permitted after the Annuity Commencement Date;

•If a partial withdrawal is made within 30 days of the date annuity payouts are scheduled to begin, we may delay the Annuity Commencement Date by 30 days;

•A partial withdrawal or a surrender will be effective upon the Transaction Date.

Withdrawal Requests submitted in writing must include your original signature. If your instructions are not clear, your Request will be denied and no surrender or partial withdrawal will be processed.

If we receive a Request for surrender or partial withdrawal, we may postpone any cash payment from the Annuity Account Value for no more than 7 days.

We may also delay payment for any of the following reasons:

(a)

 any period during which the New York Stock Exchange is closed (other than customary weekend and holding closings) or trading on the New York Stock Exchange is restricted;

(b)

 any period during which an emergency exists such that the disposal of or determination of the value of shares of the Portfolios is not reasonably practicable; or

(c)

 any other period as the SEC may by order permit for the protection of security holders.

After a withdrawal of all of your Annuity Account Value, or at any time that your Annuity Account Value and Benefit Base are reduced to zero, all your rights under the Contract and GLWB Rider will terminate.

Tax consequences of withdrawals are detailed below, but you should consult a competent tax advisor prior to authorizing a withdrawal from your Annuity Account Value.

Tax Consequences of Withdrawals

Withdrawals made for any purpose may be taxable—including Guaranteed Lifetime Withdrawal Benefits.

In addition, the Code may require us to withhold federal income taxes from withdrawals and report such withdrawals to the Internal Revenue Service (“IRS”). If you Request partial withdrawals, your Annuity Account Value will be reduced by the sum of the amount of the withdrawal and the related withholding.

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You may elect, in writing, to have us not withhold federal income tax from withdrawals, unless withholding is mandatory for your Contract. If you are younger than 59 1∕2, the taxable portion of any withdrawal is generally considered to be an early withdrawal and may be subject to an additional federal penalty tax of 10%.

Some states also require withholding for state income taxes. For details about withholding, please see “Federal Tax Matters” below.

Telephone and Internet Transactions

You may make Transfer Requests by telephone, fax and/or by Internet. Transfer Requests received before 4:00 p.m. ET will be made on that day at that day’s unit value. Those received after 4:00 p.m. ET will be made on the next Business Day at that day’s unit value.

We will use reasonable procedures to confirm that instructions communicated by telephone, fax and/or Internet are genuine, such as:

•requiring some form of personal identification prior to acting on instructions;

•providing written confirmation of the transaction; and/or

•tape recording the instructions given by telephone.

If we follow such procedures we will not be liable for any losses due to unauthorized or fraudulent instructions.

We reserve the right to suspend telephone, fax and/or Internet transaction privileges at any time, for some or all Contracts, and for any reason. We currently do not permit partial withdrawals or surrenders by telephone; however you may Request partial withdrawals in the amount of $25,000 or less by Internet. All Requests for full surrenders, periodic withdrawals, and partial withdrawals in excess of $25,000 must be in writing.

Death Benefit

At the time you apply to purchase the Contract, on the application, you select one of the two Death Benefit options we offer.

Option 1 — The amount of the Death Benefit under Option 1 will be your Annuity Account Value as of the date we receive a Request for the payout of the Death Benefit, minus any Premium Tax.

The Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 at the time the Contract is issued in order for you to select Option 1. Your Mortality and Expense Risk Charge under Option 1 is 0.65% of the average daily value of the Sub-Accounts to which you have allocated Contributions.

Option 2 — The amount of the Death Benefit under Option 2 will be the greater of:

•the Annuity Account Value as of the date we receive a Request for the payout of the Death Benefit, minus any Premium Tax; or

•the sum of Contributions applied to the Contract in both the Investment Segment and the Income Segment, as of the date the Request for payment is received, less the impact of partial withdrawals, distributions, and Premium Tax, if any.

The Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 at the time the Contract is issued in order for you to select Option 2. Your Mortality and Expense Risk Charge under Option 2 is 0.85% of the average daily value of the Sub-Accounts to which you have allocated Contributions.

For a full description of the circumstances under which we pay the Death Benefit, please see “Distribution of Death Benefit” below.

The difference between the two Death Benefit options we offer is that the amount payable upon death (the Death Benefit) is based on different criteria for each option and there is a different Mortality and Expense Risk Charge for each. Option 1 provides for the return of Annuity Account Value (minus any Premium Tax) rather than the greater of Annuity Account Value or the sum of Contributions. Annuity Account Value could exceed the sum of Contributions, for example, if the investment markets generally are in a growth state. Under these circumstances, it is possible that the performance of the Sub-Accounts you select may cause the Annuity Account Value to exceed the total amount of Contributions. If you had selected Death Benefit Option 1 in this example, your Beneficiary would receive the Annuity Account Value, which in this case exceeds the sum of all Contributions (minus any Premium Tax and minus the impact of partial withdrawals, distributions, and Premium Tax, if any). If you had selected Death Benefit Option 2 in this example, your Beneficiary would also receive the Annuity Account Value (minus any Premium Tax), but you would have paid a higher M&E Charge for the duration of the Contract.

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Option 2 provides for the return of Contributions (minus any Premium Tax) in the event that amount is greater than the Annuity Account Value. This could happen, for example, if the Death Benefit becomes payable soon after the Contract is purchased (say, one to three years) and, during those years, while Contributions are being made, the investment markets generally are in decline. Under these circumstances, it is possible that the performance of the Sub-Accounts you select may cause the Annuity Account Value to be less than the total amount of Contributions. If you had selected Death Benefit Option 2 in this example, your Beneficiary would receive the greater amount, in this case, the sum of all Contributions (minus any Premium Tax and minus the impact of partial withdrawals, distributions, and Premium Tax, if any ). If you had selected Death Benefit Option 1 in this example, your Beneficiary would receive the lesser amount, in this case, the Annuity Account Value (minus any Premium Tax).

The Death Benefit will become payable following our receipt of the Beneficiary’s claim in good order. When an Owner dies before the Annuity Commencement Date and a Death Benefit is payable to a Beneficiary, the Death Benefit proceeds will remain invested according to the allocation instructions given by the Owner(s) until: (i) new allocation instructions are requested by the Beneficiary; (ii) the Death Benefit is actually paid to the Beneficiary, except where the GLWB Rider may not be maintained by the Beneficiary; or, (iii) a Request for a payout of the Death Benefit is processed, as described below.

See “Restricted Beneficiary Payout Options” below for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

The amount of the Death Benefit will be determined as of the date we receive a Request for the payout of the Death Benefit. However, on the date a payout Request is processed, the Annuity Account Value will be transferred to the Schwab Government Money Market Sub-Account unless the Beneficiary elects otherwise.

Subject to the distribution rules below, payout of the Death Benefit may be made as follows:

•payout in a single sum, or

•payout under any of the variable annuity options provided under this Contract.

In any event, no payout of benefits provided under the Contract will be allowed that does not satisfy the requirements of the Code and any other applicable federal or state laws, rules or regulations.

Beneficiary

You may select one or more Beneficiaries. If more than one Beneficiary is selected, they will share equally in any Death Benefit payable unless you indicate otherwise. You may change the Beneficiary any time before the Annuitant’s death.

You may also select one or more Contingent Beneficiaries. You may change the Contingent Beneficiary before the Annuitant’s death. If one or more primary Beneficiaries are alive within 30 days after the Annuitant’s death, the Contingent Beneficiary cannot become the primary Beneficiary and any interest the Contingent Beneficiary may have in the Contract will cease.

A change of Beneficiary or Contingent Beneficiary will take effect as of the date the Request is processed, unless the Owner specifies a certain date. If the Owner dies before the Request is processed, the change will take effect as of the date the Request was made, unless we have already made a payout or otherwise taken action on a designation or change before receipt or processing of such Request. The interest of any Beneficiary who dies before the Owner or the Annuitant will terminate at the death of the Beneficiary and the Contingent Beneficiary will become the Beneficiary. The interest of any Beneficiary who dies at the time of, or within 30 days after, the death of an Owner or the Annuitant will also terminate if no benefits have been paid to such Beneficiary, unless the Owner otherwise indicates by Request. The benefits will then be paid to the Contingent Beneficiary. If no Contingent Beneficiary has been designated, then the benefits will be paid as though the Beneficiary had died before the deceased Owner or Annuitant. If no Beneficiary or Contingent Beneficiary survives the Owner or Annuitant, as applicable, we will pay the Death Benefit proceeds to the Owner’s estate.

If the Beneficiary is not the Owner’s surviving Spouse, but qualifies as an EDB, she/he may elect, not later than one year after the Owner’s date of death, to receive the Death Benefit in either a single sum or payout under any of the variable annuity options available under the Contract, provided that:

•such annuity is distributed in substantially equal installments over the life or life expectancy of the EDB or over a period not extending beyond the life expectancy of the EDB; and

•such distributions begin not later than one year after the Owner’s date of death.

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•See “Restricted Beneficiary Payout Options” below for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

If Great-West does not receive an election from a non-Spouse EDB to begin substantially equal installments prior to one year after the Owner’s date of death, or the non-Spouse Beneficiary is not an EDB, then the entire amount must be distributed within ten years of the Owner’s date of death. The Death Benefit will be determined as of the Annuity Commencement Date regardless of the timing of a non-Spouse Beneficiary’s election and notwithstanding more than a year passing after the Owner’s date of death.

If a corporation or other non-natural entity is entitled to receive benefits upon the Owner’s death, the Death Benefit must be completely distributed within five years of the Owner’s date of death. A Beneficiary or Contingent Beneficiary designated irrevocably may not be changed without the written consent of that Beneficiary, or Contingent Beneficiary, as applicable, except as allowed by law.

For Contracts owned by Non-Grantor Trusts, the Owner will at all times be the Beneficiary.

Restricted Beneficiary Payout Options

You may also pre-select the form of Death Benefit payout that a specific Beneficiary or Contingent Beneficiary may receive (“Restricted Beneficiary Payout Options”). Restricted Beneficiary Payout Options allow the Owner to choose the percent of a lump sum payment of the applicable Death Benefit (from 0% to 100%) that may be accessed by a specific Beneficiary or Contingent Beneficiary, and/or which of the payout options provided under the Contract must apply to a specific Beneficiary or Contingent Beneficiary upon the Owner’s death. You may select Restricted Beneficiary Payout Options at Contract issuance or at a later time.

Restricted Beneficiary Payout Options are only available to Contracts owned by natural persons or Grantor Trusts. Requests for Restricted Beneficiary Payout Options must be submitted in writing and signed by the Owner (including the Joint Owner, if applicable), and may be modified or cancelled at any time by the Owner prior to the Annuity Commencement Date or Owner’s death. Restricted Beneficiary Payout Options only become irrevocable upon the death of the Owner, and if applicable, the Joint Owner. Assignment of the Contract or transfer of Contract ownership while the Owner is still alive will result in cancellation of all Restricted Beneficiary Payout Options.

Restricted Beneficiary Payout Options may not be selected for Contracts owned by Joint Owners unless both Joint Owners request in writing. Restricted Beneficiary Payout Options may allow restrictions to be placed on a surviving Spouse who is not a Joint Owner, such as restricting the type of death benefit received or designating someone other than the Spouse as Beneficiary, and may impact the ability of a surviving Spouse who is not a Joint Owner to become Owner of the Contract. Restricted Beneficiary Payout Options may have adverse or unintended tax or financial consequences on a surviving Spouse who is not a Joint Owner if the surviving Spouse is not the designated Beneficiary because the surviving Spouse would not be entitled to receive Death Benefits or have the ability to become Owner of the Contract.

Restricted Beneficiary Payout Options are irrevocable upon the death of the Owner, and if applicable, the Joint Owner, and cannot be changed by a non-Owner unless required under the Code or other applicable law. Under the Code, Death Benefit payments must begin within one year of the date the Death Benefit becomes payable for Non-Qualified Contracts, and by no later than December 31 of the year following the year in which the Death Benefit becomes payable for Qualified Contracts. Failure to adhere to this timing may prevent us from giving effect to Restricted Beneficiary Payout Options. Failure to provide Proof of Death to us may cause a delay in beginning payments, force amendment to payout options selected, or nullify Restricted Beneficiary Payout Options.

We reserve the right to modify or cancel any Restricted Beneficiary Payout Options in order to comply with requirements of the Code, and/or other applicable state and federal laws, rules, and regulations. All Death Benefit payments will be made in compliance with the Code, and/or other applicable state and federal laws, rules, and regulations governing death benefit payouts, including those affecting minor Beneficiaries.

You should consult with a competent advisor regarding whether Restricted Beneficiary Payout Options are suitable for your needs.

This feature is available under your existing Contract if you acquired your Contract before May 1, 2019, as well as for new Contracts. If you are interested in the Restricted Beneficiary Payout Options feature, please contact the Service Center to elect the endorsement.

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Distribution of Death Benefit (for all Contracts other than Non-Qualified Stretch Annuities)

(For the distribution of Death Benefit rules applicable to Non-Qualified Stretch Annuities, see below.)

Any Death Benefit payable to a Beneficiary upon the Owner’s death will be distributed as follows:

(1)

 If the Owner’s surviving Spouse is the person entitled to receive benefits upon the Owner’s death, the surviving Spouse will be treated as the Owner and will be allowed to take the Death Benefit or continue the Contract in force. However, if single life GAW Installments have been selected for the Income Segment, then the GLWB will terminate and the assets held in the Covered Funds will be sold and the sales proceeds will be transferred to the Schwab Government Money Market Portfolio Sub-Account;

 

(2)

 If the Owner died on or before December 31, 2019: If a non-Spouse individual is the person entitled to receive benefits upon the Owner’s death, the non-Spouse individual Beneficiary may elect to receive the Death Benefit in either a single sum or payout under any of the variable annuity options available under the Contract, provided that: (a) such annuity is distributed in substantially equal installments over the life or life expectancy of the Beneficiary; and (b) such distributions begin no later than one year after the Owner’s date of death. The GLWB will terminate and the assets held in the Covered Funds will be sold and the sales proceeds will be transferred to the Schwab Government Money Market Portfolio Sub-Account. If Great-West does not receive an election from an individual non-Spouse Beneficiary such that substantially equal installments have begun no later than one year after the Owner’s date of death, then the entire amount must be distributed within five years of the Owner’s date of death.

 If the Owner dies after December 31, 2019: If a non-Spouse individual who qualifies as an EDB is the person entitled to receive benefits upon the Owner’s death, the non-Spouse individual EDB may elect to receive the Death Benefit in either a single sum or payout under any of the variable annuity options available under the Contract, provided that (a) such annuity is distributed in substantially equal installments over the life or life expectancy of the EDB; and (b) such distributions begin no later than one year after the Owner’s death. The GLWB will terminate and the assets held in the Covered Fund(s) will be sold and the sales proceeds will be transferred to the Schwab Government Money Market Sub-Account. If Great-West does not receive an election from an individual non-Spouse EDB to begin substantially equal installments no later than one year after the Owner’s date of death or if the non-Spouse Beneficiary is not an EDB, then the entire amount must be distrusted with ten years of the Owner’s date of death.

  See “Restricted Beneficiary Payout Options” above for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

The Death Benefit will be determined as of the date we receive a Request for the payout of the Death Benefit.

If a Joint Annuitant is named, any reference below to death of the Annuitant means the death of the last surviving Joint Annuitant and the rules below regarding “Death of Owner Who is Not the Annuitant” will apply upon the death of the Owner rather than the rules below regarding the “Death of Owner Who Is the Annuitant.”

Death of Annuitant Who is Not the Owner of the Contract

Upon the death of the Annuitant while the Owner is living, and before the Annuity Commencement Date, no Death Benefit will be payable and the Owner (or the Grantor, if the Owner is a Grantor Trust) will become the Annuitant unless a Contingent Annuitant has previously been designated. The Owner may designate a new Annuitant, however, at any time, as provided in the Contract.

If the Owner names a Contingent Annuitant prior to the Annuitant’s death, and the Annuitant dies before the Annuity Commencement Date while the Owner and Contingent Annuitant are living, no Death Benefit will be payable and the Contingent Annuitant will become the Annuitant.

If the Annuitant died on or before December 31, 2019 after the Annuity Commencement Date and before the entire interest has been distributed, any benefit payable must be distributed to the Beneficiary according to and as rapidly as under the payout option which was in effect on the Annuitant’s date of death.

If the Annuitant dies after December 31, 2019 after the Annuity Commencement Date and before the entire interest has been distributed, any benefit payable to an EDB may be distributed to the EDB in substantially equal installments over the life or the life expectancy of the EDB provided the EDB makes such election and such distributions begin no later than one year after the Annuitant’s date of death; otherwise, the entire benefit amount must be distributed within ten years of the Annuitant’s date of death. If the Beneficiary is not an EDB, the entire benefit amount must be distributed within ten years of the Annuitant’s date of death.

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Death of Owner Who Is Not the Annuitant

If the Owner dies before annuity payouts commence and there is a Joint Owner who is the surviving Spouse of the deceased Owner, the Joint Owner becomes the Owner and Beneficiary and the Joint Owner may elect to take the Death Benefit or to continue the Contract in force.

In all other cases, we will pay the Death Benefit to the Beneficiary even if a Joint Owner (who was not the Owner’s Spouse on the date of the Owner’s death), the Annuitant and/or the Contingent Annuitant are alive at the time of the Owner’s death, unless the sole Beneficiary is the deceased Owner’s surviving Spouse who may elect to become the Owner and Annuitant and to continue the Contract in force.

If the Owner dies after annuity payouts commence and before the entire interest has been distributed while the Annuitant is living, any benefit payable will continue to be distributed to the Annuitant as rapidly as under the payout option applicable on the Owner’s date of death. All rights granted the Owner under the Contract will pass to any surviving Joint Owner and, if none, to the Annuitant.

Death of Owner Who Is the Annuitant

If there is a Contingent Annuitant and a Joint Owner who is the surviving Spouse of the deceased Owner, the Joint Owner will become the Owner and the Beneficiary, the Contingent Annuitant will become the Annuitant, and the Contract will continue in force.

If there is a Joint Owner who is the surviving Spouse of the deceased Owner but no Contingent Annuitant, the Joint Owner will become the Owner, Annuitant, and Beneficiary and may elect to take the Death Benefit or continue the Contract in force.

In all other cases, we will pay the Death Benefit to the Beneficiary, even if a Joint Owner (who was not the Owner’s Spouse on the date of the Owner’s death) and/or Contingent Annuitant are alive at the time of the Owner’s death, unless the sole Beneficiary is the deceased Owner’s surviving Spouse who may elect to become the Owner and Annuitant and to continue the Contract in force.

If Owner/Annuitant Dies After Annuity Commencement Date

If the Owner/Annuitant died on or before December 31, 2019 and after the Annuity Commencement Date, any benefit payable must be distributed to the Beneficiary in accordance with and at least as rapidly as the annuity option in effect on the date of death.

If the Owner/Annuitant dies after December 31, 2019 and after the Annuity Commencement Date, any benefit payable to an EDB must be distributed to the EDB in substantially equal installments over the life or life expectancy of the EDB, provided the EDB makes such election and such distributions begin no later than one year after the Owner/Annuitant’s date of death; otherwise, the entire benefit amount must be distributed within ten years of the Owner/Annuitant’s date of death. If the Beneficiary is not an EDB, the entire benefit amount must be distributed within ten years of the Owner/Annuitant’s date of death.

Contingent Annuitant

While the Annuitant is living, you may, by Request, designate or change a Contingent Annuitant from time to time. A change of Contingent Annuitant will take effect as of the date the Request is processed, unless you specify a certain date. Please note you are not required to designate a Contingent Annuitant.

Deferred Payment

If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance Law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by Great-West on proceeds left on deposit under the interest settlement option.

Impact of Withdrawals on Guaranteed Minimum Death Benefit (Option 2)

Death Benefit Option 2, which costs more than Death Benefit Option 1, is designed for those who want to potentially receive a higher Death Benefit in the event that the sum of Contributions exceeds Annuity Account Value. If you have selected Death Benefit Option 2, you should be aware that distributions and Excess Withdrawals will reduce your Death Benefit on a pro-rata basis.

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Numerical Example

Sum of Contract and GLWB Rider Contributions = $50,000

Annuity Account Value = $40,000

Withdrawal amount = $4,000

New Annuity Account Value = $36,000

Adjustment to Death Benefit = ($40,000 - $4,000)/$40,000 = 0.90

Guaranteed Minimum Death Benefit = $45,000 ($50,000 x 0.90)

The Benefit Base has no value and will not affect the Death Benefit.

Distribution of Death Benefit for Non-Qualified Stretch Annuities

(For the distribution of Death Benefit rules applicable to all Contracts other than Non-Qualified Stretch Annuities, see above.)

If the Owner of a Contract held as a Non-Qualified Stretch Annuity dies before the Annuity Commencement Date:

(1)

 If there is a Joint Owner who is a surviving Spouse of the deceased Owner, the Joint Owner will become the Owner and the Beneficiary and may take the Death Benefit or elect to continue the Contract in force.

(2)

 In all other cases, we will pay the Death Benefit to the Beneficiary even if a former Spouse Joint Owner, the Annuitant, and/or the Contingent Annuitant are alive at the time of the Owner’s death unless the sole Beneficiary is the deceased Owner’s surviving Spouse and such Beneficiary Requests to become the Owner and the Annuitant and to continue the Contract in force.

Any Death Benefit payable to the Beneficiary upon the Owner’s death will be distributed as follows:

(1)

 If the Owner’s surviving Spouse is the Beneficial Owner upon the death of the Owner, the surviving Spouse will be allowed to take the Death Benefit or continue the Contract in force; or

(2)

 If a non-Spouse natural person is the Beneficial Owner upon the death of the Owner, the Beneficial Owner may elect to continue the Contract by electing to have any portion of the value of the deceased Owner’s Contract payable to the Beneficial Owner over a period not extending beyond the Beneficial Owner’s life expectancy as defined by the Code (the ‘Stretch Payout Period’).

The Stretch Payout Period must begin no later than one year after the date of the deceased Owner’s death and payments during the Stretch Payout Period will be made to the Beneficial Owner at least annually. Notwithstanding any prior distribution election, a Beneficial Owner may at any time (a) withdraw the entire remaining value of the Contract in a single sum, or (b) withdraw additional amounts which may result in the reduction of future payments because of the reduction of the value of the Contract.

If we do not receive an election from a non-Spouse Beneficial Owner such that substantially equal installments have begun no later than one year after the date of the deceased Owner’s death, then the entire amount must be distributed within five years of the deceased Owner’s date of death.

See “Restricted Beneficiary Payout Options” above for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

The Death Benefit will be determined as of the Annuity Commencement Date.

Ownership and Assignment

The Owner, and if selected, Joint Owner, exercise all rights and privileges under the Contract, while the Annuitant is living. For Qualified Annuity Contracts, the Owner may not be changed and the Contract may not be transferred, sold, assigned, pledged, charged, encumbered, or in any way alienated. For Non-Qualified Annuity Contracts, the Contract may be assigned at any time before the Owner’s death.

A change of Owner must be made in writing in a form satisfactory to us. The change will take effect as of the date the Request is processed, unless you specify a certain date. Any change is subject to any payout or other action we have taken before recording your ownership change. For Non-Qualified Annuity Contracts, a change in the Owner of the Contract will result in termination of the GLWB Rider if the Covered Person(s) is/are changed. See “Termination of the GLWB Rider” below. You should discuss with a competent tax advisor how changes in ownership would impact your benefits under the Contract.

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Grantor Trust Owned Annuity

We will issue the Contract to Grantor Trusts. Ownership may later be changed to a Grantor Trust after Contract issuance. We will allow a Grantor Trust to be the Owner only if it either has a single Grantor who is a natural person, or has two Grantors who are one another’s Spouse as of the Effective Date. When the Contract is issued to a Grantor Trust, a Grantor of the trust must be an Annuitant, and the Grantor’s spouse may be named as a Joint Annuitant. The Annuitant(s) may not be changed. Contracts owned by a Grantor Trust are not considered owned by a non-natural person and will be subject to the tax requirements generally applicable to Non-Qualified Annuity Contracts or the tax requirements applicable to individual retirement annuities or Roth IRA annuities if the Contract is a Qualified Annuity Contract under Section 408(b) of the Code or a Roth IRA annuity under Section 408A of the Code. Grantor Trust owned Contracts receive tax deferral in accordance with the Code. Upon the death of the Grantor(s), the Death Benefit will be paid pursuant to the Death Benefit provisions of the Contract.

Non-Grantor Trust Owned Annuity

We will issue the Contract to Non-Grantor Trusts. Ownership may later be changed to a Non-Grantor Trust by endorsement after Contract issuance. Contracts owned by a Non-Grantor Trust are considered owned by a non-natural entity and will generally not be treated as an annuity for tax purposes. If a trust is a Non-Grantor Trust, the trust is treated as the owner of the trust assets, the trust is regarded as a separate tax entity with its own Tax Identification Number, and all income, including any increase in Annuity Account Value, is generally taxable as ordinary income to the trust during each taxable year. However, the IRS has issued a number of private letter rulings holding that in the case of a contract the nominal owner of which is a non-natural entity (e.g., a corporation or a trust), but the beneficial owner of which is a natural person, the contract generally will be treated as held by a natural person. We will issue this Contract only to a Non-Grantor Trust that holds the Contract as agent for a natural person. You should consult with your tax advisor as to whether your Non-Grantor Trust satisfies the exception to the non-natural owner rule.

If a Non-Grantor Trust owns the Contract, the grantor will be the Annuitant unless otherwise indicated in the application. If the Owner is a Non-Grantor Trust, all references to the life, age, or death of the Owner pertain to the life, age, or death of the Annuitant, and where there are Joint Annuitants, shall pertain to the older Joint Annuitant. Also, if a Non-Grantor Trust owns the Contract, then the Owner will at all times be the Beneficiary. Once selected, the Annuitant may not be changed. If there is a change of ownership of the Contract from a Non-Grantor Trust to a natural person, the original Annuitant and/or Joint Annuitant shall continue to determine any benefits under the Contract and GLWB Riders. Upon the death of the Annuitant, the Death Benefit will be paid to the Owner pursuant to the Death Benefit provisions of the Contract. Upon the death of either Joint Annuitant, the Contract will continue with the remaining single Annuitant in accordance with the death distribution rules under the Code unless the Owner elects to receive the Death Benefit. Divorce provisions of the Contract and GLWB Riders are not applicable to Non-Grantor Trust owned Contracts. Spousal continuation of the Contract is not applicable to Contracts owned by a Non-Grantor Trust. A Non-Grantor Trust cannot own a Qualified Contract.

A Non-Grantor Trust owned annuity is not available under your existing Contract if you acquired the Contract before May 1, 2019. If you are interested in the Non-Grantor Trust endorsement, please contact the Service Center to discuss availability of the endorsement by exchange of your Contract for one issued after May 1, 2019.

Non-Qualified Stretch Annuities

A Contract may be acquired as a Non-Qualified Stretch Annuity, only by a natural person beneficiary of a non-qualified annuity contract (the “Beneficial Owner”) pursuant to a 1035 Exchange of the beneficiary’s interest after death of the owner (“source contract”). For more information on 1035 Exchanges, see “Seek Tax Advice, Section 1035 Exchanges” below. We will issue the Non-Qualified Stretch Annuity in the name of the deceased owner with the beneficiary as the Beneficial Owner. We must receive the full death benefit and the information we require from the insurance company that issued the source contract in sufficient time to allow us to begin making life expectancy payments under the Non-Qualified Stretch Annuity Contract.

A Beneficial Owner may not be a non-natural entity such as a Grantor Trust or Non-Grantor Trust. A Beneficial Owner of a Non-Qualified Stretch Annuity Contract may designate a Successor Beneficiary who is entitled to receive the Beneficial Owner’s remaining interest in the Contract upon the death of the Beneficial Owner. A Successor Beneficiary may not be a non-natural entity.

Non-Qualified Stretch Annuity Beneficial Owners may not elect a GLWB Rider or make Contributions to the Income Strategy. You should consult with a qualified tax professional before purchasing the Contract as Non-Qualified Stretch Annuity.

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Non-Qualified Stretch Annuity ownership is not available under your existing Contract if you acquired the Contract before May 1, 2019. If you are interested in the Non-Qualified Stretch Annuity endorsement, please contact the Service Center to discuss availability of the endorsement by exchange of your Contract for one issued after May 1, 2019.

Inherited IRAs

The Contract may only be acquired by a natural person beneficiary of the original contract upon the original owner’s death. Inherited IRAs will be administered according to the Code, including restricting Contributions and the administration of Required Minimum Distributions. Inherited IRA Owners may not elect a GLWB Rider or make Contributions to an Income Strategy. You should consult with a qualified tax professional before acquiring the Contract as an inherited IRA.

Inherited IRA annuity ownership is available for existing Contracts acquired before May 1, 2019, as well as for new Contracts. If you are interested in owning the Contract as an Inherited IRA, please contact the Service Center to discuss availability by exchange of your Contract.

Joint Annuitants

If the Contract is a Non-Qualified Annuity Contract, you are permitted to name a Joint Annuitant. Joint Annuitants may be named in the application or any time before the Annuity Commencement Date. Joint Annuitants must be one another’s Spouse as of the Effective Date.

Charges and Deductions

No amounts will be deducted from your Contributions except for any applicable Premium Tax. As a result, the full amount of your Contributions (less any applicable Premium Tax) is invested in the Contract.

As more fully described below, charges under the Contract are assessed only as deductions for:

•Premium Tax, if applicable; and/or

•Charges against your Annuity Account Value for our assumption of mortality and expense risks; and/or

•Guarantee Benefit Fee, if applicable.

Mortality and Expense Risk Charge

The mortality risk we assume is that Annuitants may live for a longer period of time than we estimate. We assume this mortality risk from our contractual obligations to make annuity payouts determined in accordance with the annuity tables and other provisions contained in the Contract which cannot be changed. This means that you can be sure that neither the Annuitant’s longevity nor an unanticipated improvement in general life expectancy will adversely affect the annuity payouts under the Contract. The expense risk we assume is the risk that our actual expenses in administering the Contracts and the Series Account will be greater than we anticipated.

To compensate us for assuming these risks, we deduct a Mortality and Expense Risk Charge from your Annuity Account Value at the end of each valuation period. If you select Death Benefit Option 1, this is a daily charge equal to an effective annual rate of 0.65%. We guarantee that this charge will never increase beyond 0.65%. If you select Death Benefit Option 2, the Mortality and Expense Risk Charge is a daily charge equal to an effective annual rate of 0.85%. We guarantee that this charge will never increase beyond 0.85%.

The Mortality and Expense Risk Charge is reflected in the unit values of each of the Sub-Accounts you have selected. Thus, this charge will continue to be applicable should you choose a variable annuity payout option or a periodic withdrawal option.

Annuity Account Values and annuity payouts are not affected by changes in actual mortality experience we incur.

The Mortality and Expense Risk Charge is higher for Owners who have selected Death Benefit Option 2 because we bear substantial risk in connection with that option. Specifically, we bear the risk that we may be required to pay an amount to your Beneficiary that is greater than your Annuity Account Value.

If the Mortality and Expense Risk Charge is insufficient to cover actual costs and risks assumed, we will bear the loss. If this charge is more than sufficient, any excess will be profit for us. Currently, we expect a profit from this charge. Our expenses for distributing the Contracts will be borne by our general assets, which include any profits from this charge.

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Expenses of the Portfolios

The values of the assets in the Sub-Accounts reflect the values of the Sub-Accounts’ respective Portfolio shares and therefore the fees and expenses paid by each Portfolio. Fees and expenses are deducted from the assets of the Portfolios and are described in each Portfolio's prospectus. You bear these costs indirectly when you allocate to a Sub-Account.

Some of the Portfolios’ investment advisers or administrators may compensate Protective for providing administrative services in connection with the Portfolios or cost savings experienced by the investment advisers or administrators of the Portfolios. Such compensation is typically a percentage of the value of the assets invested in the relevant Sub-Accounts and generally may range up to 0.35% annually of net assets. Prior to October 5, 2020, GWFS Equities, Inc. (“GWFS”),a broker-dealer and affiliate of Great-West of New York, served as the principal underwriter and distributor of the Contract. After October 5, 2020,the principal underwriter and distributor of the Contract is Investment Distributors, Inc. (“IDI”), a subsidiary of Protective Life Corporation (“PLC”), the parent of Protective. IDI is a Tennessee Corporation and was established in 1993. IDI may also receive Rule 12b-1 fees (ranging up to 0.25% annually of net assets) directly from certain Portfolios for providing distribution related services related to shares of the Portfolios offered in connection with a Rule 12b-1 plan. If IDI receives Rule 12b-1 fees, combined compensation received by Protective for administrative services and received by IDI for distribution related services generally ranges up to 0.60% annually of the assets invested in the relevant Sub-Accounts. Due to the varying nature of this compensation, the annual rate paid under this fee alternative is higher for certain Sub-Accounts than for other Sub-Accounts. This may create a conflict of interest by influencing Schwab representatives to recommend certain Sub-Accounts over other Sub-Accounts.

Premium Tax

We may be required to pay state Premium Taxes or retaliatory taxes currently ranging from 0% to 3.5% in connection with Contributions or values under the Contracts. Currently, due to our total mix of business, our Premium Tax rate in New York for annuities is 0%. In the future, if we are required to pay Premium Taxes, we will deduct the charges for the Premium Taxes we incur with respect to your Contributions from amounts withdrawn or from annuity payments.

Other Taxes

Under present laws, we will incur state or local taxes (in addition to the Premium Tax described above) in New York. No charges are currently deducted for taxes other than Premium Tax. However, we reserve the right to deduct charges in the future for federal, state, and local taxes or the economic burden resulting from the application of any tax laws that we determine to be attributable to the Contract.

Payout Options

During the Distribution Period, you can choose to receive payouts in three ways—through periodic withdrawals, variable annuity payouts or a single, lump-sum payment.

You may change the Payout Commencement Date within 30 days prior to commencement of payouts. The Annuity Commencement Date may not be earlier than 13 months after the Effective Date of the Contract.

Periodic Withdrawals

You may Request that all or part of the Investment Segment Account Value be applied to a periodic withdrawal option. All Requests for periodic withdrawals must be in writing. The amount applied to a periodic withdrawal is the Investment Segment Account Value, less Premium Tax, if any.

In Requesting periodic withdrawals, you must elect:

•The withdrawal frequency of either 1-, 3-, 6- or 12-month intervals;

•A minimum withdrawal amount of at least $100;

•The calendar day of the month on which withdrawals will begin;

•One of the periodic withdrawal payout options discussed below  —  you may change the withdrawal option and/or the frequency once each calendar year; and

•The type of allocation of withdrawals from the Investment Segment Sub-Accounts

•Withdrawals may be prorated across the Investment Segment Sub-Accounts in proportion to their assets; or

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•Withdrawals may be made from specific Investment Segment Sub-Account(s). When the specified Investment Segment Sub-Account(s) is depleted, we will automatically prorate the remaining withdrawals against any remaining Sub-Account assets unless you Request otherwise.

While periodic withdrawals are being received:

•You may continue to exercise all contractual rights.

•You may keep the same Sub-Accounts as you had selected before periodic withdrawals began.

•Charges and fees under the Contract continue to apply.

Periodic withdrawals will cease on the earlier of the date:

•The amount elected to be paid under the option selected has been reduced to zero.

•The Investment Segment Account Value is zero.

•You Request that withdrawals stop.

•You purchase an annuity payout option.

•The Owner dies.

We may limit the number of times you may restart a periodic withdrawal program.

Periodic withdrawals made for any purpose may be taxable, subject to withholding and to the 10% federal penalty tax if you are younger than age 59 1∕2.

If you choose to receive payouts from your Contract through periodic withdrawals, you may select from the following payout options:

Income for a specified period (at least 36 months) — You elect the length of time over which withdrawals will be made. The amount paid will vary based on the duration you choose. The amount paid will also vary as a result of investment performance.

Income of a specified amount (at least 36 months) — You elect the dollar amount of the withdrawals. Based on the amount elected, the duration may vary. The duration may also vary as a result of investment performance.

Any other form of periodic withdrawal acceptable to Great-West which is for a period of at least 36 months.

Annuity Payouts From the Investment Segment

You can choose the date that you wish annuity payouts from the Investment Segment to start (the Payout Election Date) either when you purchase the Contract or at a later date. You can change your selection at any time up to 30 days before the annuity date that you have selected.

If you do not select a Payout Election Date, payouts will begin on the Annuitant’s 99th birthday. If the Owner does not initiate Installments under the GLWB Rider, the entire Annuity Account Value will be annuitized at that time and any benefit under the GLWB Rider will terminate. If you have initiated Installments under the GLWB Rider, only the Investment Segment will be annuitized. Once Installments under the GLWB Rider have begun, the Income Segment cannot be annuitized.

If you have not elected a payout option within 30 days of the Annuity Commencement Date, your Investment Segment Account Value will be paid out as a variable life annuity with a guaranteed period of 15 years.

The amount to be paid out will be based on the Investment Segment Account Value or Annuity Account Value, if applicable, on the Annuity Commencement Date. The minimum amount that may be withdrawn from the Investment Segment Account Value to purchase an annuity payout option is $2,000. If your Investment Segment Account Value is less than $2,000, we may pay the amount in a single sum subject to the Contract provisions applicable to a partial withdrawal.

If you choose to receive variable annuity payouts from your Contract, you may select from the following payout options:

Variable life annuity with guaranteed period—This option provides for payouts during a guaranteed period or for the lifetime of the Annuitant, whichever is longer. The guaranteed period may be 5, 10 or 15 years. Upon the death of the Annuitant, the Beneficiary will receive the remaining payouts at the same interval elected by the Owner.

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Variable life annuity without guaranteed period—This option provides payouts during the lifetime of the Annuitant. The annuity terminates with the last payout due prior to the death of the Annuitant. Because no minimum number of payouts is guaranteed, this option may offer the maximum level of payouts. It is possible that only one payout may be made if the Annuitant dies before the date on which the second payout is due. If the Annuitant who is also the Owner dies before the Annuity Commencement Date, the Death Benefit will be payable to the Beneficiary. If the Owner is living and the Annuitant dies before the Annuity Commencement Date, the Owner will become the Annuitant, the Contract will continue, and no Death Benefit will be payable.

Any other form of variable annuity payout that is acceptable to Great-West.

Under an annuity payout option, you can receive payouts monthly, quarterly, semi-annually or annually in payments which must be at least $50. We reserve the right to make payouts using the most frequent payout interval which produces a payout of at least $50. Once annuity payouts commence, you cannot make Contributions or take withdrawals, other than your annuity payouts, but you may continue to Transfer among and between Sub-Accounts.

If you elect to receive a single sum payment, the amount paid is the Surrender Value.

Amount of First Variable Payout

The first payout under a variable annuity payout option will be based on the value of the amounts held in the Investment Segment Sub-Accounts or Annuity Account, if applicable, you have selected on the first valuation date preceding the Annuity Commencement Date. We determine the first payout under a variable annuity option by applying the appropriate rate to the amount applied under the payout option. The rate applied reflects an assumed investment return (“AIR”) of 2.5%.

For annuity options involving life income, the actual age, year in which annuitization commences and gender of the Annuitant will affect the amount of each payout. We reserve the right to ask for satisfactory proof of the Annuitant’s age. We may delay annuity payouts until satisfactory proof is received. Because payouts to older Annuitants are expected to be fewer in number, the amount of each annuity payout under a selected annuity form will be greater for older Annuitants than for younger Annuitants.

If the age of the Annuitant has been misstated, the payouts established will be made on the basis of the correct age. If payouts were too large because of misstatement, we may deduct the difference with interest us from the next payout or payouts. If payouts were too small, we may add the difference with interest to the next payout. The interest rate used will be 3%.

If the Owner dies before the Annuity Commencement Date (i.e., the day the first variable annuity payout is made) and if there is a Joint Owner who is a surviving Spouse of the deceased Owner, the Joint Owner becomes the Owner and Beneficiary. The Joint Owner may elect to take the Death Benefit or continue the contract in force. In all other cases, we will pay the Death Benefit to the Beneficiary.

If the Owner who is not the Annuitant dies after the Annuity Commencement Date, any benefit payable will continue to be distributed to the Annuitant on the same schedule as under the payout option applicable on the Owner’s date of death. All rights granted the Owner under the Contract will pass to any surviving Joint Owner, and if none, to the Annuitant.

If the Owner who is the Annuitant dies after the Annuity Commencement Date, any benefit payable will be distributed to the Beneficiary if a guarantee period was part of the selected annuity option. If there was no guarantee period elected, payments will cease.

For complete descriptions, see the Distribution of Death Benefit section above.

Annuity Units

We determine the number of Annuity Units paid for each Sub-Account by dividing the amount of the first payout by its Annuity Unit value on the first valuation date preceding the Annuity Commencement Date. The number of Annuity Units used to calculate each payout for a Sub-Account remains fixed during the Annuity Payout Period.

Amount of Variable Payouts After the First Payout

Payouts after the first will vary depending upon the investment performance of the Investment Segment Sub-Accounts or Annuity Account, if applicable. Your payouts will increase in amount over time if the Sub-Accounts you select earn more than the 2.5% AIR. Likewise, your payouts will decrease over time if the Sub-Accounts you select earn less than the 2.5% AIR. We determine the subsequent amount paid from each Sub-Account by comparing the actual performance of the Sub-Account to the AIR.

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Transfers After the Variable Annuity Commencement Date

Once annuity payouts have begun, Transfers may be made within the variable annuity payout option among the available Investment Segment Sub-Accounts. Transfers after the Annuity Commencement Date will be made by converting the number of Annuity Units being Transferred to the number of Annuity Units of the Investment Segment Sub-Account to which the Transfer is made. The result will be that the next annuity payout, if it were made at that time, would be the same amount that it would have been without the Transfer. Thereafter, annuity payouts will reflect changes in the value of the new Annuity Units.

Other Restrictions (Investment Segment Only)

Once payouts start from the Investment Segment under the annuity payout option you select:

•no changes can be made in the payout option;

•no additional Contributions to the Investment Segment will be accepted under the Contract; and

•no further withdrawals, other than withdrawals made to provide annuity benefits or satisfy the terms of the GLWB Rider, will be allowed.

A portion or the entire amount of the annuity payouts may be taxable as ordinary income. If on the Annuity Commencement Date we have not received a proper written election not to have federal income taxes withheld, we must by law withhold such taxes from the taxable portion of such annuity payouts and remit that amount to the federal government. State income tax withholding may also apply. Please see “Federal Tax Matters” below.

Guaranteed Lifetime Withdrawal Benefit

On any business day prior to your 86th birthday, you have the option of electing the GLWB rider by either allocating Contributions to one or more Covered Funds in the Income Segment at your direction, or by Transferring all or part of your Investment Segment Account Value to one or more Covered Funds in the Income Segment at your direction. There is no minimum percent of Annuity Account Value or minimum dollar amount that must be allocated to the Income Segment when electing the GLWB Rider. You are under no obligation to elect the GLWB Rider. If you choose to elect the GLWB Rider, you may do so immediately upon Contract purchase (for example, if you are interested in locking in your Benefit Base early, if you prefer to begin taking guaranteed income soon, or if you are interested in the Contract primarily for the GLWB features rather than in the Investment Segment Sub-Account options), or you may wait to elect the GLWB Rider at a later time. If you exercise this option, the GLWB Rider will provide you with a Guaranteed Lifetime Withdrawal Benefit, provided all conditions, described below, are met.

For applications signed before May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Covered Fund Value. For applications signed on or after May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Benefit Base. Provided all conditions are met, the GLWB Rider provides an annual withdrawal amount that is guaranteed for the lifetime of the Covered Person(s) according to a fixed schedule that varies the GAW% with the age of the Covered Person(s).

The GAW% and Joint GAW% applicable to you are disclosed in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract (and satisfied other terms described in this paragraph). In order to receive the disclosed GAW% or Joint GAW%, your application must be signed after the date stated in the Rate Sheet Supplement, your application must be received by us within 10 days of signing, and your initial Contribution must be received by us within 30 days of receipt of your application. If these terms are met, the disclosed rates will apply to your Contract and cannot be changed. Terms reflected in Rate Sheet Supplements that were not in effect at such time will not apply to your Contract. The terms of a Rate Sheet Supplement (including the GAW%s and Joint GAW%s) with no specified end date may not be amended unless we provide a minimum of 10 business days prior notice.

The current Rate Sheet Supplement may be found on the SEC’s website (www.sec.gov) by searching with File Number 333-194044. You may contact us at the Service Center for a Rate Sheet Supplement applicable to your Contract. As available, historical GAW%s and Joint GAW%s reflected in Rate Sheet Supplements may be found in the Appendix to this Prospectus entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements”, as well as on the SEC’s website (www.sec.gov) by searching with File Number 333-194044.

All guarantees are subject to the claims paying ability of Great-West.

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GLWB Accumulation Phase

The GLWB Accumulation Phase begins when you make a GLWB election by investing in any Covered Funds in the Income Segment. The GLWB Accumulation Phase ends when you elect to begin taking GAWs. During the Accumulation Phase, a Benefit Base will be established which will be used later to determine, in part, the amount of your GAWs. You may elect the GLWB by allocating Contributions or Transferring Investment Segment Account Value to the Covered Funds on any Business Day as long as you are younger than age 86 on the GLWB Rider Election Date. We will record the GLWB Rider Election Date.

Guarantee Benefit Fee

The annual Guarantee Benefit Fee is assessed quarterly, in arrears, during the GLWB Accumulation Phase and GAW Phase. One-fourth of the Guarantee Benefit Fee is deducted quarterly from your Covered Fund Value no later than the 10th Business Day of the month following the calendar quarter end by means of the cancellation of Accumulation Units. The Guarantee Benefit Fee will be calculated based on your Covered Fund Value (for applications signed before May 1, 2017) or the Benefit Base (for applications signed on or after May 1, 2017), subject to the Benefit Base cap, as of the date of the deduction. The Benefit Base may or may not equal the Covered Fund Value at the time the Guarantee Benefit Fee is calculated. The Benefit Base will always be greater than or equal to the Covered Fund Value when the Guarantee Benefit Fee is calculated on a Ratchet Date. We reserve the right to change the frequency of the deduction upon sixty (60) days prior written notice. The Guarantee Benefit Fee will not be assessed during the GLWB Settlement Phase.

The first Guarantee Benefit Fee you pay will be pro-rated based on the portion of the quarter in which you allocated Contributions to the Covered Funds. The current Guarantee Benefit Fee is 1.00% of the Covered Fund Value (for applications signed before May 1, 2017) or 0.90% of the Benefit Base (for applications signed on or after May 1, 2017) held in the Income Segment. We reserve the right to change the frequency and amount of the Guarantee Benefit Fee upon sixty (60) days prior written notice to you. However, the Guarantee Benefit Fee will never be less than 0.70% or greater than 1.50% of your Income Segment Covered Fund Value (for applications signed before May 1, 2017) or less than 0.00% or greater than 1.50% of your Benefit Base (for applications signed on or after May 1, 2017). We determine the Guarantee Benefit Fee based on observations of a number of long-term experience factors, including, but not limited to, investment income, expense, mortality, morbidity and persistency. As an example, if mortality experience improves faster than we have anticipated, and the population in general is expected to live longer than initially projected, we might increase the Guarantee Benefit Fee to reflect our increased probability of paying longevity benefits. However, improvements in mortality experience is provided as an example only. We will never increase the fee above the maximum or decrease the fee below the minimum disclosed in the Fee Tables at the beginning of this Prospectus.

You may reject an increase to the Guarantee Benefit Fee by providing a prior written notice to us requesting to withdraw or transfer the entire Covered Fund Value, thereby reducing the Benefit Base to zero and terminating the Rider. If you do not expressly reject an increase to the Guarantee Benefit Fee, the new fee will apply as of the date stated in the notice and you will retain all current features and benefits of the Rider, including continued access to all available Covered Fund(s). Any election to reject the increased Guarantee Benefit Fee will be deemed an election to terminate the Rider, which election shall be irrevocable.

Unless otherwise stated, any change to the fee will affect all assets in the Covered Funds in the Income Segment.

If you terminate the GLWB Rider, a final pro-rated Guarantee Benefit Fee will be deducted based on the portion of the last quarter that the GLWB Rider was in effect.

The Covered Funds

The GLWB Rider provides protection relating to your Covered Funds by ensuring that, regardless of how your Covered Funds actually perform or the actual Covered Fund Value when you begin your GAWs for retirement or other purposes, you will receive predictable income payments for as long as you live so long as specified conditions are met.

The Covered Funds may be managed in a more conservative fashion than other Portfolios available to you, which may reduce overall volatility in investment performance, may reduce investment returns and may reduce the likelihood that we will be required to make payments under the GLWB Rider. The reduction in volatility permits us to more effectively provide the guarantees under the Rider. If you do not purchase the GLWB Rider, it is possible that you may invest in other Portfolios that experience higher growth or lower losses, depending on the market, than the Covered Funds’ experience. It is impossible to know how various investments will fare on a comparative basis.

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We may, with the approval of the New York Department of Financial Services, but without your consent, offer new Covered Funds or cease offering Covered Funds. We may make such a change due to a fund reorganization, fund substitution, to help protect our ability to provide the guarantees under the GLWB Rider, or otherwise. If such a change is required, we will notify you in writing prior to the effective date of such change (generally 90 calendar days unless we are required to give less notice) to allow you to reallocate your Covered Fund Value to maintain your GLWB Rider benefits. If a Covered Fund is closed, you will maintain your Benefit Base in that Covered Fund and all rights under the Rider unless and until you Transfer assets out of the Covered Fund or terminate your Contract, in which case your GLWB Rider will terminate. If you are investing via an Automatic Bank Draft Plan to the closing Covered Fund or utilizing an automatic custom transfer feature such as dollar cost averaging involving the closing Covered Fund, you should contact an annuity account representative to make alternate arrangements. Also, see the sections “Addition, Deletion or Substitution of Sub-Accounts” and “Dollar Cost Averaging,” below.

Covered Fund Value

Your Covered Fund Value is the aggregate value of each Covered Fund. Your Covered Fund Value may increase with positive market performance or by Contributions to the Income Segment. Your Covered Fund Value may decrease with negative market performance, deduction of the Guarantee Benefit Fee or by taking an Excess Withdrawal or Guaranteed Annual Withdrawals. Your Guarantee Benefit Fee will be calculated based on your Covered Fund Value (for applications signed before May 1, 2017) or your Benefit Base (for applications signed on or after May 1, 2017) as of the date the fee is deducted each quarter.

The Benefit Base

The Benefit Base is separate from your Covered Fund Value. It is not a cash value. Rather, your Benefit Base is used to calculate your GAW during the GAW Phase and the Settlement Phase. Your Benefit Base and your Covered Fund Value may not be equal to one another. Although your Benefit Base is related to your Covered Fund Value in that your Benefit Base will be ratcheted up if the Covered Fund Value is greater than your Benefit Base on the Ratchet Date, at all other times during the year your Covered Fund Value may be higher or lower than the Benefit Base depending on market performance and other factors impacting the Covered Funds. Your Initial Benefit Base is the sum of all GLWB Rider Contributions initially allocated to the Covered Funds in the Income Segment on the GLWB Rider Election Date.

•We increase your Benefit Base on a dollar-for-dollar basis each time you make a GLWB Rider Contribution to a Covered Fund.

•We decrease your Benefit Base on a proportionate basis each time you make an Excess Withdrawal.

•On each Ratchet Date during the GLWB Accumulation Phase and the GAW Phase, we will increase your Benefit Base to equal your current Covered Fund Value if your Covered Fund Value is greater than your Benefit Base. (If so, your Benefit Base will then reflect positive Covered Fund performance.)

•On each Ratchet Date during the GAW Phase, we will adjust your Benefit Base to equal your current Covered Fund Value if an age reset calculation results in a higher GAW amount (see “Reset of the GAW% During the GAW Phase,” below).

A few things to keep in mind regarding the Benefit Base:

•The Benefit Base is used only for purposes of calculating the Guarantee Benefit Fee, and calculating your Installment Payments during the GAW Phase and the GLWB Settlement Phase. It has no other purpose. The Benefit Base does not provide and is not available as a cash value or settlement value.

•It is important that you do not confuse your Benefit Base with the Covered Fund Value.

•During the GLWB Accumulation Phase and the GAW Phase, the Benefit Base will be re-calculated on an annual basis, as described below, and each time you make a GLWB Rider Contribution or take an Excess Withdrawal.

In the event that Great-West requires a Transfer from a Covered Fund as a result of such Covered Fund being eliminated or liquidated, your Benefit Base will be preserved and your Covered Fund Value will be Transferred to a replacement Covered Fund.

Subsequent Contributions to Your Covered Funds

During the GLWB Accumulation Phase and the GAW Phase, you may make additional GLWB Rider Contributions to the Covered Funds in addition to your initial GLWB Rider Contribution. Any subsequent GLWB Rider Contribution is subject to any minimum investment or Transfer requirements imposed by the Contract. Please see each Covered Fund prospectus for more information.

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All additional GLWB Rider Contributions made after the GLWB Rider Election Date will increase the Benefit Base dollar-for-dollar on the date the GLWB Rider Contribution is made. Although a GLWB Rider Contribution will increase your Benefit Base, it will not automatically reset your Installment amount. Contact our office if you would like to increase Installments to your maximum allowed. We will not consider the additional purchase of shares of a Covered Fund through reinvested dividends, capital gains, and/or settlements to be a GLWB Rider Contribution. However, they will increase the Covered Fund Value.

We reserve the right to reject additional GLWB Rider Contributions at any time for certain reasons (see Rights Reserved by Great-West, below). Great-West will provide you with 30 days prior written notice if it determines not to accept additional GLWB Rider Contributions. If Great-West refuses additional GLWB Rider Contributions, you will retain all other rights under the GLWB Rider.

Annual Adjustments to Your Benefit Base

During the Accumulation Phase, a Ratchet Date is the anniversary of the Owner’s GLWB Rider Election Date and each anniversary thereafter. On each Ratchet Date, we will evaluate your Benefit Base, and will adjust your Benefit Base to equal the greater of:

•your current Benefit Base; or

•your current Covered Fund Value.

It is important to be aware that even though your Covered Fund Value may increase throughout the year due to capital appreciation, the Benefit Base will not similarly increase until the next Ratchet Date. Unlike Covered Fund Value, your Benefit Base will never decrease solely due to negative Covered Fund performance.

It is important to note that annual adjustments to your Benefit Base will not impact your Covered Fund Value. Your Covered Fund Value can only increase or decrease as described above.

Benefit Base Cap

The Benefit Base may not exceed $5 million. Any Covered Fund Value over $5 million will be considered excess Covered Fund Value and will not be used to calculate GAWs. An Owner may Transfer or Distribute any excess Covered Fund Value on a dollar for dollar basis without reducing the Benefit Base and such transfers will not be considered an Excess Withdrawal. However, if the Covered Fund Value falls below $5 million due to an Excess Withdrawal, the Benefit Base will be adjusted as described below.

Excess Withdrawals

The Benefit Base may be adjusted as a result of Excess Withdrawals. During the GLWB Accumulation Phase, except as described above with respect to the Benefit Base Cap, any withdrawals or Transfers from your Covered Fund Value will be categorized as Excess Withdrawals. This may include Transfers from the Income Segment Covered Funds to any Investment Segment Portfolio. The Contract currently offers four Covered Funds. Great-West may make additional or fewer Covered Funds available to Contract Owners in the future.

You may make withdrawals or change your investments at any time and in any amount that you wish, subject to any federal tax limitations. Additionally, any withdrawals to satisfy your required minimum distribution obligations under the Code (Qualified Annuity Contract Owners only) will be considered an Excess Withdrawal if taken during the GLWB Accumulation Phase.

You should carefully consider the effect of an Excess Withdrawal on both the Benefit Base and the Covered Fund Value during the GLWB Accumulation Phase, as this may affect your future benefits under the GLWB Rider. You are solely responsible for any adverse consequences that may result from any Distributions or withdrawals. You should consult with a financial advisor prior to taking a Distribution or making a withdrawal. In the event you decide to take an Excess Withdrawal, as discussed below, your Covered Fund Value will be adjusted dollar-for-dollar in the amount of the Excess Withdrawal. The Benefit Base will be adjusted at the time the Excess Withdrawal is made by the ratio of the Covered Fund Value immediately after the Excess Withdrawal to the Covered Fund Value immediately before the Excess Withdrawal. Accordingly, your Benefit Base could be reduced by more than the amount of the withdrawal.

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Types of Excess Withdrawals

A Distribution (when an amount is paid to you out of your Covered Fund Value) or Transfer (the movement of money from a Covered Fund to any other Sub-Account) during the GLWB Accumulation Phase is considered an Excess Withdrawal. An Excess Withdrawal will reduce your Benefit Base and Covered Fund Value. If you Transfer any amount out of the GLWB Rider, then you will be prohibited from making any Transfers into the GLWB Rider for at least ninety (90) calendar days.

Numerical Example

Excess Withdrawals during the GLWB Accumulation Phase are illustrated as follows:

Covered Fund Value before the Excess Withdrawal adjustment = $50,000

Benefit Base = $100,000

Excess Withdrawal amount: $10,000

Covered Fund Value after adjustment= $50,000 - $10,000 = $40,000

Covered Fund Value adjustment = $40,000/$50,000 = 0.80

Adjusted Benefit Base = $100,000 x 0.80 = $80,000

Fees Associated with the Covered Funds

Neither the Guarantee Benefit Fee nor the M&E Charge shall be treated as an Excess Withdrawal.

Treatment of a Distribution During the GLWB Accumulation Phase

At the time of any partial or periodic Distribution, if the Covered Person is 59 1∕2 years of age or older, you may elect to begin the GAW Phase (as described below) and begin receiving GAWs at that time. If you choose not to begin the GAW Phase, the Distribution will be treated as an Excess Withdrawal and will reduce your Covered Fund Value and your Benefit Base (as described above).

If the Covered Person is not yet 59 1∕2 years old, then any partial or periodic Distribution will be treated as an Excess Withdrawal as described above.

Any Distribution made during the Accumulation Phase to satisfy any contribution limitation imposed under federal law will be considered an Excess Withdrawal at all times. You should consult a qualified tax advisor regarding contribution limits and other tax implications.

Death During the GLWB Accumulation Phase

If an Owner dies before the Initial Installment Date, the GLWB will terminate and the Covered Fund Value shall be paid to the Beneficiary in accordance with the terms of the Contract (unless a Spouse Beneficiary makes an election to continue the Contract as provided in this section).

If a Spouse Beneficiary who was legally married to the deceased Owner under applicable law as of the date of death becomes the sole Owner and Beneficiary under the terms of the Contract, the Spouse Beneficiary may continue the Contract and maintain the deceased Owner’s current Benefit Base as of the date of death. In this case, the Ratchet Date will continue to be the same date as it was under the deceased Owner. A Spouse Beneficiary also has the option to establish a new GLWB Rider Election Date with a new Benefit Base based on the current Covered Fund Value. In this case, the Ratchet Date will be the anniversary of the new GLWB Rider Election Date. In either situation, the Spouse Beneficiary shall become the sole Owner. The new Owner will be subject to all terms and conditions of the GLWB Rider, Contract and the Code, if applicable. Any election made by a Spouse Beneficiary pursuant to this section is irrevocable.

A non-Spouse Beneficiary cannot elect to maintain the Benefit Base. Upon the death of the Owner, the deceased Owner’s Covered Fund Value will be liquidated and will be transferred into the Schwab Government Money Market Sub-Account, or any other fund as approved by Great-West and distributed to the non-Spouse Beneficiary.

When the Contract is owned by a Non-Grantor Trust, upon the death of the Annuitant, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account, and the Death Benefit payable under the Contract will be paid. If either Joint Annuitant dies, the GLWB will continue with the remaining single Annuitant in accordance with the death distribution rules under the Code unless the Owner elects to receive the Death Benefit.

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If the Owner has elected a Restricted Beneficiary Payout Option and a Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account, and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

GAW Phase

The GAW Phase begins when you elect to receive GAWs under the GLWB Rider. The GAW Phase continues until the Covered Fund Value reaches zero and the GLWB Settlement Phase begins. The GAW Phase cannot begin until all Covered Persons attain age 59 1∕2.

To initiate the GAW Phase, you must submit a written Request to Great-West. At that time, you must provide sufficient documentation in good order and in a manner reasonably satisfactory to Great-West for Great-West to determine the age of each Covered Person. You may also begin the GAW Phase by initiating a Distribution while you are in the GLWB Accumulation Phase and the Covered Person(s) is 59 1∕2 years of age or older. At that time, you may elect to begin receiving Installments and establish your GAW%. If you choose not to initiate the GAW Phase, the Distribution will be treated as an Excess Withdrawal and the GAW Phase will not begin. If the Covered Person(s) is not yet 59 1∕2 years old, then any partial or periodic Distribution will be treated as an Excess Withdrawal and the GAW Phase will not begin. In these situations, the Benefit Base will be adjusted by the ratio of the Covered Fund Value after the Excess Withdrawal to the previous Covered Fund Value.

Because the GAW Phase cannot begin until all Covered Persons under the GLWB Rider attain age 59 1∕2, any Distributions taken before then will be considered Excess Withdrawals and will be deducted from the Covered Fund Value and Benefit Base. See “GLWB Accumulation Phase” above. If the Annuity Account is not held jointly, the Owner’s Spouse must be the sole Beneficiary. Installments will not begin until such change is made.

Because of decreasing life expectancy as you age, in certain circumstances, the longer you wait to start taking GAWs, the less likely it is that you will benefit from your GLWB Rider. On the other hand, the earlier you begin taking GAWs, the lower the GAW Percentage you will receive and therefore the lower your GAWs (if any) will be. You should talk to your tax advisor before initiating the GAW Phase to determine the most financially beneficial time for you to begin taking GAWs.

Calculation of Guaranteed Annual Withdrawals

It is important that you understand how the GAW is calculated because it will affect the benefits you receive under the GLWB Rider. Once you initiate the GAW Phase by submitting a Request to begin receiving GAW payments, we will verify the age of the Covered Person(s) and then determine the amount of the GAW.

To determine the amount of the GAW, we will compare the current Benefit Base to the current Covered Fund Value on the Initial Installment Date. If the Covered Fund Value is greater than the Benefit Base, we will increase the Benefit Base to equal the Covered Fund Value, and the GAW will be based on the increased Benefit Base amount.

During the GAW Phase, your Benefit Base may receive an annual adjustment. This adjustment is discussed below, and, if applicable, will occur on your Ratchet Date. Your Ratchet Date will become the anniversary of the Initial Installment Date and will no longer be the anniversary of the GLWB Rider Election Date as it was during the GLWB Accumulation Phase.

We use your Benefit Base to calculate the GAW you receive. However, even though the Benefit Base may be adjusted annually, your GAW% will not change unless there is a Reset of the GAW%. See “Reset of the GAW% During the GAW Phase” below.

To calculate the GAW for applications signed on or after May 1, 2020, on the Initial Installment Date we multiply the Benefit Base by the GAW% contained in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract. For Contracts signed before May 1, 2020, see the Appendix to this Prospectus entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements”. Unless otherwise requested, the amount of the initial Installment equals the GAW divided by the number of payments per year under the Installment Frequency Option you have chosen. We may allow Installments that annually total less than the GAW.

It is important to note that Installments during the GAW Phase will reduce your Covered Fund Value on a dollar-for-dollar basis, but they will not reduce your Benefit Base.

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Calculation of GAW Amount

The GAW% is based on the age of the Covered Person(s) as of the date we calculate the first Installment. If there are two Covered Persons, the GAW% is based on the age of the younger Covered Person.

Examples are set forth below. If you would like more information on your GAW% or Joint GAW%, or for a copy of the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract, please contact our Service Center.

Numerical Examples of the Guaranteed Annual Withdrawal

(GAW% and Joint GAW% rates used in these examples are for illustration purposes only. The rates applicable to you are disclosed in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract.)

Scenario #1: 66 Year Old Single Covered Person

Benefit Base = $80,000

Single GAW% = 5.00%

GAW = $4,000 ($80,000 x 5.00%)

Scenario #2: 68 Year Old Joint Covered Person with a 63 Year Old Spouse

Benefit Base = $80,000

Joint GAW% = 3.50% (for 63 year old)

GAW = $2,800 ($80,000 x 3.50%)

Scenario #3: 60 Year Old Single Covered Person

Benefit Base = $80,000

Single GAW% = 4.00%

GAW = $3,200 ($80,000 x 4.00%)

Scenario #4: 71 Year Old Joint Covered Person with a 65 Year Old Spouse

Benefit Base = $80,000

Joint GAW% = 4.50% (for a 65 year old)

GAW = $3,600 ($80,000 x 4.50%)

Any election which affects the calculation of the GAW is irrevocable. Please consider all relevant factors when making an election to begin the GAW Phase. For example, an election to begin receiving Installments based on a sole Covered Person cannot subsequently be changed to Joint Covered Persons once the GAW Phase has begun. Similarly, an election to receive Installments based on Joint Covered Persons cannot subsequently be changed to a sole Covered Person. Installments will reduce the Covered Fund Value on a dollar-for-dollar basis.

Installment Frequency Options

Your Installment Frequency Options are as follows:

(a)

 Annual – the GAW will be paid on the Initial Installment Date and each anniversary annually, or next business day, thereafter.

(b)

 Semi-Annual – half of the GAW will be paid on the Initial Installment Date and in Installments every 6 month anniversary, or next business day, thereafter.

(c)

 Quarterly – one quarter of the GAW will be paid on the Initial Installment Date and in Installments every 3 month anniversary, or next business day, thereafter.

(d)

 Monthly – one-twelfth of the GAW will be paid on the Initial Installment Date and in Installments every monthly anniversary, or next business day, thereafter.

You may request to change the Installment Frequency Option starting on each Ratchet Date during the GAW Phase.

Great-West may allow Installments that in total over the year are less than the GAW. If the total GAW amount is not taken as Installments, the amount not taken does not increase future GAW amounts.

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Lump Sum Distribution Option

At any time during the GAW Phase, if you are receiving Installments more frequently than annually, you may elect to take a lump sum Distribution up to the remaining scheduled amount of the GAW for that year.

Numerical Example of Lump Sum Distribution

Assume the following:

GAW = $4,800 with a monthly distribution of $400

Three monthly Installments have been made (3 x $400 = $1,200)

Remaining GAW = GAW – paid Installments to date = $4,800 - $1,200 = $3,600

So, a Lump Sum Distribution of $3,600 may be taken.

Suspending and Re-Commencing Installments After a Lump Sum Distribution

It is your responsibility to Request the suspension of the remaining Installments that are scheduled to be paid during the year until the next Ratchet Date. If you choose not to suspend the remaining Installments for the year, an Excess Withdrawal may occur. See “Effect of Excess Withdrawals During the GAW Phase” below.

After receiving a Lump Sum Distribution and suspending Installments, you must notify Great-West that you wish to recommence Installment payments for the next year. Great-West must receive notice 30 calendar days before the next Ratchet Date that you wish to recommence payments; otherwise, Great-West will not make any Installments. The Ratchet Date will not change if Installments are suspended.

You are solely responsible for any adverse consequences that may result from any Distributions or withdrawals. You should consult with a financial advisor prior to making any withdrawals.

Ratchet to Benefit Base During the GAW Phase

Once a year, on your Ratchet Date, we will review your GAW and may make an adjustment by increasing your GAW amount. This adjustment, if applicable, will be made by a Ratchet. Just like the Accumulation Phase, we will compare the Covered Fund Value to determine if it exceeds the Benefit Base. If so, we will adjust the Benefit Base to equal the Covered Fund Value.

On each Ratchet Date, the Benefit Base automatically adjusts to the greater of:

(a)

 the current Benefit Base; or

(b)

 the current Covered Fund Value.

GAWs will adjust annually on the Ratchet Date based on the new Benefit Base. This information will be reflected in your quarterly statement and online.

Installments will not change unless Requested by the Owner. You may Request to change your Installments at the time you elect your GLWB Rider by providing standing instructions to maximize your Installments, or at any time before your next Ratchet Date by contacting the Service Center.

Reset of the GAW% During the GAW Phase

Annually, Great-West shall multiply the Covered Fund Value, subject to the Benefit Base Cap, as of the Ratchet Date by the Attained Age GAW% (based on your or the younger Joint Covered Person’s Attained Age on the Ratchet Date) and determine if it is higher than the current Benefit Base multiplied by the current GAW%. Great-West will then provide the Owner with the result of this calculation. This information will be reflected in your quarterly statement and online.

Installments will not change unless Requested by the Owner. You may Request to change your Installments at the time you elect your GLWB Rider by providing standing instructions to maximize your Installments, or at any time before your next Ratchet Date by contacting the Service Center.

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If beneficial, the current GAW% will change to the Attained Age GAW% and the Benefit Base will change to the current Covered Fund Value as of the Ratchet Date. If the Reset takes effect, it will be effective on the Ratchet Date as the Ratchet Date does not change due to Reset.

Example:

If (Attained Age GAW%) x (Covered Fund Value as of Ratchet Date)

is greater than (Current GAW%) x (Current Benefit Base)

then (Attained Age GAW%) x (Covered Fund Value as of Ratchet Date) becomes new GAW

and (Covered Fund Value) = (New Benefit Base)

Numerical Example When Reset is Beneficial:

Age at Initial Installment Date = 60

Attained Age = 70

Covered Fund Value = $120,000

Current Benefit Base = $125,000

Current GAW% before Ratchet Date = 4%

Attained Age GAW% after Ratchet Date = 5.5%

 
(Current GAW%) x (Current Benefit Base) = 4% x $125,000 = $5,000

(Attained Age GAW%) x (Covered Fund Value) = 5.5% x $120,000 = $6,600

 
So New GAW is $6,600
New Benefit Base is $120,000
New GAW% of 5.5% will take effect.

Numerical Example When Reset is NOT Beneficial:

Age at Initial Installment Date = 60

Attained Age = 70

Covered Fund Value = $75,000

Current Benefit Base = $125,000

Current GAW% before Ratchet = 4%

Attained Age GAW% after Ratchet Date = 5.5%

 
(Current GAW%) x (Current Benefit Base) = 4% x $125,000 = $5,000

(Attained age withdrawal %) x (Covered Fund Value) = 5.5% x $75,000 = $4,125

 
So Because $4,125 is less than current GAW of $5,000, no Reset of the GAW% will take effect.

Additional GLWB Rider Contributions During the GAW Phase

Additional GLWB Rider Contributions made after the Initial Installment Date will increase the Benefit Base dollar-for-dollar on the date the GLWB Rider Contribution is made and will increase the GAW amount for the current year.

To calculate the new GAW amount, we multiply the new Benefit Base by the current GAW%.

Installments will not change unless Requested by the Owner. You may Request to change your Installments at the time you elect your GLWB Rider by providing standing instructions to maximize your Installments, or at any time before your next Ratchet Date by contacting the Service Center.

Payments on Death During GAW Phase

If an Owner Dies After the Initial Installment Date as a Single Covered Person for Non-Qualified Annuity Contracts

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If an Owner dies after the Initial Installment Date without a second Covered Person, the GLWB will terminate and no further Installments will be paid. If the death occurs before the GLWB Settlement Phase, the remaining Covered Fund Value will be liquidated and will be transferred into the Schwab Government Money Market Portfolio Sub-Account, and distributed to the Beneficiary. If permitted by the Contract and the Code, if applicable, the Beneficiary may elect to have a new Contract issued with the Beneficiary as the sole Owner and Covered Person, in which event an initial Benefit Base shall be established and he or she will be subject to all terms and conditions of the Contract and the Code, if applicable. Any election made by the Beneficiary is irrevocable.

If the Owner has elected a Restricted Beneficiary Payout Option, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

If an Owner Dies After the Initial Installment Date while Second Covered Person is Living for Non-Qualified Annuity Contracts

Upon the death of an Owner after the Initial Installment Date, and while a second Covered Person who was legally married to the deceased Owner under applicable state law on the date of death is still living, the surviving Covered Person will become the sole Owner and Beneficiary (if permitted by the terms of the Contract and the Code, if applicable), and he or she will acquire all rights under the Contract and will continue to receive GAWs based on the deceased Owner’s election. Installments may continue to be paid to the surviving Covered Person based on the GAW% for Joint Covered Persons. Installments will continue to be paid to the surviving Covered Person until his or her death and, upon death, the surviving Covered Person’s Beneficiary will receive any remaining Covered Fund Value if such death occurs before the GLWB Settlement Phase. Alternatively, the surviving Covered Person may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution. In either situation the Ratchet Date will be the date when the Annuity Account is established.

For Contracts owned by Non-Grantor Trusts, Installments will continue to be paid to the surviving Covered Person in accordance with permissible distributions under the Code and other applicable state and federal laws, rules and regulations governing such benefit payments. Alternatively, the surviving Covered Person may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution. The Ratchet Date will be the date when the Annuity Account is established.

If the Owner has elected a Restricted Beneficiary Payout Option and the Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options”above for more information.

If the surviving Covered Person/Beneficiary becomes the sole Owner, then he or she will be subject to all terms and conditions of the Contract, the GLWB Rider and the Code, if applicable.

Any election made by the Beneficiary pursuant to this section is irrevocable.

If the Owner Dies After the Initial Installment Date as a Single Covered Person for Qualified Annuity Contracts

If the Owner dies after the Initial Installment Date without a second Covered Person, the GLWB will terminate and no further Installments will be paid. If the death occurs before the GLWB Settlement Phase, the remaining Covered Fund Value shall be distributed to the Beneficiary in accordance with the terms of the Contract. If permitted by the Contract and the Code, the Owner’s Beneficiary may elect to continue the Contract in which event an initial Benefit Base shall be established and he or she will be subject to all terms and conditions of the GLWB Rider and the Code. Any election made by the Beneficiary is irrevocable.

If the Owner has elected a Restricted Beneficiary Payout Option and the Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options”above for more information.

If the Owner Dies After the Initial Installment Date while Second Covered Person is Living for Qualified Annuity Contracts

Upon the death of an Owner after the Initial Installment Date, and while the second Covered Person is still living, the second Covered Person/Beneficiary may elect to become an Owner (if permitted by the Contract and the Code) and he or she will acquire all rights under the GLWB Rider and continue to receive GAWs based on the original Owner’s election. Installments may continue to be paid to the surviving Covered Person based on the GAW% for Joint Covered Persons. Installments will continue to be paid to the surviving Covered

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Person until his or her death and, upon death, the surviving Covered Person’s Beneficiary will receive any remaining Covered Fund Value. Alternatively, he or she may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to become an Owner. In either situation the Ratchet Date will be the date when the Account is established.

If the Owner has elected a Restricted Beneficiary Payout Option and the Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options”above for more information.

To the extent the Beneficiary becomes an Owner, he or she will be subject to all terms and conditions of the GLWB Rider and the Code.

Effect of Excess Withdrawals During the GAW Phase

After the Initial Installment Date, the portion of Distributions or Transfers that, combined with all other amounts, exceeds the GAW amount will be considered an Excess Withdrawal. The Benefit Base will be adjusted by the ratio of the new Covered Fund Value (after the Excess Withdrawal) to the previous Covered Fund Value (before the Excess Withdrawal). If an Excess Withdrawal occurs, the GAW and current Benefit Base will be adjusted on the next Ratchet Date.

If an Owner makes a Request for a Distribution or Transfer over the telephone, Great-West will advise the Owner whether such Distribution or Transfer will be considered an Excess Withdrawal and/or advise the maximum amount that he or she could receive prior to the Distribution or Transfer being considered an Excess Withdrawal. Alternatively, if an Owner makes a Request in writing, Great-West will advise the Owner that Excess Withdrawals could reduce future benefits by more than the dollar amount of the Excess Withdrawal and that the Owner may contact Great-West by telephone to determine whether, as of the date of the Request, the requested Distribution or Transfer would be considered an Excess Withdrawal. The actual dollar effect of such Distribution or Transfer will be determined as of the date that Great-West receives the Request, subject to the terms set forth in the written Request.

Numerical Example: 

Covered Fund Value before GAW =	$55,500
Benefit Base =	$100,000
GAW % =	5.5%
GAW Amount =	$100,000 x 5.5% = $5,500

 

Total annual withdrawal:	$10,500
Excess Withdrawal =	$10,500 – $5,500 = $5,000
Covered Fund Value after GAW =	$55,500 – $5,500 = $50,000
Covered Fund Value after Excess Withdrawal =	$50,000 – $5,000 = $45,000
Adjustment due to Excess Withdrawal =	$45,000/$50,000 = 0.90
Adjusted Benefit Base =	$100,000 x 0.90 = $90,000
Adjusted GAW Amount =	$90,000 x 5.5% = $4,950
(Assuming no GAW increase on succeeding Ratchet Date)

GLWB Settlement Phase

The GLWB Settlement Phase begins when the Covered Fund Value has reduced to zero as a result of negative Covered Fund performance, payment of the Guarantee Benefit Fee, certain other fees (e.g., Mortality and Expense fees, advisory fees or asset management fees), and/or GAWs, but the Benefit Base is still positive.

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When the GLWB Settlement Phase begins, if the remaining Covered Fund Value is less than the amount of the final Installment in the GAW Phase, Great-West will pay the remaining balance of the Installment within 7 days from the Installment Date. Installments continue for your life under the terms of the GLWB Rider, but all other rights and benefits under the GLWB Rider will terminate. Installments will continue in the same frequency as previously elected, and cannot be changed during the Settlement Phase. During the Settlement Phase, Installments from one anniversary to the next will equal the Guaranteed Annual Withdrawal Amount.

Distributions and Transfers are not permitted during the Settlement Phase.

During the Settlement Phase, the Guarantee Benefit Fee will not be deducted. When the last Covered Person dies during the Settlement Phase, the Rider will terminate and no Installments will be paid to the Beneficiary.

Divorce and the Income Segment

Divorce During the GLWB Accumulation Phase – Non-Qualified Annuity Contracts

If the Annuity Account is transferred or split pursuant to a settlement agreement or a court-issued divorce Decree before the Initial Installment Date, the Owner(s) must immediately notify us and provide a copy of the Decree and any other information that we may require.

If the former Spouse of the Owner becomes the sole Owner of the Annuity Account by a settlement agreement or a court-issued divorce Decree, the Owner may request that the Contract be reissued with the former Spouse as the sole Owner. If the Contract is so reissued, the current Benefit Base will be maintained.

If the Annuity Account is divided between the Owner and the Owner’s former Spouse by a settlement agreement or a court-issued divorce Decree, the Owner(s) may request that the current Contract will be maintained and a new Contract will be issued to the former Spouse, with the Owner and the former Spouse each being a Covered Person under his/her own Contract. If the Contract is reissued as one new Contract, the Benefit Base will be proportionate to the share of the Covered Fund Value allocated to the former Spouse as of the date of reissuance. If the Contract is reissued as two new Contracts, the Benefit Base will be divided in the same proportion as the respective Covered Fund Values as of the date of reissuance.

Divorce During the GLWB Accumulation Phase – Qualified Annuity Contracts

Pursuant to Section 408(d)(6) of the Code and the regulations thereunder, Great-West will make payment to the Alternate Payee and/or establish an Annuity Account on behalf of the Alternate Payee named in a Decree received during the GLWB Accumulation Phase. The Alternate Payee shall be responsible for submitting a Request to begin Distributions in accordance with the Code.

If the Alternate Payee named in the Decree is the Owner’s Spouse during the Accumulation Phase, he or she may elect to become an Owner, either by maintaining the current Benefit Base of the previous Owner, divided pursuant to the terms of the Decree, or establishing a new Benefit Base based on the current Covered Fund Value on the date his or her Annuity Account is established and he or she will continue as an Owner. If the Alternate Payee elects to maintain the current Benefit Base, the Benefit Base will be divided between the Owner and the Alternate Payee in the same proportion as their respective Covered Fund Values pursuant to the terms of the Decree In either situation, the Alternate Payee’s Election Date shall be the date the Annuity Account is established.

To the extent that the Alternate Payee becomes an Owner, she or he will be subject to all terms and conditions of the Contract.

Any election made by the Alternate Payee pursuant to this section is irrevocable.

Divorce During the GAW Phase – Non-Qualified Annuity Contracts

If the Annuity Account is transferred or split pursuant to a settlement agreement or a court-issued divorce Decree after the Initial Installment Date but before the GLWB Settlement Phase, the Owner(s) must immediately notify Great-West and provide the information that Great-West requires.

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Pursuant to the agreement or decree, if there is a single Covered Person, the Benefit Base and GAW will be divided between the Spouses in the same proportion as each respective Spouses’s Covered Fund Values as of the effective date of the agreement or decree. The Owner may continue to receive proportional GAWs after the Annuity Accounts are split. The former Spouse may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to become and Owner and receive his or her proportional GAWs.

Pursuant to the agreement or decree, if there are two Covered Persons, the Benefit Base and GAW will be divided in the same proportion as each respective Spouse’s Covered Fund Values as of the effective date of the agreement or decree. The Owner may continue to receive the proportional GAWs after the Annuity Accounts are split, based on the amounts calculated pursuant to the Joint Covered Persons GAW%. The former Spouse may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to continue proportionate GAWs in the GAW Phase based on the amounts calculated pursuant to the Joint Covered Persons GAW% after the Annuity Accounts are split. A new Installment anniversary date will be established for the former Spouse on the date the Annuity Accounts are split.

In the alternative, the former Spouse may establish a new GLWB in the Accumulation Phase with the Benefit Base based on the current Covered Fund Value on the date his or her Annuity Account is established.

To the extent that the former Spouse becomes an Owner, he or she will be subject to all terms and conditions of the GLWB Rider and the Code.

Any election made by the former Spouse pursuant to this section is irrevocable.

Divorce During the GAW Phase – Qualified Annuity Contracts

Pursuant to Section 408(d)(6) of the Code and the regulations thereunder, Great-West will make payment to the Alternate Payee and/or establish an Annuity Account on behalf of the Alternate Payee named in a Decree approved during the GAW Phase. The Alternate Payee shall be responsible for submitting a Request to begin Distributions in accordance with the Code.

Pursuant to the instructions in the Decree, if there is a single Covered Person, the Benefit Base and GAW will be divided in the same proportion as each respective Spouse’s Covered Fund Values as of the effective date of the Decree. The Owner may continue to receive the proportional GAWs after the Annuity Accounts are split. If the Alternate Payee is the Owner’s Spouse, he or she may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to become an Owner.

Pursuant to the instructions in the Decree, if there are two Covered Persons, the Benefit Base and GAW will be divided in the same proportion as each respective Spouse’s Covered Fund Values as of the effective date of the Decree. The Owner may continue to receive the proportional GAWs after the Annuity Accounts are split, based on the amounts calculated pursuant to the Joint Covered Persons GAW%. If the Alternate Payee is the Owner’s Spouse, he or she may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to continue proportionate GAWs in the GAW Phase based on the amounts calculated pursuant to the Joint Covered Persons GAW% after the Annuity Accounts are split. A new Installment anniversary date will be established for the Alternate Payee on the date the Annuity Accounts are split.

In the alternative, the Alternate Payee may establish a new GLWB in the Accumulation Phase with the Benefit Base based on the current Covered Fund Value on the date his or her Annuity Account is established.

To the extent that the Alternate Payee becomes an Owner, he or she will be subject to all terms and conditions of the GLWB Rider and the Code.

Any election made by the Alternate Payee pursuant to this section is irrevocable.

Divorce During the GLWB Settlement Phase

If a Request is made in connection with a divorce, Great-West will divide the Installment pursuant to the terms of any settlement or divorce decree. Installments will continue pursuant to the lives of each payee.

Termination of the GLWB Rider

The GLWB Rider will terminate automatically upon the earliest of:

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(a)

 the date of death of the Owner if there is no surviving Covered Person;

(b)

 the date of death of the Annuitant if there is no surviving Covered Person of a Contract held by a Non-Grantor Trust;

(c)

 the date Death Benefits are paid to the Owner of a Contract held by a Non-Grantor Trust;

(d)

 the date there is no longer a Covered Person under the GLWB Rider;

(e)

 the date the Contract is terminated;

(f)

 the date the Benefit Base is reduced to zero prior to the GLWB Settlement Phase due to one or more Excess Withdrawals;

(g)

 the Annuity Commencement Date, if no Installments have been taken; or

(h)

  the date a Non-Qualified Annuity Contract and Rider are assigned to a new Owner if the Covered Person(s) is/are changed.

If the GLWB is canceled, the Benefit Base, GAW and any other benefit accrued or received under the GLWB shall terminate. The Owner may not make any subsequent Transfers or GLWB Rider Contributions into the GLWB Rider until at least ninety (90) calendar days after termination of the GLWB, at which point a new GLWB Rider Election Date shall be recorded. In such an event, the Benefit Base will be based on the current Covered Fund Value on the date the new GLWB is established.

We will not provide Owners with notice prior to termination of the Contract or GLWB Rider and the Guarantee Benefit Fee will not be refunded upon termination of the GLWB Rider.

You should consult with your financial professional to assist you in determining whether the GLWB Rider is suited for your financial needs and investment risk tolerance. Adding the GLWB Rider to your Contract may not be in your interest since all conditions of the Rider must be met, an additional annual fee is imposed and a Covered Person must remain living for you to receive certain benefits. Furthermore, the GLWB Rider contains different investment options (Covered Funds) and special investment limitations with conditions than otherwise available under the Contract. You should carefully consider each of these factors before deciding if a GLWB Rider is suitable for your needs, especially at older ages.

The applicable GAW% and Joint GAW% are shown in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract, rather than at the time you select a GLWB Rider. If you would like more information on the GLWB Rider, the GAW%, or the Joint GAW% applicable to you, or for a copy of the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract, please contact our Service Center.

Seek Tax Advice

The following discussion of the federal income tax consequences is only a brief summary of general information and is not intended as tax advice to any individual. The federal income tax consequences discussed here reflect our understanding of current law and the law may change. Federal estate tax consequences and state and local estate, inheritance, and other tax consequences of ownership or receipt of distributions under a Contract depend on your individual circumstances or the circumstances of the person who receives the distribution.

You should consult a tax advisor for further information.

Federal Tax Matters

The following discussion is a general description of federal income tax considerations relating to the Contract and is not intended as tax advice. This discussion assumes that the Contract qualifies as an annuity contract for federal income tax purposes. This discussion is not intended to address the tax consequences resulting from all situations. If you are concerned about the tax implications relating to the ownership or use of the Contract, you should consult a competent tax advisor as to how the tax rules apply to you before initiating any transaction.

This discussion is based upon our understanding of the present federal income tax laws as they are currently interpreted by the IRS. No representation is made as to the likelihood of the continuation of the present federal income tax laws or of the current interpretation by the IRS. Moreover, no attempt has been made to consider any applicable state or other tax laws.

Because tax laws, rules, and regulations are constantly changing, we do not make any guarantees about the Contract’s tax status.

Taxation of Annuities

Section 72 of the Code governs the taxation of annuities. An owner who is a “natural person” will not generally be taxed on increases, if any, in the value of the Annuity Account Value until all or part of the Annuity Account Value is distributed (for example, withdrawals, GAW payments or annuity payouts under the annuity payout option elected).

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Under a Grantor Trust, the Grantor(s), who must be a natural person(s), is treated as the Owner of the Contract for tax purposes. The taxable portion of a distribution (in the form of a single sum payout, a withdrawal, a GAW payment or an annuity) is taxable as ordinary income.

If the Owner of a Contract is a non-natural person (for example, a corporation, partnership, limited liability company or trust), the Owner must generally include in income any increase in the excess of the Annuity Account Value over the “investment in the Contract” (discussed below) during each taxable year until all or a part of the Annuity Account Value is distributed. The rule generally does not apply, however, where the non-natural person is only the nominal Owner of a Contract and the beneficial Owner is a natural person.

This rule also does not apply where:

•The Contract is acquired by the estate of a decedent.

•The Contract is a qualified funding asset for a structured settlement.

•The Contract is an immediate annuity.

The following discussion generally applies to a Contract owned by a natural person.

You should consult with your tax advisor as to whether your Non-Grantor Trust satisfies the exception to the non-natural owner rule.

Withdrawals

Partial withdrawals, including GAW payments and periodic withdrawals that are not part of an annuity payout, are generally treated as taxable income to the extent that the Annuity Account Value immediately before the withdrawal exceeds the “investment in the Contract” at that time. Full surrenders are treated as taxable income to the extent that the amount received exceeds the “investment in the Contract.” The taxable portion of any withdrawal is taxed at ordinary income tax rates.

The IRS has not provided guidance as to the tax treatment of the charge for the GLWB (the Guarantee Benefit Fee) under the Contract. The IRS could treat the deduction of the Guarantee Benefit Fee from the Covered Fund Value (for applications signed before May 1, 2017) or the Benefit Base (for applications signed on or after May 1, 2017) as a deemed withdrawal from the contract subject to current income tax to the extent the Annuity Account Value exceeds the investment in the Contract and, if applicable, the 10% premature distribution penalty tax. We do not currently report charges for the GLWB as withdrawals, but we will do so in the future if the IRS requires that we do so.

Annuity Payouts

Although the tax consequences will vary depending on the annuity form elected under the Contract, in general, only the portion of the annuity payout that exceeds the exclusion amount will be taxed. The exclusion amount is generally determined by a formula that establishes the ratio of the “investment in the Contract” to the expected return under the Contract. For variable annuity payouts, in general there is no tax on the portion of each payout which represents the same ratio that the “investment in the Contract” allocated to the variable annuity payouts bears to the number of payouts expected to be made (determined by Treasury Department regulations which take into account the Annuitant’s life expectancy and the form of annuity benefit selected). However, the remainder of each annuity payout is taxable. Once the “investment in the Contract” has been fully recovered, the full amount of any additional annuity payouts is taxable. If the annuity payments stop as a result of an Annuitant’s death before full recovery of the “investment in the Contract,” you should consult a competent tax advisor regarding the deductibility of the unrecovered amount.

If part of an annuity contract’s value is applied to an annuity option that provides payments for one or more lives or for a period of at least ten years, those payments may be taxed as annuity payments instead of withdrawals.

The taxable portion of any annuity payout is taxed at ordinary income tax rates.

Penalty Tax

There may be a federal income tax penalty imposed equal to 10% of the amount treated as taxable income. In general, however, there is no penalty tax on distributions:

•Made on or after the date on which the Owner reaches age 59 1∕2.

•Made as a result of death or disability of the Owner.

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•Received in substantially equal periodic payouts (at least annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and the Beneficiary.

Similar penalties are imposed on premature distributions from Qualified Annuity Contracts.

For more details regarding this penalty tax and other exemptions that may be applicable, including those related to COVID-19, consult a competent tax advisor.

Taxation of Death Benefit Proceeds

Amounts may be distributed from the Contract because of the death of an Owner. Generally such amounts are included in the income of the recipient as follows:

•If distributed in a lump sum, they are taxed in the same manner as a full withdrawal, as described above.

•If distributed under an annuity form, they are taxed in the same manner as annuity payouts, as described above.

Distribution at Death

For a Non-Qualified Annuity Contract to be treated as an annuity contract for federal income tax purposes, the terms of the Contract must provide the following two distribution rules:

•If the Owner dies before the date annuity payouts start, the entire Annuity Account Value must generally be distributed within five years after the date of death. If payable to a designated Beneficiary, the distributions may be paid over the life of that designated Beneficiary or over a period not extending beyond the life expectancy of that Beneficiary, so long as payouts start within one year of the Owner’s death. If the sole designated Beneficiary is the Owner’s Spouse, the Contract may be continued in the name of the Spouse as Owner.

•If the Owner dies on or after the date annuity payouts start, and before the entire interest in the Contract has been distributed, payments under the Contract must continue on the same or on a more rapid schedule than that provided for in the method in effect on the date of death.

See the discussion below for Required Minimum Distributions from Qualified Annuity Contracts.

Diversification of Investments

For a Non-Qualified Annuity Contract to be treated as an annuity for federal income tax purposes, the investments of the Sub-Accounts must be “adequately diversified” in accordance with Treasury Department Regulations. If the Series Account or a Sub-Account failed to comply with these diversification standards, a Non-Qualified Annuity Contract would not be treated as an annuity contract for federal income tax purposes and the Owner would generally be taxable currently on the excess of the Annuity Account Value over the “investment in the Contract.”

Although we may not control the investments of the Covered Funds or the Portfolios, we expect that the Covered Funds and the Portfolios will comply with such regulations so that the Sub-Accounts will be considered “adequately diversified.” Owners bear the risk that the entire Non-Qualified Annuity Contract could be disqualified as an annuity under the Code due to the failure of the Series Account or a Sub-Account to be deemed to be adequately diversified.

Owner Control

In connection with its issuance of temporary and proposed regulations under Section 817(h) in 1986, the Treasury Department announced that those regulations did not “provide guidance concerning the circumstances in which investor control of the investments of a segregated asset account may cause the investor (i.e., the Owner), rather than the insurance company to be treated as the owner of the assets in the account” (which would result in the current taxation of the income on those assets to the Owner). In Revenue Ruling 2003-91, the IRS provided such guidance by describing the circumstances under which the owner of a variable contract will not possess sufficient control over the assets underlying the contract to be treated as the owner of those assets for federal income tax purposes. Rev. Rul. 2003-91 states that the determination of whether the owner of a variable contract is to be treated as the owner of the assets held by the insurance company under the contract will depend on all of the facts and circumstances. We do not believe that the ownership rights

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of an Owner under the Contract would result in any Owner being treated as the owner of the assets of the Contract under Rev. Rul. 2003-91. However, we do not know whether the IRS will provide additional guidance on this issue and what standards that guidance may contain. Therefore, we reserve the right to modify the Contract as necessary to attempt to prevent an Owner from being considered the owner of a pro rata share of the assets of the Contract.

Multiple Contracts

All deferred, Non-Qualified Annuity Contracts that Great-West (or our affiliates) issues to the same Owner during any calendar year must be treated as a single annuity contract for purposes of determining the taxable amount.

Withholding

Distributions generally are subject to withholding at rates that vary according to the type of distribution and the recipient’s tax status. Recipients, however, generally are provided the opportunity to elect not to have tax withheld from distributions.

Section 1035 Exchanges

Code Section 1035 provides that no gain or loss shall be recognized on the exchange of one annuity contract for another. Generally, an annuity contract issued in an exchange for another annuity contract is treated as new for purposes of the penalty and distribution at death rules.

If the initial Contribution is made as a result of an exchange or surrender of another annuity contract, we may require you to inform us regarding the federal income tax status of the previous annuity contract.

In Revenue Procedure 2011-38, the IRS eased the restrictions on when a partial transfer between annuity contracts will be treated as a tax-free exchange under Code Section 1035. The original restrictions were imposed by Revenue Procedure 2008-24, which set forth the circumstances under which a direct transfer of a portion of the cash surrender value of an existing annuity contract for a second annuity contract would be treated by the IRS as a tax-free exchange.

Under Rev. Proc. 2011-38:

1.

 The period of time in which cash cannot be withdrawn from either contract after a partial transfer is 180 days, and

2.

 Annuity payments that satisfy the partial annuitization rule of Code Section 72(a)(2) will not be treated as a distribution from either the old or new contract.

Please discuss any tax consequences concerning any contemplated or completed transactions with a competent tax advisor.

Assignment, Transfer or Exchange of the Contract

For Qualified Annuity Contracts, the Owner may not be changed and the Contract may not be transferred, sold, assigned, pledged, charged, encumbered, or in any way alienated.

For Non-Qualified Annuity Contracts, in order to assign your interest in the Contract, you must submit to us an original or certified copy of the assignment. Once we record the assignment, the Owner’s rights and those of the Beneficiary are subject to the assignment. We are not responsible for the validity of any assignment. An assignment of the Contract will result in termination of the GLWB Rider if the Covered Person(s) is/are changed. See “Termination of the GLWB Rider” above.

The designation of an Annuitant or other Beneficiary who is not also the Owner may result in adverse tax consequences that are not discussed in this Prospectus.

Assignment or transfer of Ownership while the Owner is still alive will result in cancellation of any Restricted Beneficiary Payout Options chosen by the Owner. See “Restricted Beneficiary Payout Options” above for more information.

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Investment Income Surtax

Distributions from Non-Qualified Annuity Contracts are considered “investment income” for purposes of the investment income surtax on investment income. Thus, in certain circumstances, a 3.8% tax may be applied to some or all of the taxable portion of distributions (e.g., earnings) to individuals, trusts, and estates whose income exceeds certain threshold amounts as follows: an amount equal to the lesser of (a) “net investment income”; or (b) the excess of a taxpayer’s modified adjusted gross income over a specified income threshold ($250,000 for married couples filing jointly, $125,000 for married couples filing separately, and $200,000 for everyone else). “Net investment income” is defined for this purpose as including the excess (if any) of gross income from annuities over allowable deductions, as such terms are defined in the Health Care and Education Reconciliation Act of 2010. The term net investment income excludes any distribution from an IRA or certain other retirement plans or arrangements. The IRS has issued regulations implementing this new provision of the law. Please consult the impact of the Investment Income Surtax on you with a competent tax advisor.

Domestic Partnerships, Civil Unions, and Same-Sex Marriages

The Internal Revenue Service’s Revenue Ruling 2013-17 holds that for all federal tax purposes, including income, gift and estate tax, the IRS will recognize same-sex marriages that are legally valid in the state where the couple married, regardless of whether the state in which the couple resides would recognize the marriage. In the 2015 case, Obergefell v. Hodges, the U.S. Supreme Court required all states to issue marriage licenses to same-sex couples and to recognize same-sex marriages validly performed in other jurisdictions. For federal tax purposes, the term ‘marriage’ does not include registered domestic partnerships, civil unions, or other similar formal relationships recognized under state law that are not denominated as a marriage under that state’s law. Therefore, domestic partners and individuals in civil unions are not treated as Spouses under this Contract. You are strongly encouraged to consult with a competent tax advisor for additional information on your state’s law regarding civil unions and same-sex marriages.

Qualified Annuity Contracts

Notwithstanding any provision of the Contract or GLWB Rider, certain provisions apply to Contracts intended to qualify as Individual Retirement Annuities under section 408(b) of the Code and Roth Individual Retirement Annuities under section 408A of the Code:

•Only the Owner may be the Annuitant of the Contract;

•Only one Owner may be established under the Contract;

•The Contract must be established for the exclusive benefit of the Owner and the Beneficiary;

•The entire interest of the Owner must be non-forfeitable;

•The Contract must be non-transferable. The Owner may not borrow any money under the Contract or pledge it as security for a loan. The Owner may not sell, assign or transfer the Contract, unless permitted by a Divorce or Separation Decree.

•Separate records must be maintained for the interest of each Owner. Great-West will furnish an annual calendar year report on the status of the Contract and such information concerning required minimum distributions as is prescribed by the Commissioner of Internal Revenue.

Contributions to Qualified Annuity Contracts

Except in the case of a “rollover contribution” as permitted by sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8) 403(b)(10) 408(d)(3) or 457(e)(16) of the Code or a Contribution made in accordance with the terms of a Simplified Employee Pension (SEP), as described in Code Section 408(k), Contributions will only be accepted if they are in cash. The total of such Contributions shall not exceed the maximum as Section 219(b)(5)(A) of the Code may allow, for any taxable year, regardless of whether such Contributions are deductible by the Owner under Section 219(b)(1) of the Code. In the case of an individual who is age 50 or older, the annual cash Contribution limit is increased by the amount as Section 219(b)(5)(B) of the Code may allow for any taxable year.

You have sole responsibility for determining whether any premium payment meets applicable income tax requirements.

Required Minimum Distributions from Qualified Annuity Contracts

It is the responsibility of the Owner to request payments in accordance with the minimum distribution requirements of the Code. Great-West is not responsible for any penalties resulting from a failure to request timely payments in the proper amount. Required Minimum Distributions (“RMDs”) made from the GLWB Rider will only be made in a manner consistent with the required minimum distribution rules or other provisions of the Code, as detailed below.

If you own a Roth IRA, you are not required to receive minimum distributions from your Roth IRA during your life.

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Any RMD during the GLWB Accumulation Phase will be considered an Excess Withdrawal.

During the GAW Phase, RMDs will not be considered to be Excess Withdrawals if the required minimum distribution causes the total Distributions to exceed the GAW amount to the extent the RMD amount is attributable to the Covered Fund Value.

The Owner should consult a tax advisor regarding withdrawals to satisfy his or her RMD amount.

Distributions Before Death in Qualified Annuity Contracts

Notwithstanding any provision of the Contract, GLWB Rider or Endorsement to the contrary, the distribution of the individual’s interest in the Qualified Annuity Contract shall be made in accordance with the requirements of Section 408(b)(3) of the Code and the regulations thereunder. If you own a Roth IRA, you are not required to receive minimum distributions from your Roth IRA during your life.

The Owner’s entire interest in the Contract must be distributed, or begin to be distributed, by the Owner’s required beginning date. If the Owner was born before July 1, 1949, the Owner’s required beginning date is April 1 of the calendar year following the calendar year in which the Owner reaches age 70 1∕2. If the Owner was born on or after July 1, 1949, the Owner’s required beginning date is April 1 of the calendar year following the calendar year in which the Owner reaches age 72. For that year, and each succeeding year, a distribution must be made on or before December 31. By the required beginning date, the Owner may elect to have the balance in the Contract distributed in one of the following forms:

(a)

 a single sum payment;

(b)

 equal or substantially equal payments no less frequently than annually over the life of the Owner;

(c)

 equal or substantially equal payments no less frequently than annually over the lives of the Owner and the designated Beneficiary;

(d)

 equal or substantially equal payments no less frequently than annually over a period not extending beyond the Owner’s life expectancy; or

(e)

 equal or substantially equal payments no less frequently than annually over a period not extending beyond the joint life and last survivor expectancy of the Owner and the designated Beneficiary.

All distributions made hereunder shall be made in accordance with section 401(a)(9) of the Code, including the incidental death benefit requirements, and any other applicable regulations.

If payment is not to be made in the form of periodic annuity payments on an irrevocable basis (except for acceleration), the amount to be distributed each year, beginning with the first calendar year for which distributions are required and then for each succeeding calendar year will be determined under the applicable provisions of the Code and the implementing regulations.

The Coronavirus Aid, Relief and Economic Security (“CARES”) Act waived the required minimum distribution rules for calendar year 2020 for (1) plans (including 401(k) plans) qualified under Code Section 401, (2) defined contribution plans described in Code Sections 403(a) and 403(b), (3) eligible governmental defined contribution plans described in Code Section 457(b) and (4) Individual Retirement Accounts and Individual Retirement Annuities described in Code Section 408. In addition, distributions which were required to be made in calendar year 2020 by reason of a required beginning date occurring in such calendar year and such distribution not having been made before January 1, 2020 are also waived.

Distributions Upon Death in Qualified Annuity Contracts

Distributions for deaths that occurred before December 31, 2019 where distributions had begun before death. If the Owner died after distributions had begun, the remaining portion of such interest will continue to be distributed at least as rapidly as under the method of distribution being used prior to the individual’s death.

Distributions for deaths that occurred before December 31, 2019 where distributions had not begun before death. If the Owner died before distribution had begun, distribution of the individual’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the individual’s death unless an election is made to receive distribution in accordance with (1) or (2) below:

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1)

 If the Owner’s interest is payable to a designated Beneficiary, then the entire interest of the individual may be distributed in equal or substantially equal payments over the life or over a period certain not greater than the life expectancy of the designated Beneficiary commencing on or before December 31 of the calendar year immediately following the calendar year in which the Owner died.

2)

 If the designated Beneficiary is the Owner’s surviving Spouse, the date distributions are required to begin in accordance with (1) above shall not be earlier than the later of (A) December 31 of the calendar year immediately following the calendar year in which the individual died or (B) December 31 of the calendar year in which the individual would have attained age 70 1∕2.

3)

 If the designated Beneficiary is the Owner’s surviving Spouse, the Spouse may treat the Contract as his or her own Qualified Annuity Contract. This election will be deemed to have been made if such surviving Spouse makes a regular Contribution to the Contract, makes a rollover to or from such Contract, or fails to elect any of the above provisions.

Distributions for deaths occurring after December 31, 2019. If the Owner dies after December 31, 2019, distribution of the individual’s entire interest will be completed by December 31 of the calendar year containing the tenth anniversary of the individual’s death unless the Beneficiary qualifies as an EDB (see “Definitions” section of this Prospectus) and makes an election to receive distribution in accordance with (1) or (2) below:

1)

 If the Owner’s interest is payable to an EDB, then, subject to the requirements set forth in Code Section 401(a)(9)(E)(ii), the entire interest of the individual may be distributed in equal or substantially equal payments over the life or over a period certain not greater than the life expectancy of the EDB commencing on or before December 31 of the calendar year immediately following the calendar year in which the Owner died.

2)

 If the EDB is the Owner’s surviving Spouse, the date distributions are required to begin in accordance with (1) above shall not be earlier than the later of (A) December 31 of the calendar year immediately following the calendar year in which the individual died or (B) December 31 of the calendar year in which the individual would have attained age 72.

3)

 If the EDB is the Owner’s surviving Spouse, the Spouse may treat the Contract as his or her own Qualified Annuity Contract. This election will be deemed to have been made if such surviving Spouse makes a regular Contribution to the Contract, makes a rollover to or from such Contract, or fails to elect any of the above provisions.

Life expectancy is computed by use of the single life table in Q&A 1 of Section 1.401(a)(9)-9 of the regulations. If distributions are being made to a surviving Spouse as the sole designated Beneficiary, such Spouse’s remaining life expectancy for a year is the number in the single life table corresponding to such Spouse’s age in each year after the calendar year of the Owner’s death. In all other cases, remaining life expectancy for a year is the number in the single life table corresponding to the EDB’s age in the year following the calendar year of the individual’s death and reduced by 1 for each subsequent year.

Distribution of the Contracts

Prior to December 14, 202, we offered the Contract on a continuous basis. We have entered into a distribution agreement with Charles Schwab & Co., Inc. (“Schwab”) and GWFS, which we assigned to IDI. Contracts were sold in those states where the Contract may lawfully be sold by licensed insurance agents who are registered representatives. Schwab is registered as a broker/dealer under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is a member of FINRA. Schwab’s principal offices are located at 211 Main Street, San Francisco, California 94105.

Prior to October 5, 2020, GWFS,and affiliate of Great-West, served as the principal underwriter and distributor of the Contracts. GWFS is registered with the SEC under the Exchange Act as a broker-dealer and is a member of FINRA. Its principal business address is 8515 East Orchard Road, Greenwood Village, Colorado, 80111.

Since October 5, 2020, IDI has served as principal underwriter and distributor of the Contracts. IDI is registered with the SEC as a broker-dealer under the Exchange Act and is a member of FINRA. IDI is a Tennessee corporation and was established in 1993. IDI’s principal business address is 2801 Highway 280 South, Birmingham, Alabama 35223.

Beginning October 5, 2020, Protective assumed responsibility from Great-West for paying compensation to Schwab for the promotion and sale of the Contract. The sources used to fund the compensation have not changed, but are not controlled and managed through Protective.

Protective (or its affiliates, for purposes of this section only, collectively, “the Company”) pays Schwab compensation for the promotion and sale of the Contract as described below. Compensation paid to Schwab is not paid directly by the Owner or the Series Account. The Company funds this compensation through 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. See “Expenses of the Portfolios” above. The Company pays a portion of these proceeds to Schwab

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for distribution services. These amounts vary from Portfolio to Portfolio, but the combined compensation generally ranges up to 0.60% annually of the assets invested in the relevant Sub-Accounts. Due to the varying nature of this compensation, the annual rate paid under this fee alternative is higher for certain Sub-Accounts than for other Sub-Accounts. This may create a conflict of interest by influencing Schwab representatives to recommend certain Sub-Accounts over other Sub-Accounts.

As compensation for distribution services and some Contract administrative services, the Company pays Schwab an annual fee equal to 0.51% of average daily Series Account assets. The Company also may pay a marketing allowance or allow other promotional incentives or payments to Schwab in the form of cash or other compensation, as mutually agreed upon by the Company and the broker/dealers, to the extent permitted by FINRA rules and other applicable laws and regulations. This may create a conflict of interest by influencing Schwab representatives to recommend certain Sub-Accounts over other Sub-Accounts.

You should ask your Schwab representative for further information about what compensation he or she, or Schwab, may receive in connection with your purchase of a Contract.

Voting Rights

In general, you do not have a direct right to vote the Portfolio shares held in the Series Account. However, under current law, you are entitled to give us instructions on how to vote the shares. We will vote the shares according to those instructions at regular and special shareholder meetings. If the law changes and we can vote the shares in our own right, we may elect to do so.

Before the Annuity Commencement Date, you have the voting interest. The number of votes available to you will be calculated separately for each of your Sub-Accounts. That number will be determined by applying your percentage interest, if any, in a particular Sub-Account to the total number of votes attributable to that Sub-Account. You hold a voting interest in each Sub-Account to which your Annuity Account Value is allocated. If you select a variable annuity option, the person receiving payments will have the voting interest, and the votes attributable to the Contract will decrease as annuity payouts are made.

The number of votes of a Portfolio will be determined as of the date established by that Portfolio for determining shareholders eligible to vote at the meeting of the Portfolio. Voting instructions will be solicited by communication prior to such meeting in accordance with procedures established by the respective Portfolios.

If we do not receive timely instructions, or if Owners have no beneficial interest in shares held by us, we will vote according to the voting instructions as a proportion of all Contracts participating in the Sub-Account. Shares held by us will also be voted proportionately. The effect of proportional voting is that if a large number of Owners fail to give voting instructions, a small number of Owners may determine the outcome of the vote. If you indicate in your instructions that you do not wish to vote an item, we will apply your instructions on a pro rata basis to reduce the votes eligible to be cast.

Each person or entity having a voting interest in a Sub-Account will receive proxy material, reports, and other material relating to the appropriate Portfolio.

Please note, generally the Portfolios are not required to, and do not intend to, hold annual or other regular meetings of shareholders.

Owners have no voting rights in Great-West.

Rights Reserved by Great-West

We reserve the right to make certain changes we believe would best serve the interests of Owners and Annuitants or would be appropriate in carrying out the purposes of the Contract. Any changes will be made only to the extent and in the manner permitted by applicable laws. Also, when required by law, we will obtain your approval of the changes and approval from any appropriate regulatory authority. Approval may not be required in all cases, however. Examples of the changes we may make include:

•To operate the Series Account in any form permitted under the 1940 Act or in any other form permitted by law.

•To Transfer any assets in any Sub-Account to another Sub-Account, or to one or more separate accounts; or to add, combine or remove Sub-Accounts of the Series Account.

•To substitute, for the Portfolio shares in any Sub-Account, the shares of another Portfolio or shares of another investment company or any other investment permitted by law.

•To cease offering existing variable annuity payout options or offer other variable annuity options.

58

•To cease accepting Contributions at any time upon 30 calendar days’ notice to Owner (i) if required by law, (ii) if we were no longer able to support the guarantees under the Contract; or (iii) if we were to stop selling this Contract.

•To make any changes required by the Code or by any other applicable law in order to continue treatment of the Contract as an annuity.

•To change the time or time of day that a valuation date is deemed to have ended.

•To make any other necessary technical changes in the Contract in order to conform with any action the above provisions permit us to take, including changing the way we assess charges, without increasing them for any outstanding Contract beyond the aggregate amount guaranteed.

•To limit the number of Contracts that you may purchase.

Legal Proceedings

Currently, the Series Account is not a party to, and its assets are not subject to any material legal proceedings. Further, Great-West is not currently a party to, and its property is not currently subject to, any material legal proceedings. The lawsuits to which Great-West is a party are, in the opinion of management, in the ordinary course of business, and are not expected to have a material adverse effect on the financial results, conditions, or prospects of Great-West.

Legal Matters

Advice regarding certain legal matters concerning the federal securities laws applicable to the issue and sale of the Contract has been provided by Carlton Fields, P.A.

Commodity Exchange Act

Pursuant to Commodity Futures Trading Commission Rule 4.5, Great-West has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act. Therefore, it is not subject to registration or regulation as a commodity pool operator under the Commodity Exchange Act.

Cyber Security Risks

Because our variable annuity contract business is highly dependent upon the effective operation of our computer systems and those of our business partners, our business is vulnerable to disruptions from utility outages and susceptible to operational and information security risks resulting from information system failures (e.g., hardware and software malfunctions) cyber-attacks and similar incidents or events. These risks include, among other things, the theft, loss, misuse, corruption, and destruction of data maintained online or digitally, denial of service on our website and other operational disruption, unauthorized access to or release of confidential Owner information, and unintentional events and occurrences. Such system failures, cyber-attacks and similar incidents or events affecting us, the Portfolios, intermediaries and other affiliated or third-party service providers or business partners may adversely affect us and your Annuity Account Value. For instance, system failures, cyber-attacks and similar incidents or events may interfere with our processing of Contract transactions, including the processing of Transfer Requests from our website or with the Portfolios, impact our ability to calculate Accumulation Unit values, cause the release, loss and possible destruction of confidential Owner or business information, impede order processing, subject us and/or our service providers, intermediaries, and business partners to regulatory inquiries and proceedings (possibly resulting in fines and/or penalties), litigation, financial losses and other costs, and/or cause reputational damage. Cyber security risks may also impact the issuers of securities in which the Portfolios invest, which may cause the Portfolios underlying your Contract to lose value. The constant change in technologies and increased sophistication and activities of hackers and others continue to pose new and significant cybersecurity threats. While there can be no assurance that we or the Portfolios or our service providers or business partners will avoid these risks at all times or avoid losses affecting your Contract due to cyber-attacks, information security breaches or similar incidents or events in the future, we take reasonable steps to mitigate these risks and secure our systems from such risks.

Electronic Delivery of Information

Great-West will deliver information electronically only if the Owner has consented to receiving information in electronic form. We will use reasonable procedures to maintain the security of electronically delivered information. Information will be considered to be delivered to the Owner when an e-mail is received. If the Owner consents to receipt of information by electronic means, the Owner agrees to provide an e-mail address to Great-West and to keep that e-mail address current. Upon notice to the Owner, Great-West reserves the right

59

to modify, suspend or terminate delivery of information in electronic form at any time. The Owner may terminate delivery of information in electronic form at any time by notifying the Retirement Operations Resource Center in writing. If electronic delivery of information is terminated, then such information will be delivered by mail at no charge.

Abandoned Property Requirements

Every state has unclaimed property laws that generally provide for escheatment to the state of unclaimed property (including proceeds of annuity contracts) under various circumstances. This “escheatment” is revocable, however, and the state is obligated to pay the applicable proceeds if the property owner steps forward to claim it with the proper documentation. To help prevent such escheatment, it is important that you keep your contact and other information on file with us up to date, including the names, contact information, and identifying information for the Owner, Annuitant, and Beneficiaries.

Independent Registered Public Accounting Firm

The financial statements and financial highlights of each of the investment divisions of the Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York included in the Statement of Additional Information have been audited by Deloitte& Touche LLP, an independent registered public accounting firm, as stated in their report appearing in the Registration Statement. Such financial statements are included in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.

Independent Auditors

The statutory-basis financial statements of Great-West Life & Annuity Insurance Company of New York included in the Statement of Additional Information included in the Registration Statement have been audited by Deloitte & Touche LLP, independent auditors, as stated in their report appearing therein, and are included in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.

Available Information

You may request a free copy of the SAI. Please direct any oral, written, or electronic request for such documents to:

Service Center:

Regular Mail

P.O. Box 1854

Birmingham, Alabama 35201-1854

Overnight Mail

2801 Highway 280 South

Birmingham, Alabama 35223

(800) 838-0650

The SEC maintains an Internet website (www.sec.gov) that contains the SAI and other information filed electronically by Great-West concerning the Contract and the Series Account.

The SAI contains more specific information relating to the Series Account and Great-West, such as:

•general information;

•Great-West Life & Annuity Insurance Company of New York and the Variable Annuity-1 Series Account;

•calculation of annuity payouts;

•services;

•withholding;

•financial statements; and

•historical guaranteed annual withdrawal percentages.

60

APPENDIX A
CONDENSED FINANCIAL INFORMATION
Selected Data for Accumulation Units outstanding Throughout Each Period
For the Periods Ended December 31 

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
AB VPS GROWTH AND INCOME
Value at beginning of period	16.18	13.15	14.02	11.86	10.73	10.00
Value at end of period	16.52	16.18	13.15	14.02	11.86	10.73
Number of accumulation units outstanding at end of period	6,766	3,572	3,708	3,764	-	34,623
AB VPS LARGE CAP GROWTH
Value at beginning of period	22.61	16.64	16.10	12.05
Value at end of period	30.43	22.61	16.64	16.10
Number of accumulation units outstanding at end of period	4,441	1,731	1,731	-
AB VPS SMALL/MID CAP VALUE
Value at beginning of period	13.81	11.58	13.71	12.20
Value at end of period	14.19	13.81	11.58	13.71
Number of accumulation units outstanding at end of period	1,035	6,193	6,193	1,035
ALGER CAPITAL APPRECIATION
Value at beginning of period	17.13	12.91	13.01	9.99
Value at end of period	24.13	17.13	12.91	13.01
Number of accumulation units outstanding at end of period	0	-	-	-
ALPS RED ROCKS LISTED PRIVATE EQUITY
Value at beginning of period	16.04	11.50	13.19	10.58
Value at end of period	17.46	16.04	11.50	13.19
Number of accumulation units outstanding at end of period	994	994	994	994
AMERICAN CENTURY INVESTMENTS VP BALANCED
Value at beginning of period	13.88	11.66	12.20	10.78
Value at end of period	15.52	13.88	11.66	12.20
Number of accumulation units outstanding at end of period	24,892	22,747	22,747	22,747
AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH
Value at beginning of period	15.41	12.51	13.53	11.30	10.02	10.69	10.00
Value at end of period	17.12	15.41	12.51	13.53	11.30	10.02	10.69
Number of accumulation units outstanding at end of period	7,306	7,306	866	866	834	834	834
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL
Value at beginning of period	12.29	9.63	11.44	8.77	9.34	10.00
Value at end of period	15.37	12.29	9.63	11.44	8.77	9.34
Number of accumulation units outstanding at end of period	3,828	3,828	3,938	785	-	9,380
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE
Value at beginning of period	15.99	12.47	14.42	13.02	10.68	10.92	10.00
Value at end of period	16.06	15.99	12.47	14.42	13.02	10.68	10.92
Number of accumulation units outstanding at end of period	2,547	2,547	2,238	2,238	1,170	1,170	1,170
AMERICAN CENTURY INVESTMENTS VP VALUE
Value at beginning of period	15.02	11.90	13.19	12.20	10.19	10.00
Value at end of period	15.07	15.02	11.90	13.19	12.20	10.19
Number of accumulation units outstanding at end of period	3,423	2,977	4,373	4,451	3,166	2,031
AMERICAN FUNDS IS GROWTH-INCOME
Value at beginning of period	11.84	9.47
Value at end of period	13.32	11.84
Number of accumulation units outstanding at end of period	5,248	5,248
AMERICAN FUNDS IS NEW WORLD
Value at beginning of period	14.60	11.38	13.32	10.36
Value at end of period	17.92	14.60	11.38	13.32

A-1

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
Number of accumulation units outstanding at end of period	0		-	-
BLACKROCK GLOBAL ALLOCATION VI
Value at beginning of period	12.37	10.55	11.46	10.13	9.79	10.00
Value at end of period	14.87	12.37	10.55	11.46	10.13	9.79
Number of accumulation units outstanding at end of period	9,565	23,116	25,201	9,805	4,906	2,359
BNY MELLON IP MIDCAP STOCK
Value at beginning of period	13.76	11.53	13.73	11.97	10.44	10.00
Value at end of period	14.78	13.76	11.53	13.73	11.97	10.44
Number of accumulation units outstanding at end of period	0	-	302	302	302	302
BNY MELLON VIF GROWTH AND INCOME
Value at beginning of period	17.00	13.25	13.99	11.76	10.76	10.00
Value at end of period	21.04	17.00	13.25	13.99	11.76	10.76
Number of accumulation units outstanding at end of period	6,878	6,878	-	-	-	-
CLEARBRIDGE VARIABLE LARGE CAP GROWTH
Value at beginning of period	12.54	9.55
Value at end of period	16.29	12.54
Number of accumulation units outstanding at end of period	7,543	3,253
CLEARBRIDGE VARIABLE MID CAP
Value at beginning of period	14.24	10.78	12.40	11.07
Value at end of period	16.31	14.24	10.78	12.40
Number of accumulation units outstanding at end of period	2,758	2,709	2,602	2,602
CLEARBRIDGE VARIABLE SMALL CAP GROWTH
Value at beginning of period	16.11	12.78	12.43	10.07
Value at end of period	22.93	16.11	12.78	12.43
Number of accumulation units outstanding at end of period	3,825	3,971	7,727	5,644
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH
Value at beginning of period	17.11	12.71	13.34	10.50	10.00
Value at end of period	22.85	17.11	12.71	13.34	10.50
Number of accumulation units outstanding at end of period	11,375	11,558	11,657	4,777	1,318
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY
Value at beginning of period	27.95	18.16	19.96	14.89
Value at end of period	40.49	27.95	18.16	19.96
Number of accumulation units outstanding at end of period	4,816	1,569	1,569	1,569
DELAWARE VIP EMERGING MARKETS
Value at beginning of period	12.20	10.01	11.97	8.57
Value at end of period	15.16	12.20	10.01	11.97
Number of accumulation units outstanding at end of period	2,288	9,494	9,494	1,150
DELAWARE VIP SMALL CAP VALUE
Value at beginning of period	14.64	11.50	13.90	12.48	9.56	10.26	10.00
Value at end of period	14.27	14.64	11.50	13.90	12.48	9.56	10.26
Number of accumulation units outstanding at end of period	1,490	1,490	1,490	1,490	527	527	527
DELAWARE VIP SMID CAP CORE
Value at beginning of period	16.94	13.15	15.06	12.78	11.87	10.00
Value at end of period	18.69	16.94	13.15	15.06	12.78	11.87
Number of accumulation units outstanding at end of period	3,233	3,233	4,962	1,729	1,729	1,729
DELAWARE VIP VALUE
Value at beginning of period	12.72	10.67
Value at end of period	12.69	12.72
Number of accumulation units outstanding at end of period	2,411	1,862
DWS CAPITAL GROWTH VIP
Value at beginning of period	20.61	15.12	15.47	12.33	10.00
Value at end of period	28.46	20.61	15.12	15.47	12.33
Number of accumulation units outstanding at end of period	8,475	3,895	2,272	2,272	-

A-2

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
DWS CORE EQUITY VIP
Value at beginning of period	18.14	14.01	14.96	12.44
Value at end of period	20.93	18.14	14.01	14.96
Number of accumulation units outstanding at end of period	4,505	4,427	3,231	3,231
DWS GLOBAL SMALL CAP INDEX VIP
Value at beginning of period	10.99	9.12
Value at end of period	12.82	10.99
Number of accumulation units outstanding at end of period	4,666	4,666
DWS SMALL CAP INDEX VIP
Value at beginning of period	15.05	12.10	13.72	12.08
Value at end of period	17.86	15.05	12.10	13.72
Number of accumulation units outstanding at end of period	20,184	21,273	12,916	4,582
DWS SMALL MID CAP GROWTH VIP
Value at beginning of period	14.54	11.95	13.92	11.47
Value at end of period	18.80	14.54	11.95	13.92
Number of accumulation units outstanding at end of period	1,004	1,004	1,004	1,004
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II
Value at beginning of period	10.85	10.32
Value at end of period	11.35	10.85
Number of accumulation units outstanding at end of period	0	-
FRANKLIN SMALL CAP VALUE VIP
Value at beginning of period	14.15	11.27	13.02
Value at end of period	14.79	14.15	11.27
Number of accumulation units outstanding at end of period	1,415	1,415	1,466
GREAT-WEST AGGRESSIVE PROFILE
Value at beginning of period	11.25	8.98	10.00
Value at end of period	12.52	11.25	8.98
Number of accumulation units outstanding at end of period	0	12,085	13,577
GREAT-WEST BOND INDEX
Value at beginning of period	10.91	10.16	10.00
Value at end of period	11.62	10.91	10.16
Number of accumulation units outstanding at end of period	15,864	6,307	2,991
GREAT-WEST CONSERVATIVE PROFILE
Value at beginning of period	10.75	9.70	10.00
Value at end of period	11.56	10.75	9.70
Number of accumulation units outstanding at end of period	135,628	72,164	71,763
GREAT-WEST INTERNATIONAL INDEX
Value at beginning of period	10.67	10.00
Value at end of period	11.39	10.67
Number of accumulation units outstanding at end of period	11,265	1,480
GREAT-WEST MID CAP VALUE
Value at beginning of period	13.87	11.59	13.30	11.44
Value at end of period	13.73	13.87	11.59	13.30
Number of accumulation units outstanding at end of period	1,273	1,273	1,273	1,273
GREAT-WEST MODERATE PROFILE
Value at beginning of period	10.97	9.39	10.00
Value at end of period	12.12	10.97	9.39
Number of accumulation units outstanding at end of period	90,823	71,383	9,011
GREAT-WEST MODERATELY AGGRESSIVE PROFILE
Value at beginning of period	11.06	9.25
Value at end of period	12.28	11.06
Number of accumulation units outstanding at end of period	8,499	8,738
GREAT-WEST MODERATELY CONSERVATIVE PROFILE
Value at beginning of period	10.85	9.54	10.00

A-3

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
Value at end of period	11.81	10.85	9.54
Number of accumulation units outstanding at end of period	129,916	59,303	20,039
GREAT-WEST REAL ESTATE INDEX
Value at beginning of period	10.57	10.00
Value at end of period	9.29	10.57
Number of accumulation units outstanding at end of period	8,403	8,403
GREAT-WEST SECUREFOUNDATION BALANCED
Value at beginning of period	13.48	11.82	12.25	10.91	10.10	10.24	10.00
Value at end of period	15.26	13.48	11.82	12.25	10.91	10.10	10.24
Number of accumulation units outstanding at end of period	1,126,620	1,132,627	1,169,431	1,207,440	902,965	596,892	159,148
GREAT-WEST T. ROWE PRICE MID CAP GROWTH
Value at beginning of period	14.25	10.93	11.26
Value at end of period	17.57	14.25	10.93
Number of accumulation units outstanding at end of period	1,879	12,770	15,994
INVESCO OPPENHEIMER V.I. GLOBAL
Value at beginning of period	15.56	11.88	13.78	10.15	10.20	9.88	10.00
Value at end of period	19.73	15.56	11.88	13.78	10.15	10.20	9.88
Number of accumulation units outstanding at end of period	3,124	3,124	4,679	4,679	1,254	1,254	1,254
INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH
Value at beginning of period	11.54	9.03	11.28	8.99	9.25	10.00
Value at end of period	13.93	11.54	9.03	11.28	8.99	9.25
Number of accumulation units outstanding at end of period	8,511	8,469	354	354	354	354
INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP
Value at beginning of period	15.22	12.11	13.59	11.99	10.22	10.93	10.00
Value at end of period	18.13	15.22	12.11	13.59	11.99	10.22	10.93
Number of accumulation units outstanding at end of period	4,262	4,182	4,344	3,451	2,600	2,593	1,193
INVESCO V.I. COMSTOCK
Value at beginning of period	14.52	11.67	13.37	11.42
Value at end of period	14.31	14.52	11.67	13.37
Number of accumulation units outstanding at end of period	0	8,727	8,727	-
INVESCO V.I. GROWTH & INCOME
Value at beginning of period	14.74	11.85	13.77
Value at end of period	14.95	14.74	11.85
Number of accumulation units outstanding at end of period	7,456	7,456	7,456
INVESCO V.I. HIGH YIELD
Value at beginning of period	11.84	10.50	10.94
Value at end of period	12.16	11.84	10.50
Number of accumulation units outstanding at end of period	1,089	1,089	1,089
INVESCO V.I. INTERNATIONAL GROWTH
Value at beginning of period	12.12	9.49	11.23	9.19	9.29	10.00
Value at end of period	13.73	12.12	9.49	11.23	9.19	9.29
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
INVESCO V.I. SMALL CAP EQUITY
Value at beginning of period	13.24	10.52	12.47	11.01
Value at end of period	16.73	13.24	10.52	12.47
Number of accumulation units outstanding at end of period	3,100	3,100	6,100	1,439
IVY VIP INTERNATIONAL CORE EQUITY
Value at beginning of period	10.64	9.02	11.05
Value at end of period	11.33	10.64	9.02
Number of accumulation units outstanding at end of period	6,121	6,121	6,121
JANUS HENDERSON VIT BALANCED
Value at beginning of period	15.27	12.57	12.60	10.73	10.36	10.00
Value at end of period	17.3	15.27	12.57	12.60	10.73	10.36
Number of accumulation units outstanding at end of period	114,984	69,688	32,062	17,929	14,982	2,655
JANUS HENDERSON VIT FLEXIBLE BOND

A-4

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
Value at beginning of period	11.08	10.20	10.40	10.13	9.97	10.04	10.00
Value at end of period	12.13		10.20	10.40	10.13	9.97	10.04
Number of accumulation units outstanding at end of period	0	-	700	700	1,055	1,055	355
JANUS HENDERSON VIT GLOBAL RESEARCH
Value at beginning of period	15.19	11.85	12.81	10.15	10.01	10.00
Value at end of period	18.12	15.19	11.85	12.81	10.15	10.01
Number of accumulation units outstanding at end of period	12,424	8,568	7,570	7,570	-	-
JANUS HENDERSON VIT GLOBAL TECHNOLOGY
Value at beginning of period	26.26	18.25	18.20	12.64
Value at end of period	39.32	26.26	18.25	18.20
Number of accumulation units outstanding at end of period	8,990	5,332	2,789	784
JPMORGAN INSURANCE TRUST SMALL CAP CORE
Value at beginning of period	15.14	12.23	13.98	12.21	10.22	10.00
Value at end of period	17.10	15.14	12.23	13.98	12.21	10.22
Number of accumulation units outstanding at end of period	0	-	-	-	-	2,015
LAZARD RETIREMENT EMERGING MARKETS EQUITY
Value at beginning of period	10.25	8.73	10.79	8.50	7.08	10.00
Value at end of period	10.05	10.25	8.73	10.79	8.50	7.08
Number of accumulation units outstanding at end of period	6,507	6,374	10,240	8,616	719	794
LVIP BARON GROWTH OPPORTUNITIES
Value at beginning of period	17.36	12.81	13.42	10.62	10.12	10.00
Value at end of period	23.13	17.36	12.81	13.42	10.62	10.12
Number of accumulation units outstanding at end of period	1,584	1,026	1,026	1,026	-	-
MFS VIT II INTERNATIONAL INTRINSIC VALUE
Value at beginning of period	14.81	11.86	13.23	10.50	10.17	9.63	10.00
Value at end of period	17.69	14.81	11.86	13.23	10.50	10.17	9.63
Number of accumulation units outstanding at end of period	6,596	6,624	9,273	8,662	2,383	2,383	364
MFS VIT III MID CAP VALUE
Value at beginning of period	12.53	9.62	10.94	10.00
Value at end of period	12.93	12.53	9.62	10.94
Number of accumulation units outstanding at end of period	1,726	1,726	1,924	1,924
MFS VIT UTILITIES SERIES
Value at beginning of period	13.27	10.71	10.69
Value at end of period	13.93	13.27	10.71
Number of accumulation units outstanding at end of period	7,504	7,504	-
NVIT MID CAP INDEX
Value at beginning of period	15.27	12.25	13.95	12.15	10.19	10.00
Value at end of period	17.12	15.27	12.25	13.95	12.15	10.19
Number of accumulation units outstanding at end of period	23,340	17,192	14,006	5,326	116	116
PIMCO VIT COMMODITY REALRETURN STRATEGY
Value at beginning of period	6.00	5.42	6.35	6.26
Value at end of period	6.04	6.00	5.42	6.35
Number of accumulation units outstanding at end of period	8,245	8,245	9,192	9,192
PIMCO VIT HIGH YIELD
Value at beginning of period	12.63	11.08	11.46	10.82	9.68	10.00
Value at end of period	13.27	12.63	11.08	11.46	10.82	9.68
Number of accumulation units outstanding at end of period	9,842	9,753	6,959	5,426	1,280	1,127
PIMCO VIT LOW DURATION
Value at beginning of period	10.35	10.01	10.04	9.97	9.90	10.00
Value at end of period	10.59	10.35	10.01	10.04	9.97	9.90
Number of accumulation units outstanding at end of period	10,981	10,371	6,321	4,460	3,888	13,846
PIMCO VIT REAL RETURN
Value at beginning of period	10.78	10.01	10.30	10.00
Value at end of period	11.96	10.78	10.01	10.30
Number of accumulation units outstanding at end of period	2,292	2,292	2,476	2,476

A-5

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
PIMCO VIT TOTAL RETURN
Value at beginning of period	11.37	10.56	10.69	10.26	10.05	10.00
Value at end of period	12.28	11.37	10.56	10.69	10.26	10.05
Number of accumulation units outstanding at end of period	61,233	65,058	56,695	43,971	19,703	6,758
PIONEER SELECT MID CAP GROWTH VCT
Value at beginning of period	17.53	13.26	14.27	11.04
Value at end of period	24.24	18.53	13.26	14.27
Number of accumulation units outstanding at end of period	0	-	5,316	5,316
PUTNAM VT EQUITY INCOME
Value at beginning of period	16.06	12.39	13.63
Value at end of period	16.88	16.06	12.39
Number of accumulation units outstanding at end of period	0	11,565	-
PUTNAM VT GLOBAL ASSET ALLOCATION
Value at beginning of period	13.14	11.26	12.19	10.61
Value at end of period	14.70	13.14	11.26	12.19
Number of accumulation units outstanding at end of period	6,867	6,867	6,867	6,867
PUTNAM VT INCOME
Value at beginning of period	11.45	10.27
Value at end of period	12.06	11.45
Number of accumulation units outstanding at end of period	17,897	1,059
PUTNAM VT MULTI-CAP CORE
Value at beginning of period	17.34	13.22	14.38	11.75	10.53	10.81	10.00
Value at end of period	20.26	17.34	13.22	14.38	11.75	10.53	10.81
Number of accumulation units outstanding at end of period	8,242	3,360	3,360	3,360	2,334	2,334	2,334
SCHWAB GOVERNMENT MONEY MARKET
Value at beginning of period	10.03	9.90	9.82	9.84	9.90	9.96	10.00
Value at end of period	9.99	10.03	9.90	9.82	9.84	9.90	9.96
Number of accumulation units outstanding at end of period	258,079	66,319	87,553	69,644	60,815	15,636	15,760
SCHWAB S&P 500 INDEX
Value at beginning of period	18.06	13.83	14.56	12.04	10.85	10.79	10.00
Value at end of period	21.23	18.06	13.83	14.56	12.04	10.85	10.79
Number of accumulation units outstanding at end of period	211,532	296,300	186,404	118,866	56,538	60,960	1,277
T. ROWE PRICE HEALTH SCIENCES
Value at beginning of period	19.64	15.36	15.33	12.12	13.67	12.23	10.00
Value at end of period	25.22	19.64	15.36	15.33	12.12	13.67	12.23
Number of accumulation units outstanding at end of period	11,652	7,788	883	883	1,005	1,005	1,005
TEMPLETON FOREIGN VIP
Value at beginning of period	9.27	8.29	9.87	8.52	8.00	10.00
Value at end of period	9.11	9.27	8.29	9.87	8.52	8.00
Number of accumulation units outstanding at end of period	2,982	2,982	9,670	9,670	3,123	1,406
TEMPLETON GLOBAL BOND VIP
Value at beginning of period	9.96	9.83	9.71	9.59	9.37	9.86	10.00
Value at end of period	9.38	9.96	9.83	9.71	9.59	9.37	9.86
Number of accumulation units outstanding at end of period	731	731	1,236	1,236	1,653	4,555	417
TOUCHSTONE VST BOND
Value at beginning of period	10.73	9.78	10.03	9.74	9.72	10.00
Value at end of period	11.70	10.73	9.78	10.03	9.74	9.72
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
TOUCHSTONE VST COMMON STOCK CLASS SC
Value at beginning of period	16.20	12.80	14.01	12.41
Value at end of period	19.87	16.20	12.80	14.01
Number of accumulation units outstanding at end of period	0	8,965	8,965	-
VAN ECK VIP GLOBAL HARD ASSETS
Value at beginning of period	5.42	7.89	6.88	7.07
Value at end of period	6.40	5.42	4.89	6.88

A-6

Investment Division (0.65)	2020	2019	2018	2017	2016	2015	2014
Number of accumulation units outstanding at end of period	0	-	-	-
WELLS FARGO VT DISCOVERY
Value at beginning of period	18.23	13.20	14.29	11.14
Value at end of period	29.46	18.23	13.20	14.29
Number of accumulation units outstanding at end of period	0	-	-	-
WELLS FARGO VT OMEGA GROWTH
Value at beginning of period	19.09	14.02	14.08	10.53
Value at end of period	27.16	19.09	14.02	14.08
Number of accumulation units outstanding at end of period	1,012	1,012	1,012	1,012

 

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
AB VPS GROWTH AND INCOME
Value at beginning of period	16.01	13.03	13.92	11.80	10.69	10.00
Value at end of period	16.3	16.01	13.03	13.92	11.80	10.69
Number of accumulation units outstanding at end of period	0	-	-	180	-	-
AB VPS LARGE CAP GROWTH
Value at beginning of period	22.35	16.49	15.99	11.99
Value at end of period	30.03	22.35	16.49	15.99
Number of accumulation units outstanding at end of period	0	-	61	161
AB VPS SMALL/MID CAP VALUE
Value at beginning of period	13.66	11.47	13.62	12.14
Value at end of period	14.00	13.66	11.47	13.62
Number of accumulation units outstanding at end of period	0	-	-	-
ALGER CAPITAL APPRECIATION
Value at beginning of period	16.97	12.82	12.94	9.96
Value at end of period	23.86	16.97	12.82	12.94
Number of accumulation units outstanding at end of period	0	-	-	153
ALPS RED ROCKS LISTED PRIVATE EQUITY
Value at beginning of period	15.92	11.44	13.15	10.56
Value at end of period	17.30	15.92	11.44	13.15
Number of accumulation units outstanding at end of period	0	-	-	-
AMERICAN CENTURY INVESTMENTS VP BALANCED
Value at beginning of period	13.73	11.55	12.12	10.73
Value at end of period	15.32	13.73	11.55	12.12
Number of accumulation units outstanding at end of period	0	-	-	-
AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH
Value at beginning of period	15.24	12.40	13.43	11.24	9.99	10.00
Value at end of period	16.90	15.24	12.40	13.43	11.24	9.99
Number of accumulation units outstanding at end of period	826	826	762	804	-	-
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL
Value at beginning of period	12.15	9.55	11.36	8.73	9.32	10.00
Value at end of period	15.17	12.15	9.55	11.36	8.73	9.32
Number of accumulation units outstanding at end of period	964	1,046	951	1,110	-	-
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE
Value at beginning of period	15.81	12.36	14.32	12.96	10.65	10.91	10.00
Value at end of period	15.85	15.81	12.36	14.32	12.96	10.65	10.91
Number of accumulation units outstanding at end of period	839	839	839	839	839	839	839
AMERICAN CENTURY INVESTMENTS VP VALUE
Value at beginning of period	14.85	11.79	13.09	12.14	10.16	10.00
Value at end of period	14.87	14.85	11.79	13.09	12.14	10.16
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
AMERICAN FUNDS IS GROWTH-INCOME

A-7

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
Value at beginning of period	11.80	9.46
Value at end of period	13.25	11.80
Number of accumulation units outstanding at end of period	0	-
AMERICAN FUNDS IS NEW WORLD
Value at beginning of period	14.49	11.31	13.28	10.34
Value at end of period	17.75	14.49	11.31	13.28
Number of accumulation units outstanding at end of period	0	-	-	152
BLACKROCK GLOBAL ALLOCATION VI
Value at beginning of period	12.23	10.46	11.38	10.08	9.76	10.00
Value at end of period	14.68	12.23	10.46	11.38	10.08	9.76
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
BNY MELLON IP MIDCAP STOCK
Value at beginning of period	13.61	11.42	13.63	11.91	10.40	10.00
Value at end of period	14.59	13.61	11.42	13.63	11.91	10.40
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
BNY MELLON VIF GROWTH AND INCOME
Value at beginning of period	16.81	13.13	13.89	11.70	10.73	10.00
Value at end of period	20.77	16.81	13.13	13.89	11.70	10.73
Number of accumulation units outstanding at end of period	1,866	1,866	1,866	1,866	1,866	1,866
CLEARBRIDGE VARIABLE LARGE CAP GROWTH
Value at beginning of period	12.50	9.54
Value at end of period	16.20	12.50
Number of accumulation units outstanding at end of period	0	-
CLEARBRIDGE VARIABLE MID CAP
Value at beginning of period	14.13	10.72	12.36	11.05
Value at end of period	16.16	14.13	10.72	12.36
Number of accumulation units outstanding at end of period	1,467	-	-	-
CLEARBRIDGE VARIABLE SMALL CAP GROWTH
Value at beginning of period	15.96	12.68	12.37	10.04
Value at end of period	22.67	15.96	12.68	12.37
Number of accumulation units outstanding at end of period	0	-	-	-
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH
Value at beginning of period	16.98	12.64	13.30	10.49	10.00
Value at end of period	22.64	16.98	12.64	13.30	10.49
Number of accumulation units outstanding at end of period	0	-	-	152	-
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY
Value at beginning of period	27.64	17.99	19.82	14.81
Value at end of period	39.96	27.64	17.99	19.82
Number of accumulation units outstanding at end of period	0	630	-	182
DELAWARE VIP EMERGING MARKETS
Value at beginning of period	12.06	9.92	11.88	8.53
Value at end of period	14.96	12.06	9.92	11.88
Number of accumulation units outstanding at end of period	0	1,436	-	222
DELAWARE VIP SMALL CAP VALUE
Value at beginning of period	14.48	11.39	13.80	12.42	9.53	10.00
Value at end of period	14.08	14.48	11.39	13.80	12.42	9.53
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
DELAWARE VIP SMID CAP CORE
Value at beginning of period	16.75	13.03	14.95	12.71	11.84	10.00
Value at end of period	18.44	16.75	13.03	14.95	12.71	11.84
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
DELAWARE VIP VALUE
Value at beginning of period	12.65	10.64

A-8

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
Value at end of period	12.60	12.65
Number of accumulation units outstanding at end of period	0	-
DWS CAPITAL GROWTH VIP
Value at beginning of period	20.38	14.99	15.36	12.26	10.00
Value at end of period	28.09	20.38	14.99	15.36	12.26
Number of accumulation units outstanding at end of period	0	-	-	134	-
DWS CORE EQUITY VIP
Value at beginning of period	17.94	13.88	14.85	12.37
Value at end of period	20.66	17.94	13.88	14.85
Number of accumulation units outstanding at end of period	0	-	-	-
DWS GLOBAL SMALL CAP VIP
Value at beginning of period	10.87	9.04
Value at end of period	12.65	10.87
Number of accumulation units outstanding at end of period	0	-
DWS SMALL CAP INDEX VIP
Value at beginning of period	14.89	11.99	13.62	12.02
Value at end of period	17.63	14.89	11.99	13.62
Number of accumulation units outstanding at end of period	0	-	-	-
DWS SMALL MID CAP GROWTH VIP
Value at beginning of period	14.37	11.84	13.82	11.42
Value at end of period	18.55	14.37	11.84	13.82
Number of accumulation units outstanding at end of period	0	-	-	-
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II
Value at beginning of period	10.73	10.22
Value at end of period	11.20	10.73
Number of accumulation units outstanding at end of period	57,581	56,242
FRANKLIN SMALL CAP VALUE VIP
Value at beginning of period	13.99	11.17	12.93
Value at end of period	14.59	13.99	11.17
Number of accumulation units outstanding at end of period	0	-	-
GREAT-WEST AGGRESSIVE PROFILE
Value at beginning of period	11.22	8.97	10.00
Value at end of period	12.46	11.22	8.97
Number of accumulation units outstanding at end of period	0	-	-
GREAT-WEST BOND INDEX
Value at beginning of period	10.88	10.15	10.00
Value at end of period	11.56	10.88	10.15
Number of accumulation units outstanding at end of period	0	-	-
GREAT-WEST CONSERVATIVE PROFILE
Value at beginning of period	10.72	9.69	10.00
Value at end of period	11.50	10.72	9.69
Number of accumulation units outstanding at end of period	0	-	-
GREAT-WEST INTERNATIONAL INDEX
Value at beginning of period	10.65	10.00
Value at end of period	11.36	10.65
Number of accumulation units outstanding at end of period	0	-
GREAT-WEST MID CAP VALUE
Value at beginning of period	13.77	11.52	13.25	11.43
Value at end of period	13.6	13.77	11.52	13.25
Number of accumulation units outstanding at end of period	0	-	-	-
GREAT-WEST MODERATE PROFILE
Value at beginning of period	10.93	9.38	10.00
Value at end of period	12.06	10.93	9.38
Number of accumulation units outstanding at end of period	0	-	-

A-9

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
GREAT-WEST MODERATELY AGGRESSIVE PROFILE
Value at beginning of period	11.03	9.24
Value at end of period	12.22	11.03
Number of accumulation units outstanding at end of period	0	-
GREAT-WEST MODERATELY CONSERVATIVE PROFILE
Value at beginning of period	10.81	9.53	10.00
Value at end of period	11.75	10.81	9.53
Number of accumulation units outstanding at end of period	0	-	-
GREAT-WEST REAL ESTATE INDEX
Value at beginning of period	10.56	10.00
Value at end of period	9.26	10.56
Number of accumulation units outstanding at end of period	0	-
GREAT-WEST SECUREFOUNDATION BALANCED
Value at beginning of period	13.33	11.41	12.16	10.86	10.07	10.23	10.00
Value at end of period	15.06	13.33	11.41	12.16	10.86	10.07	10.23
Number of accumulation units outstanding at end of period	82,140	85,887	89,770	94,003	98,212	102,826	41,078
GREAT-WEST T. ROWE PRICE MID CAP GROWTH
Value at beginning of period	14.17	10.89	11.24
Value at end of period	17.44	14.17	10.89
Number of accumulation units outstanding at end of period	0	-	-
INVESCO OPPENHEIMER V.I. GLOBAL
Value at beginning of period	15.39	11.77	13.68	10.09	10.17	10.00
Value at end of period	19.47	15.39	11.77	13.68	10.09	10.17
Number of accumulation units outstanding at end of period	5,273	5,176	884	1,041	884	884
INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH
Value at beginning of period	11.41	8.95	11.20	8.95	9.22	10.00
Value at end of period	13.75	11.41	8.95	11.20	8.95	9.22
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP
Value at beginning of period	15.05	12.00	13.50	11.92	10.19	10.92	10.00
Value at end of period	17.89	15.05	12.00	13.50	11.92	10.19	10.92
Number of accumulation units outstanding at end of period	2,158	850	850	850	850	850	850
INVESCO V.I. COMSTOCK
Value at beginning of period	14.36	11.56	13.27	11.36
Value at end of period	14.12	14.36	11.56	13.27
Number of accumulation units outstanding at end of period	0	-	-	-
INVESCO V.I. GROWTH & INCOME
Value at beginning of period	14.58	11.74	13.67
Value at end of period	14.76	14.58	11.74
Number of accumulation units outstanding at end of period	0	-	-
INVESCO V.I. HIGH YIELD
Value at beginning of period	11.71	10.40	10.86
Value at end of period	12.00	11.71	10.40
Number of accumulation units outstanding at end of period	0	-	-
INVESCO V.I. INTERNATIONAL GROWTH
Value at beginning of period	11.98	9.40	11.15	9.14	9.26	10.00
Value at end of period	13.54	11.98	9.40	11.15	9.14	9.26
Number of accumulation units outstanding at end of period	1,018	1,018	1,018	1,018	1,018	1,018
INVESCO V.I. SMALL CAP EQUITY
Value at beginning of period	13.09	10.43	12.39	10.95
Value at end of period	16.51	13.09	10.43	12.39
Number of accumulation units outstanding at end of period	0	-	-	-
IVY VIP INTERNATIONAL CORE EQUITY
Value at beginning of period	10.54	8.96	10.99
Value at end of period	11.21	10.54	8.96

A-10

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
Number of accumulation units outstanding at end of period	0	-	-
JANUS HENDERSON VIT BALANCED
Value at beginning of period	15.10	12.45	12.51	10.68	10.32	10.00
Value at end of period	17.07	15.10	12.45	12.51	10.68	10.32
Number of accumulation units outstanding at end of period	15,462	31,565	31,682	31,870	27,564	9,406
JANUS HENDERSON VIT FLEXIBLE BOND
Value at beginning of period	10.95	10.11	10.33	10.08	9.94	10.00
Value at end of period	11.97	10.95	10.11	10.33	10.08	9.94
Number of accumulation units outstanding at end of period	5,846	5,846	5,846	5,846	5,846	5,846
JANUS HENDERSON VIT GLOBAL RESEARCH
Value at beginning of period	15.03	11.74	12.72	10.10	9.97	10.00
Value at end of period	17.89	15.03	11.74	12.72	10.10	9.97
Number of accumulation units outstanding at end of period	706	706	706	706	706	706
JANUS HENDERSON VIT GLOBAL TECHNOLOGY
Value at beginning of period	25.97	18.08	18.07	12.58
Value at end of period	38.81	25.97	18.08	18.07
Number of accumulation units outstanding at end of period	2,691	3,330	56	183
JPMORGAN INSURANCE TRUST SMALL CAP CORE
Value at beginning of period	14.97	12.12	13.88	12.15	10.19	10.00
Value at end of period	16.88	14.97	12.12	13.88	12.15	10.19
Number of accumulation units outstanding at end of period	1,825	1,825	1,825	1,825	1,825	1,825
LAZARD RETIREMENT EMERGING MARKETS EQUITY
Value at beginning of period	10.14	8.65	10.72	8.45	7.06	10.00
Value at end of period	9.92	10.14	8.65	10.72	8.45	7.06
Number of accumulation units outstanding at end of period	1,084	1,084	1,084	1,084	1,084	1,084
LVIP BARON GROWTH OPPORTUNITIES
Value at beginning of period	17.16	12.69	13.33	10.56	10.09	10.69	10.00
Value at end of period	22.82	17.16	12.69	13.33	10.56	10.09	10.69
Number of accumulation units outstanding at end of period	857	857	857	857	857	857	857
MFS VIT II INTERNATIONAL INTRINSIC VALUE
Value at beginning of period	14.65	11.75	13.13	10.44	10.14	10.00
Value at end of period	17.45	14.65	11.75	13.13	10.44	10.14
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
MFS VIT III MID CAP VALUE
Value at beginning of period	12.47	9.59	10.92	10.00
Value at end of period	12.84	12.47	9.59	10.92
Number of accumulation units outstanding at end of period	0	-	-	-
MFS VIT UTILITIES SERIES
Value at beginning of period	13.13	10.61	10.61
Value at end of period	13.75	13.13	10.61
Number of accumulation units outstanding at end of period	0	-	95
NVIT MID CAP INDEX
Value at beginning of period	15.10	12.14	13.85	12.08	10.16	10.53	10.00
Value at end of period	16.89	15.10	12.14	13.85	12.08	10.16	10.53
Number of accumulation units outstanding at end of period	1,448	1,448	1,447	1,447	1,447	1,447	864
PIMCO VIT COMMODITY REALRETURN STRATEGY
Value at beginning of period	5.93	5.37	6.31	6.22
Value at end of period	5.96	5.93	5.37	6.31
Number of accumulation units outstanding at end of period	0	-	-	-
PIMCO VIT HIGH YIELD
Value at beginning of period	12.48	10.97	11.37	10.75	9.65	9.89	10.00
Value at end of period	13.09	12.48	10.97	11.37	10.75	9.65	9.89
Number of accumulation units outstanding at end of period	901	901	901	901	901	901	901
PIMCO VIT LOW DURATION
Value at beginning of period	10.23	9.92	9.97	9.92	9.87	10.00

A-11

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
Value at end of period	10.45	10.23	9.92	9.97	9.92	9.87
Number of accumulation units outstanding at end of period	3,231	3,091	3,099	2,983	1,983	1,983
PIMCO VIT REAL RETURN
Value at beginning of period	10.70	9.95	10.27	9.99
Value at end of period	11.85	10.70	9.95	10.27
Number of accumulation units outstanding at end of period	1,118	1,051	1,084	977
PIMCO VIT TOTAL RETURN
Value at beginning of period	11.25	10.47	10.61	10.20	10.02	10.00
Value at end of period	12.11	11.25	10.47	10.61	10.20	10.02
Number of accumulation units outstanding at end of period	6,941	31,324	31,090	31,090	3,190	6,707
PIONEER SELECT MID CAP GROWTH VCT
Value at beginning of period	17.33	13.14	14.17	10.99
Value at end of period	23.92	17.33	13.14	14.17
Number of accumulation units outstanding at end of period	0	-	-	126
PUTNAM VT EQUITY INCOME
Value at beginning of period	15.88	12.28	13.53
Value at end of period	16.66	15.88	12.28
Number of accumulation units outstanding at end of period	0	-	-
PUTNAM VT GLOBAL ASSET ALLOCATION
Value at beginning of period	13.04	11.20	12.15	10.60
Value at end of period	14.56	13.04	11.20	12.15
Number of accumulation units outstanding at end of period	4,896	4,780	-	-
PUTNAM VT INCOME
Value at beginning of period	11.35	10.19
Value at end of period	11.93	11.35
Number of accumulation units outstanding at end of period	0	-
PUTNAM VT MULTI-CAP CORE
Value at beginning of period	17.14	13.10	14.27	11.69	10.49	10.00
Value at end of period	20.00	17.15	13.10	14.27	11.69	10.49
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
SCHWAB GOVERNMENT MONEY MARKET
Value at beginning of period	9.91	9.81	9.75	9.79	9.87	9.95	10.00
Value at end of period	9.86	9.91	9.81	9.75	9.79	9.87	9.95
Number of accumulation units outstanding at end of period	11,967	12,921	16,160	7,670	12,560	5,199	29,574
SCHWAB S&P 500 INDEX
Value at beginning of period	17.86	13.70	14.46	11.98	10.82	10.78	10.00
Value at end of period	20.95	17.86	13.70	14.46	11.98	10.82	10.78
Number of accumulation units outstanding at end of period	39,871	43,928	30,226	30,416	33,155	22,784	3,353
T. ROWE PRICE HEALTH SCIENCES
Value at beginning of period	19.42	15.22	15.22	12.06	13.62	10.00
Value at end of period	24.89	19.42	15.22	15.22	12.06	13.62
Number of accumulation units outstanding at end of period	0	-	67	83	-	-
TEMPLETON FOREIGN VIP
Value at beginning of period	9.17	8.22	9.80	8.47	7.97	10.00
Value at end of period	8.99	9.17	8.22	9.80	8.47	7.97
Number of accumulation units outstanding at end of period	0		-	-	-	-
TEMPLETON GLOBAL BOND VIP
Value at beginning of period	9.85	9.74	9.64	9.54	9.34	10.00
Value at end of period	9.25	9.85	9.74	9.64	9.54	9.34
Number of accumulation units outstanding at end of period	0	-	-	-	-	-
TOUCHSTONE VST BOND
Value at beginning of period	10.61	9.69	9.96	9.69	9.69	9.90	10.00
Value at end of period	11.54	10.61	9.69	9.96	9.69	9.69	9.90
Number of accumulation units outstanding at end of period	4,834	4,834	4,834	4,834	4,834	4,834	907
TOUCHSTONE VST COMMON STOCK CLASS SC

A-12

Investment Division (0.85)	2020	2019	2018	2017	2016	2015	2014
Value at beginning of period	16.02	12.69	13.91	12.34
Value at end of period	19.61	16.02	12.69	13.91
Number of accumulation units outstanding at end of period	0	-	-	-
VAN ECK VIP GLOBAL HARD ASSETS
Value at beginning of period	5.36	4.85	6.83	7.03
Value at end of period	6.32	5.36	4.85	6.83
Number of accumulation units outstanding at end of period	0	-	205	-
WELLS FARGO VT DISCOVERY
Value at beginning of period	18.03	13.08	14.19	11.08
Value at end of period	29.07	18.03	13.08	14.19
Number of accumulation units outstanding at end of period	0	-	-	124
WELLS FARGO VT OMEGA GROWTH
Value at beginning of period	18.88	13.89	13.97	10.47
Value at end of period	26.80	18.88	13.89	13.97
Number of accumulation units outstanding at end of period	0	-	73	150

A-13

Appendix B - Net Investment Factor

The Net Investment Factor is determined by dividing (a) by (b), and subtracting (c) from the result where:

(a) is the net result of:

(i)

 the net asset value per share of the Portfolio shares determined as of the end of the current valuation period, plus

(ii)

 the per share amount of any dividend (or, if applicable, capital gain distributions) made by the Portfolio on shares if the “ex-dividend” date occurs during the current valuation period, plus or minus

(iii)

 a per unit charge or credit for any taxes incurred by or provided for in the Sub-Account, which is determined by Great-West to have resulted from the investment operations of the Sub-Account, and

(b) is the result of:

(i)

 the net asset value per share of the Portfolio shares determined as of the end of the immediately preceding valuation period; plus or minus

(ii)

 the per unit charge or credit for any taxes incurred by or reserved for in the Sub-Account for the immediately preceding valuation period; and

(c) is an amount representing the Mortality and Expense Risk Charge deducted from each Sub-Account on a daily basis. Such amount is equal to 0.65% if you have selected Death Benefit Option 1 or 0.85% if you have selected Death Benefit Option 2.

The Net Investment Factor may be greater than, less than, or equal to one. Therefore, the Accumulation Unit value may increase, decrease, or remain unchanged.

The net asset value per share referred to in paragraphs (a)(i) and (b) above, reflects the investment performance of the Portfolio as well as the payment of Portfolio expenses.

B-1

Appendix C - Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements

Below are the historical Guaranteed Annual Withdrawal percentages (GAW%) and Joint GAW% from the Rate Sheet Supplements applicable to the GLWB Rider described in the Prospectus for the Contract. A complete description of the GLWB Rider can be found in the section of the Prospectus entitled “Guaranteed Lifetime Withdrawal Benefit Rider.”

CONTRACT APPLICATIONS SIGNED PRIOR TO MAY 1, 2017:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed prior to May 1, 2017.

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table: 

GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	4.00%	5.00%	6.00%	7.00%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table: 

Joint GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	3.50%	4.50%	5.50%	6.50%

CONTRACT APPLICATIONS SIGNED BETWEEN MAY 1, 2017 AND APRIL 30, 2018:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed between May 1, 2017 and April 30, 2018.

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table: 

GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	4.00%	5.00%	5.50%	6.50%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table: 

Joint GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	3.50%	4.50%	5.00%	6.00%

CONTRACT APPLICATIONS SIGNED BETWEEN MAY 1, 2018 AND APRIL 30, 2019:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed between May 1, 2018 and April 30, 2019.

C-1

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table: 

GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	4.00%	5.10%	5.50%	6.50%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table: 

Joint GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	3.50%	4.60%	5.00%	6.00%

CONTRACT APPLICATIONS SIGNED BETWEEN MAY 1, 2019 AND DECEMBER 14, 2020:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed between May 1, 2019 and December14, 2020 (the final date the Contract was available for purchase).

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table: 

GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 74	Age 75 - 79	Age 80+
% of Benefit Base	4.00%	5.10%	5.50%	5.50%	6.50%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table: 

Joint GAW% Table
	Age 59 1∕2 - 64	Age 65 - 69	Age 70 - 74	Age 75 - 79	Age 80+
% of Benefit Base	3.50%	4.60%	5.00%	5.00%	6.00%

Important Note for all applications signed between January 1, 2017, and April 30, 2018: As noted in your Prospectus and GLWB Rider, GAWs and Joint GAWs are calculated by multiplying the GAW% (or Joint GAW%) by your Benefit Base. Accordingly, for all Rate Sheet Supplements applicable to Contract applications signed between January 1, 2017 and April 30, 2018, the GAW% Tables and Joint GAW% Tables should reflect “% of Benefit Base” (rather than “% of Covered Fund Value”) as disclosed in the Prospectus and stated in your GLWB Rider.

C-2

VARIABLE ANNUITY-1 SERIES ACCOUNT

SCHWAB ONESOURCE CHOICE VARIABLE ANNUITYTM

Individual Flexible Premium Deferred Variable Annuity Contracts

issued by

Great-West Life & Annuity Insurance Company  of New York
370 Lexington Avenue, Suite 703
New York, New York 10017

STATEMENT OF ADDITIONAL INFORMATION

This Statement of Additional Information is not a prospectus and should be read in conjunction with the Prospectus, dated May 10, 2021, which is available without charge by contacting the Service Center, Regular Mail: P.O. Box 1854, Birmingham, Alabama 35201-1854;Overnight Mail: 2801 Highway 280 South, Birmingham, Alabama 35223 or at (800) 838-0650.

The date of this Statement of Additional Information is
May 10, 2021

i

TABLE OF CONTENTS 

	Page
GENERAL INFORMATION
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK
AND THE VARIABLE ANNUITY-1 SERIES ACCOUNT
CALCULATION OF ANNUITY PAYOUTS
POSTPONEMENT OF PAYOUTS
SERVICES
WITHHOLDING
FINANCIAL STATEMENTS

ii

GENERAL INFORMATION

In order to supplement the description in the Prospectus, the following provides additional information about the Contracts and other matters which may be of interest to you. Terms not defined in this Statement of Additional Information have the same meanings as are defined in the Prospectus under the heading “Definitions.”

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

AND THE VARIABLE ANNUITY-1 SERIES ACCOUNT

Great-West Life & Annuity Insurance Company of New York (“Great-West”) formerly known as First Great-West Life & Annuity Insurance Company, and before that as Canada Life Insurance Company of New York), the issuer or the Contract, is a New York corporation qualified to sell life insurance and annuity contracts in New York. It was qualified to do business on June 7, 1971. Great-West is a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company (“GWL&A”), a Colorado stock life insurance company.

GWL&A isa wholly-owned subsidiary of GWL&A Financial, Inc., a Delawareholding company. GWL&A Financial, Inc. is a wholly-owned subsidiary of Great-West LifecoU.S.LLC, a holding company,which in turnis a wholly-owned subsidiary of Great-West Financial (Nova Scotia) Co., also a holding company. Great-West Financial(Nova Scotia) Co. is a wholly-owned subsidiary of Great-West Lifeco Inc., a Canadian holding company. Great West Lifeco, Inc. is a subsidiary of Power Financial Corporation, a Canadian holding company with substantial interests in the financial services industry. Power Financial Corporation is a subsidiary of Power Corporation of Canada, a Canadian holding and management company. Through a group of private holding companies, The Desmarais Family Residuary Trust, which was created on October 8, 2013 under the Last Will and Testament of Paul G. Desmarais, has voting control of Power Corporation of Canada.

The assets allocated to the Variable Annuity-1 Series Account (the (“Series Account”) are the exclusive property of Great-West. Registration of the Series Account under the Investment Company Act of 1940 does not involve supervision of the management or investment practices or policies of the Series Account or of Great-West by the Securities and Exchange Commission. Great-West may accumulate in the Series Account proceeds from charges under the Contracts and other amounts in excess of the Series Account assets representing reserves and liabilities under the Contract and other variable annuity contracts issued by Great-West. Great-West may from time to time transfer to its general account any of such excess amounts. Under certain remote circumstances, the assets of one Sub-Account may not be insulated from liability associated with another Sub-Account.

On June3, 2019, GWL&A entered into an indemnity reinsurance agreement (the “Agreement”) with Protective Life Insurance Company (“Protective”) to indemnifyand reinsure theobligations of Great-West under substantially all of its non-participating individual life insurance and annuity business and group life and health business, including this Contract.

Under the Agreement, as of October 5, 2020, Protective will provide administration and customer service for this Contract in accordance with the terms and conditions of the Contract. Great-West will continue its present role as the issuer of your Contract and will remain responsible for the administration and customer service of the Contract. All of your rights and benefits under your Contract and Great-West’s obligations under the Contract remain unchanged.

CALCULATION OF ANNUITY PAYOUTS

Variable Annuity Options

Great-West converts the Accumulation Units for each Investment Segment Sub-Account held by you into Annuity Units at their values determined as of the end of the valuation period which contains the Annuity Commencement Date. The number of Annuity Units paid for each Investment Segment Sub-Account is determined by dividing the amount of the first payment by the Annuity Unit value on the first valuation date preceding the date the first payout is due. The number of Annuity Units used to calculate each payout for an Investment Segment Sub-Account remains fixed during the Annuity Payout Period.

The first payment under a variable annuity payout option will be based on the value of each Investment Segment Sub-Account on the first valuation date preceding the Annuity Commencement Date. We will determine it by applying the appropriate rate to the amount applied under the payout option. Payments after the first will vary depending upon the investment experience of the Investment Segment Sub-Accounts. The subsequent amount paid is determined by multiplying (a) by (b) where (a) is the number of Annuity Units to be paid and (b) is the Annuity Unit value on the first valuation date preceding the date the annuity payout is due. The total amount of each variable annuity payout will be the sum of the variable annuity payments for each Sub-Account.

POSTPONEMENT OF PAYOUTS

With respect to amounts allocated to the Series Account, payout of any amount due upon a total or partial surrender, death or under an annuity option will ordinarily be made within seven days after all documents required for such payout are received by the Service Center. However, the determination, application or payout of any death benefit, Transfer, full surrender,

1

partial withdrawal or annuity payout may be deferred to the extent dependent on Accumulation or Annuity Unit Values, for any period during which the New York Stock Exchange is closed (other than customary weekend and holiday closings) or trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission, for any period during which any emergency exists as a result of which it is not reasonably practicable for Great-West to determine the investment experience of such Accumulation or Annuity Units or for such other periods as the Securities and Exchange Commission may by order permit for the protection of investors.

SERVICES

A. Safekeeping of Series Account Assets

The assets of the Series Account are held by Great-West. The assets of the Series Account are kept physically segregated and held separate and apart from the general account of Great-West. Great-West maintains records of all purchases and redemptions of shares of the underlying Portfolios. Additional protection for the assets of the Series Account is afforded by a financial institution bond that includes fidelity coverage issued to Great-West Lifeco Inc. and subsidiary companies in the amount of $50 million (Canadian) per occurrence and $100 million (Canadian) in the aggregate, which covers all officers and employees of Great-West.

B. Independent Registered Public Accounting Firm

Independent Registered Public Accounting Firm

Deloitte & Touche LLP, 1601 Wewatta Street, Suite 400, Denver Colorado 80202, serves as the Series Account’s independent registered public accounting firm.

The financial statements and financial highlights of each of the investment divisions of the Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York included in this Statement of Additional Information have been audited by Deloitte& Touche LLP, an independent registered public accounting firm, as stated in their report appearing in the Registration Statement. Such financial statements are included in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.

Independent Auditors

The statutory-basis financial statements of Great-West Life & Annuity Insurance Company of New York included in this Statement of Additional Information included in the Registration Statement have been audited by Deloitte & Touche LLP, independent auditors, as stated in their report appearing herein, and are included in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.

C. Principal Underwriter

Prior to October 5, 2020, the offering of the Contract was made on a continuous basis by GWFS Equities, Inc. (“GWFS”), an affiliate of Great-West, whose principal business address is 8515 East Orchard Road, Greenwood Village, Colorado 80111. GWFS Equities is registered with theSEC under the Securities Exchange Act of 1934 (“Exchange Act”) as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”).

Effective October 5, 2020, Investment Distributors, Inc. (“IDI”) became principal underwriter. IDI is a subsidiary of Protective Life Corporation (“PLC”), the parent of Protective. IDI is a Tennessee corporation and was extablished in 1993. IDI’s

2

principal business address is 2801 Highway 280 South, Birmingham, Alabama 35223. IDI is registered with the SEC under the Exchange Act as a broker-dealer and is a member firm of FINRA.

GWFS and IDI have received no underwriting commissions in connection with this offering since it has been offered. The Contract generally was issued for Annuitants from birth to age eighty-five (85).

D.  Administrative Services

Certain administrative services are provided by IDI and Protective in processing and administering the Contracts. These services are described in written agreements between respective counterparties.

WITHHOLDING

Annuity payouts and other amounts received under the Contract are subject to income tax withholding unless the recipient elects not to have taxes withheld. The amounts withheld will vary among recipients depending on the tax status of the individual and the type of payouts from which taxes are withheld.

Notwithstanding the recipient's election, withholding may be required with respect to certain payouts to be delivered outside the United States and with respect to certain distributions from certain types of qualified retirement plans, unless the proceeds are transferred directly to another qualified retirement plan. Moreover, special “backup withholding” rules may require Great-West to disregard the recipient's election if the recipient fails to supply Great-West with a taxpayer identification number (“TIN”) (social security number for individuals), or if the Internal Revenue Service notifies Great-West that the TIN provided by the recipient is incorrect.

Foreign Account Tax Compliance Act (“FATCA”)

We may be required to withhold at a rate of 30% under FATCA on certain distributions to foreign financial institutions and non-financial foreign entities holding accounts on behalf of and/or the assets of U.S. persons unless the foreign entities provide us with certain certifications regarding their status under FATCA on the applicable IRS forms. Prospective purchasers with accounts in foreign financial institutions or non-financial foreign entities are advised to consult with a competent tax advisor regarding the application of FATCA to their purchase situation.

FINANCIAL STATEMENTS

The financial statements of Great-West Life & Annuity Insurance Company of New York should be considered only as bearing upon Depositor's ability to meet its obligations under the Contracts, and they should not be considered as bearing on the investment performance of the Series Account. The variable interests of Contract Owners under the Contracts are affected solely by the investment results of the Series Account.

3

Great-West Life & Annuity Insurance Company of New York

(A wholly-owned subsidiary of Great-West Life & Annuity Insurance Company)

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus as of December 31, 2020 and 2019 and Related Statutory Statements of Operations, Changes in Capital and Surplus and Cash Flows for Each of Three Years in the Period Ended December 31, 2020 and Report of Independent Registered Public Accounting Firm

Table of Contents

	Page     Number
Independent Auditors’ Report	1
Statutory Financial Statements at December 31, 2020 and 2019 and for the Years Ended December 31, 2020, 2019 and 2018
Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus	3
Statutory Statements of Operations	5
Statutory Statements of Changes in Capital and Surplus	6
Statutory Statements of Cash Flows	7
Notes to the Statutory Financial Statements	9
Note 1 - Organization and Significant Accounting Policies	9
Note 2 - Changes in Accounting Principles	20
Note 3 - Related Party Transactions	20
Note 4 - Summary of Invested Assets	21
Note 5 - Fair Value Measurements	28
Note 6 - Non-Admitted Assets	31
Note 7 - Premiums Deferred and Uncollected	31
Note 8 - Reinsurance	31
Note 9 - Aggregate Reserves	36
Note 10 - Separate Accounts	39
Note 11 - Capital and Surplus, Dividend Restrictions, and Other Matters	40
Note 12 - Federal Income Taxes	41
Note 13 - Participating Insurance	47
Note 14 - Concentrations	47
Note 15 - Contingencies	47
Note 16 - Subsequent Events	47
Supplemental Schedules	48

  Deloitte & Touche LLP 1601 Wewatta Street Suite 400 Denver, CO 80202-3942 USA   Tel:     1 303 292 5400 Fax:    1 303 312 4000 www.deloitte.com

INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Stockholder of

Great-West Life & Annuity Insurance Company of New York

New York, New York

We have audited the accompanying statutory-basis financial statements of Great-West Life & Annuity Insurance Company of New York (the “Company”) (a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company), which comprise the statutory statements of admitted assets, liabilities, and capital and surplus as of December 31, 2020 and 2019, and the related statutory statements of operations, changes in capital and surplus, and cash flows for each of the three years in the period ended December 31, 2020, and the related notes to the statutory-basis financial statements.

Management’s Responsibility for the Statutory-Basis Financial Statements

Management is responsible for the preparation and fair presentation of these statutory-basis financial statements in accordance with the accounting practices prescribed or permitted by the New York State Department of Financial Services. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these statutory-basis financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the statutory-basis financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the statutory-basis financial statements. The procedures selected depend on the auditor’s judgment including the assessment of the risks of material misstatement of the statutory-basis financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the statutory-basis financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the statutory-basis financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Basis for Adverse Opinion on Accounting Principles Generally Accepted in the United States of America

As described in Note 1 to the statutory-basis financial statements, the statutory-basis financial statements are prepared by the Company using the accounting practices prescribed or permitted by the New York State Department of Financial Services, which is a basis of accounting other than accounting principles generally accepted in the United States of America, to meet the requirements of the New York State Department of Financial Services.

The effects on the statutory-basis financial statements of the variances between the statutory-basis of accounting described in Note 1 to the statutory-basis financial statements and accounting

principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material.

Adverse Opinion on Accounting Principles Generally Accepted in the United States of America

In our opinion, because of the significance of the matter described in the Basis for Adverse Opinion on Accounting Principles Generally Accepted in the United States of America paragraph, the statutory-basis financial statements referred to above do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of Great-West Life & Annuity Insurance Company of New York as of December 31, 2020 and 2019, or the results of its operations or its cash flows for each of the three years in the period ended December 31, 2020.

Opinion on Statutory Basis of Accounting

In our opinion, the statutory-basis financial statements referred to above present fairly, in all material respects, the admitted assets, liabilities, and capital and surplus of Great-West Life & Annuity Insurance Company of New York as of December 31, 2020 and 2019, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2020, in accordance with accounting practices prescribed or permitted by the New York State Department of Financial Services, as described in Note 1 to the statutory-basis financial statements.

Emphasis of Matter

The Company engages in various related-party transaction with affiliates under common control as discussed in Note 1 to the statutory financial statements. The accompanying statutory financial statements are not necessarily indicative of the conditions that would have existed or the results of operations that would prevail if the Company had been operated as an unaffiliated company. Our opinion is not modified with respect to this matter.

Report on Supplemental Schedules

Our 2020 audit was conducted for the purpose of forming an opinion on the 2020 statutory-basis financial statements as a whole. The supplemental schedule of investment risk interrogatories, the supplemental summary investment schedule, the supplemental schedule of selected financial data, and the supplemental schedule regarding reinsurance contracts with risk-limiting features as of and for the year ended December 31, 2020 are presented for purposes of additional analysis and are not a required part of the 2020 statutory-basis financial statements. These schedules are the responsibility of the Company’s management and were derived from and relate directly to the underlying accounting and other records used to prepare the statutory-basis financial statements. Such schedules have been subjected to the auditing procedures applied in our audit of the 2020 statutory-basis financial statements and certain additional procedures, including comparing and reconciling such schedules directly to the underlying accounting and other records used to prepare the statutory-basis financial statements or to the statutory-basis financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, such schedules are fairly stated in all material respects in relation to the 2020 statutory-basis financial statements as a whole.

/s/ DELOITTE & TOUCHE LLP

Denver, Colorado

April 1, 2021

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus

December 31, 2020 and 2019

(In Thousands, Except Share Amounts)

	December 31,
	2020		2019
Admitted assets:
Cash and invested assets:
Bonds	$	1,868,877	$	842,567
Preferred stock		842		—
Mortgage loans (net of allowances of $20 and $20)		238,564		39,456
Contract loans		16,034		19,347
Cash, cash equivalents and short-term investments		516,224		29,568
Securities lending collateral assets		3,794		2,070
Other invested assets		19,670		2,237
Total cash and invested assets		2,664,005		935,245
Investment income due and accrued		14,215		6,728
Premiums deferred and uncollected		384		390
Funds held or deposited with reinsured companies		256,739		—
Current federal income taxes recoverable from affiliate		473		—
Deferred income taxes		3,691		1,087
Due from affiliates		12		2,048
Other assets		4,341		8,298
Assets from separate accounts		674,708		680,648
Total admitted assets	$	3,618,568	$	1,634,444

See notes to statutory financial statements. Continued

3

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus

December 31, 2020 and 2019

(In Thousands, Except Share Amounts)

	December 31,
	2020			2019
Liabilities, capital and surplus:
Liabilities:
Aggregate reserves for life policies and contracts	$	2,163,678		$	815,878
Life and accident and health policy and contract claims		1,360			356
Liability for deposit-type contracts		447,107			1,246
Provision for policyholders’ dividends		1,800			2,300
Asset valuation reserve		8,238			5,239
Interest maintenance reserve		94,771			3,346
Due to parent and affiliates		1,743			4,790
Payable for securities lending collateral		3,794			2,070
Current federal income taxes payable to affiliate		—			13
Other liabilities		32,192			4,862
Liabilities from separate accounts		674,554			680,509
Total liabilities		3,429,237			1,520,609
Contingencies (See Note 15)
Capital and surplus:
Common stock, $1,000 par value; 10,000 shares authorized; 2,500 shares issued and outstanding		2,500			2,500
Gross paid in and contributed surplus		253,014			32,450
Unassigned funds		(66,183	)		78,885
Total capital and surplus		189,331			113,835
Total liabilities, capital and surplus	$	3,618,568		$	1,634,444

See notes to statutory financial statements. Concluded

4

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Operations

Years Ended December 31, 2020, 2019 and 2018

(In Thousands)

	Year Ended December 31,
	2020			2019			2018
Income:
Premium income and annuity considerations	$	1,653,527		$	(395,942	)	$	267,967
Net investment income		31,020			39,787			50,307
Amortization of interest maintenance reserve		5,230			778			1,236
Commission and expense allowances on reinsurance ceded		6,315			5,750			101
Fee income from separate accounts		1,693			2,713			4,017
Other income		5,459			10,439			10,965
Total income		1,703,244			(336,475	)		334,593
Expenses:
Death benefits		7,967			6,745			10,778
Annuity benefits		1,597			4,815			10,660
Surrender benefits		239,470			278,998			222,163
Increase (decrease) in aggregate reserves for life and accident and health policies and contracts		1,347,799			(577,236	)		72,545
Other benefits		190			159			221
Total benefits		1,597,023			(286,519	)		316,367
Commissions		191,136			12,711			14,482
Other insurance expenses		14,276			13,273			16,251
Net transfers from separate accounts		(49,023	)		(69,379	)		(10,143	)
Interest maintenance reserve reinsurance activity		92,485			(21,652	)		—
Total benefits and expenses		1,845,897			(351,566	)		336,957
Net (loss) gain from operations before dividends to policyholders, federal income taxes and net realized capital (losses) gains		(142,653	)		15,091			(2,364	)
Dividends to policyholders		1,498			1,938			2,132
Net (loss) gain from operations after dividends to policyholders and before federal income taxes and net realized (losses) capital gains		(144,151	)		13,153			(4,496	)
Federal income tax (benefit) expense		316			(13,275	)		952
Net (loss) gain from operations before net realized capital (losses) gains		(144,467	)		26,428			(5,448	)
Net realized capital (losses) gains, less tax benefits of $0, $159, and $46, and transfers to interest maintenance reserve		—			(596	)		(176	)
Net (loss) income	$	(144,467	)	$	25,832		$	(5,624	)

See notes to statutory financial statements.

5

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Changes in Capital and Surplus

Years Ended December 31, 2020, 2019 and 2018

(In Thousands)

	Year Ended December 31,
	2020			2019			2018
Capital and surplus, beginning of year	$	113,835		$	81,442		$	87,514
Net (loss) income		(144,467	)		25,832			(5,624	)
Change in net unrealized capital losses, net of income taxes		(86	)		—			—
Change in net deferred income taxes		12,812			(12,707	)		2,613
Change in non-admitted assets		(10,372	)		7,891			(2,271	)
Change in asset valuation reserve		(2,999	)		2,699			(782	)
Surplus paid in		220,564			—			—
Change in surplus as a result of reinsurance		29			8,663			—
Changes in capital and surplus as a result of separate accounts		15			15			(8	)
Net change in capital and surplus for the year		75,496			32,393			(6,072	)
Capital and surplus, end of year	$	189,331		$	113,835		$	81,442

See notes to statutory financial statements.

6

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Cash Flows

Years Ended December 31, 2020, 2019 and 2018

(In Thousands)

	Year Ended December 31,
	2020			2019			2018
Operating activities:
Premium income	$	675,322		$	207,985		$	267,526
Investment income received, net of investment expenses paid		31,407			39,793			50,757
Other miscellaneous income received		18,101			22,959			15,083
Benefit and loss related payments		(248,611	)		(289,357	)		(233,651	)
Net transfers from separate accounts		49,035			72,965			8,903
Commissions, other expenses and taxes paid		(204,826	)		(24,982	)		(30,893	)
Dividends paid to policyholders		(1,998	)		(2,239	)		(2,632	)
Federal income taxes (paid) received, net		(1,911	)		8,353			(512	)
Net cash provided by operating activities		316,519			35,477			74,581
Investing activities:
Proceeds from investments sold, matured or repaid:
Bonds		119,142			142,434			83,327
Mortgage loans		1,622			25,136			19,705
Other		—			3			394
Cost of investments acquired:
Bonds		(171,055	)		(252,696	)		(122,177	)
Mortgage loans		(4,000	)		—			(5,000	)
Other		91			(153	)		—
Net change in contract loans		403			197			26
Net cash used in investing activities	$	(53,797	)	$	(85,079	)	$	(23,725	)

See notes to statutory financial statements. Continued

7

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Cash Flows

Years Ended December 31, 2020, 2019 and 2018

(In Thousands)

	Year Ended December 31,
	2020			2019			2018
Financing and miscellaneous activities:
Capital and paid in surplus	$	220,564		$	—		$	—
Deposit-type contract withdrawals, net of deposits		(50	)		(174	)		(334	)
Other		3,420			(204	)		1,215
Net cash provided by (used in) financing and miscellaneous activities		223,934			(378	)		881
Net increase (decrease) in cash, cash equivalents and short-term investments		486,656			(49,980	)		51,737
Cash, cash equivalents and short-term investments:
Beginning of year		29,568			79,548			27,811
End of year	$	516,224		$	29,568		$	79,548

In 2020, non-cash transfers of $1,193 million of assets and liabilities occurred as a part of the MassMutual transaction. In 2019, non-cash transfers of $646 million of assets and liabilities occurred as a part of the Protective transaction. Refer to Note 8 for further information on the MassMutual and Protective transactions.

See notes to statutory financial statements. Concluded

8

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

1. Organization and Significant Accounting Policies

Great-West Life & Annuity Insurance Company of New York (the “Company”) is a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company (“GWL&A”). GWL&A is a direct wholly-owned subsidiary of GWL&A Financial Inc. (“GWL&A Financial”), a holding company. GWL&A Financial is a direct wholly-owned subsidiary of Great-West Lifeco U.S. LLC (“Lifeco U.S.”) and an indirect wholly-owned subsidiary of Great-West Lifeco Inc. (“Lifeco”), a Canadian holding company. The Company is incorporated as a stock life insurance company in the State of New York and is subject to regulation by the New York State Department of Financial Services (the “Department”). The Company is authorized to engage in the sale of life insurance, accident and health insurance and annuity products in the State of New York and Illinois.

Effective December 31, 2020, the Company completed the acquisition, via indemnity reinsurance (“the MassMutual transaction”), of the retirement services business of Massachusetts Mutual Life Insurance Company (“MassMutual”). The Company has now assumed the economics and risks associated with the reinsurance business. Per the transaction agreement, the Company acquired Statutory assets equal to liabilities. The business assumed is primarily group annuities. See Note 8 for further discussion of the MassMutual transaction.

Effective June 1, 2019, the Company completed the sale, via indemnity reinsurance (the “Protective transaction”), of substantially all of its individual life insurance and annuity business to Protective Life and Annuity Insurance Company (“Protective”) who now assumes the economics and risks associated with the reinsured business. Per the transaction agreement, the Company transferred Statutory assets equal to liabilities. The business transferred included bank-owned and corporate-owned life insurance, single premium life insurance, individual annuities as well as closed block life insurance and annuities. The Company will retain a block of participating life insurance policies, which are now administered by Protective. Post-transaction, the Company will focus on the defined contribution retirement and asset management markets.

The statutory financial statements have been prepared from the separate records maintained by the Company and may not necessarily be indicative of the conditions that would have existed or the results of operations if the Company had been operated as an unaffiliated company.

Accounting policies and use of estimates

The Company prepares its statutory financial statements in conformity with accounting practices prescribed or permitted by the Department. The Department requires that insurance companies domiciled in the State of New York prepare their statutory financial statements in accordance with the National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual (“NAIC SAP”), subject to any deviations prescribed or permitted by the State of New York Superintendent of Financial Services.

The Department recognizes only statutory accounting practices prescribed or permitted by the State of New York for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under the New York Insurance Law. The NAIC SAP has been adopted as a component of prescribed or permitted practices by the Department. The Department has adopted certain prescribed accounting practices that differ from those found in NAIC SAP. Specifically, for New York domiciled companies, the amount of ceded reserves are limited to the amount of direct reserves while NAIC SAP does not have this specific requirement.

A reconciliation of the Company’s capital and surplus and statutory net income between NAIC SAP and practices prescribed by the Department, and the resulting tax impacts, are shown below.

9

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

	Statutory Capital and Surplus						Statutory Net (Loss) Income
	December 31,						Year ended December 31,
	2020			2019			2020			2019			2018
New York prescribed basis		$        189,331			$        113,835		$	(144,467	)		$      25,832		$	(5,624	)
State prescribed practices, ceded reserves
Ceded reserves		1,061			1,337			(277	)		(260	)		332
Current income taxes on ceded reserves		(344	)		(377	)		33			(41	)		107
Deferred taxes		(223	)		(281	)		58			(281	)		—
Reduction to non-admit deferred taxes		156			226			(70	)		226			—
NAIC SAP basis	$	189,981		$	114,740		$	(144,723	)	$	25,476		$	(5,185	)

Statutory accounting principles vary in some respects from accounting principles generally accepted in the United States of America (“GAAP”). The more significant of these differences are as follows:

• Bonds, including loan-backed and structured securities (collectively referred to as “bonds”), are carried at statutory adjusted carrying value in accordance with the National Association of Insurance Commissioners (“NAIC”) designation of the security. Carrying value is amortized cost, unless the bond is either (a) designated as a six, in which case it is the lower of amortized cost or fair value or (b) required to be carried at fair value due to the structured securities ratings methodology. Under GAAP, bonds are carried at amortized cost for securities classified as held-to-maturity and fair value for securities classified as available-for-sale and held-for-trading.

• Perpetual preferred stock is recorded at fair value not to exceed the currently effective call price. Under GAAP, perpetual preferred stock is recorded at fair value.

• Short-term investments include all investments whose remaining maturities, at the time of acquisition, are three months to one year. Under GAAP, short-term investments include securities purchased with investment intent and with remaining maturities, at the time of acquisition, of one year or less.

• As prescribed by the NAIC, the asset valuation reserve (“AVR”) is computed in accordance with a prescribed formula and represents a provision for possible non-interest related fluctuations in the value of bonds, equity securities, mortgage loans and other invested assets. Changes to the AVR are charged or credited directly to unassigned surplus. This type of reserve is not necessary or required under GAAP.

• As prescribed by the NAIC, the interest maintenance reserve (“IMR”) consists of net accumulated unamortized realized capital gains and losses, net of income taxes, on sales or interest related impairments of bonds and mortgage loans attributable to changes in the general level of interest rates. Such gains or losses are initially deferred and then amortized into income over the remaining period to maturity, based on groupings of individual securities sold in five-year bands. An IMR asset is designated as a non-admitted asset and is recorded as a reduction to capital and surplus. Under GAAP, realized gains and losses are recognized in income in the period in which a security is sold.

• As prescribed by the NAIC, an other-than-temporary impairment (“OTTI”) is recorded (a) if it is probable that the Company will be unable to collect all amounts due according to the contractual terms in effect at the date of acquisition, (b) if the Company has the intent to sell the investment or (c) for non-interest related declines in value and where the Company does not have the intent and ability at the reporting date, to hold the bond until its recovery. Under GAAP, if either (a) management has the intent to sell a bond investment or (b) it is more likely than not the Company will be required to sell a bond investment

10

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

before its anticipated recovery, a charge is recorded in net realized investment losses equal to the difference between the fair value and cost or amortized cost basis of the security. If management does not intend to sell the security and it is not more likely than not the Company will be required to sell the bond investment before recovery of its amortized cost basis, but the present value of the cash flows expected to be collected (discounted at the effective interest rate implicit in the bond investment prior to impairment) is less than the amortized cost basis of the bond investment (referred to as the credit loss portion), an OTTI is considered to have occurred.

Under GAAP, total OTTI is bifurcated into two components: the amount related to the credit loss, which is recognized in current period earnings through realized capital losses; and the amount attributed to other factors (referred to as the non-credit portion), which is recognized as a separate component in accumulated other comprehensive income (loss). As prescribed by the NAIC, non-interest related OTTI is only bifurcated on loan-backed and structured securities. Factors related to interest and other components do not have a financial statement impact and are disclosed in “Unrealized losses and OTTI” in the notes to the statutory financial statements.

• Derivatives that qualify for hedge accounting are carried at the same valuation method as the underlying hedged asset, while derivatives that do not qualify for hedge accounting are carried at fair value. Under GAAP, all derivatives, regardless of hedge accounting treatment, are recorded on the balance sheet in other assets or other liabilities at fair value. As prescribed by the NAIC, for those derivatives which qualify for hedge accounting, the change in the carrying value or cash flow of the derivative is recorded consistently with how the changes in the carrying value or cash flow of the hedged asset, liability, firm commitment or forecasted transaction are recorded. Under GAAP, if the derivative is designated as a cash flow hedge, the effective portions of the changes in the fair value of the derivative are recorded in accumulated other comprehensive income and are recognized in the income statements when the hedged item affects earnings. Changes in fair value resulting from foreign currency translations are recorded in either AOCI or net investment income, consistent with where they are recorded on the underlying hedged asset or liability. Changes in the fair value, including changes resulting from foreign currency translations, of derivatives not eligible for hedge accounting or where hedge accounting is not elected and the over effective portion of cash flow hedges are recognized in investment gains (losses) as a component of net income in the period of the change. Realized foreign currency transactional gains and losses on derivatives subject to hedge accounting are recorded in net investment income, whereas those on derivatives not subject to hedge accounting are recorded in investment gains (losses). As prescribed by the NAIC, upon termination of a derivative that qualifies for hedge accounting, the gain or loss is recognized in income in a manner that is consistent with the hedged item. Alternatively, if the item being hedged is subject to IMR, the gain or loss on the hedging derivative is realized and is subject to IMR upon termination. Under GAAP, gains or losses on terminated contracts that are effective hedges are recorded in earnings in net investment income or other comprehensive income. The gains or losses on terminated contracts where hedge accounting is not elected, or contracts that are not eligible for hedge accounting, are recorded in investment gains (losses).

• Acquisition costs, such as commissions and other costs incurred in connection with acquiring new business, are charged to operations as incurred, rather than deferred and amortized over the lives of the related contracts as under GAAP.

• Deferred income taxes are recorded using the asset and liability method in which deferred tax assets and liabilities are recorded for expected future tax consequences of events that have been recognized in either the Company’s statutory financial statements or tax returns. Deferred income tax assets are subject to limitations prescribed by statutory accounting principles. The change in deferred income taxes is treated as a component of the change in unassigned funds, whereas under GAAP deferred taxes are included in the determination of net income.

• Certain assets, including various receivables, furniture and equipment and prepaid assets, are designated as non-admitted assets and are recorded as a reduction to capital and surplus, whereas they are recorded as assets under GAAP.

11

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

• Aggregate reserves for life policies and contracts are based on statutory mortality and interest requirements and without consideration of withdrawals, which differ from reserves established under GAAP that are based on assumptions using Company experience for mortality, interest, and withdrawals.

• The policyholder’s share of net income on participating policies that has not been distributed to participating policyholders is included in capital and surplus in the statutory financial statements. For GAAP, these amounts are reported as a liability with a charge to net income.

• Changes in separate account values from cash transactions are recorded as premium income and benefit expenses whereas they do not impact the statement of operations under GAAP and are presented only as increases or decreases to account balances.

• Benefit payments and the related decrease in policy reserves are recorded as expenses for all contracts subjecting the Company to any mortality risk. Under GAAP, such benefit payments for life and annuity contracts without significant mortality risks are recorded as direct reductions to the policy reserve liability.

• Premium receipts and the related increase in policy reserves are recorded as revenues and expenses, respectively, for all contracts subjecting the Company to any mortality risk. Under GAAP, such premium receipts for life and annuity contracts without significant mortality risks are recorded as direct credits to the policy reserve liability.

• Comprehensive income and its components are not presented in the statutory financial statements.

• The Statutory Statement of Cash Flows is presented based on a prescribed format for statutory reporting. For purposes of presenting statutory cash flows, cash includes short-term investments. Under GAAP, the statement of cash flows is typically presented based on the indirect method and cash excludes short-term investments.

• For statutory accounting purposes, policy and contract liabilities ceded to reinsurers are reported as reductions of the related reserves. Losses generated in certain reinsurance transaction are recognized immediately in income, with gains reported as a separate component of surplus and amortized over the remaining life of the business. As prescribed by the Department, ceded reserves are limited to the amount of direct reserves. Under GAAP, ceded future policy benefits and contract owner liabilities are reported as reinsurance recoverables. Only those reinsurance recoverable balances deemed probable of recovery are reflected as assets on the balance sheet and are stated net of allowance for uncollectible reinsurance, which are charged to earnings. Cost of reinsurance (i.e. the net cash flows which include reinsurance premiums, ceding commissions, etc.) are deferred and amortized over the remaining life of the business.

• For statutory accounting, business combinations must either create a parent-subsidiary relationship (statutory purchase) or there must be an exchange of equity with one surviving entity (statutory merger). Under GAAP, an integrated set of activities and assets that are capable of being conducted and managed for the purpose of providing economic benefits to its investors can meet the definition of a business. As such, under GAAP, certain reinsurance agreements could be accounted for as a business acquisition.

The preparation of financial statements in conformity with statutory accounting principles requires the Company’s management to make a variety of estimates and assumptions. These estimates and assumptions affect, among other things, the reported amounts of admitted assets and liabilities, the disclosure of contingent liabilities and the reported amounts of revenues and expenses. Significant estimates are required to account for items and matters such as, but not limited to, the valuation of investments in the absence of quoted market values, impairment of investments, valuation of policy benefit liabilities and the valuation of deferred tax assets. Actual results could differ from those estimates.

12

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Impact of COVID-19 on significant judgments, estimates and assumptions

Beginning in January 2020, the outbreak of a virus known as COVID-19 and ensuing global pandemic have resulted in travel and border restrictions, quarantines, supply chain disruptions, lower consumer demand and significant market uncertainty. In the first quarter of 2020, global financial markets experienced material and rapid declines and significant volatility; however, following March 31, 2020, the markets have experienced recoveries. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 pandemic continues to be unknown at this time, as is the efficacy of the government and central bank interventions. The results of the Company reflect management’s judgments regarding the impact of prevailing market conditions.

Significant statutory accounting policies

Investments

Investments are reported as follows:

• In accordance with the NAIC SAP, the adjusted carrying value amounts of certain assets are gross of non-admitted assets.

• Bonds are carried at statutory adjusted carrying value in accordance with the NAIC designation of the security. Carrying value is amortized cost, unless the bond is either (a) designated as a six, in which case it is the lower of amortized cost or fair value or (b) required to be carried at fair value due to the structured securities ratings methodology. The Company recognizes the acquisition of its public bonds on a trade date basis and its private placement investments on a funding date basis. Bonds containing call provisions, except make-whole call provisions, are amortized to the call or maturity value/date which produces the lowest asset value. Make-whole call provisions, which allow the bond to be called at any time, are not considered in determining the timeframe for amortizing the premium or discount unless the Company has information indicating the issuer is expected to invoke the make-whole call provision.

Premiums and discounts are recognized as a component of net investment income using the effective interest method. Realized gains and losses not subject to IMR are included in net realized capital gains (losses).

The recognition of income on certain investments (e.g. loan-backed securities, including mortgage-backed and asset-backed securities) is dependent upon market conditions, which may result in prepayments and changes in amounts to be earned. Prepayments on all mortgage-backed and asset-backed securities are monitored monthly, and amortization of the premium and/or the accretion of the discount associated with the purchase of such securities are adjusted by such prepayments. Prepayment assumptions are based on the average of recent historical prepayments and are obtained from broker/dealer survey values or internal estimates. These assumptions are consistent with the current interest rate and economic environment. Significant changes in estimated cash flows from the original purchase assumptions are accounted for using the retrospective method.

• Perpetual preferred stocks are carried at fair value not to exceed the currently effective call price.

• Mortgage loans consist primarily of domestic commercial collateralized loans and are carried at their unpaid principal balances adjusted for any unamortized premiums or discounts and allowances for credit losses. Interest income is accrued on the unpaid principal balance for all loans, except for loans on non-accrual status. Premiums and discounts are amortized to net investment income using the effective interest method. Prepayment penalty and origination fees are recognized in net investment income upon receipt.

13

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The Company actively manages its mortgage loan portfolio by completing ongoing comprehensive analysis of factors such as debt service coverage ratios, loan-to-value ratios, payment status, default or legal status, annual collateral property evaluations and general market conditions. On a quarterly basis, the Company reviews the above primary credit quality indicators in its internal risk assessment of loan impairment and credit loss. Management’s risk assessment process is subjective and includes the categorization of all loans, based on the above mentioned credit quality indicators, into one of the following categories:

• Performing - generally indicates the loan has standard market risk and is within its original underwriting guidelines.

• Non-performing - generally indicates there is a potential for loss due to the deterioration of financial/monetary default indicators or potential foreclosure. Due to the potential for loss, these loans are evaluated for impairment.

The adequacy of the Company’s allowance for credit loss is reviewed quarterly. The determination of the calculation and the adequacy of the mortgage allowance for credit loss and mortgage impairments involve judgments that incorporate qualitative and quantitative Company and industry mortgage performance data. Management’s periodic evaluation and assessment of the adequacy of the mortgage allowance for credit loss and the need for mortgage impairments is based on known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the fair value of the underlying collateral, composition of the loan portfolio, current economic conditions, loss experience and other relevant factors. Loans included in the non-performing category and other loans with certain substandard credit quality indicators are individually reviewed to determine if a specific impairment is required. Risk is mitigated primarily through first position collateralization, guarantees, loan covenants and borrower reporting requirements. Since the Company does not originate or hold uncollateralized mortgages, loans are generally not deemed fully uncollectible. Generally, unrecoverable amounts are written off during the final stage of the foreclosure process.

Loan balances are considered past due when payment has not been received based on contractually agreed upon terms. The accrual of interest is discontinued when concerns exist regarding the realization of loan principal or interest. The Company resumes interest accrual on loans when a loan returns to current status or under new terms when loans are restructured or modified.

On a quarterly basis, any loans with terms that were modified during that period are reviewed to determine if the loan modifications constitute a troubled debt restructuring (“TDR”). In evaluating whether a loan modification constitutes a TDR, it must be determined that the modification is a significant concession and the debtor is experiencing financial difficulties.

Additionally, the Company considers the temporary relief granted by the Statutory Accounting Principles Working Group (“SAPWG”) in response to the Coronavirus, Aid, Relief, and Economic Security Act (the “CARES Act”). The relief gives temporary statutory exception for impairment assessment on bank loans, mortgage loans and investment products with underlying mortgage loans due to situations as a result of COVID-19 including the forbearance or modification of mortgage loan payments. SAPWG also granted practical expedients in determining whether a modification is a concession (insignificant) or if it is a TDR. The provisions of these guidance are applicable through the earlier of January 1, 2022, or 60 days after the date on which the national emergency concerning COVID–19 terminates.

• Contract loans are carried at their unpaid balance. Contract loans are fully collateralized by the cash surrender value of the associated insurance policy.

• Short-term investments include all investments whose remaining maturities, at the time of acquisition, are three months to one year. Cash equivalent investments include all investments whose remaining maturities, at the time of acquisition, are three months or less. Both short-term and cash equivalent investments, excluding money market mutual funds, are stated at

14

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

amortized cost, which approximates fair value. Cash equivalent investments also include highly liquid money market funds that are traded in an active market and are carried at fair value.

• The Company participates in a securities lending program in which the Company lends securities that are held as part of its general account investment portfolio to third parties. The Company does not enter into these types of transactions for liquidity purposes, but rather for yield enhancement on its investment portfolio. The borrower can return and the Company can request the loaned securities be returned at any time. The Company maintains ownership of the securities at all times and is entitled to receive from the borrower any payments for interest received on such securities during the loan term. Securities lending transactions are accounted for as secured borrowings. The securities on loan are included within bonds and short-term investments in the accompanying Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. The securities lending agent indemnifies the Company against borrower risk, meaning that the lending agent agrees contractually to replace securities not returned due to a borrower default. The Company generally requires initial cash collateral in an amount greater than or equal to 102% of the fair value of domestic securities loaned and 105% of foreign securities loaned. Such collateral is used to replace the securities loaned in event of default by the borrower. Some cash collateral is reinvested in money market funds and short-term repurchase agreements which are also collateralized by U.S. Government or U.S. Government Agency securities. Reinvested cash collateral is reported in securities lending reinvested collateral assets, with a corresponding liability in payable for securities lending collateral. Collateral that cannot be sold or repledged is excluded from the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus.

• Surplus notes, which are recorded in other invested assets, are carried at statutory carrying value in accordance with the NAIC designation of the security. Carrying value is amortized cost, unless the surplus note is designated a NAIC three to six, in which case it is reported at the lower of amortized cost or fair value.

• The Company’s OTTI accounting policy requires that a decline in the value of a bond below its cost or amortized cost basis be assessed to determine if the decline is other-than-temporary. An OTTI is recorded (a) if it is probable that the Company will be unable to collect all amounts due according to the contractual terms in effect at the date of acquisition, (b) if the Company has the intent to sell the investment or (c) for non-interest related declines in value and where the Company does not have the intent and ability at the reporting date, to hold the bond until its recovery. Management considers a wide range of factors, as described below, regarding the bond issuer and uses its best judgment in evaluating the cause of the decline in its estimated fair value and in assessing the prospects for near-term recovery. Inherent in management’s evaluation of the bond are assumptions and estimates about the operations and ability to generate future cash flows. While all available information is taken into account, it is difficult to predict the ultimate recoverable amount from a distressed or impaired bond.

Considerations used by the Company in the impairment evaluation process include, but are not limited to, the following:

• The extent to which estimated fair value is below cost;

• Whether the decline in fair value is attributable to specific adverse conditions affecting a particular instrument, its issuer, an industry or geographic area;

• The length of time for which the estimated fair value has been below cost;

• Downgrade of a bond investment by a credit rating agency;

• Deterioration of the financial condition of the issuer;

• The payment structure of the bond investment and the likelihood of the issuer being able to make payments in the future; and

• Whether dividends have been reduced or eliminated or scheduled interest payments have not been made.

15

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

For loan-backed and structured securities, if management does not intend to sell the bond and has the intent and ability to hold the bond until recovery of its amortized cost basis, but the present value of the cash flows expected to be collected (discounted at the effective interest rate implicit in the bond prior to impairment) is less than the amortized cost basis of the bond (referred to as the non-interest loss portion), an OTTI is considered to have occurred. In this instance, total OTTI is bifurcated into two components: the amount related to the non-interest loss is recognized in current period earnings through realized capital gains (losses); and the amount attributed to other factors does not have any financial impact and is disclosed only in the notes to the statutory financial statements. The calculation of expected cash flows utilized during the impairment evaluation process are determined using judgment and the best information available to the Company including default rates, credit ratings, collateral characteristics and current levels of subordination.

For bonds not backed by other loans or assets, if management does not intend to sell the bond and has the intent and ability to hold but does not expect to recover the entire cost basis, an OTTI is considered to have occurred. A charge is recorded in net realized capital gains (losses) equal to the difference between the fair value and cost or amortized cost basis of the bond. After the recognition of an OTTI, the bond is accounted for as if it had been purchased on the measurement date of the OTTI, with an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in net income. The difference between the new amortized cost basis and the expected future cash flows is accreted into net investment income. The Company continues to estimate the present value of cash flows expected to be collected over the life of the bond.

Fair value

Certain assets and liabilities are recorded at fair value on the Company’s Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company categorizes its assets and liabilities measured at fair value into a three-level hierarchy, based on the priority of the inputs to the respective valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Company’s assets and liabilities have been categorized based upon the following fair value hierarchy:

• Level 1 inputs which are utilized for general and separate account assets and liabilities, utilize observable, quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Financial assets utilizing Level 1 inputs include certain mutual funds.

• Level 2 inputs utilize other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs, which are utilized for general and separate account assets and liabilities, include quoted prices for similar assets and liabilities in active markets and inputs, other than quoted prices, that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. The fair values for some Level 2 securities are obtained from pricing services. The inputs used by the pricing services are reviewed at least quarterly or when the pricing vendor issues updates to its pricing methodology. For general and separate account assets and liabilities, inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, evaluated bids, offers and reference data including market research publications. Additional inputs utilized for assets and liabilities classified as Level 2 are:

16

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

¡ Derivative instruments - trading activity, swap curves, credit spreads, currency volatility, net present value of cash flows and news sources.

¡ Separate account assets and liabilities - various index data and news sources, amortized cost (which approximates fair value), trading activity, swap curves, credit spreads, recovery rates, restructuring, net present value of cash flows and quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

• Level 3 inputs are unobservable and include situations where there is little, if any, market activity for the asset or liability. In general, the prices of Level 3 securities are obtained from single broker quotes and internal pricing models. If the broker’s inputs are largely unobservable, the valuation is classified as a Level 3.

The fair value of certain investments in the separate accounts are estimated using net asset value per share as a practical expedient, and are excluded from the fair value hierarchy levels in Note 5. These net asset values are based on the fair value of the underlying investments, less liabilities.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability

Overall, transfers between levels are attributable to a change in the observability of inputs. Assets and liabilities are transferred to a lower level in the hierarchy when a significant input cannot be corroborated with market observable data. This may occur when market activity decreases and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets and liabilities are transferred to a higher level in the hierarchy when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity including recent trades, a specific event, or one or more significant input(s) becoming observable.

In some instances, securities are priced using external broker quotes. In most cases, when broker quotes are used as pricing inputs, more than one broker quote is obtained. External broker quotes are reviewed internally by comparing the quotes to similar securities in the public market and/or to vendor pricing, if available. Additionally, external broker quotes are compared to market reported trade activity to ascertain whether the price is reasonable, reflective of the current market prices, and takes into account the characteristics of the Company’s securities.

Derivative financial instruments

The Company enters into derivative transactions which include the use of cross-currency swaps and foreign currency forwards. The Company uses these derivative instruments to manage foreign currency exchange rate risk associated with its invested assets. Derivative instruments are not used for speculative reasons. The Company’s derivatives are cleared and settled through a bilateral contracts between the Company and a counterparty.

Derivatives are reported as other invested assets or other liabilities. Although some derivatives are executed under a master netting arrangement, the Company does not offset in the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus the carrying value of those derivative instruments and the related cash collateral or net derivative receivables and payables executed with the same counterparty under the same master netting arrangement. Derivatives that qualify for hedge accounting

17

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

treatment are valued using the valuation method (either amortized cost or fair value) consistent with the underlying hedged asset or liability. At inception of a derivative transaction, the hedge relationship and risk management objective is documented and the designation of the derivative is determined based on specific criteria of the transaction. Derivatives where hedge accounting is either not elected, or that are not eligible for hedge accounting, are stated at fair value with changes in fair value recognized in unassigned surplus in the period of change. Investment gains and losses generally result from the termination of derivative contracts prior to expiration and are generally recognized in net income and may be subject to IMR.

The Company uses derivative financial instruments for risk management purposes associated with certain invested assets and policy liabilities. Derivatives are used to convert floating rate assets to fixed rate assets.

The Company controls the credit risk of its derivative contracts through credit approvals, limits, monitoring procedures and in many cases, requiring collateral. The Company’s exposure is limited to the portion of the fair value of derivative instruments that exceeds the value of the collateral held and not to the notional or contractual amounts of the derivatives.

Derivatives in a net asset position may have cash or securities pledged as collateral to the Company in accordance with the collateral support agreements with the counterparty. This collateral is held in a custodial account for the benefit of the Company. Unrestricted cash collateral is included in other assets and the obligation to return it is included in other liabilities. The cash collateral is reinvested in a government money market fund. Securities pledged to the Company generally consist of U.S. government or U.S. government agency securities and are not recorded on the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. Cash collateral pledged by the Company is included in other assets.

Funds held or deposited with reinsured companies

Funds held by reinsurers are receivables from ceding entities. Interest earned on the funds withheld receivable are included as a component of aggregate write-ins for miscellaneous income.

Reinsurance

Reinsurance premiums, commissions, expense reimbursements, and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Reserves are based on the terms of the reinsurance contracts and are consistent with the risks assumed. Life contract premiums and benefits ceded to other companies have been reported as a reduction of the premium revenue and benefit expense. Life contract premiums and benefits assumed from other companies have been reported as an increase in premium revenue and benefit expense. Invested assets and reserves ceded or assumed on deposit type contracts are accounted for using deposit accounting. The Company establishes a receivable for amounts due from reinsurers for claims paid and other amounts recoverable under the terms of the reinsurance contract.

Net investment income

Interest income from bonds is recognized when earned. Interest income on contract loans is recognized in net investment income at the contract interest rate when earned. All investment income due and accrued with amounts that are deemed uncollectible or that are over 90 days past due, including mortgage loans in default (“in process of foreclosure”), is not included in investment income. Amounts over 90 days past due are non-admitted assets and are recorded as a reduction to unassigned surplus.

18

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Net realized capital gains (losses)

Realized capital gains and losses are reported as a component of net income and are determined on a specific identification basis. Interest-related gains and losses are primarily subject to IMR, while non-interest related gains and losses are primarily subject to AVR.

Policy reserves

Life insurance and annuity policy reserves with life contingencies are computed on the basis of statutory mortality and interest requirements and without consideration for withdrawals. Annuity contract reserves without life contingencies are computed on the basis of statutory interest requirements.

Policy reserves for life insurance are valued in accordance with the provision of applicable statutory regulations. Life insurance reserves are determined principally using the Commissioner’s Reserve Valuation Method, using the statutory mortality and interest requirements, without consideration for withdrawals. Some policies contain a surrender value in excess of the reserve as legally computed. This excess is calculated and recorded on a policy-by-policy basis.

Premium stabilization reserves are calculated for certain policies to reflect the Company’s estimate of experience refunds and interest accumulations on these policies. The reserves are invested by the Company. The income earned on these investments is accumulated in this reserve and is used to mitigate future premium rate increases for such policies.

The cost of reinsurance related to long-duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies.

Policy and contract claims include provisions for reported life and health claims in process of settlement, valued in accordance with the terms of the related policies and contracts, as well as provisions for claims incurred but not reported based primarily on prior experience of the Company. As such, amounts are estimates, and the ultimate liability may differ from the amount recorded. Any changes in estimates will be reflected in the results of operations when additional information becomes known.

The liabilities for health claim reserves are determined using historical run-out rates, expected loss ratios and statistical analysis. The Company provides for significant claim volatility in areas where experience has fluctuated. The liabilities represent estimates of the ultimate net cost of all reported and unreported claims which are unpaid at year-end. Those estimates are subject to considerable variability in claim severity and frequency. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known; such adjustments are included in current operations.

Premium, fee income and expenses

Life insurance premiums are recognized when due. Annuity considerations are recognized as revenue when received. Accident and health premiums are earned ratably over the terms of the related insurance and reinsurance contracts or policies. Life and accident and health insurance premiums received in advance are recorded as a liability and recognized as income when the premiums become earned. Fees from assets under management, assets under administration, shareholder servicing, mortality and expense risk charges, administration and recordkeeping services and investment advisory services are recognized when earned in fee income or other income. Expenses incurred in connection with acquiring new insurance business, including acquisition costs such as sales commissions, are charged to operations as incurred.

19

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Income taxes

The Company is included in the consolidated federal income tax return of Lifeco U.S. The federal income tax expense reported in the Statutory Statements of Operations represent income taxes provided on income that is currently taxable, excluding tax on net realized capital gains and losses. A net deferred tax asset is included in the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus which is recorded using the asset and liability method in which deferred tax assets and liabilities are recorded for expected future tax consequences of events that have been recognized in either the Company’s statutory financial statements or tax returns. Deferred income tax assets are subject to limitations prescribed by statutory accounting principles. The change in deferred income taxes is treated as a component of the change in unassigned funds.

2. Changes in Accounting Principles

In 2009, the NAIC introduced Principle-Based Reserving (“PBR”) as a new method for calculating life insurance policy reserves. In cases where the PBR reserve is higher, it will replace the historic formulaic measure with one that more accurately reflects the risks of highly complex products. The Department adopted PBR in 2020 and the Company adopted it in 2020. The adoption of PBR does not have a material effect on the Company’s financial statements.

In 2020, SAPWG adopted a revised SSAP 32R, Preferred Stock, and a corresponding Issue Paper No. 164, Preferred Stock. The revised SSAP improves the definition of preferred stock, revises the measurement guidance based on the type and terms of preferred stock held, and clarifies the impairment and dividend recognition guidance. The standard was adopted with an effective date of January 1, 2021 with early adoption permitted. The Company early adopted this revision and the adoption of this standard did not have a material effect on the Company’s financial statements.

3. Related Party Transactions

In the normal course of business, the Company enters into agreements with related parties whereby it provides and/or receives recordkeeping services, investment advisory services, distribution and administrative services, and marketing services. The following table presents revenue earned, expenses incurred and expense reimbursement from related parties for services provided and/or received pursuant to these service agreements. These amounts, in accordance with the terms of the contracts, are based upon estimated costs incurred or resources expended as determined by number of policies, number of participants, certificates in-force, administered assets or other similar drivers.

		Year Ended December 31,									Financial   statement line
Description	Related party	2020			2019			2018
Provides marketing, distribution and administrative services to certain underlying funds and/or mutual funds.	GWFS Equities, Inc.(1)	$	330		$	8,381		$	10,002		Other income
Provides recordkeeping services.	GWL&A		1,460			2,328			2,551		Other income
Receives recordkeeping services.	Empower Retirement, LLC (“Empower”)(1)		(7,870	)		(12,914	)		(11,062	)	Other income
Receives investment advisory services.	GWL&A		(813	)		(839	)		(718	)	Net investment income
Received corporate support services.	GWL&A		11,813			—			—		Other insurance expenses

⁽¹⁾ A wholly-owned subsidiary of GWL&A.

Due to/from parent and affiliates represents non-interest bearing amounts which are due upon demand. Due to/from parent and affiliates include amounts receivable from or payable to Lifeco U.S. and subsidiaries of Lifeco U.S.

20

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following table summarizes amounts due from parent and affiliates:

					December 31,
Related party	Indebtedness		Due date		2020		2019
GWFS Equities, Inc.(1)		On account		On demand	$	7	$	2,014
Other related party receivables		On account		On demand		5		34
Total					$	12	$	2,048

⁽¹⁾ A wholly-owned subsidiary of GWL&A.

The following table summarizes amounts due to parent and affiliates:

					December 31,
Related party	Indebtedness		Due date		2020		2019
Empower(1)		On account		On demand	$	1,568	$	3,320
GWL&A		On account		On demand		175		1,470
Total					$	1,743	$	4,790

⁽¹⁾ A wholly-owned subsidiary of GWL&A.

The company had $473 of current federal income taxes receivable and $13 of current federal income taxes payable at December 31, 2020 and 2019, respectively. These amounts were due from or due to Lifeco U.S. relating to its consolidated tax return.

The Company and GWL&A have an agreement whereby GWL&A has committed to provide financial support related to the maintenance of adequate regulatory surplus and liquidity.

4. Summary of Invested Assets

Investments in bonds consist of the following:

	December 31, 2020
Bonds:	Book/adjusted     carrying value		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. government	$	13,958	$	1,911	$	—	$	15,869
All other governments		3,205		—		—		3,205
U.S. states, territories and possessions		8,873		864		—		9,737
Political subdivisions of states and territories		9,913		363		—		10,276
Industrial and miscellaneous		1,563,901		51,720		545		1,615,076
Loan-backed and structured securities		269,027		10,827		45		279,809
Total bonds	$	1,868,877	$	65,685	$	590	$	1,933,972

21

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

	December 31, 2019
Bonds:	Book/adjusted     carrying value		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. government	$	14,229	$	693	$	—	$	14,922
U.S. states, territories and possessions		7,012		911		—		7,923
Political subdivisions of states and territories		7,243		371		—		7,614
Industrial and miscellaneous		608,606		19,836		77		628,365
Loan-backed and structured securities		205,477		3,644		668		208,453
Total bonds	$	842,567	$	25,455	$	745	$	867,277

The book/adjusted carrying value and estimated fair value of bonds and assets receiving bond treatment, based on estimated cash flows, are shown in the table below. Actual maturities will likely differ from these projections because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	December 31, 2020
	Book/adjusted
	carrying value		Fair value
Due in one year or less	$	49,269	$	49,797
Due after one year through five years		519,082		539,957
Due after five years through ten years		765,671		796,314
Due after ten years		288,476		290,744
Loan-backed and structured securities		269,027		279,809
Total bonds	$	1,891,525	$	1,956,621

Loan-backed and structured securities include those issued by U.S. government and U.S. agencies.

The following table summarizes information regarding the sales of securities:

	December 31,
	2020		2019
Consideration from sales	$	80,614	$	648,598
Gross realized gains from sales		2,685		23,399
Gross realized losses from sales		88		3,034

At December 31, 2019, consideration from sales include securities transferred to Protective as part of the Protective transaction (see Note 8 for additional information).

22

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Unrealized losses on bonds

The following tables summarize gross unrealized investment losses including the non-credit-related portion of OTTI losses, by class of investment:

	December 31, 2020
	Less than twelve months				Twelve months or longer				Total
Bonds:	Fair value		Unrealized   loss and OTTI		Fair value		Unrealized   loss and OTTI		Fair value		Unrealized   loss and OTTI
Industrial and miscellaneous	$	30,514	$	534	$	—		$ —	$	30,514$	$	534
Loan-backed and structured securities		12,068		35		206		4		12,274		39
Total bonds	$	42,582		569	$	206	$	4	$	42,788	$	573
Total number of securities in an unrealized loss position				9				1				10
	December 31, 2019
	Less than twelve months				Twelve months or longer				Total
Bonds:	Fair value		Unrealized loss and OTTI		Fair value		Unrealized loss and OTTI		Fair value		Unrealized loss and OTTI
Industrial and miscellaneous	$	27,371	$	71	$	8,000		$6	$	35,371	$	77
Loan-backed and structured securities		46,566		347		19,749		321		66,315		668
Total bonds	$	73,937	$	418	$	27,749	$	327	$	101,686	$	745
Total number of securities in an unrealized loss position				12				8				20

Bonds - Total unrealized losses and OTTI decreased by $172, or 23%, from December 31, 2019 to December 31, 2020. The decrease in unrealized losses was mostly in Loan-backed and structured securities and was primarily driven by higher valuations as a result of lower interest rates at December 31, 2020 compared to December 31, 2019. This was offset by an increase in the less than twelve month category in industrial and miscellaneous bonds purchased in-year and reflects an increase in interest rates during the fourth quarter of 2020 resulting in lower valuations of these bonds.

Total unrealized losses greater than twelve months decreased by $323 from December 31, 2019 to December 31, 2020. Loan-backed and structured securities account for 100%, or $4, of the unrealized losses and OTTI greater than twelve months at December 31, 2020. These securities continue to be rated investment grade. The present value of the cash flows expected to be collected is not less than amortized cost and management does not have the intent to sell these assets; therefore, an OTTI was not recognized in net income.

Loan-backed and structured securities

The Company had a concentration in loan-backed and structured securities of 10% and 22% of total invested assets at December 31, 2020 and 2019, respectively.

Derivative financial instruments

Derivative transactions are generally entered into pursuant to International Swaps and Derivatives Association (“ISDA”) Master Agreements with approved counterparties that provide for a single net payment to be made by one party to the other on a daily basis, periodic payment dates, or at the due date, expiration, or termination of the agreement.

23

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The ISDA Master Agreements contain provisions that would allow the counterparties to require immediate settlement of all derivative instruments in a net liability position if the Company were to default on any debt obligations over a certain threshold. The aggregate fair value, inclusive of accrued income and expense, of derivative instruments with credit-risk-related contingent features that were in a net liability position was $357 as of December 31, 2020. The Company was not required to pledge collateral related to these derivatives as of December 31, 2020. If the credit-risk-related contingent features were triggered on December 31, 2020 the fair value of assets that could be required to settle the derivatives in a net liability position was $357. The Company held no derivatives as of December 31, 2019.

Types of derivative instruments and derivative strategies

Foreign currency contracts

Cross-currency swaps and foreign currency forwards are used to manage the foreign currency exchange rate risk associated with investments denominated in other than U.S. dollars. The Company uses cross-currency swaps to convert interest and principal payments on foreign denominated debt instruments into U.S. dollars. Cross-currency swaps may be designated as cash flow hedges. The Company uses foreign currency forwards to reduce the risk of foreign currency exchange rate changes on proceeds received on sales of foreign denominated debt instruments; however, hedge accounting is not elected.

The following tables summarize derivative financial instruments:

	December 31, 2020
	Notional     amount		Net book/adjusted     carrying value (1)			Fair value (2)
Hedge designation/derivative type:
Derivatives designated as hedges:
Cash flow hedges:
Cross-currency swaps	$	5,678	$	2		$	2
Total derivatives designated as hedges		5,678		2			2
Derivatives not designated as hedges:
Foreign currency forwards		174,353		(111	)		(111	)
Total derivatives not designated as hedges		174,353		(111	)		(111	)
Total cash flow hedges, and derivatives not designated as hedges	$	180,031	$	(109	)	$	(109	)

⁽¹⁾ The book/adjusted carrying value excludes accrued income and expense. The book/adjusted carrying value of all derivatives in an asset position is reported within other invested assets and the book/adjusted carrying value of all derivatives in a liability position is reported within other liabilities in the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus.

⁽²⁾ The fair value includes accrued income and expense.

Net unrealized gains/(losses) on foreign currency forwards not designated as hedging instruments as reported in the Statutory Statements of Changes in Capital and Surplus was $(88) at December 31, 2020.

Securities lending

Securities with a cost or amortized cost of $3,621 and $1,989, and estimated fair values of $3,680 and $2,006 were on loan under the program at December 31, 2020 and 2019, respectively.

24

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following table summarizes the securities on loan by category:

	December 31,				December 31,
	2020				2019
	Book/adjusted         carrying value		Fair value		Book/adjusted         carrying value		Fair value
Industrial and miscellaneous	$	3,621	$	3,680	$	1,989	$	2,006
Total	$	3,621	$	3,680	$	1,989	$	2,006

The Company’s securities lending agreements are open agreements meaning the borrower can return and the Company can recall the loaned securities at any time.

The Company received cash of $3,794 and $2,070 as collateral at December 31, 2020 and 2019, respectively. This cash was reinvested into money market funds and short-term repurchase agreements which are collateralized by U.S. government or U.S. government agency securities and mature in under 30 days.

Restricted assets

At December 31, 2020 and 2019, the Company had investments with a book/adjusted carrying value of $1,737 and $1,790, respectively, on deposit or in trust accounts controlled by various state insurance departments in accordance with statutory requirements. Additionally, the Company held collateral under securities lending agreements in the amount of $3,794 and $2,070 as of December 31, 2020 and 2019, respectively. The total restricted assets amount represents less than 1% of both total assets and total admitted assets at December 31, 2020 and 2019.

Net investment income

The following table summarizes net investment income:

	Year Ended December 31,
	2020		2019
Bonds	$	29,070	$	35,804
Preferred stock		2		—
Mortgage loans		1,743		2,159
Contract loans		680		870
Cash, cash equivalents and short-term investments		210		1,545
Other invested assets		109		175
Miscellaneous income		19		73
Gross investment income		31,833		40,626
Expenses		(813)		(839)
Net investment income	$	31,020	$	39,787

25

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following table summarizes net realized capital (losses) gains on investments net of federal income tax and interest maintenance reserve transfer:

	Year Ended December 31,
	2020		2019		2018
Net realized capital (losses) gains, before federal income tax	$	5,280	$	22,426	$	(495)
Less: Federal income tax (benefit) expense		1,109		4,709		(103)
Net realized capital (losses) gains, before IMR transfer		4,171		17,717		(392)
Net realized capital (losses) gains transferred to IMR, net of federal income tax (benefit) of $1,109, $4,868 and ($57), respectively		4,171		18,313		(216)
Net realized capital (losses) gains, net of federal income (benefit) tax of $0, ($159) and ($46), respectively, and IMR transfer	$	—	$	(596)	$	(176)

Interest maintenance reserve

The following table summarizes activity in the interest maintenance reserve:

	Year ended December 31,
	2020
Reserve as of December 31, 2019	$	3,346
Transferred into IMR, net of taxes		4,171
IMR reinsurance activity		92,485
Balance before amortization		100,002
Amortization released to Statement of Operations		(5,231	)
Reserve as of December 31, 2020	$	94,771

Concentrations

The Company had the following bond concentrations based on total invested assets:

	Concentration by type
	December 31,
	2020	2019
Industrial and miscellaneous	67%	85%
	Concentration by industry
	December 31,
	2020	2019
Financial services	21%	22%

26

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The Company had the following concentrations in cash, cash equivalents and short-term investments based on total invested assets:

	Concentration by type
	December 31,
	2020	2019
Industrial and miscellaneous	16%	3%
	Concentration by industry
	December 31,
	2020	2019
Financial services	17%	3%

Mortgage loans

The recorded investment of the commercial mortgage loan portfolio categorized as performing was $238,584 and $39,476, of which $196,732 and $0 were loan participation agreements as of December 31, 2020 and 2019, respectively. All mortgages were current as of December 31, 2020 and 2019.

The maximum and minimum lending rates for commercial mortgage loans originated during the year ended December 31, 2020 were 3.25% and 3.25%, respectively. During 2020, the maximum percentage of any one loan to the value of security at the time of the loan, exclusive of insured or guaranteed or purchase money mortgages, was 17.34%. There were no loans originated during the year ended December 31, 2019.

The balance in the commercial mortgage provision allowance was $20 as of December 31, 2020 and 2019. There was no provision activity for the years ended December 31, 2020 and 2019.

The following tables present concentrations of the total commercial mortgage portfolio:

	Concentration by type
	December 31,
	2020	2019
Multi-family	40%	50%
Industrial	28%	2%
Other	15%	4%
Retail	13%	44%
Office	4%	—%
	100%	100%

27

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

	Concentration by geographic area
	December 31,
	2020	2019
Pacific	47%	65%
South Atlantic	16%	20%
West South Central	10%	—%
Other	9%	—%
Mountain	8%	—%
East North Central	5%	15%
West North Central	5%	—%
	100%	100%

5. Fair Value Measurements

The following tables summarize the fair value hierarchy for all financial instruments and invested assets:

					Fair Value Measurements at Reporting Date
Type of financial instrument					December 31, 2020
Assets:	Aggregate fair value		Admitted assets and liabilities		(Level 1)		(Level 2)		(Level 3)		Net Asset Value (NAV)		Total (All Levels)
Bonds	$	1,933,972	$	1,868,877	$	—	$	1,933,972	$	—	$	—	$	1,933,972
Preferred stock		842		842		—		842		—		—		842
Mortgage loans		241,037		238,564		—		241,037		—		—		241,037
Cash, cash equivalents and short-term investments		516,224		516,224		493,576		22,648		—		—		516,224
Contract loans		16,036		16,034		—		16,036		—		—		16,036
Other long term invested assets		14,556		14,383		—		14,556		—		—		14,556
Securities lending reinvested collateral assets		3,794		3,794		304		3,490		—		—		3,794
Receivable for securities		5,039		5,039		—		5,039		—		—		5,039
Derivative instruments		248		248		—		248		—		—		248
Separate accounts assets		674,708		674,708		674,517		191		—		—		674,708
Total assets	$	3,406,456	$	3,338,713	$	1,168,397	$	2,238,059	$	—	$	—	$	3,406,456
Liabilities:
Deposit-type contracts	$	357,467	$	447,107	$	—	$	357,467	$	—	$	—	$	357,467
Payable under securities lending agreement		3,794		3,794		304		3,490		—		—		3,794
Derivative instruments		357		357		—		357		—		—		357
Total liabilities	$	361,618	$	451,258	$	304	$	361,314	$	—	$	—	$	361,618

28

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

					Fair Value Measurements at Reporting Date
Type of financial instrument					December 31, 2019
Assets:	Aggregate fair value		Admitted assets and liabilities		(Level 1)		(Level 2)		(Level 3)		Net Asset Value (NAV)		Total (All Levels)
Bonds	$	867,277	$	842,567	$	—	$	867,277	$	—	$	—	$	867,277
Mortgage loans		40,468		39,456		—		40,468		—		—		40,468
Cash, cash equivalents and short-term investments		29,568		29,568		29,568		—		—		—		29,568
Contract loans		19,347		19,347		—		19,347		—		—		19,347
Other long term invested assets		2,052		1,894		—		2,052		—		—		2,052
Securities lending reinvested collateral assets		2,070		2,070		—		2,070		—		—		2,070
Receivable for securities		342		342		—		342		—		—		342
Separate accounts assets		680,648		680,648		680,416		232		—		—		680,648
Total assets	$	1,641,772	$	1,615,892	$	709,984	$	931,788	$	—	$	—	$	1,641,772
Liabilities:
Deposit-type contracts	$	1,246	$	1,246	$	—	$	1,246	$	—	$	—	$	1,246
Payable under securities lending agreement		2,070		2,070		—		2,070		—		—		2,070
Total liabilities	$	3,316	$	3,316	$	—	$	3,316	$	—	$	—	$	3,316

Bonds and preferred stock

The fair values for bonds and preferred stock are generally based upon evaluated prices from independent pricing services. In cases where these prices are not readily available, fair values are estimated by the Company. To determine estimated fair value for these instruments, the Company generally utilizes discounted cash flow models with market observable pricing inputs such as spreads, average life, and credit quality. Fair value estimates are made at a specific point in time, based on available market information and judgments about financial instruments, including estimates of the timing and amounts of expected future cash flows and the credit standing of the issuer or counterparty.

Mortgage loans

Mortgage loan fair value estimates are generally based on discounted cash flows. A discount rate matrix is used where the discount rate valuing a specific mortgage generally corresponds to that mortgage’s remaining term and credit quality. Management believes the discount rate used is comparable to the credit, interest rate, term, servicing costs, and risks of loans similar to the portfolio loans that the Company would make today given its internal pricing strategy.

Cash, cash equivalents, short-term investments, collateral receivable and payable under securities lending agreements and receivable for securities

The amortized cost of cash, cash equivalents, short-term investments, collateral receivable and payable under securities lending agreements and receivable for securities is a reasonable estimate of fair value due to their short-term nature and the high credit quality of the issuers and obligors. Cash equivalent investments also include money market funds that are valued using unadjusted quoted prices in active markets.

Contract loans

The Company believes the fair value of contract loans approximates book value. Contract loans are funds provided to contract holders in return for a claim on the contract. The funds provided are limited to the cash surrender value of the underlying contract. The nature of contract loans is to have a negligible default risk as the loans are fully collateralized by the value of the contract. Contract loans do not have a stated maturity and the balances and accrued interest are repaid either by the contractholder or with

29

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

proceeds from the contract. Due to the collateralized nature of contract loans and unpredictable timing of repayments, the Company believes the fair value of contract loans approximates carrying value.

Other long-term invested assets

The fair values of other long-term invested assets are based on the specific asset type. Other invested assets that are held as bonds, such as surplus notes, are primarily valued the same as bonds.

Derivative instruments

The estimated fair values of OTC derivatives, primarily consisting of foreign currency forwards, are the estimated amount the Company would receive or pay to terminate the agreements at the end of each reporting period, taking into consideration current interest rates and other relevant factors.

Separate account assets

Separate account assets primarily include investments in mutual funds, unregistered funds, most of which are not subject to redemption restrictions, bonds, and short-term securities. Mutual funds and unregistered funds are recorded at net asset value, which approximates fair value, on a daily basis. The bond and short-term investments are valued in the same manner, and using the same pricing sources and inputs as the bond and short-term investments of the Company.

Deposit-type contracts

Fair values for liabilities under deposit-type insurance contracts are estimated using discounted liability calculations, adjusted to approximate the effect of current market interest rates for the assets supporting the liabilities.

Fair Value Hierarchy

The following tables present the Company’s financial assets carried at fair value and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

	Fair Value Measurements at Reporting Date
	December 31, 2020
							Net Asset		Total
Assets:	(Level 1)		(Level 2)		(Level 3)		Value (NAV)		(All Levels)
Preferred stock
Industrial and miscellaneous	$	—	$	842	$	—	$	—	$	842
Derivatives
Foreign currency forwards		—		246		—		—		246
Separate account assets (1)		674,517		191		—		—		674,708
Total assets at fair value	$	674,517	$	1,279	$	—	$	—	$	675,796
(1) Includes only separate account investments which are carried at the fair value of the underlying invested assets or liabilities owned by the separate accounts.
Liabilities:
Derivatives
Foreign currency forwards	$	—	$	357	$	—	$	—	$	357
Total liabilities at fair value	$	—	$	357	$	—	$	—	$	357

30

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

	Fair Value Measurements at Reporting Date
	December 31, 2019
							Net Asset		Total
Assets:	(Level 1)		(Level 2)		(Level 3)		Value (NAV)		(All Levels)
Separate account assets (1)	$	680,416	$	232	$	—	$	—	$	680,648
Total assets at fair value	$	680,416	$	232	$	—	$	—	$	680,648
(1) Includes only separate account investments which are carried at the fair value of the underlying invested assets or liabilities owned by the separate accounts.

6. Non-Admitted Assets

The following table summarizes the Company’s non-admitted assets:

	December 31, 2020						December 31, 2019
Type	Asset		Non-admitted  asset		Admitted     asset		Asset		Non-admitted  asset		Admitted     asset
Contract loans	$	16,037	$	3	$	16,034	$	19,348	$	1	$	19,347
Premiums deferred and uncollected		388		4		384		394		4		390
Deferred income taxes		14,050		10,359		3,691		1,215		128		1,087
Other assets		4,805		464		4,341		8,623		325		8,298

7. Premiums Deferred and Uncollected

The following table summarizes the Company’s ordinary life insurance premiums and annuity considerations deferred and uncollected, both gross and net of loading:

	December 31, 2020				December 31, 2019
Type	Gross		Net of loading		Gross		Net of loading
Ordinary renewal business		449		384		454		390
Total	$	449	$	384	$	454	$	390

8. Reinsurance

In the normal course of its business, the Company seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding risks to other insurance enterprises under excess coverage, quota share, yearly renewable term and coinsurance contracts. Effective June 1, 2019 all risks on non-participating policies within the below retention limits were ceded to Protective. For business that existed before June 1, 2019, the Company retains a maximum of $250 of coverage per individual life. For new term life insurance policies, the Company retained 100% of the first $50 of coverage per individual life and 50% of coverage in excess of $50 up to a maximum retention of $250 per individual life. For new business-owned life insurance policies, the Company retained 100% of the first $250 per individual life.

Ceded reinsurance contracts do not relieve the Company from its obligations to policyholders. The failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. Additionally, Protective, which represents the Company’s most significant reinsurance relationship, is an authorized reinsurer and the Protective transaction is secured by assets held in a trust.

31

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The Company did not have any write-offs for uncollectible reinsurance receivables during the years ended December 31, 2020, 2019 and 2018 for losses incurred, loss adjustment expenses incurred or premiums earned.

The Company does not have any uncollectible reinsurance, commutation of ceded reinsurance, or certified reinsurer downgraded of status subject to revocation.

On December 31, 2020 the Company completed the acquisition, via indemnity reinsurance, of the retirement services business of Massachusetts Mutual Life Insurance Company. The MassMutual transaction impacted the following financial statement lines, excluding the non-admitted deferred tax asset (in millions):

32

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus	December 31,
	2020
Admitted assets:
Cash and invested assets:
Bonds	$	966
Preferred stock		1
Mortgage loans		197
Cash, cash equivalents, and short-term investments		176
Other invested assets		18
Total cash and invested assets		1,358
Investment income due and accrued		8
Funds held or deposited with reinsured companies		257
Other assets		4
Total admitted assets	$	1,627
	December 31,
	2020
Liabilities, capital and surplus:
Liabilities:
Aggregate reserves for life policies and contracts	$	1,217
Liability for deposit-type contracts		446
Interest maintenance reserve		92
Other liabilities		28
Total liabilities		1,783
Capital and surplus:
Unassigned funds		(156	)
Total capital and surplus		(156	)
Total liabilities, capital and surplus	$	1,627
Statutory Statements of Operations	December 31,
	2020
Income:
Premium income and annuity consideration	$	1,336
Total income		1,336
Expenses:
Increase in aggregate reserves for life and accident and health policies and contracts		1,217
Total benefits		1,217
Commissions		183
Interest maintenance reserve reinsurance activity		92
Total benefit and expenses		1,492
Net loss from operations before federal income taxes	$	(156	)

33

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The Company received a capital contribution from parent of $218 million to finance the transaction, as mentioned in Note 11.

Effective June 1, 2019, the Company terminated various related party reinsurance agreements and completed the sale, via indemnity reinsurance, of substantially all of its individual life insurance and annuity business to Protective. The Protective transaction impacted the following financial statement lines in 2019, excluding the non-admitted deferred tax asset (in millions):

This space has been left blank intentionally

34

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus	December 31, 2019
Admitted assets:
Cash and invested assets:
Bonds	$	(558	)
Mortgage loans		(11	)
Contract loans		(2	)
Cash, cash equivalents and short-term investments		(50	)
Other invested assets		(3	)
Total cash and invested assets		(624	)
Investment income due and accrued		(6	)
Premiums deferred and uncollected		(2	)
Reinsurance recoverable		(1	)
Current federal income taxes recoverable		8
Deferred income taxes		(5	)
Total admitted assets	$	(630	)
	December 31,
	2019
Liabilities, capital and surplus:
Liabilities:
Aggregate reserves for life policies and contracts	$	(641	)
Liability for deposit-type contracts		(1	)
Life and accident and health policy and contract claims		(2	)
Interest maintenance reserve		(5	)
Other liabilities		3
Total liabilities		(646	)
Capital and surplus:
Gross paid in and contributed surplus		16
Total capital and surplus		16
Total liabilities, capital and surplus	$	(630	)
Statutory Statements of Operations	December 31,
	2019
Income:
Premium income and annuity consideration	$	(663	)
Commission and expense allowances on reinsurance ceded		3
Total income		(660	)
Expenses:
Decrease in aggregate reserves for life and accident and health policies and contracts		(641	)
Total benefits		(641	)

35

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Net transfers from separate accounts		4
Interest maintenance reserve release		(22	)
Total benefit and expenses		(659	)
Net loss from operations before federal income taxes		(1	)
Federal income tax benefit		(12	)
Net income	$	11

9. Aggregate Reserves

Aggregate reserves are computed in accordance with the Commissioner’s Annuity Reserve Valuation Method (“CARVM”) and the Commissioner’s Reserve Valuation Method (“CRVM”), the standard statutory reserving methodologies.

The significant assumptions used to determine the liability for future life insurance benefits are as follows:

Interest	- Life Insurance	0.5% to 6.00%
	- Annuity Funds	1.75% to 11.25%
	- Disability	3.00% to 6.00%
Mortality	- Life Insurance	Various valuation tables, primarily including 1941, 1958, 1980, 2001, and 2017 Commissioners Standard Ordinary (“CSO”) tables, and American Experience
	- Annuity Funds	Various annuity valuation tables, primarily including the 71 and 83a Individual Annuitant Mortality (“IAM”), Annuity 2000, and the 1971 and 1983 Group Annuity Mortality (“GAM”) Table
Morbidity	- Disability	Various disability tables, primarily including 58 and 80 CSO, 64 CDT and 1970 Intercompany DISA.

The Company waives deduction of deferred fractional premium upon the death of the insured for all issues and returns any portion of the final premium beyond the date of death for 1980 and later issues of Canada Life of New York. When surrender values exceed aggregate reserves, excess cash value reserves are held.

Policies issued at premium corresponding to ages higher than the true ages are valued at the rated-up ages. Policies providing for payment at death during certain periods of an amount less than the full amount of insurance, being policies subject to liens, are valued as if the full amount is payable without any deduction.

For policies issued with, or subsequently subject to, an extra premium payable annually, an extra reserve is held. The extra premium reserve is the unearned gross extra premium payable during the year if the policies are rated for reasons other than medical impairments. For medical impairments, the extra premium reserve is calculated as the excess of the reserve based on rated mortality over that based on standard mortality. All substandard annuities are valued at their true ages.

At December 31, 2020 and 2019, the Company had $671,544 and $735,090, respectively of insurance in force, before reinsurance ceded, for which the gross premiums are less than the net premiums according to the standard of valuation set by the Department.

Tabular interest and tabular cost have been determined from the basic data for the calculation of aggregate reserves. Tabular less actual reserves released and tabular interest on funds not involving life contingencies have been determined by formula.

36

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The withdrawal characteristics of annuity reserves and deposit liabilities are as follows:

	December 31, 2020
	General       Account		Separate Account   Nonguaranteed		Total		Percent of total   gross
Subject to discretionary withdrawal:
With market value adjustment	$	1,217,254	$	—	$	1,217,254		38.5%
At book value less current surrender charges of 5% or more		—		—		—		—%
At fair value		—		625,253		625,253		19.8%
Total with adjustment or at market value		1,217,254		625,253		1,842,507		58.2%
At book value without adjustment (minimal or no charge or adjustment)		419,853		—		419,853		13.3%
Not subject to discretionary withdrawal		901,951		—		901,951		28.5%
Total gross		2,539,058		625,253		3,164,311		100.0%
Reinsurance ceded		43,004		—		43,004
Total, net	$	2,496,054	$	625,253	$	3,121,307
	December 31, 2019
	General Account		Separate Account Nonguaranteed		Total		Percent of total gross
Subject to discretionary withdrawal:
With market value adjustment	$	346	$	—	$	346		0.1%
At book value less current surrender
charges of 5% or more		—		—		—		—%
At fair value		—		623,677		623,677		45.6%
Total with adjustment or at market value		346		623,677		624,023		45.7%
At book value without adjustment (minimal or no charge or adjustment)		7,484		—		7,484		0.5%
Not subject to discretionary withdrawal		735,038		—		735,038		53.8%
Total gross		742,868		623,677		1,366,545		100.0%
Reinsurance ceded		44,530		—		44,530
Total, net	$	698,338	$	623,677	$	1,322,015

37

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The withdrawal characteristics of life reserves are as follows:

	December 31, 2020
	General Account						Separate Account - Nonguaranteed
Subject to discretionary withdrawal, surrender values, or policy loans:		Account Value		Cash Value		Reserve		Account Value		Cash Value		Reserve
Term policies with cash value	$	—	$	67	$	83	$	—	$	—	$	—
Universal life		579,542		617,469		626,589		—		—		—
Other permanent cash value life insurance		—		113,452		120,009		—		—		—
Variable universal life		1,009		1,009		1,012		44,800		44,800		44,800
Not subject to discretionary withdrawal or no cash values:
Term policies without cash value		N/A		N/A		19,486		N/A		N/A		—
Accidental death benefits		N/A		N/A		4		N/A		N/A		—
Disability - active lives		N/A		N/A		176		N/A		N/A		—
Disability - disabled lives		N/A		N/A		1,080		N/A		N/A		—
Miscellaneous reserves		N/A		N/A		4,002		N/A		N/A		—
Total gross		580,551		731,997		772,441		44,800		44,800		44,800
Reinsurance ceded		580,551		625,971		657,710		44,800		44,800		44,800
Total, net	$	—	$	106,026	$	114,731	$	—	$	—	$	—
	December 31, 2019
	General Account						Separate Account - Nonguaranteed
Subject to discretionary withdrawal, surrender values, or policy loans:		Account Value		Cash Value		Reserve		Account Value		Cash Value		Reserve
Term policies with cash value	$	—	$	88	$	109	$	—	$	—	$	—
Universal life	$	574,613	$	574,410	$	583,983		—		—		—
Other permanent cash value life insurance		—		117,024		123,920		—		—		—
Variable universal life		967		967		967		38,799		38,799		38,799
Not subject to discretionary withdrawal or no cash values:
Term policies without cash value		N/A		N/A		23,056		N/A		N/A		—
Accidental death benefits		N/A		N/A		5		N/A		N/A		—
Disability - active lives		N/A		N/A		77		N/A		N/A		—
Disability - disabled lives		N/A		N/A		1,151		N/A		N/A		—
Miscellaneous reserves		N/A		N/A		5,133		N/A		N/A		—
Total gross		575,580		692,489		738,401		38,799		38,799		38,799
Reinsurance ceded		575,580		581,951		619,614		38,799		38,799		38,799
Total, net	$	—	$	110,538	$	118,787	$	—	$	—	$	—

38

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

10. Separate Accounts

The Company utilizes separate accounts to record and account for assets and liabilities for particular lines of business and/or transactions. The Company reported assets and liabilities from the following product lines into a separate account:

• Individual Annuity Product

• Group Annuity Product

• Variable Life Insurance Product

All the products are classified as separate accounts for the statutory financial statements.

Separate account assets and related liabilities are carried at fair value in the accompanying Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. The Company’s separate accounts invest in shares of Great-West Funds, Inc. and Putnam Funds, open-end management investment companies, which are related parties of the Company, and shares of other non-affiliated mutual funds.

All assets within each of the Company’s separate accounts are considered legally insulated from the general account at December 31, 2020. The legal insulation of the separate accounts prevents such assets from being generally available to satisfy claims resulting from the general account. At December 31, 2020 and 2019, the Company’s separate account assets that are legally insulated from the general account claims are $674,708 and $680,648, respectively.

As of December 31, 2020 and 2019, $287,682 and $265,124, respectively, were ceded under Modified Coinsurance to Protective. While the Company holds the respective asset and liability under the Modified Coinsurance agreement, the economics are ceded to Protective, resulting in no impact to net income.

As of December 31, 2020, $4,985,496 was acquired under modified coinsurance from MassMutual. While MassMutual holds the respective asset and liability under the modified coinsurance agreement, the economics are assumed by the Company.

All separate accounts are non-guaranteed separate accounts and include unit investment trusts, or series accounts that invest in diversified open-end management investment companies. The investments in shares are valued at the closing net asset value as determined by the appropriate fund/portfolio at the end of each day. The net investment experience of the separate account is credited directly to the policyholder and can be positive or negative. Some of the separate accounts provide an incidental death benefit of the greater of the policyholder’s account balance or premium paid and some provide an incidental annual withdrawal benefit for the life of the policyholder.

39

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following tables provide information regarding the Company’s separate accounts:

	Year Ended December 31,
	2020		2019
Premiums, considerations or deposits	$	52,090	$	70,263
Reserves:
For accounts with assets at:
Fair value	$	670,053	$	662,476
Total reserves	$	670,053	$	662,476
By withdrawal characteristics:
At fair value	$	670,053	$	662,476
Total subject to discretionary withdrawals	$	670,053	$	662,476

A reconciliation of the amounts transferred to and from the separate accounts is presented below:

	Year Ended December 31,
	2020			2019			2018
Transfers as reported in the Summary of Operations of the separate account statement:
Transfers to separate accounts	$	52,090		$	70,263		$	110,705
Transfers from separate accounts		(125,242	)		(205,056	)		(150,178	)
Net transfers from separate accounts		(73,152	)		(134,793	)		(39,473	)
Reconciling adjustments:
Net transfer of reserves to separate accounts		24,129			65,414			29,330
Net transfers as reported in the Statements of Operations	$	(49,023	)	$	(69,379	)	$	(10,143	)

11. Capital and Surplus, Dividend Restrictions, and Other Matters

As an insurance company domiciled in the State of New York, the Company is required to maintain a minimum of $2,250 of capital and surplus. Dividends are paid as determined by the Board of Directors, subject to restrictions as discussed below. The Company did not pay dividends during the years ended December 31, 2020, 2019 and 2018.

The maximum amount of dividends which can be paid to shareholders by insurance companies domiciled in the State of New York, without prior approval of the Superintendent of Financial Services, is subject to restrictions relating to statutory surplus and statutory net gain from operations. The Company may not pay a dividend during the year ended December 31, 2021 without the approval of the Superintendent due to the net loss related to the MassMutual ceding commission in 2020. Dividends are non-cumulative.

In the fourth quarter of 2020, the Company received a capital contribution of $218 million from GWL&A. The proceeds were used to finance the MassMutual transaction.

40

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The portion of unassigned funds (surplus) represented or (reduced) by each of the following items is:

	December 31,
	2020			2019
Current year net (loss) income	$	(144,467	)	$	25,832
Unrealized gains		715			801
Deferred income taxes		12,812			(12,707	)
Non-admitted assets		(10,829	)		(457	)
Asset valuation reserve		(8,238	)		(5,239	)
Surplus as regards reinsurance		8,692			8,907
Other		75,132			61,748
Total unassigned funds	$	(66,183	)	$	78,885

Risk-based capital (“RBC”) is a regulatory tool for measuring the minimum amount of capital appropriate for a life, accident and health organization to support its overall business operations in consideration of its size and risk profile. The Division requires the Company to maintain minimum capital and surplus equal to the company action level as calculated in the RBC model. The Company exceeds the required amount.

12. Federal Income Taxes

The following table presents the components of the net admitted deferred tax asset:

	December 31, 2020						December 31, 2019						Change
	Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary		Capital		Total
Gross deferred tax assets	$	15,355	$	—	$	15,355	$	2,180	$	—	$	2,180	$	13,175	$	—	$	13,175
Valuation allowance adjustment		—		—		—		—		—		—		—		—		—
Adjusted gross deferred tax asset		15,355		—		15,355		2,180		—		2,180		13,175		—		13,175
Deferred tax assets non-admitted		(10,817)		458		(10,359)		(130)		2		(128)		(10,687)		456		(10,231)
Net admitted deferred tax asset		4,538		458		4,996		2,050		2		2,052		2,488		456		2,944
Gross deferred tax liabilities		(847)		(458)		(1,305)		(963)		(2)		(965)		116		(456)		(340)
Net admitted deferred tax asset	$	3,691	$	—	$	3,691	$	1,087	$	—	$	1,087	$	2,604	$	—	$	2,604

41

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The Company admits deferred tax assets pursuant to paragraphs 11.a, 11.b.i, 11.b.ii, and 11.c, in SSAP No. 101. The following table presents the amount of deferred tax asset admitted under each component of SSAP No. 101:

		December 31, 2020						December 31, 2019						Change
		Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary			Capital		Total
(a)	Federal income taxes paid in prior years recoverable through loss carrybacks	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—	$	—
(b)	Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (lesser of (i) and (ii) below)		3,691		—		3,691		1,087		—		1,087		2,604			—		2,604
	(i) Adjusted gross deferred tax assets expected to be realized following the balance sheet date		3,691		—		3,691		1,087		—		1,087		2,604			—		2,604
	(ii) Adjusted gross deferred tax assets expected allowed per limitation threshold		—		—		27,846		—		—		16,366		—			—		11,480
(c)	Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities		847		458		1,305		963		2		965		(116	)		456		340
	Total deferred tax assets admitted as a results of the application of SSAP No. 101	$	4,538	$	458	$	4,996	$	2,050	$	2	$	2,052	$	2,488		$	456	$	2,944

The following table presents the threshold limitations utilized in the admissibility of deferred tax assets under paragraph 11.b of SSAP No. 101:

	2020		2019
Ratio percentage used to determine recovery period and threshold limitation amount		977.99%		1508.68%
Amount of adjusted capital and surplus used to determine recovery period and threshold limitation	$	185,640	$	112,748

The following table presents the impact of tax planning strategies:

	December 31, 2020				December 31, 2019				Change
	Ordinary		Capital		Ordinary		Capital		Ordinary		Capital
Adjusted gross deferred tax asset	$	15,355	$	—	$	2,180	$	—	$	13,175	$	—
% of adjusted gross deferred tax asset by character attributable to tax planning strategies		—%		—%		—%		—%		—%		—%
Net admitted adjusted gross deferred tax assets	$	4,538	$	458	$	2,050	$	2	$	2,488	$	456
% of net admitted adjusted gross deferred tax asset by character attributable to tax planning strategies		—%		—%		—%		—%		—%		—%

The Company’s tax planning strategies do not include the use of reinsurance.

There are no temporary differences for which deferred tax liabilities are not recognized.

42

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The components of current income taxes incurred include the following:

	Year Ended December 31,
	2020		2019		Change
Current income tax (benefit)	$	316	$	(13,275)	$	13,591
Federal income tax (benefit) on net capital gains		1,109		4,709		(3,600)
Total	$	1,425	$	(8,566)	$	9,991
	Year Ended December 31,
	2019		2018		Change
Current income tax (benefit)	$	(13,275)	$	952	$	(14,227)
Federal income tax (benefit) on net capital gains		4,709		(103)		4,812
Total	$	(8,566)	$	849	$	(9,415)

43

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The tax effects of temporary differences, which give rise to the deferred income tax assets and liabilities are as follows:

	December 31,
Deferred income tax assets:	2020			2019			Change
Ordinary:
Reserves	$	1,599		$	1,209		$	390
Provision for dividends		378			483			(105	)
Compensation and benefit accrual		255			246			9
Receivables - non-admitted		75			68			7
Ceding commission-reinsurance		12,862			—			12,862
Other		186			174			12
Total ordinary gross deferred tax assets		15,355			2,180			13,175
Valuation allowance adjustment		—			—			—
Total adjusted ordinary gross deferred tax assets		15,355			2,180			13,175
Non-admitted ordinary deferred tax assets		(10,817	)		(130	)		(10,687	)
Admitted ordinary deferred tax assets		4,538			2,050			2,488
Capital:
Investments		—			—			—
Total capital gross deferred tax assets		—			—			—
Valuation allowance adjustment		—			—			—
Total adjusted gross capital deferred tax assets		—			—			—
Non-admitted capital deferred tax assets		458			2			456
Admitted capital deferred tax assets		458			2			456
Total admitted deferred tax assets	$	4,996		$	2,052		$	2,944
Deferred income tax liabilities:
Ordinary:
Investments	$	(132	)	$	(115	)	$	(17	)
Premium receivable		(80	)		(82	)		2
Policyholder Reserves		(635	)		(766	)		131
Other		—			—			—
Total ordinary deferred tax liabilities		(847	)		(963	)		116
Capital:
Investments		(458	)		(2	)		(456	)
Total capital deferred tax liabilities		(458	)		(2	)		(456	)
Total deferred tax liabilities	$	(1,305	)	$	(965	)	$	(340	)
Net admitted deferred income tax asset	$	3,691		$	1,087		$	2,604

44

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The change in deferred income taxes reported in surplus before consideration of non-admitted assets is comprised of the following components:

	December 31,
	2020			2019			Change
Total deferred income tax assets	$	15,355		$	2,180		$	13,175
Total deferred income tax liabilities		(1,305	)		(964	)		(341	)
Net deferred income tax asset	$	14,050		$	1,216
Tax effect of unrealized capital gains (losses)								(22	)
Change in net deferred income tax							$	12,812
	December 31,
	2019			2018			Change
Total deferred income tax assets	$	2,180		$	15,545		$	(13,365)
Total deferred income tax liabilities		(964	)		(1,622	)		658
Net deferred income tax asset	$	1,216		$	13,923
Tax effect of unrealized capital gains (losses)								—
Change in net deferred income tax							$	(12,707	)

The provision for federal income taxes and change in deferred income taxes differ from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The significant items causing this difference are as follows:

	December 31,
	2020			2019			2018
Income tax expense at statutory rate	$	(30,272	)	$	3,368		$	(991	)
Federal tax rate change		—			—			—
Ceding commission, net of transaction expenses		922			1,106			—
Tax adjustment for interest maintenance reserve		18,323			(4,710	)		(260	)
Income tax (benefit) on realized capital gain (loss)		1,109			4,868			(57	)
Dividend received deduction		(249	)		(227	)		(236	)
Prior year adjustment		(997	)		(57	)		(152	)
Tax credits		(175	)		(212	)		(136	)
Tax effect of non-admitted assets		(30	)		31			(12	)
Other		(18	)		(26	)		79
Total	$	(11,387	)	$	4,141		$	(1,765	)
		2020			2019			2018
Federal income taxes incurred	$	1,425		$	(8,566	)	$	848
Change in net deferred income taxes		(12,812	)		12,707			(2,613	)
Total income tax expense (benefit)	$	(11,387)		$	4,141		$	(1,765	)

As of December 31, 2020 the Company had no operating loss carry forwards available for tax purposes.

As of December 31, 2020, the Company utilized foreign tax credit carry forwards of $0.

45

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

There were no income taxes incurred for years ended December 31, 2020, 2019 and 2018, that will be available for recoupment in the event of future net losses.

The Company has no deposits admitted under Section 6603 of the Internal Revenue Code.

The Company’s federal income tax return is consolidated with the following entities (the “U.S. Consolidated Group”):

Great-West Lifeco U.S. LLC

GWFS Equities, Inc.

GWL&A Financial Inc.

Great-West Life & Annuity Insurance Company of South Carolina

Great-West Life & Annuity Insurance Company

Putnam Investments, LLC

Putnam Acquisition Financing, Inc.

Putnam Retail Management, LP

Putnam Retail Management GP, Inc.

Putnam Investor Services, Inc.

PanAgora Holdings, Inc

PanAgora Asset Management, Inc.

Putnam Advisory Holdings, LLC

Putnam Advisory Holdings II, LLC

Empower Retirement, LLC

Advised Assets Group, LLC

Great-West Trust Company, LLC

Great-West Capital Management, LLC

Personal Capital Corporation

Personal Capital Advisors Corporation

Personal Capital Services Corporation

Personal Capital Technology Corporation

The Company, Great-West Life & Annuity Insurance Company of South Carolina and Great-West Life & Annuity Insurance Company (“GWLA Subgroup”) are life insurance companies who form a life subgroup under the consolidated return regulations. These regulations determine whether the taxable income or losses of this subgroup may offset or be offset with the taxable income or losses of other non-life entities.

The GWLA Subgroup accounts for income taxes on the modified separate return method on each of their separate company, statutory financial statements. Under this method, current and deferred tax expense or benefit is determined on a separate return basis as the Company also considers taxable income or losses from other members of the GWLA Subgroup when determining its deferred tax assets and liabilities, and in evaluating the realizability of its deferred tax assets.

The method of settling income tax payables and receivables (“Tax Sharing Agreement”) among the US consolidated group is subject to a written agreement approved by the Board of Directors, whereby settlement is made on a separate return basis (i.e., the amount that would be due to or from a jurisdiction had an actual separate return been filed) except for the current utilization of any net operating losses and other tax attributes by members of the US Consolidated Group, which can lead to receiving a payment when none would be received from the jurisdiction had a real separate tax return been required. The GWLA Subgroup has a policy of settling intercompany balances as soon as practical after the filing of the federal consolidated return or receipt of the income tax refund from the Internal Revenue Service (“I.R.S.”).

46

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The Company determines income tax contingencies in accordance with SSAP No. 5R, Liabilities, Contingencies and Impairments of Assets (“SSAP No. 5R”) as modified by SSAP 101. The Company did not recognize any SSAP No. 5R contingencies during 2020 or 2019. The Company does not expect a significant increase in tax contingencies within the 12 month period following the balance sheet date.

The Company recognizes interest and penalties accrued related to tax contingencies in current income tax expense. The Company did not accrue for the payment of tax contingency interest and penalties at December 31, 2020 and 2019.

The Company files income tax returns in the U.S. federal jurisdiction and various states. The Company’s parent, with which it files a consolidated federal income tax return, is under examination for tax years 2007 through 2014 with respect to foreign tax credit refund claims. Tax years 2015 through 2019 are open to federal examination by the Internal Revenue Service. The Company does not expect significant increases or decreases to unrecognized tax benefits relating to federal, state or local audits.

The Company does not have any foreign operations as of the periods ended December 31, 2020 and December 31, 2019 and therefore is not subject to the tax on Global Intangible Low-Taxed Income.

13. Participating Insurance

Individual life insurance premiums paid, net of reinsurance, under individual participating policies were 100%, (1)% and 8% of total individual premiums earned during the years ended December 31, 2020, 2019 and 2018, respectively. The Company accounts for its policyholder dividends based upon the contribution method. The Company paid dividends in the amount of $1,498, $1,938 and $2,132 to its policyholders during the years ended December  31, 2020, 2019 and 2018 respectively.

14. Concentrations

No customer accounted for 10% or more of the Company’s revenues in 2020, 2019 or 2018. In addition, no segment of the Company’s business is dependent on a single customer or a few customers, the loss of which would have a significant effect on the Company or any of its business segments. The loss of business from any one, or a few, independent brokers or agents would not have a material adverse effect on the Company or any of its business agents. New York State had concentrations of 97%, 97% and 96% for the years ended December 31, 2020, 2019 and 2018, respectively.

15. Contingencies

From time to time, the Company may be threatened with, or named as a defendant in, lawsuits, arbitrations, and administrative claims. Any such claims that are decided against the Company could harm the Company’s business. The Company is also subject to periodic regulatory audits and inspections which could result in fines or other disciplinary actions. Unfavorable outcomes in such matters, should they occur, may result in a material impact on the Company’s financial position, results of operations, or cash flows.

16. Subsequent Events

Management has evaluated subsequent events for potential recognition or disclosure in the Company’s statutory financial statements through April 1, 2021, the date on which they were issued. No subsequent events have occurred requiring recognition or disclosure in the Company’s statutory financial statements.

47

SUPPLEMENTAL SCHEDULES

(See Independent Auditors’ Report)

48

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Supplemental Schedule of Selected Statutory Financial Data

As of and for the Year Ended December 31, 2020

(In Thousands)

Investment income earned:
U.S. Government bonds	$	364
Other bonds (unaffiliated)		28,706
Preferred stocks (unaffiliated)		2
Mortgage loans		1,743
Contract loans		680
Cash, cash equivalents and short-term investments		210
Other invested assets		109
Aggregate write-ins for investment income		19
Gross investment income	$	31,833
Mortgage loans - Book value:
Commercial mortgages	$	238,564
Mortgage loans by standing - Book value:
Good standing	$	238,564
Other long-term invested assets - Statement value:	$	14,382
Bonds and short-term investments by maturity and designation:
Bonds by maturity - Statement value:
Due within one year or less	$	93,461
Over 1 year through 5 years		611,322
Over 5 years through 10 years		871,240
Over 10 years through 20 years		218,151
Over 20 years		97,351
Total by maturity	$	1,891,525
Bonds and short-term investments by designation - Statement value:
NAIC 1	$	1,131,468
NAIC 2		734,264
NAIC 3		25,793
Total by designation	$	1,891,525
Total bonds publicly traded	$	973,670
Total bonds privately placed		917,855
Preferred stocks - Statement value		842
Short-term investments - Book value		22,226
Collar, swap and forward agreements open - Statement value		(109	)
Life insurance in force:

. (Continued)

49

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Supplemental Schedule of Selected Statutory Financial Data

As of and for the Year Ended December 31, 2020

(In Thousands)

Ordinary	$	197,800
Life insurance policies with disability provisions in-force:
Ordinary	$	1,511
Supplementary contracts in-force:
Ordinary - involving life contingencies
Income payable	$	—
Annuities:
Ordinary:
Immediate - amount of income payable	$	—
Deferred - fully paid account balance		—
Deferred - not fully paid - account balance		—
Group:
Certificates - amount of income payable	$	2,733
Certificates - fully paid account balance		—
Certificates - not fully paid - account balance		—
Accident and health insurance - equivalent premiums in-force:
Other	$	19
Deposit funds and dividend accumulations:
Deposit funds - account balance	$	—
Dividend accumulations - account balance		1,207

. (Concluded)

50

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Supplemental Schedule of Selected Statutory Financial Data

As of and for the Year Ended December 31, 2020

(In Thousands)

Supplemental Schedule of the Annual Audit Report

Supplemental Schedule Regarding Reinsurance Contracts with Risk-Limiting Features

Reinsurance contracts subject to Appendix A-791—Life and Health Reinsurance Agreements of the NAIC Accounting Practices and Procedures Manual:

The Company has not entered into, renewed or amended reinsurance contracts on or after January 1, 1996, which include risk-limiting features, as described in SSAP No. 61R—Life, Deposit-Type and Accident and Health Reinsurance (SSAP No. 61R). Deposit accounting, as described in SSAP No. 61R was not applied for reinsurance contracts, which include risk-limiting features since the Company does not have applicable contracts.

Reinsurance contracts NOT subject to Appendix A-791—Life and Health Reinsurance Agreements of the NAIC Accounting Practices and Procedures Manual:

The Company has not applied reinsurance accounting, as described in in SSAP No. 61R, to reinsurance contracts entered into, renewed or amended on or after January 1, 1996, which include risk-limiting features, as described in SSAP No. 61R since the Company does not have applicable contracts. As such, the reinsurance reserve credit, as described in SSAP No. 61R, was not reduced.

Payments to reinsurers (excluding reinsurance contracts with a federal or state facility):

The Company has not entered into, renewed or amended reinsurance contracts on or after January 1, 1996, which contain provisions that allow (1) the reporting of losses or settlements with the reinsurer to occur less frequently than quarterly or (2) payments due from the reinsurer to not be made in cash within ninety days of the settlement date unless there is no activity during the period.

The Company has not entered into, renewed or amended reinsurance contracts on or after January 1, 1996, which contain a payment schedule, accumulating retentions from multiple years or any features inherently designed to delay timing of the reimbursement to the ceding company.

Reinsurance contracts NOT subject to Appendix A-791—Life and Health Reinsurance Agreements of the NAIC Accounting Practices and Procedures Manual and NOT yearly-renewable term that meet the risk transfer requirements under SSAP No. 61R:

The Company has not reflected reinsurance reserve credit for any reinsurance contracts entered into, renewed or amended on or after January 1, 1996 for the following:

a. Assumption reinsurance

b. Non-proportional reinsurance that does not result in significant surplus relief

The Company does not prepare financial information under generally accepted accounting principles (“GAAP”). As such, the Company has not ceded any risk during the period ended December 31, 2020 under any reinsurance contracts entered into, renewed or amended on or after January 1, 1996, that applies reinsurance accounting, as described under SSAP No. 61R for statutory accounting principles (SAP) and applies deposit accounting under GAAP.

The Company has not ceded any risk during the period ended December 31, 2020 under any reinsurance contracts entered into, renewed or amended on or after January 1, 1996, accounted for as reinsurance under GAAP and as a deposit under SSAP No. 61R.

51

Variable Annuity-1 Series Account of

Great-West Life & Annuity

Insurance Company of New York

Annual Statement as of and for the year ended

December 31, 2020 and Report of Independent

Registered Public Accounting Firm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Contract Owners of Variable Annuity-1 Series Account and the Board of Directors of Great-West Life & Annuity Insurance Company of New York

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the investment divisions listed in Appendix A of the Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York (the “Series Account”) as of December 31, 2020, the related statements of operations and changes in net assets for the periods indicated in Appendix A, and the related notes. In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the investment divisions constituting the Series Account as of December 31, 2020, and the results of their operations and the changes in their net assets for each of the periods indicated in Appendix A, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Series Account’s management. Our responsibility is to express an opinion on the Series Account’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Series Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Series Account is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Series Account’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2020, by correspondence with mutual fund companies. We believe that our audits provide a reasonable basis for our opinion.

/s/ DELOITTE & TOUCHE LLP

Denver, Colorado

May 6, 2021

We have served as the auditor of one or more Great-West investment company separate accounts since 1981.

VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

Investment division	Statement of assets and liabilities	Statement of operations	Statements of changes in net assets
AB VPS GROWTH AND INCOME PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AB VPS INTERNATIONAL GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AB VPS INTERNATIONAL VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AB VPS LARGE CAP GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AB VPS REAL ESTATE INVESTMENT PORTFOLIO	N/A	N/A	For the period January 1, 2019 to April 24, 2019
AB VPS SMALL/MID CAP VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
ALGER CAPITAL APPRECIATION PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
ALGER LARGE CAP GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
ALGER MID CAP GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AMERICAN CENTURY INVESTMENTS VP BALANCED FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AMERICAN CENTURY DISCIPLINED CORE VALUE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AMERICAN CENTURY INVESTMENTS VP VALUE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
AMERICAN FUNDS IS BOND FUND	December 31, 2020	For the period July 16, 2020 to December 31, 2020	For the period July 16, 2020 to December 31, 2020
AMERICAN FUNDS IS GLOBAL GROWTH FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020

AMERICAN FUNDS IS GROWTH-INCOME FUND	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and the period March 25, 2019 to December 31, 2019
AMERICAN FUNDS IS INTERNATIONAL FUND	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and the period February 20, 2019 to December 31, 2019
AMERICAN FUNDS IS NEW WORLD FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
BLACKROCK GLOBAL ALLOCATION VI FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
BNY MELLON IP MIDCAP STOCK PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
BNY MELLON VIF APPRECIATION PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
BNY MELLON VIF GROWTH AND INCOME PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
CLEARBRIDGE VARIABLE LARGE CAP GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and for the period October 30, 2019 to December 31, 2019
CLEARBRIDGE VARIABLE MID CAP PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
COLUMBIA VARIABLE PORTFOLIO - EMERGING MARKETS FUND	December 31, 2020	For the period of November 20, 2020 to December 31, 2020	For the period of November 20, 2020 to December 31, 2020
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DELAWARE VIP EMERGING MARKETS SERIES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DELAWARE VIP INTERNATIONAL SERIES	December 31, 2020	For the period December 11, 2020 to December 31, 2020	For the period December 11, 2020 to December 31, 2020
DELAWARE VIP INTERNATIONAL VALUE EQUITY SERIES	N/A	For the period January 1, 2020 to December 11, 2020	For the period of January 1, 2020 to December 11, 2020 and for the period of February 26, 2019 to December 31, 2019
DELAWARE VIP SMALL CAP VALUE SERIES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DELAWARE VIP SMID CAP CORE SERIES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DELAWARE VIP VALUE SERIES	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and for the period February 15, 2019 to December 31, 2019
DIMENSIONAL VA US TARGETED VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DWS CAPITAL GROWTH VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DWS CORE EQUITY VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020

DWS CROCI® U.S. VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DWS GLOBAL SMALL CAP VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DWS SMALL CAP INDEX VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DWS SMALL MID CAP GROWTH VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
DWS SMALL MID CAP VALUE VIP	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
FEDERATED HERMES MANAGED VOLATILITY FUND II	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
FRANKLIN SMALL CAP VALUE VIP FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST AGGRESSIVE PROFILE FUND	N/A	For the period January 1, 2020 to December 21, 2020	For the period January 1, 2020 to December 21, 2020 and for the year ended December 31, 2019
GREAT-WEST BOND INDEX FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST CONSERVATIVE PROFILE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST INTERNATIONAL INDEX FUND	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and for the period July 9, 2019 to December 31, 2019
GREAT-WEST LIFETIME 2015 FUND	December 31, 2020	For the period May 6, 2020 to December 31, 2020	For the period May 6, 2020 to December 31, 2020
GREAT-WEST LIFETIME 2020 FUND	December 31, 2020	For the period May 6, 2020 to December 31, 2020	For the period May 6, 2020 to December 31, 2020
GREAT-WEST LIFETIME 2025 FUND	December 31, 2020	For the period May 6, 2020 to December 31, 2020	For the period May 6, 2020 to December 31, 2020
GREAT-WEST LIFETIME 2030 FUND	December 31, 2020	For the period May 6, 2020 to December 31, 2020	For the period May 6, 2020 to December 31, 2020
GREAT-WEST LIFETIME 2035 FUND	N/A	N/A	For the period January 30, 2019 to February 20, 2019
GREAT-WEST MID CAP VALUE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST MODERATE PROFILE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST MODERATELY AGGRESSIVE PROFILE FUND	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and for the period October 22, 2019 to December 31, 2019
GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST MULTI-SECTOR BOND FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST REAL ESTATE INDEX FUND	December 31, 2020	For the year ended December 31, 2020	For the year ended December 31, 2020 and for the period October 14, 2019 to December 31, 2019

GREAT-WEST SECUREFOUNDATION® BALANCED FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO OPPENHEIMER V.I. GLOBAL FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. COMSTOCK FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. CORE EQUITY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. GROWTH & INCOME FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. HIGH YIELD FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. INTERNATIONAL GROWTH FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. MID CAP CORE EQUITY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. SMALL CAP EQUITY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
INVESCO V.I. TECHNOLOGY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
IVY VIP INTERNATIONAL CORE EQUITY	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT OVERSEAS PORTFOLIO INSTITUTIONAL SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
JANUS HENDERSON VIT RESEARCH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020

JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
LORD ABBETT SHORT DURATION INCOME PORTFOLIO	December 31, 2020	For the period July 22, 2020 to December 31, 2020	For the period July 22, 2020 to December 31, 2020
LVIP BARON GROWTH OPPORTUNITIES FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
MFS VIT UTILITIES SERIES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
MFS VIT II INTERNATIONAL INTRINSIC VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
MFS VIT III MID CAP VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
NVIT MID CAP INDEX FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIMCO VIT EMERGING MARKETS BOND PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIMCO VIT HIGH YIELD PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIMCO VIT LOW DURATION PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIMCO VIT REAL RETURN PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIMCO VIT TOTAL RETURN PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIONEER FUND VCT PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIONEER MID CAP VALUE VCT PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PRUDENTIAL SERIES FUND EQUITY PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PUTNAM VT EQUITY INCOME FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PUTNAM VT GLOBAL ASSET ALLOCATION FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PUTNAM VT GLOBAL HEALTH CARE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PUTNAM VT INCOME FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PUTNAM VT INTERNATIONAL VALUE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020

PUTNAM VT MORTGAGE SECURITIES FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
PUTNAM VT MULTI-CAP CORE FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
SCHWAB S&P 500 INDEX PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
SCHWAB VIT BALANCED PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
SCHWAB VIT GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
TEMPLETON FOREIGN VIP FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
TEMPLETON GLOBAL BOND VIP FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
THIRD AVENUE VALUE PORTFOLIO VARIABLE SERIES	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
TOUCHSTONE VST BOND FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
TOUCHSTONE VST COMMON STOCK FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
TOUCHSTONE VST COMMON STOCK FUND CLASS SC	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
TOUCHSTONE VST SMALL COMPANY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VANGUARD VIF CAPITAL GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VANGUARD VIF MID-CAP INDEX PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VANGUARD VIF REAL ESTATE INDEX PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VAN ECK VIP GLOBAL HARD ASSETS FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
WELLS FARGO VT DISCOVERY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
WELLS FARGO VT OMEGA GROWTH FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020
WELLS FARGO VT OPPORTUNITY FUND	December 31, 2020	For the year ended December 31, 2020	For each of the two years in the period ended December 31, 2020

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		AB VPS   GROWTH AND   INCOME PORTFOLIO			AB VPS   INTERNATIONAL   GROWTH PORTFOLIO			AB VPS   INTERNATIONAL   VALUE PORTFOLIO			AB VPS   LARGE CAP   GROWTH PORTFOLIO			AB VPS   SMALL/MID   CAP VALUE PORTFOLIO			ALGER CAPITAL   APPRECIATION   PORTFOLIO
ASSETS:
Investments at fair value (1)	$		274,823	$		269,009	$		65,846	$		445,686	$		187,269	$		158,525
Receivable Dividends and Other			0			-			-			-			-			0
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account
Total assets			274,823			269,009			65,846			445,686			187,269			158,525
LIABILITIES:
Payable on Units of the Account			4			7			2			9			4			1
Other payables			4			7			2			9			4			1
Payable to the General Account
Total liabilities			8			14			4			19			9			2
NET ASSETS	$		274,815			268,996			65,842			445,667			187,260			158,524
NET ASSETS REPRESENTED BY:
Accumulation units	$		274,815			268,996			65,842			445,667			187,260			158,524
ACCUMULATION UNITS OUTSTANDING			14,097			11,844			7,786			11,881			8,111			6,510
UNIT VALUE (ACCUMULATION)	$		19.49			22.71			8.46			37.51			23.09			24.35
(1)   Cost of investments:	$		239,983	$		217,656	$		62,311	$		354,446	$		196,303	$		147,406
Shares of investments:			9,486			9,761			4,557			5,781			10,769			1,586

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		ALGER LARGE CAP GROWTH PORTFOLIO			ALGER MID CAP GROWTH PORTFOLIO			ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO			AMERICAN CENTURY INVESTMENTS VP BALANCED FUND			AMERICAN CENTURY DISCIPLINED CORE VALUE FUND			AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND
														(1)
ASSETS:
Investments at fair value (1)	$		2,289,453	$		467,552	$		17,354	$		899,312	$		804,204	$		339,808
Receivable Dividends and Other			1			-			0			0			0			0
Receivable Units of the Account Sold			-			-			-			-			741			-
Receivable from the General Account
Total assets			2,289,454			467,552			17,354			899,312			804,945			339,808
LIABILITIES:
Payable on Units of the Account			46			9			0			17			12			6
Other payables			46			9			0			17			753			6
Payable to the General Account												63,092
Total liabilities			92			18			1			63,126			764			12
NET ASSETS			2,289,361			467,534			17,353			836,186			804,181			339,795
NET ASSETS REPRESENTED BY:
Accumulation units			2,289,361			467,534			17,353			836,186			804,181			339,795
ACCUMULATION UNITS OUTSTANDING			31,806			11,501			994			43,751			43,889			15,304
UNIT VALUE (ACCUMULATION)			71.98			40.65			17.46			19.11			18.32			22.20
(1)   Cost of investments:	$		1,945,545	$		313,447	$		16,035	$		761,712	$		755,541	$		244,848
Shares of investments:			24,510			14,066			1,247			103,014			78,230			24,100

(1) Fund name changed from American Century Income & Growth Fund to American Century Disciplined Core Value Fund.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		AMERICAN CENTURY   INVESTMENTS   VP MID CAP VALUE FUND			AMERICAN CENTURY INVESTMENTS VP VALUE FUND			AMERICAN FUNDS IS   BOND FUND			AMERICAN FUNDS IS GLOBAL GROWTH FUND			AMERICAN FUNDS IS GROWTH- INCOME FUND			AMERICAN FUNDS IS INTERNATIONAL FUND
ASSETS:
Investments at fair value (1)	$		297,035	$		2,979,221	$		45,443	$		185,896	$		160,058	$		5,789
Receivable Dividends and Other			0			-			-			-			-			-
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account
Total assets			297,035			2,979,221			45,443			185,896			160,058			5,789
LIABILITIES:
Payable on Units of the Account			6			50			1			2			2			0
Other payables			6			50			1			2			2			0
Payable to the General Account
Total liabilities			11			100			2			4			4			0
NET ASSETS			297,024			2,979,121			45,441			185,892			160,054			5,789
NET ASSETS REPRESENTED BY:
Accumulation units			297,024			2,979,121			45,441			185,892			160,054			5,789
ACCUMULATION UNITS OUTSTANDING			12,254			135,295			4,340			8,150			11,995			416
UNIT VALUE (ACCUMULATION)			24.24			22.02			10.47			22.81			13.34			13.91
(1)   Cost of investments:	$		290,231	$		2,635,476	$		45,209	$		144,914	$		145,173	$		4,723
Shares of investments:			14,440			266,716			3,874			4,516			2,965			246

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		AMERICAN FUNDS   IS NEW WORLD FUND			BLACKROCK GLOBAL ALLOCATION VI FUND			BNY MELLON IP   MIDCAP STOCK PORTFOLIO			BNY MELLON VIF   APPRECIATION PORTFOLIO			BNY MELLON   VIF GROWTH AND INCOME PORTFOLIO			CLEARBRIDGE   VARIABLE LARGE CAP GROWTH PORTFOLIO
ASSETS:
Investments at fair value (1)	$		208,605	$		276,818	$		483,425	$		750,218	$		242,274	$		213,324
Receivable Dividends and Other			-			-			0			0			0			-
Receivable Units of the Account Sold			-			0			0			-			0			-
Receivable from the General Account
Total assets			208,605			276,818			483,425			750,218			242,274			213,324
LIABILITIES:
Payable on Units of the Account			2			7			6			15			4			2
Other payables			2			7			6			15			4			2
Payable to the General Account
Total liabilities			5			14			12			30			8			4
NET ASSETS			208,600			276,804			483,413			750,188			242,265			213,321
NET ASSETS REPRESENTED BY:
Accumulation units			208,600			276,804			483,413			750,188			242,265			213,321
ACCUMULATION UNITS OUTSTANDING			11,555			18,620			29,782			22,425			10,464			13,102
UNIT VALUE (ACCUMULATION)			18.05			14.87			16.23			33.45			23.15			16.28
(1)   Cost of investments:	$		149,651	$		232,238	$		451,232	$		605,155	$		197,140	$		190,519
Shares of investments:			6,675			14,203			24,256			15,901			6,790			5,655

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		CLEARBRIDGE   VARIABLE MID CAP   PORTFOLIO			CLEARBRIDGE   VARIABLE SMALL   CAP GROWTH PORTFOLIO			COLUMBIA VARIABLE PORTFOLIO - EMERGING MARKETS FUND			COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND			COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND			COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND
ASSETS:
Investments at fair value (1)	$		68,693	$		95,946	$		12,103	$		1,279,928	$		1,331,918	$		93,065
Receivable Dividends and Other			-			0			-			-			-			0
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account
Total assets			68,693			95,946			12,103			1,279,928			1,331,918			93,065
LIABILITIES:
Payable on Units of the Account			1			1						18			22			2
Other payables			1			1						18			22			2
Payable to the General Account
Total liabilities			1			3						36			44			3
NET ASSETS			68,692			95,944			12,103			1,279,892			1,331,874			93,061
NET ASSETS REPRESENTED BY:
Accumulation units			68,692			95,944			12,103			1,279,892			1,331,874			93,061
ACCUMULATION UNITS OUTSTANDING			4,224			4,186			756			55,792			26,935			2,891
UNIT VALUE (ACCUMULATION)			16.26			22.92			16.02			22.94			49.45			32.19
(1)   Cost of investments:	$		58,051	$		77,379	$		11,298	$		792,346	$		938,682	$		104,546
Shares of investments:			2,681			2,621			559			44,581			47,131			5,795

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		DELAWARE VIP EMERGING MARKETS SERIES			DELAWARE VIP INTERNATIONAL SERIES			DELAWARE VIP SMALL CAP VALUE SERIES			DELAWARE VIP SMID CAP CORE SERIES			DELAWARE VIP VALUE SERIES			DIMENSIONAL VA US TARGETED VALUE PORTFOLIO
ASSETS:
Investments at fair value (1)	$		372,776	$		89,929	$		475,634	$		243,638	$		208,053	$		140,062
Receivable Dividends and Other			-			-			0			-			-			-
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account
Total assets			372,776			89,929			475,634			243,638			208,053			140,062
LIABILITIES:
Payable on Units of the Account			6						7			4			2			1
Other payables			6						7			4			2			1
Payable to the General Account
Total liabilities			12						14			8			5			3
NET ASSETS			372,763			89,929			475,619			243,630			208,048			140,060
NET ASSETS REPRESENTED BY:
Accumulation units			372,763			89,929			475,619			243,630			208,048			140,060
ACCUMULATION UNITS OUTSTANDING			24,101			8,836			16,619			9,389			16,345			10,016
UNIT VALUE (ACCUMULATION)			15.47			10.18			28.62			25.95			12.73			13.98
(1)   Cost of investments:	$		298,302	$		88,359	$		504,114	$		228,741	$		206,215	$		135,531
Shares of investments:			12,671			4,694			13,924			9,848			7,222			7,608

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		DWS CAPITAL GROWTH VIP			DWS CORE EQUITY VIP			DWS CROCI® U.S. VIP			DWS GLOBAL SMALL CAP VIP			DWS SMALL CAP INDEX VIP			DWS SMALL MID CAP GROWTH VIP
ASSETS:
Investments at fair value (1)	$		1,915,200	$		356,626	$		84,847	$		74,648	$		1,221,580	$		19,890
Receivable Dividends and Other			0			-			0			0			-			-
Receivable Units of the Account Sold			-			1,311			-			0			-			-
Receivable from the General Account
Total assets			1,915,200			357,938			84,847			74,648			1,221,580			19,890
LIABILITIES:
Payable on Units of the Account			36			5			3			1			19			0
Other payables			36			1,317			3			1			19			0
Payable to the General Account			1,358
Total liabilities			1,431			1,322			5			2			39			1
NET ASSETS			1,913,770			356,615			84,842			74,646			1,221,542			19,890
NET ASSETS REPRESENTED BY:
Accumulation units			1,913,770			356,615			84,842			74,646			1,221,542			19,890
ACCUMULATION UNITS OUTSTANDING			46,872			14,828			4,475			5,823			51,009			1,057
UNIT VALUE (ACCUMULATION)			40.83			24.05			18.96			12.82			23.95			18.81
(1)   Cost of investments:	$		1,323,663	$		324,842	$		91,080	$		63,367	$		1,048,789	$		19,954
Shares of investments:			45,212			29,160			6,567			6,273			70,246			1,141

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		DWS SMALL MID CAP VALUE VIP			FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II			FEDERATED HERMES MANAGED VOLATILITY FUND II			FRANKLIN SMALL CAP VALUE VIP FUND			GREAT-WEST BOND INDEX FUND
ASSETS:
Investments at fair value (1)	$		140,065	$		2,575,893	$		92,861	$		597,839	$		1,117,097
Receivable Dividends and Other			0			-			0			-			0
Receivable Units of the Account Sold			-			589			-			0			-
Receivable from the General Account						17,962
Total assets			140,065			2,594,445			92,861			597,839			1,117,097
LIABILITIES:
Payable on Units of the Account			3			54			2			9			13
Other payables			3			643			2			9			13
Payable to the General Account
Total liabilities			5			696			4			19			26
NET ASSETS			140,060			2,593,748			92,857			597,820			1,117,071
NET ASSETS REPRESENTED BY:
Accumulation units			140,060			2,593,748			92,857			597,820			1,117,071
ACCUMULATION UNITS OUTSTANDING			6,971			186,114			3,548			31,513			95,830
UNIT VALUE (ACCUMULATION)			20.09			13.94			26.17			18.97			11.66
(1)   Cost of investments:	$		159,615	$		2,520,605	$		86,847	$		631,264	$		1,120,218
Shares of investments:			11,672			230,815			8,373			41,230			73,882

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		GREAT-WEST CONSERVATIVE PROFILE FUND			GREAT-WEST INTERNATIONAL INDEX FUND			GREAT-WEST LIFETIME 2015 FUND			GREAT-WEST LIFETIME 2020 FUND			GREAT-WEST LIFETIME 2025 FUND			GREAT-WEST LIFETIME 2030 FUND
ASSETS:
Investments at fair value (1)	$		1,567,668	$		152,171	$		50,351	$		65,666	$		48,444	$		22,928
Receivable Dividends and Other			-			-			-			-			-			-
Receivable Units of the Account Sold			1,791			-			-			-			-			-
Receivable from the General Account
Total assets			1,569,459			152,171			50,351			65,666			48,444			22,928
LIABILITIES:
Payable on Units of the Account			13			0			1			1			1			0
Other payables			1,804			0			1			1			1			0
Payable to the General Account
Total liabilities			1,817			1			2			2			2			1
NET ASSETS			1,567,642			152,170			50,349			65,664			48,442			22,927
NET ASSETS REPRESENTED BY:
Accumulation units			1,567,642			152,170			50,349			65,664			48,442			22,927
ACCUMULATION UNITS OUTSTANDING			135,628			13,357			4,166			5,394			3,924			1,841
UNIT VALUE (ACCUMULATION)			11.56			11.39			12.09			12.17			12.34			12.45
(1)   Cost of investments:	$		1,523,113	$		151,386	$		44,170	$		57,709	$		41,582	$		19,477
Shares of investments:			188,876			12,174			3,409			5,676			3,125			1,920

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		GREAT-WEST MID CAP VALUE FUND			GREAT-WEST   MODERATE PROFILE FUND			GREAT-WEST   MODERATELY   AGGRESSIVE PROFILE FUND			GREAT-WEST MODERATELY   CONSERVATIVE   PROFILE FUND			GREAT-WEST   MULTI-SECTOR   BOND FUND			GREAT-WEST REAL ESTATE INDEX FUND
ASSETS:
Investments at fair value (1)	$		37,816	$		3,099,553	$		104,393	$		1,534,080	$		1,192,828	$		78,030
Receivable Dividends and Other			-			-			-			-			-			-
Receivable Units of the Account Sold			-			4,831			-			-			-			-
Receivable from the General Account
Total assets			37,816			3,104,384			104,393			1,534,080			1,192,828			78,030
LIABILITIES:
Payable on Units of the Account			1			45			2			26			17			1
Other payables			1			4,876			2			26			17			1
Payable to the General Account
Total liabilities			1			4,922			3			52			34			3
NET ASSETS			37,815			3,099,462			104,390			1,534,029			1,192,794			78,027
NET ASSETS REPRESENTED BY:
Accumulation units			37,815			3,099,462			104,390			1,534,029			1,192,794			78,027
ACCUMULATION UNITS OUTSTANDING			2,743			254,988			8,499			129,916			93,432			8,403
UNIT VALUE (ACCUMULATION)			13.79			12.16			12.28			11.81			12.77			9.29
(1)   Cost of investments:	$		37,583	$		2,839,219	$		100,603	$		1,345,807	$		1,085,659	$		93,639
Shares of investments:			3,040			438,409			13,664			171,406			81,869			7,185

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		GREAT-WEST SECUREFOUNDATION® BALANCED FUND			GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND			INVESCO OPPENHEIMER V.I. GLOBAL FUND			INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH FUND			INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP FUND			INVESCO V.I. COMSTOCK FUND
ASSETS:
Investments at fair value (1)	$		18,891,600	$		74,215	$		1,186,272	$		320,697	$		181,530	$		210,081
Receivable Dividends and Other			-			-			-			-			-			-
Receivable Units of the Account Sold			44,756			-			-			-			-			-
Receivable from the General Account									9,248
Total assets			18,936,356			74,215			1,195,520			320,697			181,530			210,081
LIABILITIES:
Payable on Units of the Account			308			4			23			5			2			6
Other payables			45,064			4			23			5			2			6
Payable to the General Account
Total liabilities			45,372			7			47			10			3			12
NET ASSETS			18,890,984			74,208			1,195,473			320,687			181,526			210,069
NET ASSETS REPRESENTED BY:
Accumulation units			18,890,984			74,208			1,195,473			320,687			181,526			210,069
ACCUMULATION UNITS OUTSTANDING			1,239,346			4,217			32,415			21,074			10,001			8,610
UNIT VALUE (ACCUMULATION)			15.24			17.60			36.88			15.22			18.15			24.40
(1)   Cost of investments:	$		16,993,765	$		61,921	$		919,268	$		253,570	$		165,447	$		228,810
Shares of investments:			1,312,828			1,994			22,760			110,205			6,620			13,024

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		INVESCO V.I. CORE EQUITY FUND			INVESCO V.I. GROWTH &  INCOME FUND			INVESCO V.I. HIGH YIELD FUND			INVESCO V.I. INTERNATIONAL  GROWTH FUND			INVESCO V.I. MID CAP CORE EQUITY FUND			INVESCO V.I.   SMALL CAP EQUITY FUND
ASSETS:
Investments at fair value (1)	$		129,005	$		539,315	$		134,250	$		528,662	$		114,698	$		115,954
Receivable Dividends and Other			0			-			-			0			0			-
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account
Total assets			129,005			539,315			134,250			528,662			114,698			115,954
LIABILITIES:
Payable on Units of the Account			3			11			2			12			2			2
Other payables			3			11			2			12			2			2
Payable to the General Account
Total liabilities			5			21			4			24			4			4
NET ASSETS			128,999			539,294			134,245			528,638			114,694			115,951
NET ASSETS REPRESENTED BY:
Accumulation units			128,999			539,294			134,245			528,638			114,694			115,951
ACCUMULATION UNITS OUTSTANDING			3,236			25,054			10,503			28,301			4,108			4,962
UNIT VALUE (ACCUMULATION)			39.86			21.53			12.78			18.68			27.92			23.37
(1)   Cost of investments:	$		122,937	$		596,451	$		137,669	$		441,298	$		126,249	$		105,484
Shares of investments:			4,239			28,810			25,523			12,433			10,851			5,623

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		INVESCO V.I. TECHNOLOGY FUND			IVY VIP INTERNATIONAL CORE EQUITY			JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES
ASSETS:
Investments at fair value (1)	$		352,068	$		159,766	$		311,362	$		4,123,714	$		2,283,321	$		1,518,179
Receivable Dividends and Other			-			-			-			-			0			-
Receivable Units of the Account Sold			-			-			-			614			-			181
Receivable from the General Account
Total assets			352,068			159,766			311,362			4,124,328			2,283,321			1,518,360
LIABILITIES:
Payable on Units of the Account			8			2			5			71			33			33
Other payables			8			2			5			685			33			213
Payable to the General Account
Total liabilities			15			4			11			756			66			246
NET ASSETS			352,053			159,762			311,351			4,123,572			2,283,255			1,518,114
NET ASSETS REPRESENTED BY:
Accumulation units			352,053			159,762			311,351			4,123,572			2,283,255			1,518,114
ACCUMULATION UNITS OUTSTANDING			29,961			14,025			10,064			200,136			171,518			87,559
UNIT VALUE (ACCUMULATION)			11.75			11.39			30.94			20.60			13.31			17.34
(1)   Cost of investments:	$		197,363	$		150,439	$		236,965	$		3,490,837	$		2,073,582	$		1,399,675
Shares of investments:			9,633			9,774			7,145			89,452			179,084			108,597

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO			JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES			JANUS HENDERSON OVERSEAS PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT RESEARCH PORTFOLIO
ASSETS:
Investments at fair value (1)	$		735,692	$		279,801	$		489,663	$		54,905	$		205,893	$		444,159
Receivable Dividends and Other			-			-			0			0			0			-
Receivable Units of the Account Sold			0			-			-			-			-			-
Receivable from the General Account			1,916
Total assets			737,608			279,801			489,663			54,906			205,893			444,159
LIABILITIES:
Payable on Units of the Account			13			2			7			1			4			9
Other payables			13			2			7			1			4			9
Payable to the General Account
Total liabilities			27			4			15			2			9			19
NET ASSETS			737,582			279,798			489,648			54,903			205,884			444,140
NET ASSETS REPRESENTED BY:
Accumulation units			737,582			279,798			489,648			54,903			205,884			444,140
ACCUMULATION UNITS OUTSTANDING			26,805			6,937			12,460			1,698			16,918			7,657
UNIT VALUE (ACCUMULATION)			27.52			40.34			39.30			32.33			12.17			58.00
(1)   Cost of investments:	$		448,554	$		208,078	$		353,777	$		48,524	$		157,547	$		254,863
Shares of investments:			11,564			13,756			23,886			1,437			5,629			9,000

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO			LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO			LORD ABBETT SHORT DURATION INCOME PORTFOLIO			LVIP BARON GROWTH OPPORTUNITIES FUND			MFS VIT UTILITIES SERIES			MFS VIT II INTERNATIONAL INTRINSIC VALUE PORTFOLIO
ASSETS:
Investments at fair value (1)	$		36,908	$		912,873	$		13,887	$		1,736,874	$		445,752	$		1,432,485
Receivable Dividends and Other			-			0			-			-			0			0
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account												8,007
Total assets			36,908			912,873			13,887			1,744,881			445,752			1,432,485
LIABILITIES:
Payable on Units of the Account			1			15			0			30			8			27
Other payables			1			15			0			30			8			27
Payable to the General Account
Total liabilities			1			30			1			60			17			54
NET ASSETS			36,906			912,842			13,887			1,744,820			445,736			1,432,431
NET ASSETS REPRESENTED BY:
Accumulation units			36,906			912,842			13,887			1,744,820			445,736			1,432,431
ACCUMULATION UNITS OUTSTANDING			2,181			59,326			1,317			31,158			24,239			51,487
UNIT VALUE (ACCUMULATION)			16.92			15.39			10.55			56.00			18.39			27.82
(1)   Cost of investments:	$		33,006	$		885,658	$		13,953	$		1,070,794	$		394,552	$		1,119,146
Shares of investments:			1,531			43,203			970			22,009			12,850			41,557

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		MFS VIT III MID CAP VALUE PORTFOLIO			MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO			NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO			NVIT MID CAP INDEX FUND			PIMCO VIT COMMODITY REAL RETURN STRATEGY PORTFOLIO			PIMCO VIT EMERGING MARKETS BOND PORTFOLIO
ASSETS:
Investments at fair value (1)	$		236,735	$		487,864	$		736	$		1,141,704	$		127,607	$		101,637
Receivable Dividends and Other			-			-			-			-			-			-
Receivable Units of the Account Sold			-			-			-			-			1			-
Receivable from the General Account
Total assets			236,735			487,864			736			1,141,704			127,608			101,637
LIABILITIES:
Payable on Units of the Account			3			10			0			17			2			1
Other payables			3			10			0			17			1			1
Payable to the General Account												961
Total liabilities			6			20			0			995			2			3
NET ASSETS			236,730			487,844			736			1,140,708			127,606			101,635
NET ASSETS REPRESENTED BY:
Accumulation units			236,730			487,844			736			1,140,708			127,606			101,635
ACCUMULATION UNITS OUTSTANDING			18,212			10,767			40			44,220			21,002			8,544
UNIT VALUE (ACCUMULATION)			13.00			45.31			18.34			25.80			6.08			11.89
(1)   Cost of investments:	$		237,420	$		526,433	$		726	$		1,132,236	$		138,226	$		99,172
Shares of investments:			27,559			28,480			41			50,429			21,092			7,562

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		PIMCO VIT HIGH YIELD PORTFOLIO			PIMCO VIT LOW DURATION PORTFOLIO			PIMCO VIT REAL RETURN PORTFOLIO			PIMCO VIT TOTAL RETURN PORTFOLIO			PIONEER FUND VCT PORTFOLIO			PIONEER MID CAP VALUE VCT PORTFOLIO
ASSETS:
Investments at fair value (1)	$		1,885,511	$		3,301,058	$		231,128	$		4,814,540	$		711,267	$		128,208
Receivable Dividends and Other			0			0			-			0			0			0
Receivable Units of the Account Sold			-			-			-			353			-			-
Receivable from the General Account												7,505
Total assets			1,885,512			3,301,058			231,128			4,822,398			711,267			128,208
LIABILITIES:
Payable on Units of the Account			30			66			3			95			11			3
Other payables			30			66			3			448			11			3
Payable to the General Account
Total liabilities			61			133			6			542			22			5
NET ASSETS			1,885,451			3,300,925			231,122			4,821,856			711,245			128,202
NET ASSETS REPRESENTED BY:
Accumulation units			1,885,451			3,300,925			231,122			4,821,856			711,245			128,202
ACCUMULATION UNITS OUTSTANDING			115,766			263,142			19,652			311,490			25,738			6,452
UNIT VALUE (ACCUMULATION)			16.29			12.54			11.76			15.48			27.63			19.87
(1)   Cost of investments:	$		1,837,529	$		3,281,776	$		207,740	$		4,546,400	$		593,730	$		129,557
Shares of investments:			235,395			318,021			16,604			415,405			42,262			7,227

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO			PRUDENTIAL SERIES FUND EQUITY PORTFOLIO			PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO			PUTNAM VT EQUITY INCOME FUND			PUTNAM VT GLOBAL ASSET ALLOCATION FUND			PUTNAM VT GLOBAL HEALTH CARE FUND
ASSETS:
Investments at fair value (1)	$		274,703	$		178,380	$		18,527	$		756,655	$		172,201	$		530,059
Receivable Dividends and Other			0			-			-			-			-			-
Receivable Units of the Account Sold			0			-			-			0			-			-
Receivable from the General Account
Total assets			274,703			178,380			18,527			756,655			172,201			530,059
LIABILITIES:
Payable on Units of the Account			5			4			0			11			3			9
Other payables			5			4			0			11			3			9
Payable to the General Account			1,275
Total liabilities			1,285			7			1			22			6			17
NET ASSETS			273,419			178,373			18,526			756,633			172,194			530,042
NET ASSETS REPRESENTED BY:
Accumulation units			273,419			178,373			18,526			756,633			172,194			530,042
ACCUMULATION UNITS OUTSTANDING			6,110			4,841			1,815			35,258			11,763			21,999
UNIT VALUE (ACCUMULATION)			44.75			36.85			10.21			21.46			14.64			24.09
(1)   Cost of investments:	$		206,932	$		78,831	$		23,511	$		681,590	$		154,694	$		466,370
Shares of investments:			7,322			2,236			707			29,661			9,456			30,692

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		PUTNAM VT   INCOME FUND			PUTNAM VT INTERNATIONAL VALUE FUND			PUTNAM VT MORTGAGE SECURITIES FUND			PUTNAM VT MULTI- CAP CORE FUND			ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO			SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO
ASSETS:
Investments at fair value (1)	$		442,319	$		65,344	$		606,337	$		167,018	$		99,861	$		9,468,538
Receivable Dividends and Other			0			0			-			0			-			-
Receivable Units of the Account Sold			-			-			-			0			-			643
Receivable from the General Account
Total assets			442,319			65,344			606,337			167,018			99,861			9,469,181
LIABILITIES:
Payable on Units of the Account			7			1			13			2			2			232
Other payables			7			1			13			2			2			876
Payable to the General Account																		54,249
Total liabilities			13			2			26			4			5			55,357
NET ASSETS			442,305			65,342			606,311			167,015			99,856			9,413,824
NET ASSETS REPRESENTED BY:
Accumulation units			442,305			65,342			606,311			167,015			99,856			9,413,824
ACCUMULATION UNITS OUTSTANDING			36,510			5,712			53,699			8,243			4,317			829,143
UNIT VALUE (ACCUMULATION)			12.11			11.44			11.29			20.26			23.13			11.35
(1)   Cost of investments:	$		432,338	$		62,570	$		635,275	$		132,672	$		112,514	$		9,468,629
Shares of investments:			38,131			6,313			67,147			7,714			13,774			9,468,538

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		SCHWAB S&P 500 INDEX PORTFOLIO			SCHWAB VIT BALANCED PORTFOLIO			SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO			SCHWAB VIT GROWTH PORTFOLIO			TEMPLETON FOREIGN VIP FUND			TEMPLETON GLOBAL BOND VIP FUND
ASSETS:
Investments at fair value (1)	$		22,768,860	$		98,887	$		612,189	$		41,875	$		158,882	$		316,908
Receivable Dividends and Other			0			-			-			0			0			-
Receivable Units of the Account Sold			895			-			-			-			-			-
Receivable from the General Account			27,479
Total assets			22,797,235			98,887			612,189			41,875			158,882			316,908
LIABILITIES:
Payable on Units of the Account			403			2			9			4			3			5
Other payables			1,299			2			9			4			3			5
Payable to the General Account
Total liabilities			1,702			3			19			7			5			9
NET ASSETS			22,795,533			98,884			612,170			41,868			158,877			316,899
NET ASSETS REPRESENTED BY:
Accumulation units			22,795,533			98,884			612,170			41,868			158,877			316,899
ACCUMULATION UNITS OUTSTANDING			761,617			7,635			44,021			2,817			15,085			33,511
UNIT VALUE (ACCUMULATION)			29.93			12.95			13.91			14.86			10.53			9.46
(1)   Cost of investments:	$		15,180,430	$		93,686	$		531,746	$		36,213	$		159,402	$		368,002
Shares of investments:			410,916			7,043			39,043			2,390			11,964			22,931

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		THIRD AVENUE VALUE PORTFOLIO VARIABLE SERIES			TOUCHSTONE VST BOND FUND			TOUCHSTONE VST COMMON STOCK FUND			TOUCHSTONE VST COMMON STOCK FUND CLASS SC			TOUCHSTONE VST SMALL COMPANY FUND			T. ROWE PRICE HEALTH SCIENCES PORTFOLIO
ASSETS:
Investments at fair value (1)	$		35,443	$		1,010,536	$		313,346	$		318,494	$		160,575	$		317,845
Receivable Dividends and Other			-			-			-			0			0			-
Receivable Units of the Account Sold			0			173			-			-			-			-
Receivable from the General Account
Total assets			35,444			1,010,709			313,346			318,494			160,575			317,845
LIABILITIES:
Payable on Units of the Account			0			23			4			9			3			4
Other payables						196			4			9			3			4
Payable to the General Account
Total liabilities			0			219			9			18			5			7
NET ASSETS			35,443			1,010,489			313,338			318,476			160,570			317,838
NET ASSETS REPRESENTED BY:
Accumulation units			35,443			1,010,489			313,338			318,476			160,570			317,838
ACCUMULATION UNITS OUTSTANDING			3,325			72,238			8,119			7,372			4,283			12,307
UNIT VALUE (ACCUMULATION)			10.66			13.99			38.59			43.20			37.49			25.83
(1)   Cost of investments:	$		32,020	$		913,470	$		294,389	$		236,261	$		149,318	$		259,652
Shares of investments:			2,321			93,482			28,460			29,007			10,221			5,207

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II			VANGUARD VIF CAPITAL GROWTH PORTFOLIO			VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO			VANGUARD VIF MID-CAP INDEX PORTFOLIO			VANGUARD VIF REAL ESTATE INDEX PORTFOLIO			VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO
ASSETS:
Investments at fair value (1)	$		293,832	$		677,620	$		237,172	$		514,995	$		237,725	$		396,485
Receivable Dividends and Other			0			-			0			0			0			0
Receivable Units of the Account Sold			-			-			-			-			-			-
Receivable from the General Account
Total assets			293,832			677,620			237,172			514,995			237,725			396,485
LIABILITIES:
Payable on Units of the Account			4			43			15			7			19			32
Other payables			4			43			15			7			19			32
Payable to the General Account
Total liabilities			9			86			30			13			38			64
NET ASSETS			293,823			677,534			237,142			514,981			237,686			396,421
NET ASSETS REPRESENTED BY:
Accumulation units			293,823			677,534			237,142			514,981			237,686			396,421
ACCUMULATION UNITS OUTSTANDING			11,652			29,453			14,876			26,925			16,274			18,740
UNIT VALUE (ACCUMULATION)			25.22			23.00			15.94			19.13			14.61			21.15
(1)   Cost of investments:	$		238,805	$		583,620	$		232,412	$		445,283	$		231,164	$		340,766
Shares of investments:			5,070			14,988			17,261			19,984			19,125			16,190

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		VAN ECK VIP   GLOBAL HARD   ASSETS FUND			VAN ECK VIP   UNCONSTRAINED   EMERGING MARKETS BOND FUND			WELLS FARGO VT   DISCOVERY FUND			WELLS FARGO VT   OMEGA GROWTH FUND			WELLS FARGO VT   OPPORTUNITY FUND
ASSETS:
Investments at fair value (1)	$		109,908	$		299,314	$		262,955	$		138,048	$		180,713
Receivable Dividends and Other			-			-			0			-			-
Receivable Units of the Account Sold			0			-			-			-			-
Receivable from the General Account						38,764
Total assets			109,908			338,078			262,955			138,048			180,713
LIABILITIES:
Payable on Units of the Account			2			4			3			3			4
Other payables			2			4			3			3			4
Payable to the General Account
Total liabilities			4			7			6			5			7
NET ASSETS			109,904			338,071			262,950			138,043			180,706
NET ASSETS REPRESENTED BY:
Accumulation units			109,904			338,071			262,950			138,043			180,706
ACCUMULATION UNITS OUTSTANDING			10,125			22,398			6,663			4,975			5,523
UNIT VALUE (ACCUMULATION)			10.85			15.09			39.46			27.75			32.72
(1)   Cost of investments:	$		88,049	$		279,404	$		187,814	$		92,570	$		155,257
Shares of investments:			5,100			33,897			5,396			3,414			6,099

The accompanying notes are an integral part of these financial statements. (Concluded)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		AB VPS GROWTH AND INCOME PORTFOLIO				AB VPS INTERNATIONAL GROWTH PORTFOLIO			AB VPS INTERNATIONAL VALUE PORTFOLIO				AB VPS LARGE CAP GROWTH PORTFOLIO				AB VPS SMALL/MID CAP VALUE PORTFOLIO				ALGER CAPITAL APPRECIATION PORTFOLIO
INVESTMENT INCOME:
Dividends	$		3,096		$		3,249	$		1,102		$		(0	)	$		2,638		$		0
EXPENSES:
Mortality and expense risk			1,052				1,546			359				1,580				1,402				396
NET INVESTMENT INCOME (LOSS)			2,044				1,703			743				(1,580	)			1,236				(396	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(1,664	)			2,723			(1,605	)			246				(54,515	)			3,175
Realized gain distributions			10,265				20,551			-				23,408				12,077				20,287
Net realized gain (loss) on investments			8,601				23,274			(1,605	)			23,654				(42,438	)			23,462
Change in net unrealized appreciation (depreciation) on investments			9,827				22,443			1,439				79,453				31,014				8,160
Net realized and unrealized gain (loss) on investments			18,428				45,717			(166	)			103,107				(11,424	)			31,621
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		20,472		$		47,420	$		577		$		101,527		$		(10,187	)	$		31,225

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		ALGER LARGE CAP GROWTH PORTFOLIO				ALGER MID CAP GROWTH PORTFOLIO				ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO				AMERICAN CENTURY INVESTMENTS VP BALANCED FUND			AMERICAN CENTURY DISCIPLINED CORE VALUE FUND				AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND
																	(1)
INVESTMENT INCOME:
Dividends	$		3,251		$		0		$		1,934		$		9,353	$		12,929		$		1,226
EXPENSES:
Mortality and expense risk			11,605				2,289				68				4,543			2,467				1,474
NET INVESTMENT INCOME (LOSS)			(8,354	)			(2,289	)			1,866				4,810			10,462				(247	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			371,810				(4,691	)			(24	)			32,783			(4,798	)			97
Realized gain distributions			290,544				50,474				266				26,079			30,632				3,698
Net realized gain (loss) on investments			662,353				45,783				241				58,863			25,834				3,795
Change in net unrealized appreciation (depreciation) on investments			265,126				132,686				(695	)			15,230			43,348				61,811
Net realized and unrealized gain (loss) on investments			927,480				178,469				(454	)			74,092			69,182				65,606
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		919,126		$		176,181		$		1,412		$		78,902	$		79,644		$		65,359

(1) Fund name changed from American Century Income & Growth Fund to American Century Disciplined Core Value Fund.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND				AMERICAN CENTURY INVESTMENTS VP VALUE FUND				AMERICAN FUNDS IS BOND FUND				AMERICAN FUNDS IS GLOBAL GROWTH FUND			AMERICAN FUNDS IS GROWTH- INCOME FUND				AMERICAN FUNDS IS INTERNATIONAL FUND
										(1)
INVESTMENT INCOME:
Dividends	$		4,635		$		60,916		$		739		$		921	$		1,528		$		32
EXPENSES:
Mortality and expense risk			1,449				13,755				63				555			475				17
NET INVESTMENT INCOME (LOSS)			3,186				47,162				676				366			1,053				15
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(4,884	)			1,966				(71	)			5,164			(202	)			(6	)
Realized gain distributions			-				66,940				-				4,203			3,074				-
Net realized gain (loss) on investments			(4,884	)			68,906				(71	)			9,366			2,872				(6	)
Change in net unrealized appreciation (depreciation) on investments			(726	)			(95,875	)			233				30,693			11,096				676
Net realized and unrealized gain (loss) on investments			(5,610	)			(26,969	)			163				40,059			13,969				670
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		(2,424	)	$		20,192		$		839		$		40,426	$		15,022		$		685

(1) For the period of July 16, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		AMERICAN FUNDS IS NEW WORLD FUND				BLACKROCK GLOBAL ALLOCATION VI FUND			BNY MELLON IP MIDCAP STOCK PORTFOLIO				BNY MELLON VIF APPRECIATION PORTFOLIO				BNY MELLON VIF GROWTH AND INCOME PORTFOLIO			CLEARBRIDGE VARIABLE LARGE CAP GROWTH PORTFOLIO
INVESTMENT INCOME:
Dividends	$		128		$		3,180	$		3,357		$		5,789		$		1,879	$		11
EXPENSES:
Mortality and expense risk			651				1,917			1,594				4,308				1,512			336
NET INVESTMENT INCOME (LOSS)			(524	)			1,264			1,763				1,481				367			(325	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			2,613				21,232			(3,698	)			(23,969	)			6,837			(198	)
Realized gain distributions			1,884				14,759			-				63,555				20,232			7,128
Net realized gain (loss) on investments			4,497				35,991			(3,698	)			39,586				27,069			6,930
Change in net unrealized appreciation (depreciation) on investments			53,323				25,890			34,922				108,982				23,111			22,317
Net realized and unrealized gain (loss) on investments			57,820				61,880			31,224				148,568				50,180			29,248
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		57,296		$		63,144	$		32,987		$		150,049		$		50,547	$		28,922

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		CLEARBRIDGE VARIABLE MID CAP PORTFOLIO				CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO				COLUMBIA VARIABLE PORTFOLIO - EMERGING MARKETS FUND				COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND				COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND				COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND
										(1)
INVESTMENT INCOME:
Dividends	$		162		$		0		$		0		$		0		$		(0	)	$		244
EXPENSES:
Mortality and expense risk			178				314				0				4,479				4,833				445
NET INVESTMENT INCOME (LOSS)			(16	)			(314	)							(4,479	)			(4,833	)			(200	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			221				(238	)			(9	)			18,018				(16,533	)			(479	)
Realized gain distributions			546				6,416				-				-				80,104				3,139
Net realized gain (loss) on investments			767				6,179				(9	)			18,018				63,571				2,661
Change in net unrealized appreciation (depreciation) on investments			6,528				21,627				805				314,625				295,651				4,166
Net realized and unrealized gain (loss) on investments			7,295				27,806				796				332,643				359,222				6,827
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		7,279		$		27,491		$		796		$		328,164		$		354,389		$		6,626

(1) For the period of November 20, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		DELAWARE VIP EMERGING MARKETS SERIES			DELAWARE VIP INTERNATIONAL SERIES				DELAWARE VIP INTERNATIONAL VALUE EQUITY SERIES				DELAWARE VIP SMALL CAP VALUE SERIES				DELAWARE VIP SMID CAP CORE SERIES				DELAWARE VIP VALUE SERIES
					(1)				(2)
INVESTMENT INCOME:
Dividends	$		2,666	$		0		$		1,947		$		5,344		$		1,189		$		3,376
EXPENSES:
Mortality and expense risk			1,629			0				239				2,281				1,183				655
NET INVESTMENT INCOME (LOSS)			1,037							1,707				3,063				6				2,721
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			16,544			(25	)			(1,137	)			(10,460	)			(27,857	)			(899	)
Realized gain distributions			6,177			-				3,665				23,183				5,078				7,796
Net realized gain (loss) on investments			22,721			(25	)			2,527				12,723				(22,779	)			6,897
Change in net unrealized appreciation (depreciation) on investments			51,984			1,570				(752	)			(39,017	)			33,156				(8,002	)
Net realized and unrealized gain (loss) on investments			74,705			1,545				1,775				(26,294	)			10,377				(1,105	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		75,742	$		1,545		$		3,483		$		(23,231	)	$		10,383		$		1,616

(1) For the period of December 11, 2020 to December 31, 2020.

(2) For the period of January 1, 2020 to December 11, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		DIMENSIONAL VA   US TARGETED VALUE PORTFOLIO				DWS CAPITAL GROWTH VIP				DWS CORE EQUITY   VIP				DWS CROCI® U.S.   VIP				DWS GLOBAL   SMALL CAP VIP			DWS SMALL CAP   INDEX VIP
INVESTMENT INCOME:
Dividends	$		2,141		$		7,088		$		3,741		$		1,915		$		474	$		12,966
EXPENSES:
Mortality and expense risk			447				8,422				1,291				557				280			5,901
NET INVESTMENT INCOME (LOSS)			1,694				(1,334	)			2,451				1,358				195			7,065
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(915	)			38,622				(5,597	)			(3,000	)			(134)			(25,135)
Realized gain distributions			-				96,342				12,657				4,333				-			119,991
Net realized gain (loss) on investments			(915	)			134,963				7,059				1,333				(134)			94,857
Change in net unrealized appreciation (depreciation) on investments			5,809				368,687				30,339				(18,251	)			10,567			160,371
Net realized and unrealized gain (loss) on investments			4,894				503,650				37,398				(16,918	)			10,434			255,228
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		6,588		$		502,316		$		39,849		$		(15,560	)	$		10,628	$		262,293

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		DWS SMALL MID   CAP GROWTH VIP				DWS SMALL MID   CAP VALUE VIP				FEDERATED FUND   FOR U.S. GOVERNMENT SECURITIES II			FEDERATED HERMES MANAGED   VOLATILITY FUND II				FRANKLIN SMALL   CAP VALUE VIP FUND			GREAT-WEST AGGRESSIVE   PROFILE FUND
																				(1)
INVESTMENT INCOME:
Dividends	$		7		$		1,675		$		63,020	$		2,207		$		7,412	$		502
EXPENSES:
Mortality and expense risk			67				705				15,424			557				2,587			447
NET INVESTMENT INCOME (LOSS)			(61	)			970				47,597			1,650				4,825			55
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(69	)			(1,752	)			33,530			3,064				(29,149)			20,201
Realized gain distributions			223				9,733				-			-				31,526			-
Net realized gain (loss) on investments			154				7,981				33,530			3,064				2,377			20,201
Change in net unrealized appreciation (depreciation) on investments			4,188				(12,415	)			27,279			(4,586	)			29,826			(4,168	)
Net realized and unrealized gain (loss) on investments			4,342				(4,433	)			60,809			(1,522	)			32,202			16,034
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		4,281		$		(3,463	)	$		108,406	$		128		$		37,027	$		16,089

(1) For the period of January 1, 2020 to December 21, 2020

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		GREAT-WEST BOND   INDEX FUND				GREAT-WEST   CONSERVATIVE   PROFILE FUND				GREAT-WEST   INTERNATIONAL   INDEX FUND				GREAT-WEST   LIFETIME 2015 FUND				GREAT-WEST   LIFETIME 2020 FUND			GREAT-WEST   LIFETIME 2025 FUND
														(1)				(1)			(1)
INVESTMENT INCOME:
Dividends	$		14,889		$		19,551		$		2,231		$		821		$		1,188	$		819
EXPENSES:
Mortality and expense risk			3,996				3,648				69				122				158			115
NET INVESTMENT INCOME (LOSS)			10,893				15,903				2,162				699				1,030			705
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			66,226				(5,164	)			(70	)			(62	)			(79)			(57)
Realized gain distributions			14,894				4,472				692				791				1,803			1,245
Net realized gain (loss) on investments			81,120				(692	)			621				728				1,724			1,188
Change in net unrealized appreciation (depreciation) on investments			(33,869	)			71,903				232				6,181				7,957			6,862
Net realized and unrealized gain (loss) on investments			47,251				71,210				853				6,910				9,681			8,050
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		58,144		$		87,114		$		3,015		$		7,608		$		10,711	$		8,754
	(1) For the period of May 6, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		GREAT-WEST LIFETIME 2030 FUND				GREAT-WEST MID CAP VALUE FUND				GREAT-WEST MODERATE PROFILE FUND				GREAT-WEST MODERATELY AGGRESSIVE PROFILE FUND				GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND			GREAT-WEST MULTI- SECTOR BOND FUND
		(1)
INVESTMENT INCOME:
Dividends	$		415		$		256		$		45,646		$		1,873		$		17,726	$		35,607
EXPENSES:
Mortality and expense risk			53				140				11,909				445				5,665			4,116
NET INVESTMENT INCOME (LOSS)			362				116				33,737				1,428				12,061			31,491
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(25	)			(689	)			(15,589	)			(195	)			402			2,227
Realized gain distributions			822				20				55,191				6,549				18,815			6,043
Net realized gain (loss) on investments			797				(669	)			39,602				6,355				19,218			8,269
Change in net unrealized appreciation (depreciation) on investments			3,451				918				257,754				2,602				188,905			61,459
Net realized and unrealized gain (loss) on investments			4,248				249				297,356				8,956				208,123			69,729
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		4,610		$		365		$		331,093		$		10,385		$		220,184	$		101,220

(1) For the period of May 6, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		GREAT-WEST REAL   ESTATE INDEX   FUND				GREAT-WEST SECUREFOUNDATION® BALANCED FUND				GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND				INVESCO OPPENHEIMER V.I. GLOBAL FUND			INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH FUND			INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP FUND
INVESTMENT INCOME:
Dividends	$		1,222		$		359,805		$		2		$		6,920	$		2,589	$		518
EXPENSES:
Mortality and expense risk			360				81,274				935				5,911			1,224			386
NET INVESTMENT INCOME (LOSS)			862				278,531				(932	)			1,009			1,366			132
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(247	)			(11,788	)			33,329				1,592			3,330			(424)
Realized gain distributions			-				680,892				2,429				36,056			3,825			1,174
Net realized gain (loss) on investments			(247	)			669,104				35,759				37,649			7,155			750
Change in net unrealized appreciation (depreciation) on investments			(11,425	)			1,263,556				(6,405	)			237,243			44,826			21,332
Net realized and unrealized gain (loss) on investments			(11,672	)			1,932,660				29,354				274,892			51,981			22,082
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		(10,810	)	$		2,211,190		$		28,422		$		275,901	$		53,347	$		22,214

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		INVESCO V.I. COMSTOCK FUND				INVESCO V.I. CORE EQUITY FUND				INVESCO V.I. GROWTH & INCOME FUND				INVESCO V.I. HIGH YIELD FUND				INVESCO V.I. INTERNATIONAL GROWTH FUND			INVESCO V.I. MID CAP CORE EQUITY FUND
INVESTMENT INCOME:
Dividends	$		4,897		$		1,547		$		11,225		$		7,522		$		11,003	$		589
EXPENSES:
Mortality and expense risk			1,771				698				3,016				585				2,861			401
NET INVESTMENT INCOME (LOSS)			3,125				849				8,209				6,937				8,142			188
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(47,914	)			(69	)			(53,962	)			(323	)			(5,884)			(254)
Realized gain distributions			5,372				26,693				8,264				-				10,600			16,664
Net realized gain (loss) on investments			(42,542	)			26,625				(45,698	)			(323	)			4,717			16,410
Change in net unrealized appreciation (depreciation) on investments			12,649				(12,747	)			10,513				(3,118	)			40,303			(8,794)
Net realized and unrealized gain (loss) on investments			(29,893	)			13,878				(35,185	)			(3,441	)			45,019			7,616
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		(26,768	)	$		14,727		$		(26,976	)	$		3,496		$		53,161	$		7,804

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		INVESCO V.I. SMALL CAP EQUITY FUND				INVESCO V.I. TECHNOLOGY FUND				IVY VIP INTERNATIONAL CORE EQUITY				JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES				JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES				JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES
INVESTMENT INCOME:
Dividends	$		324		$		(0	)	$		13,838		$		6,051		$		87,144		$		64,498
EXPENSES:
Mortality and expense risk			467				1,750				2,150				1,404				18,104				8,940
NET INVESTMENT INCOME (LOSS)			(142	)			(1,750	)			11,687				4,647				69,040				55,558
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(251	)			12,334				(43,082	)			(7	)			456,755				4,650
Realized gain distributions			8,079				27,365				107				2,249				33,615				-
Net realized gain (loss) on investments			7,828				39,700				(42,974	)			2,242				490,370				4,650
Change in net unrealized appreciation (depreciation) on investments			16,469				76,506				20,143				26,839				(5,737	)			148,508
Net realized and unrealized gain (loss) on investments			24,297				116,206				(22,831	)			29,080				484,633				153,158
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		24,154		$		114,456		$		(11,144	)	$		33,727		$		553,674		$		208,716

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO			JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES				JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES				JANUS HENDERSON OVERSEAS PORTFOLIO INSTITUTIONAL SHARES				JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES
INVESTMENT INCOME:
Dividends	$		36,826	$		4,835	$		4		$		8		$		616		$		2,124
EXPENSES:
Mortality and expense risk			9,732			3,301			751				1,443				276				1,053
NET INVESTMENT INCOME (LOSS)			27,094			1,534			(747	)			(1,435	)			340				1,071
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			1,394			21,177			1,226				5,208				(242	)			2,796
Realized gain distributions			-			29,191			11,207				23,455				-				-
Net realized gain (loss) on investments			1,394			50,368			12,433				28,663				(242	)			2,796
Change in net unrealized appreciation (depreciation) on investments			106,452			64,709			56,425				110,324				7,138				25,130
Net realized and unrealized gain (loss) on investments			107,846			115,077			68,858				138,987				6,896				27,926
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		134,940	$		116,611	$		68,111		$		137,552		$		7,236		$		28,997

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		JANUS HENDERSON VIT RESEARCH PORTFOLIO				JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO				LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO				LORD ABBETT SHORT DURATION INCOME PORTFOLIO				LVIP BARON GROWTH OPPORTUNITIES FUND				MFS VIT UTILITIES SERIES
														(1)
INVESTMENT INCOME:
Dividends	$		2,000		$		274		$		20,682		$		374		$		(0	)	$		9,569
EXPENSES:
Mortality and expense risk			2,259				166				4,369				30				7,957				2,277
NET INVESTMENT INCOME (LOSS)			(259	)			108				16,313				344				(7,957	)			7,292
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			3,920				(145	)			5,571				(23	)			125,731				1,714
Realized gain distributions			29,151				1,805				-				-				28,248				11,322
Net realized gain (loss) on investments			33,071				1,660				5,571				(23	)			153,979				13,036
Change in net unrealized appreciation (depreciation) on investments			74,477				2,350				(27,418	)			(65	)			274,296				327
Net realized and unrealized gain (loss) on investments			107,548				4,010				(21,847	)			(89	)			428,275				13,364
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		107,289		$		4,118		$		(5,534	)	$		255		$		420,318		$		20,655
			(1)   For the period of July 22, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
			MFS VIT II INTERNATIONAL INTRINSIC VALUE PORTFOLIO			MFS VIT III MID CAP VALUE PORTFOLIO				MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO				NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO				NVIT MID CAP INDEX FUND				PIMCO VIT COMMODITY REAL RETURN STRATEGY PORTFOLIO
INVESTMENT INCOME:
Dividends		$		10,421	$		2,548		$		12,780		$		4		$	$	8,711		$		7,136
EXPENSES:
Mortality and expense risk				7,267			762				3,043				16				4,914				457
NET INVESTMENT INCOME (LOSS)				3,154			1,786				9,737				(11	)			3,797				6,679
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares				62,405			(2,103	)			28,233				2,089				(70,547	)			(2,983	)
Realized gain distributions				27,263			8,629				12,688				-				43,468				-
Net realized gain (loss) on investments				89,668			6,526				40,921				2,089				(27,079	)			(2,983	)
Change in net unrealized appreciation (depreciation) on investments				119,257			(1,589	)			(156,233	)			(2,773	)			108,089				(1,577	)
Net realized and unrealized gain (loss) on investments				208,925			4,937				(115,313	)			(684	)			81,011				(4,559	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS		$		212,079	$		6,723		$		(105,576	)	$		(695	)	$		84,808		$		2,120

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		PIMCO VIT EMERGING   MARKETS BOND   PORTFOLIO				PIMCO VIT HIGH YIELD PORTFOLIO				PIMCO VIT LOW   DURATION PORTFOLIO				PIMCO VIT REAL   RETURN PORTFOLIO				PIMCO VIT TOTAL   RETURN PORTFOLIO			PIONEER FUND VCT PORTFOLIO
INVESTMENT INCOME:
Dividends	$		4,282		$		85,524		$		39,193		$		2,907		$		103,254	$		4,417
EXPENSES:
Mortality and expense risk			333				8,333				18,415				891				26,767			2,864
NET INVESTMENT INCOME (LOSS)			3,949				77,191				20,778				2,016				76,487			1,553
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(125	)			(6,221	)			(24,069	)			(197	)			32,604			(6,969	)
Realized gain distributions			-				-				-				-				56,195			48,289
Net realized gain (loss) on investments			(125	)			(6,221	)			(24,069	)			(197	)			88,798			41,320
Change in net unrealized appreciation (depreciation) on investments			1,670				17,602				73,812				18,800				212,076			91,884
Net realized and unrealized gain (loss) on investments			1,545				11,381				49,743				18,604				300,875			133,204
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		5,494		$		88,571		$		70,521		$		20,619		$		377,361	$		134,757

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		PIONEER MID CAP VALUE VCT PORTFOLIO				PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO				PRUDENTIAL SERIES FUND EQUITY PORTFOLIO				PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO				PUTNAM VT EQUITY INCOME FUND				PUTNAM VT GLOBAL ASSET ALLOCATION FUND
INVESTMENT INCOME:
Dividends	$		892		$		0		$		0		$		0		$		12,318		$		3,217
EXPENSES:
Mortality and expense risk			680				1,109				903				90				3,313				825
NET INVESTMENT INCOME (LOSS)			212				(1,109	)			(903	)			(90	)			9,005				2,392
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(11,555	)			2,633				19,424				(108	)			22,175				(328	)
Realized gain distributions			3,034				14,390				-				-				49,595				2,902
Net realized gain (loss) on investments			(8,522	)			17,023				19,424				(108	)			71,770				2,574
Change in net unrealized appreciation (depreciation) on investments			(1,591	)			54,850				20,159				2,015				(57,656	)			13,162
Net realized and unrealized gain (loss) on investments			(10,113	)			71,873				39,583				1,907				14,114				15,736
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		(9,900	)	$		70,764		$		38,680		$		1,817		$		23,119		$		18,128

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		PUTNAM VT GLOBAL HEALTH CARE FUND				PUTNAM VT INCOME FUND				PUTNAM VT INTERNATIONAL VALUE FUND				PUTNAM VT MORTGAGE SECURITIES FUND				PUTNAM VT MULTI- CAP CORE FUND			ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO
INVESTMENT INCOME:
Dividends	$		1,957		$		19,948		$		1,839		$		61,827		$		665	$	731
EXPENSES:
Mortality and expense risk			2,430				1,743				223				3,430				402		438
NET INVESTMENT INCOME (LOSS)			(473	)			18,205				1,616				58,397				263		292
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(31,780	)			116				(817	)			(10,184	)			2,765		(6,523)
Realized gain distributions			36,877				3,530				975				-				2,265		1,557
Net realized gain (loss) on investments			5,097				3,646				158				(10,184	)			5,031		(4,966)
Change in net unrealized appreciation (depreciation) on investments			55,500				(1,132	)			2,705				(64,779	)			22,438		5,176
Net realized and unrealized gain (loss) on investments			60,597				2,514				2,864				(74,963	)			27,469		210
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		60,124		$		20,719		$		4,479		$		(16,567	)	$		27,732	$	502

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO				SCHWAB S&P 500 INDEX PORTFOLIO			SCHWAB VIT BALANCED PORTFOLIO				SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO				SCHWAB VIT GROWTH PORTFOLIO			TEMPLETON FOREIGN VIP FUND
INVESTMENT INCOME:
Dividends	$		26,934		$		223,024	$		1,862		$		11,201		$		4,026	$		4,682
EXPENSES:
Mortality and expense risk			53,791				105,885			517				3,674				1,343			761
NET INVESTMENT INCOME (LOSS)			(26,857	)			117,139			1,345				7,526				2,684			3,921
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(17,354	)			1,305,043			(10,527	)			(638	)			23,406			1,714
Realized gain distributions			-				35,434			205				1,486				1,929			-
Net realized gain (loss) on investments			(17,354	)			1,340,477			(10,322	)			848				25,336			1,714
Change in net unrealized appreciation (depreciation) on investments			(91	)			1,908,531			(3,345	)			42,968				(8,077)			(8,879)
Net realized and unrealized gain (loss) on investments			(17,446	)			3,249,008			(13,667	)			43,816				17,259			(7,165)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		(44,303	)	$		3,366,147	$		(12,322	)	$		51,342		$		19,942	$		(3,244)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		TEMPLETON GLOBAL BOND VIP FUND				THIRD AVENUE VALUE PORTFOLIO VARIABLE SERIES				TOUCHSTONE VST BOND FUND			TOUCHSTONE VST COMMON STOCK FUND				TOUCHSTONE VST COMMON STOCK FUND CLASS SC				TOUCHSTONE VST SMALL COMPANY FUND
INVESTMENT INCOME:
Dividends	$		24,437		$		777		$		16,809	$		1,684		$		1,716		$		202
EXPENSES:
Mortality and expense risk			1,283				165				6,243			1,149				2,107				716
NET INVESTMENT INCOME (LOSS)			23,154				612				10,566			535				(390	)			(515	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(1,501	)			895				12,432			(29,210	)			23,887				(6,300)
Realized gain distributions			-				210				-			6,717				8,839				5,453
Net realized gain (loss) on investments			(1,501	)			1,104				12,432			(22,493	)			32,726				(848	)
Change in net unrealized appreciation (depreciation) on investments			(39,024	)			(3,335	)			68,670			52,658				48,081				24,822
Net realized and unrealized gain (loss) on investments			(40,525	)			(2,230	)			81,102			30,165				80,808				23,975
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		(17,371	)	$		(1,618	)	$		91,668	$		30,699		$		80,417		$		23,460

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		T. ROWE PRICE HEALTH SCIENCES PORTFOLIO				T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II				VANGUARD VIF CAPITAL GROWTH PORTFOLIO			VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO				VANGUARD VIF MID- CAP INDEX PORTFOLIO			VANGUARD VIF REAL ESTATE INDEX PORTFOLIO
INVESTMENT INCOME:
Dividends	$		0		$		0		$		5,713	$		3,225		$		8,125	$		7,178
EXPENSES:
Mortality and expense risk			948				834				1,807			650				2,401			1,087
NET INVESTMENT INCOME (LOSS)			(948	)			(834	)			3,906			2,575				5,725			6,090
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			515				(203	)			1,770			(548	)			51,563			(6,469	)
Realized gain distributions			17,423				16,473				12,164			20,864				30,423			4,514
Net realized gain (loss) on investments			17,938				16,270				13,934			20,316				81,987			(1,955	)
Change in net unrealized appreciation (depreciation) on investments			45,919				45,073				64,072			671				42,835			(17,819	)
Net realized and unrealized gain (loss) on investments			63,858				61,343				78,006			20,987				124,821			(19,774	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		62,910		$		60,509		$		81,911	$		23,562		$		130,546	$		(13,683	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2020

	INVESTMENT DIVISIONS
		VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO				VAN ECK VIP GLOBAL HARD ASSETS FUND				VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND				WELLS FARGO VT DISCOVERY FUND				WELLS FARGO VT OMEGA GROWTH FUND				WELLS FARGO VT OPPORTUNITY FUND
INVESTMENT INCOME:
Dividends	$		2,010		$		641		$		11,068		$		0		$		0		$		663
EXPENSES:
Mortality and expense risk			1,267				440				1,071				829				592				935
NET INVESTMENT INCOME (LOSS)			743				200				9,997				(829	)			(592	)			(271	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares			(187	)			(22,805	)			(4,853	)			(181	)			1,251				(697	)
Realized gain distributions			29,052				-				-				9,677				8,727				11,468
Net realized gain (loss) on investments			28,865				(22,805	)			(4,853	)			9,496				9,977				10,771
Change in net unrealized appreciation (depreciation) on investments			47,505				43,838				14,673				71,107				32,645				18,462
Net realized and unrealized gain (loss) on investments			76,370				21,033				9,820				80,603				42,622				29,233
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$		77,114		$		21,233		$		19,817		$		79,774		$		42,030		$		28,961

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		AB VPS GROWTH AND INCOME PORTFOLIO								AB VPS INTERNATIONAL GROWTH PORTFOLIO								AB VPS INTERNATIONAL VALUE PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		2,044		$		885		$		1,703		$		(787	)	$		743		$		83
Net realized gain (loss) on investments			8,601				17,423				23,274				21,689				(1,605	)			(490	)
Change in net unrealized appreciation (depreciation) on investments			9,827				14,829				22,443				50,506				1,439				13,180
Increase (decrease) in net assets resulting from operations			20,472				33,137				47,420				71,408				577				12,773
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				-				-
Transfers for contract benefits and terminations			(8,950	)			(2,051	)			(72,811	)			(52,199	)			(76	)			(2,803	)
Net transfers			87,710				-				(11,854	)			(9,326	)			(24,964	)			(1,902	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				1,335				-				-
Increase (decrease) in net assets resulting from contract transactions			78,760				(2,051	)			(84,665	)			(60,190	)			(25,040	)			(4,705	)
Total increase (decrease) in net assets			99,232				31,086				(37,245	)			11,218				(24,463	)			8,068
NET ASSETS:
Beginning of period			175,583				144,497				306,241				295,023				90,305				82,237
End of period	$		274,815		$		175,583		$		268,996		$		306,241		$		65,842		$		90,305
CHANGES IN UNITS OUTSTANDING:
Units issued			7,559				-				-				1,143				-				-
Units redeemed			(2,545	)			(136	)			(5,250	)			(4,678	)			(2,930	)			(654	)
Net increase (decrease)			5,014				(136	)			(5,250	)			(3,535	)			(2,930	)			(654	)

The accompanying notes are an integral part of these financial statements. (Concluded)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		AB VPS LARGE CAP GROWTH PORTFOLIO								AB VPS REAL ESTATE INVESTMENT PORTFOLIO				AB VPS SMALL/MID CAP VALUE PORTFOLIO
		2020				2019				2019				2020				2019
										(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(1,580	)	$		(1,625	)	$		7,376		$		1,236		$		(600	)
Net realized gain (loss) on investments			23,654				64,941				(1,442	)			(42,438	)			28,713
Change in net unrealized appreciation (depreciation) on investments			79,453				(1,385	)			23,574				31,014				27,488
Increase (decrease) in net assets resulting from operations			101,527				61,931				29,508				(10,187	)			55,601
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				8,408				-				6,822				-
Transfers for contract benefits and terminations			(3,962	)			(435	)			(236,102	)			(49,239	)			(9,797	)
Net transfers			103,866				8,656				(2,619	)			(78,971	)			(33,134	)
Contract maintenance charges			-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-												-
Other, net			-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			99,903				16,629				(238,721	)			(121,388	)			(42,931	)
Total increase (decrease) in net assets			201,430				78,560				(209,213	)			(131,576	)			12,670
NET ASSETS:
Beginning of period			244,237				165,677				209,213				318,836				306,166
End of period	$		445,667		$		244,237		$		-		$		187,260		$		318,836
CHANGES IN UNITS OUTSTANDING:
Units issued			3,604				1,039				23				893				472
Units redeemed			(99	)			(291	)			(14,426	)			(8,390	)			(2,413	)
Net increase (decrease)			3,505				748				(14,403	)			(7,497	)			(1,941	)
			(1)   For the period of January 1, 2019 to April 24, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		ALGER CAPITAL APPRECIATION PORTFOLIO								ALGER LARGE CAP GROWTH PORTFOLIO								ALGER MID CAP GROWTH PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(396	)	$		(272	)	$		(8,354	)	$		(12,237	)	$		(2,289	)	$		(2,377	)
Net realized gain (loss) on investments			23,462				7,076				662,353				25,845				45,783				39,988
Change in net unrealized appreciation (depreciation) on investments			8,160				8,889				265,126				321,315				132,686				39,552
Increase (decrease) in net assets resulting from operations			31,225				15,693				919,126				334,923				176,181				77,163
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				43				-				-
Transfers for contract benefits and terminations			(1,783	)			(1,836	)			(20,479	)			(21,665	)			(6,340	)			(30,423	)
Net transfers			69,799				(3,840	)			(204,449	)			(42,173	)			123				(23,320	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			68,016				(5,676	)			(224,927	)			(63,795	)			(6,218	)			(53,743	)
Total increase (decrease) in net assets			99,242				10,017				694,198				271,128				169,963				23,420
NET ASSETS:
Beginning of period			59,282				49,265				1,595,163				1,324,035				297,571				274,151
End of period	$		158,524		$		59,282		$		2,289,361		$		1,595,163		$		467,534		$		297,571
CHANGES IN UNITS OUTSTANDING:
Units issued			4,057				93				24,812				3,460				18,488				60
Units redeemed			(981	)			(453	)			(29,316	)			(5,220	)			(18,825	)			(2,200	)
Net increase (decrease)			3,076				(360	)			(4,504	)			(1,760	)			(337	)			(2,140	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO								AMERICAN CENTURY INVESTMENTS VP BALANCED FUND								AMERICAN CENTURY DISCIPLINED CORE VALUE FUND
		2020				2019				2020				2019				2020				2019
																		(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,866		$		(89	)	$		4,810		$		9,880		$		10,462		$		8,886
Net realized gain (loss) on investments			241				174				58,863				25,212				25,834				45,662
Change in net unrealized appreciation (depreciation) on investments			(695	)			4,424				15,230				151,770				43,348				60,872
Increase (decrease) in net assets resulting from operations			1,412				4,509				78,902				186,862				79,644				115,420
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				1,620				5,970				-				92,510
Transfers for contract benefits and terminations			-				-				(385,542	)			(26,273	)			(37,183	)			(18,763	)
Net transfers			(1	)			-				37,652				32,141				97,069				871
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								(65,298	)							-
Other, net			-				-				-				(3,281	)			-				-
Increase (decrease) in net assets resulting from contract transactions			(1	)			-				(411,567	)			8,557				59,886				74,618
Total increase (decrease) in net assets			1,411				4,509				(332,665	)			195,419				139,531				190,038
NET ASSETS:
Beginning of period			15,942				11,433				1,168,851				973,432				664,650				474,612
End of period	$		17,353		$		15,942		$		836,186		$		1,168,851		$		804,181		$		664,650
CHANGES IN UNITS OUTSTANDING:
Units issued			-				-				4,554				2,056				4,532				6,504
Units redeemed			-				-				(29,081	)			(1,269	)			(2,712	)			(1,174	)
Net increase (decrease)			0				0				(24,527	)			787				1,820				5,330

(1) Fund name changed from American Century Income & Growth Fund to American Century Disciplined Core Value Fund.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND								AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND								AMERICAN CENTURY INVESTMENTS VP VALUE FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(247	)	$		162		$		3,186		$		3,495		$		47,162		$		31,866
Net realized gain (loss) on investments			3,795				11,960				(4,884	)			30,187				68,906				250,499
Change in net unrealized appreciation (depreciation) on investments			61,811				40,866				(726	)			37,072				(95,875	)			297,962
Increase (decrease) in net assets resulting from operations			65,359				52,988				(2,424	)			70,754				20,192				580,327
CONTRACT TRANSACTIONS:
Proceeds from units sold			13,643				5,399				20,599				-				60				60
Transfers for contract benefits and terminations			(377	)			(1,506	)			(27,951	)			(18,576	)			(61,883	)			(187,863	)
Net transfers			8,587				12,719				(8,339	)			6,028				19,850				764,026
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			21,853				16,612				(15,692	)			(12,548	)			(41,972	)			576,223
Total increase (decrease) in net assets			87,211				69,600				(18,115	)			58,206				(21,780	)			1,156,550
NET ASSETS:
Beginning of period			252,584				182,984				315,139				256,933				3,000,901				1,844,351
End of period	$		339,795		$		252,584		$		297,024		$		315,139		$		2,979,121		$		3,000,901
CHANGES IN UNITS OUTSTANDING:
Units issued			1,716				1,699				1,723				460				5,269				58,838
Units redeemed			(136	)			(128	)			(1,533	)			(737	)			(7,821	)			(16,512	)
Net increase (decrease)			1,579				1,571				190				(277	)			(2,552	)			42,326

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		AMERICAN FUNDS IS BOND FUND				AMERICAN FUNDS IS GLOBAL GROWTH FUND								AMERICAN FUNDS IS GROWTH-INCOME FUND
		2020				2020				2019				2020				2019
		(1)																(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		676		$		366		$		1,171		$		1,053		$		587
Net realized gain (loss) on investments			(71	)			9,366				8,186				2,872				545
Change in net unrealized appreciation (depreciation) on investments			233				30,693				30,180				11,096				3,789
Increase (decrease) in net assets resulting from operations			839				40,426				39,537				15,022				4,921
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				41,198				-				77,658				63,218
Transfers for contract benefits and terminations			-				(29,019	)			(1,456	)			(350	)			(211	)
Net transfers			44,603				(14,645	)			(5,517	)			(203	)			-
Contract maintenance charges			-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-				-								-
Other, net			-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			44,603				(2,466	)			(6,973	)			77,104				63,007
Total increase (decrease) in net assets			45,441				37,960				32,564				92,126				67,928
NET ASSETS:
Beginning of period			-				147,932				115,368				67,928				-
End of period	$		45,441		$		185,892		$		147,932		$		160,054		$		67,928
CHANGES IN UNITS OUTSTANDING:
Units issued			4,340				2,202				34				6,306				5,755
Units redeemed			-				(2,486	)			(476	)			(47	)			(19	)
Net increase (decrease)			4,340				(284	)			(442	)			6,259				5,736
			(1)   For the period of July 16, 2020 to December 31, 2020.
			(2)   For the period of March 25, 2019 to December 31, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		AMERICAN FUNDS IS INTERNATIONAL FUND							AMERICAN FUNDS IS NEW WORLD FUND								BLACKROCK GLOBAL ALLOCATION VI FUND
		2020				2019			2020				2019				2020				2019
						(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		15		$		50	$		(524	)	$		445		$		1,264		$		2,305
Net realized gain (loss) on investments			(6	)			119			4,497				4,126				35,991				16,512
Change in net unrealized appreciation (depreciation) on investments			676				390			53,323				18,692				25,890				45,827
Increase (decrease) in net assets resulting from operations			685				559			57,296				23,263				63,144				64,644
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-			85,048				-				-				-
Transfers for contract benefits and terminations			-				-			(26,138	)			(1,394	)			(40,415	)			-
Net transfers			(1	)			4,545			(9,429	)			(3,259	)			(144,495	)			(102,321	)
Contract maintenance charges			-				-			-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-							-								-
Other, net			-				-			-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(1	)			4,545			49,481				(4,653	)			(184,911	)			(102,321	)
Total increase (decrease) in net assets			685				5,104			106,777				18,610				(121,767	)			(37,677	)
NET ASSETS:
Beginning of period			5,104				-			101,823				83,213				398,571				436,248
End of period	$		5,789		$		5,104	$		208,600		$		101,823		$		276,804		$		398,571
CHANGES IN UNITS OUTSTANDING:
Units issued			-				416			7,370				58				556				-
Units redeemed			-				-			(2,750	)			(407	)			(14,164	)			(9,035	)
Net increase (decrease)			0				416			4,619				(349	)			(13,608	)			(9,035	)
			(1)   For the period February 20, 2019 to December 31, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		BNY MELLON IP MIDCAP STOCK PORTFOLIO								BNY MELLON VIF APPRECIATION PORTFOLIO								BNY MELLON VIF GROWTH AND INCOME PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,763		$		454		$		1,481		$		1,908		$		367		$		837
Net realized gain (loss) on investments			(3,698	)			29,357				39,586				48,169				27,069				41,670
Change in net unrealized appreciation (depreciation) on investments			34,922				48,302				108,982				108,996				23,111				13,954
Increase (decrease) in net assets resulting from operations			32,987				78,113				150,049				159,073				50,547				56,461
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				-				-
Transfers for contract benefits and terminations			(14,385	)			(16,030	)			(7,673	)			(7,946	)			-				-
Net transfers			(1,806	)			257				(159,396	)			220,134				(87,440	)			38,638
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(16,190	)			(15,773	)			(167,068	)			212,188				(87,440	)			38,638
Total increase (decrease) in net assets			16,796				62,340				(17,019	)			371,261				(36,893	)			95,099
NET ASSETS:
Beginning of period			466,617				404,277				767,207				395,946				279,158				184,059
End of period	$		483,413		$		466,617		$		750,188		$		767,207		$		242,265		$		279,158
CHANGES IN UNITS OUTSTANDING:
Units issued			198				60				54				9,600				0				6,878
Units redeemed			(1,418	)			(1,262	)			(5,504	)			(419	)			(4,838	)			(3,475	)
Net increase (decrease)			(1,219	)			(1,202	)			(5,450	)			9,181				(4,838	)			3,403

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		CLEARBRIDGE VARIABLE LARGE CAP GROWTH PORTFOLIO							CLEARBRIDGE VARIABLE MID CAP PORTFOLIO								CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO
		2020				2019			2020				2019				2020				2019
						(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(325	)	$		39	$		(16	)	$		(8	)	$		(314	)	$		(504	)
Net realized gain (loss) on investments			6,930				1,664			767				354				6,179				20,915
Change in net unrealized appreciation (depreciation) on investments			22,317				488			6,528				8,757				21,627				2,323
Increase (decrease) in net assets resulting from operations			28,922				2,191			7,279				9,103				27,491				22,734
CONTRACT TRANSACTIONS:
Proceeds from units sold			83,821				-			22,836				-				7,538				-
Transfers for contract benefits and terminations			(25	)			-			-				-				-				(86,464	)
Net transfers			59,810				38,602			19				1,411				(3,047	)			28,956
Contract maintenance charges			-				-			-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-							-								-
Other, net			-				-			-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			143,606				38,602			22,855				1,411				4,491				(57,508	)
Total increase (decrease) in net assets			172,528				40,793			30,134				10,514				31,983				(34,774	)
NET ASSETS:
Beginning of period			40,793				-			38,558				28,044				63,961				98,735
End of period	$		213,321		$		40,793	$		68,692		$		38,558		$		95,944		$		63,961
CHANGES IN UNITS OUTSTANDING:
Units issued			9,852				3,253			1,692				107				454				1,925
Units redeemed			(3	)			-			(176	)			-				(239	)			(5,681	)
Net increase (decrease)			9,849				3,253			1,516				107				215				(3,756	)
			(1)   For the period of October 30, 2019 to December 31, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		COLUMBIA VARIABLE PORTFOLIO - EMERGING MARKETS FUND				COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND								COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND
		2020				2020				2019				2020				2019
		(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		-		$		(4,479	)	$		(5,105	)	$		(4,833	)	$		(6,907	)
Net realized gain (loss) on investments			(9	)			18,018				14,281				63,571				60,333
Change in net unrealized appreciation (depreciation) on investments			805				314,625				247,171				295,651				292,979
Increase (decrease) in net assets resulting from operations			796				328,164				256,347				354,389				346,405
CONTRACT TRANSACTIONS:
Proceeds from units sold			11,307				-				-				60,238				-
Transfers for contract benefits and terminations			-				(22,324	)			(13,922	)			(70,137	)			(226,313	)
Net transfers			-				(24,960	)			24,380				155,532				(17,014	)
Contract maintenance charges			-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-				-								-
Other, net			-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			11,307				(47,283	)			10,458				145,633				(243,327	)
Total increase (decrease) in net assets			12,103				280,880				266,805				500,022				103,078
NET ASSETS:
Beginning of period			-				999,012				732,207				831,852				728,774
End of period	$		12,103		$		1,279,892		$		999,012		$		1,331,874		$		831,852
CHANGES IN UNITS OUTSTANDING:
Units issued			756								6,934				9,161				645
Units redeemed			-				(2,411	)			(6,215	)			(5,852	)			(8,474	)
Net increase (decrease)			756				(2,411	)			719				3,309				(7,829	)
			(1)   For the period of November 20, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND								DELAWARE VIP EMERGING MARKETS SERIES								DELAWARE VIP INTERNATIONAL SERIES
		2020				2019				2020				2019				2020
																		(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(200	)	$		(554	)	$		1,037		$		267		$		-
Net realized gain (loss) on investments			2,661				(7,463	)			22,721				4,938				(25	)
Change in net unrealized appreciation (depreciation) on investments			4,166				23,343				51,984				55,817				1,570
Increase (decrease) in net assets resulting from operations			6,626				15,326				75,742				61,022				1,545
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				71,926				19,238				3,308
Transfers for contract benefits and terminations			(92	)			(36,666	)			(4,108	)			(8,791	)			-
Net transfers			(4	)			9,750				(127,766	)			17,403				85,076
Contract maintenance charges			-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(96	)			(26,916	)			(59,949	)			27,850				88,384
Total increase (decrease) in net assets			6,530				(11,590	)			15,793				88,872				89,929
NET ASSETS:
Beginning of period			86,531				98,121				356,970				268,098				-
End of period	$		93,061		$		86,531		$		372,763		$		356,970		$		89,929
CHANGES IN UNITS OUTSTANDING:
Units issued			-				334				5,454				3,854				8,836
Units redeemed			(5	)			(1,392	)			(10,148	)			(1,350	)			-
Net increase (decrease)			(5	)			(1,058	)			(4,694	)			2,504				8,836
			(1)   For the period of December 11, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		DELAWARE VIP INTERNATIONAL VALUE EQUITY SERIES							DELAWARE VIP SMALL CAP VALUE SERIES								DELAWARE VIP SMID CAP CORE SERIES
		2020				2019			2020				2019				2020				2019
		(1)				(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,707		$		342	$		3,063		$		1,474		$		6		$		(526	)
Net realized gain (loss) on investments			2,527				330			12,723				41,223				(22,779	)			2,105
Change in net unrealized appreciation (depreciation) on investments			(752	)			752			(39,017	)			79,656				33,156				63,885
Increase (decrease) in net assets resulting from operations			3,483				1,424			(23,231	)			122,353				10,383				65,464
CONTRACT TRANSACTIONS:
Proceeds from units sold			60,277				19,239			15,700				-				16,206				-
Transfers for contract benefits and terminations			(24	)			-			(56,850	)			(17,160	)			(38,072	)			(10,951	)
Net transfers			(84,400	)			-			(11,556	)			(13,222	)			(31,185	)			(1,102	)
Contract maintenance charges			-				-			-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-							-								-
Other, net			-				-			-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(24,147	)			19,239			(52,706	)			(30,382	)			(53,052	)			(12,053	)
Total increase (decrease) in net assets			(20,665	)			20,663			(75,938	)			91,971				(42,669	)			53,411
NET ASSETS:
Beginning of period			20,663				-			551,557				459,586				286,299				232,888
End of period	$		(2	)	$		20,663	$		475,619		$		551,557		$		243,630		$		286,299
CHANGES IN UNITS OUTSTANDING:
Units issued			6,197				2,106			2,497				186				1,301				898
Units redeemed			(8,303	)			-			(3,748	)			(1,041	)			(3,441	)			(2,177	)
Net increase (decrease)			(2,106	)			2,106			(1,251	)			(855	)			(2,141	)			(1,279	)
			(1)   For the period of January 1, 2020 to December 11, 2020. (2)   For the period of February 26, 2019 to December 31, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		DELAWARE VIP VALUE SERIES								DIMENSIONAL VA US TARGETED VALUE PORTFOLIO								DWS CAPITAL GROWTH VIP
		2020				2019				2020				2019				2020				2019
						(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		2,721		$		(83	)	$		1,694		$		1,117		$		(1,334	)	$		(4,001	)
Net realized gain (loss) on investments			6,897				943				(915	)			5,631				134,963				144,050
Change in net unrealized appreciation (depreciation) on investments			(8,002	)			9,841				5,809				12,791				368,687				197,536
Increase (decrease) in net assets resulting from operations			1,616				10,701				6,588				19,539				502,316				337,585
CONTRACT TRANSACTIONS:
Proceeds from units sold			100,188				-				7,538				61,563				6,000				60
Transfers for contract benefits and terminations			(2,682	)			(699	)			(2,476	)			(46,224	)			(27,536	)			(24,488	)
Net transfers			5,642				93,281				3,971				(700	)			175,439				12,510
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								(723	)
Other, net			-				-				-				-				-				(635	)
Increase (decrease) in net assets resulting from contract transactions			103,149				92,582				9,033				14,639				153,180				(12,553	)
Total increase (decrease) in net assets			104,765				103,283				15,622				34,178				655,497				325,032
NET ASSETS:
Beginning of period			103,283				-				124,438				90,260				1,258,273				933,241
End of period	$		208,048		$		103,283		$		140,060		$		124,438		$		1,913,770		$		1,258,273
CHANGES IN UNITS OUTSTANDING:
Units issued			9,425				8,859				1,372				4,779				9,642				3,969
Units redeemed			(1,189	)			(750	)			(557	)			(3,717	)			(3,950	)			(3,944	)
Net increase (decrease)			8,236				8,109				815				1,062				5,692				25
			(1)   For the period February 15, 2019 to December 31, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		DWS CORE EQUITY VIP								DWS CROCI® U.S. VIP								DWS GLOBAL SMALL CAP VIP
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		2,451		$		1,218		$		1,358		$		1,983		$		195		$		(759	)
Net realized gain (loss) on investments			7,059				25,262				1,333				18,144				(134	)			(28,832	)
Change in net unrealized appreciation (depreciation) on investments			30,339				40,099				(18,251	)			36,102				10,567				41,667
Increase (decrease) in net assets resulting from operations			39,849				66,579				(15,560	)			56,229				10,628				12,076
CONTRACT TRANSACTIONS:
Proceeds from units sold			92,034				-				-				-				-				-
Transfers for contract benefits and terminations			(64,235	)			(2,753	)			3,650				(79,193	)			-				(676	)
Net transfers			4,087				(1,991	)			(64,356	)			(40,259	)			(2	)			(54,592	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			31,886				(4,744	)			(60,706	)			(119,452	)			(2	)			(55,268	)
Total increase (decrease) in net assets			71,735				61,835				(76,266	)			(63,223	)			10,626				(43,192	)
NET ASSETS:
Beginning of period			284,880				223,045				161,108				224,331				64,020				107,212
End of period	$		356,615		$		284,880		$		84,842		$		161,108		$		74,646		$		64,020
CHANGES IN UNITS OUTSTANDING:
Units issued			5,083				1,459				512				554				-				5,823
Units redeemed			(3,757	)			(1,224	)			(3,323	)			(6,647	)			-				(11,738	)
Net increase (decrease)			1,326				235				(2,811	)			(6,093	)			0				(5,915	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		DWS SMALL CAP INDEX VIP								DWS SMALL MID CAP GROWTH VIP								DWS SMALL MID CAP VALUE VIP
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		7,065		$		5,730		$		(61	)	$		(88	)	$		970		$		(102	)
Net realized gain (loss) on investments			94,857				63,634				154				1,616				7,981				10,143
Change in net unrealized appreciation (depreciation) on investments			160,371				156,588				4,188				1,066				(12,415	)			15,746
Increase (decrease) in net assets resulting from operations			262,293				225,952				4,281				2,594				(3,463	)			25,787
CONTRACT TRANSACTIONS:
Proceeds from units sold			47,418				126,782				-				-				-				-
Transfers for contract benefits and terminations			(338,401	)			(297,098	)			-				-				(2,714	)			(3,011	)
Net transfers			7,330				75,935				1,019				-				(2,708	)			231
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(283,652	)			(94,381	)			1,019				-				(5,422	)			(2,780	)
Total increase (decrease) in net assets			(21,359	)			131,571				5,301				2,594				(8,885	)			23,007
NET ASSETS:
Beginning of period			1,242,901				1,111,330				14,589				11,995				148,945				125,938
End of period	$		1,221,542		$		1,242,901		$		19,890		$		14,589		$		140,060		$		148,945
CHANGES IN UNITS OUTSTANDING:
Units issued			34,610				36,658				54				-				47				12
Units redeemed			(46,483	)			(31,300	)			-				-				(370	)			(153	)
Net increase (decrease)			(11,873	)			5,358				54				0				(323	)			(141	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II								FEDERATED HERMES MANAGED VOLATILITY FUND II								FRANKLIN SMALL CAP VALUE VIP FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		47,597		$		18,118		$		1,650		$		1,222		$		4,825		$		1,973
Net realized gain (loss) on investments			33,530				(4,839	)			3,064				1,514				2,377				53,500
Change in net unrealized appreciation (depreciation) on investments			27,279				75,457				(4,586	)			14,683				29,826				71,681
Increase (decrease) in net assets resulting from operations			108,406				88,736				128				17,419				37,027				127,154
CONTRACT TRANSACTIONS:
Proceeds from units sold			267,649				598,330				-				-				19,937				-
Transfers for contract benefits and terminations			(134,274	)			(110,498	)			(13,271	)			-				(47,598	)			(23,249	)
Net transfers			153,793				139,258				(5	)			(3,403	)			10,481				(66,283	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			636								-								-
Other, net			-				(246	)			-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			287,804				626,844				(13,276	)			(3,403	)			(17,180	)			(89,532	)
Total increase (decrease) in net assets			396,210				715,580				(13,148	)			14,016				19,847				37,622
NET ASSETS:
Beginning of period			2,197,538				1,481,958				106,005				91,989				577,973				540,351
End of period	$		2,593,748		$		2,197,538		$		92,857		$		106,005		$		597,820		$		577,973
CHANGES IN UNITS OUTSTANDING:
Units issued			335,775				73,029				-				-				4,120				700
Units redeemed			(303,131	)			(11,243	)			(505	)			(140	)			(4,421	)			(5,243	)
Net increase (decrease)			32,644				61,786				(505	)			(140	)			(301	)			(4,543	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		GREAT-WEST AGGRESSIVE PROFILE FUND								GREAT-WEST BOND INDEX FUND								GREAT-WEST CONSERVATIVE PROFILE FUND
		2020				2019				2020				2019				2020				2019
		(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		55		$		1,932		$		10,893		$		3,572		$		15,903		$		11,526
Net realized gain (loss) on investments			20,201				(15,664	)			81,120				161				(692	)			26,572
Change in net unrealized appreciation (depreciation) on investments			(4,168	)			40,546				(33,869	)			30,401				71,903				36,777
Increase (decrease) in net assets resulting from operations			16,089				26,814				58,144				34,134				87,114				74,875
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				4,557				227,109				30,626				-				50,000
Transfers for contract benefits and terminations			-				-				(339,244	)			(422	)			(45,308	)			(38,374	)
Net transfers			(152,089	)			(17,327	)			517,699				553,119				749,984				-
Contract maintenance charges			-				-				-				-				-				(6,904	)
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(152,089	)			(12,770	)			405,563				583,323				704,676				4,722
Total increase (decrease) in net assets			(136,000	)			14,044				463,707				617,457				791,790				79,597
NET ASSETS:
Beginning of period			136,000				121,956				653,364				35,907				775,852				696,255
End of period	$		0		$		136,000		$		1,117,071		$		653,364		$		1,567,642		$		775,852
CHANGES IN UNITS OUTSTANDING:
Units issued			99,039				16,228				121,057				56,236				67,874				4,778
Units redeemed			(111,124	)			(17,720	)			(84,956	)			(39	)			(4,410	)			(4,377	)
Net increase (decrease)			(12,085	)			(1,492	)			36,101				56,197				63,464				401
			(1)   For the period of January 1, 2020 to December 21, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

		INVESTMENT DIVISIONS
		GREAT-WEST INTERNATIONAL INDEX FUND						GREAT-WEST LIFETIME 2015 FUND				GREAT-WEST LIFETIME 2020 FUND
		2020			2019			2020				2020
					(1)			(2)				(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		2,162	$		313	$		699		$		1,030
Net realized gain (loss) on investments			621			46			728				1,724
Change in net unrealized appreciation (depreciation) on investments			232			553			6,181				7,957
Increase (decrease) in net assets resulting from operations			3,015			912			7,608				10,711
CONTRACT TRANSACTIONS:
Proceeds from units sold			133,374			14,869			42,743				54,953
Transfers for contract benefits and terminations			-			-			-				-
Net transfers			-			-			(2	)			-
Contract maintenance charges			-			-			-				-
Adjustments to net assets allocated to contracts in payout phase			-						-				-
Other, net			-			-			-				-
Increase (decrease) in net assets resulting from contract transactions			133,374			14,869			42,741				54,953
Total increase (decrease) in net assets			136,389			15,781			50,349				65,664
NET ASSETS:
Beginning of period			15,781			-			-				-
End of period	$		152,170	$		15,781	$		50,349		$		65,664
CHANGES IN UNITS OUTSTANDING:
Units issued			11,877			1,480			4,166				5,394
Units redeemed			-			-			-				-
Net increase (decrease)			11,877			1,480			4,166				5,394
			(1)  For the period July 9, 2019 to December 31, 2019
			(2)  For the period May 06, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
	GREAT-WEST LIFETIME 2025 FUND				GREAT-WEST LIFETIME 2030 FUND			GREAT-WEST LIFETIME 2035 FUND				GREAT-WEST MID CAP VALUE FUND
	2020				2020			2019				2020				2019
	(1)				(1)			(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)		705		$		362	$		(21	)	$		116		$		(138	)
Net realized gain (loss) on investments		1,188				797			2,725				(669	)			(144	)
Change in net unrealized appreciation (depreciation) on investments		6,862				3,451			-				918				6,667
Increase (decrease) in net assets resulting from operations		8,754				4,610			2,704				365				6,385
CONTRACT TRANSACTIONS:
Proceeds from units sold		39,690				18,318			73,042				-				-
Transfers for contract benefits and terminations		-				-			-				(722	)			(749	)
Net transfers		(2	)			-			(75,746	)			(152	)			450
Contract maintenance charges		-				-			-				-				-
Adjustments to net assets allocated to contracts in payout phase		-				-							-
Other, net		-				-			-				-				-
Increase (decrease) in net assets resulting from contract transactions		39,688				18,318			(2,704	)			(874	)			(299	)
Total increase (decrease) in net assets		48,442				22,927			-				(510	)			6,086
NET ASSETS:
Beginning of period		-				-			-				38,325				32,239
End of period		48,442		$		22,927	$		-		$		37,815		$		38,325
CHANGES IN UNITS OUTSTANDING:
Units issued		3,924				1,841			7,518				321				80
Units redeemed		-				-			(7,518	)			(333	)			(101	)
Net increase (decrease)		3,924				1,841			0				(12	)			(21	)
	(1) For the period May 06, 2020 to December 31, 2020.
	(2) For the period January 30, 2019 to February 20, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		GREAT-WEST MODERATE PROFILE FUND								GREAT-WEST MODERATELY AGGRESSIVE PROFILE FUND							GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND
		2020				2019				2020				2019			2020				2019
														(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		33,737		$		18,222		$		1,428		$		668	$		12,061		$		7,451
Net realized gain (loss) on investments			39,602				101,669				6,355				1,249			19,218				27,012
Change in net unrealized appreciation (depreciation) on investments			257,754				16,931				2,602				1,189			188,905				22,714
Increase (decrease) in net assets resulting from operations			331,093				136,822				10,385				3,106			220,184				57,177
CONTRACT TRANSACTIONS:
Proceeds from units sold			501,037				1,199,117				-				93,559			703,235				132,279
Transfers for contract benefits and terminations			(331,027	)			(28,896	)			(2,657	)			-			(28,258	)			-
Net transfers			(109,074	)			1,321,304				(3	)			-			(4,420	)			262,672
Contract maintenance charges			-				(5,563	)			-				-			-				-
Adjustments to net assets allocated to contracts in payout phase			-								-							-
Other, net			-				-				-				-			-				-
Increase (decrease) in net assets resulting from contract transactions			60,936				2,485,962				(2,660	)			93,559			670,557				394,951
Total increase (decrease) in net assets			392,029				2,622,784				7,725				96,665			890,741				452,128
NET ASSETS:
Beginning of period			2,707,433				84,649				96,665				-			643,288				191,160
End of period	$		3,099,462		$		2,707,433		$		104,390		$		96,665	$		1,534,029		$		643,288
CHANGES IN UNITS OUTSTANDING:
Units issued			47,582				240,575				-				8,738			73,451				39,264
Units redeemed			(38,978	)			(3,202	)			(239	)			-			(2,838	)			-
Net increase (decrease)			8,604				237,373				(239	)			8,738			70,613				39,264
			(1) For the period October 22, 2019 to December 31, 2019.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		GREAT-WEST MULTI- SECTOR BOND FUND								GREAT-WEST REAL ESTATE INDEX FUND								GREAT-WEST SECUREFOUNDATION® BALANCED FUND
		2020				2019				2020				2019				2020				2019
														(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		31,491		$		10,847		$		862		$		(125	)	$		278,531		$		212,831
Net realized gain (loss) on investments			8,269				1,733				(247	)			3,078				669,104				861,969
Change in net unrealized appreciation (depreciation) on investments			61,459				84,490				(11,425	)			(4,185	)			1,263,556				1,395,362
Increase (decrease) in net assets resulting from operations			101,220				97,070				(10,810	)			(1,232	)			2,211,190				2,470,162
CONTRACT TRANSACTIONS:
Proceeds from units sold			197,758				10,799				-				9,112				1,128,271				885,536
Transfers for contract benefits and terminations			(64,225	)			(28,841	)			-				-				(1,254,722	)			(1,246,174	)
Net transfers			3,465				4,064				(2	)			80,960				(45,448	)			404,961
Contract maintenance charges			-				-				-				-				-				(159,013	)
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			136,997				(13,978	)			(2	)			90,072				(171,899	)			(114,690	)
Total increase (decrease) in net assets			238,217				83,092				(10,813	)			88,840				2,039,291				2,355,472
NET ASSETS:
Beginning of period			954,577				871,485				88,840				-				16,851,693				14,496,221
End of period	$		1,192,794		$		954,577		$		78,027		$		88,840		$		18,890,984		$		16,851,693
CHANGES IN UNITS OUTSTANDING:
Units issued			18,797				1,610				-				8,403				85,087				104,899
Units redeemed			(6,312	)			(2,834	)			-				-				(96,370	)			(113,471	)
Net increase (decrease)			12,486				(1,224	)			0				8,403				(11,283	)			(8,572	)
			(1) For the period of October 14, 2019- December 31, 2019

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND								INVESCO OPPENHEIMER V.I. GLOBAL FUND								INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(932	)	$		(1,223	)	$		1,009		$		916		$		1,366		$		1,378
Net realized gain (loss) on investments			35,759				1,566				37,649				237,459				7,155				(10,478	)
Change in net unrealized appreciation (depreciation) on investments			(6,405	)			49,739				237,243				23,223				44,826				72,619
Increase (decrease) in net assets resulting from operations			28,422				50,082				275,901				261,598				53,347				63,519
CONTRACT TRANSACTIONS:
Proceeds from units sold			31,906				-				1,500				58,753				-				86,797
Transfers for contract benefits and terminations			(13,825	)			-				(24,694	)			(172,182	)			(44,527	)			(128,280	)
Net transfers			(173,411	)			(35,165	)			(21,857	)			(152,845	)			(5,233	)			(7,296	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								6,999								-
Other, net			-				-				-				41				-				-
Increase (decrease) in net assets resulting from contract transactions			(155,330	)			(35,165	)			(38,053	)			(266,233	)			(49,759	)			(48,779	)
Total increase (decrease) in net assets			(126,908	)			14,917				237,848				(4,635	)			3,587				14,740
NET ASSETS:
Beginning of period			201,116				186,199				957,625				962,260				317,100				302,360
End of period	$		74,208		$		201,116		$		1,195,473		$		957,625		$		320,687		$		317,100
CHANGES IN UNITS OUTSTANDING:
Units issued			2,134				2,150				2,914				8,068				303				9,895
Units redeemed			(12,025	)			(5,082	)			(3,472	)			(13,272	)			(4,205	)			(12,453	)
Net increase (decrease)			(9,891	)			(2,932	)			(558	)			(5,204	)			(3,902	)			(2,558	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP FUND								INVESCO V.I. COMSTOCK FUND								INVESCO V.I. CORE EQUITY FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		132		$		(444	)	$		3,125		$		4,963		$		849		$		101
Net realized gain (loss) on investments			750				6,181				(42,542	)			57,686				26,625				13,556
Change in net unrealized appreciation (depreciation) on investments			21,332				14,326				12,649				25,539				(12,747	)			11,785
Increase (decrease) in net assets resulting from operations			22,214				20,063				(26,768	)			88,188				14,727				25,442
CONTRACT TRANSACTIONS:
Proceeds from units sold			74,825				-				-				-				-				-
Transfers for contract benefits and terminations			-				(4,590	)			(98,246	)			(29,799	)			-				-
Net transfers			480				(14,750	)			(116,274	)			31,535				(6	)			(3,597	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			75,304				(19,340	)			(214,520	)			1,736				(6	)			(3,597	)
Total increase (decrease) in net assets			97,518				723				(241,288	)			89,924				14,721				21,845
NET ASSETS:
Beginning of period			84,008				83,285				451,357				361,433				114,278				92,433
End of period	$		181,526		$		84,008		$		210,069		$		451,357		$		128,999		$		114,278
CHANGES IN UNITS OUTSTANDING:
Units issued			4,634				554				55				2,206				-				-
Units redeemed			(157	)			(1,909	)			(13,226	)			(1,970	)			-				(111	)
Net increase (decrease)			4,477				(1,355	)			(13,171	)			236				0				(111	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		INVESCO V.I. GROWTH & INCOME FUND								INVESCO V.I. HIGH YIELD FUND								INVESCO V.I. INTERNATIONAL GROWTH FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		8,209		$		4,184		$		6,937		$		6,415		$		8,142		$		3,607
Net realized gain (loss) on investments			(45,698	)			451				(323	)			5,795				4,717				33,283
Change in net unrealized appreciation (depreciation) on investments			10,513				228,931				(3,118	)			7,584				40,303				74,564
Increase (decrease) in net assets resulting from operations			(26,976	)			233,566				3,496				19,794				53,161				111,454
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				5,399				-				-
Transfers for contract benefits and terminations			(136,410	)			(37,484	)			(340	)			(22,256	)			(2,800	)			(12,923	)
Net transfers			(23	)			(818,515	)			423				(41,088	)			(28,912	)			3,309
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(136,433	)			(855,999	)			83				(57,945	)			(31,712	)			(9,614	)
Total increase (decrease) in net assets			(163,409	)			(622,433	)			3,579				(38,151	)			21,449				101,840
NET ASSETS:
Beginning of period			702,703				1,325,136				130,666				168,817				507,189				405,349
End of period	$		539,294		$		702,703		$		134,245		$		130,666		$		528,638		$		507,189
CHANGES IN UNITS OUTSTANDING:
Units issued			-				271				64				483				1,343				1,578
Units redeemed			(7,230	)			(50,599	)			(56	)			(3,444	)			(3,762	)			(2,170	)
Net increase (decrease)			(7,230	)			(50,328	)			8				(2,961	)			(2,419	)			(592	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		INVESCO V.I. MID CAP CORE EQUITY FUND								INVESCO V.I. SMALL CAP EQUITY FUND								INVESCO V.I. TECHNOLOGY FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		188		$		(190	)	$		(142	)	$		(666	)	$		(1,750	)	$		(2,046	)
Net realized gain (loss) on investments			16,410				7,733				7,828				4,663				39,700				63,835
Change in net unrealized appreciation (depreciation) on investments			(8,794	)			9,901				16,469				18,065				76,506				13,418
Increase (decrease) in net assets resulting from operations			7,804				17,444				24,154				22,062				114,456				75,207
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				-				-
Transfers for contract benefits and terminations			-				-				-				-				(20,000	)			(31,998	)
Net transfers			21,838				(7,178	)			97				(36,822	)			22,134				(81,886	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			21,838				(7,178	)			97				(36,822	)			2,134				(113,884	)
Total increase (decrease) in net assets			29,642				10,266				24,252				(14,760	)			116,590				(38,677	)
NET ASSETS:
Beginning of period			85,052				74,786				91,699				106,459				235,463				274,140
End of period	$		114,694		$		85,052		$		115,951		$		91,699		$		352,053		$		235,463
CHANGES IN UNITS OUTSTANDING:
Units issued			815				-				4				37				1,301				-
Units redeemed			-				(314	)			-				(3,104	)			(2,166	)			(14,849	)
Net increase (decrease)			815				(314	)			4				(3,067	)			(865	)			(14,849	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		IVY VIP INTERNATIONAL CORE EQUITY							JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES							JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES
		2020				2019			2020			2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		11,687		$		5,389	$		4,647	$		3,185		$		69,040		$		28,801
Net realized gain (loss) on investments			(42,974	)			40,487			2,242			144,836				490,370				97,313
Change in net unrealized appreciation (depreciation) on investments			20,143				4,353			26,839			(50,440	)			(5,737	)			399,714
Increase (decrease) in net assets resulting from operations			(11,144	)			50,229			33,727			97,581				553,674				525,828
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				38,477			-			-				708,569				524,870
Transfers for contract benefits and terminations			(47	)			-			-			(289,080	)			(62,082	)			(43,217	)
Net transfers			(474,980	)			466,312			51,330			(88,163	)			(420,826	)			20,910
Contract maintenance charges			-				-			-			-				-				-
Adjustments to net assets allocated to contracts in payout phase			-							-							-
Other, net			-				-			-			-				-				-
Increase (decrease) in net assets resulting from contract transactions			(475,027	)			504,789			51,330			(377,243	)			225,661				502,563
Total increase (decrease) in net assets			(486,171	)			555,018			85,057			(279,662	)			779,335				1,028,391
NET ASSETS:
Beginning of period			645,933				90,915			226,294			505,956				3,344,237				2,315,846
End of period	$		159,762		$		645,933	$		311,351	$		226,294		$		4,123,572		$		3,344,237
CHANGES IN UNITS OUTSTANDING:
Units issued			159				50,237			3,097			807				432,631				41,744
Units redeemed			(46,422	)			-			-			(11,568	)			(409,789	)			(5,898	)
Net increase (decrease)			(46,263	)			50,237			3,097			(10,761	)			22,841				35,846

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES								JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES								JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		55,558		$		56,801		$		27,094		$		36,389		$		1,534		$		1,168
Net realized gain (loss) on investments			4,650				207				1,394				(6,354	)			50,368				43,045
Change in net unrealized appreciation (depreciation) on investments			148,508				106,212				106,452				131,073				64,709				95,017
Increase (decrease) in net assets resulting from operations			208,716				163,220				134,940				161,108				116,611				139,230
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				1,560				5,910				-				13,500
Transfers for contract benefits and terminations			(169,893	)			(75,373	)			(150,798	)			(297,892	)			(68,319	)			(17,078	)
Net transfers			(17,777	)			351,827				(167,229	)			(148,065	)			65,602				(12,446	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								503
Other, net			-				-				-				-				-				(1,282	)
Increase (decrease) in net assets resulting from contract transactions			(187,670	)			276,454				(316,467	)			(440,047	)			(2,214	)			(17,306	)
Total increase (decrease) in net assets			21,046				439,674				(181,527	)			(278,939	)			114,397				121,924
NET ASSETS:
Beginning of period			2,262,209				1,822,535				1,699,641				1,978,580				623,185				501,261
End of period	$		2,283,255		$		2,262,209		$		1,518,114		$		1,699,641		$		737,582		$		623,185
CHANGES IN UNITS OUTSTANDING:
Units issued			1,702				31,628				10,708				24,750				4,365				1,877
Units redeemed			(13,399	)			(5,549	)			(29,672	)			(52,352	)			(3,452	)			(2,810	)
Net increase (decrease)			(11,697	)			26,079				(18,965	)			(27,602	)			914				(933	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES								JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES								JANUS HENDERSON OVERSEAS PORTFOLIO INSTITUTIONAL SHARES
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(747	)	$		20		$		(1,435	)	$		(358	)	$		340		$		435
Net realized gain (loss) on investments			12,433				27,102				28,663				66,762				(242	)			(2,164	)
Change in net unrealized appreciation (depreciation) on investments			56,425				25,893				110,324				32,709				7,138				13,393
Increase (decrease) in net assets resulting from operations			68,111				53,015				137,552				99,113				7,236				11,664
CONTRACT TRANSACTIONS:
Proceeds from units sold			18,845				4,204				1,500				58,753				-				-
Transfers for contract benefits and terminations			(296	)			(1,010	)			-				(1,186	)			(708	)			(13,316	)
Net transfers			85,654				(108,333	)			102,937				(162,657	)			(2	)			(6,672	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			104,203				(105,139	)			104,437				(105,090	)			(710	)			(19,988	)
Total increase (decrease) in net assets			172,314				(52,124	)			241,989				(5,977	)			6,526				(8,324	)
NET ASSETS:
Beginning of period			107,484				159,608				247,659				253,636				48,377				56,701
End of period	$		279,798		$		107,484		$		489,648		$		247,659		$		54,903		$		48,377
CHANGES IN UNITS OUTSTANDING:
Units issued			3,061				177				4,194				7,067				-				-
Units redeemed			(129	)			(4,777	)			(1,175	)			(11,167	)			(27	)			(822	)
Net increase (decrease)			2,931				(4,600	)			3,019				(4,100	)			(27	)			(822	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES								JANUS HENDERSON VIT RESEARCH PORTFOLIO								JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,071		$		2,451		$		(259	)	$		(1,213	)	$		108		$		(124	)
Net realized gain (loss) on investments			2,796				5,173				33,071				36,560				1,660				3,563
Change in net unrealized appreciation (depreciation) on investments			25,130				46,145				74,477				53,591				2,350				2,904
Increase (decrease) in net assets resulting from operations			28,997				53,769				107,289				88,938				4,118				6,343
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				-				-
Transfers for contract benefits and terminations			(6,278	)			(76,856	)			(5,712	)			(5,600	)			(314	)			(293	)
Net transfers			15,023				(21,011	)			(15	)			-				(1	)			-
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			8,745				(97,867	)			(5,728	)			(5,600	)			(316	)			(293	)
Total increase (decrease) in net assets			37,742				(44,098	)			101,561				83,338				3,802				6,050
NET ASSETS:
Beginning of period			168,142				212,240				342,579				259,241				33,104				27,054
End of period	$		205,884		$		168,142		$		444,140		$		342,579		$		36,906		$		33,104
CHANGES IN UNITS OUTSTANDING:
Units issued			2,417				1,674				-				-				-				-
Units redeemed			(1,393	)			(10,985	)			(129	)			(131	)			(25	)			(22	)
Net increase (decrease)			1,024				(9,311	)			(129	)			(131	)			(25	)			(22	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		LAZARD RETIREMENT EMERGING     MARKETS EQUITY PORTFOLIO								LORD ABBETT SHORT DURATION     INCOME PORTFOLIO							LVIP BARON GROWTH       OPPORTUNITIES FUND
		2020				2019				2020				2019			2020				2019
										(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		16,313		$		722		$		344		$		-	$		(7,957	)	$		(11,413	)
Net realized gain (loss) on investments			5,571				(8,477	)			(23	)			-			153,979				87,973
Change in net unrealized appreciation (depreciation) on investments			(27,418	)			152,913				(65	)			-			274,296				315,336
Increase (decrease) in net assets resulting from operations			(5,534	)			145,158				255				-			420,318				391,896
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				13,643				-			109,180				-
Transfers for contract benefits and terminations			(39,593	)			(193,363	)			(11	)			-			(170,347	)			(99,319	)
Net transfers			40,851				(76,161	)			(1	)			-			(114,470	)			40,531
Contract maintenance charges			-				-				-				-			-				-
Adjustments to net assets allocated to contracts in payout phase			-								-							3,328
Other, net			-				-				-				-			-				239
Increase (decrease) in net assets resulting from contract transactions			1,258				(269,524	)			13,631				-			(172,310	)			(58,549	)
Total increase (decrease) in net assets			(4,276	)			(124,366	)			13,887				-			248,008				333,347
NET ASSETS:
Beginning of period			917,118				1,041,484				-				-			1,496,812				1,163,465
End of period	$		912,842		$		917,118		$		13,887		$		-	$		1,744,820		$		1,496,812
CHANGES IN UNITS OUTSTANDING:
Units issued			5,163				4,398				1,319				-			7,790				3,336
Units redeemed			(4,491	)			(23,809	)			(2	)			-			(6,580	)			(3,657	)
Net increase (decrease)			673				(19,411	)			1,317				0			1,209				(321	)
	(1)   For the period of July 22, 2020 to December 31, 2020.

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		MFS VIT UTILITIES SERIES								MFS VIT II INTERNATIONAL INTRINSIC VALUE PORTFOLIO								MFS VIT III MID CAP VALUE     PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		7,292		$		15,211		$		3,154		$		8,989		$		1,786		$		1,759
Net realized gain (loss) on investments			13,036				21,571				89,668				125,607				6,526				18,167
Change in net unrealized appreciation (depreciation) on investments			327				58,715				119,257				211,067				(1,589	)			37,343
Increase (decrease) in net assets resulting from operations			20,655				95,497				212,079				345,663				6,723				57,269
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				4,204				65,874				5,399				-				-
Transfers for contract benefits and terminations			(600	)			(97,632	)			(234,247	)			(55,668	)			(7,482	)			(8,124	)
Net transfers			(26,110	)			82,494				(81,246	)			(415,010	)			(3,059	)			-
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(26,710	)			(10,934	)			(249,619	)			(465,279	)			(10,541	)			(8,124	)
Total increase (decrease) in net assets			(6,054	)			84,563				(37,540	)			(119,616	)			(3,818	)			49,145
NET ASSETS:
Beginning of period			451,790				367,227				1,469,971				1,589,587				240,548				191,403
End of period	$		445,736		$		451,790		$		1,432,431		$		1,469,971		$		236,730		$		240,548
CHANGES IN UNITS OUTSTANDING:
Units issued			-				10,178				6,883				3,622				-				-
Units redeemed			(1,382	)			(7,922	)			(14,087	)			(26,665	)			(908	)			(728	)
Net increase (decrease)			(1,382	)			2,256				(7,205	)			(23,043	)			(908	)			(728	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		MORGAN STANLEY VIF U.S. REAL     ESTATE PORTFOLIO								NEUBERGER BERMAN AMT MID CAP   INTRINSIC VALUE PORTFOLIO								NVIT MID CAP INDEX FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		9,737		$		8,664		$		(11	)	$		(98	)	$		3,797		$		4,204
Net realized gain (loss) on investments			40,921				135,702				2,089				1,628				(27,079	)			106,823
Change in net unrealized appreciation (depreciation) on investments			(156,233	)			(10,293	)			(2,773	)			645				108,089				85,623
Increase (decrease) in net assets resulting from operations			(105,576	)			134,073				(695	)			2,175				84,808				196,650
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				115,712				7,134
Transfers for contract benefits and terminations			(59,521	)			(88,569	)			-				-				(5,178	)			(301,791	)
Net transfers			(28,087	)			(144,446	)			(14,823	)			-				(114,610	)			188,919
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								(407	)
Other, net			-				-				-				-				-				(554	)
Increase (decrease) in net assets resulting from contract transactions			(87,608	)			(233,015	)			(14,823	)			-				(4,483	)			(106,292	)
Total increase (decrease) in net assets			(193,183	)			(98,942	)			(15,518	)			2,175				80,324				90,358
NET ASSETS:
Beginning of period			681,027				779,969				16,254				14,079				1,060,384				970,026
End of period	$		487,844		$		681,027		$		736		$		16,254		$		1,140,708		$		1,060,384
CHANGES IN UNITS OUTSTANDING:
Units issued			546				285				-				-				10,104				18,167
Units redeemed			(2,170	)			(4,630	)			(813	)			-				(13,067	)			(19,968	)
Net increase (decrease)			(1,624	)			(4,345	)			(813	)			0				(2,962	)			(1,801	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		PIMCO VIT COMMODITY REAL      RETURN STRATEGY PORTFOLIO								PIMCO VIT EMERGING MARKETS      BOND PORTFOLIO								PIMCO VIT HIGH YIELD PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		6,679		$		4,624		$		3,949		$		795		$		77,191		$		58,193
Net realized gain (loss) on investments			(2,983	)			(522	)			(125	)			(3	)			(6,221	)			936
Change in net unrealized appreciation (depreciation) on investments			(1,577	)			7,855				1,670				1,860				17,602				96,088
Increase (decrease) in net assets resulting from operations			2,120				11,957				5,494				2,652				88,571				155,217
CONTRACT TRANSACTIONS:
Proceeds from units sold			2,508				-				-				-				11,427				847,157
Transfers for contract benefits and terminations			(1,572	)			(7,119	)			-				-				(2,626	)			(227,363	)
Net transfers			1,212				8,010				75,030				(393	)			14,916				76,102
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				2,515
Increase (decrease) in net assets resulting from contract transactions			2,148				891				75,030				(393	)			23,717				698,411
Total increase (decrease) in net assets			4,268				12,848				80,524				2,259				112,288				853,628
NET ASSETS:
Beginning of period			123,338				110,490				21,111				18,852				1,773,163				919,535
End of period	$		127,606		$		123,338		$		101,635		$		21,111		$		1,885,451		$		1,773,163
CHANGES IN UNITS OUTSTANDING:
Units issued			2,048				1,371				6,661				-				3,053				75,998
Units redeemed			(1,496	)			(1,229	)			(1	)			(37	)			(2,011	)			(12,360	)
Net increase (decrease)			553				142				6,660				(37	)			1,042				63,638

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		PIMCO VIT LOW DURATION         PORTFOLIO								PIMCO VIT REAL RETURN PORTFOLIO								PIMCO VIT TOTAL RETURN         PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		20,778		$		62,164		$		2,016		$		1,340		$		76,487		$		98,774
Net realized gain (loss) on investments			(24,069	)			(17,340	)			(197	)			31				88,798				(29,405	)
Change in net unrealized appreciation (depreciation) on investments			73,812				52,568				18,800				8,505				212,076				231,566
Increase (decrease) in net assets resulting from operations			70,521				97,392				20,619				9,876				377,361				300,935
CONTRACT TRANSACTIONS:
Proceeds from units sold			114,533				-				73,420				-				172,012				132,251
Transfers for contract benefits and terminations			(447,820	)			(317,357	)			(201	)			(2,058	)			(411,591	)			(597,075	)
Net transfers			247,255				502,947				851				(419	)			(147,836	)			868,547
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								2,093
Other, net			-				-				-				-				-				(1,051	)
Increase (decrease) in net assets resulting from contract transactions			(86,032	)			185,590				74,070				(2,477	)			(385,322	)			402,672
Total increase (decrease) in net assets			(15,511	)			282,982				94,690				7,399				(7,961	)			703,607
NET ASSETS:
Beginning of period			3,316,436				3,033,454				136,432				129,033				4,829,817				4,126,210
End of period	$		3,300,925		$		3,316,436		$		231,122		$		136,432		$		4,821,856		$		4,829,817
CHANGES IN UNITS OUTSTANDING:
Units issued			40,700				45,829				6,788				-				39,687				83,060
Units redeemed			(44,834	)			(27,579	)			(18	)			(239	)			(66,483	)			(45,729	)
Net increase (decrease)			(4,133	)			18,250				6,770				(239	)			(26,796	)			37,331

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

		INVESTMENT DIVISIONS
		PIONEER FUND VCT PORTFOLIO								PIONEER MID CAP VALUE VCT     PORTFOLIO								PIONEER SELECT MID CAP GROWTH     VCT PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,553		$		1,353		$		212		$		303		$		(1,109	)	$		(1,700	)
Net realized gain (loss) on investments			41,320				(6,837	)			(8,522	)			12,370				17,023				40,496
Change in net unrealized appreciation (depreciation) on investments			91,884				78,643				(1,591	)			23,847				54,850				24,376
Increase (decrease) in net assets resulting from operations			134,757				73,159				(9,900	)			36,520				70,764				63,172
CONTRACT TRANSACTIONS:
Proceeds from units sold			60				60				-				-				-				-
Transfers for contract benefits and terminations			(8,221	)			(2,934	)			-				-				1,497				(114,197	)
Net transfers			49,249				319,441				(29,046	)			(7,854	)			13,340				24,396
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								(679	)
Other, net			-				-				-				-				-				(596	)
Increase (decrease) in net assets resulting from contract transactions			41,088				316,567				(29,046	)			(7,854	)			14,158				(90,397	)
Total increase (decrease) in net assets			175,845				389,726				(38,947	)			28,666				84,922				(27,225	)
NET ASSETS:
Beginning of period			535,400				145,674				167,149				138,483				188,497				215,722
End of period	$		711,245		$		535,400		$		128,202		$		167,149		$		273,419		$		188,497
CHANGES IN UNITS OUTSTANDING:
Units issued			2,955				18,939				1,228				355				616				1,276
Units redeemed			(830	)			(2,310	)			(3,273	)			(801	)			(622	)			(6,774	)
Net increase (decrease)			2,125				16,629				(2,045	)			(446	)			(6	)			(5,498	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		PRUDENTIAL SERIES FUND EQUITY     PORTFOLIO								PRUDENTIAL SERIES FUND NATURAL     RESOURCES PORTFOLIO								PUTNAM VT EQUITY INCOME FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(903	)	$		(1,538	)	$		(90	)	$		(140	)	$		9,005		$		9,578
Net realized gain (loss) on investments			19,424				5,426				(108	)			(58	)			71,770				68,129
Change in net unrealized appreciation (depreciation) on investments			20,159				39,110				2,015				1,622				(57,656	)			116,967
Increase (decrease) in net assets resulting from operations			38,680				42,998				1,817				1,424				23,119				194,674
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				70,649				8,408
Transfers for contract benefits and terminations			(53,524	)			(4,454	)			-				-				(105,575	)			(18,288	)
Net transfers			1,658				(10,453	)			(0	)			-				(234,761	)			193,684
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(51,866	)			(14,907	)			(0	)			-				(269,687	)			183,804
Total increase (decrease) in net assets			(13,187	)			28,091				1,816				1,424				(246,567	)			378,478
NET ASSETS:
Beginning of period			191,560				163,469				16,710				15,286				1,003,200				624,722
End of period	$		178,373		$		191,560		$		18,526		$		16,710		$		756,633		$		1,003,200
CHANGES IN UNITS OUTSTANDING:
Units issued			50				-				-				-				7,305				13,756
Units redeemed			(1,974	)			(616	)			-				-				(20,794	)			(1,892	)
Net increase (decrease)			(1,924	)			(616	)			0				0				(13,489	)			11,864

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		PUTNAM VT GLOBAL ASSET ALLOCATION FUND						PUTNAM VT GLOBAL HEALTH CARE FUND								PUTNAM VT INCOME FUND
		2020			2019			2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		2,392	$		604	$		(473	)	$		(4,075	)	$		18,205		$		5,804
Net realized gain (loss) on investments			2,574			2,556			5,097				(24,731	)			3,646				1,569
Change in net unrealized appreciation (depreciation) on investments			13,162			13,317			55,500				152,984				(1,132	)			13,032
Increase (decrease) in net assets resulting from operations			18,128			16,477			60,124				124,178				20,719				20,405
CONTRACT TRANSACTIONS:
Proceeds from units sold			1,493			58,754			51,988				-				31,560				-
Transfers for contract benefits and terminations			-			-			(72,137	)			(111,908	)			(2,300	)			(20,171	)
Net transfers			-			-			(19,316	)			6,150				191,507				14,701
Contract maintenance charges			-			-			-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-						-								-
Other, net			-			-			-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			1,493			58,754			(39,465	)			(105,758	)			220,767				(5,470	)
Total increase (decrease) in net assets			19,621			75,231			20,659				18,420				241,485				14,935
NET ASSETS:
Beginning of period			152,573			77,342			509,383				490,963				200,820				185,885
End of period	$		172,194	$		152,573	$		530,042		$		509,383		$		442,305		$		200,820
CHANGES IN UNITS OUTSTANDING:
Units issued			116			4,780			16,430				812				20,377				1,732
Units redeemed			-			-			(17,937	)			(5,771	)			(1,281	)			(2,314	)
Net increase (decrease)			116			4,780			(1,507	)			(4,959	)			19,096				(582	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		PUTNAM VT INTERNATIONAL VALUE FUND								PUTNAM VT MORTGAGE SECURITIES FUND								PUTNAM VT MULTI-CAP CORE FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,616		$		1,891		$		58,397		$		7,276		$		263		$		631
Net realized gain (loss) on investments			158				4,907				(10,184	)			(558	)			5,031				8,538
Change in net unrealized appreciation (depreciation) on investments			2,705				5,984				(64,779	)			58,677				22,438				13,489
Increase (decrease) in net assets resulting from operations			4,479				12,782				(16,567	)			65,395				27,732				22,658
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				60,529				-
Transfers for contract benefits and terminations			-				(15,711	)			(95,281	)			(7,030	)			(33,762	)			-
Net transfers			(6,786	)			(61	)			10,287				164,827				17,306				-
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(6,786	)			(15,772	)			(84,994	)			157,797				44,074				-
Total increase (decrease) in net assets			(2,307	)			(2,990	)			(101,561	)			223,192				71,806				22,658
NET ASSETS:
Beginning of period			67,649				70,639				707,872				484,680				95,209				72,551
End of period	$		65,342		$		67,649		$		606,311		$		707,872		$		167,015		$		95,209
CHANGES IN UNITS OUTSTANDING:
Units issued			923				176				1,818				23,618				6,266				-
Units redeemed			(1,344	)			(1,719	)			(9,011	)			(9,888	)			(3,496	)			-
Net increase (decrease)			(421	)			(1,543	)			(7,193	)			13,730				2,770				0

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO								SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO								SCHWAB S&P 500 INDEX PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		292		$		(296	)	$		(26,857	)	$		91,883		$		117,139		$		207,799
Net realized gain (loss) on investments			(4,966	)			11,722				(17,354	)			-				1,340,477				3,814,475
Change in net unrealized appreciation (depreciation) on investments			5,176				5,015				(91	)			-				1,908,531				1,417,137
Increase (decrease) in net assets resulting from operations			502				16,441				(44,303	)			91,883				3,366,147				5,439,411
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				1,997,180				7,313,700				1,171,999				1,037,783
Transfers for contract benefits and terminations			-				(23,642	)			(3,087,776	)			(4,514,894	)			(1,633,846	)			(1,342,012	)
Net transfers			7,869				-				2,621,133				(3,176,239	)			(2,654,591	)			(1,594,243	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								35,898								9,150
Other, net			-				-				-				(123,628	)			-				3,322
Increase (decrease) in net assets resulting from contract transactions			7,869				(23,642	)			1,566,435				(501,061	)			(3,107,288	)			(1,895,150	)
Total increase (decrease) in net assets			8,371				(7,201	)			1,522,132				(409,178	)			258,859				3,544,261
NET ASSETS:
Beginning of period			91,485				98,686				7,891,692				8,300,870				22,536,674				18,992,413
End of period	$		99,856		$		91,485		$		9,413,824		$		7,891,692		$		22,795,533		$		22,536,674
CHANGES IN UNITS OUTSTANDING:
Units issued			1,197				-				2,218,530				1,380,548				377,211				314,588
Units redeemed			(546	)			(938	)			(2,046,721	)			(1,432,810	)			(524,168	)			(282,574	)
Net increase (decrease)			652				(938	)			171,810				(52,262	)			(146,957	)			32,014

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		SCHWAB VIT BALANCED PORTFOLIO							SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO								SCHWAB VIT GROWTH PORTFOLIO
		2020				2019			2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		1,345		$		2,520	$		7,526		$		6,589		$		2,684		$		2,093
Net realized gain (loss) on investments			(10,322	)			331			848				3,074				25,336				1,305
Change in net unrealized appreciation (depreciation) on investments			(3,345	)			14,808			42,968				74,835				(8,077	)			34,375
Increase (decrease) in net assets resulting from operations			(12,322	)			17,659			51,342				84,498				19,942				37,773
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-			-				-				-				5,399
Transfers for contract benefits and terminations			(4,260	)			-			(2,585	)			(3,643	)			(185,908	)			(38,475	)
Net transfers			(89,322	)			96,359			(18	)			(15,000	)			(71	)			-
Contract maintenance charges			-				-			-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-							-								-
Other, net			-				-			-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(93,582	)			96,359			(2,603	)			(18,643	)			(185,979	)			(33,076	)
Total increase (decrease) in net assets			(105,904	)			114,018			48,739				65,855				(166,036	)			4,697
NET ASSETS:
Beginning of period			204,788				90,770			563,431				497,576				207,904				203,207
End of period	$		98,884		$		204,788	$		612,170		$		563,431		$		41,868		$		207,904
CHANGES IN UNITS OUTSTANDING:
Units issued			3,738				8,453			-				-				-				438
Units redeemed			(13,124	)			-			(307	)			(1,596	)			(12,771	)			(3,146	)
Net increase (decrease)			(9,386	)			8,453			(307	)			(1,596	)			(12,771	)			(2,708	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		TEMPLETON FOREIGN VIP FUND								TEMPLETON GLOBAL BOND VIP FUND								THIRD AVENUE VALUE PORTFOLIO VARIABLE SERIES
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		3,921		$		1,873		$		23,154		$		48,326		$		612		$		(218	)
Net realized gain (loss) on investments			1,714				(20,722	)			(1,501	)			(30,280	)			1,104				589
Change in net unrealized appreciation (depreciation) on investments			(8,879	)			45,972				(39,024	)			(10,442	)			(3,335	)			4,279
Increase (decrease) in net assets resulting from operations			(3,244	)			27,123				(17,371	)			7,604				(1,618	)			4,650
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				56,565				5,399				-				-
Transfers for contract benefits and terminations			(32,914	)			(161,364	)			(4,414	)			(80,443	)			-				-
Net transfers			(6	)			(8,349	)			5,949				(447,576	)			(6,041	)			(2,678	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				1,309
Increase (decrease) in net assets resulting from contract transactions			(32,920	)			(169,713	)			58,100				(522,620	)			(6,041	)			(1,369	)
Total increase (decrease) in net assets			(36,164	)			(142,590	)			40,730				(515,016	)			(7,660	)			3,281
NET ASSETS:
Beginning of period			195,041				337,631				276,169				791,185				43,103				39,822
End of period	$		158,877		$		195,041		$		316,899		$		276,169		$		35,443		$		43,103
CHANGES IN UNITS OUTSTANDING:
Units issued			-				-				6,518				1,309				-				418
Units redeemed			(2,575	)			(15,885	)			(465	)			(53,455	)			(613	)			(263	)
Net increase (decrease)			(2,575	)			(15,885	)			6,052				(52,146	)			(613	)			155

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		TOUCHSTONE VST BOND FUND								TOUCHSTONE VST COMMON STOCK FUND								TOUCHSTONE VST COMMON STOCK FUND CLASS SC
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		10,566		$		5,596		$		535		$		(587	)	$		(390	)	$		2,015
Net realized gain (loss) on investments			12,432				(81	)			(22,493	)			(83,700	)			32,726				20,559
Change in net unrealized appreciation (depreciation) on investments			68,670				82,349				52,658				153,880				48,081				64,651
Increase (decrease) in net assets resulting from operations			91,668				87,864				30,699				69,593				80,417				87,225
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				-				-				-				-
Transfers for contract benefits and terminations			(158,146	)			(16,196	)			(73,192	)			(15,570	)			(7,255	)			(6,530	)
Net transfers			36,854				37,070				61,651				(44,752	)			(169,903	)			4,482
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(121,293	)			20,874				(11,541	)			(60,322	)			(177,158	)			(2,048	)
Total increase (decrease) in net assets			(29,625	)			108,738				19,159				9,271				(96,741	)			85,177
NET ASSETS:
Beginning of period			1,040,114				931,376				294,179				284,908				415,217				330,040
End of period	$		1,010,489		$		1,040,114		$		313,338		$		294,179		$		318,476		$		415,217
CHANGES IN UNITS OUTSTANDING:
Units issued			3,079				12,834				1,481				114				625				145
Units redeemed			(11,190	)			(11,530	)			(2,562	)			(1,997	)			(9,956	)			(334	)
Net increase (decrease)			(8,112	)			1,304				(1,081	)			(1,883	)			(9,331	)			(189	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		TOUCHSTONE VST SMALL FUND								T. ROWE PRICE HEALTH SCIENCES PORTFOLIO								T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(515	)	$		(1,174	)	$		(948	)	$		(334	)	$		(834	)	$		(764	)
Net realized gain (loss) on investments			(848	)			18,649				17,938				5,083				16,270				7,246
Change in net unrealized appreciation (depreciation) on investments			24,822				13,946				45,919				14,109				45,073				11,234
Increase (decrease) in net assets resulting from operations			23,460				31,421				62,910				18,858				60,509				17,716
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-				128,853				-				-				-
Transfers for contract benefits and terminations			(27,498	)			(10,632	)			(3,441	)			(684	)			-				-
Net transfers			(11,056	)			(5,396	)			9,555				71,790				80,407				120,604
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(38,554	)			(16,028	)			134,967				71,106				80,407				120,604
Total increase (decrease) in net assets			(15,093	)			15,393				197,876				89,964				140,916				138,320
NET ASSETS:
Beginning of period			175,663				160,270				119,962				29,998				152,907				14,587
End of period	$		160,570		$		175,663		$		317,838		$		119,962		$		293,823		$		152,907
CHANGES IN UNITS OUTSTANDING:
Units issued			138				131				6,522				4,116				3,864				7,119
Units redeemed			(1,185	)			(589	)			(209	)			(38	)			-				(281	)
Net increase (decrease)			(1,047	)			(458	)			6,313				4,078				3,864				6,838

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

	INVESTMENT DIVISIONS
		VANGUARD VIF CAPITAL GROWTH     PORTFOLIO								VANGUARD VIF DIVERSIFIED VALUE     PORTFOLIO								VANGUARD VIF MID-CAP INDEX     PORTFOLIO
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		3,906		$		944		$		2,575		$		3,089		$		5,725		$		4,159
Net realized gain (loss) on investments			13,934				5,516				20,316				6,353				81,987				32,988
Change in net unrealized appreciation (depreciation) on investments			64,072				29,875				671				12,336				42,835				50,506
Increase (decrease) in net assets resulting from operations			81,911				36,335				23,562				21,778				130,546				87,653
CONTRACT TRANSACTIONS:
Proceeds from units sold			432,109				-				83,821				61,563				51,268				83,175
Transfers for contract benefits and terminations			(5,161	)			(4,210	)			(313	)			(8,593	)			(424,355	)			(12,593	)
Net transfers			(8,362	)			7,544				(2,061	)			(5,000	)			215,768				194,670
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			418,586				3,334				81,447				47,970				(157,318	)			265,252
Total increase (decrease) in net assets			500,497				39,669				105,009				69,748				(26,773	)			352,905
NET ASSETS:
Beginning of period			177,037				137,368				132,133				62,385				541,754				188,849
End of period	$		677,534		$		177,037		$		237,142		$		132,133		$		514,981		$		541,754
CHANGES IN UNITS OUTSTANDING:
Units issued			21,312				640				5,882				4,842				28,615				19,075
Units redeemed			(863	)			(429	)			(177	)			(1,087	)			(34,927	)			(923	)
Net increase (decrease)			20,449				211				5,705				3,755				(6,312	)			18,152

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

		INVESTMENT DIVISIONS
		VANGUARD VIF REAL ESTATE INDEX PORTFOLIO								VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO								VAN ECK VIP GLOBAL HARD ASSETS FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		6,090		$		6,181		$		743		$		(125	)	$		200		$		(581	)
Net realized gain (loss) on investments			(1,955	)			13,255				28,865				29,085				(22,805	)			(10,283	)
Change in net unrealized appreciation (depreciation) on investments			(17,819	)			30,785				47,505				29,317				43,838				15,666
Increase (decrease) in net assets resulting from operations			(13,683	)			50,221				77,114				58,277				21,233				4,802
CONTRACT TRANSACTIONS:
Proceeds from units sold			49,743				45,086				39,308				15,003				-				-
Transfers for contract benefits and terminations			(102,760	)			(18,373	)			(1,796	)			(11,314	)			(26,825	)			(12,612	)
Net transfers			15,844				84,922				7,677				2,955				11,946				54,957
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			-								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			(37,173	)			111,635				45,189				6,644				(14,879	)			42,345
Total increase (decrease) in net assets			(50,857	)			161,856				122,302				64,921				6,354				47,147
NET ASSETS:
Beginning of period			288,543				126,687				274,119				209,198				103,550				56,403
End of period	$		237,686		$		288,543		$		396,421		$		274,119		$		109,904		$		103,550
CHANGES IN UNITS OUTSTANDING:
Units issued			10,812				9,818				2,986				1,398				2,622				6,624
Units redeemed			(13,203	)			(1,654	)			(129	)			(961	)			(3,704	)			(2,281	)
Net increase (decrease)			(2,391	)			8,164				2,858				437				(1,082	)			4,343

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

		INVESTMENT DIVISIONS
		VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND								WELLS FARGO VT DISCOVERY FUND								WELLS FARGO VT OMEGA GROWTH FUND
		2020				2019				2020				2019				2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		9,997		$		(1,058	)	$		(829	)	$		(625	)	$		(592	)	$		(720	)
Net realized gain (loss) on investments			(4,853	)			(417	)			9,496				9,369				9,977				16,751
Change in net unrealized appreciation (depreciation) on investments			14,673				25,388				71,107				7,954				32,645				13,497
Increase (decrease) in net assets resulting from operations			19,817				23,913				79,774				16,698				42,030				29,528
CONTRACT TRANSACTIONS:
Proceeds from units sold			137,620				-				-				-				-				-
Transfers for contract benefits and terminations			(47,654	)			(2,569	)			-				-				(3,699	)			-
Net transfers			(33,395	)			(3,878	)			86,938				48,794				(4	)			(17,215	)
Contract maintenance charges			-				-				-				-				-				-
Adjustments to net assets allocated to contracts in payout phase			38,764								-								-
Other, net			-				-				-				-				-				-
Increase (decrease) in net assets resulting from contract transactions			95,335				(6,447	)			86,938				48,794				(3,703	)			(17,215	)
Total increase (decrease) in net assets			115,152				17,466				166,712				65,492				38,327				12,313
NET ASSETS:
Beginning of period			222,919				205,453				96,238				30,746				99,716				87,403
End of period	$		338,071		$		222,919		$		262,950		$		96,238		$		138,043		$		99,716
CHANGES IN UNITS OUTSTANDING:
Units issued			11,270				259				3,625				1,705				-				486
Units redeemed			(6,862	)			(794	)			(7	)			-				(131	)			(1,468	)
Net increase (decrease)			4,408				(535	)			3,618				1,705				(131	)			(982	)

The accompanying notes are an integral part of these financial statements. (Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2020 AND 2019

		INVESTMENT DIVISIONS
		WELLS FARGO VT OPPORTUNITY FUND
		2020				2019
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$		(271	)	$		(839	)
Net realized gain (loss) on investments			10,771				16,661
Change in net unrealized appreciation (depreciation) on investments			18,462				23,473
Increase (decrease) in net assets resulting from operations			28,961				39,295
CONTRACT TRANSACTIONS:
Proceeds from units sold			-				-
Transfers for contract benefits and terminations			(4,841	)			(4,533	)
Net transfers			(5,675	)			(5,156	)
Contract maintenance charges			-				-
Adjustments to net assets allocated to contracts in payout phase			-
Other, net			-				2,930
Increase (decrease) in net assets resulting from contract transactions			(10,516	)			(6,759	)
Total increase (decrease) in net assets			18,446				32,536
NET ASSETS:
Beginning of period			162,260				129,724
End of period	$		180,706		$		162,260
CHANGES IN UNITS OUTSTANDING:
Units issued			-				425
Units redeemed			(425	)			(410	)
Net increase (decrease)			(425	)			15

The accompanying notes are an integral part of these financial statements. (Concluded)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

NOTES TO FINANCIAL STATEMENTS

YEAR ENDED DECEMBER 31, 2020

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

The Variable Annuity-1 Series Account (the Series Account), a separate account of Great-West Life & Annuity Insurance Company of New York (the Company), is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and exists in accordance with regulations of the New York State Department of Financial Services. It is a funding vehicle for individual variable annuity contracts. The Series Account consists of numerous investment divisions (Investment Divisions), each being treated as an individual accounting entity for financial reporting purposes, and each investing all of its investible assets in the named underlying mutual fund.

Under applicable insurance law, the assets and liabilities of each of the Investment Divisions of the Series Account are clearly identified and distinguished from the Company’s other assets and liabilities. The portion of the Series Account’s assets applicable to the reserves and other contract liabilities with respect to the Series Account is not chargeable with liabilities arising out of any other business the Company may conduct.

The outbreak of the novel strain of coronavirus, specifically identified as COVID-19, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Fund in future periods.

The preparation of financial statements and financial highlights of each of the Investment Divisions in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and financial highlights and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Series Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 “Financial Services — Investment Companies”. The following is a summary of the significant accounting policies of the Series Account.

Security Valuation

Mutual fund investments held by the Investment Divisions are valued at the reported net asset values of such underlying mutual funds, which value their investment securities at fair value.

The Series Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Series Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. Classification is based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows:

Level 1 — Unadjusted quoted prices for identical securities in active markets.

Level 2 — Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

Level 3 — Unobservable inputs to the extent observable inputs are not available and may include prices obtained

from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.

As of December 31, 2020, the only investments of each of the Investment Divisions of the Series Account were in underlying mutual funds that are actively traded, therefore 100% of the investments are valued using Level 1 inputs.

Fund of Funds Structure Risk

Since the Series Account invests directly in underlying funds, all risks associated with the eligible underlying funds apply to the Series Account. To the extent the Series Account invests more of its assets in one underlying fund than another, the Series Account will have greater exposure to the risks of the underlying fund.

Security Transactions and Investment Income

Transactions are recorded on the trade date. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date and the amounts distributed to the Investment Division for its share of dividends are reinvested in additional full and fractional shares of the related mutual funds.

Contracts in the Payout Phase

Net assets of each Investment Division allocated to contracts in payout phase are computed according to the 2000 Individual Annuitant Mortality Table. The assumed investment return is 5 percent. The mortality risk is fully borne by the Company and may result in additional amounts receivable by the series annuity account from the Company to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, amounts may be payable to the Company. Any adjustments to these amounts are reflected in Adjustments to net assets allocated to contracts in payout phase on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Federal Income Taxes

The operations of each of the Investment Divisions of the Series Account are included in the federal income tax return of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code (IRC). The Company is included in the consolidated federal tax return of Great-West Lifeco U.S. Inc. Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of each of the Investment Divisions of the Series Account to the extent the earnings are credited under the contracts. Based on this, no charge is being made currently to the Series Account for federal income taxes. The Company will periodically review the status of the federal income tax policy in the event of changes in the tax law. A charge may be made in future years for any federal income taxes that would be attributable to the contracts.

Proceeds from Units Sold

Proceeds from Units Sold from contract owners by the Company are credited as accumulation units, and are reported as Contract Transactions on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Net Transfers

Net transfers include transfers between Investment Divisions of the Series Account as well as transfers between other investment options of the Company, not included in the Series Account.

2. PURCHASES AND SALES OF INVESTMENTS

The cost of purchases and proceeds from sales of investments for the year ended December 31, 2020 were as follows:

Investment Division		Purchases			Sales
AB VPS GROWTH AND INCOME PORTFOLIO	$		138,877	$		47,818
AB VPS INTERNATIONAL GROWTH PORTFOLIO			23,795			86,230
AB VPS INTERNATIONAL VALUE PORTFOLIO			697			25,404
AB VPS LARGE CAP GROWTH PORTFOLIO			127,285			5,559
AB VPS SMALL/MID CAP VALUE PORT FOLIO			25,552			133,652
ALGER CAPITAL APPRECIATION PORTFOLIO			87,088			19,471
ALGER LARGE CAP GROWTH PORTFOLIO			1,461,749			1,698,373
ALGER MID CAP GROWTH PORTFOLIO			658,299			666,820
ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO			-			69
AMERICAN CENTURY INVESTMENTS VP BALANCED FUND			130,923			448,370
AMERICAN CENTURY VP DISCIPLINED CORE VALUE FUND I			140,612			43,248
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND			28,567			3,278
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND			31,883			45,291
AMERICAN CENTURY INVESTMENTS VP VALUE FUND			217,966			161,497
AMERICAN FUNDS IS BOND FUND			44,603			62
AMERICAN FUNDS IS GLOBAL GROWTH FUND			45,836			44,333
AMERICAN FUNDS IS GROWTH-INCOME FUND			81,151			1,029
AMERICAN FUNDS IS INTERNATIONAL FUND			9			17
AMERICAN FUNDS IS NEW WORLD FUND			89,586			38,747
BLACKROCK GLOBAL ALLOCATION VI FUND			11,386			193,980
BNY MELLON VIF APPRECIATION PORTFOLIO			68,464			173,062
BNY MELLON VIF GROWTH AND INCOME PORTFOLIO			22,183			88,968
BNY MELLON IP MIDCAP STOCK PORTFOLIO			5,086			19,537
CLEARBRIDGE VARIABLE LARGE CAP GROWTH PORTFOLIO			143,929			363.01
CLEARBRIDGE VARIABLE MID CAP PORTFOLIO			25,932			2,710
CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO			9,647			4,691
COLUMBIA VARIABLE PORTFOLIO - EMERGING MARKETS FUND			11,307			-
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND			0			51,653
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND			404,748			183,892
COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND			3,381			545
DELAWARE VIP EMERGING MARKETS SERIES			83,324			136,076
DELAWARE VIP INTERNATIONAL SERIES			88,384			-
DELAWARE VIP INTERNATIONAL VALUE EQUITY SERIES			64,675			85,340
DELAWARE VIP SMALL CAP VALUE SERIES			81,199			107,702
DELAWARE VIP SMID CAP CORE SERIES			31,319			79,306
DELAWARE VIP VALUE SERIES			128,506			14,843
DIMENSIONAL VA US TARGETED VALUE PORTFOLIO			15,919			7,338
DWS CAPITAL GROWTH VIP			387,430			138,582
DWS CORE EQUITY VIP			113,401			66,580
DWS CROCI® U.S. VIP			14,648			69,679
DWS GLOBAL SMALL CAP VIP			473			284
DWS SMALL CAP INDEX VIP			618,977			775,650
DWS SMALL MID CAP GROWTH VIP			1,250			68
DWS SMALL MID CAP VALUE VIP			12,170			6,900
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II			3,892,666			3,558,034

Investment Division		Purchases			Sales
FEDERATED HERMES MANAGED VOLATILITY FUND II	$		2,205	$		13,838
FRANKLIN SMALL CAP VALUE VIP FUND			102,167			83,035
GREAT-WEST AGGRESSIVE PROFILE FUND			1,066,538			1,218,584
GREAT-WEST BOND INDEX FUND			1,402,302			993,207
GREAT-WEST CONSERVATIVE PROFILE FUND			766,480			50,803
GREAT-WEST INTERNATIONAL INDEX FUND			133,467			70
GREAT-WEST LIFETIME 2015 FUND			43,891			121
GREAT-WEST LIFETIME 2020 FUND			56,545			157
GREAT-WEST LIFETIME 2025 FUND			40,995			114
GREAT-WEST LIFETIME 2030 FUND			18,991			53
GREAT-WEST MID CAP VALUE FUND			3,166			4,079
GREAT-WEST MODERATE PROFILE FUND			602,078			452,073
GREAT-WEST MODERATELY AGGRESSIVE PROFILE FUND			3,106			3,108
GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND			734,434			38,323
GREAT-WEST MULTI- SECTOR BOND FUND			231,480			78,679
GREAT-WEST REAL ESTATE INDEX FUND			873			366
GREAT-WEST SECUREFOUNDATION® BALANCED FUND			1,763,248			1,349,928
GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND			33,705			189,329
INVESCO OPPENHEIMER V.I. GLOBAL FUND			79,602			130,627
INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH FUND			2,627			53,626
INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP FUND			77,682			2,769
INVESCO V.I. COMSTOCK FUND			1,159			217,486
INVESCO V.I. CORE EQUITY FUND			0			709
INVESCO V.I. GROWTH & INCOME FUND			-			139,490
INVESCO V.I. HIGH YIELD FUND			708			1,217
INVESCO V.I. INTERNATIONAL GROWTH FUND			20,922			55,529
INVESCO V.I. MID CAP CORE EQUITY FUND			21,841			407
INVESCO V.I. SMALL CAP EQUITY FUND			100			474
INVESCO V.I. TECHNOLOGY FUND			27,777			27,406
IVY VIP INTERNATIONAL CORE EQUITY			15,601			478,874
JANUS HENDERSON VIT BALANCED PORTFOLIO			57,075			1,424
JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES			7,052,124			6,762,897
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO			58,168			216,547
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES			195,040			498,726
JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO			98,240			72,509
JANUS HENDERSON VIT GLOBAL TECHNOLOGY AND INNOVATION PORTFOLIO			119,632			4,972
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES			160,296			33849.41
JANUS HENDERSON VIT OVERSEAS PORTFOLIO			294			989
JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES			24,815			16,136
JANUS HENDERSON VIT RESEARCH PORTFOLIO			30,530			8,002
JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO			2,079			483
LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO			94,218			76,710
LORD ABBETT SERIES SHORT DURATION PORTFOLIIO			13,643			41
LVIP BARON GROWTH OPPORTUNITIES FUND			237,818			393,275
MFS VIT UTILITIES SERIES			20,899			29,008
MFS VIT II INTERNATIONAL INTRINSIC VALUE PORTFOLIO			186,004			405,304
MFS VIT III MID CAP VALUE PORTFOLIO			11,120			11,258
MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO			45,289			110,530
NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO			1			14,841
NVIT MID CAP INDEX FUND			224,842			189,505
PIMCO VIT COMMODITY REAL RETURN STRATEGY PORTFOLIO			17,090			8,441
PIMCO VIT EMERGING MARKETS BOND PORTFOLIO			78,323			348

Investment Division		Purchases			Sales
PIMCO VIT HIGH YIELD PORTFOLIO	$		133,566	$		47,541
PIMCO VIT LOW DURATION PORTFOLIO			540,218			611,254
PIMCO VIT REAL RETURN PORTFOLIO			76,563			1,101
PIMCO VIT TOTAL RETURN PORTFOLIO			623,544			889,705
PIONEER FUND VCT PORTFOLIO			116,601			26,758
PIONEER MID CAP VALUE VCT PORTFOLIO			25,751			51,565
PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO			42,412			14,305
PRUDENTIAL SERIES FUND EQUITY PORTFOLIO			1,698			54,482
PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO			0			92
PUTNAM VT EQUITY INCOME FUND			189,280			400,433
PUTNAM VT GLOBAL ASSET ALLOCATION FUND			7,616			837
PUTNAM VT GLOBAL HEALTH CARE FUND			434,891			437,987
PUTNAM VT INCOME FUND			258,898			16,398
PUTNAM VT INTERNATIONAL VALUE FUND			9,291			13,489
PUTNAM VT MORTGAGE SECURITIES FUND			81,805			108,444
PUTNAM VT MULTI-CAP CORE FUND			108,271			61,673
ROYCE CAPITAL FUND—SMALL-CAP PORTFOLIO			18,998			11,572
SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO			21,259,356			19,879,193
SCHWAB S&P 500 INDEX PORTFOLIO			7,083,311			10,048,905
SCHWAB VIT BALANCED PORTFOLIO			49,974			142,019
SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO			11,794			6,297
SCHWAB VIT GROWTH PORTFOLIO			5,952			187,329
TEMPLETON FOREIGN VIP FUND			4,679			33,692
TEMPLETON GLOBAL BOND VIP FUND			86,951			5,709
THIRD AVENUE VALUE PORTFOLIO VARIABLE SERIES			987			6,210
TOUCHSTONE VST BOND FUND			42,306			169,911
TOUCHSTONE VST COMMON STOCK FUND			67,224			79,935
TOUCHSTONE VST COMMON STOCK FUND CLASS SC			19,993			199,279
TOUCHSTONE VST SMALL COMPANY FUND			2,759			42,040
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO			139,066			5,049
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II			80,412			843
VANGUARD VIF CAPITAL GROWTH PORTFOLIO			452,626			17,898
VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO			107,913			3,006
VANGUARD VIF MID-CAP INDEX PORTFOLIO			505,561			626,758
VANGUARD VIF REAL ESTATE INDEX PORTFOLIO			161,641			188,192
VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO			78,128			3,101
VAN ECK VIP GLOBAL HARD ASSETS FUND			16,780			31,466
VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND			149,996			83,442
WELLS FARGO VT DISCOVERY FUND			96,618			837
WELLS FARGO VT OMEGA GROWTH FUND			8,724			4,298
WELLS FARGO VT OPPORTUNITY FUND			12,128			11,459

Other, Net

The amounts reported as Other, net on the Statement of Changes in Net Assets of the applicable Investment Divisions consist of loans from participant accounts and loan repayments to participant accounts.

Transfer Fees

The Company charges $10 in the Schwab Select Annuity contract for each transfer between Investment Divisions in excess of 12 transfers in any calendar year. This charge is recorded as Transfers for contract benefits and terminations on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Deductions for Premium Taxes

The Company may deduct from each contribution any applicable state premium tax or retaliatory tax, which currently ranges from 0% to 3.5%. This charge is netted with Proceeds from units sold on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Deductions for Assumption of Mortality and Expense Risks

The Company assumes mortality and expense risks related to the operations of the Series Account. It deducts a daily charge from the unit value of each Investment Division of the Schwab Select annuity contract, equal to an annual rate of 0.85%; a daily charge from the unit value of each Investment Division of the Schwab OneSource annuity contract, equal to an annual rate of 0.65% to 0.85%, depending on the death benefit option chosen; a daily charge from the unit value of each Investment Division of Schwab Advisor Choice annuity contract, equal to an annual rate of 0.49% to 0.69%, depending on the death benefit option chosen; and a daily charge from the unit value of each Investment Division of Schwab OneSource Choice annuity contract, equal to an annual rate of 0.65% to 0.85%, depending on the death benefit option chosen. The level of these charges is guaranteed and will not change. The charges are recorded as Mortality and expense risk in the Statement of Operations of the applicable Investment Divisions.

Optional GLWB Rider Benefit Fee

The Company deducts a quarterly charge equal to a maximum annual rate of 1.50% from the covered fund value in Schwab Advisor Choice and Schwab OneSource Choice annuity contracts for the guaranteed lifetime withdrawal benefit rider if this option is chosen. Currently, this charge is 0.95% for Schwab Advisor Choice annuity contracts signed before May 1, 2017, and 0.90% for Schwab Advisor Choice annuity contracts signed on or after May 1, 2017; and 1.00% for Schwab OneSource Choice annuity contracts signed before May 1, 2017, and 0.90% for Schwab OneSource Choice annuity contracts signed on or after May 1, 2017. This charge is recorded as Contract charges on the Statement of Changes in Net Assets of the applicable Investment Division, if applicable.

If the above charges prove insufficient to cover actual costs and assumed risks, the loss will be borne by the Company; conversely, if the amounts deducted prove more than sufficient, the excess will be a profit to the Company.

4. SUBSEQUENT EVENTS

Management has reviewed all events subsequent to December 31, 2020, including the estimates inherent in the process of preparing these financial statements through the date the financial statements were issued, May 6, 2021. No subsequent events requiring adjustments or disclosures have occurred.

5. FINANCIAL HIGHLIGHTS

For each Investment Division, the accumulation units outstanding, net assets, investment income ratio, the range of lowest to highest expense ratio (excluding expenses of the underlying funds), total return and accumulation unit fair values for each year or period ended December 31 are included on the following pages. As the unit fair value for the Investment Divisions of the Series Account are presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some unit values shown on the Statement of Assets and Liabilities which are calculated on an aggregated basis, may not be within the ranges presented.

The Expense Ratios represent the annualized contract expenses of the respective Investment Divisions of the Series Account, consisting of mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying fund have been excluded.

The Total Return amounts represent the total return for the periods indicated, including changes in the value of the underlying fund, and expenses assessed through the reduction of unit values. These returns do not include any expenses assessed through the redemption of units. Investment Divisions with a date notation indicate the effective date that the investment option was available in the Series Account. The total returns are calculated for each 12-month period indicated or from the effective date through the end of the reporting period and are not annualized for periods less than one year. When a new Investment Division is added to the Series Account, the calculation of the total return begins on the day it is added even though it may not have had operations for all or some of the same period. As the total returns for the Investment Divisions are presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are not within the ranges presented.

The Investment Income Ratio represents the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying mutual fund divided by average net assets during the period. It is not annualized for periods less than one year. The ratio excludes those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the Investment Division is affected by the timing of the declaration of dividends by the underlying fund in which the Investment Division invests.

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31								For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value				Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
AB VPS GROWTH AND INCOME PORTFOLIO
2020		14		$                25.21	to	$                16.69		$                   275		1.68  %		0.49  %	to	0.85  %		1.84  %	to	2.22  %
2019		9		$                24.75	to	$                16.33		$                   176		1.25  %		0.49  %	to	0.85  %		22.87  %	to	23.30  %
2018		9		$                20.14	to	$                13.24		$                   144		0.97  %		0.49  %	to	0.85  %		(6.41) %	to	(6.07) %
2017		7		$                21.52	to	$                14.02		$                   126		1.61  %		0.65  %	to	0.85  %		17.92  %	to	18.16  %
2016		3		$                18.25	to	$                18.25		$                     60		0.73  %		0.85  %	to	0.85  %		10.36  %	to	10.36  %
AB VPS INTERNATIONAL GROWTH PORTFOLIO
2020		12		$                23.92	to	$                14.08		$                   269		1.42  %		0.65  %	to	0.85  %		28.81  %	to	29.07  %
2019		17		$                18.57	to	$                10.91		$                   306		0.60  %		0.65  %	to	0.85  %		26.45  %	to	26.70  %
2018		21		$                14.68	to	$                  8.61		$                   295		0.70  %		0.65  %	to	0.85  %		(18.11) %	to	(17.95) %
2017		18		$                17.93	to	$                10.49		$                   312		0.87  %		0.65  %	to	0.85  %		33.89  %	to	34.16  %
2016		14		$                13.39	to	$                  7.82		$                   197		0.00  %		0.65  %	to	0.85  %		(7.66) %	to	(7.49) %
AB VPS INTERNATIONAL VALUE PORTFOLIO
2020		8		$                  8.85	to	$                  7.90		$                     66		2.03  %		0.65  %	to	0.85  %		1.58  %	to	1.80  %
2019		11		$                  8.71	to	$                  7.76		$                     90		0.92  %		0.65  %	to	0.85  %		16.15  %	to	16.38  %
2018		11		$                  7.50	to	$                  6.67		$                     82		1.52  %		0.65  %	to	0.85  %		(23.45) %	to	(23.29) %
2017		11		$                  9.80	to	$                  8.69		$                   108		2.26  %		0.65  %	to	0.85  %		24.37  %	to	24.61  %
2016		11		$                  7.88	to	$                  6.98		$                     87		1.03  %		0.65  %	to	0.85  %		(1.34) %	to	(1.15) %
AB VPS LARGE CAP GROWTH PORTFOLIO
2020		12		$                43.88	to	$                30.75		$                   446		0.00  %		0.49  %	to	0.85  %		34.35  %	to	34.82  %
2019		8		$                32.66	to	$                22.81		$                   244		0.00  %		0.49  %	to	0.85  %		35.56  %	to	36.05  %
2018		8		$                24.09	to	$                16.76		$                   166		0.00  %		0.49  %	to	0.85  %		3.13  %	to	3.51  %
2017		5		$                15.99	to	$                23.53		$                   121		0.00  %		0.65  %	to	0.85  %		33.38  %	to	33.65  %
2016		6		$                17.31	to	$                17.60		$                   110		0.00  %		0.65  %	to	0.85  %		0.27  %	to	0.47  %
AB VPS SMALL/MID CAP VALUE PORTFOLIO
2020		8		$                25.55	to	$                14.19		$                   187		1.28  %		0.65  %	to	0.85  %		2.49  %	to	2.72  %
2019		16		$                24.93	to	$                13.81		$                   319		0.59  %		0.65  %	to	0.85  %		19.08  %	to	19.32  %
2018		18		$                20.93	to	$                11.58		$                   306		0.52  %		0.65  %	to	0.85  %		(15.76) %	to	(15.58) %
2017		16		$                24.85	to	$                13.79		$                   351		0.47  %		0.49  %	to	0.85  %		12.20  %	to	12.60  %
2016		21		$                22.15	to	$                12.25		$                   397		0.60  %		0.49  %	to	0.85  %		24.03  %	to	24.48  %
ALGER CAPITAL APPRECIATION PORTFOLIO
2020		7		$                24.35	to	$                24.35		$                   159		0.00  %		0.49  %	to	0.49  %		41.08  %	to	41.08  %
2019		3		$                17.26	to	$                17.26		$                     59		0.00  %		0.49  %	to	0.49  %		32.93  %	to	32.93  %
2018		4		$                12.99	to	$                12.99		$                     49		0.07  %		0.49  %	to	0.49  %		(0.59) %	to	(0.59) %
2017		5		$                12.94	to	$                13.06		$                     59		0.23  %		0.49  %	to	0.85  %		29.96  %	to	30.44  %
2016		1		$                10.02	to	$                10.02		$                     12		0.20  %		0.49  %	to	0.49  %		0.02  %	to	0.02  %
ALGER LARGE CAP GROWTH PORTFOLIO
2020		32		$                78.37	to	$                41.56		$                2,289		0.19  %		0.65  %	to	0.85  %		65.61  %	to	65.97  %
2019		36		$                47.32	to	$                25.04		$                1,595		0.00  %		0.65  %	to	0.85  %		26.35  %	to	26.60  %
2018		38		$                37.45	to	$                19.78		$                1,324		0.00  %		0.65  %	to	0.85  %		1.34  %	to	1.55  %
2017		40		$                36.96	to	$                19.48		$                1,381		0.00  %		0.65  %	to	0.85  %		27.38  %	to	27.63  %
2016		47		$                29.01	to	$                10.69		$                1,169		0.00  %		0.49  %	to	0.85  %		(1.66) %	to	(1.31) %
ALGER MID CAP GROWTH PORTFOLIO
2020		12		$                55.14	to	$                26.32		$                   468		0.00  %		0.49  %	to	0.85  %		63.23  %	to	63.87  %
2019		12		$                33.78	to	$                16.06		$                   298		0.00  %		0.49  %	to	0.85  %		29.15  %	to	29.62  %
2018		14		$                26.15	to	$                12.39		$                   274		0.00  %		0.49  %	to	0.85  %		(8.24) %	to	(7.91) %
2017		16		$                28.50	to	$                13.46		$                   368		0.00  %		0.49  %	to	0.85  %		28.70  %	to	29.16  %
2016		16		$                22.15	to	$                12.79		$                   295		0.00  %		0.65  %	to	0.85  %		0.12  %	to	0.32  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO
(Effective date 04/29/2016)
2020		1	$	17.46	to	$	17.46	$	17		14.72  %		0.65  %	to	0.65  %		8.84  %	to	8.84  %
2019		1	$	16.04	to	$	16.04	$	16		0.00  %		0.65  %	to	0.65  %		39.44  %	to	39.44  %
2018		1	$	11.50	to	$	11.50	$	11		5.74  %		0.65  %	to	0.65  %		(12.79) %	to	(12.79) %
2017		1	$	13.19	to	$	13.19	$	13		2.95  %		0.65  %	to	0.65  %		24.68  %	to	24.68  %
AMERICAN CENTURY INVESTMENTS VP BALANCED FUND
2020		44	$	29.20	to	$	15.52	$	836		1.17  %		0.65  %	to	0.85  %		11.59  %	to	11.80  %
2019		68	$	26.17	to	$	14.01	$	1,169		1.56  %		0.49  %	to	0.85  %		18.84  %	to	19.26  %
2018		67	$	22.02	to	$	11.74	$	973		1.10  %		0.49  %	to	0.85  %		(4.65) %	to	(4.30) %
2017		48	$	23.10	to	$	12.20	$	832		1.44  %		0.65  %	to	0.85  %		12.95  %	to	13.18  %
2016		34	$	20.45	to	$	15.56	$	646		1.60  %		0.65  %	to	0.85  %		6.09  %	to	6.30  %
AMERICAN CENTURY INVESTMENTS VP DISCIPLINED CORE VALUE FUND
2020		44	$	24.85	to	$	17.30	$	804		2.18  %		0.49  %	to	0.85 %		10.86  %	to	11.26  %
2019		42	$	15.24	to	$	15.55	$	665		2.08  %		0.49  %	to	0.85 %		22.90  %	to	23.34  %
2018		37	$	12.40	to	$	12.61	$	475		2.24  %		0.49  %	to	0.85 %		(7.66) %	to	(7.33) %
2017		5	$	13.43	to	$	13.60	$	89		2.27  %		0.49  %	to	0.85 %		19.46  %	to	19.90  %
2016		4	$	16.82	to	$	11.30	$	61		2.33 %		0.65  %	to	0.65 %		12.75  %	to	12.75  %
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND
2020		15	$	33.00	to	$	15 .54	$	340		0.49  %		0.49  %	to	0.85  %		24.81  %	to	25.28  %
2019		14	$	26.44	to	$	12.40	$	253		0.85  %		0.49  %	to	0.85 %		27.33  %	to	27.80  %
2018		12	$	20.76	to	$	9.63	$	183		1.30  %		0.65  %	to	0.85 %		(15.95) %	to	(15.77) %
2017		10	$	24.70	to	$	11.44	$	199		0.81  %		0.65  %	to	0.85 %		30.10  %	to	30.36  %
2016		8	$	18.99	to	$	8.84	$	136		1.43  %		0.65  %	to	0.85 %		(6.29) %	to	(6.11) %
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND
2020		12	$	37.73	to	$	16.23	$	297		1.80 %		0.49 %	to	0.85 %		0.25  %	to	0.60  %
2019		12	$	37.64	to	$	16.13	$	315		1.92 %		0.49 %	to	0.85 %		27.90  %	to	28.36  %
2018		12	$	29.43	to	$	12.56	$	257		1.27 %		0.49 %	to	0.85 %		(13.70) %	to	(13.39) %
2017		14	$	34.10	to	$	14.51	$	338		1.44 %		0.49 %	to	0.85 %		10.53  %	to	10.92  %
2016		9	$	30.85	to	$	13.08	$	248		1.57 %		0.49 %	to	0.85 %		21.68  %	to	22.12  %
AMERICAN CENTURY INVESTMENTS VP VALUE FUND
2020		135	$	33.31	to	$	15.23	$	2,979		2.53  %		0.49  %	to	0.85 %		0.11  %	to	0.51  %
2019		138	$	33.27	to	$	15.15	$	3,001		2.15  %		0.49  %	to	0.85 %		25.96  %	to	26.41  %
2018		96	$	26.41	to	$	11.99	$	1,844		1.70  %		0.49  %	to	0.85 %		(9.92) %	to	(9.59) %
2017		69	$	29.32	to	$	13.26	$	1,732		1.67  %		0.49  %	to	0.85 %		7.83  %	to	8.21  %
2016		79	$	27.19	to	$	12.25	$	1,851		1.72  %		0.49  %	to	0.85 %		19.46  %	to	19.90  %
AMERICAN FUNDS IS BOND FUND
(Effective date 4/30/2020)
2020		4	$	10.47	to	$	10.47	$	45		1.95  %		0.65  %	to	0.65 %		4.70  %	to	4.70  %
AMERICAN FUNDS IS GLOBAL GROWTH FUND
2020		8	$	22.53	to	$	22.83	$	186		0.65  %		0.49  %	to	0.69 %		29.88  %	to	30.14  %
2019		8	$	17.54	to	$	17.54	$	148		1.36  %		0.49  %	to	0.49 %		34.95  %	to	34.95  %
2018		9	$	13.00	to	$	13.00	$	115		0.97  %		0.49  %	to	0.49 %		(9.26) %	to	(9.26) %
2017		5	$	14.32	to	$	14.32	$	71		1.13  %		0.49  %	to	0.49 %		31.16  %	to	31.16  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31								For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value				Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
AMERICAN FUNDS IS GROWTH-INCOME FUND
(Effective date 04/30/2018)
2020		12		$                13.31	to	$                13.38		$            160		1.45  %		0.49  %	to	0.69  %		12.47  %	to	12.71  %
2019		6		$                11.84	to	$                11.87		$              68		1.24  %		0.49  %	to	0.65  %		25.04  %	to	25.22  %
AMERICAN FUNDS IS INTERNATIONAL FUND
(Effective date 04/28/2017)
2020		4		$                13.91	to	$                13.91		$                6		0.73  %		0.49  %	to	0.49  %		13.45  %	to	13.45  %
2019		0*		$                12.26	to	$                12.26		$                5		1.71  %		0.49  %	to	0.49  %		22.30  %	to	22.30  %
AMERICAN FUNDS IS NEW WORLD FUND
(Effective date 04/29/2016)
2020		12		$                17.89	to	$                18.06		$            209		0.09  %		0.49  %	to	0.69  %		22.73  %	to	23.00  %
2019		7		$                14.68	to	$                14.68		$            102		0.96  %		0.49  %	to	0.49  %		28.51  %	to	28.51  %
2018		7		$                11.42	to	$                11.42		$              83		0.97  %		0.49  %	to	0.49  %		(14.46) %	to	(14.46) %
2017		4		$                13.28	to	$                13.36		$              53		1.39  %		0.49  %	to	0.85  %		28.34  %	to	28.82  %
2016		0*		$                10.37	to	$                10.37		$                3		0.70  %		0.49  %	to	0.49  %		3.68  %	to	3.68  %
BLACKROCK GLOBAL ALLOCATION VI FUND
2020		19		$                14.83	to	$                15.03		$            277		0.93  %		0.49  %	to	0.69  %		20.19  %	to	20.42  %
2019		32		$                12.34	to	$                12.48		$            399		1.23  %		0.49  %	to	0.69  %		17.18  %	to	17.41  %
2018		41		$                10.53	to	$                10.63		$            436		1.17  %		0.49  %	to	0.69  %		(7.98) %	to	(7.80) %
2017		23		$                11.45	to	$                11.61		$            270		1.25  %		0.65  %	to	0.69  %		13.07  %	to	13.12  %
2016		21		$                10.12	to	$                10.26		$            217		1.35  %		0.65  %	to	0.69  %		3.40  %	to	3.45  %
BNY MELLON IP MIDCAP STOCK PORTFOLIO
2020		30		$                36.02	to	$                14.94		$            483		0.90  %		0.49  %	to	0.85  %		7.18  %	to	7.60  %
2019		31		$                33.61	to	$                13.88		$            467		0.64  %		0.49  %	to	0.85  %		19.17  %	to	19.60  %
2018		32		$                28.20	to	$                11.61		$            404		0.22  %		0.49  %	to	0.85  %		(16.21) %	to	(15.90) %
2017		4		$                33.66	to	$                13.80		$            102		0.93  %		0.49  %	to	0.85  %		14.41  %	to	14.81  %
2016		3		$                29.42	to	$                11.97		$              78		1.04  %		0.65  %	to	0.85  %		14.49  %	to	14.74  %
BNY MELLON VIF APPRECIATION PORTFOLIO
2020		22		$                35.14	to	$                31.44		$            750		0.87  %		0.65  %	to	0.85  %		22.66  %	to	22.89  %
2019		28		$                28.65	to	$                25.58		$            767		1.11  %		0.65  %	to	0.85  %		34.94  %	to	35.21  %
2018		19		$                21.23	to	$                18.92		$            396		1.24  %		0.65  %	to	0.85  %		(7.65) %	to	(7.47) %
2017		21		$                22.99	to	$                20.45		$            490		1.34  %		0.65  %	to	0.85  %		26.26  %	to	26.51  %
2016		28		$                18.21	to	$                16.16		$            513		1.62  %		0.65  %	to	0.85  %		6.99  %	to	7.20  %
BNY MELLON VIF GROWTH AND INCOME PORTFOLIO
2020		10		$                34.17	to	$                21.04		$            242		0.79  %		0.65  %	to	0.85  %		23.57  %	to	23.86  %
2019		15		$                27.65	to	$                16.99		$            279		0.94  %		0.65  %	to	0.85  %		28.03  %	to	28.28  %
2018		12		$                21.60	to	$                13.58		$            184		0.79  %		0.65  %	to	0.85  %		(5.50) %	to	(5.31) %
2017		13		$                22.85	to	$                14.34		$            214		0.75  %		0.65  %	to	0.85  %		18.70  %	to	18.94  %
2016		13		$                19.25	to	$                12.06		$            182		1.00  %		0.65  %	to	0.85  %		9.10  %	to	9.32  %
CLEARBRIDGE VARIABLE LARGE CAP GROWTH PORTFOLIO
(Effective date 04/30/2018)
2020		13		$                16.27	to	$                16.29		$            213		0.00  %		0.65  %	to	0.69  %		29.84  %	to	29.90  %
2019		3		$                12.54	to	$                12.54		$              41		0.23  %		0.65  %	to	0.65  %		31.31  %	to	31.31  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
CLEARBRIDGE VARIABLE MID CAP PORTFOLIO
(Effective date 04/29/2016)
2020		4	$	16.16	to	$	16.31	$	69		0.45  %		0.65  %	to	0.85  %		14.38  %	to	14.64  %
2019		3	$	14.23	to	$	14.23	$	39		0.63  %		0.65  %	to	0.65  %		32.09  %	to	32.09  %
2018		3	$	10.78	to	$	10.78	$	28		0.50  %		0.65  %	to	0.65  %		(13.09) %	to	(13.09) %
2017		3	$	12.40	to	$	12.40	$	32		0.44  %		0.65  %	to	0.65  %		12.07  %	to	12.07  %
CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO
2020		4	$	22.87	to	$	22.93	$	96		0.00  %		0.65  %	to	0.69  %		42.28  %	to	42.31  %
2019		4	$	16.11	to	$	16.11	$	64		0.00  %		0.65  %	to	0.65  %		26.05  %	to	26.05  %
2018		8	$	12.78	to	$	12.78	$	99		0.00  %		0.65  %	to	0.65  %		2.77  %	to	2.77  %
2017		6	$	12.44	to	$	12.44	$	70		0.00  %		0.65  %	to	0.65  %		23.46  %	to	23.46  %
COLUMBIA VARIABLE PORTFOLIO—EMERGING MARKETS FUND
(Effective date 4/30/2020)
2020		1	$	16.02	to	$	16.02	$	12		0.00  %		0.69  %	to	0.69  %		60.18  %	to	60.18  %
COLUMBIA VARIABLE PORTFOLIO—LARGE CAP GROWTH FUND
(Effective date 04/29/2016)
2020		56	$	22.64	to	$	23.02	$	1,280		0.00  %		0.49  %	to	0.85  %		33.31  %	to	33.76  %
2019		58	$	16.98	to	$	17.21	$	999		0.00  %		0.49  %	to	0.85  %		34.39  %	to	34.86  %
2018		57	$	12.64	to	$	12.76	$	732		0.00  %		0.49  %	to	0.85  %		(4.95) %	to	(4.60) %
2017		14	$	13.30	to	$	13.34	$	184		0.00  %		0.65  %	to	0.85  %		26.76  %	to	27.01  %
2016		14	$	10.49	to	$	10.50	$	144		0.00  %		0.65  %	to	0.85  %		4.90  %	to	5.04  %
COLUMBIA VARIABLE PORTFOLIO—SELIGMAN GLOBAL TECHNOLOGY FUND
2020		27	$	52.56	to	$	40.92	$	1,332		0.00  %		0.49  %	to	0.85  %		44.56  %	to	45.11  %
2019		24	$	36.36	to	$	28.20	$	832		0.00  %		0.49  %	to	0.85  %		53.66  %	to	54.22  %
2018		31	$	23.66	to	$	18.29	$	729		0.00  %		0.49  %	to	0.85  %		(9.23) %	to	(8.90) %
2017		32	$	26.07	to	$	20.08	$	813		0.00  %		0.49  %	to	0.85  %		33.78  %	to	34.26  %
2016		22	$	19.48	to	$	19.71	$	425		0.00  %		0.65  %	to	0.85  %		18.01  %	to	18.24  %
COLUMBIA VARIABLE PORTFOLIO—SMALL CAP VALUE FUND
2020		3	$	31.98	to	$	32.73	$	93		0.35  %		0.65  %	to	0.85  %		7.66  %	to	7.90  %
2019		3	$	29.70	to	$	30.33	$	87		0.30  %		0.65  %	to	0.85  %		19.96  %	to	20.20  %
2018		4	$	24.76	to	$	25.24	$	98		0.15  %		0.65  %	to	0.85  %		(18.86) %	to	(18.70) %
2017		4	$	30.51	to	$	31.04	$	121		0.15  %		0.65  %	to	0.85  %		13.02  %	to	13.25  %
2016		1	$	27.41	to	$	12.45	$	19		0.23  %		0.49  %	to	0.65  %		31.88  %	to	32.08  %
DELAWARE VIP EMERGING MARKETS SERIES
2020		24	$	15.67	to	$	15.32	$	373		0.87  %		0.49  %	to	0.85  %		23.99  %	to	24.43  %
2019		29	$	12.64	to	$	12.31	$	357		0.68  %		0.49  %	to	0.85  %		21.59  %	to	22.02  %
2018		26	$	10.39	to	$	10.08	$	268		2.67  %		0.49  %	to	0.85  %		(16.52) %	to	(16.22) %
2017		11	$	12.45	to	$	12.04	$	137		0.10  %		0.49  %	to	0.85  %		39.36  %	to	39.87  %
2016		1	$	8.56	to	$	8.61	$	8		0.30  %		0.49  %	to	0.69  %		13.15  %	to	13.37  %
DELAWARE VIP INTERNATIONAL SERIES
(Effective date 12/11/2020)
2020		9	$	10.18	to	$	10.18	$	90		0.00  %		0.49  %	to	0.69  %		1.77  %	to	1.78  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
DELAWARE VIP SMALL CAP VALUE SERIES
2020		17	$	41.68	to	$	14.42	$	476		1.43  %		0.49  %	to	0.85  %		(2.73) %	to	(2.37) %
2019		18	$	42.85	to	$	14.77	$	552		1.06  %		0.49  %	to	0.85  %		27.06  %	to	27.51  %
2018		19	$	33.73	to	$	11.58	$	460		0.84  %		0.49  %	to	0.85  %		(17.43) %	to	(17.13) %
2017		23	$	40.84	to	$	13.98	$	691		0.81  %		0.49  %	to	0.85  %		11.11  %	to	11.50  %
2016		17	$	36.76	to	$	12.54	$	471		0.96  %		0.49  %	to	0.85  %		30.30  %	to	30.77  %
DELAWARE VIP SMID CAP CORE SERIES
2020		9	$	35.36	to	$	18.89	$	244		0.59  %		0.49  %	to	0.85  %		10.15  %	to	10.52  %
2019		12	$	32.10	to	$	17.09	$	286		0.53  %		0.49  %	to	0.85  %		28.53  %	to	29.00  %
2018		13	$	24.97	to	$	13.25	$	233		0.17  %		0.49  %	to	0.85  %		(12.87) %	to	(12.55) %
2017		9	$	28.66	to	$	15.15	$	206		0.29  %		0.49  %	to	0.85  %		17.64  %	to	18.06  %
2016		7	$	24.36	to	$	12.78	$	161		0.18  %		0.65  %	to	0.85  %		7.38  %	to	7.60  %
DELAWARE VIP VALUE SERIES
(Effective date 04/28/2017)
2020		16	$	12.67	to	$	12.77	$	208		2.27  %		0.49  %	to	0.69  %		(0.30) %	to	(0.11) %
2019		8	$	12.71	to	$	12.78	$	103		0.28  %		0.49  %	to	0.69  %		19.14  %	to	19.38  %
DIMENSIONAL VA US TARGETED VALUE PORTFOLIO
2020		10	$	13.81	to	$	13.99	$	140		2.15  %		0.49  %	to	0.69  %		3.27  %	to	3.51  %
2019		9	$	13.52	to	$	13.52	$	124		1.39  %		0.49  %	to	0.49  %		21.96  %	to	21.96  %
2018		8	$	11.09	to	$	11.09	$	90		1.05  %		0.49  %	to	0.49  %		(16.28) %	to	(16.28) %
2017		5	$	13.25	to	$	13.25	$	71		1.39  %		0.49  %	to	0.49  %		9.23  %	to	9.23  %
2016		3	$	12.13	to	$	12.13	$	42		1.14  %		0.49  %	to	0.49  %		26.88  %	to	26.88  %
DWS CAPITAL GROWTH VIP
2020		47	$	44.59	to	$	28.46	$	1,914		0.51  %		0.65  %	to	0.85  %		37.88  %	to	38.11  %
2019		41	$	32.34	to	$	20.61	$	1,258		0.43  %		0.65  %	to	0.85  %		35.97  %	to	36.25  %
2018		41	$	23.79	to	$	15.12	$	933		0.70  %		0.65  %	to	0.85  %		(2.44) %	to	(2.24) %
2017		42	$	24.38	to	$	15.47	$	977		0.73  %		0.65  %	to	0.85  %		25.23  %	to	25.48  %
2016		41	$	19.47	to	$	18.07	$	783		1.00  %		0.65  %	to	0.85  %		3.37  %	to	3.58  %
DWS CORE EQUITY VIP
2020		15	$	31.42	to	$	21.15	$	357		1.40  %		0.49  %	to	0.85  %		15.14  %	to	15.59  %
2019		14	$	27.29	to	$	18.30	$	285		1.07  %		0.49  %	to	0.85  %		29.20  %	to	29.66  %
2018		13	$	21.12	to	$	14.12	$	223		1.63  %		0.49  %	to	0.85  %		(6.49) %	to	(6.15) %
2017		11	$	22.59	to	$	15.04	$	213		1.08  %		0.49  %	to	0.85  %		20.00  %	to	20.43  %
2016		7	$	18.04	to	$	19.15	$	122		1.49  %		0.65  %	to	0.85  %		9.55  %	to	9.77  %
DWS CROCI® U.S. VIP
2020		4	$	19.33	to	$	14.96	$	85		2.41  %		0.65  %	to	0.85  %		(12.92) %	to	(12.72) %
2019		7	$	22.20	to	$	17.14	$	161		1.91  %		0.65  %	to	0.85  %		31.83  %	to	32.09  %
2018		13	$	16.84	to	$	12.98	$	224		2.50  %		0.65  %	to	0.85  %		(11.26) %	to	(11.07) %
2017		15	$	18.97	to	$	14.59	$	284		1.50  %		0.65  %	to	0.85  %		21.84  %	to	22.10  %
2016		16	$	15.57	to	$	11.95	$	251		1.07  %		0.65  %	to	0.85  %		(5.19) %	to	(5.00) %
DWS GLOBAL SMALL CAP VIP
2020		6	$	12.84	to	$	12.84	$	75		0.86  %		0.65  %	to	0.65  %		16.58  %	to	16.58  %
2019		6	$	11.01	to	$	11.01	$	64		0.00  %		0.65  %	to	0.65  %		20.50  %	to	20.50  %
2018		12	$	9.05	to	$	9.19	$	107		0.28  %		0.49  %	to	0.85  %		(21.19) %	to	(20.90) %
2017		12	$	11.48	to	$	11.62	$	138		0.00  %		0.49  %	to	0.85  %		19.01  %	to	19.44  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31								For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value				Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
DWS SMALL CAP INDEX VIP
2020		51		$                46.89	to	$                18.05		$                1,222		1.20  %		0.49  %	to	0.85  %		18.43  %	to	18.84  %
2019		63		$                39.59	to	$                15.19		$                1,243		1.16  %		0.49  %	to	0.85  %		24.16  %	to	24.61  %
2018		58		$                31.89	to	$                12.19		$                1,111		0.95  %		0.49  %	to	0.85  %		(11.99) %	to	(11.67) %
2017		54		$                36.23	to	$                13.80		$                1,246		0.89  %		0.49  %	to	0.85  %		13.37  %	to	13.78  %
2016		42		$                31.96	to	$                19.47		$                   989		1.12  %		0.65  %	to	0.85  %		20.01  %	to	20.24  %
DWS SMALL MID CAP GROWTH VIP
2020		1		$                19.01	to	$                19.01		$                     20		0.05  %		0.65  %	to	0.65  %		30.72  %	to	30.72  %
2019		1		$                14.54	to	$                14.54		$                     15		0.00  %		0.65  %	to	0.65  %		21.62  %	to	21.62  %
2018		1		$                11.95	to	$                11.95		$                     12		0.00  %		0.65  %	to	0.65  %		(14.15) %	to	(14.15) %
2017		1		$                13.92	to	$                13.92		$                     14		0.00  %		0.65  %	to	0.65  %		21.34  %	to	21.34  %
DWS SMALL MID CAP VALUE VIP
2020		7		$                20.15	to	$                20.02		$                   140		1.51  %		0.65  %	to	0.85  %		(1.64)  %	to	(1.47)  %
2019		7		$                19.85	to	$                20.32		$                   149		0.72  %		0.65  %	to	0.85  %		20.49  %	to	20.73  %
2018		7		$                17.01	to	$                16.83		$                   126		1.38  %		0.65  %	to	0.85  %		(16.73) %	to	(16.57) %
2017		8		$                20.42	to	$                20.17		$                   162		0.72  %		0.65  %	to	0.85  %		9.59  %	to	9.81  %
2016		8		$                18.64	to	$                18.37		$                   146		0.56  %		0.65  %	to	0.85  %		15.90  %	to	16.13  %
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II
2020		186		$                21.80	to	$                11.47		$                2,594		2.51  %		0.49  %	to	0.85  %		4.34  %	to	4.71  %
2019		153		$                20.89	to	$                10.95		$                2,198		1.59  %		0.49  %	to	0.85  %		5.00  %	to	5.38  %
2018		92		$                19.90	to	$                10.39		$                1,482		2.37  %		0.49  %	to	0.85  %		(0.40) %	to	(0.04) %
2017		85		$                19.98	to	$                10.40		$                1,423		2.39  %		0.49  %	to	0.85  %		1.07  %	to	1.43  %
2016		92		$                19.77	to	$                12.21		$                1,566		2.30  %		0.65  %	to	0.85  %		0.74  %	to	0.95  %
FEDERATED HERMES MANAGED VOLATILITY FUND II
2020		4		$                26.17	to	$                26.17		$                     93		2.73  %		0.85  %	to	0.85  %		0.08  %	to	0.08  %
2019		4		$                26.15	to	$                26.15		$                   106		2.07  %		0.85  %	to	0.85  %		19.21  %	to	19.21  %
2018		4		$                21.94	to	$                21.94		$                     92		1.55  %		0.85  %	to	0.85  %		(9.27) %	to	(9.27) %
2017		1		$                24.18	to	$                24.18		$                     31		3.84  %		0.85  %	to	0.85  %		17.11  %	to	17.11  %
2016		1		$                20.65	to	$                20.65		$                     26		4.76  %		0.85  %	to	0.85  %		6.78  %	to	6.78  %
FRANKLIN SMALL CAP VALUE VIP FUND
2020		32		$                23.62	to	$                14.94		$                   598		1.63  %		0.49  %	to	0.85  %		4.29  %	to	4.64  %
2019		32		$                22.65	to	$                14.28		$                   578		1.06  %		0.49  %	to	0.85  %		25.28  %	to	25.74  %
2018		36		$                18.08	to	$                11.35		$                   540		0.77  %		0.49  %	to	0.85  %		(13.62) %	to	(13.31) %
2017		24		$                20.93	to	$                13.10		$                   482		0.54  %		0.49  %	to	0.85  %		9.71  %	to	10.11  %
2016		29		$                19.08	to	$                11.89		$                   513		0.83  %		0.49  %	to	0.85  %		29.09  %	to	29.55  %
GREAT-WEST BOND INDEX FUND
(Effective date 04/30/2018)
2020		96		$                11.61	to	$                11.67		$                1,117		1.54  %		0.49  %	to	0.69  %		6.41  %	to	6.69  %
2019		60		$                10.91	to	$                10.94		$                   653		1.22  %		0.49  %	to	0.69  %		7.34  %	to	7.56  %
2018		4		$                10.16	to	$                10.17		$                     36		0.66  %		0.49  %	to	0.65  %		1.63  %	to	1.75  %
GREAT-WEST CONSERVATIVE PROFILE FUND
(Effective date 04/30/2018)
2020		136		$                11.56	to	$                11.56		$                1,568		2.39  %		0.65  %	to	0.65  %		7.52  %	to	7.52  %
2019		72		$                10.75	to	$                10.75		$                   776		2.20  %		0.65  %	to	0.65  %		10.81  %	to	10.81  %
2018		72		$                  9.70	to	$                  9.70		$                   696		2.91  %		0.60  %	to	0.60  %		(2.98) %	to	(2.98) %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
GREAT-WEST INTERNATIONAL INDEX FUND
(Effective date 04/30/2019)
2020		13	$	11.39	to	$	11.39	$	152		12.48  %		0.65  %	to	0.69  %		6.78  %	to	6.85  %
2019		1	$	10.67		$	10.67	$	16		2.42  %		0.65  %	to	0.65  %		6.66  %	to	6.66  %
GREAT-WEST LIFETIME 2015 FUND
(Effective date 4/30/2018)
2020		4	$	12.09	to	$	12.09	$	50		1.98  %		0.65  %	to	0.65  %		10.28  %	to	10.28  %
GREAT-WEST LIFETIME 2020 FUND
(Effective date 4/30/2018)
2020		5	$	12.17	to	$	12.17	$	66		2.08  %		0.65  %	to	0.65  %		10.59  %	to	10.59  %
GREAT-WEST LIFETIME 2025 FUND
(Effective date 4/30/2018)
2020		4	$	12.34	to	$	12.34	$	48		0.32  %		0.65  %	to	0.65  %		11.51  %	to	11.51  %
GREAT-WEST LIFETIME 2030 FUND
(Effective date 4/30/2018)
2020		2	$	12.45	to	$	12.45	$	23		2.26  %		0.65  %	to	0.65  %		11.88  %	to	11.88  %
GREAT-WEST MID CAP VALUE FUND
(Effective date 04/29/2016)
2020		3	$	13.73	to	$	13.84	$	38		0.82  %		0.49  %	to	0.65  %		(0.99) %	to	(0.82) %
2019		3	$	13.87	to	$	13.95	$	38		0.18  %		0.49  %	to	0.65  %		19.72  %	to	19.91  %
2018		3	$	11.59	to	$	11.64	$	32		4.49  %		0.49  %	to	0.65  %		(12.88) %	to	(12.74) %
2017		3	$	13.30	to	$	13.33	$	37		9.12  %		0.49  %	to	0.65  %		16.23  %	to	16.41  %
GREAT-WEST MODERATE PROFILE FUND
(Effective date 04/30/2018)
2020		255	$	12.12	to	$	12.17	$	3,099		1.69  %		0.49  %	to	0.65  %		10.50  %	to	10.67  %
2019		246	$	10.97	to	$	11.00	$	2,707		1.43  %		0.49  %	to	0.65  %		16.76  %	to	16.94  %
2018		9	$	9.39	to	$	9.39	$	85		2.19  %		0.65  %	to	0.65  %		(6.06) %	to	(6.06) %
GREAT-WEST MODERATELY AGGRESSIVE PROFILE FUND
(Effective date 04/30/2018)
2020		8	$	12.28	to	$	12.28	$	104		2.19  %		0.65  %	to	0.65  %		11.06  %	to	11.06  %
2019		9	$	11.06	to	$	11.06	$	97		1.24  %		0.65  %	to	0.65  %		19.56  %	to	19.56  %
GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND
(Effective date 04/30/2018)
2020		130	$	11.81	to	$	11.81	$	1,534		1.56  %		0.65  %	to	0.65  %		8.83  %	to	8.83  %
2019		59	$	10.85	to	$	10.85	$	643		2.14  %		0.65  %	to	0.65  %		13.71  %	to	13.71  %
2018		20	$	9.54	to	$	9.54	$	191		1.95  %		0.65  %	to	0.65  %		(4.61) %	to	(4.61) %
GREAT-WEST MULTI-SECTOR BOND FUND
(Effective date 04/29/2016)
2020		93	$	12.59	to	$	12.80	$	1,193		3.62  %		0.49  %	to	0.85  %		8.17  %	to	8.59  %
2019		81	$	11.79	to	$	11.79	$	955		1.66  %		0.49  %	to	0.49  %		11.19  %	to	11.19  %
2018		82	$	10.61	to	$	10.61	$	871		3.08  %		0.49  %	to	0.49  %		(3.58) %	to	(3.58) %
2017		10	$	11.00	to	$	11.00	$	115		2.25  %		0.49  %	to	0.49  %		5.76  %	to	5.76  %
2016		1	$	10.40	to	$	10.40	$	11		0.59  %		0.49  %	to	0.49  %		4.01  %	to	4.01  %
GREAT-WEST REAL ESTATE INDEX FUND
(Effective date 04/30/2019)
2020		8	$	9.29	to	$	9.29	$	78		1.79  %		0.65  %	to	0.65  %		(12.14) %	to	(12.14) %
2019		8	$	10.57	to	$	10.57	$	89		0.00  %		0.65  %	to	0.65  %		5.73  %	to	5.73  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment      Income Ratio		Expense Ratio      (lowest to highest)				Total Return
GREAT-WEST SECUREFOUNDATION® BALANCED FUND
2020		1,239	$	15.06	to	$	15.42	$	18,891		2.32  %		0.49  %	to	0.85  %		12.97  %	to	13.39  %
2019		1,251	$	13.33	to	$	13.60	$	16,852		1.99  %		0.49  %	to	0.85  %		16.80  %	to	17.22  %
2018		1,259	$	11.41	to	$	11.52	$	14,496		1.99  %		0.65  %	to	0.85  %		(6.13) %	to	(5.94) %
2017		1,301	$	12.16	to	$	12.25	$	15,931		2.05  %		0.65  %	to	0.85  %		11.99  %	to	12.21  %
2016		1,001	$	10.86	to	$	10.91	$	10,921		2.04  %		0.65  %	to	0.85  %		7.80  %	to	8.02  %
GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND
(Effective date 04/28/2017)
2020		4	$	17.55	to	$	17.68	$	74		0.00  %		0.49  %	to	0.69  %		23.26  %	to	23.53  %
2019		14	$	14.25	to	$	14.31	$	201		0.01  %		0.49  %	to	0.65  %		30.43  %	to	30.64  %
2018		17	$	10.93	to	$	10.96	$	186		0.09  %		0.49  %	to	0.65  %		(2.97) %	to	(2.80) %
INVESCO OPPENHEIMER V.I. GLOBAL FUND
2020		32	$	53.41	to	$	19.94	$	1,195		0.76  %		0.49  %	to	0.85  %		26.57  %	to	27.00  %
2019		33	$	42.20	to	$	15.70	$	958		0.91  %		0.49  %	to	0.85  %		30.67  %	to	31.14  %
2018		38	$	32.30	to	$	11.97	$	962		0.96  %		0.49  %	to	0.85  %		(13.92) %	to	(13.61) %
2017		41	$	37.52	to	$	13.78	$	1,238		0.93  %		0.65  %	to	0.85  %		35.51  %	to	35.78  %
2016		40	$	27.69	to	$	10.15	$	945		1.07  %		0.65  %	to	0.85  %		(0.76) %	to	(0.57) %
INVESCO OPPENHEIMER V.I. INTERNATIONAL GROWTH FUND
2020		21	$	18.25	to	$	14.08	$	321		1.03  %		0.49  %	to	0.85  %		20.43  %	to	20.95  %
2019		25	$	15.15	to	$	11.64	$	317		1.11  %		0.49  %	to	0.85  %		27.52  %	to	27.97  %
2018		28	$	11.88	to	$	9.10	$	302		0.87  %		0.49  %	to	0.85  %		(20.10) %	to	(19.81) %
2017		28	$	14.87	to	$	11.35	$	386		1.48  %		0.49  %	to	0.85  %		25.22  %	to	25.67  %
2016		25	$	11.87	to	$	9.03	$	276		1.16  %		0.49  %	to	0.85  %		(2.94) %	to	(2.60) %
INVESCO OPPENHEIMER V.I. MAIN STREET SMALL CAP FUND
2020		10	$	17.89	to	$	18.32	$	182		0.66  %		0.49  %	to	0.85  %		18.90  %	to	19.37  %
2019		6	$	15.05	to	$	15.35	$	84		0.16  %		0.49  %	to	0.85  %		25.40  %	to	25.86  %
2018		7	$	12.15	to	$	12.19	$	83		0.29  %		0.49  %	to	0.85  %		(11.09)  %	to	(10.80)  %
2017		6	$	13.50	to	$	13.67	$	81		0.91  %		0.49  %	to	0.85  %		13.19  %	to	13.60  %
2016		6	$	12.07	to	$	12.03	$	70		0.51  %		0.49  %	to	0.85  %		17.05  %	to	17.47  %
INVESCO V.I. COMSTOCK FUND
2020		9	$	25.24	to	$	22.61	$	210		1.82  %		0.65  %	to	0.85  %		(1.69) %	to	(1.50) %
2019		22	$	25.67	to	$	14.52	$	451		1.92  %		0.65  %	to	0.85  %		24.24  %	to	24.49  %
2018		22	$	20.66	to	$	11.67	$	361		1.65  %		0.65  %	to	0.85  %		(12.91) %	to	(12.73) %
2017		20	$	23.73	to	$	13.45	$	416		1.79  %		0.49  %	to	0.85  %		16.85  %	to	17.28  %
2016		28	$	20.30	to	$	11.47	$	499		1.55  %		0.49  %	to	0.85  %		16.31  %	to	16.73  %
INVESCO V.I. CORE EQUITY FUND
2020		3	$	39.87	to	$	39.87	$	129		1.49  %		0.85  %	to	0.85  %		12.87  %	to	12.87  %
2019		3	$	35.32	to	$	35.32	$	114		0.94  %		0.85  %	to	0.85  %		27.87  %	to	27.87  %
2018		3	$	27.62	to	$	27.62	$	92		0.80  %		0.85  %	to	0.85  %		(10.16) %	to	(10.16) %
2017		4	$	30.74	to	$	30.74	$	137		1.04  %		0.85  %	to	0.85  %		12.22  %	to	12.22  %
2016		5	$	27.39	to	$	27.39	$	129		0.77  %		0.85  %	to	0.85  %		9.33  %	to	9.33  %
INVESCO V.I. GROWTH & INCOME FUND
2020		25	$	26.87	to	$	15.11	$	539		2.34  %		0.49  %	to	0.85  %		1.24  %	to	1.62  %
2019		32	$	26.54	to	$	14.87	$	703		1.03  %		0.49  %	to	0.85  %		24.13  %	to	24.57  %
2018		83	$	21.38	to	$	11.94	$	1,325		2.16  %		0.49  %	to	0.85  %		(14.12) %	to	(13.81) %
2017		70	$	24.90	to	$	13.85	$	1,401		1.66  %		0.49  %	to	0.85  %		13.35  %	to	13.76  %
2016		68	$	21.97	to	$	12.18	$	1,159		1.14  %		0.49  %	to	0.85  %		18.68  %	to	19.12  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
INVESCO V.I. HIGH YIELD FUND
2020		11	$	25.82	to	$	12.28	$	134		6.54  %		0.49  %	to	0.85  %		2.46  %	to	2.79  %
2019		10	$	25.20	to	$	11.95	$	131		4.87  %		0.49  %	to	0.85  %		12.55  %	to	12.95  %
2018		13	$	22.39	to	$	10.58	$	169		5.31  %		0.49  %	to	0.85  %		(4.18) %	to	(3.83) %
2017		12	$	23.37	to	$	11.00	$	162		3.80  %		0.49  %	to	0.85  %		5.40  %	to	5.79  %
2016		9	$	22.17	to	$	10.40	$	122		4.23  %		0.49  %	to	0.85  %		10.28  %	to	10.67  %
INVESCO V.I. INTERNATIONAL GROWTH FUND
2020		28	$	19.72	to	$	16.94	$	529		2.59  %		0.65  %	to	0.85  %		13.03  %	to	13.28  %
2019		31	$	11.98	to	$	14.95	$	507		1.58  %		0.65  %	to	0.85  %		27.48  %	to	27.74  %
2018		31	$	9.40	to	$	11.71	$	405		2.07  %		0.65  %	to	0.85  %		(15.73) %	to	(15.53) %
2017		35	$	16.23	to	$	11.30	$	522		1.44  %		0.49  %	to	0.85  %		21.96  %	to	22.40  %
2016		45	$	13.31	to	$	9.23	$	538		1.52  %		0.49  %	to	0.85  %		(1.29) %	to	(0.93) %
INVESCO V.I. MID CAP CORE EQUITY FUND
2020		4	$	27.52	to	$	28.17	$	115		0.80  %		0.65  %	to	0.85  %		8.34  %	to	8.54  %
2019		3	$	25.40	to	$	25.95	$	85		0.47  %		0.65  %	to	0.85  %		24.21  %	to	24.47  %
2018		4	$	20.45	to	$	20.85	$	75		0.52  %		0.65  %	to	0.85  %		(12.10) %	to	(11.92) %
2017		4	$	23.27	to	$	23.67	$	93		0.63  %		0.65  %	to	0.85  %		13.95  %	to	14.17  %
2016		4	$	20.42	to	$	10.74	$	68		0.08  %		0.65  %	to	0.85  %		12.48  %	to	12.71  %
INVESCO V.I. SMALL CAP EQUITY FUND
2020		5	$	37.53	to	$	16.90	$	116		0.40  %		0.49  %	to	0.85  %		26.16  %	to	26.57  %
2019		5	$	29.75	to	$	13.35	$	92		0.00  %		0.49  %	to	0.85  %		25.53  %	to	25.98  %
2018		8	$	23.70	to	$	10.60	$	106		0.00  %		0.49  %	to	0.85  %		(15.81) %	to	(15.53) %
2017		3	$	28.15	to	$	12.55	$	69		0.00  %		0.49  %	to	0.85  %		13.10  %	to	13.51  %
2016		2	$	24.89	to	$	11.05	$	39		0.00  %		0.49  %	to	0.85  %		11.12  %	to	11.51  %
INVESCO V.I. TECHNOLOGY FUND
2020		30	$	29.96	to	$	11.07	$	352		0.00  %		0.85  %	to	0.85  %		44.88  %	to	44.85  %
2019		31	$	7.64	to	$	7.64	$	235		0.00  %		0.85  %	to	0.85  %		34.73  %	to	34.73  %
2018		46	$	5.67	to	$	15.35	$	274		0.00  %		0.85  %	to	0.85  %		(1.31) %	to	(1.30) %
2017		50	$	15.55	to	$	5.74	$	303		0.00  %		0.85  %	to	0.85  %		33.99  %	to	33.99  %
2016		52	$	11.61	to	$	4.29	$	229		0.00  %		0.85  %	to	0.85  %		(1.59) %	to	(1.58) %
IVY VIP INTERNATIONAL CORE EQUITY
2020		14	$	11.33	to	$	11.44	$	160		3.14  %		0.49  %	to	0.65  %		6.52  %	to	6.68  %
2019		60	$	10.64	to	$	10.72	$	646		1.68  %		0.49  %	to	0.65  %		17.93  %	to	18.11  %
2018		10	$	9.02	to	$	9.08	$	91		0.66  %		0.49  %	to	0.65  %		(18.35) %	to	(18.22) %
2017		4	$	11.10	to	$	11.10	$	44		0.75  %		0.49  %	to	0.49  %		22.56  %	to	22.56  %
2016		1	$	9.06	to	$	9.06	$	9		0.87  %		0.49  %	to	0.49  %		0.59  %	to	0.59  %
JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES
2020		10	$	39.32	to	$	17.77	$	311		2.76  %		0.49  %	to	0.85  %		13.35  %	to	13.79  %
2019		7	$	34.69	to	$	15.62	$	226		1.44  %		0.49  %	to	0.85  %		21.55  %	to	21.99  %
2018		18	$	28.54	to	$	28.54	$	506		2.17  %		0.85  %	to	0.85  %		(0.18) %	to	(0.18) %
2017		19	$	28.59	to	$	28.59	$	534		1.62  %		0.85  %	to	0.85  %		17.43  %	to	17.43  %
2016		19	$	24.35	to	$	24.35	$	455		2.24  %		0.85  %	to	0.85  %		3.72  %	to	3.72  %
JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES
2020		200	$	27.46	to	$	17.30	$	4,124		2.56  %		0.65  %	to	0.85  %		13.04  %	to	13.29  %
2019		177	$	24.29	to	$	15.27	$	3,344		1.77  %		0.65  %	to	0.85  %		21.24  %	to	21.48  %
2018		141	$	20.03	to	$	12.57	$	2,316		1.79  %		0.65  %	to	0.85  %		(0.42) %	to	(0.22) %
2017		131	$	20.12	to	$	12.60	$	2,213		1.39  %		0.65  %	to	0.85  %		17.14  %	to	17.37  %
2016		126	$	17.17	to	$	10.73	$	1,857		1.94  %		0.65  %	to	0.85  %		3.45  %	to	3.65  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES
2020		171	$	26.55	to	$	12.46	$	2,283		3.12  %		0.49  %	to	0.85  %		9.55  %	to	9.98  %
2019		183	$	24.24	to	$	11.33	$	2,262		3.46  %		0.49  %	to	0.85  %		8.65  %	to	9.03  %
2018		157	$	22.31	to	$	10.39	$	1,823		3.60  %		0.49  %	to	0.85  %		(1.84) %	to	(1.49) %
2017		48	$	22.73	to	$	10.55	$	722		2.94  %		0.49  %	to	0.85  %		2.74  %	to	3.12  %
2016		51	$	22.12	to	$	10.23	$	757		3.17  %		0.49  %	to	0.85  %		1.60  %	to	1.96  %
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES
2020		88	$	18.08	to	$	17.40	$	1,518		2.52  %		0.65  %	to	0.85  %		9.32  %	to	9.59  %
2019		107	$	10.95	to	$	15.88	$	1,700		2.63  %		0.65  %	to	0.85  %		8.36  %	to	8.57  %
2018		134	$	15.27	to	$	10.20	$	1,979		2.67  %		0.65  %	to	0.85  %		(2.13) %	to	(1.92) %
2017		145	$	15.60	to	$	10.40	$	2,189		2.45  %		0.65  %	to	0.85  %		2.48  %	to	2.69  %
2016		164	$	15.22	to	$	10.13	$	2,421		2.30  %		0.65  %	to	0.85  %		1.36  %	to	1.56  %
JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO
2020		27	$	37.47	to	$	18.12	$	738		0.91  %		0.65  %	to	0.85  %		19.04  %	to	19.28  %
2019		26	$	31.48	to	$	15.33	$	623		0.97  %		0.49  %	to	0.85  %		27.95  %	to	28.42  %
2018		27	$	24.60	to	$	11.94	$	501		1.12  %		0.49  %	to	0.85  %		(7.66) %	to	(7.33) %
2017		23	$	26.64	to	$	12.81	$	489		0.78  %		0.65  %	to	0.85  %		25.95  %	to	26.21  %
2016		25	$	21.15	to	$	10.19	$	431		1.08  %		0.49  %	to	0.85  %		1.21  %	to	1.58  %
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES
2020		7	$	39.85	to	$	40.38	$	280		0.00  %		0.49  %	to	0.69  %		50.16  %	to	50.48  %
2019		4	$	26.83	to	$	26.83	$	107		0.49  %		0.49  %	to	0.49  %		44.47  %	to	44.47  %
2018		9	$	18.41	to	$	18.58	$	160		0.96  %		0.49  %	to	0.69  %		0.49  %	to	0.69  %
2017		5	$	18.32	to	$	18.45	$	87		0.00  %		0.49  %	to	0.69  %		44.10  %	to	44.38  %
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES
2020		12	$	38.81	to	$	39.32	$	490		0.00  %		0.65  %	to	0.85  %		49.43  %	to	49.75  %
2019		9	$	25.97	to	$	27.18	$	248		0.55  %		0.65  %	to	0.85  %		43.59  %	to	43.88  %
2018		14	$	18.71	to	$	18.25	$	254		1.01  %		0.65  %	to	0.85  %		0.05  %	to	0.25  %
2017		12	$	18.70	to	$	18.20	$	223		0.00  %		0.65  %	to	0.85  %		43.69  %	to	43.98  %
JANUS HENDERSON OVERSEAS PORTFOLIO INSTITUTIONAL SHARES
2020		2	$	32.33	to	$	32.33	$	55		1.50  %		0.85  %	to	0.85  %		15.31  %	to	15.31  %
2019		2	$	28.04	to	$	28.04	$	48		1.78  %		0.85  %	to	0.85  %		25.94  %	to	25.94  %
2018		3	$	22.26	to	$	22.26	$	57		1.72  %		0.85  %	to	0.85  %		(15.67) %	to	(15.67) %
2017		3	$	26.40	to	$	26.40	$	86		1.65  %		0.85  %	to	0.85  %		30.01  %	to	30.01  %
2016		4	$	20.30	to	$	20.30	$	89		4.99  %		0.85  %	to	0.85  %		(7.24) %	to	(7.24) %
JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES
2020		17	$	12.17	to	$	12.17	$	206		1.35  %		0.85  %	to	0.85  %		15.03  %	to	15.03  %
2019		16	$	10.58	to	$	10.58	$	168		1.88  %		0.85  %	to	0.85  %		25.64  %	to	25.64  %
2018		25	$	8.42	to	$	8.42	$	212		1.82  %		0.85  %	to	0.85  %		(15.86) %	to	(15.86) %
2017		28	$	10.01	to	$	10.01	$	284		1.57  %		0.85  %	to	0.85  %		29.69  %	to	29.69  %
2016		32	$	7.72	to	$	7.72	$	244		4.70  %		0.85  %	to	0.85  %		(7.49) %	to	(7.49) %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
JANUS HENDERSON VIT RESEARCH PORTFOLIO
2020		8	$	58.01	to	$	58.01	$	444		0.59  %		0.85  %	to	0.85  %		31.83  %	to	31.83  %
2019		8	$	44.00	to	$	44.00	$	343		0.46  %		0.85  %	to	0.85  %		34.37  %	to	34.37  %
2018		8	$	32.74	to	$	32.74	$	259		0.55  %		0.85  %	to	0.85  %		(3.40) %	to	(3.40) %
2017		8	$	33.90	to	$	33.90	$	271		0.39  %		0.85  %	to	0.85  %		26.80  %	to	26.80  %
2016		10	$	26.73	to	$	26.73	$	267		0.54  %		0.85  %	to	0.85  %		(0.35) %	to	(0.35) %
JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO
2020		2	$	16.88	to	$	17.28	$	37		1.04  %		0.49  %	to	0.85  %		12.73  %	to	13.08  %
2019		2	$	14.97	to	$	15.28	$	33		0.40  %		0.49  %	to	0.85  %		23.52  %	to	23.97  %
2018		2	$	12.12	to	$	12.32	$	27		0.38  %		0.49  %	to	0.85  %		(12.68) %	to	(12.36) %
2017		2	$	13.88	to	$	14.06	$	33		0.33  %		0.49  %	to	0.85  %		14.26  %	to	14.66  %
2016		2	$	12.15	to	$	12.26	$	30		0.31  %		0.49  %	to	0.85  %		19.20  %	to	19.63  %
LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO
2020		59	$	18.08	to	$	10.16	$	913		2.90  %		0.49  %	to	0.85  %		(2.11) %	to	(1.75) %
2019		59	$	18.47	to	$	10.34	$	917		0.83  %		0.49  %	to	0.85  %		17.14  %	to	17.56  %
2018		78	$	15.77	to	$	8.80	$	1,041		1.92  %		0.49  %	to	0.85  %		(19.25) %	to	(18.96) %
2017		74	$	19.53	to	$	10.85	$	1,243		1.96  %		0.49  %	to	0.85  %		26.75  %	to	27.20  %
2016		56	$	15.41	to	$	8.53	$	800		1.03  %		0.49  %	to	0.85  %		19.76  %	to	20.20  %
LORD ABBETT SERIES SHORT DURATION INCOME PORTFOLIO
(Effective date 4/30/2020)
2020		1	$	10.55	to	$	10.55	$	14		3.24  %		0.69  %	to	0.69  %		5.46  %	to	5.46  %
LVIP BARON GROWTH OPPORTUNITIES FUND
2020		31	$	78.20	to	$	23.38	$	1,745		0.00  %		0.49  %	to	0.85  %		32.95  %	to	33.42  %
2019		30	$	58.82	to	$	17.52	$	1,497		0.00  %		0.49  %	to	0.85  %		35.23  %	to	35.73  %
2018		30	$	43.50	to	$	12.91	$	1,163		0.00  %		0.49  %	to	0.85  %		(4.75) %	to	(4.40) %
2017		37	$	45.67	to	$	13.50	$	1,505		0.00  %		0.49  %	to	0.85  %		26.16  %	to	26.62  %
2016		42	$	36.20	to	$	10.66	$	1,401		0.54  %		0.49  %	to	0.85  %		4.68  %	to	5.05  %
MFS VIT UTILITIES SERIES
2020		24	$	20.23	to	$	14.07	$	446		2.44  %		0.49  %	to	0.85  %		4.74  %	to	5.09  %
2019		26	$	19.31	to	$	13.39	$	452		3.73  %		0.49  %	to	0.85  %		23.74  %	to	24.19  %
2018		23	$	10.61	to	$	15.94	$	367		1.12  %		0.65  %	to	0.85  %		(0.05) %	to	0.15  %
2017		18	$	15.61	to	$	15.92	$	277		4.12  %		0.65  %	to	0.85  %		13.52  %	to	13.76  %
2016		18	$	13.75	to	$	13.99	$	249		3.59  %		0.65  %	to	0.85  %		10.30  %	to	10.52  %
MFS VIT II INTERNATIONAL INTRINSIC VALUE PORTFOLIO
2020		51	$	36.44	to	$	17.87	$	1,432		0.85  %		0.49  %	to	0.85  %		19.19  %	to	19.64  %
2019		59	$	30.57	to	$	14.94	$	1,470		1.27  %		0.49  %	to	0.85  %		24.59  %	to	25.05  %
2018		82	$	24.54	to	$	11.95	$	1,590		0.88  %		0.49  %	to	0.85  %		(10.49) %	to	(10.17) %
2017		91	$	27.41	to	$	13.30	$	2,110		1.23  %		0.49  %	to	0.85  %		25.75  %	to	26.20  %
2016		58	$	21.80	to	$	10.54	$	1,201		1.13  %		0.49  %	to	0.85  %		2.96  %	to	3.33  %
MFS VIT III MID CAP VALUE PORTFOLIO
(Effective date 04/28/2017)
2020		18	$	12.93	to	$	13.01	$	237		1.34  %		0.49  %	to	0.65  %		3.22  %	to	3.32  %
2019		19	$	12.53	to	$	12.59	$	241		1.30  %		0.49  %	to	0.65  %		30.27  %	to	30.48  %
2018		20	$	9.62	to	$	9.65	$	191		1.19  %		0.49  %	to	0.65  %		(12.03) %	to	(11.88) %
2017		2	$	10.94	to	$	10.95	$	23		0.11  %		0.49  %	to	0.65  %		9.35  %	to	9.47  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO
2020		11	$	45.31	to	$	45.31	$	488		2.94  %		0.85  %	to	0.85  %		(17.56) %	to	(17.56) %
2019		12	$	54.96	to	$	54.96	$	681		1.92  %		0.85  %	to	0.85  %		17.93  %	to	17.93  %
2018		17	$	46.60	to	$	46.60	$	780		2.67  %		0.85  %	to	0.85  %		(8.50) %	to	(8.50) %
2017		18	$	50.93	to	$	50.93	$	937		1.54  %		0.85  %	to	0.85  %		2.24  %	to	2.24  %
2016		22	$	49.82	to	$	49.82	$	1,087		1.29  %		0.85  %	to	0.85  %		5.91  %	to	5.91  %
NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO
2020		40	$	18.34	to	$	18.34	$	736		0.22  %		0.85  %	to	0.85  %		(3.66) %	to	(3.66) %
2019		1	$	19.04	to	$	19.04	$	16		0.23  %		0.85  %	to	0.85  %		15.45  %	to	15.45  %
2018		1	$	16.49	to	$	16.49	$	14		0.23  %		0.85  %	to	0.85  %		(16.20) %	to	(16.20) %
2017		1	$	19.68	to	$	19.68	$	19		0.49  %		0.85  %	to	0.85  %		15.36  %	to	15.36  %
2016		1	$	17.06	to	$	17.06	$	17		0.25  %		0.85  %	to	0.85  %		15.01  %	to	15.01  %
NVIT MID CAP INDEX FUND
2020		44	$	46.79	to	$	17.30	$	1,141		1.07  %		0.49  %	to	0.85  %		11.88  %	to	12.25  %
2019		47	$	41.82	to	$	15.41	$	1,060		1.17  %		0.49  %	to	0.85  %		24.35  %	to	24.80  %
2018		49	$	33.63	to	$	12.34	$	970		1.17  %		0.49  %	to	0.85  %		(12.32) %	to	(12.00) %
2017		42	$	38.36	to	$	14.03	$	1,057		0.92  %		0.49  %	to	0.85  %		14.60  %	to	15.01  %
2016		40	$	33.47	to	$	12.20	$	938		1.10  %		0.49  %	to	0.85  %		19.00  %	to	19.43  %
PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO
2020		21	$	5.95	to	$	6.11	$	128		6.97  %		0.49  %	to	0.85  %		0.49  %	to	0.93  %
2019		20	$	5.99	to	$	6.05	$	123		4.51  %		0.49  %	to	0.69  %		10.66  %	to	10.90  %
2018		20	$	5.41	to	$	5.46	$	110		2.06  %		0.49  %	to	0.69  %		(14.73) %	to	(14.55) %
2017		21	$	6.35	to	$	6.39	$	132		7.36  %		0.49  %	to	0.69  %		1.47  %	to	1.65  %
2016		2	$	6.25	to	$	6.29	$	10		1.11  %		0.49  %	to	0.69  %		14.37  %	to	14.58  %
PIMCO VIT EMERGING MARKETS BOND PORTFOLIO
(Effective date 04/28/2017)
2020		9	$	11.89	to	$	11.89	$	102		5.03  %		0.49  %	to	0.49  %		6.20  %	to	6.20  %
2019		2	$	11.20	to	$	11.20	$	21		4.42  %		0.49  %	to	0.49  %		14.20  %	to	14.20  %
2018		2	$	9.81	to	$	9.81	$	19		3.40  %		0.49  %	to	0.49  %		(5.20) %	to	(5.20) %
PIMCO VIT HIGH YIELD PORTFOLIO
2020		116	$	26.06	to	$	13.41	$	1,885		5.22  %		0.49  %	to	0.85  %		4.85  %	to	5.24  %
2019		115	$	24.85	to	$	12.74	$	1,773		4.90  %		0.49  %	to	0.85  %		13.75  %	to	14.19  %
2018		51	$	21.85	to	$	11.16	$	920		5.09  %		0.49  %	to	0.85  %		(3.48) %	to	(3.13) %
2017		46	$	22.63	to	$	11.52	$	912		4.84  %		0.49  %	to	0.85  %		5.71  %	to	6.08  %
2016		43	$	21.41	to	$	10.86	$	817		4.86  %		0.49  %	to	0.85  %		11.46  %	to	11.90  %
PIMCO VIT LOW DURATION PORTFOLIO
2020		263	$	14.00	to	$	10.70	$	3,301		1.30  %		0.49  %	to	0.85  %		2.11  %	to	2.47  %
2019		267	$	13.71	to	$	10.44	$	3,316		2.75  %		0.49  %	to	0.85  %		3.14  %	to	3.52  %
2018		249	$	13.29	to	$	10.08	$	3,033		1.92  %		0.49  %	to	0.85  %		(0.51) %	to	(0.15) %
2017		252	$	13.36	to	$	10.10	$	3,085		1.34  %		0.49  %	to	0.85  %		0.50  %	to	0.85  %
2016		268	$	13.29	to	$	10.01	$	3,308		1.49  %		0.49  %	to	0.85  %		0.54  %	to	0.92  %
PIMCO VIT REAL RETURN PORTFOLIO
2020		20	$	11.85	to	$	11.81	$	231		1.55  %		0.49  %	to	0.85  %		10.78  %	to	11.19  %
2019		13	$	10.70	to	$	10.62	$	136		1.66  %		0.49  %	to	0.85  %		7.52  %	to	7.90  %
2018		13	$	9.95	to	$	9.84	$	129		2.56  %		0.49  %	to	0.85  %		(3.04) %	to	(2.69) %
2017		13	$	10.27	to	$	10.12	$	132		2.24  %		0.49  %	to	0.85  %		2.78  %	to	3.15  %
2016		9	$	9.76	to	$	9.81	$	92		2.45  %		0.49  %	to	0.69  %		4.48  %	to	4.67  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
PIMCO VIT TOTAL RETURN PORTFOLIO
2020		311	$	19.01	to	$	12.41	$	4,822		2.31  %		0.49  %	to	0.85  %		7.74  %	to	8.08  %
2019		338	$	17.64	to	$	11.48	$	4,830		3.00  %		0.49  %	to	0.85  %		7.44  %	to	7.84  %
2018		301	$	16.42	to	$	10.64	$	4,126		2.55  %		0.49  %	to	0.85  %		(1.38) %	to	(1.02) %
2017		279	$	16.65	to	$	10.75	$	4,012		2.02  %		0.49  %	to	0.85  %		4.03  %	to	4.41  %
2016		264	$	16.01	to	$	10.30	$	3,764		2.07  %		0.49  %	to	0.85  %		1.81  %	to	2.18  %
PIONEER FUND VCT PORTFOLIO
2020		26	$	42.09	to	$	22.19	$	711		0.84  %		0.49  %	to	0.85  %		23.22  %	to	23.68  %
2019		24	$	34.16	to	$	17.94	$	535		0.71  %		0.49  %	to	0.85  %		30.22  %	to	30.69  %
2018		7	$	26.23	to	$	18.65	$	146		1.14  %		0.65  %	to	0.85  %		(2.35) %	to	(2.15) %
2017		7	$	26.86	to	$	19.06	$	150		1.16  %		0.65  %	to	0.85  %		20.69  %	to	20.93  %
2016		8	$	22.26	to	$	15.76	$	152		1.33  %		0.65  %	to	0.85  %		8.89  %	to	9.10  %
PIONEER MID CAP VALUE VCT PORTFOLIO
2020		6	$	19.95	to	$	18.69	$	128		0.88  %		0.85  %	to	0.85  %		1.01  %	to	1.01  %
2019		8	$	19.75	to	$	18.94	$	167		1.04  %		0.65  %	to	0.85  %		27.00  %	to	27.25  %
2018		9	$	15.55	to	$	14.88	$	138		0.45  %		0.65  %	to	0.85  %		(20.18) %	to	(20.02) %
2017		9	$	19.49	to	$	18.61	$	165		0.61  %		0.65  %	to	0.85  %		11.92  %	to	12.13  %
2016		8	$	17.41	to	$	16.59	$	146		0.48  %		0.65  %	to	0.85  %		15.24  %	to	15.48  %
PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO
2020		6	$	54.81	to	$	24.49	$	273		0.00  %		0.49  %	to	0.85  %		38.00  %	to	38.53  %
2019		6	$	39.72	to	$	17.68	$	188		0.00  %		0.49  %	to	0.85  %		31.96  %	to	32.43  %
2018		12	$	30.10	to	$	13.35	$	216		0.00  %		0.49  %	to	0.85  %		(7.28) %	to	(6.94) %
2017		13	$	32.47	to	$	14.35	$	268		0.08  %		0.49  %	to	0.85  %		28.93  %	to	29.40  %
2016		8	$	25.18	to	$	11.09	$	155		0.00  %		0.49  %	to	0.85  %		2.86  %	to	3.23  %
PRUDENTIAL SERIES FUND EQUITY PORTFOLIO
2020		5	$	42.93	to	$	34.14	$	178		0.00  %		0.85  %	to	0.85  %		27.42  %	to	27.40  %
2019		7	$	33.69	to	$	33.69	$	192		0.00  %		0.85  %	to	0.85  %		27.27  %	to	27.27  %
2018		7	$	26.47	to	$	21.05	$	163		0.00  %		0.85  %	to	0.85  %		(6.03) %	to	(6.04) %
2017		14	$	28.17	to	$	13.63	$	290		0.00  %		0.49  %	to	0.85  %		24.23  %	to	24.68  %
2016		17	$	22.68	to	$	10.93	$	270		0.00  %		0.49  %	to	0.85  %		2.48  %	to	2.84  %
PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO
2020		2	$	10.21	to	$	10.21	$	19		0.00  %		0.85  %	to	0.85  %		10.84  %	to	10.84  %
2019		2	$	9.21	to	$	9.21	$	17		0.00  %		0.85  %	to	0.85  %		9.32  %	to	9.32  %
2018		2	$	8.42	to	$	8.42	$	15		0.00  %		0.85  %	to	0.85  %		(19.11) %	to	(19.11) %
2017		2	$	10.41	to	$	10.41	$	19		0.00  %		0.85  %	to	0.85  %		(1.38) %	to	(1.38) %
2016		2	$	10.56	to	$	10.56	$	19		0.00  %		0.85  %	to	0.85  %		23.77  %	to	23.77  %
PUTNAM VT EQUITY INCOME FUND
2020		35	$	29.20	to	$	17.06	$	757		1.92  %		0.49  %	to	0.85  %		4.92  %	to	5.28  %
2019		49	$	27.83	to	$	16.20	$	1,003		1.57  %		0.49  %	to	0.85  %		29.30  %	to	29.77  %
2018		37	$	21.53	to	$	12.48	$	625		0.67  %		0.49  %	to	0.85  %		(9.27) %	to	(8.94) %
2017		41	$	23.73	to	$	13.71	$	796		1.68  %		0.49  %	to	0.85  %		17.77  %	to	18.19  %
2016		47	$	20.15	to	$	11.60	$	800		1.90  %		0.49  %	to	0.85  %		12.69  %	to	13.09  %
PUTNAM VT GLOBAL ASSET ALLOCATION FUND
(Effective date 04/29/2016)
2020		12	$	14.56	to	$	14.70	$	172		2.27  %		0.65  %	to	0.85  %		11.66  %	to	11.85  %
2019		12	$	13.04	to	$	13.14	$	153		1.02  %		0.65  %	to	0.85  %		16.42  %	to	16.66  %
2018		7	$	11.26	to	$	11.26	$	77		2.07  %		0.65  %	to	0.65  %		(7.63) %	to	(7.63) %
2017		7	$	12.19	to	$	12.19	$	84		0.00  %		0.65  %	to	0.65  %		14.92  %	to	14.92  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment      Income Ratio		Expense Ratio      (lowest to highest)				Total Return
PUTNAM VT GLOBAL HEALTH CARE FUND
2020		22	$	29.13	to	$	19.05	$	530		0.49  %		0.49  %	to	0.85  %		15.27  %	to	15.73  %
2019		24	$	25.27	to	$	16.46	$	509		0.00  %		0.49  %	to	0.85  %		29.19  %	to	29.66  %
2018		28	$	19.56	to	$	12.70	$	491		0.92  %		0.49  %	to	0.85  %		(1.44) %	to	(1.08) %
2017		28	$	19.84	to	$	12.84	$	511		0.52  %		0.49  %	to	0.85  %		14.32  %	to	14.74  %
2016		32	$	17.36	to	$	11.19	$	519		0.00  %		0.49  %	to	0.85  %		(12.10) %	to	(11.79) %
PUTNAM VT INCOME FUND
2020		37	$	12.03	to	$	12.17	$	442		5.24  %		0.49  %	to	0.69  %		5.28  %	to	5.47  %
2019		17	$	11.45	to	$	11.54	$	201		3.41  %		0.49  %	to	0.65  %		11.52  %	to	11.70  %
2018		18	$	10.33	to	$	10.33	$	186		3.21  %		0.49  %	to	0.49  %		(0.13) %	to	(0.13) %
2017		18	$	10.34	to	$	10.34	$	189		0.00  %		0.49  %	to	0.49  %		5.39  %	to	5.39  %
PUTNAM VT INTERNATIONAL VALUE FUND
2020		6	$	11.44	to	$	11.44	$	65		3.26  %		0.49  %	to	0.49  %		3.72  %	to	3.72  %
2019		6	$	11.03	to	$	11.03	$	68		3.32  %		0.49  %	to	0.49  %		19.85  %	to	19.85  %
2018		8	$	9.20	to	$	9.20	$	71		2.21  %		0.49  %	to	0.49  %		(17.79) %	to	(17.79) %
2017		7	$	11.19	to	$	11.19	$	80		1.42  %		0.49  %	to	0.49  %		24.45  %	to	24.45  %
2016		4	$	8.99	to	$	8.99	$	38		0.00  %		0.49  %	to	0.49  %		0.80  %	to	0.80  %
PUTNAM VT MORTGAGE SECURITIES FUND
2020		54	$	11.90	to	$	10.97	$	606		10.11  %		0.49  %	to	0.85  %		(2.40) %	to	(2.03) %
2019		61	$	12.19	to	$	11.20	$	708		1.95  %		0.49  %	to	0.85  %		12.25  %	to	12.64  %
2018		47	$	10.86	to	$	9.94	$	485		2.72  %		0.49  %	to	0.85  %		(1.76) %	to	(1.39) %
2017		48	$	11.05	to	$	10.08	$	503		1.18  %		0.49  %	to	0.85  %		1.11  %	to	1.46  %
2016		33	$	10.93	to	$	9.94	$	366		2.13  %		0.49  %	to	0.85  %		(0.65) %	to	(0.28) %
PUTNAM VT MULTI-CAP CORE FUND
2020		8	$	20.26	to	$	20.26	$	167		0.74  %		0.65  %	to	0.65  %		16.87  %	to	16.87  %
2019		5	$	17.34	to	$	17.49	$	95		1.34  %		0.49  %	to	0.65  %		31.15  %	to	31.36  %
2018		5	$	13.22	to	$	13.32	$	73		1.37  %		0.49  %	to	0.65  %		(8.05) %	to	(7.90) %
2017		8	$	14.74	to	$	14.46	$	123		1.36  %		0.49  %	to	0.65  %		22.35  %	to	22.54  %
2016		11	$	12.05	to	$	11.80	$	126		1.50  %		0.49  %	to	0.65  %		11.62  %	to	11.80  %
ROYCE CAPITAL FUND—SMALL-CAP PORTFOLIO
2020		4	$	24.06	to	$	11.39	$	100		0.95  %		0.49  %	to	0.85  %		(8.10) %	to	(7.81) %
2019		4	$	26.18	to	$	12.35	$	91		0.40  %		0.49  %	to	0.85  %		17.43  %	to	17.86  %
2018		5	$	22.30	to	$	10.48	$	99		0.29  %		0.49  %	to	0.85  %		(9.28) %	to	(8.94) %
2017		5	$	24.58	to	$	11.50	$	118		0.74  %		0.49  %	to	0.85  %		4.22  %	to	4.59  %
2016		5	$	23.58	to	$	23.95	$	128		1.70  %		0.65  %	to	0.85  %		19.52  %	to	19.75  %
SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO
2020		829	$	12.63	to	$	10.09	$	9,414		0.30  %		0.49  %	to	0.85  %		(0.59) %	to	(0.16) %
2019		657	$	12.70	to	$	10.11	$	7,892		1.88  %		0.49  %	to	0.85  %		1.04  %	to	1.41  %
2018		710	$	12.57	to	$	9.97	$	8,301		1.55  %		0.49  %	to	0.85  %		0.66  %	to	1.03  %
2017		470	$	12.48	to	$	9.87	$	5,523		0.45  %		0.49  %	to	0.85  %		(0.41) %	to	(0.05) %
2016		474	$	12.53	to	$	9.88	$	5,643		0.01  %		0.49  %	to	0.85  %		(0.83) %	to	(0.47) %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
SCHWAB S&P 500 INDEX PORTFOLIO
2020		762	$	54.39	to	$	21.45	$	22,796		1.20  %		0.49  %	to	0.85  %		17.27  %	to	17.67  %
2019		909	$	46.38	to	$	18.23	$	22,537		1.72  %		0.49  %	to	0.85  %		30.37  %	to	30.83  %
2018		877	$	35.57	to	$	13.93	$	18,992		1.65  %		0.49  %	to	0.85  %		(5.22) %	to	(4.87) %
2017		665	$	37.53	to	$	14.64	$	17,442		1.63  %		0.49  %	to	0.85  %		20.70  %	to	21.13  %
2016		615	$	31.10	to	$	12.09	$	14,205		1.77  %		0.49  %	to	0.85  %		10.74  %	to	11.14  %
SCHWAB VIT BALANCED PORTFOLIO
(Effective date 04/29/2016)
2020		8	$	12.85	to	$	12.97	$	99		1.70  %		0.49  %	to	0.69  %		7.45  %	to	7.74  %
2019		17	$	11.96	to	$	12.04	$	205		1.93  %		0.49  %	to	0.69  %		13.46  %	to	13.69  %
2018		9	$	10.59	to	$	10.59	$	91		1.34  %		0.49  %	to	0.49  %		(5.10) %	to	(5.10) %
SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO
(Effective date 04/29/2016)
2020		44	$	13.86	to	$	13.99	$	612		2.22  %		0.49  %	to	0.69  %		9.29  %	to	9.54  %
2019		44	$	12.68	to	$	12.77	$	563		1.85  %		0.49  %	to	0.69  %		17.24  %	to	17.47  %
2018		46	$	10.81	to	$	10.87	$	498		2.12  %		0.49  %	to	0.69  %		(7.35) %	to	(7.17) %
2017		147	$	11.67	to	$	11.71	$	1,716		0.27  %		0.49  %	to	0.69  %		12.92  %	to	13.15  %
SCHWAB VIT GROWTH PORTFOLIO
(Effective date 04/29/2016)
2020		3	$	14.87	to	$	14.87	$	42		2.23  %		0.49  %	to	0.49  %		10.79  %	to	10.79  %
2019		16	$	13.32	to	$	13.42	$	208		1.70  %		0.49  %	to	0.69  %		20.01  %	to	20.25  %
2018		18	$	11.10	to	$	11.16	$	203		1.34  %		0.49  %	to	0.69  %		(8.99) %	to	(8.80) %
TEMPLETON FOREIGN VIP FUND
2020		15	$	12.60	to	$	9.20	$	159		3.64  %		0.49  %	to	0.85  %		(2.01) %	to	(1.68) %
2019		18	$	12.86	to	$	9.36	$	195		1.62  %		0.49  %	to	0.85  %		11.58  %	to	11.98  %
2018		34	$	11.52	to	$	8.36	$	338		2.75  %		0.49  %	to	0.85  %		(16.16) %	to	(15.86) %
2017		58	$	13.75	to	$	9.93	$	714		2.77  %		0.49  %	to	0.85  %		15.71  %	to	16.13  %
2016		72	$	11.88	to	$	8.55	$	771		1.91  %		0.49  %	to	0.85  %		6.27  %	to	6.66  %
TEMPLETON GLOBAL BOND VIP FUND
2020		34	$	9.42	to	$	9.48	$	317		9.05  %		0.49  %	to	0.85  %		(6.03) %	to	(5.71) %
2019		27	$	10.03	to	$	10.05	$	276		9.18  %		0.49  %	to	0.85  %		1.15  %	to	1.51  %
2018		80	$	9.92	to	$	9.90	$	791		0.00  %		0.49  %	to	0.85  %		1.07  %	to	1.43  %
2017		73	$	9.82	to	$	9.76	$	718		0.00  %		0.49  %	to	0.85  %		1.07  %	to	1.43  %
2016		32	$	9.71	to	$	9.63	$	309		0.00  %		0.49  %	to	0.85  %		2.06  %	to	2.44  %
THIRD AVENUE VALUE PORTFOLIO VARIABLE SERIES
2020		3	$	10.28	to	$	11.16	$	35		2.87  %		0.65  %	to	0.85  %		(3.25) %	to	(3.08) %
2019		4	$	10.63	to	$	11.51	$	43		0.27  %		0.65  %	to	0.85  %		11.52  %	to	11.73  %
2018		4	$	9.53	to	$	10.30	$	40		1.72  %		0.65  %	to	0.85  %		(21.02) %	to	(20.86) %
2017		5	$	12.07	to	$	13.02	$	65		0.84  %		0.65  %	to	0.85  %		12.62  %	to	12.86  %
2016		5	$	10.72	to	$	11.53	$	59		0.91  %		0.65  %	to	0.85  %		11.28  %	to	11.50  %
TOUCHSTONE VST BOND FUND
2020		72	$	15.00	to	$	11.82	$	1,010		1.71  %		0.49  %	to	0.85  %		8.75  %	to	9.16  %
2019		80	$	13.79	to	$	10.83	$	1,040		1.34  %		0.49  %	to	0.85  %		9.53  %	to	9.92  %
2018		79	$	12.58	to	$	9.85	$	931		2.41  %		0.49  %	to	0.85  %		(2.71) %	to	(2.36) %
2017		82	$	12.94	to	$	10.09	$	985		0.00  %		0.49  %	to	0.85  %		2.80  %	to	3.17  %
2016		70	$	12.59	to	$	9.78	$	810		1.78  %		0.49  %	to	0.85  %		(0.04) %	to	0.32  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
TOUCHSTONE VST COMMON STOCK FUND
2020		8	$	45.03	to	$	20.59	$	313		0.82  %		0.49  %	to	0.85  %		22.64  %	to	23.06  %
2019		9	$	36.72	to	$	16.73	$	294		0.53  %		0.49  %	to	0.85  %		27.49  %	to	27.96  %
2018		11	$	28.80	to	$	13.07	$	285		1.24  %		0.49  %	to	0.85  %		(8.83) %	to	(8.50) %
2017		11	$	31.59	to	$	14.29	$	305		0.01  %		0.49  %	to	0.85  %		20.48  %	to	20.91  %
2016		6	$	26.22	to	$	26.63	$	155		1.77  %		0.65  %	to	0.85  %		10.32  %	to	10.54  %
TOUCHSTONE VST COMMON STOCK FUND CLASS SC
2020		7	$	44.70	to	$	20.08	$	318		0.48  %		0.49  %	to	0.85  %		22.44  %	to	22.89  %
2019		17	$	36.51	to	$	16.34	$	415		1.24  %		0.49  %	to	0.85  %		26.22  %	to	26.67  %
2018		17	$	28.93	to	$	12.90	$	330		0.47  %		0.49  %	to	0.85  %		(8.76) %	to	(8.42) %
2017		7	$	31.70	to	$	32.26	$	232		0.57  %		0.65  %	to	0.85  %		12.68  %	to	12.91  %
2016		7	$	28.13	to	$	28.57	$	196		0.00  %		0.65  %	to	0.85  %		12.16  %	to	12.38  %
TOUCHSTONE VST SMALL COMPANY FUND
2020		4	$	43.95	to	$	19.20	$	161		0.15  %		0.49  %	to	0.85  %		17.71  %	to	18.15  %
2019		5	$	37.34	to	$	16.25	$	176		0.02  %		0.49  %	to	0.85  %		20.37  %	to	20.80  %
2018		6	$	31.02	to	$	13.45	$	160		0.00  %		0.49  %	to	0.85  %		(8.76) %	to	(8.43) %
2017		5	$	34.00	to	$	14.69	$	153		0.06  %		0.49  %	to	0.85  %		18.12  %	to	18.54  %
2016		2	$	28.79	to	$	12.40	$	65		0.09  %		0.49  %	to	0.85  %		19.21  %	to	19.63  %
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO
2020		12	$	25.57	to	$	25.92	$	318		0.00  %		0.49  %	to	0.69  %		28.71  %	to	29.00  %
2019		6	$	19.87	to	$	20.09	$	120		0.00  %		0.49  %	to	0.69  %		28.06  %	to	28.32  %
2018		2	$	15.66	to	$	15.66	$	30		0.00  %		0.49  %	to	0.49  %		0.62  %	to	0.62  %
2017		2	$	15.56	to	$	15.56	$	27		0.00  %		0.49  %	to	0.49  %		26.97  %	to	26.97  %
2016		3	$	12.26	to	$	12.26	$	40		0.00  %		0.49  %	to	0.49  %		(10.92) %	to	(10.92) %
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II
2020		12	$	25.22	to	$	25.22	$	294		0.00  %		0.65  %	to	0.65  %		28.46  %	to	28.46  %
2019		8	$	19.63	to	$	19.63	$	153		0.00  %		0.65  %	to	0.65  %		27.80  %	to	27.80  %
2018		1	$	15.22	to	$	15.36	$	15		0.00  %		0.65  %	to	0.85  %		(0.01) %	to	0.20  %
2017		1	$	15.22	to	$	15.33	$	15		0.00  %		0.65  %	to	0.85  %		26.23  %	to	26.48  %
2016		6	$	12.46	to	$	12.12	$	75		0.00  %		0.65  %	to	0.85  %		(11.47) %	to	(11.29) %
VANGUARD VIF CAPITAL GROWTH PORTFOLIO
2020		29	$	22.71	to	$	23.02	$	678		1.52  %		0.49  %	to	0.69  %		16.66  %	to	16.89  %
2019		9	$	19.47	to	$	19.69	$	177		1.10  %		0.49  %	to	0.69  %		25.63  %	to	25.88  %
2018		9	$	15.50	to	$	15.64	$	137		0.82  %		0.49  %	to	0.69  %		(1.86) %	to	(1.67) %
2017		13	$	15.79	to	$	15.91	$	209		0.47  %		0.49  %	to	0.69  %		27.95  %	to	28.20  %
2016		4	$	12.34	to	$	12.41	$	48		1.26  %		0.49  %	to	0.69  %		10.08  %	to	10.30  %
VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO
2020		15	$	15.82	to	$	16.03	$	237		2.54  %		0.49  %	to	0.69  %		11.01  %	to	11.22  %
2019		9	$	14.41	to	$	14.41	$	132		3.21  %		0.49  %	to	0.49  %		25.08  %	to	25.08  %
2018		5	$	11.52	to	$	11.52	$	62		2.26  %		0.49  %	to	0.49  %		(9.56) %	to	(9.56) %
2017		12	$	12.65	to	$	12.74	$	154		0.00  %		0.49  %	to	0.69  %		12.39  %	to	12.61  %
VANGUARD VIF MID-CAP INDEX PORTFOLIO
2020		27	$	18.95	to	$	19.20	$	515		1.58  %		0.49  %	to	0.69  %		17.27  %	to	17.52  %
2019		33	$	16.16	to	$	16.34	$	542		1.50  %		0.49  %	to	0.69  %		29.97  %	to	30.23  %
2018		15	$	12.43	to	$	12.55	$	189		1.04  %		0.49  %	to	0.69  %		(9.96) %	to	(9.77) %
2017		13	$	13.81	to	$	13.91	$	181		0.67  %		0.49  %	to	0.69  %		18.27  %	to	18.50  %
2016		5	$	11.68	to	$	11.74	$	57		1.35  %		0.49  %	to	0.69  %		10.35  %	to	10.58  %

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio		Expense Ratio (lowest to highest)				Total Return
VANGUARD VIF REAL ESTATE INDEX PORTFOLIO
2020		16	$	14.47	to	$	14.66	$	238		2.92  %		0.49  %	to	0.69  %		(5.51) %	to	(5.31) %
2019		19	$	15.31	to	$	15.48	$	289		2.96  %		0.49  %	to	0.69  %		27.92  %	to	28.18  %
2018		11	$	11.97	to	$	12.08	$	127		2.34  %		0.49  %	to	0.69  %		(6.00) %	to	(5.82) %
2017		8	$	12.73	to	$	12.82	$	96		1.86  %		0.49  %	to	0.69  %		4.05  %	to	4.26  %
2016		4	$	12.24	to	$	12.30	$	52		2.45  %		0.49  %	to	0.69  %		7.62  %	to	7.83  %
VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO
2020		19	$	20.94	to	$	21.22	$	396		0.72  %		0.49  %	to	0.69  %		22.37  %	to	22.56  %
2019		16	$	17.11	to	$	17.31	$	274		0.49  %		0.49  %	to	0.69  %		27.23  %	to	27.48  %
2018		15	$	13.45	to	$	13.58	$	209		0.34  %		0.49  %	to	0.69  %		(7.91) %	to	(7.72) %
2017		11	$	14.61	to	$	14.71	$	159		0.39  %		0.49  %	to	0.69  %		22.62  %	to	22.86  %
2016		7	$	11.91	to	$	11.97	$	89		0.32  %		0.49  %	to	0.69  %		14.15  %	to	14.38  %
VAN ECK VIP GLOBAL HARD ASSETS FUND
2020		10	$	10.70	to	$	10.95	$	110		0.82  %		0.65  %	to	0.85  %		17.82  %	to	18.00  %
2019		11	$	9.08	to	$	9.28	$	104		0.00  %		0.65  %	to	0.85  %		10.60  %	to	10.82  %
2018		7	$	4.85	to	$	8.37	$	56		0.00  %		0.65  %	to	0.85  %		(29.03) %	to	(28.89) %
2017		20	$	11.57	to	$	6.92	$	214		0.00  %		0.49  %	to	0.85  %		(2.80) %	to	(2.44) %
2016		44	$	11.90	to	$	7.10	$	447		0.36  %		0.49  %	to	0.85  %		42.20  %	to	42.70  %
VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND
2020		11	$	13.34	to	$	13.65	$	338		6.33  %		0.65  %	to	0.85  %		7.99  %	to	8.25  %
2019		18	$	12.35	to	$	12.61	$	223		0.33  %		0.65  %	to	0.85  %		11.67  %	to	11.89  %
2018		19	$	11.06	to	$	11.27	$	205		8.23  %		0.65  %	to	0.85  %		(6.94) %	to	(6.75) %
2017		22	$	11.88	to	$	9.56	$	260		2.37  %		0.49  %	to	0.85  %		11.30  %	to	11.70  %
2016		29	$	10.68	to	$	8.56	$	301		0.00  %		0.49  %	to	0.85  %		5.52  %	to	5.90  %
WELLS FARGO VT DISCOVERY FUND
2020		7	$	50.81	to	$	29.77	$	263		0.00  %		0.49  %	to	0.85  %		61.26  %	to	61.86  %
2019		3	$	31.51	to	$	32.25	$	96		0.00  %		0.65  %	to	0.85  %		37.84  %	to	38.12  %
2018		1	$	22.86	to	$	23.35	$	31		0.00  %		0.65  %	to	0.85  %		(7.85) %	to	(7.67) %
2017		1	$	14.19	to	$	25.29	$	35		0.00  %		0.65  %	to	0.85  %		28.04  %	to	28.30  %
2016		1	$	19.37	to	$	19.71	$	26		0.00  %		0.65  %	to	0.85  %		6.74  %	to	6.95  %
WELLS FARGO VT OMEGA GROWTH FUND
2020		5	$	27.75	to	$	27.16	$	138		0.00  %		0.65  %	to	0.85  %		42.00  %	to	42.28  %
2019		5	$	19.54	to	$	19.09	$	100		0.00  %		0.65  %	to	0.85  %		35.89  %	to	36.16  %
2018		6	$	14.38	to	$	14.02	$	87		0.00  %		0.65  %	to	0.85  %		(0.59) %	to	(0.38) %
2017		6	$	14.47	to	$	14.08	$	93		0.01  %		0.65  %	to	0.85  %		33.46  %	to	33.73  %
2016		3	$	10.84	to	$	10.84	$	29		0.00  %		0.85  %	to	0.85  %		(0.33) %	to	(0.33) %
WELLS FARGO VT OPPORTUNITY FUND
2020		6	$	32.90	to	$	30.73	$	181		0.47  %		0.65  %	to	0.85  %		19.97  %	to	20.24  %
2019		6	$	27.42	to	$	25.56	$	162		0.27  %		0.65  %	to	0.85  %		30.36  %	to	30.60  %
2018		6	$	21.03	to	$	19.57	$	130		0.19  %		0.65  %	to	0.85  %		(7.94) %	to	(7.75) %
2017		7	$	22.85	to	$	21.22	$	180		0.78  %		0.65  %	to	0.85  %		19.42  %	to	19.66  %
2016		4	$	19.13	to	$	17.73	$	98		2.11  %		0.65  %	to	0.85  %		11.28  %	to	11.51  %

* The Investment Division has units that round to less than 1,000 units.

(Concluded)

PART C
OTHER INFORMATION

Item 24. Financial Statements and Exhibits 

(a)	Financial Statements
	The balance sheets of Great-West Life & Annuity Insurance Company of New York (“GWL&A NY” or the “Depositor”) and subsidiaries as of December 31, 2020 and 2019, and the related statements of income, stockholder's equity and cash flows for each of the three years in the period ended December 31, 2020, and the statements of assets and liabilities of each of the investment divisions which comprise Variable Annuity-1 Series Account of GWL&A NY (the “Series Account”) as of December 31, 2020, and the related statements of operations, and changes in net assets and the financial highlights for each of the periods presented are filed herewith.
(b)	Exhibits
	(1)	Certified copy of resolution of Board of Directors of Depositor authorizing the establishment of Registrant is incorporated by reference to the initial Registration Statement on Form N-4 filed on February 22, 1996 (File No. 333-01153).
	(2)	Not applicable.
	(3)	(a)	Underwriting agreement between Depositor and GWFS Equities, Inc. (formerly, BenefitsCorp Equities, Inc.), dated May 1, 2003, is incorporated by reference to Post Effective Amendment No. 8 to Registration Statement on Form N-4, filed on April 21, 2003, (File No. 333-52956).
		(b)	Selling Agreement between Depositor and GWFS Equities, Inc. and Charles Schwab & Company, Inc., dated June 11, 2014, is incorporated by reference to Post-Effective Amendment No. 3 to the Registration Statement on Form N-4 filed on April 20, 2015 (File No. 333-194043).
		(c)	Distribution Agreement between Depositor and Investment Distributors, Inc. (“IDI”) dated October 5, 2020 is filed herewith.
		(d)	Assignment Agreement between Depositor, Great-West Life & Annuity Insurance Company, GWFS Equities, Inc., Investment Distributors, Inc. and Charles Schwab & Co., Inc. is filed herewith.
	(4)	(a)	Form of Variable Annuity Contract is incorporated by reference to Registrant’s initial Registration Statement on Form N-4, filed on February 20, 2014 (File No. 333-194044).
		(b)	Form of Contract Amendment SCH-AMDNY is incorporated by reference to Registrant's Post- Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 13, 2015 (File No. 333-194044).
		(c)	Form of Variable Annuity Contract is incorporated by reference to Registrant’s Post-Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
		(d)	Form of Guaranteed Lifetime Withdrawal Benefit Rider is incorporated by reference to Registrant’s initial Registration Statement on Form N-4, filed on February 20, 2014 (File No. 333-194044).
		(e)	Form of Guaranteed Lifetime Withdrawal Benefit Rider V2 is incorporated by reference to Registrant’s Post- Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on February 10, 2017 (File No. 333-194044).
		(f)	Form of Guaranteed Lifetime Withdrawal Benefit Rider amendment is incorporated by reference to Registrant’s Post-Effective Amendment No. 8 filed on February 11, 2019 (File No. 333-194044).
		(g)	Form of Guaranteed Lifetime Withdrawal Benefit Rider is incorporated by reference to Registrant’s Post-Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
		(h)	Form of Individual Retirement Annuity Endorsement is incorporated by reference to Registrant’s initial Registration Statement on Form N-4, filed on February 20, 2014 (File No. 333-194044).

C-1

	(i)	Form of Individual Retirement Annuity Endorsement is incorporated by reference to Registrant’s Post- Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(j)	Form of Roth Individual Retirement Annuity Endorsement is incorporated by reference to Registrant’s initial Registration Statement on Form N-4, filed on February 20, 2014 (File No. 333-194044).
	(k)	Form of Roth Individual Retirement Annuity Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(l)	Form of Non-Qualified Stretch Annuity Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 8, filed on February 11, 2019 (File No. 333-194044).
	(m)	Form of Restricted Beneficiary Payout Options Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 8, filed on February 11, 2019 (File No. 333-194044).
	(n)	Form of Restricted Beneficiary Payout Options Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(o)	Form of Non-Grantor Trust Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 8 filed on February 11, 2019 (File No. 333-194044).
	(p)	Form of Non-Grantor Trust Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 9 filed on April 12, 2019 (File No. 333-194044).
	(q)	Form of SECURE Act Endorsement is incorporated by reference to Registrant’s Post-Effective Amendment No. 11 filed on April 17, 2020 (File No. 333-194044).
(5)	(a)	Form of application is incorporated by reference to Registrant's initial Registration Statement on Form N-4, filed February 20, 2014 (File No. 333-194044).
	(b)	Form of application is incorporated by reference to Registrant’s Post-Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
(6)	(a)	The Charter of Depositor is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 20, 2015 (File No. 333-194044).
	(b)	The By-Laws of Depositor is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 20, 2015 (File No. 333-194044).
(7)	Not applicable.
(8)	(a)	Participation Agreement with AIM Variable Insurance Fund (formerly INVESCO Variable Investment Funds, Inc.) is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289);
	(b)	Amendment to Participation Agreement with AIM Variable Insurance Fund dated April 30, 2004, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
	(c)	Participation Agreement with Alger American Fund dated July 8, 1997 is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
	(d)	Amendments to Participation Agreement with Alger American Fund dated February 9, 1999 and March 25, 1999, is incorporated by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 filed on April 15, 2002 (File No. 333-25289).
	(e)	Amendment to Participation Agreement with Alger American Fund dated November 8, 2011, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
	(f)	Participation Agreement with AllianceBernstein Variable Products Series Fund, Inc. dated June 2, 2003, is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289).

C-2

(g)	Amendment to Participation Agreement with AllianceBernstein Variable Products Series Fund, Inc. dated April 2005, is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289).
(h)	Amendment to Participation Agreement with AllianceBernstein Variable Products Series Fund, Inc. dated December 31, 2007, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(i)	Participation Agreement with ALPS Variable Investment Trust dated December 17, 2014 and Amendment to Participation Agreement with ALPS Variable Investment Trust dated March 8, 2016, are incorporated by reference to Registrant’s Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on February 10, 2017 (File No. 333-194044).
(j)	Participation Agreement with American Century Variable Portfolios (formerly, TCI Portfolios, Inc.) dated July 8, 1997, is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
(k)	Amendment to Participation Agreement with American Century Variable Portfolios dated February 9, 1999, is incorporated by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 filed on April 15, 2002 (File No. 333-25289).
(l)	Amendment to Participation Agreement with American Century Variable Portfolios dated February 27, 2008, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(m)	Amendment to Participation Agreement with American Century Variable Portfolios dated April 30, 2009, is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333-147743).
(n)	Participation Agreement with American Funds Insurance Series dated January 28, 2008, is incorporated by reference to Pre-Effective Amendment No. 1 to N-4 Registration Statement filed on June 24, 2015 (File No. 333-203262).
(o)	Amendment to Fund Participation Agreement with American Funds Insurance Series dated September 30, 2011, is incorporated by reference to Pre-Effective Amendment No. 1 to N-4 Registration Statement filed on June 24, 2015 (File No. 333-203262).
(p)	Amendment to Fund Participation Agreement with American Funds Insurance Series dated August 28, 2013, is incorporated by reference to Pre-Effective Amendment No. 1 to N-4 Registration Statement filed on June 24, 2015 (File No. 333-203262).
(q)	Amendment to Fund Participation Agreement with American Funds Insurance Series dated April 3, 2014, is incorporated by reference to Pre-Effective Amendment No. 1 to N-4 Registration Statement filed on June 24, 2015 (File No. 333-203262).
(r)	Participation Agreement with Blackrock Variable Series Funds, Inc. dated April 1, 2014, is incorporated by reference to Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 13, 2015 (File No. 333-194044).
(s)	Participation Agreement with BNY Mellon Investment Fund (formerly Dreyfus Investment Fund) dated May 1, 1999, is incorporated by reference to Post- Effective Amendment No. 9 to the Registration Statement on Form N-4 filed on April 25, 2003 (File No. 333-25289).
(t)	Amendment to Participation Agreement with BNY Mellon Investment Fund (formerly Dreyfus Investment Fund) dated January 21, 2008, is incorporated by reference to Pre-Effective Amendment to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333- 147743).

C-3

(u)	Amendment to Participation Agreement with BNY Mellon Investment Fund (formerly Dreyfus Investment Fund) dated June 1, 2009, is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333- 147743).
(v)	Participation Agreement with Columbia Funds Variable Insurance Trust dated April 30, 2009, is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement on Form N-4 on April 16, 2010 (File No. 811-07549).
(w)	Participation Agreement with Columbia Funds Variable Insurance Trust I dated April 30, 2009, is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed on Form N-4 on April 16, 2010 (File No. 811-07549).
(x)	Participation Agreement with Delaware VIP Trust dated June 2, 2003, is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289).
(y)	Amendment to Participation Agreement with Delaware VIP Trust dated April 2005, is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289).
(z)	Amendment to Participation Agreement with Delaware VIP Trust dated January 11, 2008, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(aa)	Amendment to Participation Agreement with Delaware VIP Trust dated November 14, 2011, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
(bb)	Participation Agreement with DWS Variable Series II (formerly, Scudder Variable Life Investment Fund) dated May 1, 1999, is incorporated by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form N-4 filed on April 25, 2003 (File No. 333-25289).
(cc)	Amendment to Participation Agreement with DWS Variable Series II dated April 8, 2005, is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289).
(dd)	Amendment to Participation Agreement with DWS Variable Series II dated December 1, 2007, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(ee)	Participation Agreement with Federated Insurance Series dated July 8, 1997, is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
(ff)	Participation Agreement with Franklin Templeton Insurance Products Trust dated May 1, 2000, is incorporated by reference to Pre-Effective Amendment No. 1 amended Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333- 147743).
(gg)	Amendment to Participation Agreement with Franklin Templeton Insurance Products Trust dated May 1, 2006, is incorporated by reference to amended Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(hh)	Amendment to Participation Agreement with Franklin Templeton Insurance Products Trust dated May 1, 2008, is incorporated by reference to amended Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(ii)	Participation Agreement with Great-West Funds, Inc. dated December 15, 2011, is incorporated by reference to Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 13, 2015 (File No. 333-194044).

C-4

(jj)	Participation Agreement with Janus Aspen Series (Institutional Class Shares) dated July 7, 1997, is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
(kk)	Amendment to Participation Agreement with Janus Aspen Series dated December 31, 2007, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(ll)	Amendment to Participation Agreement with Janus Aspen Series dated July 25, 2008, is incorporated by reference to Post-Effective Amendment No. 1 on Form N-4 filed on April 21, 2009 (File No. 333- 147743).
(mm)	Amendment to Participation Agreement with Janus Aspen Series dated November 8, 2011, is incorporated by reference Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
(nn)	Participation Agreement with JPMorgan Insurance Trust dated April 24, 2009, is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed on Form N-4 on April 16, 2010 (File No. 811-07549).
(oo)	Participation Agreement with Lazard Retirement Series dated May 1, 2009, is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed on Form N-4 on April 16, 2010 (File No. 811-07549).
(pp)	Amendment to Participation Agreement with Lazard Retirement Series dated October 3, 2011, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, filed December 19, 2011 (File No. 333-176926).
(qq)	Participation Agreement with Legg Mason Partners Variable Equity Trust, Legg Mason Partners Variable Income Trust, Legg Mason Partners Fund Advisor, LLC and Legg Mason Investor Services, LLC dated May 20, 2014, is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 20, 2015 (File No. 333-194044).
(rr)	Participation Agreement with Baron Capital Fund Trust (now known as Lincoln Variable Insurance Products Trust) (with respect to Capital Asset Fund) dated April 1, 1999, is incorporated by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form N-4 filed on April 25, 2003 (File No. 333-25289).
(ss)	Participation Agreement with Lincoln Variable Insurance Products Trust is incorporated by reference to Post-Effective Amendment No. 1 on Form N-4 filed on April 21, 2009 (File No. 333-147743).
(tt)	Participation Agreement with Lord Abbett Series Fund, Inc. dated September 8, 2011, is incorporated by reference to Post- Effective Amendment No. 36 on Form N-6 filed on April 22, 2019 (File No. 333- 70963).
(uu)	Amendment to Participation Agreement with Lord Abbett Series Fund, Inc. dated August 21, 2013, is incorporated by reference to Post- Effective Amendment No. 36 on Form N-6 filed on April 22, 2019 (File No. 333-70963).
(vv)	Amendment to Participation Agreement with Lord Abbett Series Fund, Inc. dated April 1, 2014, is incorporated by reference to Post- Effective Amendment No. 36 on Form N-6 filed on April 22, 2019 (File No. 333-70963).
(ww)	Amendment to Participation Agreement with Lord Abbett Series Fund, Inc. dated April 17, 2015, is incorporated by reference to Post- Effective Amendment No. 36 on Form N-6 filed on April 22, 2019 (File No. 333-70963).
(xx)	Participation Agreement with MFS Variable Insurance Trust dated May 1, 2008, is incorporated by reference to Post-Effective Amendment No. 39 to the Registration Statement on Form N-4 on May 27, 2008 (File No. 811-03972).

C-5

(yy)	Amended and Restated Participation Agreement with MFS Variable Insurance Trust and MFS Variable Insurance Trust II dated May 1, 2009, is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed on Form N-4 on April 16, 2010 (File No. 811- 07549).
(zz)	Amendment to Participation Agreement with MFS Variable Insurance Trust and MFS Variable Insurance Trust II dated April 1, 2017, is incorporated by reference to Registrant’s Post- Effective Amendment No. 5 to the Registration Statement on Form N-4 filed April 13, 2017 (File No. 333-194044).
(aaa)	Participation Agreement with Nationwide Variable Insurance Trust (formerly Gartmore Variable Insurance Trust) dated June 2, 2003, is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333- 25289).
(bbb)	Amendment to Participation Agreement with Nationwide Variable Insurance Trust dated February 25, 2008, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(ccc)	Participation Agreement with Neuberger Berman Advisers Management Trust dated March 1, 2005, is incorporated by reference to Post-Effective Amendment No. 1 to the Registration Statement on N-4 filed on April 27, 2006 (File No. 333-130820).
(ddd)	Amendment to Participation Agreement with Neuberger Berman Adviser Management Trust dated December 1, 2007, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(eee)	Participation Agreement with Oppenheimer Variable Account Funds dated June 2, 2003, is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289).
(fff)	Amendment to Participation Agreement with Oppenheimer Variable Account Funds dated April 1, 2005, is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289).
(ggg)	Participation Agreement with PIMCO Variable Insurance Trust dated June 2, 2003, is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289).
(hhh)	Amendment to Participation Agreement with PIMCO Variable Insurance Trust dated April 1, 2005, is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289).
(iii)	Amendment to Participation Agreement with PIMCO Variable Insurance Trust dated December 1, 2007, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(jjj)	Amendment to Participation Agreement with PIMCO Variable Insurance Trust dated October 31, 2011, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
(kkk)	Participation Agreement with Pioneer Variable Contracts Trust (formerly, SAFECO Resource Trust) dated July 8, 1997, is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
(lll)	Amendment to Participation Agreement with Pioneer Variable Contracts Trust dated March 28, 2008, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).

C-6

	(mmm)	Participation Agreement with Putnam Variable Trust dated March 31, 2010, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, filed December 30, 2011 (File No. 333-176926).
	(nnn)	Participation Agreement with Schwab Annuity Portfolios dated July 8, 1997, is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
	(ooo)	Amendment to Participation Agreement with Schwab Annuity Portfolios dated May 1, 1998, is incorporated by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 filed on April 15, 2002 (File No. 333-25289).
	(ppp)	Amendment to Participation Agreement with Schwab Annuity Portfolios dated February 11, 2008, is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
	(qqq)	Amendment to Participation Agreement with Schwab Annuity Portfolios dated April 29, 2016, is incorporated by reference to Registrant’s Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on February 10, 2017 (File No. 333-194044).
	(rrr)	Participation Agreement with T. Rowe Price Equity Series, Inc., T. Rowe Price Fixed Income Series, Inc., T. Rowe Price International Series, Inc., T. Rowe Price Investment Services, Inc. dated February 1, 2002, is incorporated by reference to Post-Effective Amendment No. 2 to Registration Statement on Form N-4 filed on May 1, 2012 (File No. 333-177070).
	(sss)	Amendment to Participation Agreement with T. Rowe Price Equity Series, Inc., T. Rowe Price Fixed Income Series, Inc., T. Rowe Price International Series, Inc., T. Rowe Price Investment Services, Inc. dated November 10, 2008, is incorporated by reference to Post-Effective Amendment No. 2 to Registration Statement on Form N-4 filed on May 1, 2012 (File No. 333-177070).
	(ttt)	Amendment to Participation Agreement with T. Rowe Price Equity Series, Inc., T. Rowe Price Fixed Income Series, Inc., T. Rowe Price International Series, Inc., T. Rowe Price Investment Services, Inc. dated November 30, 2011, is incorporated by reference to Post-Effective Amendment No. 2 to Registration Statement on Form N-4 filed on May 1, 2012 (File No. 333-177070).
	(uuu)	Participation Agreement with Touchstone Variable Series Trust dated May 1, 2009, is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed on Form N-4 on April 16, 2010 (File No. 811-07549).
	(vvv)	Amendment to Participation Agreement with Touchstone Variable Series Trust dated October 16, 2017, is incorporated by reference to Registrant’s Post-Effective Amendment No. 6 to the Registration Statement on Form N-4 filed October 26, 2017 (File No. 333-194044).
	(www)	Participation Agreement with Van Eck Worldwide Insurance Trust dated July 8, 1997, is incorporated by reference to Post- Effective Amendment No. 1 on Form N-4 filed on April 21, 2009 (File No. 333- 147743).
	(xxx)	Amendment to Participation Agreement with Van Eck Worldwide Insurance Trust dated April 23, 2009, is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333-147743).
	(yyy)	Participation Agreement with Wells Fargo Variable Trust dated October 1, 2005, is incorporated by reference to initial Registration Statement on Form N-4 filed on November 30, 2007 (File No. 333- 147743).
	(zzz)	Form of SEC Rule 22c-2 Shareholder Information Amendment is incorporated by reference to initial Registration Statement on Form N-4 filed on November 30, 2007 (File No. 333-147743).
(9)	Opinion of counsel and consent dated April 15, 2014, is incorporated by reference to Registrant's Pre- Effective Amendment No. 1 to the Registration Statement, filed on May 22, 2014 (File No. 333-194044).
(10)	(a)	Written Consent of Carlton Fields, P.A. is filed herewith.

C-7

	(b)	Written Consents of Deloitte & Touche LLP are filed herewith.
(11)	Not Applicable.
(12)	Not Applicable.
(13)	Powers of Attorney for Directors Alazraki, Bernbach, A. Desmarais, P. Desmarais, Jr., Katz, Orr, Ryan, Jr., Selitto and Walsh are filed herewith.

Item 25. Directors and Officers of the Depositor 

Name	Principal Business Address	Positions and Offices with Depositor
R.J. Orr	(3)	Chairman of the Board
M.D. Alazraki	Manatt, Phelps & Phillips, LLP 7 Times Square, 23rd Floor New York, NY 10036	Director
J.L. Bernbach	32 East 57th Street, 10th Floor New York, New York 10022	Director
A.R. Desmarais	(3)	Director
P.G. Desmarais, Jr.	(3)	Director
S.Z. Katz	Fried Frank Harris Shriver & Jacobson 400 E. 57th Street, 19-E New York, NY 10022	Director
T.T. Ryan, Jr.	JP Morgan Chase 270 Park Avenue, Floor 47 New York, NY 10017	Director
J.J. Selitto	437 West Chestnut Hill Avenue Philadelphia, PA 19118	Director
B.E. Walsh	Saguenay Capital, LLC The Centre at Purchase Two Manhattanville Road, Suite 403 Purchase, NY 10577	Director
A.S. Bolotin	(1)	President and Chief Executive Officer
E.F. Murphy, III		President, Empower Retirement
J.F. Bevacqua	(1)	Chief Risk Officer
K.I. Schindler	(2)	Chief Compliance Officer
R.G. Schultz	(2)	General Counsel, Chief Legal Officer, and Secretary
J.E. Brown	(1)	Senior Vice President and Chief Investment Officer
J.D. Kreider	(1)	Senior Vice President and Head of Great- West Investments
W.J. McDermott	(1)	Senior Vice President, Empower Large/Mega/Not-for-Profit
D.A. Morrison	(1)	Senior Vice President, Government Markets
J.M. Smolen	(1)	Senior Vice President, Empower Core Market
C.E. Waddell	(1)	Senior Vice President, Retirement Solutions
T. Wilson		Senior Vice President and Chief Product Development Officer
M.B. Harger	(1)	Vice President, Client Services
T.G. Homenuik	(1)	Vice President and Corporate Actuary
K.S. Roe	(1)	Treasurer and Principal Accounting Officer
R.L. Logsdon	(2)	Secretary, Audit Committee
D.C. Larsen	(2)	Senior Counsel and Assistant Secretary

(1)  8515 East Orchard Road, Greenwood Village, Colorado 80111.

(2) 8525 East Orchard Road, Greenwood Village, Colorado 80111.

C-8

(3) Power Financial Corporation, 751 Victoria Square, Montreal, Quebec, Canada H2Y 2J3.

Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant as of December 31, 2020

The Registrant is a separate account of Great-West Life & Annuity Insurance Company of New York, a stock life insurance company incorporated under the laws of the State of New York (“Depositor”). The Depositor is an indirect subsidiary of Power Corporation of Canada. An organizational chart for Power Corporation of Canada is set forth below.

C-9

Organizational Chart – December 31, 2020

I.

OWNERSHIP OF POWER CORPORATION OF CANADA

The following sets out the ownership, based on votes attached to the outstanding voting shares, of Power Corporation of Canada: 

The Desmarais Family Residuary Trust
	99.999% - Pansolo Holding Inc.
		50.84% - Power Corporation of Canada
			The total voting rights of Power Corporation of Canada (PCC) controlled directly and indirectly by the Desmarais Family Residuary Trust are as follows. There are issued and outstanding as of December 31, 2020 622,388,232 Subordinate Voting Shares (SVS) of PCC carrying one vote per share and 54,860,866 Participating Preferred Shares (PPS) carrying 10 votes per share; hence the total voting rights are 1,70,996,892.
			Pansolo Holding Inc. owns directly and indirectly 48,363,392 SVS and 54,697,962 PPS, entitling Pansolo Holding Inc. to an aggregate percentage of voting rights of 595,343,012 or 50.88% of the total voting rights attached to the shares of PCC.

II.

OWNERSHIP BY POWER CORPORATION OF CANADA

Power Corporation of Canada has a voting interest in the following entities:

A.

Great-West Life & Annuity Insurance Company Group of Companies (U.S. insurance) 

Power Corporation of Canada
	100.0% - Power Financial Corporation
		66.848% - Great-West Lifeco Inc.
			100.0% - Great-West Financial (Nova Scotia) Co.

C-10

	100.0% - Great-West Lifeco U.S. LLC
		100.0% - Great-West Services Singapore I Private Limited
			100.0% - Great-West Services Singapore II Private Limited
				99.0% - Great-West Global Business Services India Private Limited (1% owned by Great-West Services Singapore I Private Limited)
		1% - Great-West Global Business Services India Private Limited (99% owned by Great-West Services Singapore II Private Limited)
100.0% - GWL & A Financial Inc.
		100.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co.
		100.0% - Great-West Life & Annuity Insurance Company (Fed ID # 84-0467907 - NAIC # 68322, CO)
				100.0% - Great-West Life & Annuity Insurance Company of New York (Fed ID # 13-2690792 - NAIC # 79359, NY)
				100.0% - Advised Assets Group, LLC
				100.0% - GWFS Equities, Inc.
				100.0% - Great-West Life & Annuity Insurance Company of South Carolina
				100.0% - Empower Retirement, LLC
					100.0% - Empower Retirement Plan Co., LLC
				100.0% - Great-West Capital Management, LLC
				100.0% - Great-West Trust Company, LLC
				100.0% - Lottery Receivable Company One LLC
				100.0% - LR Company II, L.L.C.
				100.00% - Great-West Financial Retirement Plan Services, LLC
				100.0% - Empower Insurance Agency, LLC
				100.0% - Empower Holdings, LLC
					100.0% - Personal Capital Corporation
						100.0% - Personal Capital Advisors Corporation
						100.0% - Personal Capital Services Corporation
						100.0% - Personal Capital Technology Corporation

B.

Putnam Investments Group of Companies (Mutual Funds) 

Power Corporation of Canada
	100.0% - Power Financial Corporation
		66.848% - Great-West Lifeco Inc.
			100.0% - Great-West Financial (Nova Scotia) Co.
				100.0% - Great-West Lifeco U.S. LLC.
					99.0% - Great-West Lifeco U.S. Holdings, L.P. (1% owned by Great-West Lifeco U.S. Holdings, LLC)
					100.0% - Great-West Lifeco U.S. Holdings, LLC
						1% - Great-West Lifeco U.S. Holdings, L.P. (99% owned by Great-West Lifeco U.S. LLC)
					100.0% - Putnam Investments, LLC
						100.0% - Putnam Acquisition Financing, Inc.
							100.0% - Putnam Acquisition Financing LLC

C-11

100.0% - Putnam U.S. Holdings I, LLC
		20.0% - PanAgora Asset Management, Inc. (80% owned by PanAgora Holdings, Inc.)
	100.0% - Putnam Investment Management, LLC
	100.0% - Putnam Fiduciary Trust Company, LLC
	100.0% - Putnam Investor Services, Inc.
	100.0% - Putnam Retail Management GP, Inc.
				1.0% - Putnam Retail Management Limited Partnership (99% owned by Putnam U.S. Holdings I, LLC)
	99.0% - Putnam Retail Management Limited Partnership (1% owned by Putnam Retail Management GP, Inc.)
	100.0% - PanAgora Holdings, Inc.
			80.00% - PanAgora Asset Management, Inc. (20.0% owned by Putnam U.S. Holdings I, LLC)
	100.0% - Putnam Investment Holdings, L.L.C.
				100.0% - Savings Investments, LLC
				100.0% - Putnam Capital, LLC
				100.0% - 37 Capital General Partner, LLC
	100.0% - Putnam Advisory Holdings II, LLC
			100.0% - Putnam Investments (Ireland) Limited
			100.0% - Putnam Investments Australia Pty Limited
			100.0% - Putnam Investments Securities Co., Ltd.
			100.0% - Putnam International Distributors, Ltd.

C-12

		100.0% - Putnam Investments Argentina S.A.
	100.0% - Putnam Investments Limited
	100.0% - The Putnam Advisory Company, LLC
100.0% - Putnam Advisory Holdings, LLC
	100.0% - Putnam Investments Canada ULC

C.

The Great-West Life Assurance Company Group of Companies (Canadian insurance) 

Power Corporation of Canada
	100.0% - Power Financial Corporation
		66.848% - Great West Lifeco Inc.
			100.0% - Great-West Lifeco Inc.
						100.0% Great-West Lifeco Finance 2019, LLC
							99.0% - Great-West Lifeco Finance 2018, LP (1.0% owned by Great-West Lifeco U.S. LLC)
								100.0% - Great- West Lifeco Finance 2018, LLC
								100.0% - Great- West Lifeco Finance 2018 II, LLC
						100.0% - Great-West Lifeco US Finance 2019, LP
							100.0% - Great-West Lifeco US Finance 2019, LLC
						100.0% - Great-West Lifeco US Finance 2019 I, LLC
						100.0% - Great-West Lifeco US Finance 2019 II, LLC
						1.0% - Great-West Lifeco Finance 2018, LP (99.0% owned by Great-West Lifeco Finance 2019, LLC)
				100.0% - GW Lifeco Finance 2020, LLC
					1.0% - Great-West Lifeco US Finance 2020, LP
			99.0% - Great-West Lifeco US Finance 2020, LP
				100.0% - GW Lifeco Finance 2020 5 Year, LLC
				100.0% - Empower Finance 2020, LLC
				100.0% - Empower Finance 2020 Holdco, LLC
				100.0% - Empower Finance 2020 A, LLC
				100.0% - Empower Finance 2020 B, LLC
				100.0% - Empower Finance 2020 C, LLC
			100.0% - Empower Finance 2020, LP
				18.5% - Portag3 Ventures LP
				29.3% - Springboard II LP
				33.3% - Portag3 Ventures II Affiliates LP
						33.3% - Portag3 Ventures II LP
						33.3% - Portag3 Ventures II International Investments Inc. 100.0% -2142540 Ontario Inc.

C-13

100.0% - 2023308 Ontario Inc.
		1.0% - Great-West Life & Annuity Insurance Capital, LP (99.0% owned by Great-West Lifeco Inc.)
40.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co.
99.0% - Great-West Lifeco Finance (Delaware) LP (1.0% owned by 2142540 Ontario Inc.)
		100.0% Great-West Lifeco Finance 2017, LLC
100.0% - 2171866 Ontario Inc
100.0% - 2619747 Ontario Inc.
100.0% - 2142540 Ontario Inc.
		1.0% - Great-West Lifeco Finance (Delaware) LP (99% owned by Great-West Lifeco Inc.)
			40.0% - Great-West Lifeco Finance (Delaware) LLC (60.0% owned by The Great-West Life Assurance Company)
		1.0% - Great-West Lifeco Finance 2018, LP (99.0% owned by Great-West Lifeco Inc.)
			100.0% - Great-West Lifeco Finance 2018, LLC
			100.0% - Great-West Lifeco Finance 2018 II, LLC
99.0% - Great-West Lifeco Finance 2018, LP (1.0% owned by 2619747 Ontario Inc.)
100.0% - 6109756 Canada Inc.
100.0% - 6922023 Canada Inc.
100.0% - 8563993 Canada Inc.
100.0% - 9855297 Canada Inc.
20.0% - 11249185 Canada Inc.
20.0% - Armstrong LP (1.0% owned by 11249185 Canada Inc.)
100% - Northleaf Capital Group Ltd
100% - Northleaf Capital Partners Ltd.
100% - Northleaf PPP GP Ltd.
100% - Northleaf Secondary Partners III GP Ltd.
100% - Northleaf Mid-Market Infrastructure Partners GP Ltd.
	100% - Northleaf SH288 GP Ltd.
100% - Northleaf Geothermal Holdings (Canada) GP Ltd.
100% - NSPC-L Holdings II GP Ltd.
100% - Northleaf Small Cell GP Ltd.
100% - NCP Terminals GP Ltd.
100% - NCP NWP US GP Ltd.
40% - Northleaf NICP III GP Ltd.
100% - NCP US Terminals GP LLC
100% - NCP Canadian Breaks GP LLC
100% - Northleaf Vault Holdings GP Ltd.
100% - NSPC-L GPC Ltd.
100% - NCP CSV Holdings GP Ltd.
100% - Northleaf Capital Advisors Ltd.
100% - Northleaf/PRD Holdco GP Ltd.
	100% - Northleaf/PRD GP Ltd.
100% - Northleaf Trustees Limited
100% - Northleaf NVCF Holdings Ltd.
100% - Northleaf PE GP Ltd.
100% - Northleaf 2013-2014 Holdings Ltd.
100% - Northleaf PE GP Ltd.
100% - NCP 2015 Canadian Holdings Ltd.
100% - Northleaf Capital Partners (Canada) Ltd.

C-14

		100% - Northleaf Capital Partners (Australia) Pty Ltd.
		100% - Northleaf Capital Partners (UK) Limited
		49% - Northleaf NICP GP Ltd.
		49% - Northleaf NICP II GP Ltd
		100% - Northleaf Class C Holdings GP Ltd.
		100% - Northleaf Capital Partners (USA) Inc.
	100% - Annex Fund GP Ltd.
	100% - Northleaf Capital Partners GP Ltd.
		49% - Northleaf NICP Holdings GP Ltd.
		100% - SW Holdings GP Ltd.
		100% - Northleaf South Dundas GP Ltd.
	100% - Northleaf NICP III Canadian Class C Holdings Ltd.
	100% - Northleaf Millenium Holdings (US) GP Ltd.
100% - Northleaf Millennium Holdings (Canada) GP Ltd
100% - Northleaf 1608 II Holdings Ltd.
100% - Northleaf NVCF II Holdings Ltd.
100% - Northleaf 2017-2018 PE Holdings Ltd.
	100% - Northleaf 1855 Holdings Ltd.
	49% - Northleaf Star Holdings GP Ltd.
	100% - Northleaf Star GPC Ltd.
	49% - Northleaf Private Credit GP Ltd.
	100% - NPC GPC Ltd.
	100% - Northleaf NPC I Holdings Ltd.
	100% - Northleaf Lal Lal Holdings GP Ltd.
100% - Northleaf Lal Lal Holdings (Australia) Pty Ltd.
	100% - NPC II GPC Ltd.
	100% - NSPC GPC Ltd.
		49% - NSPC GP Ltd.
		49% - NSPC-L GP Ltd.
		49% - NSPC-L Holdings GP Ltd.
		49% - NPC I Holdings GP Ltd.
		49% - Northleaf Private Credit II GP Ltd.
		49% - Northleaf NCO GP Ltd.
	100% - Northleaf NICP III Holdings Ltd.
	100% - Northleaf CFOF Class C 2019 Ltd.
	100% - Northleaf 010 II Holdings Ltd.
	100% - NSPC International GP Ltd.
			100% - NSPC-L International GP Ltd.
	100% - Northleaf NCO Holdings Ltd.
	100% - Northleaf NCO Holdings Ltd.
	100% - Northleaf NPE VIII Holdings Ltd.
	100% - Northleaf NSP III Holdings Ltd.
	63.17% - Northleaf Capital Holdings Ltd.
	100% - Northleaf PE Holdings GP Ltd.
	100% - Northleaf Capital Partners GP II Ltd.
49% - Northleaf NICP II Holdings GP Ltd.
	100.0% - The Great-West Life Assurance Company (NAIC #80705, MI)

C-15

		41.2% - GWL THL Private Equity I Inc. (58.8% owned by The Canada Life Insurance Company of Canada)
				100.0% - GWL THL Private Equity II Inc.
				23.0% - Great-West Investors Holdco Inc. (77% owned by The Canada Life Assurance Company)
				100.0% - Great-West Investors LLC
					100.0% - Great-West Investors LP Inc.
							99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
								100.0% - T.H. Lee Interests
							100.0% - Great-West Investors GP Inc.
								1.0% - Great-West Investors LP (99.0% owned by Great-West Investors LP Inc.)
									100.0% - T.H. Lee Interests
		77.0% - CDN US Direct RE Holdings Ltd. (23% The Canada Life Insurance Company of Canada)
				100.0% - Great-West US Direct RE Holdings Inc.
					100.0% - GWL Direct 650 Almanor LLC
					100.0% - GWL Direct 345 Cessna LLC
					100.0% - CL GFP LLC
					100.0% - GWL Direct 1 Bulfinch Place LLC
					100.0% - Great-West US Direct RE Acquisition LLC
					100.0% - GWL Direct 851 SW 34th LLC
					100.0% - GWL Direct 12100 Rivera LLC
	100.0% - GWL Realty Advisors Inc.
				100.0% - GWL Realty Advisors U.S., Inc.
					100.0% - EverWest Property Management, LLC
							100.0% - EverWest Property Services of Arizona, LLC
					100.0% - EverWest Real Estate Investors, LLC
					100.0% - EverWest Advisors, LLC
							100.0% - EverWest Advisors AZ, LLC
							100.0% - EW Manager LLC
				100.0% - EverWest Funds Advisors LLC
					100.0% - GWL U.S. Property Fund GP LLC
					100.0% - GWL Plus GP LLC
					100.0% - GWL Plus II GP LLC
					100.0% - GWL GP LLC
						100.0% - GWL RES GP LLC
			100.0% - GWLRA US Trust Company, LLC
				100.0% - RA Real Estate Inc.
					0.1% - RMA Real Estate LP (99.9% owned by The Canada Life Assurance Company
							100% - RMA Properties Ltd.
							100% - RMA Properties (Riverside) Ltd.
	100.0% - GWL Realty Advisors Residential Inc.
	100.0% - 2278372 Ontario Inc.
87.5% - 555 Robson Holding Ltd. (12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - GLC Asset Management Group Ltd.
100.0% - 200 Graham Ltd.
100.0% - 801611 Ontario Limited
100.0% - 1213763 Ontario Inc.
	99.99% - Riverside II Limited Partnership (0.01% owned by 2024071 Ontario Limited)
100.0% - Kings Cross Shopping Centre Ltd.

C-16

100.0% - 681348 Alberta Ltd.
50.0% - 3352200 Canada Inc.
100.0% - 1420731 Ontario Limited
60.0% - Great-West Lifeco Finance (Delaware) LLC (40.0% owned by Great-West Lifeco Finance (Delaware) LP)
100.0% - 1455250 Ontario Limited
100.0% - CGWLL Inc.
100.0% - 2020917 Alberta Ltd.
77.0% - Great-West Investor Holdco Inc. (23% owned by GWL THL Private Equity I Inc.)
84.0% - 2148902 Alberta Ltd. (16% owned by The Canada Life Insurance Company of Canada)
70.0% - 2157113 Alberta Ltd. (30% owned by The Canada Life Insurance Company of Canada)
100.0% - The Walmer Road Limited Partnership (35.0% owned by London Life Insurance Company)
100.0% - Laurier House Apartments Limited (50.0% owned by London Life Insurance Company)
100.0% - Marine Promenade Properties Inc. (50.0% owned by London Life Insurance Company)
100.0% - 2024071 Ontario Limited
	100.0% - 431687 Ontario Limited
		0.01% - Riverside II Limited Partnership (99.99% owned by 1213763 Ontario Inc.)
100.0% - High Park Bayview Inc.
	0.001% - High Park Bayview Limited Partnership
100.0% - High Park Bayview Limited Partnership
5.6% - MAM Holdings Inc. (94.4% owned by The Canada Life Insurance Company of Canada)
	100% - Mountain Asset Management LLC
100.0% - TGS North American Real Estate Investment Trust
	100.0% - TGS Trust
100.0% - RMA Realty Holdings Corporation Ltd.
	100.0% 1995709 Alberta Ltd.
	100.0% - RMA (U.S.) Realty LLC (Delaware)
		100.0% - RMA American Realty Corp.
			1% - RMA American Realty Limited Partnership (99% owned by RMA (U.S.) Realty LLC (Delaware))
		99.0% - RMA American Realty Limited Partnership (1% owned by RMA American Realty Corp.)
	99.9% - RMA Real Estate LP (0.1% owned by RA Real Estate Inc.)
		100.0% - RMA Properties Ltd.
		100.0% - S-8025 Holdings Ltd.
		100.0% - RMA Properties (Riverside) Ltd.
100.0% - KS Village (Millstream) Inc.
100.0% - Trop Beau Developments Limited
100.0% - Kelowna Central Park Properties Ltd.
100.0% - Kelowna Central Park Phase II Properties Ltd.
87.5% - Vaudreuil Shopping Centres Limited (12.5% owned by The Canada Life Insurance Company of Canada)
62.0% - 1296 Station Street Properties Ltd. (380% owned by The Canada Life Insurance Company of Canada)
100.0% - Saskatoon West Shopping Centres Limited
87.5% - 2331777 Ontario Ltd. (12.5% owned by The Canada Life Insurance Company of Canada)
87.5% - 2344701 Ontario Ltd. (12.5% owned by The Canada Life Insurance Company of Canada)
87.5% - 2356720 Ontario Ltd. (12.5% owned by The Canada Life Insurance Company of Canada)
87.5% - 0977221 B.C. Ltd. (12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - 7419521 Manitoba Ltd.
	0.09% - 7420928 Manitoba Limited Partnership (88.15% owned The Canada Life Assurance Company and11.74% owned by The Canada Life Insurance Company of Canada)

C-17

			100.0% - 7419539 Manitoba Ltd.
100.0% - 1542775 Alberta Ltd.
100.0% - 0813212 B.C. Ltd.
			100.0% - 1319399 Ontario Inc.
100.0% - 4298098 Canada Inc.
100.0% - GWLC Holdings Inc.
100% - GLC Reinsurance Corporation
100.0% - 389288 B.C. Ltd.
100.0% - Quadrus Investment Services Ltd.
88.0% - Neighborhood Dental Services Ltd.
100.0% - Quadrus Distribution Services Ltd.
100.0% - Toronto College Park Ltd.
100.0% - 185 Enfield GP Inc.
			0.01% - 185 Enfield LP (99.99% owned by The Canada Life Assurance Company)
99.99% - 185 Enfield LP (0.001% owned by 185 Enfield GP Inc.)
100.0% - 320 Mc Rae GP Inc.
			0.001% - 320 McRae LP (99.99% owned by The Canada Life Assurance Company)
			99.99% - 320 McRae LP (0.001% owned by 320 McRae GP Inc.)
	100.0% - London Life Financial Corporation
		100.0% - 11658735 Canada Inc.
		100.0% - London Reinsurance Group, Inc.
				100.0% - London Life and Cascualty Reinsurance Corporation
							100.0% - Trabaja Reinsurance Company Ltd.
							100.0% - London Life and Casualty (Barbados) Corporation
					100.0% - LRG (US), Inc.
							100.0% - London Life International Reinsurance Corporation
							100.0% - London Life Reinsurance Company (Fed ID # 23-2044256 – NAIC # 76694, PA)
			100.0% - Financial Horizons Group Inc.
				100.0% - Financial Horizons Incorporated
					100.0% - 9099-1696 Quebec Inc.
					100.0% - Continuum Financial Centres Inc.
					100.0% - Excel Private Wealth Inc.
					100.0% - Odyssey Financial Group Inc./Groupe Odyssee Inc.
					100.0% - TORCE Financial Group Inc.
					100.0% - TORCE Investment Management Inc.
					100.0% - VANCE Financial Group Inc.
					100.0% - Henderson GP ULC
							0.01% - Henderson Structured Settlements LP (99.9% held by Financial Horizons Incorporated)
					99.9% - Henderson Structures Settlements LP (0.01% held by Henderson GP ULC)
			100.0% - Canada Life Capital Corporation, Inc.
				100.0% - Canada Life International Holdings Limited
					100.0% - Canada Life Annuity Reinsurance (Barbados) Corporation
					100.0% - Canada Life International Services Limited
					100.0% - Canada Life International Limited
						100.0% - CLI Institutional Limited
					100.0% - Canada Life Reinsurance International Ltd.
					100.0% - The Canada Life Group (U.K.) Limited

C-18

80.0% - Canada Life International Assurance (Ireland) Designated Activity Company (20.0% owned by CL Abbey Limited)
100.0% - Canada Life Irish Holding Company Limited
	28% - JDC Group AG
		100.0% - Jung, DMS & Cie.AG
			100.0% - Jung, DMS & Cie.Pro GmbH
			100.0% - Jung, DMS & Cie.Pool GmbH
				100.0% - JDC Geld,de GmbH
				100.0% - JDC plus GmbH
		100.0% - JDC B-LAB GmbH
		100.0% - FINUM.PRIVATE Finance Holding GmbH (Germany)
			100.0% - FINUM.Finanzhause AG
			100.0% - FINUM.Pension Consulting GmbH
			100.0% - FINUM.Private Finance AG
				100.0% - FVV – GmbH
		100.0% - FINUM.PRIVATE Finance Holding GmbH (Austria)
			100.0% - FINUM.Private Finance AG
				100.0% - Jung, DMS & Cie. GmbH
				51.0% - Jupoo finance GmbH
100.0% - CL Abbey Limited
	20.0% - Canada Life International Assurance (Ireland) Designated Activity Company (80.0% owned by The Canada Life Group (U.K.) Limited)
100.0% - Canada Life Re Ireland dac
	100.0% - Canada Life Dublin dac
100.0% - Canada Life Group Services Limited
	100.0% - Canada Life Europe Investment Limited
		100.0% - Canada Life Europe Management Services Limited
				21.33% - Canada Life Assurance Europe Limited (78.67% owned by Canada Life Europe Investment Limited)
		78.67% - Canada Life Assurance Europe Limited (21.33% owned by Canada Life Europe Management Services Limited)
100.0% - Irish Life Investment Managers Limited
	100.0% - Summit Asset Managers Limited
100.0% - Setanta Asset Management Limited
100.0% - Canada Life Pension Managers & Trustees Limited
100.0% - Canada Life Asset Management Limited
100.0% - Canada Life European Real Estate Limited
	100.0% - Hotel Operations (Walsall) Limited
	100.0% - Hotel Operations (Cardiff) Limited
100.0% - Canada Life Trustee Services (U.K.) Limited

C-19

100.0% - CLFIS (U.K.) Limited
	100.0% - Canada Life UK Staff Pension Trustee Limited
100.0% - MGM Advantage Holdings Limited
	100.0% - Stonehaven UK Limited
	100.0% - MGM Advantage Services Limited
100.0% - Canada Life Platform Limited
	100.0% - Canada Life SIPP Trustee Limited
	100.0% - Canada Life Platform Nominee Limited
100.0% - Canada Life Limited
	26.0% - ETC Hobley Drive Management Company Limited
	100.0% - Synergy Sunrise (Wellington Row) Limited
	76.0% - Radial Park Management Limited
	100.0% - Canada Life (U.K.) Limited
		100.0% - Albany Life Assurance Company Limited
		100.0% - Canada Life Management (U.K.) Limited
		100.0% - Canada Life Services (U.K.) Limited
		100.0% - Canada Life Fund Managers (U.K.) Limited
		100.0% - Canada Life Group Services (U.K.) Limited
		100.0% - Canada Life Holdings (U.K.) Limited
		100.0% - MGM Advantage Life Trustee Limited
	100.0% - Canada Life Irish Operations Limited
		100.0% - Canada Life Ireland Holdings Limited.
	100.0% - Irish Life Group Limited
		100.0% - ILGAPT Limited
			90.0% APT Workplace Pension Ltd.
			100.0% APT Wealth Management Ltd.
				100.0% APTFS Nominees Ltd.
		100.0% - ILGWM Limited
			100.0% - Clearview Investments & Pensions Limited
		100.0% - Irish Life Health dac
		100.0% - Irish Life Group Services Limited
		100.0% - Irish Life Financial Services Ltd.
		100.0% - Glohealth Financial Services Limited
		49.0% - Affinity First Limited (51.0% interest unknown)
		100.0% - Vestone Ltd.
					100.0% - Cornmarket Group Financial Services Limited
					100.0% - Cornmarket Insurance Services Limited
						100.0% EIS Financial Services Limited
					100.0% - Cornmarket Retail Trading Ltd.
		100.0% - Irish Life Associate Holdings Unlimited Company

C-20

						100.0% - Irish Life Irish Holdings Unlimited Company
					75.0% - 1939 ILIV Consulting Limited
						100.0% - Invesco Limited
							100.0% - Invesco Trustee DAC
									100.0% - City Life Limited
							100.0% - ILP Pension Trustees DAC
							100.0% - BCRM Financial Holdings (Ireland) dac
								100.0% - Acumen & Trust dac
								100.0% - Acumen & Trust Pension Trustees dac
					100.0% - Irish Life Assurance plc.
						100.0% - Ilona Financial Group, Inc.
						100.0% - Irish Life Trustee Services Limited
						100.0% - Stephen Court Limited
						100.0% - (2,3&4) Basement Company Limited
						66.66% - City Gate Park Administration Limited
						51.0% - SJRQ Riverside IV Management Company Ltd.
						50.0% - Hollins Clough Management Company Ltd.
						50.0% - Dakline Company Ltd.
						20.0% - Choralli Limited
						18.2143% - Tour Esplanade (Paris) LP
					52.8% - Platform Capital Holdings Limited
						100.0% - Conexim Advisors Limited
	100.0% - 4073649 Canada, Inc.
		100.0% - CL Luxembourg Capital Management S.á.r.l.
			45.0% - Wealthsimple Europe S.á.r.l.
				100.0% - Wealthsimple UK Ltd.
				100.0% - Wealthsimple Germany GmbH
				100.0% - Wealthsimple Technologies Europe
		100.0% - Canada Life Finance (U.K.) Limited
	100.0% - 8478163 Canada Limited
		100.0% - Canada Life Capital Bermuda Limited
	100.0% - 9983813 Canada Inc.
		100.0% - Canada Life Capital Bermuda III Limited
	100.0% - Canada Life Capital Bermuda II Limited
77.0% - Great-West Investors Holdco Inc. (23% owned by GWL THL I Private Equity I Inc.)
	100.0% - CL 22 Chapel GP Inc.
		0.001% - CL 22 Chapel LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL 22 Chapel GP (0.001%owned by CL 22 Chapel GP Inc.)
	100.0% - CL Eastlake GP Inc.

C-21

		0.001% - CL Eastlake LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL Eastlake LP (0.001% owned by CL Eastlake GP Inc.)
	100.0% - CL Lago GP Inc.
		0.001% - CL Lago LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL Lago LP (0.001% owned by CL 22 Chapel GP Inc.)
	100.0% - CL 2505 Bruckner GP Inc.
		0.001% - CL 2505 Bruckner LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL 2505 Bruckner LP (0.001% owned by CL 2505 Bruckner Inc.)
100.0% - The Canada Life Insurance Company of Canada
	11.74%- 7420928 Manitoba Limited Partnership (88.15% limited partner interest held by The Canada Life Assurance Company; 7419521 Manitoba Ltd. holds 0.12% interest)
	100.0% - 6855572 Manitoba Ltd.
	94.4% - MAM Holdings Inc. (5.6% owned by The Canada Life Assurance Company)
		100.0% - Mountain Asset Management LLC
	12.5% - 2331777 Ontario Ltd. (87.5% owned by The Canada Life Assurance Company)
	12.5% - 2344701 Ontario Ltd. (87.5% owned by The Canada Life Assurance Company)
	12.5% - Vaudreuil Shopping Centres Limited (87.5% owned by The Canada Life Assurance Company)
	38.0% - 1296 Station Street Properties Ltd. (62.0% owned by The Canada Life Assurance Company
	12.5% - 2356720 Ontario Ltd. (87.5% owned by The Canada Life Assurance Company)
	12.5% - 0977221 B.C. Ltd. (87.5% owned by The Canada Life Assurance Company)
	12.5% - 555 Robson Holding Ltd. (87.5% owned by The Canada Life Assurance Company)
	58.8% - GWL THL Private Equity I Inc. (41.2% The Canada Life Assurance Company)
		100.0% - GWL THL Private Equity II Inc.
	16.0% - 2148902 Alberta Ltd. (85% by The Canada Life Assurance Company)
	30.0% - 2157113 Alberta Ltd (70% by The Canada Life Assurance Company)
		100.0% - Great-West Investors Holdco Inc.
			100.0% - Great-West Investors LLC
				100.0% - Great-West Investors LP Inc.
					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100.0% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% Great-West Investors LP Inc.)
								100.0% - T.H. Lee Interests
100.0% - CL Capital Management (Canada), Inc.
100.0% - Canada Life Mortgage Services Ltd.
11.8% - GWL THL Private Equity I Inc. (29.4% owned by The Canada Life Assurance Company, 58.8% owned by The Canada Life Insurance Company of Canada)
	100.0% - GWL THL Private Equity II Inc.
	100.0% - Great-West Investors Holdco Inc.
			100.0% - Great-West Investors LLC
				100.0% - Great-West Investors LP Inc.
					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% Great-West Investors LP Inc.)
							100.0% - T.H. Lee Interests

C-22

100.0% - Canada Life Capital Trust
100.0% - Canada Life Investment Management Ltd.
100.0% - Great-West US RE Holdings, Inc.
	100.0% - CL Burlingame, LLC
		10.0% - PGEW Burlingame, LLC
			100.0% - EW PG – Airport Owner, LLC
	100.0% - CL 25 North LLC

D.

IGM Financial Inc. Group of Companies (Canadian mutual funds) 

Power Corporation of Canada
	100.0% - Power Financial Corporation
		62.076% - IGM Financial Inc. (direct and indirect 65.936%)
			100.0% - Investors Group Inc.
					100.0% - Investors Group Financial Services Inc.
							100.0% - 11249142 Canada Inc.
					100.0% - Investors Group Trust Co. Ltd.
					100.0% - I.G. Insurance Services Inc.
					100.0% - Investors Syndicate Limited
					100.0% - Investors Group Securities Inc.
					100.0% - 6460675 Manitoba Ltd.
					100.0% - I.G. Investment Management, Ltd.
						100.0% - Investors Group Corporate Class Inc.
						100.0% - Investors Syndicate Property Corp.
						100.0% - 0992480 B.C. Ltd.
						100.0% - 1081605 B.C. Ltd.
						100.0% - 11263552 Canada Inc.
			100.0% - Mackenzie Inc.
				100.0% - Mackenzie Financial Corporation
					100.0% - Mackenzie Investments Europe Limited
								100.0% - Mackenzie Investments Asia Limited
					100.0% - Mackenzie Investments Charitable Foundation
					14.28% - Strategic Charitable Giving Foundation
					100.0% - Mackenzie Financial Capital Corporation
					100.0% - Multi-Class Investment Corp.
					100.0% - MMLP GP Inc.
					100.0% - Mackenzie Investments Corporation
					100.0% - Mackenzie U.S. Fund Management Inc.
					13.9% - China Asset Management Co., Ltd.
					80.0% - 11249185 Canda Inc.
							100.0% - Armstrong LP
									49.9% - Northleaf Capital Group Ltd.
										100% - Northleaf Capital Partners Ltd.
										100% - Northleaf PPP GP Ltd.

C-23

100% - Northleaf Secondary Partners III GP Ltd.
100% - Northleaf Mid- Market Infrastructure Partners GP Ltd.
	100% - Northleaf SH288 GP Ltd.
100% - Northleaf Geothermal Holdings (Canada) GP Ltd.
100% - NSPC-L Holdings II GP Ltd.
100% - Northleaf Small Cell GP Ltd.
100% - NCP Terminals GP Ltd.
100% - NCP NWP US GP Ltd.
49% - Northleaf NICP III GP Ltd.
100% - NCP US Terminals GP LLC
100% - NCP Canadian Breaks GP LLC
100% - Northleaf Vault Holdings GP Ltd.
100% - NSPC-L GPC Ltd.
100% - NCP CSV Holdings GP Ltd.
100% - Northleaf Capital Advisors Ltd.
100% - Northleaf/PRD Holdco GP Ltd.
	100% - Northleaf/PRD GP Ltd.
100% - Northleaf Trustees Limited
100% - Northleaf NVCF Holdings Ltd.
100% - Northleaf PE GP Ltd.
100% - Northleaf 2013- 2014 Holdings Ltd.

C-24

100% - Northleaf PE GP Ltd.
100% - NCP 2015 Canadian Holdings Ltd.
100% - Northleaf Capital Partners (Canada) Ltd.
	100% - Northleaf Capital Partners (Australia) Pty Ltd.
	100% - Northleaf Capital Partners (UK) Limited
	49% - Northleaf NICP GP Ltd.
	49% - Northleaf NICP II GP Ltd.
	100% -Northleaf Class C Holdings GP Ltd.
	100% - Northleaf Capital Partners (USA) Inc.
100% - Annex Fund GP Ltd
100% - Northleaf Capital Partners GP Ltd.
	49% - Northleaf NICP Holdings GP Ltd.
	100% - SW Holdings GP Ltd.
	100% - Northleaf South Dundas GP Ltd.
100% - Northleaf NICP III Canadian Class C Holdings Ltd.
100% - Northleaf Millennium Holdings (US) GP Ltd.
100% - Northleaf Millennium Holdings (Canada) GP Ltd.
100% - Northleaf 1608 II Holdings Ltd.
100% - Northleaf NVCF II Holdings Ltd.

C-25

100% - Northleaf 2017-

2018 PE Holdings Ltd.

100% - Northleaf 1855

Holdings Ltd.

49% - Northleaf Star

Holdings GP Ltd.

100% - Northleaf Star GPC

Ltd.

49% - Northleaf Private

Credit GP Ltd.

100% - NPC GPC Ltd.

100% - Northleaf NPC I

Holdings Ltd.

100% - Northleaf Lal Lal

Holdings GP Ltd.

100% - Northleaf Lal Lal

Holdings (Australia) Pty

Ltd.

100% - NPC II GPC Ltd.

100% - NSPC GPC Ltd.

49% - NSPC GP Ltd.

49% - NSPC-L GP Ltd.

49% - NSPC-L Holdings

GP Ltd.

49% - NPC I Holdings GP

Ltd.

49% - Northleaf Private

Credit II GP Ltd.

49% - Northleaf NCO GP

Ltd.

100% - Northleaf NICP III

Holdings Ltd.

100% - Northleaf CFOF

Class C 2019 Ltd.

100% - Northleaf 010 II

Holdings Ltd.

100% - NSPC International

GP Ltd.

100% - NSPC-

L International GP Ltd.

100% - Northleaf NCO

Holdings Ltd.

100% - Northleaf NPE VIII

Holdings Ltd.

C-26

				100% - Northleaf NSP III Holdings Ltd.
				63.17% - Northleaf Capital Holdings Ltd.
				100% - Northleaf PE Holdings GP Ltd.
				100% - Northleaf Capital Partners GP II Ltd.
					49% - Northleaf NICP II Holdings GP Ltd.
		100.0% - Greenchip Financial Corp.
		100.0% - GLC Asset Management Group Ltd.
		100.0% - MGELS Investments Limited
		100.0% - MEMLS Fund Management (Cayman) Ltd.
		100.0% - Mackenzie EM Funds Management (Cayman) Ltd.
100.0% - Investment Planning Counsel Inc.
		100.0% - IPC Investment Corporation
		100.0% - IPC Estate Services Inc.
		100.0% - IPC Securities Corporation
		100.0% - Counsel Portfolio Services Inc.
			100.0% - Counsel Portfolio Corporation
18.54% - Portag3 Ventures LP
	19.82% - Springboard LP
55.23% - Springboard LP
	75.95% - WealthSimple Financial Corp. (74.89% equity)
29.33% - Springboard II LP
33.3% - Portag3 Ventures II Affiliates LP
	31.97% - Portag3 ventures II LP

E.

Pargesa Holding SA Group of Companies (European investments) 

Power Corporation of Canada
	100.0% - Power Financial Corporation
		100.0% - Power Financial Europe SA
			50.0% - Parjointco SA
				100.0% - Pariontco Switzerland SA
				100.0% - Pargesa Netherlands B.V.
					43.2% (Groupe Bruxelles Lambert (28.2% in capital)
						1.3% - Groupe Bruxelles Lambert (1.6% in capital)
						0.4% - LTI One SA
						96.5% - FINPAR II SA
							0.2% - Groupe Bruxelles Lambert (0.1% in capital)
						90.2% - FINPAR III SA

C-27

		0.2% - Groupe Bruxelles Lambert (0.1% in capital)
94.4% - FINPAR IV SA
		0.1% - Groupe Bruxelles Lambert
		0.1% - Imerys
94.9% - FINPAR V SA
		0.1% - Groupe Bruxelles Lambert
		0.3% - Marnix Lux SA
95.0% - PINPAR VI SA
		0.1% - Groupe Bruxelles Lambert
		0.3% - Marnix Lux SA
1.2% - Sagerpar SA
100.0% - Belgian Securities BV
			67.6% - Imerys (53.9% in capital)
	100.0% - Brussels Securities SA
				99.6% - LTI One SA
				100.0% - LTI Two SA
						0.1% - Groupe Bruxelles Lambert
					100.0% - URDAC SA
						0.1% - Groupe Bruxelles Lambert
					100.0% - FINPAR SA
						0.1% - Groupe Bruxelles Lambert
					100.0% - FINSAR SA
					98.8% - Sagerpar SA
						3.0% - Groupe Bruxelles Lambert (3.1% in capital)
					10.0% - GBL Participations SA
					10.0% - Brussels Advisors SA
	100.0% - GBL O
	90.0% - GBL Participations SA
	90.0% - Brussels Advisors SA
	100.0% - GBL Advisors Limited
			5.4% - FINPAR III SA
	100.0% - GBL Development Limited
	100.0% - RPCE Consulting SAS
	100.0% - GBL Verwaltung SA
					100.0% - GBL Investments Limited
					100.0% - GBL R S.á.r.l
					100.0% - GBL Energy S.á.r.l
					100.0% - Serena S.á.r.l.
						100.0% - Eliott Capital S.á.r.l
						100.0% - Sienna Capital S.á.r.l
						100.0% - Sienna Capital London Ltd.
						100.0% - Sienna Capital Opportunity GP S.a.r.l
						50.0% - Avanti Acquisition GP S.a.r.l
					100.0% Sienna Capital Invest SCSp
						100.0% - Sienna Capital Opportunity Carry SCSp
						100.0% - Sienna Capital Opportunity Fund SCSp
							100.0% - SC Opportunity Master S.a.r.l

C-28

	100.0% - Sienna Capital Participations S.á.r.l
		89.9%% - Ergon Capital Partners III SA
	100.0% - Sienna Capital Co-Invest Master S.a.r.l
	50.0% - Avanti Acquisition SCSp
100.0% - GBL Finance S.á.r.l.
100.0% - Miles Capital S.á.r.l.
100.0% - Oliver Capital S.á.r.l
100.0% - Theo Capital S.á.r.l
100.0% - Owen Capital S.á.r.l
100.0% - GfG Capital S.á.r.l
	100.0% - Blitz 20-673 GmbH
3.5% - FINPAR II SA
4.4% - FINPAR III SA
5.6% - FINPAR IV SA
5.1% - FINPAR V SA
5.0% - FINPAR VI SA
100.0% - Sapiens S.á.r.l
		61.0% - Marnix Lux SA
			100.0% - Marnix French ParentCo SAS
				100.0% - Marnix French TopCo SAS
					100.0% - Marnix SAS
						100.0% - Courcelles Lux SCA
							100.0% - Wowholdco SAS
								100.0% - Wowmidco SAS
									100.0% - Wowbidco SAS
										100.0% - Webhelp SAS

F.

Power Corporation (International) Limited Group of Companies (Asian investments) 

Power Corporation of Canada
	100.0% - Power Corporation (International) Limited
		99.9% - Power Pacific Corporation Limited
			0.1% - Power Pacific Equities Limited
		99.9% - Power Pacific Equities Limited
	100.0% - Power Communications Inc.
		0.1% - Power Pacific Corporation Limited
	13.9% - China Asset Management Limited

G.

Other PCC Companies 

Power Corporation of Canada
	100.0% - 152245 Canada Inc.
	100.0% - Square Victoria Real Estate Inc./ Square Victoria Immobilier Inc.
		100.0% - SVRE Management Inc.
	100.0% - 3121011 Canada Inc.
	100.0% - 171263 Canada Inc.
	100.0% - Power Sustainable Capital Investments Inc.

C-29

100.0% - Power Sustainable Manager Inc.
		100.0% - PSEIP Carry Holding LP
		100.0% - Power Sustainable Energy Infrastructure Inc.
			100.0% - PSEIP Carry Canada Inc
			100.0% - Power Sagard (Shanghai) Investment Management Co., Ltd.
8.92% - Bellus Health Inc.
25.0% (voting) - 9314-0093 Québec Inc. (formerly Club de Hockey Les Remparts de Québec Inc.)
100.0% - Power Energy Corporation
		100.0% - Potentia Renewables Inc.
			75.0% - Paintearth Wind Project LP
			100.0% - Stirling Wind Project LP
			75.0% - Wheatland Wind Project LP
			100.0% - Emerald Solar Energy, SRL
			100.0% - Jenner Wind Limited Partnership
			100.0% - Power Renewable Energy Corporation
			100.0% - Sequoia Energy Inc.
				100.0% - Sequoia Energy US Inc.
				100.0% - Musselshell Wind Holdings, LLC
				100.0% - Musselshell Wind Project, LLC
				100.0% - Musselshell Wind Project Two, LLC
			100.0% - Potentia Solar Holdings II Limited Partnership
				100.0% Potentia Solar Holdings Limited Partnership
				100.0% - Schooltop Solar LP
				85.0% - Reliant First Nations LP
				100.0% - PSI Solar Finance 1 LP
				100.0% - MOM Solar LP
				100.0% - Potentia Solar 5 LP
				100.0% - Potentia Solar 6 LP
				100.0% - Potentia Solar 7 LP
				100.0% - Potentia Solar 9 LP
				100.0% - Potentia Solar 14 LP
		100.0% - Solarize Holdings Corp.
		100.0% - Potentia Solar Holdings Corp.
			100.0%- Banjo Solar Holdings Corp.
			64.0% - Potentia MN Solar Fund I, LLC
		100.0% - Golden South Wind LP
		100.0% - Potentia Renewables 15 LP (Affinity and RT Solar)
		100.0% - Potentia Renewables 16 LP (Solar Gardens)
		50.0% - Pokeshaw Windfarm LP
	100.0% - Power Energy Corporation US
		100.0% - Nautilus Solar Energy, LLC
			100.0% - Nautilus Helios Solar Torsk, LLC
				100.0% - Bulldog Solar One LLC
				100.0% - Burns Solar One LLC
				100.0% - MVR Solar One LLC
				100.0% - Mason Solar One,LLC
				100.0% - Pittman Solar One LLC

C-30

	100.0% - Chesapeake Energy One, LLC
100.0% - Nautilus Solar Solutions, LLC
100.0% - Nautilus Castle Solar, LLC
100.0% - NSE Sackets Solar, LLC
	100.0% - Clifton Park Solar 1, LLC
	100.0% - Clifton Park Solar 2, LLC
	100.0% - Hamlin Solar 1, LLC
100.0% - NSE Stag Industrial MA 1, LLC
100.0% - NSE Beacon Solar, LLC
	100.0% - ISM Solar Cranston
100.0% - P52ES Raphael Rd Community Solar, LLC (White Marsh)
100.0% - P52ES 1755 Henryton Road Phase I, LLC
100.0% - P52ES 1755 Henryton Road Phase 2, LLC
100.0% - P52ES 12855 Frederick Road Phase 1, LLC (Triple Creek)
100.0% - Nautilus Helios Solar Blackpoint, LLC
	100.0% - TPE King Solar Holdings1, LLC
	100.0% - TPE King Solar Holdings2, LLC
100.0% - Nautilus Solar Construction Holdco, LLC
	100.0% - TPE Hopkins Solar Holdings1, LLC
100.0% - Nautilus Slar Term Holdco, LLC
100.0% - Nautilus Solar Canada Inc.
	100.0% - 2241091 Ontario Inc. GP
100.0% - Prowind Renewable Inc
	- 100.0% - Bright Oak Solar
	100.0% - River Valley Solar LLC
	100.0% - Bright Hill Solar LLC
	100.0% - Bright Field Solar LLC
100.0% - Virgo KAM MM Holdco, LLC
	1.0% - Virgo KAM Holdco, LLC
		100.0% - Lindstrom Solar LLC
		100.0% - Winstead Solar LLC
		100.0% - Saint Cloud Solar LLC
100.0% - VH Holdco I, LLC
	1.0% – VH WB Holdco, LLC
		100.0% - VH West Brookfield LLC
	100% - VH Lordsburg Holdco, LLC
		100.0% - Nautilus Solar Lordsburg, LLC
	100.0% – VH Salem Holdco, LLC
		100.0% - NS Salem Community College, LLC
	100.0% - VH Kilroy Holdco, LLC
		100.0% - VH Kilroy Solar, LLC
	100.0% - VH BHA Holdco, LLC
		100.0% - GES Megafourteen LLC
	100.0% - Virgo Goat Island MM Holdco, LLC
		1.0% - Virgo Goat Island Holdco, LLC
		100.0% -Nautilus Goat Island Solar, LLC
	100.0% – NS Belle Mead, LLC

C-31

			60.51% - Lumenpulse Group Inc.
				100.0% - Lumenpulse Finance Corp.
				100.0% - Lumenpulse Lighting Corp.
					80.93% - Sternberg Lanterns, Inc.
				100.0% - Exenia s.r.l.
				100.0% - Lumenpulse UK Limited
					100.0% - Lumenpulse Alphaled Limited
			44.15% - The Lion Electric Company
100.0% - Power Communications Inc.
		100.0% - Brazeau River Resources Investments Inc.
100.0% - PCC Industrial (1993) Corporation
100.0% - Power Corporation International
100.0% - Sagard Holdings Participation Inc.
	100.0% - Sagard Credit Partners GP, Inc.
		100.0% - Sagard Credit Partners, LP
	100.0% - Sagard Holdings Manager GP Inc.
		100.0% - Sagard Holdings Manager LP
	100.0% - Sagard Credit Partners (Cayman) GP, Inc.
		100.0% - Sagard Credit Partners (Cayman), LP
	100.0% - Sagard Healthcare Royalty Partners GP LLC
		100.0% - Sagard Healthcare Royalty Partners, LP
	100.0% - Portag3 Ventures GP Inc.
		100.0% - Portag3 Ventures Participation ULC
		100.0% - Portag3 Ventures Participation Inc.
		100.0% - Portag3 Ventures Participation US LP
		100.0% - Portag3 Ventures II Affiliates GP Inc.
				100.0% - Portag3 Ventures II Affiliates LP
		100.0% - Portag3 Ventures LP
				100.0% - Portag3 International Investments Inc.
	100.0% - Portag3 Ventures II GP Inc.
		100.0% - Portage3 Ventures II LP
		100.0% - Portag3 Ventures II Investments LP
				100.0% - Portag3 Ventures II International Investments Inc.
		100.0% - Portag3 Ventures II International LP
		100.0% - Portag3 Ventures II International (FI) LP
		100.0% - Portag3 Ventures II Carried Interest LP
		100.0% - Portag3 Ventures II Carried Interest US LP
	100.0% - Springboard III GP Inc.
		100.0% - Springboard III LP
	100.0% - Sagard Holdings ULC
		4.0% - 1069759 B.C. Unlimited Liability Company
		100.0% - Sagard Credit Partners Carried Interest GP Inc.
			100.0% - Sagard Credit Partners Carried Interest LP
		100.0% - Sagard Capital Partners GP, Inc.
			100.0% - Sagard Capital Partners, L.P.
				21.4% - GP Strategies Corp.
				4.23% - Jaguar Health Inc.

C-32

					96.0% - 1069759 B.C. Unlimited Liability Company
						91.6 % - Integrated Fertility Holding, LLC
		50.0% - Peak Achievement Athletics Inc. (42.58% equity)
				100.0% - 10094439 Canada Inc.
				100.0% - 10094455 Canada Inc.
					100.0% - Limited Partnership Interests in Peak Management Participation LP
					100.0% - 1167410 B.C. Unlimited Liability Company
						100.0% - General Partnership Interests in Peak Management Participation LP
							100.0% - Limited Partnership Interests in Peak Holdings LP
							100.0% - 1167387 B.C. Unlimited Liability Company
							100.0% - General Partnership Interests in Peak Holdings LP
							100.0% - Bauer Hockey Ltd.
							100.0% - Bauer Innovations Canada Ltd.
							100.0% - Bauer Hockey AB
							100.0% - Bauer Hockey GmbH
							100.0% - Performance Sports Group Hong Kong Ltd.
							100.0% - Jacmal BV
							100.0% - Bauer CR spol s.r.o.
							100.0% - BCE Acquisitions US, Inc.
							100.0% - Bauer Innovations US, LLC
							100.0% - Easton Diamond Sports, LLC
							100.0% - Bauer Hockey LLC
							100.0% - Cascade Maverik Lacrosse, LLC
							100.0% - Bauer Hockey Retail, LLC
100.0% - Power Corporation of Canada Inc.
	100.0% - 4190297 Canada Inc.
	100.0% - Sagard Capital Partners Management Corp.
100.0% - Sagard S.A.S.
100.0% - Marquette Communications (1997) Corporation
100.0% - 4507037 Canada Inc.
100.0% - 4524781 Canada Inc.
100.0% - 4524799 Canada Inc.
100.0% - 4524802 Canada Inc.
100.0% - Square Victoria Communications Group Inc.
	100.0% - Gesca Ltee
			100.0% Gestion Gesca Inc.
				100.0% - 11249177 Canada Inc.
				100.0% - 10206911 Canada Inc.
				100.0% - Gesca Numerique Inc.
			100.0% - 9214470 Canada Inc.
	100.0% - Square Victoria Digital Properties Inc.
		100.0% Les Editions Plus Ltee
		50.0% - 1004096 Canada Inc. (“workopolis”)

H.

Other PFC Companies 

Power Financial Corporation

C-33

100.0% - 4400003 Canada Inc.
100.0% - 3411893 Canada Inc.
100.0% - 3439453 Canada Inc.
100.0% - PFC Ventures Inc.
	100.0% - 9194649 Canada Inc.
		100.0% - Springboard L.P.
			75.95.% - Wealthsimple Financial Corp. (74.89% equity)
				100.0% - Wealthsimple Inc.
				100.0% - Wealthsimple Advisor Services Inc.
				100.0% - Canadian ShareOwner Investments Inc.
				100.0% - CSA Computing Inc.
				100.0% - Wealthsimple US, Ltd.
				100.0% - Wealthsimple Technologies Inc.
				100.0% - Wealthsimple Investments US, Ltd.
				50.10% - Wealthsimple Europe S.a.r.l
					100.0% - Wealthsimple UK Ltd.
					100.0% - Wealthsimple Germany GmbH
					100.0% - Wealthsimple Technologies Europe Ltd
				100.0% - SimpleTax Software Inc.

C-34

	100.0% - Wealthsimple Payments Inc.
	100.0% - Wealthsimple Digital Assets. Inc.
100.0% - Springboard II LP

II.

OWNERSHIP BY POWER CORPORATION OF CANADA

Power Corporation of Canada has a voting interest in the following entities:

A.

Great-West Life & Annuity Insurance Company Group of Companies (U.S. insurance) 

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		64.057% - Power Financial Corporation
			66.889% - Great-West Lifeco Inc.
				100.0% - Great-West Financial (Nova Scotia) Co.
					100.0% - Great-West Lifeco U.S. LLC
						100.0% - Great-West Services Singapore I Private Limited
							100.0% - Great-West Services Singapore II Private Limited
								99.0% - Great West Global Business Services India Private Limited (1% owned by Great-West Services Singapore I Private Limited)
							1.0% - Great West Global Business Services India Private Limited (99% owned by Great-West Services Singapore II Private Limited)
						100.0% - GWL&A Financial Inc.
							100.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co.
							100.0% - Great-West Life & Annuity Insurance Company (Fed ID # 84-0467907 - NAIC # 68322, CO)
								100.0% - Great-West Life & Annuity Insurance Company of New York (Fed ID # 13-2690792 - NAIC # 79359, NY)
								100.0% - Advised Assets Group, LLC
								100.0% - GWFS Equities, Inc.
								100.0% - Great-West Life & Annuity Insurance Company of South Carolina
								100.0% - Empower Retirement, LLC, LLC
								100.0% - Great-West Capital Management, LLC
								100.0% - Great-West Trust Company, LLC
								100.0% - Lottery Receivable Company One LLC
								100.0% - LR Company II, L.L.C.
								100.0% - Great-West Financial Retirement Plan Services, LLC
								100.0% - Empower Insurance Agency, LLC

B.

Putnam Investments Group of Companies (Mutual Funds) 

Power Corporation of Canada

C-35

100.0% - 171263 Canada Inc.
	64.057% - Power Financial Corporation
		66.774% - Great-West Lifeco Inc.
			100.0% - Great-West Financial (Nova Scotia) Co.
				100.0% - Great-West Lifeco U.S. LLC
					99.0% - Great-West Lifeco U.S. Holdings, L.P. (1% owned by Great-West Lifeco U.S. Holdings, LLC)
					100.0% - Great-West Lifeco U.S. Holdings, LLC
						1% - Great-West Lifeco U.S. Holdings, L.P. (99% owned by Great-West Lifeco U.S. LLC)
					100.0% - Putnam Investments, LLC
						100.0% - Putnam Acquisition Financing, Inc.
							100.0% - Putnam Acquisition Financing LLC
								100.0% - Putnam U.S. Holdings I, LLC
								20.0% - PanAgora Asset Management, Inc. (80% owned by PanAgora Holdings, Inc.)
									100.0% - Putnam Investment Management, LLC
									100.0% - Putnam Fiduciary Trust Company, LLC
									100.0% - Putnam Investor Services, Inc.
									100.0% - Putnam Retail Management GP, Inc.
											1.0% - Putnam Retail Management Limited Partnership (99% owned by Putnam U.S. Holdings I, LLC)
									99.0% - Putnam Retail Management Limited Partnership (1% owned by Putnam Retail Management GP, Inc.)
									100.0% - PanAgora Holdings, Inc.
										80.00% - PanAgora Asset Management, Inc. (20.0% owned by Putnam U.S. Holdings I, LLC)
									100.0% - Putnam Investment Holdings, L.L.C.
											100.0% - Savings Investments, LLC
											100.0% - Putnam Capital, LLC
											100.0% - 37 Capital General Partner, LLC
									100.0% - Putnam Advisory Holdings II, LLC
										100.0% - Putnam Investments (Ireland) Limited
										100.0% - Putnam Investments Australia Pty Limited
										100.0% - Putnam Investments Securities Co., Ltd.
										100.0% - Putnam International Distributors, Ltd.
											100.0% - Putnam Investments Argentina S.A.
										100.0% - Putnam Investments Limited
										100.0% - The Putnam Advisory Company, LLC
									100.0% - Putnam Advisory Holdings, LLC
										100.0% - Putnam Investments Canada ULC

C.

The Great-West Life Assurance Company Group of Companies (Canadian insurance) 

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		64.057% - Power Financial Corporation
			66.774% - Great-West Lifeco Inc.
				100.0% - Great-West Lifeco U.S. LLC
					100.0% Great-West Lifeco Finance 2019, LLC
						99.0% - Great-West Lifeco Finance 2018, LP (1.0% owned by Great-West Lifeco U.S. LLC)
							100.0% - Great-West Lifeco Finance 2018, LLC
							100.0% - Great-West Lifeco Finance 2018 II, LLC

C-36

				100.0% - Great-West Lifeco US Finance 2019, LP
								100.0% - Great-West Lifeco US Finance 2019, LLC
				100.0% - Great-West Lifeco US Finance 2019 I, LLC
				100.0% - Great-West Lifeco US Finance 2019 II, LLC
				1.0% - Great-West Lifeco Finance 2018, LP (99.0% owned by Great-West Lifeco Finance 2019, LLC)
18.5% - Portag3 Ventures LP
29.3% - Springboard II LP
33.3% - Portag3 Ventures II Affiliates LP
				33.3% - Portag3 Ventures II LP
				33.3% - Portag3 Ventures II International Investments Inc. 100.0% -2142540 Ontario Inc.
100.0% - 2023308 Ontario Inc.
				1.0% - Great-West Life & Annuity Insurance Capital, LP (99.0% owned by Great-West Lifeco Inc.)
40.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co.
99.0% - Great-West Lifeco Finance (Delaware) LP (1.0% owned by 2142540 Ontario Inc.)
				100.0% Great-West Lifeco Finance 2017, LLC
100.0% - 2171866 Ontario Inc
100.0% - 2619747 Ontario Inc.
100.0% - 2142540 Ontario Inc.
				1.0% - Great-West Lifeco Finance (Delaware) LP (99% owned by Great-West Lifeco Inc.)
								40.0% - Great-West Lifeco Finance (Delaware) LLC (60.0% owned by The Great-West Life Assurance Company)
				1.0% - Great-West Lifeco Finance 2018, LP (99.0% owned by Great-West Lifeco Inc.)
								100.0% - Great-West Lifeco Finance 2018, LLC
								100.0% - Great-West Lifeco Finance 2018 II, LLC
99.0% - Great-West Lifeco Finance 2018, LP (1.0% owned by 2619747 Ontario Inc.)
100.0% - 6109756 Canada Inc.
100.0% - 6922023 Canada Inc.
100.0% - 8563993 Canada Inc.
100.0% - 9855297 Canada Inc.
100.0% - The Great-West Life Assurance Company (NAIC #80705, MI)
	29.4% - GWL THL Private Equity I Inc. (11.8% owned by The Canada Life Assurance Company, 58.8% owned by The Canada Life Insurance Company of Canada)
		100.0% - GWL THL Private Equity II Inc.
		23.0% - Great-West Investors Holdco Inc. (22% owned by The Canada Life Assurance Company, 55% owned by The Great-West Life Assurance Company)
		100.0% - Great-West Investors LLC
			100.0% - Great-West Investors LP Inc.
					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100.0% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% owned by Great-West Investors LP Inc.)
							100.0% - T.H. Lee Interests
	20.0% - CDN US Direct RE Holdings Ltd. (45% London life Insurance Company, 23% The Canada Life Insurance Company of Canada, 12% The Canada Life Assurance Company)
		100.0% - Great-West US Direct RE Holdings Inc.
			100.0% - GWL Direct 650 Almanor LLC

C-37

			100.0% - GWL Direct 345 Cessna LLC
			100.0% - CL GFP LLC
			100.0% - GWL Direct 1 Bulfinch Place LLC
	100.0% - GWL Realty Advisors Inc.
		100.0% - GWL Realty Advisors U.S., Inc.
			100.0% - EverWest Property Management, LLC
				100.0% - EverWest Property Services of Arizona, LLC
			100.0% - EverWest Real Estate Investors, LLC
			100.0% - EverWest Advisors, LLC
				100.0% - EverWest Advisors AZ, LLC
				100.0% - EW Manager LLC
		100.0% - EverWest Funds Advisors LLC
			100.0% - GWL U.S. Property Fund GP LLC
			100.0% - GWL Plus GP LLC
			100.0% - GWL Plus II GP LLC
			100.0% - GWL GP LLC
		100.0% - GWLRA US Trust Company, LLC
			100.0% - GWL RES GP LLC
		100.0% - RA Real Estate Inc.
			0.1% - RMA Real Estate LP (69.9% owned by The Great-West Life Assurance Company, 30.0% owned by London Life Insurance Company)
				100% - RMA Properties Ltd.
				100% - RMA Properties (Riverside) Ltd.
				100% - S-8025 Holdings Ltd.
	100.0% - GWL Realty Advisors Residential Inc.
	100.0% - 2278372 Ontario Inc.
12.5% - 555 Robson Holding Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - GLC Asset Management Group Ltd.
100.0% - 200 Graham Ltd.
100.0% - 801611 Ontario Limited
100.0% - 1213763 Ontario Inc.
	99.99% - Riverside II Limited Partnership (0.01% owned by 2024071 Ontario Limited)
70.0% - Kings Cross Shopping Centre Ltd. (30% owned by London Life Insurance Company)
100.0% - 681348 Alberta Ltd.
50.0% - 3352200 Canada Inc.
100.0% - 1420731 Ontario Limited
60.0% - Great-West Lifeco Finance (Delaware) LLC (40.0% owned by Great-West Lifeco Finance (Delaware) LP)
100.0% - 1455250 Ontario Limited
100.0% - CGWLL Inc.
100.0% - 2020917 Alberta Ltd.
55.0% - Great-West Investor Holdco Inc. (23% owned by GWL THL Private Equity I Inc., 22% owned by The Canada Life Assurance Company)
26.0% - 2148902 Alberta Ltd. (53% owned by London Life Insurance Company, 16% owned by The Canada Life Insurance Company of Canada and 5% owned by The Canada Life Assurance Company)
20.0% - 2157113 Alberta Ltd. (40% owned by London Life Insurance Company, 30% owned by The Canada Life Insurance Company of Canada and 10% owned by The Canada Life Assurance Company)
65.0% - The Walmer Road Limited Partnership (35.0% owned by London Life Insurance Company)
50.0% - Laurier House Apartments Limited (50.0% owned by London Life Insurance Company)

C-38

50.0% - Marine Promenade Properties Inc. (50.0% owned by London Life Insurance Company)
100.0% - 2024071 Ontario Limited
		100.0% - 431687 Ontario Limited
			0.01% - Riverside II Limited Partnership (99.99% owned by 1213763 Ontario Inc.)
100.0% - High Park Bayview Inc.
		0.001% - High Park Bayview Limited Partnership
75.0% - High Park Bayview Limited Partnership (25.0% owned by London Life Insurance Company)
5.6% - MAM Holdings Inc. (94.4% owned by The Canada Life Insurance Company of Canada)
		100% - Mountain Asset Management LLC
70.0% - TGS North American Real Estate Investment Trust (30% owned by London Life Insurance Company)
		100.0% - TGS Trust
70.0% - RMA Realty Holdings Corporation Ltd. (30.0% owned by London Life Insurance Company)
		100.0% 1995709 Alberta Ltd.
		100.0% - RMA (U.S.) Realty LLC (Delaware)
			100.0% - RMA American Realty Corp.
				1% - RMA American Realty Limited Partnership (99% owned by RMA (U.S.) Realty LLC (Delaware)
			99.0% - RMA American Realty Limited Partnership (1% owned by RMA American Realty Corp.)
		69.9% - RMA Real Estate LP (30.0% owned by London Life Insurance Company; 0.1% owned by RA Real Estate Inc.)
			100.0% - RMA Properties Ltd.
			100.0% - S-8025 Holdings Ltd.
			100.0% - RMA Properties (Riverside) Ltd.
70.0% - KS Village (Millstream) Inc. (30.0% owned by London Life Insurance Company)
70.0% - 0726861 B.C. Ltd. (30.0% owned by London Life Insurance Company)
70.0% - Trop Beau Developments Limited (30.0% owned by London Life Insurance Company)
70.0% - Kelowna Central Park Properties Ltd. (30.0% owned by London Life Insurance Company)
70.0% - Kelowna Central Park Phase II Properties Ltd. (30.0% owned by London Life Insurance Company)
12.5% - Vaudreuil Shopping Centres Limited (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
70.0% - Saskatoon West Shopping Centres Limited (30.0% owned by London Life Insurance Company)
12.5% - 2331777 Ontario Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 2344701 Ontario Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 2356720 Ontario Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 0977221 B.C. Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 555 Robson Holding Ltd. ((75% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - 7419521 Manitoba Ltd.
		0.04% - 7420928 Manitoba Limited Partnership (24.99% owned each by The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company and The Canada Life Insurance Company of Canada)
			100.0% - 7419539 Manitoba Ltd.
100.0% - London Insurance Group Inc.
	100.0% - London Life Insurance Company (Fed ID # 52-1548741 – NAIC # 83550, MI)
			100.0% - 1542775 Alberta Ltd.
			100.0% - 0813212 B.C. Ltd.
			30.0% - Kings Cross Shopping Centre Ltd. (70% owned by The Great-West Life Assurance Company)
			30.0% - 0726861 B.C. Ltd. (70% owned by The Great-West Life Assurance Company)
			30.0% - TGS North American Real Estate Investment Trust (70% owned by The Great-West Life Assurance Company)
					100.0% - TGS Trust
			30.0% - RMA Realty Holdings Corporation Ltd. (70% owned by The Great-West Life Assurance Company)
					100.0% 1995709 Alberta Ltd.

C-39

			100.0% - RMA (U.S.) Realty LLC (Delaware) (special shares held by 1995709 Alberta Ltd.)
				100.0% - RMA American Realty Corp.
					1.0% - RMA American Realty Limited Partnership (99% owned by RMA (U.S.) Realty LLC (Delaware))
				99.0% - RMA American Realty Limited Partnership (1% owned by RMA American Realty Corp.)
30.0% - RMA Real Estate LP (69.9% owned by The Great-West Life Assurance Company; 0.1% owned by RA Real Estate Inc.)
	100.0% - RMA Properties Ltd.
	100.0% - S-8025 Holdings Ltd.
	100.0% - RMA Properties (Riverside) Ltd.
100.0% - 1319399 Ontario Inc.
24.99%- 7420928 Manitoba Limited Partnership (24.99% limited partner interest each held by The Great-West Life Assurance Company, The Canada Life Assurance Company and The Canada Life Insurance Company of Canada; 7419521 Manitoba Ltd. holds 0.04% interest)
50.0% - Laurier House Apartments Limited (50.0% owned by The Great-West Life Assurance Company)
50.0% - Marine Promenade Properties Inc. (50.0% owned by The Great-West Life Assurance Company)
30.0% - Kelowna Central Park Properties Ltd. (70.0% owned by The Great-West Life Assurance Company)
30.0% - Kelowna Central Park Phase II Properties Ltd. (70.0% owned by The Great-West Life Assurance Company)
30.0% - Trop Beau Developments Limited (70.0% owned by The Great-West Life Assurance Company)
53.0% - 2148902 Alberta Ltd. (26% owned by the Great-West Life & Annuity Insurance Company, 16% owned by the Canada Life Insurance Company of Canada and 5% owned by the Canada Life Assurance Company)
40.0% - 2157113 Alberta Ltd. (20% owned by the Great-West Life & Annuity Insurance Company, 30% owned by the Canada Life Insurance Company of Canada and 10% owned by the Canada Life Assurance Company)
100.0% - 4298098 Canada Inc.
100.0% - GWLC Holdings Inc.
	100% - GLC Reinsurance Corporation
100.0% - 389288 B.C. Ltd.
100.0% - Quadrus Investment Services Ltd.
35.0% - The Walmer Road Limited Partnership (65.0% owned by The Great-West Life Assurance Company)
88.0% - Neighborhood Dental Services Ltd.
100.0% - Quadrus Distribution Services Ltd.
100.0% - Toronto College Park Ltd.
25.0% - High Park Bayview Limited Partnership (75.0% owned by The Great-West Life Assurance Company)
30.0% - KS Village (Millstream) Inc. (70.0% owned by The Great-West Life Assurance Company)
100.0% - London Life Financial Corporation
	100.0% - 11658735 Canada Inc.
	100.0%% - London Reinsurance Group, Inc.
		100.0% - London Life and Casualty Reinsurance Corporation
				100.0% - Trabaja Reinsurance Company Ltd.
				100.0% - London Life and Casualty (Barbados) Corporation
		100.0% - LRG (US), Inc.
				100.0% - London Life International Reinsurance Corporation
				100.0% - London Life Reinsurance Company (Fed ID # 23-2044256 – NAIC # 76694, PA)
75.0% - Vaudreuil Shopping Centres Limited (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
26.43% - London Reinsurance Group Inc. (73.57% owned by London Life Financial Corporation)
30.0% - Saskatoon West Shopping Centres Limited (70.0% owned by The Great-West Life Assurance Company)
75.0% - 2331777 Ontario Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
75.0% - 2344701 Ontario Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)

C-40

	75.0% - 2356720 Ontario Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
	75.0% - 0977221 B.C. Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
	100.0% - Financial Horizons Group Inc.
		100.0% - Financial Horizons Incorporated
			100.0% - 9099-1696 Quebec Inc.
			100.0% - Continuum Financial Centres Inc.
			100.0% - Excel Private Wealth Inc.
			100.0% - Odyssey Financial Group Inc./Groupe Odyssee Inc.
			100.0% - TORCE Financial Group Inc.
			100.0% - TORCE Investment Management Inc.
			100.0% - VANCE Financial Group Inc.
			100.0% - VANCE Investment Inc.
			100.0% - Henderson GP ULC
					0.01% - Henderson Structured Settlements LP (99.9% held by Financial Horizons Incorporated)
			99.9% - Henderson Structures Settlements LP (0.01% held by Henderson GP ULC)
100.0% - Canada Life Financial Corporation
		100.0% - The Canada Life Assurance Company (Fed ID # 38-0397420, NAIC # 80659, MI)
	24.99%- 7420928 Manitoba Limited Partnership (24.99% limited partner interest held by The Great-West Life Assurance Company, London Life Insurance Company and the Canada Life Insurance Company of Canada; 7419521 Manitoba Ltd. holds 0.04% interest)
	5.0% - 2148902 Alberta Ltd. (53% owned by London Life Insurance Company, 26% by The Great-West Life Assurance Company and 16% by The Canada Life Insurance Company of Canada)
	10.0% - 2157113 Alberta Ltd. (40% owned by London Life Insurance Company, 20% by The Great-West Life Assurance Company and 30% by The Canada Life Insurance Company of Canada)
	100.0% - Canada Life Capital Corporation, Inc.
		100.0% - Canada Life International Holdings Limited
			100.0% - Canada Life Annuity Reinsurance (Barbados) Corporation
			100.0% - Canada Life International Services Limited
			100.0% - Canada Life International Limited
				100.0% - CLI Institutional Limited
			100.0% - Canada Life Reinsurance International Ltd.
			100.0% - Canada Life Reinsurance Ltd.
			100.0% - The Canada Life Group (U.K.) Limited
				80.0% - Canada Life International Assurance (Ireland) Designated Activity Company (20.0% owned by CL Abbey Limited)
				100.0% - Canada Life Irish Holding Company Limited
						28% - JDC Group AG
							100.0% - Jung, DMS & Cie.AG
								100.0% - Jung, DMS & Cie. Fundmatrix AG
								100.0% - Jung, DMS & Cie.Pro GmbH
								100.0% - Jung, DMS & Cie.Pool GmbH
									100.0% - JDC Geld,de GmbH
									100.0% - JDC plus GmbH
							100.0% - JDC B-LAB GmbH
							100.0% - FINUM.PRIVATE Finance Holding GmbH (Germany)
								100.0% - FINUM.Finanzhause AG
								100.0% - FINUM.Pension Consulting GmbH
								100.0% - FINUM.Private Finance AG

C-41

					100.0% - FVV – GmbH
			100.0% - FINUM.PRIVATE Finance Holding GmbH (Austria)
				100.0% - FINUM.Private Finance AG
					100.0% - Jung, DMS & Cie. GmbH
					51.0% - Jupoo finance GmbH
100.0% - CL Abbey Limited
	20.0% - Canada Life International Assurance (Ireland) Designated Activity Company (80.0% owned by The Canada Life Group (U.K.) Limited)
100.0% - Canada Life Re Ireland dac
	100.0% - Canada Life Dublin dac
100.0% - Canada Life Group Services Limited
	100.0% - Canada Life Europe Investment Limited
			100.0% - Canada Life Europe Management Services Limited
					21.33% - Canada Life Assurance Europe Limited (78.67% owned by Canada Life Europe Investment Limited)
			78.67% - Canada Life Assurance Europe Limited (21.33% owned by Canada Life Europe Management Services Limited)
100.0% - Irish Life Investment Managers Limited
	100.0% - Summit Asset Managers Limited
			7.0% - Irish Association of Investment Managers CLG
100.0% - Setanta Asset Management Limited
100.0% - Canada Life Pension Managers & Trustees Limited
100.0% - Canada Life Asset Management Limited
100.0% - Canada Life European Real Estate Limited
	100.0% - Hotel Operations (Walsall) Limited
	100.0% - Hotel Operations (Cardiff) Limited
100.0% - Canada Life Trustee Services (U.K.) Limited
100.0% - CLFIS (U.K.) Limited
	100.0% - Canada Life UK Staff Pension Trustee Limited
100.0% - MGM Advantage Holdings Limited
	100.0% - Stonehaven UK Limited
	100.0% - MGM Advantage Services Limited
	100.0% - MGM Advantage Life Limited
		100.0% - MGM Advantage Life Trustee Limited
		100.0% - Canada Life SIPP Trustee Limited
100.0% - Canada Life Limited
	26.0% - ETC Hobley Drive Management Company Limited
	100.0% - Synergy Sunrise (Wellington Row) Limited
	76.0% - Radial Park Management Limited
	100.0% - Canada Life (U.K.) Limited
			100.0% - Albany Life Assurance Company Limited
			100.0% - Canada Life Management (U.K.) Limited
			100.0% - Canada Life Services (U.K.) Limited
			100.0% - Canada Life Fund Managers (U.K.) Limited
			100.0% - Canada Life Group Services (U.K.) Limited
			100.0% - Canada Life Holdings (U.K.) Limited
	100.0% - Canada Life Irish Operations Limited

C-42

					100.0% - Canada Life Ireland Holdings Limited.
				100.0% - Irish Life Group Limited
					100.0% - ILGAPT Limited
					100.0% - ILGWM Limited
					100.0% - Irish Life Health dac
					100.0% - Irish Progressive Services International Ltd
					100.0% - Irish Life Group Services Limited
					100.0% - Irish Life Financial Services Ltd.
					100.0% - Glohealth Financial Services Limited
					49.0% - Affinity First Limited (51.0% interest unknown)
					100.0% - Vestone Ltd.
								100.0% - Cornmarket Group Financial Services Limited
								100.0% - Cornmarket Insurance Services Limited
									25.0% EIS Financial Services Limited (75.0% interest unknown)
								100.0% - Cornmarket Retail Trading Ltd.
					100.0% - Irish Life Associate Holdings Unlimited Company
						100.0% - Irish Life Irish Holdings Unlimited Company
					75.0% - 1939 ILIV Consulting Limited
						100.0% - Invesco Limited
							100.0% - Invesco Trustee DAC
										100.0% - City Life Limited
							100.0% - ILP Pension Trustees DAC
					100.0% - Irish Life Assurance plc.
						100.0% - Ilona Financial Group, Inc.
						100.0% - Irish Life Trustee Services Limited
						100.0% - Stephen Court Limited
						100.0% - (2,3&4) Basement Company Limited
						66.66% - City Gate Park Administration Limited
						51.0% - SJRQ Riverside IV Management Company Ltd.
						50.0% - Hollins Clough Management Company Ltd.
						50.0% - Dakline Company Ltd.
						20.0% - Choralli Limited
						5.5% - Padamul Ltd.
						18.2143% - Tour Esplanade (Paris) LP
	100.0% - 4073649 Canada, Inc.
		100.0% - CL Luxembourg Capital Management S.á.r.l.
			45.0% - Wealthsimple Europe S.á.r.l.
				100.0% - Wealthsimple UK Ltd.
				100.0% - Wealthsimple Germany GmbH
				100.0% - Wealthsimple Technologies Europe
		100.0% - Canada Life Finance (U.K.) Limited
	100.0% - 8478163 Canada Limited
		100.0% - Canada Life Capital Bermuda Limited
	100.0% - 9983813 Canada Inc.
		100.0% - Canada Life Capital Bermuda III Limited
	100.0% - Canada Life Capital Bermuda II Limited
22.0% - Great-West Investors Holdco Inc. (23% owned by GWL THL I Private Equity I Inc., 55% owned by The Great-West Life Assurance Company)

C-43

	100.0% - CL 22 Chapel GP Inc.
		0.001% - CL 22 Chapel LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL 22 Chapel GP (0.001%owned by CL 22 Chapel GP Inc.)
	100.0% - CL Eastlake GP Inc.
		0.001% - CL Eastlake LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL Eastlake LP (0.001% owned by CL Eastlake GP Inc.)
	100.0% - CL Lago GP Inc.
		0.001% - CL Lago LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL Lago LP (0.001% owned by CL 22 Chapel GP Inc.)
	100.0% - CL 431 La Cienega GP Inc.
		0.001% - CL 431 La Cienega LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL 431 La Cienega LP (0.001% owned by CL 431 La Cienega GP Inc.)
100.0% - The Canada Life Insurance Company of Canada
	24.99%- 7420928 Manitoba Limited Partnership (24.99% limited partner interest held by The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company; 7419521 Manitoba Ltd. holds 0.04% interest)
	100.0% - 6855572 Manitoba Ltd.
	94.4% - MAM Holdings Inc. (5.6% owned by The Great-West Life Assurance Company)
		100.0% - Mountain Asset Management LLC
	12.5% - 2331777 Ontario Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 2344701 Ontario Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - Vaudreuil Shopping Centres Limited (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 2356720 Ontario Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 0977221 B.C. Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 555 Robson Holding Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	58.8% - GWL THL Private Equity I Inc. (11.8% The Canada Life Assurance Company, 29.4% The Great-West Life Assurance Company)
		100.0% - GWL THL Private Equity II Inc.
	16.0% - 2148902 Alberta Ltd. (53% owned by London Life Insurance Company, 26% by The Great-West Life Assurance Company and 5% by The Canada Life Assurance Company)
	30.0% - 2157113 Alberta Ltd (40% owned by London Life Insurance Company, 20% by The Great-West Life Assurance Company and 10% by The Canada Life Assurance Company)
		100.0% - Great-West Investors Holdco Inc.
			100.0% - Great-West Investors LLC
				100.0% - Great-West Investors LP Inc.
					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100.0% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% Great-West Investors LP Inc.)
							100.0% - T.H. Lee Interests
100.0% - CL Capital Management (Canada), Inc.
100.0% - Canada Life Mortgage Services Ltd.
11.8% - GWL THL Private Equity I Inc. (29.4% owned by The Great-West Life Assurance Company, 58.8% owned by The Canada Life Insurance Company of Canada)
	100.0% - GWL THL Private Equity II Inc.
	100.0% - Great-West Investors Holdco Inc.
			100.0% - Great-West Investors LLC
				100.0% - Great-West Investors LP Inc.

C-44

				99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
					100% - T.H. Lee Interests
				100.0% - Great-West Investors GP Inc.
					1.0% - Great-West Investors LP (99.0% Great-West Investors LP Inc.)
						100.0% - T.H. Lee Interests
100.0% - Canada Life Capital Trust
100.0% - Great-West US RE Holdings, Inc.
	100.0% - CL Burlingame, LLC
		10.0% - PGEW Burlingame, LLC
			100.0% - EW PG – Airport Owner, LLC

D.

IGM Financial Inc. Group of Companies (Canadian mutual funds) 

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		64.057% - Power Financial Corporation
			62.080% - IGM Financial Inc. (direct and indirect 65.948%)
				100.0% - Investors Group Inc.
						100.0% - Investors Group Financial Services Inc.
						100.0% - I.G. International Management Limited
						100.0% - 11249142 Canada Inc.
						100.0% - Investors Group Trust Co. Ltd.
						100.0% - I.G. Insurance Services Inc.
						100.0% - Investors Syndicate Limited
						100.0% - Investors Group Securities Inc.
						100.0% - 6460675 Manitoba Ltd.
						100.0% - I.G. Investment Management, Ltd.
							100.0% - Investors Group Corporate Class Inc.
							100.0% - Investors Syndicate Property Corp.
							100.0% - 0992480 B.C. Ltd.
							100.0% - 1081605 B.C. Ltd.
							100.0% - 11263552 Canada Inc.
				100.0% - Mackenzie Inc.
					100.0% - Mackenzie Financial Corporation
						100.0% - Mackenzie Investments Europe Limited
								100.0% - Mackenzie Investments Asia Limited
						100.0% - Mackenzie Investments Charitable Foundation
						14.28% - Strategic Charitable Giving Foundation
						100.0% - Mackenzie Financial Capital Corporation
						100.0% - Multi-Class Investment Corp.
						100.0% - MMLP GP Inc.
						100.0% - Mackenzie Investments Corporation
						100.0% - Mackenzie U.S. Fund Management Inc.
						13.9% - China Asset Management Co., Ltd.
						100.0% - MGELS Fund Management (Cayman) Ltd.
						100.0% - MGELS Investments Limited
						100.0% - MEMLS Fund Management (Cayman) Ltd.

C-45

		100.0% - Mackenzie EM Funds Management (Cayman) Ltd.
100.0% - Investment Planning Counsel Inc.
		100.0% - IPC Investment Corporation
		100.0% - IPC Estate Services Inc.
		100.0% - IPC Securities Corporation
			100.0% - Counsel Portfolio Services Inc.
				100.0% - Counsel Portfolio Corporation
18.54% - Portag3 Ventures LP
	19.82% - Springboard LP
55.23% - Springboard LP
	85.29% - WealthSimple Financial Corp.
29.33% - Springboard II LP
25.44% - Personal Capital Corporation
	100.0% - Personal Capital Services Corporation
	100.0% - Personal Capital Advisors Corporation
	100.0% - Personal Capital Technology Corporation
33.3% - Portag3 Ventures II Affiliates LP
	31.97% - Portag3 ventures II LP

E.

Pargesa Holding SA Group of Companies (European investments) 

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		64.057% - Power Financial Corporation
			100.0% - Power Financial Europe B.V.
				50.0% - Parjointco N.V.
					75.4% - Pargesa Holding SA (55.5% capital)
						100.0% - Pargesa Netherlands B.V.
							51.7% (taking into account the treasury shares - Groupe Bruxelles Lambert (50.0% in capital)
								Capital
								12.0% - Pernod Ricard (7.5% in capital)
								17.9% - Umicore
								19.8% - Ontex
								0.4% - LTI One SA
								96.5% - FINPAR II SA
										0.1% - Groupe Bruxelles Lambert
										0.1% - Ontex
								90.2% - FINPAR III SA
									0.1% - Groupe Bruxelles Lambert
									0.1% - GEA
								94.4% - FINPAR IV SA
									0.1% - Groupe Bruxelles Lambert
									0.1% - Imerys
								1.2% - Sagerpar SA
								100.0% - Belgian Securities BV
										Capital
											67.6% - Imerys (53.9% in capital)

C-46

100.0% - Brussels Securities SA
	Capital
		99.6% - LTI One SA
				0.1% - Groupe Bruxelles Lambert
		100.0% - LTI Two SA
				0.1% - Groupe Bruxelles Lambert
				0.1% - Umicore
		100.0% - URDAC SA
				0.1% - Groupe Bruxelles Lambert
		100.0% - FINPAR SA
				0.1% - Groupe Bruxelles Lambert
		98.8% - Sagerpar SA
				2.5% - Groupe Bruxelles Lambert
		10.0% - GBL Participations SA
		10.0% - Brussels Advisors SA
100.0% - GBL O
90.0% - GBL Participations SA
90.0% - Brussels Advisors SA
100.0% - GBL Advisors Limited
	5.4% - FINPAR III SA
100.0% - GBL Development Limited
100.0% - RPCE Consulting SAS
100.0% - GBL Verwaltung SA
	Capital
		100.0% - GBL Investments Limited
		100.0% - GBL R S.á.r.l.
		100.0% - GBL Energy S.á.r.l.
			Capital
			1.1% - Total (0.6% in capital)
		100.0% - Serena S.á.r.l.
				Capital
				16.7% - SGS
				100.0% - Eliott Capital S.á.r.l.
				Capital
				7.6% - LafargeHolcim
		100.0% - Sienna Capital S.á.r.l
				Capital
				100.00% - Sienna Capital London Ltd.
		100.0% Sienna Capital Invest SCSp
				Capital
				0.3% - Sagard II A FPCI
				75.0% - Sagard II B FPCI
				26.9% - Sagard 3 FPCI
				29.6% - Kartesia Credit Opportunities III SCA, SICAV-SIF
				17.2% - Kartesia Credit Opportunities IV SCS
				22.2% - Kartesia Management SA
				78.3% - PrimeStone Capital Fund ICAV

C-47

	1.7% - PrimeStone Capital Special Limited Partner SCSp
	9.8% - BDT Capital Partners Fund II (INT),L.P.
	7.2% - Fund II – A Spirits, LP
	16.4% - Matador Coininvestment SCSP
	3.1% - Carlyle International Energy Partners II – EU SCSp
	100.0% - Sienna Capital Participations S.á.r.l
	Capital
	10.8% - Sagard FCPR
	50.0% - Ergon Capital Partners SA
	42.4% - Ergon Capital Partners II SA
	89.9% - Ergon Capital Parnters III SA
	34.4% - Ergon Capital Partners IV, SCSp
	15.9% - Ergon ospeo Long Term Value Fund SCSp
	15.1% - Mérieux Participations SAS
	34.3% - Mérieux Participations 2 SAS
	34.9% - KKR Sigma Co-Invest II L.P.
	6.87% - StreetTeam Software Limited (DBA as Pollen)
48.6% - Backed 1 LP
9.6% - Backed 1 Founder LP
100.0% - Backed Encore 1 LP
10.0% - Backed Encore 1 Founder LP
100.0% - Backed 2 LP
10.0% - Backed 2 Founder LP
100.0% - Marcho Partners Feeder Fund ICAV
100.0% - GBL Finance S.á.r.l
100.0% - Miles Capital S.á.r.l
Capital
23.1% - Piolin II S.á.r.l
	Capital
	100.0% - Piolin Spain SAU
	Capital
	99.5% - Parques Reunidos
100.0% - Oliver Capital S.á.r.l
	Capital
	8.4% - GEA
100.0% - Theo Capital S.á.r.l
	Capital
	6.8% - adidas
100.0% - Owen Capital S.á.r.l
3.5% - FINPAR II SA
4.4% - FINPAR III SA
5.6% - FINPAR IV SA
100.0% - Sapiens S.á.r.l
	Capital
	64.7% – Marnix Lux SA
	Capital
	100.0% - Marnix French ParentCo SAS

C-48

Capital

100.0% - Marnix French TopCo SAS

Capital

100.0% - Marnix SAS

Capital

100.0% - Courcelles Lux SCA

Capital

100.0% - Wowholdco SAS

Capital

100.0% - Wowmidco SAS

Capital

100.0% - Wowbidco SAS

Capital

100.0% - Webhelp SAS

F.

Power Corporation (International) Limited Group of Companies (Asian investments) 

Power Corporation of Canada
	100.0% - Power Corporation (International) Limited
		99.9% - Power Pacific Corporation Limited
			0.1% - Power Pacific Equities Limited
		99.9% - Power Pacific Equities Limited
	100.0% - Power Communications Inc.
		0.1% - Power Pacific Corporation Limited
	13.9% - China Asset Management Limited

G.

Other PCC Companies 

Power Corporation of Canada
	100.0% - 152245 Canada Inc.
		100.0% - 3540529 Canada Inc.
	100.0% - Square Victoria Real Estate Inc./ Square Victoria Immobilier Inc.
		100.0% - SVRE Management Inc.
		70.0% - 7 Saint-Jacques GP Inc.
			0.01% 7 Saint-Jacques Limited Partnership
		49.99% - 7 Saint-Jacques Limited Partnership
	100.0% - 3121011 Canada Inc.
	100.0% - 171263 Canada Inc.
	100.0% - Power Sustainable Capital Investments Inc.
			100.0% - Power Pacific Investment Management Inc.
				100.0% - Sagard China Absolute Return A Share Fund (Canada) GP Inc.
					100.0% - Sagard China Absolute Return A Share Fund (Canada) LP
				100.0% - Power Pacific Investment Management (Ireland) Limited
				100.0% - Power Sagard (Shanghai) Investment Management Co., Ltd.
			8.92% - Bellus Health Inc.
			25.0% (voting) - 9314-0093 Québec Inc. (formerly Club de Hockey Les Remparts de Québec Inc.)
			100.0% - Power Energy Corporation

C-49

	100.0% - Potentia Renewables Inc.
		75.0% - Paintearth Wind Project LP
		100.0% - Stirling Wind Project LP
		75.0% - Wheatland Wind Project LP
		100.0% - Emerald Solar Energy, SRL
		100.0% - Jenner Wind Limited Partnership
		100.0% - Power Renewable Energy Corporation
		100.0% - Sequoia Energy Inc.
			100.0% - Sequoia Energy US Inc.
			100.0% - Musselshell Wind Holdings, LLC
			100.0% - Musselshell Wind Project, LLC
			100.0% - Musselshell Wind Project Two, LLC
		100.0% - Potentia Solar Holdings II Limited Partnership
			100.0% Potentia Solar Holdings Limited Partnership
			100.0% - Schooltop Solar LP
			85.0% - Reliant First Nations LP
			100.0% - PSI Solar Finance 1 LP
			100.0% - MOM Solar LP
			100.0% - Potentia Solar 5 LP
			100.0% - Potentia Solar 6 LP
			100.0% - Potentia Solar 7 LP
			100.0% - Potentia Solar 9 LP
			100.0% - Potentia Solar 14 LP
	100.0% - Solarize Holdings Corp.
	100.0% - Potentia Solar Holdings Corp.
		100.0%- Banjo Solar Holdings Corp.
		64.0% - Potentia MN Solar Fund I, LLC
	100.0% - Golden South Wind LP
	100.0% - Potentia Renewables 15 LP (Affinity and RT Solar)
	100.0% - Potentia Renewables 16 LP (Solar Gardens)
	50.0% - Pokeshaw Windfarm LP
100.0% - Power Energy Corporation US
	100.0% - Nautilus Solar Energy, LLC
		100.0% - Nautilus Helios Solar Torsk, LLC
			100.0% - Bulldog Solar One LLC
			100.0% - Burns Solar One LLC
			100.0% - MVR Solar One LLC
			100.0% - Mason Solar One,LLC
			100.0% - Pittman Solar One LLC
			100.0% - Chesapeake Energy One, LLC
		100.0% - Nautilus Solar Solutions, LLC
		100.0% - Nautilus Castle Solar, LLC
		100.0% - NSE Sackets Solar, LLC
			100.0% - Clifton Park Solar 1, LLC
			100.0% - Clifton Park Solar 2, LLC
			100.0% - Hamlin Solar 1, LLC
		100.0% - NSE Stag Industrial MA 1, LLC

C-50

	100.0% - NSE Beacon Solar, LLC
		100.0% - ISM Solar Cranston
	100.0% - P52ES Raphael Rd Community Solar, LLC (White Marsh)
	100.0% - P52ES 1755 Henryton Road Phase I, LLC
	100.0% - P52ES 1755 Henryton Road Phase 2, LLC
	100.0% - P52ES 12855 Frederick Road Phase 1, LLC (Triple Creek)
	100.0% - Nautilus Helios Solar Blackpoint, LLC
		100.0% - TPE King Solar Holdings1, LLC
		100.0% - TPE King Solar Holdings2, LLC
	100.0% - Nautilus Solar Construction Holdco, LLC
		100.0% - TPE Hopkins Solar Holdings1, LLC
	100.0% - Nautilus Slar Term Holdco, LLC
	100.0% - Nautilus Solar Canada Inc.
		100.0% - 2241091 Ontario Inc. GP
	100.0% - Prowind Renewable Inc
		- 100.0% - Bright Oak Solar
		100.0% - River Valley Solar LLC
		100.0% - Bright Hill Solar LLC
		100.0% - Bright Field Solar LLC
	100.0% - Virgo KAM MM Holdco, LLC
		1.0% - Virgo KAM Holdco, LLC
			100.0% - Lindstrom Solar LLC
			100.0% - Winstead Solar LLC
			100.0% - Saint Cloud Solar LLC
	100.0% - VH Holdco I, LLC
		1.0% – VH WB Holdco, LLC
			100.0% - VH West Brookfield LLC
		100% - VH Lordsburg Holdco, LLC
			100.0% - Nautilus Solar Lordsburg, LLC
		100.0% – VH Salem Holdco, LLC
			100.0% - NS Salem Community College, LLC
		100.0% - VH Kilroy Holdco, LLC
			100.0% - VH Kilroy Solar, LLC
		100.0% - VH BHA Holdco, LLC
			100.0% - GES Megafourteen LLC
		100.0% - Virgo Goat Island MM Holdco, LLC
			1.0% - Virgo Goat Island Holdco, LLC
			100.0% -Nautilus Goat Island Solar, LLC
		100.0% – NS Belle Mead, LLC
60.51% - Lumenpulse Group Inc.
	100.0% - Lumenpulse Finance Corp.
	100.0% - Lumenpulse Lighting Corp.
		80.93% - Sternberg Lanterns, Inc.
	100.0% - Exenia s.r.l.
	100.0% - Lumenpulse UK Limited
		100.0% - Lumenpulse Alphaled Limited
44.15% - The Lion Electric Company

C-51

100.0% - Power Communications Inc.
		100.0% - Brazeau River Resources Investments Inc.
100.0% - PCC Industrial (1993) Corporation
100.0% - Power Corporation International
100.0% - Sagard Holdings Participation Inc.
	100.0% - Sagard Credit Partners GP, Inc.
		100.0% - Sagard Credit Partners, LP
	100.0% - Sagard Holdings Manager GP Inc.
		100.0% - Sagard Holdings Manager LP
	100.0% - Sagard Credit Partners (Cayman) GP, Inc.
		100.0% - Sagard Credit Partners (Cayman), LP
	100.0% - Sagard Healthcare Royalty Partners GP LLC
		100.0% - Sagard Healthcare Royalty Partners, LP
	100.0% - Portag3 Ventures GP Inc.
		100.0% - Portag3 Ventures Participation ULC
		100.0% - Portag3 Ventures Participation Inc.
		100.0% - Portag3 Ventures Participation US LP
		100.0% - Portag3 Ventures II Affiliates GP Inc.
				100.0% - Portag3 Ventures II Affiliates LP
		100.0% - Portag3 Ventures LP
				100.0% - Portag3 International Investments Inc.
	100.0% - Portag3 Ventures II GP Inc.
		100.0% - Portage3 Ventures II LP
		100.0% - Portag3 Ventures II Investments LP
				100.0% - Portag3 Ventures II International Investments Inc.
		100.0% - Portag3 Ventures II International LP
		100.0% - Portag3 Ventures II International (FI) LP
		100.0% - Portag3 Ventures II Carried Interest LP
		100.0% - Portag3 Ventures II Carried Interest US LP
	100.0% - Springboard III GP Inc.
		100.0% - Springboard III LP
	100.0% - Sagard Holdings ULC
		4.0% - 1069759 B.C. Unlimited Liability Company
		100.0% - Sagard Credit Partners Carried Interest GP Inc.
			100.0% - Sagard Credit Partners Carried Interest LP
		100.0% - Sagard Capital Partners GP, Inc.
			100.0% - Sagard Capital Partners, L.P.
				21.4% - GP Strategies Corp.
				4.23% - Jaguar Health Inc.
				96.0% - 1069759 B.C. Unlimited Liability Company
					91.6 % - Integrated Fertility Holding, LLC
		50.0% - Peak Achievement Athletics Inc. (42.58% equity)
			100.0% - 10094439 Canada Inc.
			100.0% - 10094455 Canada Inc.
				100.0% - Limited Partnership Interests in Peak Management Participation LP
				100.0% - 1167410 B.C. Unlimited Liability Company
					100.0% - General Partnership Interests in Peak Management Participation LP

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					100.0% - Limited Partnership Interests in Peak Holdings LP
					100.0% - 1167387 B.C. Unlimited Liability Company
					100.0% - General Partnership Interests in Peak Holdings LP
					100.0% - Bauer Hockey Ltd.
					100.0% - Bauer Innovations Canada Ltd.
					100.0% - Bauer Hockey AB
					100.0% - Bauer Hockey GmbH
					100.0% - Performance Sports Group Hong Kong Ltd.
					100.0% - Jacmal BV
					100.0% - Bauer CR spol s.r.o.
					100.0% - BCE Acquisitions US, Inc.
					100.0% - Bauer Innovations US, LLC
					100.0% - Easton Diamond Sports, LLC
					100.0% - Bauer Hockey LLC
					100.0% - Cascade Maverik Lacrosse, LLC
					100.0% - Bauer Hockey Retail, LLC
100.0% - Power Corporation of Canada Inc.
	100.0% - 4190297 Canada Inc.
	100.0% - Sagard Capital Partners Management Corp.
100.0% - Sagard S.A.S.
100.0% - Marquette Communications (1997) Corporation
100.0% - 4507037 Canada Inc.
100.0% - 4524781 Canada Inc.
100.0% - 4524799 Canada Inc.
100.0% - 4524802 Canada Inc.
100.0% - Square Victoria Communications Group Inc.
	100.0% - Gesca Ltee
			100.0% Gestion Gesca Inc.
				100.0% - 11249177 Canada Inc.
				100.0% - 10206911 Canada Inc.
				100.0% - Gesca Numerique Inc.
			100.0% - 9214470 Canada Inc.
	100.0% - Square Victoria Digital Properties Inc.
		100.0% Les Editions Plus Ltee
		50.0% - 1004096 Canada Inc. (“workopolis”)

H.

Other PFC Companies 

Power Financial Corporation
	100.0% - 4400003 Canada Inc.
	100.0% - 3411893 Canada Inc.
	100.0% - 3439453 Canada Inc.
	100.0% - Power Financial Capital Corporation
	100.0% - 7973594 Canada Inc.
	100.0% - 7973683 Canada Inc.
	100.0% - 7974019 Canada Inc.
	100.0% - PFC Ventures Inc.

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100.0% - 9194649 Canada Inc.
	100.0% - Springboard L.P.
85.29.% - Wealthsimple Financial Corp. (84.87% equity)
	100.0% - Wealthsimple Inc.
	100.0% - Wealthsimple Advisor Services Inc.
	100.0% - Canadian ShareOwner Investments Inc.
	100.0% - CSA Computing Inc.
	100.0% - Wealthsimple US, Ltd.
	100.0% - Wealthsimple Technologies Inc.
	100.0% - Wealthsimple Investments US, Ltd.
	51.00% - Wealthsimple Europe S.a.r.l
		100.0% - Wealthsimple UK Ltd.
		100.0% - Wealthsimple Germany GmbH
		100.0% - Wealthsimple Technologies Europe Ltd

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Item 27. Number of Contract Owners

As of March 12,2021, there were 187 Contract Owners; 156 were Non-Qualified Contracts and 31 were Qualified Contracts.

Item 28. Indemnification

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

Provisions exist under the laws of the State of New York and the Bylaws of Great-West of New York whereby Great-West of New York may indemnify a director, officer or controlling person of Great-West of New York against liabilities arising under the Securities Act of 1933. The following excerpts contain the substance of these provisions:

New York Business Corporation Law

Section 719. Liability of directors in certain cases 

(a)	Directors of a corporation who vote for or concur in any of the following corporate actions shall be jointly and severally liable to the corporation for the benefit of its creditors or shareholders, to the extent of any injury suffered by such persons, respectively, as a result of such action:
	(1)	The declaration of any dividend or other distribution to the extent that it is contrary to the provisions of paragraphs (a) and (b) of section 510 (Dividends or other distributions in cash or property).
	(2)	The purchase of the shares of the corporation to the extent that it is contrary to the provisions of section 513 (Purchase or redemption by a corporation of its own shares).
	(3)	The distribution of assets to shareholders after dissolution of the corporation without paying or adequately providing for all known liabilities of the corporation, excluding any claims not filed by creditors within the time limit set in a notice given to creditors under articles 10 (Non-judicial dissolution) or 11 (Judicial dissolution).
	(4)	The making of any loan contrary to section 714 (Loans to directors).
(b)	A director who is present at a meeting of the board, or any committee thereof, when action specified in paragraph (a) is taken shall be presumed to have concurred in the action unless his dissent thereto shall be entered in the minutes of the meeting, or unless he shall submit his written dissent to the person acting as the secretary of the meeting before the adjournment thereof, or shall deliver or send by registered mail such dissent to the secretary of the corporation promptly after the adjournment of the meeting. Such right to dissent shall not apply to a director who voted in favor of such action. A director who is absent from a meeting of the board, or any committee thereof, when such action is taken shall be presumed to have concurred in the action unless he shall deliver or send by registered mail his dissent thereto to the secretary of the corporation or shall cause such dissent to be filed with the minutes of the proceedings of the board or committee within a reasonable time after learning of such action.
(c)	Any director against whom a claim is successfully asserted under this section shall be entitled to contribution from the other directors who voted for or concurred in the action upon which the claim is asserted.

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(d)	Directors against whom a claim is successfully asserted under this section shall be entitled, to the extent of the amounts paid by them to the corporation as a result of such claims:
	(1)	Upon payment to the corporation of any amount of an improper dividend or distribution, to be subrogated to the rights of the corporation against shareholders who received such dividend or distribution with knowledge of facts indicating that it was not authorized by section 510, in proportion to the amounts received by them respectively.
	(2)	Upon payment to the corporation of any amount of the purchase price of an improper purchase of shares, to have the corporation rescind such purchase of shares and recover for their benefit, but at their expense, the amount of such purchase price from any seller who sold such shares with knowledge of facts indicating that such purchase of shares by the corporation was not authorized by section 513.
	(3)	Upon payment to the corporation of the claim of any creditor by reason of a violation of subparagraph (a)(3), to be subrogated to the rights of the corporation against shareholders who received an improper distribution of assets.
	(4)	Upon payment to the corporation of the amount of any loan made contrary to section 714, to be subrogated to the rights of the corporation against a director who received the improper loan.
(e)	A director shall not be liable under this section if, in the circumstances, he performed his duty to the corporation under paragraph (a) of section 717.
(f)	This section shall not affect any liability otherwise imposed by law upon any director.

Section 720. Action against directors and officers for misconduct. 

(a)	An action may be brought against one or more directors or officers of a corporation to procure a judgment for the following relief:
	(1)	Subject to any provision of the certificate of incorporation authorized pursuant to paragraph (b) of section 402, to compel the defendant to account for his official conduct in the following cases:
		(A)	The neglect of, or failure to perform, or other violation of his duties in the management and disposition of corporate assets committed to his charge.
		(B)	The acquisition by himself, transfer to others, loss or waste of corporate assets due to any neglect of, or failure to perform, or other violation of his duties.
		(C)	In the case of directors or officers of a benefit corporation organized under article seventeen of this chapter: (i) the failure to pursue the general public benefit purpose of a benefit corporation or any specific public benefit set forth in its certificate of incorporation; (ii) the failure by a benefit corporation to deliver or post an annual report as required by section seventeen hundred eight of article seventeen of this chapter; or (iii) the neglect of, or failure to perform, or other violation of his or her duties or standard of conduct under article seventeen of this chapter.
	(2)	To set aside an unlawful conveyance, assignment or transfer of corporate assets, where the transferee knew of its unlawfulness.
	(3)	To enjoin a proposed unlawful conveyance, assignment or transfer of corporate assets, where there is sufficient evidence that it will be made.
(b)	An action may be brought for the relief provided in this section, and in paragraph (a) of section 719 (Liability of directors in certain cases) by a corporation, or a receiver, trustee in bankruptcy, officer, director or judgment creditor thereof, or, under section 626 (Shareholders' derivative action brought in the right of the corporation to procure a judgment in its favor), by a shareholder, voting trust certificate holder, or the owner of a beneficial interest in shares thereof.
(c)	This section shall not affect any liability otherwise imposed by law upon any director or officer.

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Section 721. Nonexclusivity of statutory provisions for indemnification of directors and officers.

The indemnification and advancement of expenses granted pursuant to, or provided by, this article shall not be deemed exclusive of any other rights to which a director or officer seeking indemnification or advancement of expenses may be entitled, whether contained in the certificate of incorporation or the by-laws or, when authorized by such certificate of incorporation or by-laws, (i) a resolution of shareholders, (ii) a resolution of directors, or (iii) an agreement providing for such indemnification, provided that no indemnification may be made to or on behalf of any director or officer if a judgment or other final adjudication adverse to the director or officer establishes that his acts were committed in bad faith or were the result of active and deliberate dishonesty and were material to the cause of action so adjudicated, or that he personally gained in fact a financial profit or other advantage to which he was not legally entitled. Nothing contained in this article shall affect any rights to indemnification to which corporate personnel other than directors and officers may be entitled by contract or otherwise under law.

Section 722. Authorization for indemnification of directors and officers. 

(a)	A corporation may indemnify any person made, or threatened to be made, a party to an action or proceeding (other than one by or in the right of the corporation to procure a judgment in its favor), whether civil or criminal, including an action by or in the right of any other corporation of any type or kind, domestic or foreign, or any partnership, joint venture, trust, employee benefit plan or other enterprise, which any director or officer of the corporation served in any capacity at the request of the corporation, by reason of the fact that he, his testator or intestate, was a director or officer of the corporation, or served such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise in any capacity, against judgments, fines, amounts paid in settlement and reasonable expenses, including attorneys' fees actually and necessarily incurred as a result of such action or proceeding, or any appeal therein, if such director or officer acted, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service for any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the corporation and, in criminal actions or proceedings, in addition, had no reasonable cause to believe that his conduct was unlawful.
(b)	The termination of any such civil or criminal action or proceeding by judgment, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not in itself create a presumption that any such director or officer did not act, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service for any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the corporation or that he had reasonable cause to believe that his conduct was unlawful.
(c)	A corporation may indemnify any person made, or threatened to be made, a party to an action by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he, his testator or intestate, is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of any other corporation of any type or kind, domestic or foreign, of any partnership, joint venture, trust, employee benefit plan or other enterprise, against amounts paid in settlement and reasonable expenses, including attorneys' fees, actually and necessarily incurred by him in connection with the defense or settlement of such action, or in connection with an appeal therein, if such director or officer acted, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service for any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the corporation, except that no indemnification under this paragraph shall be made in respect of (1) a threatened action, or a pending action which is settled or otherwise disposed of, or (2) any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation, unless and only to the extent that the court in which the action was brought, or, if no action was brought, any court of competent jurisdiction, determines upon application that, in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such portion of the settlement amount and expenses as the court deems proper.

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(d) For the purpose of this section, a corporation shall be deemed to have requested a person to serve an employee benefit plan where the performance by such person of his duties to the corporation also imposes duties on, or otherwise involves services by, such person to the plan or participants or beneficiaries of the plan; excise taxes assessed on a person with respect to an employee benefit plan pursuant to applicable law shall be considered fines; and action taken or omitted by a person with respect to an employee benefit plan in the performance of such person's duties for a purpose reasonably believed by such person to be in the interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose which is not opposed to the best interests of the corporation.

Section 723. Payment of indemnification other than by court award. 

(a)	A person who has been successful, on the merits or otherwise, in the defense of a civil or criminal action or proceeding of the character described in section 722 shall be entitled to indemnification as authorized in such section.
(b)	Except as provided in paragraph (a), any indemnification under section 722 or otherwise permitted by section 721, unless ordered by a court under section 724 (Indemnification of directors and officers by a court), shall be made by the corporation, only if authorized in the specific case:
	(1)	By the board acting by a quorum consisting of directors who are not parties to such action or proceeding upon a finding that the director or officer has met the standard of conduct set forth in section 722 or established pursuant to section 721, as the case may be, or,
	(2)	If a quorum under subparagraph (1) is not obtainable or, even if obtainable, a quorum of disinterested directors so directs;
		(A)	By the board upon the opinion in writing of independent legal counsel that indemnification is proper in the circumstances because the applicable standard of conduct set forth in such sections has been met by such director or officer, or
		(B)	By the shareholders upon a finding that the director or officer has met the applicable standard of conduct set forth in such sections.
(c)	Expenses incurred in defending a civil or criminal action or proceeding may be paid by the corporation in advance of the final disposition of such action or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount as, and to the extent, required by paragraph (a) of section 725.

Section 724. Indemnification of directors and officers by a court. 

(a)	Notwithstanding the failure of a corporation to provide indemnification, and despite any contrary resolution of the board or of the shareholders in the specific case under section 723 (Payment of indemnification other than by court award), indemnification shall be awarded by a court to the extent authorized under section 722 (Authorization for indemnification of directors and officers), and paragraph (a) of section 723. Application therefor may be made, in every case, either:
	(1)	In the civil action or proceeding in which the expenses were incurred or other amounts were paid, or
	(2)	To the supreme court in a separate proceeding, in which case the application shall set forth the disposition of any previous application made to any court for the same or similar relief and also reasonable cause for the failure to make application for such relief in the action or proceeding in which the expenses were incurred or other amounts were paid.
(b)	The application shall be made in such manner and form as may be required by the applicable rules of court or, in the absence thereof, by direction of a court to which it is made. Such application shall be upon notice to the corporation. The court may also direct that notice be given at the expense of the corporation to the shareholders and such other persons as it may designate in such manner as it may require.

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(c) Where indemnification is sought by judicial action, the court may allow a person such reasonable expenses, including attorneys’ fees, during the pendency of the litigation as are necessary in connection with his defense therein, if the court shall find that the defendant has by his pleadings or during the course of the litigation raised genuine issues of fact or law.

Section 725. Other provisions affecting indemnification of directors and officers. 

(a)	All expenses incurred in defending a civil or criminal action or proceeding which are advanced by the corporation under paragraph (c) of section 723 (Payment of indemnification other than by court award) or allowed by a court under paragraph (c) of section 724 (Indemnification of directors and officers by a court) shall be repaid in case the person receiving such advancement or allowance is ultimately found, under the procedure set forth in this article, not to be entitled to indemnification or, where indemnification is granted, to the extent the expenses so advanced by the corporation or allowed by the court exceed the indemnification to which he is entitled.
(b)	No indemnification, advancement or allowance shall be made under this article in any circumstance where it appears:
	(1)	That the indemnification would be inconsistent with the law of the jurisdiction of incorporation of a foreign corporation which prohibits or otherwise limits such indemnification;
	(2)	That the indemnification would be inconsistent with a provision of the certificate of incorporation, a by- law, a resolution of the board or of the shareholders, an agreement or other proper corporate action, in effect at the time of the accrual of the alleged cause of action asserted in the threatened or pending action or proceeding in which the expenses were incurred or other amounts were paid, which prohibits or otherwise limits indemnification; or
	(3)	If there has been a settlement approved by the court, that the indemnification would be inconsistent with any condition with respect to indemnification expressly imposed by the court in approving the settlement.
(c)	If any expenses or other amounts are paid by way of indemnification, otherwise than by court order or action by the shareholders, the corporation shall, not later than the next annual meeting of shareholders unless such meeting is held within three months from the date of such payment, and, in any event, within fifteen months from the date of such payment, mail to its shareholders of record at the time entitled to vote for the election of directors a statement specifying the persons paid, the amounts paid, and the nature and status at the time of such payment of the litigation or threatened litigation.
(d)	If any action with respect to indemnification of directors and officers is taken by way of amendment of the bylaws, resolution of directors, or by agreement, then the corporation shall, not later than the next annual meeting of shareholders, unless such meeting is held within three months from the date of such action, and, in any event, within fifteen months from the date of such action, mail to its shareholders of record at the time entitled to vote for the election of directors a statement specifying the action taken.
(e)	Any notification required to be made pursuant to the foregoing paragraph (c) or (d) of this section by any domestic mutual insurer shall be satisfied by compliance with the corresponding provisions of section one thousand two hundred sixteen of the insurance law.
(f)	The provisions of this article relating to indemnification of directors and officers and insurance therefor shall apply to domestic corporations and foreign corporations doing business in this state, except as provided in section 1320 (Exemption from certain provisions).

Section 726. Insurance for indemnification of directors and officers.

(a)  Subject to paragraph (b), a corporation shall have power to purchase and maintain insurance: 

(1) To indemnify the corporation for any obligation which it incurs as a result of the indemnification of directors and officers under the provisions of this article, and

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	(2)	To indemnify directors and officers in instances in which they may be indemnified by the corporation under the provisions of this article, and
	(3)	To indemnify directors and officers in instances in which they may not otherwise be indemnified by the corporation under the provisions of this article provided the contract of insurance covering such directors and officers provides, in a manner acceptable to the superintendent of financial services, for a retention amount and for co-insurance.
(b)	No insurance under paragraph (a) may provide for any payment, other than cost of defense, to or on behalf of any director or officer:
	(1)	if a judgment or other final adjudication adverse to the insured director or officer establishes that his acts of active and deliberate dishonesty were material to the cause of action so adjudicated, or that he personally gained in fact a financial profit or other advantage to which he was not legally entitled, or
	(2)	in relation to any risk the insurance of which is prohibited under the insurance law of this state.
(c)	Insurance under any or all subparagraphs of paragraph (a) may be included in a single contract or supplement thereto. Retrospective rated contracts are prohibited.
(d)	The corporation shall, within the time and to the persons provided in paragraph (c) of section 725 (Other provisions affecting indemnification of directors or officers), mail a statement in respect of any insurance it has purchased or renewed under this section, specifying the insurance carrier, date of the contract, cost of the insurance, corporate positions insured, and a statement explaining all sums, not previously reported in a statement to shareholders, paid under any indemnification insurance contract.
(e)	This section is the public policy of this state to spread the risk of corporate management, notwithstanding any other general or special law of this state or of any other jurisdiction including the federal government.

Bylaws of Great-West of New York

ARTICLE II, SECTION 11. Indemnification of Directors. The corporation may, by resolution of the Board of Directors, indemnify and save harmless out of the funds of the corporation to the extent permitted by applicable law, any Director, Officer, or employee of the corporation or any member or officer of any Committee, and his or her heirs, executors, and administrators, from and against all claims, liabilities, costs, charges, and expenses whatsoever that any such Director, Officer, employee, or any such member or officer sustains or incurs in or about any action, suit, or proceeding that is brought, commenced, or prosecuted against him or her for or in respect of any act, deed, matter, or thing whatsoever, made, done, or permitted by him or her in or about the execution of the duties of his or her office or employment with the corporation, in or about the execution of his or her duties as a Director or Officer of another company which he or she so serves at the request and on behalf of the corporation, or in or about the execution of his or her duties as a member or officer of any such Committee, and all other claims, liabilities, costs, charges, and expenses that he or she sustains or incurs, in or about or in relation to any such duties or the affairs of the corporation, the affairs of such other company which he or she so serves or the affairs of such Committee, except such claims, liabilities, costs, charges, or expenses as are occasioned by acts or omissions which were in bad faith, involved intentional misconduct, a violation of the New York Insurance Law or a knowing violation of any other law or which resulted in such person personally gaining in fact a financial profit or other advantage to which he or she was not entitled. The corporation may, by resolution of the Board of Directors, indemnify and save harmless out of the funds of the corporation to the extent permitted by applicable law, any Director, Officer, or employee of any

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subsidiary corporation of the corporation on the same basis and within the same constraints as described in the preceding sentence. No payment of indemnification shall be made unless notice has been filed with the Superintendent of Financial Services pursuant to Section 1216 of the New York Insurance Law.

Item 29. Principal Underwriter 

(a)

IDI is the principal underwriter of the Contract as defined in the Investment Company Act of 1940. IDI is also principal underwriter for the Protective Variable Annuity Separate Account, Protective Variable Life Separate Account, PLICO Variable Annuity Account S, Protective COLI VUL, Protective COLI PPVUL, Variable Annuity Separate Account A of Protective Life, PLAIC Variable Annuity Account S, and Protective NY COLI VUL. The principal underwriter, IDI, is also currently distributing units of interest in the following separate accounts, including those of the Registrant: Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company, Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York, Variable Annuity-2 Series Account of Great-West Life & Annuity Insurance Company, Variable Annuity-2 Series Account of Great-West Life & Annuity Insurance Company, Variable Annuity-3 Series Account of Great-West Life & Annuity Insurance Company, COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Company, COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Company of New York, COLI VUL-4 Series Account of Great-West Life & Annuity Insurance Company, Maxim Series Account of Great-West Life & Annuity Insurance Company, Prestige Variable Life Account of Great-West Life & Annuity Insurance Company, Pinnacle Series Account of Great-West Life & Annuity Insurance Company, Trillium Variable Annuity Account of Great-West Life & Annuity Insurance Company.

(b)

Directors and Officers of IDI:

 

Name	Principal Business Address	Positions and Offices with Underwriter
B.K. Brown	2801 Highway 280 South, Birmingham, Alabama, 35223	President and Director
B.P. Coffman	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Financial Officer
S. E. Creutzmann	2801 Highway 280 South, Birmingham, Alabama, 35223	Chief Compliance Officer and Director
L.J. Debnar	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Financial Officer
J.F. Gilmer	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Financial Officer and Director
J.G. Johnson	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Compliance Officer
F.M. Lee	2801 Highway 280 South, Birmingham, Alabama, 35223	Secretary
C.L. Majewski	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Compliance Officer
L. Morsch	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Secretary
J.B. Smith	2801 Highway 280 South, Birmingham, Alabama, 35223	Assistant Secretary
R. Tennent	2801 Highway 280 South, Birmingham, Alabama, 35223	Chief Financial Officer

 

(c) Commissions and other compensation received by Principal Underwriter, directly or indirectly, from the Registrant during Registrant’s last fiscal year:

 

Name of Principal Underwriter	Net Underwriting Discounts and Commissions	Compensation on Redemption	Brokerage Commissions	Compensation
IDI	N/A	None	N/A	N/A

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GWFS    0    0    0    0

Item 30. Location of Accounts and Records

All accounts, books, or other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940 and the rules promulgated thereunder are maintained by the Registrant through the Depositor, 8515 East Orchard Road, Greenwood Village, Colorado 80111 and at 2801 Highway 280 South, Birmingham, Alabama 35223.

Item 31. Management Services

Not Applicable.

Item 32. Undertakings and Representations 

(a)	Registrant undertakes to file a post-effective amendment to this Registration Statement as frequently as is necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted.
(b)	Registrant undertakes to include either (1) as part of any application to purchase a contract offered by the Prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a postcard or similar written communication affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information.
(c)	Registrant undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this form promptly upon written or oral request.
(d)	Great-West Life & Annuity Insurance Company of New York represents the fees and charges deducted under the Contract, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by Great-West Life & Annuity Insurance Company of New York.

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SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements of Securities Act Rule 485(b) for effectiveness of this Registration Statement and has caused this Registration Statement to be signed on its behalf, in the City of Greenwood Village, and State of Colorado, on this 10th day of May, 2021. 

VARIABLE ANNUITY-1 SERIES ACCOUNT (Registrant)
By:	/s/ Andra S. Bolotin
	Andra S. Bolotin President and Chief Executive Officer of Great-West Life & Annuity Insurance Company of New York

 

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK (Depositor)
By:	/s/ Andra S. Bolotin
	Andra S. Bolotin President and Chief Executive Officer

As required by the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated. 

Signature	Title	Date
/s/ R. Jeffrey Orr	Chairman of the Board	May 10, 2021
R. Jeffrey Orr*
/s/ Andra S. Bolotin	President and Chief Executive Officer	May 10, 2021
Andra S. Bolotin
/s/ Kara S. Roe	Principal Financial Officer, Principal Accounting Officer and Treasurer	May 10, 2021
Kara S. Roe
/s/ Marcia D. Alazraki	Director	May 10, 2021
Marcia D. Alazraki*
/s/ John L. Bernbach	Director	May 10, 2021
John L. Bernbach*
/s/ André R. Desmarais	Director	May 10, 2021
André R. Desmarais*
/s/ Paul G. Desmarais, Jr.	Director	May 10, 2021
Paul G. Desmarais, Jr.*
/s/ Stuart Z. Katz	Director	May 10, 2021
Stuart Z. Katz*
/s/ T. Timothy Ryan, Jr.	Director	May 10, 2021
T. Timothy Ryan, Jr.*
/s/ Jerome J. Selitto	Director	May 10, 2021
Jerome J. Selitto*

Signature		Title	Date
/s/ Brian E. Walsh		Director	May 10, 2021
Brian E. Walsh*
*By:	/s/ Ryan L. Logsdon	*Attorney-in-fact pursuant to Power of Attorney	May 10, 2021
	Ryan L. Logsdon