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2025-02-21
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<div style="margin-top:0pt;margin-bottom:0pt;font-size:13pt;font-family:times new roman;font-weight:bold;text-align:center;">GOLDMAN SACHS VARIABLE INSURANCE TRUST</div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">Institutional and Service Shares of the </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Buffered S&P 500 Fund—Jan/Jul </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">(each, a “Fund” and, together, the “Funds”) </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Supplement dated February 21, 2025 to the </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">Prospectuses and Statement of Additional Information (“SAI”), </span></span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">each dated April 29, 2024, as supplemented to date </span></span></div><div style="margin-top:18pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Upon the recommendation of Goldman Sachs Asset Management, L.P., the Board of Trustees of Goldman Sachs Variable Insurance Trust recently approved changes to each Fund’s principal investment strategy. Each Fund will adopt a non‑fundamental policy to invest, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the S&P 500 Price Return Index (the “Underlying Index”) and other instruments that reference and/or provide investment exposure to the Underlying Index. These changes will be effective on April 30, 2025 (the “Effective Date”). These changes will not materially impact (i) the way in which each Fund is managed, (ii) the portfolio holdings of each Fund, and (iii) each Fund’s investment objective to achieve a total return for a specified Outcome Period that tracks the Underlying Index up to a “cap” while providing a downside “buffer” against losses over a six‑month Outcome Period will not change. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Accordingly, on the Effective Date, the Funds’ Prospectuses and SAI are revised as follows: </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of</span><span style="font-weight:bold"><span style="font-style:italic"> “Goldman Sachs Buffered S&P 500 Fund—Jan/Jul —Summary—Principal Strategy”</span></span><span style="font-weight:bold"> in the Funds’ Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund seeks to achieve a total return, for a six‑month period from January 1 to June 30 or July 1 to December 31 (an “Outcome Period”), that tracks the S&P 500 Price Return Index (the “Underlying Index”) up to a “cap” while providing a downside “buffer” against losses over the Outcome Period. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the Underlying Index and other instruments that reference and/or provide investment exposure to the Underlying Index.<span style="font-weight:bold"> </span>Although the Fund seeks to implement a targeted outcome strategy, there is no guarantee that the Fund will successfully achieve its investment objective or any targeted outcome. Due to the unique mechanics of the Fund’s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. </div>
<div style="margin-top:0pt;margin-bottom:0pt;font-size:13pt;font-family:times new roman;font-weight:bold;text-align:center;">GOLDMAN SACHS VARIABLE INSURANCE TRUST</div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">Institutional and Service Shares of the </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Buffered S&P 500 Fund—Mar/Sep </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">(each, a “Fund” and, together, the “Funds”) </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Supplement dated February 21, 2025 to the </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">Prospectuses and Statement of Additional Information (“SAI”), </span></span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">each dated April 29, 2024, as supplemented to date </span></span></div><div style="margin-top:18pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Upon the recommendation of Goldman Sachs Asset Management, L.P., the Board of Trustees of Goldman Sachs Variable Insurance Trust recently approved changes to each Fund’s principal investment strategy. Each Fund will adopt a non‑fundamental policy to invest, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the S&P 500 Price Return Index (the “Underlying Index”) and other instruments that reference and/or provide investment exposure to the Underlying Index. These changes will be effective on April 30, 2025 (the “Effective Date”). These changes will not materially impact (i) the way in which each Fund is managed, (ii) the portfolio holdings of each Fund, and (iii) each Fund’s investment objective to achieve a total return for a specified Outcome Period that tracks the Underlying Index up to a “cap” while providing a downside “buffer” against losses over a six‑month Outcome Period will not change. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Accordingly, on the Effective Date, the Funds’ Prospectuses and SAI are revised as follows: </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of</span><span style="font-weight:bold"><span style="font-style:italic"> “Goldman Sachs Buffered S&P 500 Fund—Mar/Sep—Summary—Principal Strategy”</span></span><span style="font-weight:bold"> in the Funds’ Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund seeks to achieve a total return, for a six‑month period from March 1 to August 31 or September 1 to February 28 or February 29, as applicable (an “Outcome Period”), that tracks the S&P 500 Price Return Index (the “Underlying Index”) up to a “cap” while providing a downside “buffer” against losses over the Outcome Period. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the Underlying Index and other instruments that reference and/or provide investment exposure to the Underlying Index. Although the Fund seeks to implement a targeted outcome strategy, there is no guarantee that the Fund will successfully achieve its investment objective or any targeted outcome. Due to the unique mechanics of the Fund’s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. </div>
<div style="margin-top:0pt;margin-bottom:0pt;font-size:13pt;font-family:times new roman;font-weight:bold;text-align:center;">GOLDMAN SACHS VARIABLE INSURANCE TRUST</div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">Institutional and Service Shares of the </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Buffered S&P 500 Fund—May/Nov </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">(each, a “Fund” and, together, the “Funds”) </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Supplement dated February 21, 2025 to the </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">Prospectuses and Statement of Additional Information (“SAI”), </span></span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">each dated April 29, 2024, as supplemented to date </span></span></div><div style="margin-top:18pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Upon the recommendation of Goldman Sachs Asset Management, L.P., the Board of Trustees of Goldman Sachs Variable Insurance Trust recently approved changes to each Fund’s principal investment strategy. Each Fund will adopt a non‑fundamental policy to invest, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the S&P 500 Price Return Index (the “Underlying Index”) and other instruments that reference and/or provide investment exposure to the Underlying Index. These changes will be effective on April 30, 2025 (the “Effective Date”). These changes will not materially impact (i) the way in which each Fund is managed, (ii) the portfolio holdings of each Fund, and (iii) each Fund’s investment objective to achieve a total return for a specified Outcome Period that tracks the Underlying Index up to a “cap” while providing a downside “buffer” against losses over a six‑month Outcome Period will not change. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Accordingly, on the Effective Date, the Funds’ Prospectuses and SAI are revised as follows: </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of</span><span style="font-weight:bold"><span style="font-style:italic"> “Goldman Sachs Buffered S&P 500 Fund—May/Nov—Summary—Principal Strategy”</span></span><span style="font-weight:bold"> in the Funds’ Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund seeks to achieve a total return, for a six‑month period from May 1 to October 31 or November 1 to April 30 (an “Outcome Period”), that tracks the S&P 500 Price Return Index (the “Underlying Index”) up to a “cap” while providing a downside “buffer” against losses over the Outcome Period. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the Underlying Index and other instruments that reference and/or provide investment exposure to the Underlying Index. Although the Fund seeks to implement a targeted outcome strategy, there is no guarantee that the Fund will successfully achieve its investment objective or any targeted outcome. Due to the unique mechanics of the Fund’s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. </div>
<div style="margin-top:0pt;margin-bottom:0pt;font-size:13pt;font-family:times new roman;font-weight:bold;text-align:center;">GOLDMAN SACHS VARIABLE INSURANCE TRUST</div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">Institutional and Service Shares of the </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Buffered S&P 500 Fund—Jan/Jul </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Buffered S&P 500 Fund—Mar/Sep </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;font-weight:bold;text-align:center;">Goldman Sachs Buffered S&P 500 Fund—May/Nov </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;">(each, a “Fund” and, together, the “Funds”) </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic">Supplement dated February 21, 2025 to the </span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">Prospectuses and Statement of Additional Information (“SAI”), </span></span></div><div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;text-align:center;"><span style="font-style:italic"><span style="text-decoration:underline">each dated April 29, 2024, as supplemented to date </span></span></div><div style="margin-top:18pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Upon the recommendation of Goldman Sachs Asset Management, L.P., the Board of Trustees of Goldman Sachs Variable Insurance Trust recently approved changes to each Fund’s principal investment strategy. Each Fund will adopt a non‑fundamental policy to invest, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the S&P 500 Price Return Index (the “Underlying Index”) and other instruments that reference and/or provide investment exposure to the Underlying Index. These changes will be effective on April 30, 2025 (the “Effective Date”). These changes will not materially impact (i) the way in which each Fund is managed, (ii) the portfolio holdings of each Fund, and (iii) each Fund’s investment objective to achieve a total return for a specified Outcome Period that tracks the Underlying Index up to a “cap” while providing a downside “buffer” against losses over a six‑month Outcome Period will not change. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">Accordingly, on the Effective Date, the Funds’ Prospectuses and SAI are revised as follows: </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of</span><span style="font-weight:bold"><span style="font-style:italic"> “Goldman Sachs Buffered S&P 500 Fund—Jan/Jul —Summary—Principal Strategy”</span></span><span style="font-weight:bold"> in the Funds’ Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund seeks to achieve a total return, for a six‑month period from January 1 to June 30 or July 1 to December 31 (an “Outcome Period”), that tracks the S&P 500 Price Return Index (the “Underlying Index”) up to a “cap” while providing a downside “buffer” against losses over the Outcome Period. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the Underlying Index and other instruments that reference and/or provide investment exposure to the Underlying Index.<span style="font-weight:bold"> </span>Although the Fund seeks to implement a targeted outcome strategy, there is no guarantee that the Fund will successfully achieve its investment objective or any targeted outcome. Due to the unique mechanics of the Fund’s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of</span><span style="font-weight:bold"><span style="font-style:italic"> “Goldman Sachs Buffered S&P 500 Fund—Mar/Sep—Summary—Principal Strategy”</span></span><span style="font-weight:bold"> in the Funds’ Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund seeks to achieve a total return, for a six‑month period from March 1 to August 31 or September 1 to February 28 or February 29, as applicable (an “Outcome Period”), that tracks the S&P 500 Price Return Index (the “Underlying Index”) up to a “cap” while providing a downside “buffer” against losses over the Outcome Period. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the Underlying Index and other instruments that reference and/or provide investment exposure to the Underlying Index. Although the Fund seeks to implement a targeted outcome strategy, there is no guarantee that the Fund will successfully achieve its investment objective or any targeted outcome. Due to the unique mechanics of the Fund’s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. </div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;"><span style="font-weight:bold">The following replaces in its entirety the first paragraph of</span><span style="font-weight:bold"><span style="font-style:italic"> “Goldman Sachs Buffered S&P 500 Fund—May/Nov—Summary—Principal Strategy”</span></span><span style="font-weight:bold"> in the Funds’ Prospectuses: </span></div><div style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:times new roman;">The Fund seeks to achieve a total return, for a six‑month period from May 1 to October 31 or November 1 to April 30 (an “Outcome Period”), that tracks the S&P 500 Price Return Index (the “Underlying Index”) up to a “cap” while providing a downside “buffer” against losses over the Outcome Period. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities included in the Underlying Index and other instruments that reference and/or provide investment exposure to the Underlying Index. Although the Fund seeks to implement a targeted outcome strategy, there is no guarantee that the Fund will successfully achieve its investment objective or any targeted outcome. Due to the unique mechanics of the Fund’s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. </div>
GOLDMAN SACHS VARIABLE INSURANCE TRUST
2025-02-21
2024-04-29