0001046292 2021-04-30 2021-04-30 0001046292 gsvit:S000044541Member 2021-04-30 2021-04-30 497 2020-12-31 0001046292 false N-1A <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">GOLDMAN SACHS VARIABLE INSURANCE TRUST </div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center">Advisor, Institutional and Service Shares of the </div> <div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">Goldman Sachs Multi-Strategy Alternatives Portfolio</div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center">(the “Fund”)</div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Supplement dated July 14, 2021 to the</div></div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Summary Prospectuses, Prospectuses and Statement of Additional Information (“SAI”), </div></div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">each dated April 30, 2021, as supplemented to date </div></div></div> <div style="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">The Board of Trustees of Goldman Sachs Variable Insurance Trust recently approved a change to the Fund’s benchmark index from the ICE Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index to the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. This change will be effective July 29, 2021 (the “Effective Date”). Accordingly, on the Effective Date, the Fund’s Prospectuses, Summary Prospectuses and SAI are revised as follows: </div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">The following sentence is added after the first sentence under the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Goldman Sachs Multi-Strategy Alternatives Portfolio—Summary—Performance</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Prospectuses and the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Performance</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Summary Prospectuses: </div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">As of July 29, 2021, the Fund’s benchmark index was changed from the ICE Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index to the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. The Adviser believes that the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index is a more appropriate index in light of the forthcoming cessation of LIBOR. </div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">The following is added under the last row in the table under the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Goldman Sachs Multi-Strategy Alternatives Portfolio—Summary—Average Annual Total Return</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Prospectuses and in the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Average Annual Total Return</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” table under the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Performance</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Summary Prospectuses: </div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: COLLAPSE; font-family: ARIAL; font-size: 8pt; width: 98%; border: 0; margin-left: auto"> <tr style="font-size: 0px;"> <td style="width:74%"/> <td style="vertical-align:bottom;width:4%"/> <td/> <td/> <td/> <td style="vertical-align:bottom;width:2%"/> <td/> <td/> <td/> <td style="vertical-align:bottom;width:2%"/> <td/> <td/> <td/></tr> <tr style="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt"> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: ARIAL; line-height: normal;">ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index<br/>(reflects no deduction for fees or expenses)<div style="font-family: &quot;Times New Roman&quot;; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:right;">0.67%</td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;white-space:nowrap;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:right;">1.20%</td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;white-space:nowrap;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:right;">0.90%</td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;white-space:nowrap;vertical-align:bottom"> </td></tr></table></div> <div style="font-size:3pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7.5pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%"> </td> <td style="width:2%;vertical-align:top;text-align:left;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">*</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 7.5pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Effective July 29, 2021, the Fund’s benchmark index was changed from the ICE Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index to the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. </div></div></div></td></tr></table> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 13pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">GOLDMAN SACHS VARIABLE INSURANCE TRUST </div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center">Advisor, Institutional and Service Shares of the </div> <div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">Goldman Sachs Multi-Strategy Alternatives Portfolio</div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center">(the “Fund”)</div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Supplement dated July 14, 2021 to the</div></div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Summary Prospectuses, Prospectuses and Statement of Additional Information (“SAI”), </div></div></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman;text-align:center"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">each dated April 30, 2021, as supplemented to date </div></div></div> <div style="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">The Board of Trustees of Goldman Sachs Variable Insurance Trust recently approved a change to the Fund’s benchmark index from the ICE Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index to the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. This change will be effective July 29, 2021 (the “Effective Date”). Accordingly, on the Effective Date, the Fund’s Prospectuses, Summary Prospectuses and SAI are revised as follows: </div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">The following sentence is added after the first sentence under the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Goldman Sachs Multi-Strategy Alternatives Portfolio—Summary—Performance</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Prospectuses and the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Performance</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Summary Prospectuses: </div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman">As of July 29, 2021, the Fund’s benchmark index was changed from the ICE Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index to the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. The Adviser believes that the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index is a more appropriate index in light of the forthcoming cessation of LIBOR. </div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">The following is added under the last row in the table under the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Goldman Sachs Multi-Strategy Alternatives Portfolio—Summary—Average Annual Total Return</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Prospectuses and in the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Average Annual Total Return</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” table under the “</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Performance</div></div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">” section in the Fund’s Summary Prospectuses: </div></div></div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: COLLAPSE; font-family: ARIAL; font-size: 8pt; width: 98%; border: 0; margin-left: auto"> <tr style="font-size: 0px;"> <td style="width:74%"/> <td style="vertical-align:bottom;width:4%"/> <td/> <td/> <td/> <td style="vertical-align:bottom;width:2%"/> <td/> <td/> <td/> <td style="vertical-align:bottom;width:2%"/> <td/> <td/> <td/></tr> <tr style="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt"> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: ARIAL; line-height: normal;">ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index<br/>(reflects no deduction for fees or expenses)<div style="font-family: &quot;Times New Roman&quot;; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:right;">0.67%</td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;white-space:nowrap;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:right;">1.20%</td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;white-space:nowrap;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:right;">0.90%</td> <td style="BORDER-TOP:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000;white-space:nowrap;vertical-align:bottom"> </td></tr></table></div> <div style="font-size:3pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7.5pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%"> </td> <td style="width:2%;vertical-align:top;text-align:left;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">*</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 7.5pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Effective July 29, 2021, the Fund’s benchmark index was changed from the ICE Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index to the ICE Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. </div></div></div></td></tr></table> GOLDMAN SACHS VARIABLE INSURANCE TRUST 2021-07-14 2021-07-14 2021-04-30