Supplement dated May 23, 2022
to the following
Prospectus(es):
Monument Advisor, Monument Advisor
Select, Monument Advisor NY and Monument Advisor Select NY dated May 1, 2022
| This
supplement updates certain information contained in your prospectus. Please read and retain this supplement for future reference. |
| 1.
|
The following underlying
mutual fund is offered as an investment option under the contract. |
Effective on or about August 7, 2021, the name of the
investment option was updated as indicated below:
| CURRENT
NAME |
UPDATED
NAME |
| Legg
Mason Partners Variable Equity Trust - QS Legg Mason Dynamic Multi-Strategy VIT Portfolio: Class II |
Legg
Mason Partners Variable Equity Trust - Franklin Multi-Asset Dynamic Multi-Strategy VIT: Class II |
| 2.
|
At a meeting held on May 5,
2022 of the Board of Trustees (the "Board") of the Legg Mason Partners Variable Equity Trust (the "Trust"), the Board approved the liquidation (the "Liquidation") pursuant to which the Franklin Multi-Asset Dynamic Multi-Strategy VIT (the "Fund")
will be liquidated. The liquidation is expected to occur on or about August 19, 2022 (the "Liquidation Date"). |
In anticipation of the Liquidation, the following changes
apply to the contract:
| •
|
Effective on or about the
Liquidation Date, the Fund will no longer be available for transfers or new purchase payments. |
| •
|
From the date of this
supplement until the Liquidation Date, investors with allocations in the Fund may transfer allocations to any other available investment option. During this period, any transfers from the Fund will not be treated as a transfer for purposes of
transfer limitations that would otherwise be applicable. |
| •
|
On the Liquidation Date, any
remaining assets of the Fund will be transferred to the Invesco – Invesco V.I. Government Money Market Fund – Series I Shares. |
| •
|
After the
Liquidation Date, any and all references to the Fund are deleted. |