As filed with the Securities and Exchange Commission on April
25, 2025
SECURITIES AND EXCHANGE
COMMISSION
UNDER
THE SECURITIES ACT
OF 1933
| |
Pre-Effective Amendment No. |
|
| |
Post-Effective Amendment No. 7 (File No.
333-230375) |
|
UNDER
THE INVESTMENT
COMPANY ACT OF 1940
| |
Amendment No. 119 (File No. 811-07623) |
|
(Check appropriate box or boxes)
RIVERSOURCE OF NEW YORK VARIABLE ANNUITY ACCOUNT
(Exact Name of Registrant)
RiverSource Life Insurance Co. of New York
(Name of Depositor)
20 Madison Avenue Extension, Albany, NY
12203
(Address of Depositor's Principal Executive Offices) (Zip
Code)
Depositor's Telephone Number,
including Area Code (612) 678-5337
Nicole D. Wood, 50605
Ameriprise Financial Center, Minneapolis, MN 55474
(Name and Address
of Agent for Service)
It is proposed that this filing will become effective (check appropriate
box)
| |
immediately upon filing pursuant to paragraph (b) of Rule 485 |
| |
on May 1, 2025 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. |
Prospectus
RAVA 5 Advantage® Variable Annuity
(Offered for contract applications signed on or
after April 29, 2019)
Individual Flexible Premium Deferred Combination Fixed/Variable Annuity
| |
RiverSource Life Insurance Co. of New York
(RiverSource Life of
NY) 20 Madison Avenue Extension
Albany, NY 12203 Telephone: 1-800-541-2251 |
| |
ameriprise.com/variableannuities RiverSource of New York Variable Annuity Account |
| |
RiverSource Life Insurance Co. of New York (RiverSource Life of NY) |
| |
70500 Ameriprise Financial Center Minneapolis, MN 55474 Telephone: 1-800-541-2251 ameriprise.com/variableannuities |
This prospectus contains information that you should know before investing in the RAVA 5 Advantage contract offered for contract applications signed on or after April 29, 2019 (Contract), individual flexible premium deferred combination fixed/variable annuity contracts issued by RiverSource Life Insurance Co. of New York (“RVS Life of NY”, “we”, “us” and
“our”). The Contract offers seven-year and ten-year surrender charge schedules. The information in this prospectus applies to all contracts unless stated otherwise. All material terms and conditions
of the contracts, including distribution channels, are described in this prospectus.
The contracts are no longer available for new purchases. These contracts are no longer being sold and this prospectus is designed for current contract owners. In
addition, you should note that your contract features and charges may vary depending on the date
on which you purchased your contract.
For more information about the particular features, charges and options applicable to you, please contact your financial professional or refer to your contract for contract variation information.
Additional information about certain investment products, including
variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is
available at Investor.gov.
The Securities and Exchange Commission has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 1
2 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 3
These terms can help you understand details about your Contract.
Accumulation unit: A measure of the value of each
subaccount prior to the application of amounts to an annuity payment plan.
Annuitant: The person or persons on whose life or life expectancy the annuity payouts are based.
Annuitization start date: The date when annuity payments
begin according to the applicable annuity payment plan.
Annuity
payouts: An amount paid at regular intervals under one of several plans.
Assumed investment return: The rate of return we assume
your investments will earn when we calculate your initial annuity payout amount using the annuity table in
your Contract. The standard assumed investment return we use is 5% but you may request we substitute an
assumed investment return of 3.5%.
Beneficiary: The person you designate to receive benefits in case of your death while the Contract is in force.
Close of
business: The time the New York Stock Exchange (NYSE) closes (4 p.m. Eastern time unless the NYSE closes earlier).
Code: The Internal Revenue Code of 1986, as amended.
Contingent annuitant: The person who becomes the
annuitant when the current annuitant dies prior to the annuitization start date. In the case of joint
ownership, one owner must also be the contingent annuitant.
Contract: A deferred annuity contract that permits you to accumulate money for retirement by making one or more purchase payments. It provides for lifetime or other forms of payouts beginning at a specified time in the future.
Contract value: The total value of your contract at any point in time. The contract value is the sum of the contract value in the Regular Fixed Account, contract value in the Special DCA Fixed Account and contract value in the Variable Account.
Contract year: A period of 12 months, starting on the effective date of your Contract and on each anniversary of the effective date.
Fixed account: Part of our general account which includes the regular fixed account and the Special DCA fixed account. Amounts you allocate to this account earn interest at rates that we declare periodically.
Funds: A portfolio of an open-end management investment company that is registered with the Securities and Exchange Commission (the "SEC") in which the Subaccounts invest. May also be referred to as an underlying Fund.
Good order: We cannot process your transaction request relating to the Contract until we have received the request in good order at our Service Center. “Good order” means the actual receipt of the requested transaction in writing, along with all information, forms and supporting legal documentation necessary to effect the transaction. To be in “good order”, your instructions must be sufficiently clear so that we do not need
to exercise any discretion to follow such instructions. This information and documentation generally
includes your completed request; the Contract number; the transaction amount (in dollars); the names of and
allocations to and/or from the subaccounts and the fixed account affected by the requested transaction;
Social Security Number or Taxpayer Identification Number; and any other information, forms or supporting
documentation that we may require. For certain transactions, at our option, we may require the signature of
all Contract owners for the request to be in good order. With respect to purchase requests, “good
order” also generally includes receipt of sufficient payment by us to effect the purchase. We may, in
our sole discretion, determine whether any particular transaction request is in good order, and we reserve the right to change or waive any good order requirements at any time.
Owner (you, your): The person or persons identified in the contract as owner(s) of the contract, who has or have the right to control the contract (to decide on investment
allocations, transfers, payout options, etc.). Usually, but not always, the owner is also the annuitant.
During the owner’s life, the owner is responsible for taxes, regardless of whether he or she receives
the contract’s benefits. The owner or any joint owner may be a nonnatural person (e.g. irrevocable
trust or corporation) or a revocable trust. If any owner is a nonnatural person or revocable trust, the
annuitant will be deemed to be the owner for contract provisions that are based on the age or life of the
owner. Any contract provisions that are based on the age of the owner will be based on the age of the
oldest owner. When the contract is owned by a revocable trust or irrevocable grantor trust, the
annuitant(s) selected must be the grantor(s) of the trust to assure compliance with Section 72(s) of the
Code. Any ownership change, including continuation of the contract by your spouse under the spousal
continuation provision of the contract, redefines “owner”, “you” and “your”.
Qualified annuity: A contract that you purchase to fund one of the following tax-deferred retirement plans that is subject to applicable federal law and any rules of the
plan itself:
•
Individual Retirement Annuities (IRAs) including inherited IRAs under Section 408(b) of the Internal Revenue Code of 1986 (the Code)
•
Roth IRAs including inherited Roth IRAs under Section 408A of the Code
•
SIMPLE IRAs under Section 408(p) of the Code
•
Simplified
Employee Pension IRA (SEP) plans under Section 408(k) of the Code
4 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
•
Custodial and
investment only accounts maintained for qualified retirement plans under Section 401(a) of the Code
•
Tax-Sheltered Annuities (TSAs) under section 403(b) of the Code
A qualified annuity will not provide any necessary or additional tax deferral because
it is used to fund a retirement plan that is already tax-deferred.
All other contracts are considered nonqualified annuities.
Rider: You receive a rider to your contract when you purchase optional benefits. The rider adds the terms of the optional benefit to your Contract.
Rider effective date: The date a rider becomes effective as stated in the rider.
RiverSource Life of NY: In this prospectus, “we,” “us,” “our” and “RiverSource Life of NY” refer to RiverSource Life Insurance Co. of New
York.
Separate
Account: An insulated segregated account, the assets of which are invested solely in an underlying Fund. We call this the Variable Account.
Service Center: Our department that processes all transaction and service requests for the Contracts. We consider all transaction and service requests received when they arrive in good order at the Service Center. Any transaction or service requests sent or directed to any
location other than our Service Center may end up delayed or not processed. Our Service Center address
and telephone number are listed on the first page of the prospectus.
Surrender value: The amount you are entitled to receive if you make a full surrender from your Contract. It is the Contract value immediately prior to the surrender, minus
any applicable charges.
Valuation
date: Any normal business day, Monday through Friday, on which the NYSE is open, up to the time it closes. At the NYSE close, the next valuation date begins. We calculate the accumulation unit value of each subaccount on each valuation date. If your contract anniversary is not a valuation date, your contract value for that contract anniversary will be based on close of business values on the next valuation date.
If we receive your purchase payment or any transaction request (such as a transfer or surrender request) in good order at our Service Center before the close of business,
we will process your payment or transaction using the accumulation unit value we calculate on the valuation
date we received your payment or transaction request. On the other hand, if we receive your purchase
payment or transaction request in good order at our Service Center at or after the close of business, we
will process your payment or transaction using the accumulation unit value we calculate on the next
valuation date. If you make a transaction request by telephone (including by fax), you must have completed
your transaction by the close of business in order for us to process it using the accumulation unit value
we calculate on that valuation date. If you were not able to complete your transaction before the close of
business for any reason, including telephone service interruptions or delays due to high call volume, we
will process your transaction using the accumulation unit value we calculate on the next valuation
date.
Variable account:
Refers to the RiverSource of New York Variable Annuity Account,
a Separate account established to hold Contract owners’ assets allocated to the Subaccounts, each of
which invests in a particular Fund.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 5
Important Information You Should Consider
About the Contract
| |
|
Location in
Statutory
Prospectus |
Charges for Early
Withdrawals |
This contract has two surrender charge options. You may select either a
seven-year or ten-year surrender charge schedule at the time of
application. If you select a seven-year surrender charge schedule and you
withdraw money during the first seven years from date of each
purchase payment, you may be assessed a surrender charge of up to
7% of the purchase payment withdrawn. If you select a ten-year
surrender charge schedule and you withdraw money during the first
ten years from date of each purchase payment, you may be assessed
a surrender charge of up to 8% of the purchase payment
withdrawn. For example, if you select a seven-year surrender
charge schedule and make an early withdrawal, you could pay a
surrender charge of up to $7,000 on a $100,000 investment. If you
select a ten-year surrender charge schedule and make an early
withdrawal, you could pay a surrender charge of up to $8,000 on a
$100,000 investment. |
Fee Table and
Examples
Charges–
Surrender Charge |
| |
We do not assess any transaction charges. |
|
6 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
| |
|
Location in
Statutory
Prospectus |
Ongoing Fees and
Expenses (annual
charges) |
The table below describes the current fees and expenses that you may pay
each year, depending on the options you choose. Please refer to
your Contract Data page for information about the specific fees you will pay each year based on the options you have elected. |
Fee Table and
Examples
Expenses –
Product Charges
Appendix A: Funds
Available Under
the Contract |
| |
|
|
(varies by surrender charge option
chosen,Contract duration and size of
Contract value) |
|
|
Fund options
(Funds fees and expenses)(2) |
|
|
Optional benefits available for an
additional charge
(for a single optional benefit, if
|
|
|
(1) As a percentage of average daily contract value in the Variable Account. Includes the
Mortality and Expense Fee and contract administrative charge. 2) As a percentage of Fund net assets. (3) As a percentage of Contract Value or the greater of Contract Value or applicable guaranteed benefit amount (varies by optional benefit). The Minimum is a percentage of
average daily Contract value in the Variable Account. The Maximum is a percentage of the
greater of Contract value or Minimum Contract Accumulation Value.
Because your Contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your Contract,
the following table shows the lowest and highest cost you could pay each
year, based on current charges. This estimate assumes that you do
not take withdrawals from the Contract, which could add surrender charges that substantially increase costs. |
Lowest Annual Cost:
$1,343
|
Highest Annual Cost:
$3,868
|
Assumes:
•Investment of $100,000 •5% annual appreciation
•Least expensive combination of Contract features and Fund fees
and expenses
•No optional benefits •No sales charge
•No additional purchase payments, transfers or withdrawals |
Assumes:
•Investment of $100,000 •5% annual appreciation
•Most expensive combination of Contract features, optional
benefits and Fund fees and
expenses
•No sales charge •No additional purchase payments,
transfers or withdrawals |
| |
|
|
| |
You can lose money by investing in this Contract including loss of principal. |
|
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 7
| |
|
Location in
Statutory
Prospectus |
Not a Short-Term
Investment |
•The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. •The Contract has surrender charges that may apply for the first seven or
ten years after each purchase payment. The surrender charges may
reduce the value of your Contract if you withdraw money during the
surrender charge period. Surrenders may also reduce or terminate
Contract guarantees. •The benefits of tax deferral, long-term income, and optional living benefit
guarantees mean the Contract is generally more beneficial to investors
with a long term investment horizon. |
Principal Risks
Charges–
Surrender Charge |
Risks Associated
with Investment
Options |
•An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Contract. •Each investment option (including under any Fixed Account investment
options) has its own unique risks.
•You should review the investment options before making any investment decisions. |
Principal Risks
The Variable Account and the
Funds
The Fixed Account |
| |
An investment in the Contract is subject to the risks related to us. Any
obligations (including under the Fixed Account) or guarantees and benefits
of the Contract that exceed the assets of the Separate Account are subject
to our claims-paying ability. If we experience financial distress, we may not
be able to meet our obligations to you. More information about
RiverSource Life, including our financial strength ratings, is
available by contacting us at 1-800-862-7919. |
Principal Risks
The General
Account |
| |
|
|
| |
•Subject to certain restrictions, you may transfer your Contract value among the Subaccounts without charge at any time before the annuitization start date, and once per Contract year after the
annuitization start date. •We reserve the right to modify, restrict or suspend your transfer
privileges if we determine that your transfer activity
constitutes market timing.
•We reserve the right to add, remove or substitute Funds as investment options. We also reserve the right, upon notification to you, to close or
restrict any Funds. |
Making the Most
of Your Contract –
Transferring
Among Accounts
Substitution of
Investments
Optional
Benefits —
Investment
Allocation
Restrictions for
Certain Benefit
Riders |
8 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
| |
|
Location in
Statutory
Prospectus |
| |
•Certain optional benefits limit or restrict the investment options you may
select under the Contract. If you later decide you do not want to invest in
those approved investment options, you must request a full
surrender. •Certain optional benefits may limit subsequent purchase payments. •Withdrawals in excess of the amount allowed under certain optional
benefits may substantially reduce the benefit or even terminate
the benefit.
•We may stop offering an optional benefit at any time for new sales. |
Buying Your
Contract —Purchase Payments Optional Benefits — Investment Allocation Restrictions for Certain Benefit Riders
Optional
Benefits –
Important
SecureSource
Series Rider
Considerations
Appendix B: Funds
Available Under
the Optional
Benefits Offered
Under the
Contract |
| |
|
|
| |
•Consult with a tax advisor to determine the tax implications of an investment in and payments and withdrawals received under this Contract.
•If you purchase the Contract through a tax-qualified plan or individual retirement account, you do not get any additional tax benefit. •Earnings under your Contract are taxed at ordinary income tax rates
generally when withdrawn. You may have to pay a tax penalty if you take
a withdrawal before age 59½. |
|
| |
|
|
Investment
Professional
Compensation |
Your investment professional may receive compensation for selling this
Contract to you, in the form of commissions, additional cash benefits (e.g., bonuses), and non-cash compensation. This financial incentive may influence your investment professional to recommend this Contract over another investment for which the investment professional is not compensated or compensated less. |
About the Service
Providers |
| |
If you already own an annuity or insurance Contract, some investment
professionals may have a financial incentive to offer you a new Contract in
place of the one you own. You should only exchange a Contract you already
own if you determine, after comparing the features, fees, and risks of both
Contracts, that it is better for you to purchase the new Contract rather than continue to own your existing Contract. |
Buying Your
Contract – Contract
Exchanges |
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 9
Overview of the Contract
Purpose: The purpose of the contract is to allow you to accumulate money for retirement or a similar
long-term goal. You do this by making one or more purchase payments.
We no longer offer new contracts. However, you may have the option of making
additional purchase payments in the future, subject to certain limitations.
The contract offers various optional features and benefits that
may help you achieve financial goals.
It may be appropriate for you if you have a long-term investment horizon and your financial goals are consistent with the terms and conditions of the contract.
It is not intended for investors whose liquidity needs require frequent withdrawals
in excess of free amount. If you plan to manage your investment in the contract by frequent or short-term trading, the contract is not suitable for you.
The contract has two phases: the Accumulation Phase and the Income Phase.
Accumulation Phase. During the Accumulation Phase, you make purchase payments by investing in:
available Subaccounts, each of which has a particular investment objective, investment strategies, fees and
expenses; the regular Fixed
Accountand Special DCA Fixed Account
which earn interest at rates that we adjust periodically and declare when you make an allocation to that account. These accounts, in turn, may earn returns that increase the
value of the contract. If the contract value goes to zero due to underlying fund’s performance or deduction of fees, the contract (including any death benefit
riders) will no longer be in force and the contract will terminate. You may be able to purchase an optional benefit to reduce the investment risk you assume under your
contract.
A list of Funds and additional information regarding each Fund in which you can invest is provided in Appendix A – Funds Available Under the Contract.
If you have a Guaranteed Withdrawal Benefit rider, you can withdraw a guaranteed
amount from the contract during the Accumulation phase. The amount of money you accumulate under your contract depends (in part) on the performance of the Subaccounts you choose or the rates you earn
on allocations to the regular Fixed Accountand Special DCA Fixed Account. You may transfer money between investment options during the Accumulation Phase, subject to certain restrictions. Your
contract value impacts the value of your contract’s benefits during the Accumulation Phase, including
any optional benefits, as well as the amount available for withdrawal, annuititzation and death benefits.
Income Phase. The Income Phase begins when you (or your beneficiary) choose to annuitize the contract. You can apply your contract value(less any applicable charges) to an annuity payout plan that begins on the annuitization start date or any other date you elect. You may choose from a variety of plans that can help meet your retirement or other income
needs. We can make payouts on a fixed or variable basis, or both. You cannot take withdrawals of contract
value or surrender the contract during the Income Phase.
All optional death and living benefits terminate after the annuitization start date unless you chose the lifetime benefit under the Guaranteed Withdrawal Benefit rider on the scheduled annuitization start date.
Death Benefits. If you die during the Accumulation Phase, we will pay a death benefit to your beneficiary or beneficiaries. The contract
includes a standard death benefit at no additional charge. You may be able to elect (or may have elected) one of the optional death benefits under the contract for an additional
fee. Death benefits must be elected at the time that the contract is purchased. Each optional death benefit is designed to provide a greater amount payable upon death. After the death benefit is paid, the contract will terminate.
Optional Living Benefits. You may have elected one of the optional living benefits under the contract for an additional fee. Guaranteed Withdrawal
Benefit riders are designed to provide a guaranteed income stream that may last as long as you live, subject to you following the rules of the rider. Accumulation Protector
Benefit rider is designed to provide a guaranteed contract value at the end of a specified Waiting Period.
Surrenders. You may surrender all or part of your contract
value at any time during the Accumulation Phase. If you request a full surrender, the contract will
terminate. You also may establish automated partial surrenders. Surrenders may be subject to charges and income taxes (including an IRS penalty that may apply if you surrender
prior to reaching age 59½) and may have other tax consequences. Throughout this prospectus when we use the term “Surrender” it includes the term “Withdrawal”.
Tax Treatment. You can transfer money between Subaccounts
and the regular Fixed Account
without tax implications, and earnings (if any) on your investments are generally tax-deferred. Generally, earnings are not taxed until they are distributed, which may occur when making a withdrawal, upon receiving an annuity payment, or upon payment of the death
benefit.
10 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Additional
Services:
•
Dollar Cost Averaging Programs. Automated Dollar Cost Averaging allows you, at no additional cost, to
transfer a set amount monthly between Subaccounts or from the regular Fixed Account to one or
more eligible Subaccounts.
Special Dollar Cost Averaging (SDCA), only available for new purchase payments, allows the systematic transfer from the Special DCA Fixed Account to one or more
eligible Subaccounts over a 6 or 12 month period.
•
Asset Rebalancing. Allows you, at no additional cost, to automatically rebalance the Subaccount portion of your contract value on a periodic basis.
•
Income Guide. An optional service, currently offered without charge, which provides reporting and monitoring of withdrawals you take
from your contract.
•
Automated Partial Surrenders. An optional service allowing you to set up automated partial surrenders from the regular Fixed Account, Special DCA fixed account or the Subaccounts.
•
Electronic Delivery. You may register for the electronic delivery of your current prospectus and other
documents related to your contract.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 11
Fee Table and Examples
The following tables describe the fees and expenses that you will pay when buying, owning, surrendering, or making withdrawals from
the Contract. Please refer to your Contract Data page for information
about the specific fees you will pay each year based on the options you have elected.
The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from the Contract.
Surrender charges (as a percentage of purchase payments
surrendered)(1) |
|
|
| |
|
|
(1)
You select either a seven-year or ten-year surrender charge schedule at the time of
application. For the purpose of surrender charge calculation, we consider that the year is completed one day prior to the anniversary of the day each purchase payment was
received.
| |
|
Number of completed years from date of each purchase payment |
Surrender charge percentage applied to each purchase payment |
Number of completed years from date of each purchase payment |
Surrender charge percentage applied to each purchase payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
The next table describes the fees and expenses that you will pay
each year during the time that you own the contract (not including Funds fees and expenses). If you choose to purchase an optional benefit, you will pay
additional charges, as shown below.
Administrative Expenses
(assessed annually and upon full
surrender)
Annual contract administrative charge* |
|
|
Annual contract administrative charge if your contract value equals or exceeds
$50,000 |
|
|
* Upon full surrender of the contract, we will assess this charge even if your contract value equals or exceeds $50,000.
Base Contract Expenses*
(as a percentage of average daily contract value
in the Variable Account)
| |
|
RAVA 5 Advantage with ten-year surrender charge
schedule |
|
RAVA 5 Advantage with seven-year surrender charge schedule** |
|
* Base Contract Expenses are called Mortality and Expense Risk Fee in the Contract and elsewhere in this prospectus.
** After the 10th contract anniversary, the Mortality and expense risk fee is 0.95%.
Optional Benefit Expenses
You may select one of the following optional death benefit riders for an additional
fee.
12 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
(as a percentage of average
daily contract value in the Variable
Account)
If you choose one of the above optional death benefits, we will add the
rider fee to your mortality and expense risk fee.
SecureSource LegacySM benefit
rider fee (available for contract applications signed
on or after 5/4/2020) |
|
|
SecureSource LegacySM benefit
rider fee (available for contract applications signed
prior to 5/4/2020) |
|
|
(Charged annually on the contract anniversary. The
charge is calculated by multiplying the annual rider fee by the greater of the SecureSource Legacy Death Benefit amount or the contract value)
Optional Living Benefits(3)
Available for contract applications signed on or after
5/3/2021 |
|
SecureSource Tempo
NY SM– Single life rider fee
|
|
SecureSource
Tempo NYSM
– Joint life rider fee |
|
Available for contract applications signed on or after 5/3/2021 and
prior to 1/1/2022 |
|
SecureSource Core 2
NYSM
– Single life rider fee |
|
SecureSource Core 2
NY SM
– Joint life rider fee |
|
SecureSource5NY®– Single
life rider fee |
|
SecureSource5NY ® – Joint
life rider fee |
|
SecureSource5Plus NY ® – Single
life rider fee |
|
SecureSource5Plus NY ® – Joint
life rider fee |
|
Available for contract applications signed prior to
5/3/2021 |
|
SecureSource Core NY
SM –
Single life rider fee |
|
SecureSource Core
NY SM
– Joint life rider fee |
|
SecureSource 4 NY®– Single life rider
fee |
|
SecureSource 4 NY® – Joint
life rider fee |
|
SecureSource4Plus NY®
– Single life rider fee |
|
SecureSource4Plus NY ® – Joint
life rider fee |
|
Available for contract applications signed prior to
3/30/2020 |
|
SecureSource
Core Plus
NY SM
– Single life rider fee |
|
SecureSource
Core Plus
NY SM
– Joint life rider fee |
|
(Charged annually on the contract anniversary as a percentage of contract value or the Benefit Base, whichever is greater.)
Accumulation Protector Benefit® (APB®) rider
fee (available for contract applications signed prior to
3/30/2020) |
|
|
(Charged annually on the contract anniversary as a percentage of contract value or the
Minimum Contract Accumulation Value, whichever is greater.)
(1)
For contract applications signed prior to 5/4/2020, the contract administrative charge is
$30 through the later of the first contract anniversary and 7/30/2020. Thereafter the contract
administrative charge is $50.
(2)
The Current fee can increase up to the Maximum fee for existing and new contract owners. Currently the fee does not vary with the investment option selected (see “SecureSource Legacy Benefit Rider Charge”).
(3)
The Current rider fee will be less than or equal to the stated Maximum. The Current rider
fee for the SecureSource series riders is disclosed in a Rate Sheet Prospectus Supplement attached to this prospectus. (see Appendix G: Prospectus Rate Sheet supplements for rates applicable to your contract). Rate Sheet Prospectus Supplement is
available on the Edgar system at (File 333 -229361).www.sec.gov
(4)
For contract applications signed prior to 10/26/2019, the current annual rider fee is 1.15%.
The annual rider fees for elective step up (including elective spousal continuation step up) requests are stated below;
Elective step up date
(Applications signed on/after 10/28/2019) |
|
|
|
| |
|
|
|
| |
|
|
|
Elective step up date
(Applications signed prior to 10/28/2019) |
|
|
| |
|
|
| |
|
|
The next table shows the minimum and maximum total operating expenses
charged by the Funds that you may pay periodically during the time that you own the contract. A complete list of Funds available under the contract, including their annual expenses, may be found in Appendix A.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 13
Total Annual Fund Expenses |
|
|
(expenses deducted from the Fund assets, including management fees, distribution and/or service
(12b-1) fees and other expenses) |
|
|
(1)
Total annual Fund operating expenses are deducted from amounts that are allocated to the
Fund. They include management fees and other expenses and may include distribution (12b-1) fees. Other expenses may include service fees that may be used to compensate service
providers, including us and our affiliates, for administrative and contractowner services provided on behalf of the Fund. The amount of these payments will vary by Fund and may be significant. See “The Variable Account and the Funds” for additional information,
including potential conflicts of interest these payments may create. Distribution (12b-1) fees are used to finance any activity that is primarily intended to result in the sale
of Fund shares. Because 12b-1 fees are paid out of Fund assets on an ongoing basis, you may pay more if you select Subaccounts investing in Funds that have adopted 12b-1 plans than if you select
Subaccounts investing in
Funds that have not adopted 12b-1 plans. For a more complete description of each Fund’s fees and expenses and important disclosure regarding payments the Fund and/or its affiliates make, please review the Fund’s prospectus and SAI.
These examples are intended to help you compare the
cost of investing in the contract. These costs include Transaction Expenses, Annual ContractExpenses, and Annual Fund expenses.
These examples assume that you invest $100,000 in the contract for the time periods indicated. These examples also assume that your investment has a 5% return each year. The “Maximum” example further assumes the most expensive combination of Annual Contract Expenses reflecting the maximum charges, Annual Fund Expenses * and optional benefits available. The “Minimum” example further assumes
the least expensive combination of Annual Contract Expenses reflecting
the current charges, Annual Fund Expenses and that no optional benefits are selected. Although your actual costs may be higher or lower, based on these
assumptions your maximum and minimum costs would be:
Maximum Expenses. These examples assume that you select optional
SecureSource Legacy benefit rider and SecureSource Core Plus NY rider. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
* Note: Certain funds are not
available for contracts with living benefit riders and may have higher fund expenses than the rider fee and associated fund expenses shown here.
| |
If you surrender your contract at the end of the applicable time period: |
If you do not surrender your contract or if you select an annuity payout plan at the end of the applicable time period: |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
With a ten-year surrender charge schedule |
|
|
|
|
|
|
|
|
With a seven-year surrender charge
schedule |
|
|
|
|
|
|
|
|
Minimum Expenses. These examples assume that you have the Standard Death Benefit and do not select any optional benefits. Although your actual costs may be higher, based on these assumptions your costs would be:
| |
If you surrender your contract at the end of the applicable time period: |
If you do not surrender your contract or if you select an annuity payout plan at the end of the applicable time period: |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
With a ten-year surrender charge schedule |
|
|
|
|
|
|
|
|
With a seven-year surrender charge schedule |
|
|
|
|
|
|
|
|
THE EXAMPLES ARE ILLUSTRATIVE ONLY. YOU SHOULD NOT CONSIDER THESE EXAMPLES AS A
REPRESENTATION OF PAST OR FUTURE EXPENSES. ACTUAL EXPENSES WILL BE HIGHER OR LOWER THAN THOSE SHOWN DEPENDING UPON WHICH OPTIONAL BENEFIT YOU ELECT OTHER THAN INDICATED IN THE EXAMPLES OR IF YOU ALLOCATE CONTRACT VALUE TO ANY OTHER AVAILABLE SUBACCOUNTS.
14 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Principal Risks of Investing in the Contract
Risk of Loss. Variable annuities involve risks, including possible loss of principal. Your losses could
be significant. This contract is not a deposit or obligation of, or guaranteed or endorsed by, any bank. This contract is not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency.
Short-Term Investment Risk. This contract is not designed for short-term investing and may not be appropriate for an investor who needs ready access
to cash. The benefits of tax deferral , long-term income, and the option to purchase a living
benefit mean that this contract is more beneficial to investors with a long-term investment horizon.
Withdrawal Risk. You should carefully consider the risks associated with withdrawals under the
contract. Withdrawals may be subject to a significant surrender charge, depending on the option you
select. If you make a withdrawal prior to age 59½, there may be adverse tax consequences,
including a 10% IRS penalty tax. A withdrawal may reduce the value of your standard and optional benefits. A total withdrawal (surrender) will result in the termination of your
contract.
Subaccount Risk. Amounts that you invest in the subaccounts are subject to the risk of poor investment
performance. You assume the investment risk. Generally, if the subaccounts that you select make money, your contract value goes up, and if they lose money, your contract value goes down. Each subaccount’s performance depends on the performance of
its underlying Fund. Each underlying Fund has its own investment risks, and you are exposed to the Fund’s investment risks when you invest in a subaccount. You are responsible for selecting subaccounts that are appropriate for you based on your own individual circumstances,
investment goals, financial situation, and risk tolerance. For risks associated with any Fixed Account
options, see Financial Strength and Claims-Paying Ability Risk below.
Selection Risk. The optional benefits under the contract were designed for different financial goals and to protect against different
financial risks. There is a risk that you may not choose, or may not have chosen, the benefit or benefits (if any) that are best suited for you based on your present or future
needs and circumstances, and the benefits that are more suited for you (if any) may not be elected after your contract is issued. In addition, if you elected an optional benefit and do not use it and if
the contingencies upon which the benefit depend never occur, you will have paid for an optional benefit that did not provide a financial benefit. There is also a risk that any
financial return of an optional benefit, if any, will ultimately be less than the amount you paid for the benefit.
Investment Restrictions Risk. Certain optional benefits limit the investment options that are available
to you and limit your ability to take certain actions under the contract. These investment requirements are designed to reduce our risk that we will have to make payments to you from our own assets. In turn, they may also limit the potential growth of your
contract value and the potential growth of your guaranteed benefits. This may conflict with your personal investment objectives.
Managed Volatility Fund Risk. The Portfolio Stabilizer funds are managed volatility funds that employ a strategy designed to reduce overall volatility
and downside risk. These risk management techniques help us manage our financial risks associated with the contract’s guarantees, like living and death benefits, because they reduce the incidence of extreme outcomes including the probability of large gains or losses. However, these strategies can also limit your
participation in rising equity markets, which may limit the potential growth of your contract value and the potential growth of your guaranteed benefits and may therefore conflict with your personal investment objectives. Certain Funds
advised by our affiliate, Columbia Management, employ such risk management strategies. If you elect certain optional benefits under the contract, we require you to invest in these funds, which may limit your ability to increase your benefit. Costs associated with running a managed volatility strategy may also adversely impact the performance of managed
volatility funds.
Purchase Payment Risk. Your ability to make subsequent purchase payments is subject to restrictions. We reserve the right to limit or restrict
purchase payments in certain contract years or based on age, and in conjunction with certain optional
living and death benefit riders with advance notice. Also, our prior approval may be required before
accepting certain purchase payments. We reserve the right to limit certain annuity features (for example, investment options) if prior approval is required. There is no guarantee that you will always be permitted to make purchase payments.
Financial Strength and Claims-Paying Ability Risk. All guarantees under the contract that are paid from
our general account (including under any Fixed Account option) are subject to our financial strength and claims-paying ability. If we experience financial distress, we may not be
able to meet our obligations to you.
Cybersecurity Risk. Increasingly, businesses are dependent on the
continuity, security, and effective operation of various technology systems. The nature of our business depends on the continued effective operation of our systems and those of our business partners.
This dependence makes us susceptible to operational and information security risks
from cyber-attacks. These risks may include the following:
•
the corruption or destruction of data;
•
theft, misuse or dissemination of data to the public, including your information we hold; and
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 15
•
denial of
service attacks on our website or other forms of attacks on our systems and the software and hardware we use to run them.
These attacks and their consequences can negatively impact your contract, your privacy, your ability to conduct transactions on your contract, or your ability to receive timely service from us. The risk of cyberattacks may be higher
during periods of geopolitical turmoil. There can be no assurance that we, the underlying funds in your contract, or our other business partners will avoid losses affecting your contract due to any successful cyber-attacks or information
security breaches.
Potential Adverse Tax Consequences. Tax considerations vary by individual facts and circumstances. Tax rules may change without notice. Generally, earnings
under your contract are taxed at ordinary income tax rates when withdrawn. You may have to pay a tax penalty if you take a withdrawal before age 59 ½. If you purchase a
qualified annuity to fund a retirement plan that is tax-deferred, your contract will not provide any necessary or additional tax deferral beyond what is provided in that retirement plan. Consult a tax professional.
The Variable Account and the Funds
The variable account: The Variable Account was established under New York law on April 17, 1996.The Variable
Account, consisting of subaccounts, is registered together as a single unit investment trust under the Investment Company Act of 1940 (the 1940 Act). This registration does not involve any supervision of our management or investment
practices and policies by the SEC. All obligations arising under the contracts are general obligations of RiverSource Life of NY.
The Variable Account meets the definition of a separate account under federal securities laws. Income, gains, and losses credited to or charged against the Variable Account reflect the Variable Account’s own investment experience and not the investment experience of RiverSource Life of NY’s other assets. The Variable Account’s assets are held separately from RiverSource Life of NY’s assets and are not chargeable with liabilities incurred in any other business of RiverSource Life of
NY. RiverSource Life of
NY is obligated to pay all amounts promised to contract owners under the contracts. The
Variable Account includes other subaccounts that are available under contracts that are not described in this prospectus.
The IRS has issued guidance on investor control but may issue additional guidance in the future. We reserve the right to
modify the contract or any investments made under the terms of the contract so that the investor control rules do not apply to treat the contract owner as the owner of the subaccount assets rather than the owner of an annuity contract. If
the contract is not treated as an annuity contract for tax purposes, the owner may be subject to current taxation on any current or accumulated income credited to the contract.
We intend to comply with all federal tax laws so that the contract qualifies as an
annuity for federal tax purposes. We reserve the right to modify the contract as necessary in order to qualify the contract as an annuity for federal tax purposes.
The Funds: The contract currently offers Subaccounts investing in shares of the Funds. Information regarding each Fund, including (i) its name, (ii) its investment objective, (iii) its investment adviser and any sub-investment adviser,
(iv) current expenses, and (v) performance may be found in Appendix A to this prospectus.
Please read the Funds’ prospectuses carefully for facts you should know before investing. These prospectuses
containing more detailed information about the Funds are available by contacting us at 70100 Ameriprise Financial Center, Minneapolis, MN 55474, telephone: 1-800-862-7919, website: Ameriprise.com/variableannuities.
•
Investment objectives: The investment managers and advisers cannot guarantee that the Funds will meet their investment objectives.
•
Fund name and management: An underlying Fund in which a Subaccount invests may have a name, portfolio
manager, objectives, strategies and characteristics that are the same or substantially similar to those of a
publicly-traded retail mutual fund. Despite these similarities, an underlying fund is not the same as any publicly-traded retail mutual fund. Each underlying fund will have its own unique portfolio holdings, fees, operating expenses and
operating results. The results of each underlying fund may differ significantly from any publicly-traded retail mutual fund.
•
Eligible purchasers: All Funds are available to serve as underlying funds for variable annuities and variable life insurance policies. The
Funds are not available to the public (see “Fund name and management” above). Some Funds also are available to serve as investment options for tax-deferred retirement
plans. It is possible that in the future for tax, regulatory or other reasons, it may be disadvantageous for variable annuity accounts and variable life insurance accounts and/or tax-deferred retirement plans to invest in the available funds simultaneously. Although we and
the Funds’ providers do not currently foresee any such disadvantages, the boards of directors or trustees of each Fund will monitor events in order to identify any material
conflicts between annuity owners, policy owners and tax-deferred retirement plans and to determine what action, if any, should be taken in response to a conflict. If a board were to conclude that it should establish separate Fund providers for the variable annuity, variable life
16 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
insurance
and tax-deferred retirement plan accounts, you would not bear any expenses associated with establishing separate Funds. Please refer to the Funds’ prospectuses for risk
disclosure regarding simultaneous investments by variable annuity, variable life insurance and tax-deferred retirement plan accounts. Each Fund intends to comply with the diversification requirements under Section 817(h) of the Code.
•
Asset allocation programs may impact Fund performance: Asset allocation programs in general may negatively impact the performance of an underlying fund. Even if you do not
participate in an asset allocation program, a Fund in which your Subaccount invests may be impacted if it is included in an asset allocation program. Rebalancing or reallocation under the terms of the asset allocation program may cause a Fund to lose money if it must sell large
amounts of securities to meet a redemption request. These losses can be greater if the Fund holds securities that are not as liquid as others; for example, various types of bonds, shares of smaller companies and securities of foreign
issuers. A Fund may also experience higher expenses because it must sell or buy securities more frequently than it otherwise might in the absence of asset allocation program
rebalancing or reallocations. Because asset allocation programs include periodic rebalancing and may also include reallocation, these effects may occur under the asset allocation program we offer or under asset allocation programs used in conjunction with the contracts and
plans of other eligible purchasers of the Funds.
•
Funds available under the contract: We seek to provide a broad array of underlying funds taking into account the fees and charges imposed by each Fund and
the contract charges we impose. We select the underlying funds in which the Subaccounts initially invest and when there is substitution (see “Substitution of Investments”). We also make all decisions regarding which Funds to retain in a contract, which Funds to add to a contract and which Funds will
no longer be offered in a contract. In making these decisions, we may consider various objective and subjective factors. Objective factors include, but are not limited to Fund
performance, Fund expenses, classes of Fund shares available, size of the Fund and investment objectives and investing style of the Fund. Subjective factors include, but are not limited to, investment sub-styles and process, management skill and history at other Funds and portfolio
concentration and sector weightings. We also consider the levels and types of revenue, including but not limited to expense payments and non-cash compensation of a Fund, its distributor, investment adviser, subadviser, transfer agent or
their affiliates pay us and our affiliates. This revenue includes, but is not limited to compensation for administrative services provided with respect to the Fund and support of
marketing and distribution expenses incurred with respect to the Fund.
•
Money Market fund yield: In low interest rate environments, money market fund yields may decrease to a level where the deduction of fees and
charges associated with your contract could result in negative net performance, resulting in a corresponding decrease in your contract value.
•
Conflicts of Interest with Certain Funds Advised by Columbia
Management. We are an affiliate of Ameriprise Financial, Inc., which is the parent company of Columbia
Management Investment Advisers, LLC (Columbia Management). Columbia Management acts as investment adviser to several funds of funds, including Portfolio Navigator and Portfolio Stabilizer funds. As such, it retains full discretion over the investment activities and
investment decisions of the Funds. These funds invest in other registered mutual funds. In providing investment advisory services for the funds and the underlying funds in which those funds respectively invest, Columbia Management
is, together with its affiliates, including us, subject to competing interests that may influence its decisions. These competing interests typically arise because Columbia
Management Investment Advisers or one of its affiliates serves as the investment adviser to the underlying funds and may provide other services in connection with such underlying funds, and because the compensation we and our affiliates receive for providing these investment
advisory and other services varies depending on the underlying fund.
•
Revenue we receive from the Funds and potential conflicts of interest:
Expenses We May Incur on Behalf of the Funds
When a Subaccount invests in a Fund, the Fund holds a single account in the name of the Variable Account. As such, the
Variable Account is actually the shareholder of the fund. We, through our Variable Account, aggregate the transactions of numerous contract owners and submit net purchase and
redemption requests to the Funds on a daily basis. In addition, we track individual contract owner transactions and provide confirmations, periodic statements, and other required mailings. These costs would normally be borne by the fund, but we incur them instead.
Besides incurring these administrative expenses on behalf of the funds, we also incur distributions expenses in selling
our contracts. By extension, the distribution expenses we incur benefit the funds we make available due to contract owner elections to allocate purchase payments to the funds
through the Subaccounts. In addition, the funds generally incur lower distribution expenses when offered through our Variable Account in contrast to being sold on a retail basis.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 17
A complete
list of why we may receive this revenue, as well as sources of revenue, is described in detail below.
Payments the Funds May Make to
Us
We or our affiliates may receive from each of the Funds, or their affiliates, compensation including but not limited to
expense payments. These payments are designed in part to compensate us for the expenses we may incur on behalf of the Funds. In addition to these payments, the Funds may compensate us for wholesaling activities or to participate in
educational or marketing seminars sponsored by the Funds.
We or our affiliates may receive revenue derived from the 12b-1 fees
charged by the Funds. These fees are deducted from the assets of the Funds. This revenue and the amount by which it can vary may create conflicts of interest. The amount, type, and manner in which the revenue from these sources is computed vary by Fund.
Conflicts of
Interest These Payments May Create
When we determined the charges to impose under the contracts, we took into account anticipated payments from the Funds. If we had not taken into account these anticipated payments, the charges under the contract would have been
higher. Additionally, the amount of payment we receive from a Fund or its affiliate may create an incentive for us to include that Fund as an investment option and may influence our decision regarding which Funds to include in the
Variable Account as subaccount options for contract owners. Funds that offer lower payments or no payments may also have corresponding expense structures that are lower, resulting in decreased overall fees and expenses to
shareholders.
We offer Funds managed by our affiliates Columbia Management and
Columbia Wanger Asset Management, LLC (Columbia Wanger). We have additional financial incentive to offer our affiliated funds because additional assets held by them generally results in added revenue to us and our parent company, Ameriprise Financial, Inc. Additionally,
employees of Ameriprise Financial, Inc. and its affiliates, including our employees, may be separately incented to include the affiliated funds in the products, as employee compensation and business unit operating goals at all levels
are tied to the success of the company. Currently, revenue received from our affiliated funds comprises the greatest amount and percentage of revenue we derive from payments made
by the Funds.
The Amount of Payments We Receive from the Funds
We or our affiliates receive revenue which ranges up to 0.65%
of the average daily net assets invested in the Funds through this and other contracts we and our affiliates issue.
Why revenues are paid to us: In accordance with applicable laws, regulations and the terms of the
agreements under which such revenue is paid, we or our affiliates may receive revenue, including but not limited to expense payments and non-cash compensation, for various purposes:
•
Compensating, training and educating financial advisors who sell the contracts.
•
Granting access
to our employees whose job it is to promote sales of the contracts by authorized selling firms and their financial advisors, and granting access to financial advisors of our affiliated selling
firms.
•
Activities or services we or our affiliates provide that assist in the promotion and
distribution of the contracts including promoting the funds available under the contracts to contract owners, authorized selling firms and
financial advisors.
•
Providing sub-transfer agency and shareholder servicing to contract owners.
•
Promoting,
including and/or retaining the Fund’s investment portfolios as underlying Funds in the
contracts.
•
Advertising,
printing and mailing sales literature, and printing and distributing prospectuses and reports.
•
Furnishing
personal services to contract owners, including education of contract owners regarding the Funds, answering
routine inquiries regarding a Fund, maintaining accounts or providing such other services eligible for service fees as defined under the rules of the Financial Industry
Regulatory Authority (FINRA).
•
Subaccounting services, transaction processing, recordkeeping and administration.
•
Sources of revenue received from affiliated funds: The affiliated funds are managed by Columbia
Management or Columbia Wanger. The sources of revenue we receive from these affiliated funds, or from the funds’ affiliates, may include, but are not necessarily limited to, the following:
•
Assets of the
Fund’s adviser, sub-adviser, transfer agent, distributor or an affiliate of these. The revenue resulting from these sources may be based either on a percentage of average
daily net assets of the Fund or on the actual cost of certain services we provide with respect to the Fund. We may receive this revenue either in the form of a cash payment or it may be allocated to us.
•
Compensation
paid out of 12b-1 fees that are deducted from Fund assets.
18 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
•
Sources of revenue received from unaffiliated funds: The unaffiliated funds are not managed by an affiliate of ours. The sources of revenue we receive from these
unaffiliated funds, or the funds’ affiliates, may include, but are not necessarily limited to, the following:
•
Assets of the Fund’s adviser, sub-adviser, transfer agent, distributor or an affiliate
of these. The revenue resulting from these sources may be based either on a percentage of average daily net assets of the Fund or on the actual cost of certain services we provide with respect to the Fund. We receive this revenue in the form of a cash
payment.
•
Compensation paid out of 12b-1 fees that are deducted from Fund assets.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 19
The General Account
The general account includes all assets owned by RiverSource Life of NY, other than those in the Variable Account and our other separate accounts. Subject to applicable New York state law, we have sole discretion to decide how assets of the general account will be invested. The assets held in our
general account support the guarantees under your contract including any optional benefits offered under the contract. These guarantees are subject to the claims-paying ability and financial strength of RiverSource Life of NY. You should be aware that our general account is exposed to many of the same risks normally associated with a portfolio of fixed-income securities including interest rate, option, liquidity and
credit risk. You should also be aware that we issue other types of annuities and financial instruments and products as well, and these obligations are satisfied from the assets in our general account. Our general account is not segregated
or insulated from the claims of our creditors. The financial statements contained in the SAI include a further discussion of the risks inherent within the investments of the general account. The fixed account is supported by our general
account that we make available under the contract.
Amounts allocated to the fixed account are part of our general account. The fixed account includes the regular fixed
account and the Special DCA fixed account. We credit interest daily on amounts you allocate to the fixed account at rates we determine from time to time at our
discretion. Interest rates credited in excess of the guaranteed rate generally will be based on various factors related to future investment earnings. The guaranteed minimum
interest rate on amounts invested in the fixed account will not be lower than state law allows. We back the principal and interest guarantees relating to the fixed account. These guarantees are subject to the creditworthiness and continued
claims-paying ability of RiverSource Life of NY.
One year after receipt of each purchase payment or transfer, the rate for the payment or transfer amount, and its accumulated interest, may change. Interest will accrue at revised rates determined by us and at our discretion. These
rates may be based on various factors including, but not limited to, the interest rate environment, returns earned on investments backing these annuities, the rates currently in effect for new and existing company annuities, product
design, competition, and the company’s revenues and expenses. However, the rate will never be less than the fixed account minimum interest rate required under state law. Your interest rate for each purchase payment or transfer will
never change more frequently than annually.
Because of exemptive and exclusionary provisions, we have not registered interests in
the fixed account as securities under the Securities Act of 1933 nor have any of these accounts been registered as investment companies under the Investment Company Act of 1940. Accordingly, neither the fixed account nor any interests in the fixed account are
subject to the provisions of these Acts.
The fixed account has not been registered with the SEC. Disclosures regarding the
fixed account, however, are subject to certain generally applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in a prospectus.
The Regular Fixed Account
Unless you
have elected a living benefit rideror SecureSource Legacy Benefit, you also may allocate purchase payments or transfer contract value to the regular fixed account. The value of the regular fixed account increases as we credit interest to the account. We credit and compound interest daily based on a 365-day year (366 in a leap year) so as to
produce the annual effective rate which we declare. The interest rate we apply to each purchase payment or transfer to the regular fixed account is guaranteed for one year. Thereafter, we will change the rates from time to time at our
discretion, but your interest rate for each purchase payment or transfer will never change more frequently than annually. There are restrictions on transfers from this account and may be restrictions on the amount you can allocate to this
account. (See “Making the Most of Your Contract — Transfer
policies”.)
The Special DCA Fixed Account
You may allocate purchase payments to the Special DCA fixed account. You may not
transfer contract value to the Special DCA fixed account.
You may allocate your entire purchase payment to the Special DCA fixed account for a
term of six or twelve months. We reserve the right to offer shorter or longer terms for the Special DCA fixed account.
In accordance with your investment instructions, we transfer amounts from the Special DCA fixed account to the
subaccounts so that, at the end of the Special DCA fixed account term, the balance of the Special DCA fixed account is zero. The amount of each transfer equals the remaining Special DCA fixed account value on the date of the transfer
divided by the number of remaining transfers in the program. You may not change the amount of transfers. The first Special DCA monthly transfer occurs one day after we receive your payment. You may not use the regular fixed account as
a destination for the Special DCA monthly transfer.
20 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The value of the Special
DCA fixed account increases when we credit interest to the Special DCA fixed account, and decreases when we make monthly transfers from the Special DCA fixed account. When you
allocate a purchase payment to the Special DCA fixed account, the interest rates applicable to that purchase payment will be the rates in effect for the Special DCA fixed account term you choose on the date we receive your purchase payment. The applicable interest rate
is guaranteed for the length of the term for the Special DCA fixed account term you choose. We credit and compound interest daily based on a 365-day year (366 in a leap year) so
as to produce the annual effective rate which we declare. We credit interest only on the declining balance of the Special DCA fixed account; we do not credit interest on amounts that have been transferred from the Special DCA fixed account. As a result, the net effective interest rates
we credit will be less than the declared annual effective rates. We will credit the Special DCA fixed account with interest at the same annual effective rate we apply to the regular fixed account on the date we receive your purchase payment,
regardless of the length of the term you select. From time to time, we may credit interest to the Special DCA fixed account at promotional rates that are higher than those we credit to the regular fixed account. We reserve the right to
declare different annual effective rates:
•
for the Special DCA fixed account and the regular fixed account; and
•
for the Special DCA fixed accounts with terms of differing length.
Alternatively, you may
allocate your purchase payment to any combination of the following which equals one hundred percent of the amount you invest:
•
the Special DCA fixed account for a six month term;
•
the Special
DCA fixed account for a twelve month term;
•
the approved investment options for the SecureSource Legacy benefit rider or one of the SecureSource series riders and APB riders;
•
unless you have elected one of the optional living benefit ridersor SecureSource
Legacy Benefit, to the regular fixed account and/or the subaccounts, subject to investment minimums and other restrictions we may impose on investments in the regular fixed account.
Once you establish a Special DCA fixed account, you cannot allocate additional purchase payments to it. However, you may establish another Special DCA fixed account and allocate new purchase payments to it.
You may discontinue any Special DCA fixed account before the end
of its term by giving us notice. If you do so, we will transfer the remaining balance of the Special DCA fixed account: 1) to the approved investment options, if a living benefit rider or the
SecureSource Legacy benefit rider is elected, 2) either in accordance with your
investment instructions to us or to the regular fixed account, if available and if no living benefit rider
or the SecureSource Legacy benefit rider is elected. Transfers are subject to investment minimums and other restrictions we may impose on
investments in the regular fixed account, including but not limited to, any limitations described in this prospectus on transfers (see “Transfer policies”).
Dollar-cost averaging from the Special DCA fixed account does not guarantee that any
subaccount will gain in value nor will it protect against a decline in value if market prices fall. For an example of how Special DCA dollar-cost averaging works, see table below showing the Special DCA fixed account for a six-month term.
How Special dollar-cost averaging works
By spreading the investment over the term of the Special DCA |
|
|
|
|
|
|
Number of units purchased |
you automatically buy
more units when the
per unit market price is low |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and fewer units when the per unit market price is high. |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
You paid an average price of $18.11 per unit over the 6 months, while the average
market price actually was $18.33.
New contracts as described in this prospectus are not currently being offered.
The Contract offers a choice of a seven-year or ten-year
surrender charge schedule and mortality and expense risk fees that vary by surrender charge schedule. We are required by law to obtain personal information from you which we will
use to verify your identity. If you do not provide this information we reserve the right to refuse to issue your Contract or
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 21
take other steps we deem
reasonable. As the owner, you have all rights and may receive all benefits under the Contract. You may buy a qualified or nonqualified annuity. Generally, you can own a
nonqualified annuity in joint tenancy with rights of survivorship only in spousal situations. You cannot own a qualified annuity in joint tenancy. You can buy a Contract if
you are 90 or younger.
When you applied, you may have selected among the following:
•
the regular fixed account, subaccounts and/or the Special DCA fixed account in which you want to invest;
•
how you want to make purchase payments;
•
the length of the surrender charge period (seven or ten years);
•
one of the following optional death benefit riders:
•
ROPP Death
Benefit (available if you are age 80 or older);
•
5-Year MAV Death Benefit;
•
an additional optional death benefit:
•
SecureSource Legacy Benefit;
•
one of the following optional living benefit riders:
•
For Contracts with applications signed on or after 5/3/2021:
•
For Contracts with applications signed on or after 5/3/2021 but prior to 1/1/2022:
•
SecureSource Core 2 NY;
•
SecureSource 5 Plus NY.
•
For Contracts with applications signed prior to 5/3/2021:
•
SecureSource 4 Plus NY.
•
For Contracts with applications signed prior to 3/30/2020:
•
Accumulation Protector Benefit; or
•
SecureSource Core Plus NY.
We restrict investment options if you select the SecureSource
series riders, SecureSource Legacy benefit rider or APB rider and you are required to allocate your purchase payments and Contract value to the approved
investment options, as described in the “Investment Allocation Restrictions for Certain Benefit Riders” section in this prospectus.
The Contract provides for allocation of purchase payments to the subaccounts of the variable account, to the regular
fixed account and/or to the Special DCA fixed account. We currently allow you to allocate the total amount of purchase payment to the regular fixed account. We reserve the right to limit purchase payment allocations to the regular fixed
account with 30 days written notice, if the interest rate we are then currently crediting to the regular fixed account is equal to the minimum interest rate stated in the Contract. You cannot allocate purchase payments to the fixed account
for six months following a partial surrender from the fixed account, a lump sum transfer from the regular fixed account, or termination of automated transfers from the Special DCA fixed account prior to the end of the Special DCA fixed
account term. (See “Purchase Payments.”)
If your application is complete, we will process it and apply your purchase payment
to your investment selections within two business days after we receive it at our Service Center. If we accept your application, we will send you a Contract. If your application is not complete, you must give us the information to complete it within five business days. If we cannot
accept your application within five business days, we will decline it and return your payment unless you specifically ask us to keep the payment and apply it once your application is complete.
We will credit eligible additional purchase payments you make to your accounts on the
valuation date we receive them. If we receive an additional purchase payment at our Service Center before the close of business, we will credit any portion of that payment allocated to the subaccounts using the accumulation unit value we calculate on the valuation
date we received the payment. If we receive an additional purchase payment at our Service Center at or after the close of business, we will credit any portion of that payment allocated to the subaccounts using the accumulation unit value
we calculate on the next valuation date after we received the payment.
22 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
You may make regular
payments to your Contract under a scheduled payment plan. You must make an initial purchase payment of $1,000 or $2,000 depending on the tax qualification (see “Buying Your
Contract — Purchase Payments”). Once the required initial purchase payment amount has been met, you can begin the scheduled payment plan by sending a completed form to our Service Center. Certain qualified plan applications allow the establishment of a
scheduled payment plan without meeting the required initial purchase payment amount. Contact your financial advisor for details. There is no charge for the scheduled payment plan. You can stop your scheduled payment plan payments at any
time.
Householding and delivery of certain documents
With your prior consent, RiverSource Life and its affiliates may use and
combine information concerning accounts owned by members of the same household and provide a single paper or electronic copy of certain documents to that household. This householding of documents may include prospectuses, supplements, annual reports, semiannual reports and
proxies. Your authorization remains in effect unless we are notified otherwise. If you wish to continue receiving multiple copies of these documents, you can opt out of
householding by calling us at 1.866.273.7429. Multiple mailings will resume within 30 days after we receive your opt out request.
You should only exchange a contract you already own if you determine, after
comparing the features, fees, and risks of both contracts, that it is better for you to purchase the new contract rather than continue to own your
existing contract.
Generally, you can exchange one nonqualified annuity for another or for a qualified long-term care policy in a “tax-free”
exchange under Section 1035 of the Code. You can also do a partial exchange from one nonqualified annuity contract to another annuity contract, subject to Internal Revenue Service (IRS) rules. You also generally can exchange a life
insurance policy for a nonqualified annuity. However, before making an exchange, you should compare both contracts carefully because the features and benefits may be different. Fees and charges may be higher or lower on your
old contract than on the new contract. You may have to pay a surrender charge when you exchange out of your old contract and a new surrender charge period may begin when you exchange into the new contract. If the exchange does not qualify for Section 1035 treatment, you also may have to pay federal income tax on the distribution.
State income taxes may also apply. You should not exchange your old contract for the new contract or buy the new contract in addition to your old contract, unless you determine it is in your best interest. (See “Taxes — 1035 Exchanges.”)
Purchase payment amounts and purchase payment timing may be limited under the terms
of the contract. If we do not receive your initial purchase payment within 180 days from the application signed date, we will consider your contract void from the start. For contracts with a SecureSource series rider, if we do not receive your initial purchase payment within 90 days from the application signed date, we
will consider your contract void from the start.
Minimum initial purchase
payments*
Minimum additional purchase payments*
Maximum total purchase payments** (without our approval) based on the contract year and your age on the effective date of the payment:
For the first contract year and total:
For each contract year thereafter if maximum purchase payment not already
received:
*
If a group billing arrangement is set up through your employer, the minimum initial and
minimum additional purchase payment is $25.
**
These limits apply in total to all RiverSource Life of NY annuities you own unless a higher
amount applies to your contract. We reserve the right to waive or increase the maximum limit. For qualified annuities, the Code’s limits on annual contributions also apply.
Additional purchase payments for inherited IRA contracts cannot be made unless the payment is IRA money inherited from the same decedent.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 23
Additional purchase payment restrictions for contracts with the SecureSource series rider
The riders prohibit additional purchase payments unless: (1) the payment is received at time of application or within 90
days thereafter, or (2) for qualified annuities where additional purchase payments are allowed in any contract year up to the maximum permissible annual contribution described by
the Code, until total additional purchase payments are $100,000.
For contracts with applications signed before 3/30/2020: No additional purchase payments will be allowed except for certain purchase payments for qualified annuities:
Current tax year contributions for Tax Sheltered Annuities (TSA) under Section 403(b) of the Internal Revenue Code of
1986 (the Code) and Custodial and investment only plans under Section 401(a) of the Code, up to the annual limit set by the Internal Revenue Service (IRS).
Prior and current tax year contributions up to the annual limit set up by the IRS for
any Qualified Accounts except TSA and 401(a). This annual limit applies to Individual Retirement Accounts (IRAs), Roth IRAs, SIMPLE IRAs and Simplified Employee Pension IRA (SEP) plans.
We are waiving only the $100,000 total additional purchase payment restriction for
qualified annuities until further notice.
For contract with applications signed on or after 3/30/2020: These restrictions are being waived until further notice and We will accept additional purchase payments up to the
maximum purchase payments permitted.
These riders also prohibit additional purchase payments if:
(1)
you decline any increase to the annual rider fee, or
(2)
for the SecureSource Tempo NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource 4 NY and SecureSource 4 Plus NY riders, the Current Annual Payment is established and your contract value on an
anniversary is less than four times the Benefit Base multiplied by the Minimum Lifetime Payment Percentage for your current Age Band.
(3) for the SecureSource Core 2 NY, SecureSource Core NY and SecureSource Core Plus NY, the Current Annual Payment is established and your contract value on an anniversary is less than four times the Current Annual Payment.
Additional purchase payment restrictions for contracts with the Accumulation Protector Benefit rider
Additional purchase payments for contracts with the Accumulation Protector Benefit rider are not allowed during the
Waiting Period except for the first 180 days (1) immediately following the effective date and (2) following the last contract anniversary for each elective step up. Additional purchase payments are also limited to $100,000; however, this restriction is currently being waived until
further notice.
Additional purchase payment restrictions for contracts with the SecureSource Legacy benefit rider
The rider prohibits additional purchase payments unless: (1) the payment is received at time of application or within 90
days thereafter, or (2) for qualified annuities where additional purchase payments are allowed in any contract year up to the maximum permissible annual contribution described by
the Code, until total additional purchase payments are $100,000; however, these restrictions are currently being waived until further notice.
How to Make Purchase Payments
Our Service Center or your financial advisor can help you to move money electronically.
You can use the secure site
at Ameriprise.com or the Ameriprise Financial app
if you are an Ameriprise client.
Send your check along with your name and contract number to:
RiverSource Life Insurance Co. of New York
70500 Ameriprise Financial Center
Minneapolis, MN 55474
24 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Limitations on Use of
Contract
If mandated by applicable law, including but not limited to, federal anti-money
laundering laws, we may be required to reject a purchase payment. We may also be required to block an owner’s access to contract values and satisfy other statutory obligations. Under these circumstances, we may refuse to implement requests for transfers, surrenders or death
benefits until instructions are received from the appropriate governmental authority or court of competent jurisdiction.
The Annuitization Start Date
Annuity payouts begin on the annuitization start date. This means that the contract will be annuitized (converted to a
stream of monthly payments). If your contract is annuitized, the contract goes into payout and only the annuity payout provisions continue. You will no longer have access to your contract value. This means that the death benefit and any
optional benefits you have elected will end. When we process your application, we will establish the annuitization start date to be the maximum age (or contract anniversary if applicable). You also can change the annuitization start date,
provided you send us written instructions at least 30 days before annuity payouts
begin.
The annuitization start date must be:
•
no earlier than 13 months after the contract’s effective date; and no later than
•
the owner’s 95th birthday or the tenth contract anniversary, if later,
•
or such other
date as agreed to by us but not later than the owner’s 105th birthday.
Six months prior to your annuitization start date, we will contact you with your
options including the option to postpone your annuitization start date to a future date. You can also choose to delay the annuitization of your contract to a date beyond age 95, to the extent allowed by applicable state law and tax laws.
If you do not make an election, annuity payouts using the contract’s default
option of annuity payout Plan B — Life Income with 10 years certain will begin on the annuitization start date and your monthly annuity payments will continue for as long as the annuitant lives. If the annuitant does not survive 10 years, we will continue to make payments until
10 years of payments have been made (see “The Annuity Payout Period – Annuity Payout Plans”).
Generally, if you own a qualified annuity (for example, an IRA) and tax laws require that you take distributions from your
annuity prior to your annuitization start date, your contract will not be automatically annuitized.
However, if you choose, you can elect to request annuitization or take partial surrenders to meet your required minimum distributions.
Please see "SecureSource Tempo NY/SecureSource Core 2 NY/SecureSource 5 NY/SecureSource 5 Plus NY/SecureSource Core NY/SecureSource Core Plus NY/SecureSource 4 NY/SecureSource 4 Plus NY — Other Provisions” section regarding options under this rider at the annuitization start date.
We will pay to your named beneficiary the death benefit if it becomes payable while the contract is in force and before
the annuitization start date. If there is more than one beneficiary we will pay each beneficiary’s designated share when we receive their completed claim. A beneficiary will bear the investment risk of the Variable Account until we receive the
beneficiary’s completed claim. If there is no named beneficiary, then the default provisions of your contract will apply. (See “Benefits in Case of Death” for more about beneficiaries.)
If you select
one of the SecureSource series riders — Joint Life rider, please consider carefully whether or not you wish to change the beneficiary of your annuity contract. The rider will terminate if the surviving covered spouse cannot utilize the spousal continuation provision of the contract when the death benefit is payable.
If you surrender all or part of your contract before the annuitization start date, we may deduct a surrender charge from
the contract value that is surrendered. A surrender charge applies if all or part of the surrender amount is from purchase payments we received within seven or ten years before surrender. You select the surrender charge period at the
time of your application for the contract. The surrender charge percentages that apply to you are shown in your contract.
If you are buying a new contract as an inherited IRA, please consider carefully your
surrender charge selection. Surrender charges for an inherited IRA are only waived for life time RMD amounts, not for a 5 year distribution.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 25
You may surrender an amount
during any contract year without a surrender charge. We call this amount the total free amount (FA). The FA varies depending on whether your contract includes the SecureSource series rider. Contract earnings are defined as contract value (the sum of the contract value in the Regular Fixed Account, contract value in
the Special DCA Fixed Account and contract value in the Variable Account), less purchase payments not
previously surrendered, but not less than zero.
Contract without SecureSource series rider
The FA is the greater of:
•
10% of the contract value on the prior contract anniversary, less any prior surrenders taken
in the current contract year; or
•
current
contract earnings.
During the first contract year, the FA is the greater of:
•
10% of all purchase payments applied prior to your surrender request, less any amounts surrendered prior to your
surrender request that represent the FA; or
•
current
contract earnings.
Contract with SecureSource series rider
The FA is the greatest of:
•
10% of the contract value on the prior contract anniversary less any prior surrenders taken in
the current contract year;
•
current
contract earnings; or
•
the Remaining Annual Payment.
During the first contract year, the FA is the greatest of:
•
10% of all purchase payments applied prior to your surrender request, less any amounts surrendered prior to your
surrender request that represent the FA;
•
current
contract earnings; or
•
the Remaining Annual Payment.
Amounts surrendered in excess of the FA may be subject to a surrender charge as described below.
A surrender charge will apply if the amount you surrender includes any of your prior purchase payments that are still
within their surrender charge schedule. To determine whether your surrender includes any of your prior purchase payments that are still within their surrender charge schedule, we surrender amounts from your contract in the following
order:
1.
First, we surrender the FA. Contract earnings are surrendered first, followed by purchase
payments. We do not assess a surrender charge on the FA. We surrender payments that are considered part of the FA on a first-in, first-out (FIFO) basis.
2.
Next, we surrender purchase payments received that are beyond the surrender charge period
shown in your contract. We surrender these payments on a FIFO basis. We do not assess a surrender charge on these payments.
3.
Finally, we surrender any additional purchase payments received that are still within the surrender charge period shown
in your contract. We surrender these payments on a FIFO basis. We do assess a surrender charge on these payments.
The amount of purchase payments surrendered is calculated using a prorated formula based on the percentage of contract value being surrendered. As a result, the amount of purchase payments surrendered may be greater than the
amount of contract value surrendered.
We determine your surrender charge by multiplying each of your payments surrendered
which could be subject to a surrender charge by the applicable surrender charge percentage and then adding the total surrender charges. For more information on how these charges are calculated, see Appendix C.
26 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The surrender charge
percentage depends on the number of years since you made the payments that are surrendered, depending on the schedule you selected, as shown in the table below:
| |
|
Number of completed years from date of each purchase payment |
Surrender charge percentage applied to each purchase payment |
Number of completed years from date of each purchase payment |
Surrender charge percentage applied to each purchase payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
For a partial surrender, we will determine the amount of contract value that needs to be surrendered, which after any
surrender charge, will equal the amount you request.
For an example, see Appendix C.
Fixed payouts: Surrender charge under annuity payout plans allowing surrenders of the present value of remaining guaranteed payouts:
If you elect an annuity payout plan on a fixed basis and the plan we make available
provides a liquidity feature permitting you to surrender any portion of the underlying value of remaining guaranteed payouts, a surrender charge may apply.
A surrender charge will be assessed against the present value of any remaining
guaranteed payouts surrendered. The discount rate we use in determining present values varies based on: (1) the contract value originally applied to the fixed annuitization; (2) the remaining years of guaranteed payouts; (3) the annual effective interest rate and the periodic
payment amount for new immediate annuities of the same duration as the remaining years of guaranteed payouts; and (4) the interest spread (currently 1.50%). If we do not currently offer immediate annuities, we will use rates and values
applicable to new annuitizations to determine the discount rate.
Once the discount rate is applied and we have determined the present value of the
remaining guaranteed payouts you are surrendering, the present value determined will be multiplied by the surrender charge percentage in the table below and deducted from the present value to determine the net present value you will
receive.
Number of Completed Years Since Annuitization
|
Surrender charge percentage |
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
*
We do not permit surrenders in the first year after annuitization.
We will provide a quoted present value (which includes the deduction of any surrender charge). You must then formally elect, in a form acceptable to us, to receive this value. The remaining guaranteed payouts following surrender will be
reduced, possibly to zero.
Waiver of surrender charges
We do not assess surrender charges for:
•
surrenders each year that represent the total free amount for that year;
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 27
•
required
minimum distributions from a qualified annuity to the extent that they exceed the free amount. The amount on which surrender charges are waived can be no greater than the RMD
amount calculated under your specific contract currently in force. Surrender charges for an inherited IRA are only waived for life time RMD amounts, not for a 5 year distribution;
•
amounts applied to an annuity payment plan (Exception: As described above, if you elect an annuity payout plan with guaranteed payouts and you choose later to surrender the value of your remaining annuity guaranteed payments, we will
assess a surrender charge.);
•
surrenders made as a result of one of the “Contingent events” described below to
the extent permitted by state law. Waiver of surrender charges for Contingent events will not apply to Tax Free Exchanges, rollovers and transfers to another annuity contract;
•
amounts we refund to you during the free look period; and
•
Surrenders you make if you are confined to a hospital or nursing home and have been for the prior 60 days or confinement
began within 30 days following a 60 day confinement period. Such confinement must begin after the contract issue date. Your contract will include this provision when you are
under age 76 at contract issue. You must provide us with a letter containing proof satisfactory to us of the confinement as of the date you request the surrender. We must receive your surrender request no later than 91 days after your release from the hospital or nursing
home. The amount surrendered must be paid directly to you.
•
Surrenders you make if you are diagnosed in the second or later contract years with a medical
condition that with reasonable medical certainty will result in death within 12 months or less from the date of the diagnosis. You must provide us with a licensed physician’s statement containing the terminal illness diagnosis, the expected date of
death and the date the terminal illness was initially diagnosed. The amount surrendered must be paid directly to you.
Other information on charges: Ameriprise Financial, Inc. makes
certain custodial services available to some profit sharing, money purchase and target benefit plans funded by our annuities. Fees for these services start at $30 per calendar year per participant. Ameriprise Financial, Inc. will charge a termination fee for owners under age 59 ½ (fee waived in case of death or disability).
Possible group reductions: In some cases we may incur lower sales and administrative expenses due to the size of the group, the average
contribution and the use of group enrollment procedures. In such cases, we may be able to reduce or eliminate certain charges such as the contract administrative and surrender
charges. However, we expect this to occur infrequently.
Base Contract Expenses consist of the contract administrative charge and mortality and expense risk fee.
Contract Administrative Charge
We charge this fee for establishing and maintaining your records. Currently, we
deduct $50* from your contract value on your contract anniversary or, if earlier, when the contract is fully surrendered. We prorate this charge among the subaccounts and the fixed account in the same proportion your interest in each account bears to your total contract
value.
We will waive this charge when your contract value is $50,000 or more on the current
contract anniversary. We reserve the right to charge up to $20 after the first contract anniversary for contracts with contract value of $50,000 or more.
If you take a full surrender of your contract, we will deduct the charge at the time of surrender regardless of the contract value. This charge does not apply to amounts applied to an annuity payment plan or to the death benefit.
*
For contracts with applications signed before 5/4/2020, the contract administrative charge
is $30 through the later of the first contract anniversary and 7/30/20. Thereafter the contract administrative charge is $50.
Mortality and Expense Risk Fee
We charge this fee daily to the subaccounts as a percentage of the daily contract
value in the variable account. The unit values of your subaccounts reflect this fee. These fees cover the mortality and expense risk that we assume. These fees do not apply to the fixed account. The fees listed below are the current fees and they cannot be changed.
The mortality and expense risk fee you pay is based on the surrender charge schedule that applies to your contract, by
contract year if you elect a seven-year surrender charge schedule, and if you select an optional death benefit rider.
28 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
RAVA 5 Advantage with ten-year surrender charge
schedule |
|
RAVA 5 Advantage with seven-year surrender charge
schedule* |
|
*After the 10th contract anniversary, the Mortality and expense risk fee is 0.95%.
You may select one of the following optional death benefit riders for
an additional fee. The optional rider fee will be added to your mortality and expense risk fee.
(1)
Only available for purchase as an optional rider for ages 80 or older on the rider effective date.
Mortality risk arises because of our guarantee to pay a death benefit and our
guarantee to make annuity payouts according to the terms of the contract, no matter how long a specific owner or annuitant lives and no matter how long our entire group of owners or annuitants live. If, as a group, owners or annuitants outlive the life expectancy we
assumed in our actuarial tables, we must take money from our general assets to meet our obligations. If, as a group, owners or annuitants do not live as long as expected, we could profit from the mortality risk fee. We deduct the
mortality risk fee from the subaccounts during the annuity payout period even if the annuity payout plan does not have a life contingent payment.
Expense risk arises because we cannot increase the contract administrative charge
(except for contracts with contract value of $50,000 or more, where we reserve the right to charge a contract administrative change up to $20 after the first contract anniversary) and this charge may not cover our expenses. We would have to make up any deficit from our
general assets. We could profit from the expense risk fee if future expenses are less than expected.
The subaccounts pay us the mortality and expense risk fee they accrued as follows:
•
first, to the extent possible, the subaccounts pay this fee from any dividends distributed
from the funds in which they invest;
•
then, if
necessary, the funds redeem shares to cover any remaining fees payable.
We may use any profits we realize from the subaccounts’ payment to us of the
mortality and expense risk fee for any proper corporate purpose, including, among others, payment of distribution (selling) expenses. We do not expect that the surrender charge discussed in the “Transaction Expenses – Surrender Charge”, will cover sales and
distribution expenses.
Optional Living Benefit Charges
SecureSource Series Rider Charge
We deduct an annual charge for this optional feature only if you select one of the SecureSource
series riders. The current annual rider fees applicable to the contract issued while this prospectus is in effect are shown in the Rate Sheet Prospectus Supplements. (see Appendix G: Prospectus Rate Sheet supplements for rates applicable to your contract)
The charge is calculated by multiplying the annual rider fee by the greater of the Benefit Base (after any Annual Credit or before any Returns Linked Credit is added) or the anniversary contract value, unless the contract value is greater than
the maximum Benefit Base. The maximum Benefit Base is $20 million. In that case, the charge will be calculated by multiplying the annual rider fee by the maximum Benefit Base.
We deduct the charge from your contract value on your contract anniversary. Remember,
since the charge is taken on a contract anniversary all purchase payments received during the preceding calendar year will increase your charge. This is especially important to consider when you make purchase payments near your contract anniversary because the payment
amount increases your contract value and will result in an increased rider anniversary charge. We prorate this charge among variable Subaccounts but not the fixed account in the
same proportion as your interest in each bears to your total Variable Account value.
Once you elect the SecureSource series rider, you may not cancel it (except as described later), and the charge will
continue to be deducted until the contract or rider is terminated or until the contract value reduces to zero. If the contract or rider is terminated for any reason, we will deduct the charge, adjusted for the number of calendar days
coverage was in place since we last deducted the charge.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 29
Currently the SecureSource series rider fee does not vary with the investment option selected; however, we reserve
the right to vary the rider fee for each investment option. The rider fee will not exceed the maximum as shown in the table below:
SecureSource series rider (Available for contract applications signed on or after 5/3/2021) |
|
| |
|
| |
|
|
SecureSource series rider (Available for contract applications signed on or after 5/3/2021 but prior to 1/1/2022 ) |
|
|
| |
|
|
| |
|
|
| |
|
|
SecureSource series rider
(Available for contract applications signed prior to
5/3/2021) |
|
|
| |
|
|
| |
|
|
| |
|
|
SecureSource series rider (Available for contract applications signed prior to 3/30/2020) |
|
|
SecureSource Core Plus NY |
|
|
The following describes how your annual rider fee may increase:
1.
We may increase the annual rider fee for all approved investment options at our discretion
and on a nondiscriminatory basis up to the maximum fee. Your annual rider fee will increase if we declare an increase to the fee with written notice 30 days in advance except as described below. The new fee will be in effect on the date we
declare in the written notice.
(A)
You can decline
this increase and therefore all future fee increases if we receive your written request prior to the date of the fee increase, in which case you permanently relinquish:
(i)
all future annual step-ups, and for the Joint Life rider, spousal continuation
step-ups,
(ii)
any ability to make additional purchase payments,
(iii)
any future Annual Credits (Returns-linked Credits for SecureSource Tempo NY), and the Credit Base will be
permanently set to zero,
(iv)
any increase to
the Lifetime Payment Percentage due to changing age bands on subsequent birthdays and rider anniversaries, and
(v)
For
SecureSource Core Plus NY rider only, any future Base Doubler adjustment and the Base Doubler will be
permanently set to zero.
(B)
You can terminate
this rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase and if we receive your written request to
terminate the rider prior to the date of the fee increase.
2.
The annual rider fee
associated with a specified investment option may change at our discretion. If you are invested in any investment option that has an increase in the associated annual rider fee,
your annual rider fee will increase. Currently the SecureSource series rider fee does not vary with the investment option selected.
If the rider fee changes
during a contract year, we will calculate an average annual rider fee, for that contract year only, that reflects the various different fees that were in effect for each
investment option that contract year, adjusted for the number of days each fee was in effect and the percentage of contract value allocated to each investment option.
The fee does not apply after the annuitization start date or if the rider is terminated.
Accumulation Protector Benefit Rider Charge
We deduct an annual charge for this optional feature only if you select it.
The current initial annual rider fee is 1.30%*. The charge is calculated by multiplying the annual rider fee by the greater of your contract value or the Minimum Contract Accumulation Value (as defined in the “Optional Living Benefits – Accumulation Protector Benefit Rider” section) on your contract anniversary. We prorate this charge among variable subaccounts in the same proportion as your
interest in each bears to your total variable account contract value.
30 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
Currently the Accumulation Protector Benefit rider fee does not vary with the investment option selected; however,
we reserve the right to vary the rider fee for each approved investment option, but it will not exceed the maximum fee of 2.00%.
If multiple rider fees are in effect during a contract year, we will calculate an average annual rider fee, based on the number of days each fee was in effect and the percentage of contract value allocated to each investment option.
The following describes how your annual rider fee may change:
1.
We may change the annual rider fee for any approved investment options at our discretion and
on a nondiscriminatory basis up to a maximum fee of 2.00%. Your annual rider fee will increase if we declare an increase to the fee with written notice 30 days in advance. The new fee will be in effect on the date we declare in the written
notice. You can terminate this rider if you are invested in any investment option that has an increase and if we receive your written request to terminate the rider prior to the date of the fee increase. However, in order to be
eligible for termination you must be invested in that investment option on the eligibility date we specify in the written notice. Currently the Accumulation Protector Benefit rider fee does not vary with the investment option selected.
2.
We may also change
the annual rider fee(s) if you exercise the elective step-up option or elective spousal continuation step up. You do not have the option to terminate the rider if the fee
increases due to an elective step-up.
Once you elect the
Accumulation Protector Benefit rider, you may not cancel it and the charge will continue to be deducted through the end of the Waiting Period.
If your contract or rider is terminated for any reason including payment of the death benefit, the rider charge will be
deducted, adjusted for the number of days coverage was in place during the contract year.
The fee does not apply after the Benefit Date or after the annuitization start date.
*
For contract applications signed prior to 10/28/2019, the current initial annual rider fee is
1.15%.
The annual rider fees for elective step up (including elective spousal continuation
step up) requests, for contract applications signed on or after
10/28/2019:
The annual rider fees for elective step up (including elective spousal continuation step
up) requests, for contract applications signed prior to 10/28/2019:
Optional Death Benefit Rider Charge
SecureSource Legacy Benefit Rider Charge
We deduct an annual charge for this optional feature only if you select it. For contracts with applications signed on or
after 5/4/2020, the current annual rider fee is 0.35%. For contracts with applications signed prior to 5/4/2020, the current annual rider fee is 0.25%.
We prorate this charge among the variable subaccounts, but not the fixed account, in
the same proportion your interest in each account bears to your total variable account contract value on your contract anniversary.
The charge is calculated on your contract anniversary by multiplying the annual rider fee by the greater of the SecureSource Legacy benefit amount or the contract value.
For contracts with applications signed on or after 5/4/2020, the SecureSource Legacy benefit
rider fee will not exceed a maximum of 0.50%. For contracts with applications signed prior to 5/4/2020, the
SecureSource Legacy benefit rider
fee will not exceed a maximum of 0.40%.
Currently the SecureSource Legacy benefit rider fee does not vary with the investment option selected; however, we may
increase the annual rider fee for all approved investment options at our discretion and on a nondiscriminatory basis. Your annual rider fee will increase if we declare an increase to the fee with written notice 30 days in advance. The new
fee will be in effect on the date we declare in the written notice. You can terminate this rider if we receive your written request prior to the date of the fee increase.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 31
If your rider fee changes
during the contract year, on the next contract anniversary we will calculate an average rider fee for that contract year only, adjusted for the number of calendar days each fee
was in effect.
If your contract or rider is terminated for any reason, the rider charge will be deducted, adjusted for the number of days
coverage was in place during the contract year, and further charges for this rider will terminate.
The fee does not apply after the annuitization start date.
There are deductions from and expenses paid out of the assets of the funds that are described in the prospectuses for
those funds.
We value your accounts as follows:
We value the amounts you allocate to the fixed account directly in dollars. The value
of the fixed account equals:
•
the sum of your purchase payments allocated to the regular fixed account and Special DCA fixed account and transfer
amounts to the regular fixed accounts;
•
plus interest
credited;
•
minus the sum of amounts surrendered (including any applicable surrender charges) and amounts
transferred out; and
•
minus any prorated portion of the contract administrative charge.
We convert amounts you allocated to the subaccounts into accumulation units. Each time you make a purchase payment or
transfer amounts into one of the subaccounts, we credit a certain number of accumulation units to your contract for that subaccount. Conversely, we subtract a certain number of
accumulation units from your contract each time you take a partial surrender, transfer amounts out of a subaccount, or we assess a contract administrative charge, a surrender charge or fee for any optional riders with annual charges (if applicable).
The accumulation units are the true measure of investment value
in each subaccount during the accumulation period. They are related to, but not the same as, the net asset value of the fund in which the subaccount invests. The dollar value of each accumulation unit can rise or fall daily depending on the variable account expenses, performance of the
fund and on certain fund expenses. Here is how we calculate accumulation unit values:
Number of units: To calculate the number of accumulation units for a particular subaccount we divide your investment by the current
accumulation unit value.
Accumulation unit value: The current accumulation unit value for each subaccount equals the last value
times the subaccount’s current net investment factor.
We determine the net investment factor by:
•
adding the fund’s current net asset value per share, plus the per share amount of any accrued income or capital gain
dividends to obtain a current adjusted net asset value per share; then
•
dividing that
sum by the previous adjusted net asset value per share; and
•
subtracting the percentage factor representing the mortality and expense risk fee from the
result.
Because the net asset value of the fund may fluctuate, the accumulation unit value
may increase or decrease. You bear all the investment risk in a subaccount.
Factors that affect subaccount accumulation
units: Accumulation units may change in two ways — in number and in value.
The number of accumulation units you own may fluctuate due to:
•
additional purchase payments you allocate to the subaccounts;
•
transfers into or out of the subaccounts;
32 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
and a deduction of a
prorated portion of:
•
the contract administrative charge;
•
the SecureSource Legacy Benefit rider charge;
•
the SecureSource series rider charge; or
•
Accumulation Protector Benefit rider charge.
Accumulation unit values will fluctuate due to:
•
changes in fund net asset value;
•
fund dividends distributed to the subaccounts;
•
fund capital
gains or losses;
•
fund operating expenses; and/or
•
mortality and expense risk fees.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 33
Making the Most of Your Contract
Automated Dollar-Cost Averaging
Currently, you can use automated transfers to take advantage of dollar-cost averaging
(investing a fixed amount at regular intervals). For example, you might transfer a set amount monthly from a relatively conservative subaccount to a more aggressive one, or from the regular fixed account to one or more subaccounts. You may not set up an automated
transfer to the regular fixed account. You can also obtain the benefits of dollar-cost averaging by setting up regular automatic payments under a scheduled payment plan. There is no charge for dollar-cost averaging.
This systematic approach can help you benefit from fluctuations
in accumulation unit values caused by fluctuations in the market values of the funds. Since you invest the same amount each period, you automatically acquire more units when the market value falls and fewer units when it rises. The potential effect is to lower your average cost per unit.
How dollar-cost averaging works
By investing an equal number of dollars each month |
|
|
|
|
Number of units purchased |
| |
|
|
|
|
|
| |
|
|
|
|
|
you automatically buy
more units when the
per unit market price is low |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
and fewer units
when the per unit
market price is high. |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
You paid an average price of $17.91 per unit over the 10 months, while the
average market price actually was $18.10.
Dollar-cost averaging does not guarantee that any subaccount will gain in value nor will it protect against a decline in value if market prices fall. Because dollar-cost averaging involves continuous investing, your success will depend upon
your willingness to continue to invest regularly through periods of low price levels. Dollar-cost averaging can be an effective way to help meet your long-term goals. For specific features, contact your financial advisor.
You can ask us in writing to automatically rebalance the variable subaccount portion
of your contract value either quarterly, semiannually, or annually. The period you select will start to run on the date we record your request. On the first valuation date of each of these periods, we automatically will rebalance your contract value so that the value in
each subaccount matches your current subaccount percentage allocations. These percentage allocations must be in whole numbers. There is no charge for asset rebalancing. The contract value must be at least
$2,000.
You can change your percentage allocations or your rebalancing period at any time by contacting us in writing. We will
restart the rebalancing period you selected as of the date we record your change. You also can ask us in writing to stop rebalancing your contract value. You must allow 30 days for us to change any instructions that currently are in place. For
more information on asset rebalancing, contact your financial advisor.
Contracts issued with the SecureSource Tempo NY rider have different rebalancing rules. (See “Investment Allocation
Restrictions for Certain Benefit Riders – Investment Allocation Restrictions for the
SecureSource Tempo NY Rider – Rebalancing for Investment Path 2”)
The Income GuideSM Program
Income Guide is an optional service we currently offer without charge. It does not change or otherwise
modify any of the other benefits, features, charges, or terms and conditions associated with your annuity contract. The purpose of the program is to provide reporting and monitoring of withdrawals you take from your annuity. The reporting and monitoring
is designed to provide you information that may assist you in considering whether to adapt your withdrawals over time.
For the purpose of Income Guide
program, the term “systematic withdrawals” is the same as “automated systematic surrenders”.
34 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
The
assumptions we used in the program are not customized or individualized to your circumstances. Program participants and their unique individual circumstances
will vary from the program assumptions, creating differing results. The simulations we used in connection with the program do not include any contract or
underlying fund charge assumptions other than an assumed mortality and expense risk charge of 1.0%. Your contract value may be depleted prior to the end of the program. If you follow the program and make downward adjustments to your withdrawals to remain in the “On Track” status, the amount of your withdrawal can significantly decline over time.
Income Guide is a withdrawal monitoring service. The program establishes what we call a “Prudent
Income Amount” which is based on your contract value, age, and the other program assumptions described below. We calculate the Prudent Income Amount daily using the following factors:
(1)
the age of the participant, (the age of the younger participant under the Joint
Option);
(3)
Prudent Income Percentages.
The current Prudent Income Amount is determined by multiplying the current contract value by the current Prudent Income Percentage. The Prudent Income Amount is a hypothetical withdrawal amount with a minimum 85% probability that if
taken and no withdrawal adjustments are made, withdrawals at that amount would not deplete the contract value prior to age 95 (age 100 for joint), or 8 years if longer. Please
refer to the Prudent Income Amount section below for details on the assumptions we used to create the Prudent Income Percentages and the operation of the Prudent Income
Amount.
Income Guide compares the annual total of the monthly systematic withdrawals you have elected to the
current Prudent Income Amount we have calculated to determine your current status in the program. The current status provides you information on the current sustainability of your rate of withdrawal by comparing it to the Prudent Income Amount.
The program allows you to elect to have withdrawal income monitored based on one person (the “Single Option”) or two persons (the “Joint Option”). We refer to each person covered under Income Guide as a participant. Income Guide
is most effective when you use it in consultation with your financial advisor.
Income Guide is not a guaranteed income option and it is not backed by our general account. If you need income guaranteed for life
or another specified period of time, you should not rely on using Income Guide. For
guaranteed income options, consider a guaranteed lifetime withdrawal benefit such as our
SecureSource
series rider, annuitization options,
or other annuity contracts that provide guaranteed lifetime income riders or benefits.
Any withdrawals you make from your contract may result in surrender charges, taxes
and tax penalties. In addition, withdrawals may result in a proportional reduction to the standard death benefit and any optional death benefit you have elected.
As part of the Income Guide program, we provide you with information regarding your withdrawal amount, but we do not
determine whether to make adjustments to your withdrawal amount or investment allocation. You need to decide what changes or adjustments may be right for you, or whether to seek the assistance of a financial advisor in making any
decisions, based on the information provided and your given needs and circumstances.
Income Guide is only available if the servicing broker-dealer on your contract is Ameriprise Financial
Services, LLC (“AFS”) which is our affiliate and we only currently offer variable annuity contracts through AFS. We may modify or end the availability of Income
Guide at any time in our sole discretion. We will notify you 30 days in advance of any changes to Income Guide or if we end the program. Advance notice will not be given for any changes we decide to
make to the Prudent Income Percentages.
Income Guide is not available if your contract has a SecureSource series or Accumulation Protector Benefit riders.
In addition, in order to enroll in Income Guide, the following eligibility requirements must be met.
(1)
One of the Income Guide participants must be an owner or annuitant under the contract.
(2)
Your contract cannot be a beneficially owned IRA.
(3)
You cannot be withdrawing substantially equal periodic payments as defined in the Internal
Revenue Code. These payments are calculated in part using your life expectancy and place limits on the ability to increase withdrawals beyond a certain amount without incurring tax consequences.
(4)
If you have a
systematic withdrawal program established, you may not elect to set your withdrawal amount net of surrender charges and the frequency of withdrawal must be set at monthly. You cannot have more than one systematic withdrawal program
established at the same time.
(5)
Your contract cannot have any active or deemed loans on it.
(6)
Your contract must have an Ameriprise advisor registered with AFS assigned as the agent of
record on your contract.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 35
(7)
All participants
covered by the program must be at least age 50 and no older than age 85.
These eligibility requirements apply to any post-enrollment changes you may elect
to make, such as changing or adding participants.
Advance notice will not be given for the events listed below that automatically
terminate Income Guide.
(1)
You modify your systematic withdrawal program to a frequency other than monthly or you have
more than one systematic withdrawal program in effect.
(2)
You take a loan on
the contract.
(3)
On any contract anniversary where the participant (for joint, youngest participant) attained
the maximum age of 95 in the preceding contract year.
(4)
The death benefit
under the contract becomes payable.
(5)
You elect a systematic withdrawal program to take substantially equal periodic payments as
defined in the Internal Revenue Code. These payments are calculated in part using your life expectancy and place limits on the ability to increase withdrawals beyond a certain amount without incurring tax consequences.
(6)
AFS is no longer
the servicing broker-dealer on your contract.
(7)
Your contract terminates for any reason, including full surrender, the contract value reaches
zero, or when you annuitize your entire contract (this does not apply to partial annuitizations which are permitted while you participate in Income
Guide).
In the event of a change in ownership, systematic withdrawals are suspended,
but you would continue to be enrolled in the Income Guide.
Enrolling in the Income Guide Program
You may elect to enroll in the Income Guide program at any time as long as we continue to offer it and you meet the eligibility requirements of participation. At the time of your enrollment, you will be required to complete an Income Guide
Enrollment Form or verbally acknowledge your understanding of the program if we permit enrollment via telephone. In connection with enrollment, you will be asked whether you want
the Single Option or Joint Option. You also will be required to provide the birthdate and sex of each participant covered under Income Guide. We use the age
provided at enrollment to calculate the Prudent Income Amount.
If you are funding your contract through multiple sources that would involve making
more than one initial purchase payment, you should consider waiting to enroll in Income
Guide until your contract is fully funded. A large purchase payment not taken into account will result in a
lower initial Prudent Income Amount being calculated. If your systematic withdrawal amount is based on all intended payments, then the amount you are withdrawing will be higher
than the Prudent Income Amount that is calculated before we receive all intended purchase payments which may affect your Income Guide status.
After enrolling, we will permit you to modify the selected option (Single Option or Joint Option) or to change the
participants. Any changes are subject to the conditions stated in the Program Availability section above.
Withdrawal Monitoring and Reporting
Income Guide is designed to assist you and your financial advisor in managing the withdrawal of money out of your annuity contract
to provide income. To aid in managing your withdrawals, we currently provide periodic reports to you and your financial advisor. This includes a detailed annual report we provide
on each contract anniversary and a brief summary on the consolidated statements you receive either monthly or quarterly from AFS. These reports include an Income Guide status based on the Prudent Income Amount calculated on the date we produce the report.
The reporting and the status are designed to provide you information regarding the current sustainability of your current withdrawal amount by comparing it to the current Prudent Income Amount. We provide no other reporting, so you should review your
consolidated statement and annual report to see if your status under the program has changed. You also can review your current daily status by logging into your account on
ameriprise.com. We reserve the right to modify the reporting we provide under the program at any time and in our sole discretion.
The table below summarizes the definitions of each status under the program.
Income Guide Status Definitions |
| |
|
|
|
Prudent Income Amount is
more than 20% below your
current annual withdrawal
amount |
Prudent Income Amount is
from 10.1% to 20% below
your current annual
withdrawal amount |
Prudent Income Amount is
from 10% below up to
24.9% above your current
annual withdrawal amount |
Prudent Income Amount is more than 25% or more above your current annual withdrawal amount |
36 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
We use descriptive
terminology to describe each status. When you are in the On Track status we may refer to your withdrawal rate as “currently sustainable.” When you are in the Caution
status, we refer to your withdrawal rate as “near a point where it may not be sustainable.” When you are in the Attention Needed status, we refer to your withdrawal rate as “may not be sustainable.” Finally, if your current withdrawal amount places you in the “More Available” status, we refer to you as having “more options available” because the Prudent Income Amount is at least 25% higher than your current withdrawal amount. These statuses, including the accompanying explanations, are merely
descriptive and do not represent a specific level of actual sustainability or probability of your contract value not being depleted. Please note if you are in the “More Available” status and you utilize contract value for other purposes it may create adverse consequences in the future, including increasing the possibility and extent of future status changes and
the possibility of running out of money prior to the end of the program.
The following Income Guide statuses are used in our periodic reporting.
| |
|
| |
Based on your contract value, it is projected that your withdrawal
amount may not be sustainable. |
| |
Based on your contract value, it is projected that your withdrawal amount is near
a point where it may not be sustainable. |
| |
Based on your contract value, it is projected that your withdrawal amount is
currently sustainable. Please note that the minimum 85% probability
assumed in the program only applies to the Prudent Income Amount and
not to the “On Track” status which includes a range
above and below the current Prudent Income Amount. |
| |
Based on your contract value and withdrawal amount, it is projected there are more
options available. |
These statuses are not designed to be, nor should they be construed as, investment
advice. They are based on a comparison of your current annual withdrawal amount versus the current Prudent Income Amount. They also can aid you in tracking how close your current rate of withdrawal is to the Prudent Income Amount. In the end, your unique financial
situation and the advice of your financial advisor should be utilized in assessing your
Income Guide status and your utilization of the program as a whole. Please note, the longer you are in the Attention Needed status
without adjusting withdrawals the greater the likelihood that you will deplete your contract value.
If you enroll in Income Guide
without electing a systematic withdrawal, then no status will be reported, but you will be provided the Prudent Income Amount.
If you completely suspend your withdrawals, we will also no longer report a status. This, however, does not mean that
subsequently restarting withdrawals will result in a sustainable rate of withdrawal. When you restart your withdrawals, a current Prudent Income Amount will be compared to your current withdrawal amount to determine a current status. Also,
remember that a change in ownership will automatically suspend systematic withdrawals.
Income Guide does not take into account your unique financial situation, including how you allocate your contract value to available investment options and the allocation of your contract value to equities or fixed income instruments (e.g. bonds). Your investment returns, including the deduction of any fund fees and expenses, will differ from program assumptions. In addition, the fees and charges we assumed in calculating values under the program will differ from the actual fees and charges on your contract. This is due in part to the fact that we did not assume certain charges, including the contract administrative charge and optional benefit charges.
The methods, assumptions and simulations we used to develop the Prudent Income Percentages may not be appropriate or correct for a given contract owner. Individual results can vary widely and will impact the frequency of status changes and how often you may want to make adjustments to your withdrawals. You must decide whether to modify withdrawals or take any other action with respect to your contract based on the status we report, and whether to consult with your financial advisor.
The Prudent Income Amount
We use your current age, contract value, and Prudent Income Percentage to calculate your current Prudent Income Amount.
We may modify these factors used to calculate your Prudent Income Amount at any time and in our sole discretion. We, RiverSource Life Insurance Company, solely determined what
assumptions to use in deriving the Prudent Income Amount
Since the Prudent Income Amount is calculated daily and fluctuates
based on age and current contract value, the program does not guarantee or result in a steady stream of income or provide any type of guaranteed cash value or
guaranteed benefit.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 37
The Prudent Income
Percentages are derived from a series of random simulations based on the following assumptions:
•
an investment allocation of 50% in equities and 50% in fixed income instruments
(e.g.bonds);
•
average annual returns, after the deduction of all fund fees and expenses, of 9.0% on the
equity allocation and 2.0% on the fixed income instruments (e.g.bonds) allocation that grades upward to 4.0% over a twenty year period;
•
average portfolio volatility of 9.0%;
•
a 1.0% average annual mortality and expense risk fee being assessed; and
•
taking level withdrawals each month.
The average annual return assumptions of 9.0% for the equity allocation and the 2.0% - 4.0% for the fixed income instruments (e.g.bonds) allocation are net return assumptions. This means these return assumptions would be after the
deduction of all underlying fund fees and expenses. Contract charges other than the 1.0% mortality and expense risk fee, if they apply to you, were not included in the assumptions. This includes the contract administrative charge,
surrender charges, and charges associated with optional benefits available under the contract. The “Charges” section of the prospectus provides additional details on the amount and applicability of these charges.
Since these assumptions are not customized to you, your
circumstances will differ and the minimum 85% probability of withdrawals lasting for the duration of the program without the need to make any adjustments to the amount of withdrawals may be higher or lower than the probability used in developing the Prudent Income Percentages.
Your results under the program will vary. In general, if you have lower returns, higher volatility, higher fees, or you make additional withdrawals, then the probability of your withdrawal amount being sustainable will be lower than assumed
under the program. In contrast, if you have higher returns, lower volatility, lower fees, or make additional purchase payments, then the probability of your withdrawal amount being sustainable will generally be higher than assumed under
the program. In addition, if you experience long-term periods where your contract value is continually declining due to deviations from the assumptions mentioned above, you will need to repeatedly decrease the amount of your withdrawal to
stay in the “On Track” status. Also, while unlikely, your contract value may be depleted before age 95 even if you follow the program.
It is important to remember that only the age of the participant and the contract value are specific to your contract. All
of the factors used in determining the Prudent Income Percentages are general and not individualized or otherwise customized to you, your contract allocation, or any other circumstances specific to you.
The following factors related to your contract experience will
impact your Income Guide status and the probability of withdrawals (without adjusting under the program) lasting for the duration of the program:
(1)
the fees, average
annual total returns and volatility of the underlying funds you have elected;
(2)
the specific fees of your contract;
(3)
additional purchase payments to the contract;
(4)
withdrawals in addition to the monthly systematic withdrawal;
(5)
partial annuitizations; or
(6)
your actual life expectancy or retirement horizon.
The assumptions were utilized to run a series of random simulations. These simulations were used to establish the Prudent Income Percentages which are based on a level amount of income (without adjusting under the program) that
provides a minimum 85% or greater probability of contract value lasting to age 95 (age 100 for joint), or for 8 years, whichever is longer. As with any simulation, your actual experience will be different and our methodology could have an
error.
The Prudent Income Percentages change over time based on age. The table below shows
the current Prudent Income Percentages utilized. In the case of the Joint Option, the youngest participant’s age is used to determine the Prudent Income Percentages.
Prudent Income Percentages
38 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The Prudent Income Percentage is multiplied by the contract value to determine the current Prudent Income Amount. The Prudent Income Amount will change over time due to changes in the contract value and the age of the participants
covered under the program.
Although the Prudent Income Percentage increases with age, the Prudent Income Amount
may not increase over time because a decreasing contract value can more than offset any increase in the Prudent Income Percentage. An increase in the Prudent Income Percentage does not protect against inflation.
Refer to “Example of a Prudent Income Amount Calculation” below to see
how the Prudent Income Percentage is used to create a Prudent Income Amount.
By increasing with age, the Prudent Income Percentages result in
less contract value being required to be in the “On Track” status. As a result, the Prudent Income Amount is not designed to preserve the level of your contract
value. Following the monitoring program, however, including making adjustments to your rate of withdrawal over the life of the program, will increase the likelihood that your contract value will not be exhausted prior to the end of the program.
The assumptions used in determining values under Income Guide including investment and performance, are not tied in any way to your allocation of
contract value and its performance. Your actual contract results can vary significantly from the performance we assumed in calculating the Prudent Income
Amount.
The Prudent Income Amount is not a guarantee of present or future income and is not intended, nor should it be construed
as, any form of investment advice.
If your contract is funding an employer sponsored plan such as a retirement plan established under Section 403(b) or
401(a) of the Code, your ability to begin a systematic withdrawal or to change one may be subject to plan sponsor approval. To determine whether there are any plan based restrictions on Income Guide, contact your plan sponsor.
Example of a Prudent Income Amount Calculation
Below is an example of how Income Guide calculates the Prudent Income Amount and assigns the status of the sustainability of your withdrawals.
At the time of enrollment, assume the following:
(1)
you have elected the Single Option;
(3)
your monthly systematic withdrawal amount is $350.00 ($4,200.00 annually); and
(4)
your contract value is $100,000.00.
Using these assumptions when you enroll, to calculate the Prudent Income Amount, the contract value is multiplied by the Prudent Income Percentage, which is 4.5%.
$100,000.00 x 4.5% = $4,500.00
In this case, the Prudent Income Amount is about 7.1% above your annual withdrawal amount. This results in being
assigned a status of “On Track.”
Let’s assume six months after enrollment, you are still age 65 and your
contract value is now $95,000. When you multiply the current contract value by the Prudent Income Percentage you get the following Prudent Income Amount.
$95,000.00 x 4.5% = $4,275.00
In this case, the Prudent Income Amount is about 1.8% above your annual withdrawal
amount. This results in being assigned a status of “On Track.”
Let’s assume one year after enrollment, you are now age 66
and your contract value is now $82,000. When you multiply the current contract value by the Prudent Income Percentage you get the following Prudent Income Amount.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 39
$82,000.00
x 4.6% = $3,772.00
In this case, the Prudent Income Amount is about 10.2% below your annual withdrawal amount. This results in being
assigned a status of “Caution.”
Potential Benefits of the Income Guide Program
Income Guide can aid you in creating a non-guaranteed stream of income through systematic withdrawals
from your contract. This can be beneficial if your need for income is flexible and does not require the guarantees associated with either a guaranteed minimum withdrawal benefit rider or exercising your option to annuitize. Withdrawals in connection
with Income Guide
may be subject to surrender charges, taxes and tax penalties. In contrast, payments under a guaranteed minimum withdrawal benefit rider or annuitization are not subject to
surrender charges. In addition, if you use Income Guide and you have a non-qualified contract, you are not receiving any potential benefits of the exclusion ratio associated
with annuitization. The exclusion ratio allows you to spread the cost basis of your contract value over time, generally resulting in payments being partially income tax-free
while the exclusion ratio is in effect. In contrast, Income Guide systematically
withdraws contract value and for non-qualified contracts this results in taxable earnings being considered to be withdrawn first. A financial advisor can help you understand each
of the income options available to you.
In cases where your Income Guide status becomes “More Available” there may be opportunities to increase your
withdrawal rate, lock-in guaranteed income through partial annuitization, or use a portion of your contract value for other purposes. In consultation with your financial advisor, you can determine whether one or more of these options are right
for you. Please keep in mind increases in the amount you withdraw may be subject to additional surrender charges, taxes and tax penalties. In addition, withdrawals will reduce your contract value and will proportionally reduce your
standard death benefit and any optional death benefit you have elected. Increases in withdrawals can also have adverse future consequences, including increasing the possibility of future status changes and the possibility of running out of
money prior to the end of the program.
Potential Risks of the Income Guide Program
Income Guide, including the Prudent Income Amount, is not a guarantee of income. If your annuity
contract value is depleted your contract and any benefits associated with it, including
Income Guide, will end without value.
In instances where your contract enters the “Attention Needed” status, even if you take steps to address the status such as lowering withdrawals from your contract, it is possible depending on continued performance of your contract that
you could re-enter or remain in the status for an extended period of time. If you do not adjust your withdrawals when you are in the “Attention Needed” status, it
could substantially increase the likelihood your contact value will be depleted, especially if you remain in this status for an extended period of time without making any
adjustments.
Income Guide does not provide any additional waiver of any applicable surrender charge. This means in
cases where your contract is subject to a surrender charge, any amounts withdrawn in excess of the free amount will be assessed a surrender charge, including any instance where you are withdrawing at a level equal to the Prudent Income Amount. For
additional information on surrender charges, refer to the “Surrender Charge” subsection of the “Charges” section of this prospectus.
If your contract is issued on a qualified basis, you are subject to certain required
minimum distribution rules for federal tax purposes. These rules may require you to take withdrawals out of your annuity that exceed the Prudent Income Amount. If this occurs, taking the required withdrawals may increase the likelihood that you will deplete your annuity
contract over time.
Income Guide does not provide any additional waiver of any applicable surrender
charge. This means in cases where your contract is subject to a surrender charge, any amounts withdrawn in excess of the free amount will be assessed a surrender charge, including any instance where you are withdrawing at a level equal to the Prudent Income Amount. For
additional information on surrender charges, refer to the “Surrender Charge” subsection of the “Charges” section of this prospectus.
If your relationship with your advisor ends, you will no longer receive assistance
using the Income Guide service. If your contract continues to be serviced by AFS, but you have ended your relationship with the financial advisor with whom you
set up Income
Guide, Income
Guide will continue, and you should request AFS assign you another advisor to assist you with maximizing
the effectiveness of Income Guide. We cannot guarantee that AFS will assign you an
advisor that will assist you with Income Guide.
If you rely on Income Guide for managing your income needs and the service terminates, either because we choose to no longer offer it or a
circumstance arises where automatic termination occurs, you may be in a position where you cannot find a means to manage or monitor your income going forward. Remember, in any
instance where AFS is no longer the servicing broker-dealer of record for your contract,
Income Guide will automatically terminate.
40 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Transferring Among
Accounts
The transfer rights discussed in this section do not apply if you have selected one of the optional living benefit riders or the SecureSource Legacy benefit
rider. For transfer rights involving investment options under optional living benefit riders or the SecureSource Legacy benefit rider, please see “Investment Allocation Restrictions for Certain
Benefit Riders” section.
You may transfer contract value from any one subaccount or the regular fixed account,
if available, to another subaccount before the annuitization start date. Certain restrictions apply to
transfers involving the regular fixed account.You may not transfer contract value to the Special DCA fixed
account. You may not transfer contract value from the Special DCA fixed account except as part of automated monthly transfers.
The date your request to transfer will be processed depends on when and how we receive it:
For transfer requests received in writing:
•
If we receive your transfer request at our Service Center in good order before the close of the NYSE (4:00 pm Eastern
Time unless the NYSE closes earlier), we will process your transfer using the accumulation unit value we calculate on the valuation date we received your transfer request.
•
If we receive
your transfer request at our Service Center in good order at or after the close of the NYSE (4:00 pm Eastern Time unless the NYSE closes earlier), we will process your transfer
using the accumulation unit value we calculate on the next valuation date after we received your transfer request.
For transfer requests received by phone:
•
If we receive your transfer request at our Service Center in good order before the close of
the NYSE (4:00 pm Eastern Time unless the NYSE closes earlier), we will process your transfer using the accumulation unit value we calculate on the valuation date we received your transfer request.
•
If we receive
your transfer request at our Service Center in good order at or after the close of the NYSE (4:00 pm Eastern Time unless the NYSE closes earlier), we will process your transfer
using the accumulation unit value we calculate on the next valuation date after we received your transfer request.
If you were not able to complete your transaction before the close of business for any reason, including telephone service interruptions or delays due to high call volume, we will process your transaction using the accumulation unit
value we calculate on the next valuation date.
There is no charge for transfers. Before making a transfer, you should consider the
risks involved in changing investments.
For information on transfers after annuity payouts begin, see “Transfer
policies” below.
•
Before the annuitization start date, you may transfer contract values between the subaccounts or from the subaccounts to
the regular fixed account at any time. However, if you made a transfer from the regular fixed account to the subaccounts, took a partial surrender from the fixed account or
terminated automated transfers from the Special DCA fixed account prior to the end of the Special DCA fixed account term, you may not make a transfer from any subaccount back to the regular fixed account for six months following that transfer, partial surrender or
termination.
•
You may transfer contract values from the regular fixed account to the subaccounts once a
year on or within 30 days before or after the contract anniversary (except for automated transfers, which can be set up at any time for certain transfer periods subject to certain minimums). Currently, you may transfer the entire contract value to the regular
fixed account. We reserve the right to limit transfers to the regular fixed account with 30 days written notice, if the interest rate we are then currently crediting to the regular fixed account is equal to the minimum interest rate stated
in the contract. In addition, if we waive any restrictions on transfers to the regular fixed account, you will be notified in writing, signed by an officer of the company. Transfers out of the regular fixed account, including automated transfers,
are limited to 30% of regular fixed account value at the beginning of the contract year(1), or $10,000 whichever is greater. Because of this limitation, it may take you several years to transfer all your contract value from the regular
fixed account. You should carefully consider whether the regular fixed account meets your investment criteria before you invest. We reserve the right to change the percentage allowed to be transferred from the regular fixed account with
30 days written notice if the interest rate we are then currently crediting to the regular fixed account is equal to the minimum interest rate stated in the contract. In
addition, if we waive any restrictions on transfers from the regular fixed account, you will be notified in writing, signed by an officer of the company.
•
You may not transfer contract values from the subaccounts or the regular fixed account into the Special DCA fixed
account. However, you may transfer contract values as automated monthly transfers from the Special DCA fixed
account to the subaccounts. (See “Special DCA Fixed Account.”)
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 41
•
After the
annuitization start date, you may not make transfers to or from the fixed account, but you may make transfers once per contract year among the subaccounts. During the annuity
payout period, we reserve the right to limit the number of subaccounts in which you may invest. On the annuitization start date, you must transfer all contract value out of the Special DCA fixed account.
(1)
All purchase payments received into the regular fixed account prior to your transfer request are considered your beginning of contract year value during the first contract year.
Market timing can reduce the value of your investment in the contract. If
market timing causes the returns of an underlying fund to suffer, contract value you have allocated to a Subaccount that invests in that underlying fund will be lower too. Market timing can cause you, any joint owner of the contract and your beneficiary(ies) under the contract a
financial loss.
We seek to prevent market timing. Market timing is frequent or
short-term trading activity. We do not accommodate short-term trading activities. Do not buy a contract if you wish to use short-term trading strategies to
manage your investment. The market timing policies and procedures described below apply to transfers among the Subaccounts within the contract. The underlying funds in which the Subaccounts invest have their own market timing policies and procedures. The market timing policies of the underlying funds may be more restrictive than the market timing policies and procedures we apply to transfers among the Subaccounts of the contract, and may include redemption fees. We reserve the right to modify our market timing policies and procedures at any time without prior notice to you.
Market timing may hurt the performance of an underlying fund in which a Subaccount
invests in several ways, including but not necessarily limited to:
•
diluting the value of an investment in an underlying fund in which a Subaccount
invests;
•
increasing the transaction costs and expenses of an underlying fund in which a Subaccount
invests; and
•
preventing the investment adviser(s) of an underlying fund in which a Subaccount invests from
fully investing the assets of the Fund in accordance with the Fund’s investment objectives.
Funds available as investment options under the contract that invest in securities that trade in overseas securities markets may be at greater risk of loss from market timing, as market timers may seek to take advantage of changes in the
values of securities between the close of overseas markets and the close of U.S. markets. Also, the risks of market timing may be greater for underlying funds that invest in
securities such as small cap stocks, high yield bonds, or municipal securities, that may be traded infrequently.
In order to help protect you and the underlying funds from the potentially harmful effects of market timing activity, we apply the following market timing policy to discourage frequent transfers of contract value among the Subaccounts of the Variable Account:
We try to distinguish market timing from transfers that we believe are not harmful,
such as periodic rebalancing for purposes of an asset allocation, dollar-cost averaging and asset rebalancing program that may be described in this prospectus. There is no set number of transfers that constitutes market timing. Even one transfer in related accounts
may be market timing. We seek to restrict the transfer privileges of a contract owner who makes more than three Subaccount transfers in any 90 day period. We also reserve the right to refuse any transfer request, if, in our sole
judgment, the dollar amount of the transfer request would adversely affect unit
values.
If we determine, in our sole judgment, that your transfer activity constitutes market timing, we may modify, restrict or
suspend your transfer privileges to the extent permitted by applicable law, which may vary based on the state law that applies to your contract and the terms of your contract. These restrictions or modifications may include, but not be
limited to:
•
requiring transfer requests to be submitted only by first-class U.S. mail;
•
not accepting hand-delivered transfer requests or requests made by overnight mail;
•
not accepting
telephone or electronic transfer requests;
•
requiring a minimum time period between each transfer;
•
not accepting transfer requests of an agent acting under power of attorney;
•
limiting the
dollar amount that you may transfer at any one time;
•
suspending the transfer privilege; or
•
modifying instructions under an automated transfer program to exclude a restricted fund if you do not provide new
instructions.
42 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
Subject to applicable state
law and the terms of each contract, we will apply the policy described above to all contract owners uniformly in all cases. We will notify you in writing after we impose any
modification, restriction or suspension of your transfer rights.
Because we exercise discretion in applying the restrictions described above, we
cannot guarantee that we will be able to identify and restrict all market timing activity. In addition, state law and the terms of some contracts may prevent us from stopping certain market timing activity. Market timing activity that we are unable to identify and/or restrict may
impact the performance of the underlying funds and may result in lower contract
values.
In addition to the market timing policy described above, which applies to transfers among the Subaccounts within your contract, you should carefully review the market timing policies and procedures of the underlying funds. The market timing policies and procedures of the underlying funds may be materially different than those we impose on transfers among the Subaccounts within your contract and may include mandatory redemption fees as well as other measures to discourage frequent transfers. As an intermediary for the underlying funds, we are required to assist them in applying their market timing policies and procedures to transactions involving the purchase and exchange of Fund shares. This assistance may include but not be limited to providing the underlying fund upon request with your Social Security Number, Taxpayer Identification Number or other United States government-issued identifier and the details of your contract transactions involving the underlying fund. An underlying fund, in its sole discretion, may instruct us at any time to prohibit you from making further transfers of contract value to or from the underlying fund, and we must follow this instruction. We reserve the right to administer and collect on behalf of an underlying fund any redemption fee imposed by an underlying fund. Market timing policies and procedures adopted by underlying funds may affect your investment in the contract in several ways, including but not limited to:
•
Each Fund may restrict or refuse trading activity that the Fund determines, in its sole discretion, represents market
timing.
•
Even if we determine that your transfer activity does not constitute market timing under the
market timing policies described above which we apply to transfers you make under the contract, it is possible that the underlying fund’s market timing policies and procedures, including instructions we receive from a Fund, may require us to reject your
transfer request. For example, we will attempt to execute transfers permitted under any asset allocation, dollar-cost averaging and asset rebalancing programs that may be described in this prospectus, we cannot guarantee that an
underlying fund’s market timing policies and procedures will do so. Orders we place to purchase Fund shares for the Variable Accounts are subject to acceptance by the Fund. We reserve the right to reject without prior notice to you any
transfer request if the Fund does not accept our order.
•
Each
underlying fund is responsible for its own market timing policies, and we cannot guarantee that we will be able to implement specific market timing policies and procedures that a
Fund has adopted. As a result, a Fund’s returns might be adversely affected, and a Fund might terminate our right to offer its shares through the Variable Account.
•
Funds that are available as investment options under the contract may also be offered to other intermediaries who are
eligible to purchase and hold shares of the Fund, including without limitation, separate accounts of other insurance companies and certain retirement plans. Even if we are able
to implement a Fund’s market timing policies, we cannot guarantee that other intermediaries purchasing that same Fund’s shares will do so, and the returns of that
Fund could be adversely affected as a result.
For more
information about the market timing policies and procedures of an underlying fund, the risks that market timing pose to that Fund, and to determine whether an
underlying fund has adopted a redemption fee, see that Fund’s prospectus.
How to Request a Transfer or Surrender
1 By automated transfers and automated partial surrenders
Your financial advisor can help you set up automated transfers among your
subaccounts or regular fixed account or automated partial surrenders from the regular fixed account, Special DCA fixed account or the subaccounts.
You can start or stop this service by written request or other method acceptable to
us. You must allow 30 days for us to change any instructions that are currently in place.
•
Automated transfers from the regular fixed account are limited to 30% of the regular fixed account value at the
beginning of the contract year or $10,000, whichever is greater.
•
Automated
surrenders may be restricted by applicable law under some contracts.
•
You may not make additional systematic payments if automated partial surrenders are in
effect.
•
If you have the SecureSource Legacy benefit rider, a SecureSource series rider or
APB rider, you are not allowed to set up automated transfers except in connection with a Special DCA fixed account (see “Special DCA Fixed Account” and “Investment Allocation Restrictions for Certain Benefit Riders”).
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 43
•
Automated
partial surrenders may result in income taxes and penalties on all or part of the amount surrendered.
•
The balance in
any account from which you make an automated transfer or automated partial surrender must be sufficient to satisfy your instructions. If not, we will suspend your entire
automated arrangement until the balance is adequate.
•
If you have a
SecureSource
series rider, you may set up automated partial surrenders up to the benefit available for withdrawal under the rider.
| |
|
| |
None (except for automated transfers from the regular fixed account) |
| |
|
| |
$250 or entire account balance |
| |
|
| |
Contract value or entire account balance |
| |
|
We answer telephone requests promptly, but you may experience delays when the call volume is unusually high. If you are
unable to get through, use the mail procedure as an alternative.
We will honor any telephone transfer or surrender requests that we believe are authentic and we will use reasonable procedures to confirm that they are. This includes asking identifying questions and recording calls. As long as we follow
the procedures, we (and our affiliates) will not be liable for any loss resulting from fraudulent requests.
Telephone transfers or surrenders are automatically available. You may request that telephone transfers or surrenders
not be authorized from your account by writing to us.
Send your name, contract number, Social Security Number or Taxpayer Identification Number* and signed request for a
transfer or surrender to:
RiverSource Life Insurance Co. of New York
70500 Ameriprise Financial Center
Minneapolis, MN 55474
| |
|
| |
$250 or entire account balance |
| |
|
| |
Contract value or entire account balance |
*
Failure to provide your Social Security Number or Taxpayer Identification Number may result
in mandatory tax withholding on the taxable portion of the distribution.
You may surrender all or part of your contract at any time before the annuitization start date by sending us a written
request or calling us.
The date your surrender request will be processed depends on when and how we receive
it:
For surrender requests received in writing:
•
If we receive your surrender request at our Service Center in good order before the close of
the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your surrender using the accumulation unit value we calculate on the valuation date we received your surrender request.
44 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
•
If we receive
your surrender request at our Service Center in good order at or after the close of the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your surrender
using the accumulation unit value we calculate on the next valuation date after we received your surrender request.
For surrender requests received by phone:
•
If we receive your surrender request at our Service Center in good order before the close of
the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your surrender using the accumulation unit value we calculate on the valuation date we received your surrender request.
•
If we receive
your surrender request at our Service Center in good order at or after the close of the NYSE (4:00 pm Eastern time unless the NYSE closes earlier), we will process your surrender
using the accumulation unit value we calculate on the next valuation date after we received your surrender request.
We may ask you to return the contract. You may have to pay a contract administrative charge, surrender charges, or any applicable optional rider charges (see “Charges”) and federal income taxes and penalties. State and local income taxes may also apply. (see “Taxes”) You cannot make surrenders after the annuitization start date except if you
elect an annuity payout plan with guaranteed payouts.
Any partial surrender you take under the contract will reduce your contract value. As
a result, the value of your death benefit or any optional benefits you have elected also will be reduced. If you have elected the SecureSource series rider
and your partial surrenders in any contract year exceed the permitted surrender amount under the terms of the rider, your benefits under the rider will be reduced (see “Optional Benefits — Optional Living Benefits”). Any partial surrender request that exceeds the amount allowed under the SecureSource series riders will impact the guarantees provided and will not be considered in good order until we receive a signed Benefit Impact Acknowledgement form showing the projected
effect of the surrender on the rider benefits or a verbal acknowledgement that you understand and accept the impacts that have been explained to you.
In addition, surrenders you are required to take to satisfy the RMDs under the Code may reduce the value of certain
death benefits and optional benefits (see “Taxes — Qualified Annuities — Required Minimum Distributions”).
If you have a balance in more than one account and you request a partial surrender,
we will automatically surrender money from all your subaccounts , Special DCA fixed
account and/or the regular fixed account in the same proportion as your value in each account
correlates to your total contract value, unless requested otherwise. If your contract includes a SecureSource series rider, you do not have the option to request from which account to surrender. The
minimum contract value after a partial surrender is $500 (for contracts with a
SecureSource series rider, there is no minimum).
•
request that payment be sent electronically to your bank;
•
pre-authorization required.
2 By regular or express mail
•
mailed to address of record.
NOTE: We will charge you a fee if you request express mail delivery.
We may choose to permit you to have checks issued and delivered to an alternate payee or to an address other than your
address of record. We may also choose to allow you to direct wires or other electronic payments to accounts owned by a third-party. We may have additional good order requirements
that must be met prior to processing requests to make any payments to a party other than the owner or to an address other than the address of record. These requirements will be designed to ensure owner instructions are genuine and to prevent fraud.
Normally, we will send the payment within seven days after
receiving your request in good order. However, we may postpone the payment if:
–
the NYSE is
closed, except for normal holiday and weekend closings;
–
trading on the NYSE is restricted, according to SEC rules;
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 45
–
an emergency,
as defined by SEC rules, makes it impractical to sell securities or value the net assets of the accounts; or
–
the SEC permits us to delay payment for the protection of security holders.
We may also postpone payment of the amount attributable to a purchase payment as part of the total surrender amount until cleared from the originating financial institution.
Participants in Tax-Sheltered Annuities
If the contract is intended to be used in connection with an employer sponsored
403(b) plan, additional rules relating to this contract can be found in the annuity endorsement for tax sheltered 403(b) annuities. Unless we have made special arrangements with your employer, the contract is not intended for use in connection with an employer sponsored 403(b)
plan that is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In the event that the employer either by affirmative election or
inadvertent action causes contributions under a plan that is subject to ERISA to be made to this contract, we will not be responsible for any obligations and requirements under
ERISA and the regulations thereunder, unless we have prior written agreement with the employer. You should consult with your employer to determine whether your 403(b) plan is subject to ERISA.
In the event we have a written agreement with your employer to administer the plan
pursuant to ERISA, special rules apply as set forth in the TSA endorsement.
The employer must comply with certain nondiscrimination
requirements for certain types of contributions under a TSA contract to be excluded from taxable income. You should consult your employer to determine whether the nondiscrimination rules apply to you.
The Code imposes certain restrictions on your right to receive early distributions
from a TSA:
•
Distributions attributable to salary reduction contributions (plus earnings) made after Dec. 31, 1988, or to transfers
or rollovers from other contracts, may be made from the TSA only if:
–
you are at
least age 59½;
–
you are disabled as defined in the Code;
–
you severed employment with the employer who purchased the contract;
–
the distribution is because of your death;
–
the distribution is due to plan termination;
–
you are a qualifying military reservist;
–
you are terminally ill as defined in the Code;
–
you are adopting or are having a baby;
–
you are supplying Personal or Family Emergency Expense;
–
you are a Domestic Abuse Victim: or
–
you are in need to cover Expenses and losses on account of a FEMA declared disaster.
•
If you encounter a financial hardship (as provided by the Code), you may be eligible to receive a distribution of all
contract values attributable to salary reduction contributions made after Dec. 31, 1988, but not the earnings on them.
•
Even though a distribution may be permitted under the above rules, it may be subject to IRS
taxes and penalties (see “Taxes”).
•
The above
restrictions on distributions do not affect the availability of the amount credited to the contract as of Dec. 31, 1988. The restrictions also do not apply to transfers or
exchanges of contract value within the contract, or to another registered variable annuity contract or investment vehicle available through the employer.
•
If the contract has a loan provision, the right to receive a loan is described in detail in your contract. Loans will
not be available if you have a SecureSource series rider, APB rider or SecureSource Legacy benefit rider.
If you have a nonqualified annuity and are a natural person (excluding a revocable
trust), you may change the annuitant or contingent annuitant if the request is made prior to the annuitization start date and while the existing annuitant or contingent annuitant is living. The change will become binding on us when we receive it. If you and the annuitant are not
the same person and the annuitant dies before the annuitization start date, the owner becomes the annuitant unless a contingent annuitant has been previously selected. You may not change the annuitant if you have a qualified annuity or
there is non-natural or revocable trust ownership. Joint annuitants are not allowed for contracts with a SecureSource
46 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
series Single Life rider.
If you have the SecureSource Legacy benefit rider and a SecureSource series rider, you may not change the annuitant while this rider is in force (Joint Life:unless a Covered Spouse becomes the owner and annuitant under the spousal continuation provision).
You may change ownership of your nonqualified annuity at any time by completing a change of ownership form we approve
and sending it to our Service Center. We will honor any change of ownership request received in good order that we believe is authentic and we will use reasonable procedures to
confirm authenticity. If we follow these procedures, we will not take any responsibility for the validity of the change.
If you have a nonqualified annuity, you may incur income tax liability by transferring, assigning or pledging any part of it. (See “Taxes.”)
If you have a qualified annuity, you may not sell, assign, transfer, discount or
pledge your contract as collateral for a loan, or as security for the performance of an obligation or for any other purpose except as required or permitted by the Code. However, if the owner is a trust or custodian, or an employer acting in a similar capacity, ownership of the
contract may be transferred to the annuitant.
Please consider carefully whether or not you wish to change ownership of your annuity
contract. If you elected any optional contract features or riders any owner was not an owner before the change, all owners (including any prior owner who is still an owner after the ownership change) will be subject to all limitations and/or restrictions of those features or riders just as if they were purchasing a new contract. For ownership changes prior to 5/1/2020, our administrative
process required only the new owner to meet the age limitations.
The death benefit may change due to a change of ownership.
•
If you elected the ROPP Death Benefit and if any owner is older than age 79 immediately following the ownership change,
the ROPP Death Benefit will continue. If all owners are age 79 or younger, the ROPP Death Benefit will terminate and the Standard Death Benefit will apply.
•
If you elected the 5-Year MAV Death Benefit and if any owner is older than age 75 immediately following the ownership
change, this rider will terminate and the Standard Death Benefit will apply. If all owners are age 75 or younger, the 5-Year MAV Death Benefit will continue.
•
If you elected the MAV Death Benefit and if any owner is older than age 79 immediately following the ownership change,
this rider will terminate and the Standard Death Benefit will apply. If all owners are age 79 or younger, the MAV Death Benefit will continue.
•
The ROPP Death Benefit, MAV Death Benefit and 5-Year MAV Death Benefit values may be reset (see “Benefits in the
Case of Death”).
•
If the death
benefit that applies to your contract changes due to an ownership change, the mortality and expense risk fee may change as well (see “Charges — Mortality and Expense
Risk Fee”).
For a SecureSource series – Single Life rider, an ownership change will not change the Covered
Person under the rider.
For a SecureSource series
– Joint Life rider, if selected, transfer of the ownership of the annuity contract will not change the Covered Spouses under the rider. If ownership is transferred from a
Covered Spouse to their revocable trust(s), the annuitant must be one of the Covered Spouses. (See “Optional Benefits — Optional Living Benefits.”)
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 47
Benefits Available Under the Contract
The
following table summarizes information about the benefits available under the Contract.
| |
|
|
|
Brief Description of Restrictions/
Limitations |
Standard Benefits (no additional charge) |
| |
Allows the systematic
transfer of a specified
dollar amount among
the subaccounts or
from the regular fixed account to one or more
eligible subaccounts |
|
|
•Transfers not available to the regular fixed account
•Transfers out of the regular fixed account, including automated transfers, are limited to 30% of regular fixed account value at the beginning of the contract year or $10,000, whichever is greater •Not available with a living benefit |
Special Dollar
Cost Averaging
(SDCA) |
Allows the systematic
transfer from the
Special DCA fixed account to one or more
eligible subaccounts |
|
|
•Must be funded with a purchase payment, not transferred contract
value
•Only 6-month and 12-month options are available •Transfers occur on a monthly basis
and the first monthly transfer
occurs one day after we receive
your purchase payment
•You may not use the regular fixed account as a destination for the Special DCA monthly transfer |
| |
Allows you to have your
investments
periodically rebalanced
among the
subaccounts to your
pre-selected
percentages |
|
|
•You must have $2,000 in Contract
Value to participate. •We require 30 days notice for you to
change or cancel the program
•You can request rebalancing to be done either quarterly, semiannually or annually •Other restrictions may apply for
contracts with the SecureSource Tempo NY rider |
| |
Provides withdrawal
monitoring and
reporting to help you
monitor your
withdrawals with the
goal of taking
withdrawals over your
lifetime |
|
|
•Contract owners must be at least age 50 and no older than age 85 •Available only if the servicing
broker-dealer on your contract is
Ameriprise Financial Services, LLC
•Not available with a living benefit •Not available if you are making
substantially equal withdrawals
•Not available if you have more than one systematic withdrawal program in place •Systematic withdrawals must be set
up according to the all the terms of
Income Guide
•Your contract cannot have any loans |
| |
Allows automated
partial surrenders from |
|
|
•Additional systematic payments are
not allowed with automated partial |
48 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
| |
|
|
|
Brief Description of Restrictions/
Limitations |
Surrenders/
Systematic
Withdrawals |
|
|
|
surrenders
•For contracts with a SecureSource series rider you may set up automated partial surrenders up to the benefit available for withdrawals under the rider •May result in income taxes and IRS
penalty on all or a portion of the
amounts surrendered |
Nursing Home or
Hospital
Confinement |
Allows you to withdraw
contract value without
a surrender charge |
|
|
•You must be confined to a hospital or nursing home for the prior 60 days or confinement began within 30 days following a 60 day confinement period •You must be under age 76 on the
contract issue date and
confinement must start after the
contract issue date
•Must receive your surrender request no later than 91 days after your release from the hospital or nursing home •Amount withdrawn must be paid
directly to you |
| |
Allows you to withdraw
contract value without
a surrender charge |
|
|
•Terminal Illness diagnosis must occur after the first contract year •Must be terminally ill and not
expected to live more than 12
months; a licensed physician
certifies to your illness, life
expectancy and the date the
terminal illness was initially
diagnosed
•Amount withdrawn must be paid directly to you |
Standard Death
Benefit
(available for
contract owners
age 79 and
younger) |
Provides a guaranteed
death benefit equal to
the greater of the
Return of Purchase
Payment Value (ROPP)
or Contract Value after
any rider charges have
been deducted |
|
|
•Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals, and such reductions could be significant •Annuitizing the Contract terminates
the benefit. |
Standard Death
Benefit
(available if any
contract owner
is age 80 and
older) |
Provides a minimum
death benefit equal to
the
Contract Value after any rider charges have been deducted |
|
|
•Annuitizing the Contract terminates the benefit |
| |
Provides a guaranteed
death benefit equal to
the greater of the
Return of Purchase
Payment Value (ROPP) |
0.35% of
average daily
contract value
in the variable
account |
|
•Available if any owner is age 80 and
older
•Must be elected at contract issue •Not available with any
SecureSource series rider |
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 49
| |
|
|
|
Brief Description of Restrictions/
Limitations |
| |
or Contract Value after
any rider charges have
been deducted |
|
|
•Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals, and such reductions could be significant •Annuitizing the Contract terminates
the benefit |
| |
Increases the
guaranteed death
benefit to the highest
anniversary contract
value, adjusted for any
partial surrenders |
0.25% of
average daily
contract value
in the variable
account |
|
•Available to owners age 79 and younger •Must be elected at contract issue
•Not available with any SecureSource series rider
•No longer eligible to increase on any contract anniversary on/after your 81st birthday. •Withdrawals will proportionately
reduce the benefit, which means
your benefit could be reduced by
more than the dollar amount of your
withdrawals. Such reductions could
be significant.
•Annuitizing the Contract terminates the benefit |
| |
Increases the
guaranteed death
benefit to the highest
5th anniversary
contract value,
adjusted for any partial
surrenders |
0.10% of
average daily
contract value
in the variable
account |
|
•Available to owners age 75 and younger •Must be elected at contract issue
•No longer eligible to increase on any contract anniversary on/after your 81st birthday •Withdrawals will proportionately
reduce the benefit, which means
your benefit could be reduced by
more than the dollar amount of your
withdrawals. Such reductions could
be significant
•Annuitizing the Contract terminates the benefit |
SecureSource
LegacySM
Benefit |
For contracts with one
of the SecureSource series riders increases
the guaranteed death
benefit to the highest
anniversary contract
value, adjusted for any
partial surrenders. |
On or after
5/4/2020:
0.50%
Prior to
5/4/2020:
0.40% of
contract value or SecureSource
Legacy Death
Benefit
amount,
whichever is
greater |
On or after
5/4/2020:
0.35%
Prior to
5/4/2020:
0.25% |
•Must be elected at contract issue •Available only when purchased with
the one of SecureSource series
riders
•Subject to Investment Allocation restrictions •Withdrawals will proportionately
reduce the benefit, which means
your benefit could be reduced by
more than the dollar amount of your
withdrawals. Such reductions could
be significant
•Annuitizing the Contract terminates the benefit |
| |
|
|
|
•Available to owners age 85 or |
50 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
| |
|
|
|
Brief Description of Restrictions/
Limitations |
| |
income regardless of
investment
performance |
contract value or the Benefit Base, whichever is greater |
the Rate Sheet
Prospectus
Supplement
along with
other benefit
information |
younger
•Must be elected at contract issue •Available as a Single Life or Joint
Life option
•Not available under an inherited qualified annuity •Subject to Investment Allocation
restrictions
•Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract
value goes to zero due to an excess withdrawal •May have limitations on additional
purchase payments |
| |
Provides lifetime
income regardless of
investment
performance |
2.50% of
contract value or the Benefit Base, whichever is greater |
Disclosed in
the Rate Sheet
prospectus
Supplement
along with
other benefit
information |
•Available to owners age 85 or younger •Must be elected at contract issue
•Available as a Single Life or Joint Life option •Not available under an inherited
qualified annuity
•Subject to Investment Allocation restrictions •Certain withdrawals could
significantly reduce the guaranteed
amounts under the rider and the
rider will terminate if the contract value goes to zero due to an excess
withdrawal
•May have limitations on additional purchase payments |
| |
Provides lifetime
income regardless of
investment
performance |
2.50% of
contract value or the Benefit Base, whichever is greater |
Disclosed in
the Rate Sheet
Prospectus
Supplement
along with
other benefit
information |
•Available to owners age 85 or younger •Must be elected at contract issue
•Available as a Single Life or Joint Life option •Not available under an inherited
qualified annuity
•Subject to Investment Allocation restrictions •Certain withdrawals could
significantly reduce the guaranteed
amounts under the rider and the
rider will terminate if the contract value goes to zero due to an excess
withdrawal
•May have limitations on additional purchase payments |
| |
Provides lifetime
income regardless of
investment |
2.50% of
contract value or the Benefit |
Disclosed in
the Rate Sheet
Prospectus |
•Available to owners age 85 or
younger |
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 51
| |
|
|
|
Brief Description of Restrictions/
Limitations |
| |
|
Base,
whichever is
greater |
Supplement
along with
other benefit
information |
•Must be elected at contract issue •Available as a Single Life or Joint
Life option
•Not available under an inherited qualified annuity •Subject to Investment Allocation
restrictions
•Certain withdrawals could significantly reduce the guaranteed amounts under the rider and the rider will terminate if the contract
value goes to zero due to an excess withdrawal •May have limitations on additional
purchase payments |
| |
Provides lifetime
minimum withdrawal
benefit regardless of
investment
performance |
2.25% of
contract value or the Benefit Base, whichever is greater |
Disclosed in
the Rate Sheet
Prospectus
Supplement
along with
other benefit
information |
•Available to owners age 85 or younger •Must be elected at contract issue
•Available as a Single Life or Joint Life option •Not available under an inherited
qualified annuity
•Subject to Investment Allocation restrictions •Certain withdrawals could
significantly reduce the guaranteed
amounts under the rider and the
rider will terminate if the contract value goes to zero due to an excess
withdrawal
•Limitations on additional purchase payments |
SecureSource
Core PlusSM NY |
Provides lifetime
minimum withdrawal
benefit regardless of
investment
performance |
2.75% of
contract value or the Benefit Base, whichever is greater |
Disclosed in
the Rate Sheet
Prospectus
Supplement
along with
other benefit
information |
•Available to owners age 85 or younger •Must be elected at contract issue
•Available as a Single Life or Joint Life option •Not available under an inherited
qualified annuity
•Subject to Investment Allocation restrictions •Certain withdrawals could
significantly reduce the guaranteed
amounts under the rider and the
rider will terminate if the contract value goes to zero due to an excess
withdrawal
•Limitations on additional purchase payments |
| |
Provides lifetime
minimum withdrawal
benefit regardless of
investment |
2.25% of
contract value or the Benefit Base, |
Disclosed in
the Rate Sheet
Prospectus
Supplement |
•Available to owners age 85 or
younger
•Must be elected at contract issue |
52 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
| |
|
|
|
Brief Description of Restrictions/
Limitations |
| |
|
|
along with
other benefit
information |
•Available as a Single Life or Joint Life option •Not available under an inherited
qualified annuity
•Subject to Investment Allocation restrictions •Certain withdrawals could
significantly reduce the guaranteed
amounts under the rider and the
rider will terminate if the contract value goes to zero due to an excess
withdrawal
•Limitations on additional purchase payments |
| |
Provides lifetime
minimum withdrawal
benefit regardless of
investment
performance |
2.25% of
contract value or the Benefit Base, whichever is greater |
Disclosed in
the Rate Sheet
Prospectus
Supplement
along with
other benefit
information |
•Available to owners age 85 or younger •Must be elected at contract issue
•Available as a Single Life or Joint Life option •Not available under an inherited
qualified annuity
•Subject to Investment Allocation restrictions •Certain withdrawals could
significantly reduce the guaranteed
amounts under the rider and the
rider will terminate if the contract value goes to zero due to an excess
withdrawal
•Limitations on additional purchase payments |
| |
Provides 100% of
initial investment or
90% of highest
contract anniversary
value (adjusted for
partial surrenders) at
the end of 10 year
waiting period,
regardless of
investment
performance |
2.00% of
contract value or the Minimum Contract Accumulation Value, whichever is greater |
1.30% Varies
by issue date
and elective
step up date |
•Available to owners age 80 or
younger
•Must be elected at contract issue •Not available with SecureSource
series riders or SecureSource
Legacy benefit rider
•Withdrawals will proportionately reduce the benefit, which means your benefit could be reduced by more than the dollar amount of your withdrawals. Such reductions could be significant •The rider ends when the Waiting
Period expires
•Limitations on additional purchase payments •Subject to Investment Allocation
restrictions
•Step ups restart the Waiting Period |
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 53
Benefits in Case of Death — Standard
Death Benefit
We will pay the death benefit to your beneficiary upon your death if you die before the annuitization start date with the
contract value greater than zero. If a contract has more than one person as the owner, we will pay benefits upon the first to die of any owner.
If you are age 79 or younger on the date we issue the contract or the date of the
most recent covered life change, the beneficiary receives the greater of:
•
the contract value after any rider charges have been deducted; or
•
the Return of Purchase Payments (ROPP) value.
If you are age 80 or older on the date we issue the contract or the date of the most recent covered life change, the beneficiary receives the contract value after any rider charges have been deducted.
Here are some terms that are used to describe the Standard Death Benefit and optional death benefits:
ROPP Value: is the total purchase payments on the contract issue date. Additional purchase payments
will be added to the ROPP value. Adjusted partial surrenders will be subtracted from the ROPP value.
Adjusted partial surrenders |
|
|
| |
| |
|
the amount by which the contract value is reduced as a result of the partial surrender. |
| |
|
the applicable ROPP value, MAV value or 5-year MAV value on the date of (but prior to) the partial surrender. |
| |
|
the contract value on the date of (but prior to) the partial surrender. |
If you take a partial surrender, the applicable ROPP, MAV, or 5-year MAV value will be
reduced proportionally based on the percentage of contract value that is withdrawn. This means that if the contract value is higher than the ROPP, MAV, or 5-year MAV value at the time of a partial surrender, then the ROPP, MAV, or 5-year MAV Value is reduced by an amount
that is less than the dollar amount withdrawn. Conversely, if the contract value is lower than the ROPP, MAV, or 5-year MAV value at the time of a partial surrender, then the
ROPP, MAV, or 5-year MAV value is reduced by an amount that is more than the dollar amount withdrawn.
Covered Life Change: is either continuation of the contract by a spouse under the spousal continuation
provision, or an ownership change where any owner after the ownership change was not an owner prior to the change.
For a spouse who continues the contract and is age 79 or younger, we set the ROPP value to the contract value on the
date of the continuation after any rider charges have been deducted and after any increase to the contract value due to the death benefit that would otherwise have been paid.
After a covered life change other than for the spouse who continues the contract, if the prior owner and all current
owners are eligible for the ROPP Death Benefit, we reset the ROPP value on the valuation date we receive your written request for the ownership change to the contract value after any rider charges have been deducted, if the contract value is less. If the prior owner was not eligible for the ROPP Death Benefit, but the new owner is
eligible, we reset the ROPP value to the contract value after any rider charges have been deducted on the valuation date we receive your request for the ownership change.
Example of standard death benefit calculation when you are age 79 or younger on the contract effective date:
•
You purchase the contract with a payment of $20,000.
•
During the second contract year the contract value falls to $18,000, at which point you take a $1,500 partial surrender,
leaving a contract value of $16,500.
We calculate the death benefit as follows: |
|
|
| |
The total purchase payments minus adjustments for partial surrenders: |
|
|
| |
Total purchase payments minus adjusted partial surrenders, calculated as: |
|
|
| |
|
|
|
|
| |
|
|
|
| |
for a standard death benefit of: |
|
|
| |
since this is greater than your contract value of $16,500 |
|
|
54 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
If You Die Before the
Annuitization Start Date
When paying the beneficiary, we will process the death claim on the valuation date our death claim requirements are
fulfilled. We will determine the contract’s value using the accumulation unit value we calculate on that valuation date. We pay interest, if any, at a rate no less than required by law. We will mail payment to the beneficiary within seven days
after our death claim requirements are fulfilled. Death claim requirements generally include due proof of death and will be detailed in the claim materials we send upon
notification of death.
When paying multiple beneficiaries, we will process the death claim of each beneficiary on the valuation date when a
beneficiary provides us with complete death claim requirements. We will determine a beneficiary's proceeds using the accumulation unit value we calculate on that valuation date. The remaining contract value remains invested as was
specified at time of death. We pay interest, if any, at a rate no less than required by law. We will mail payment to a beneficiary within seven days after our death claim requirements are fulfilled.
Spousal continuation: If your spouse is sole primary beneficiary and you die before the annuitization
start date, your spouse may keep the contract as owner with the contract value equal to the death benefit that would otherwise have been paid. To do this your spouse must, on the date our death claim requirements are fulfilled, give us written
instructions to continue the contract as owner.
There will be no surrender charges on the contract from that point forward unless
additional purchase payments are made. If the death benefit applicable to the contract changes due to
spousal continuation, the mortality and expense risk fee may change as well (see “Charges — Mortality and Expense Risk Fee”).
If your beneficiary is not your spouse, or your spouse does not elect spousal continuation, we will pay the beneficiary in
a single sum unless you give us other written instructions. Generally, we must fully distribute the death benefit within five years of your death. However, the beneficiary may receive payouts under any annuity payout plan available under
this contract if:
•
the beneficiary elects in writing, and payouts begin, no later than one year after your
death, or other date as permitted by the IRS; and
•
the payout
period does not extend beyond the beneficiary’s life or life expectancy.
The information below has been revised to reflect proposed regulations issued by the Internal Revenue Service that
describe the requirements for required minimum distributions when a person or entity inherit assets held in an IRA, 403(b) or qualified retirement plan. This proposal is not final and may change. Contract owners are advised to work with
a tax professional to understand their required minimum distribution obligations under the proposed regulations and federal law. The proposed regulations can be found in the Federal Register, Vol. 87, No. 37, dated Thursday,
February 24, 2022.
•
Spouse beneficiary: If you have not elected an annuity payout plan, and if your spouse is the sole primary beneficiary, your spouse may
either elect to treat the contract as his/her own (spousal continuation), so long as he or she is eligible to do so, or elect an annuity payout plan or another plan agreed to by
us. If your spouse elects a payout option, the payouts must begin no later than the year in which you would have reached age 73. If you attained age 73 at the time of death, payouts must begin no later than Dec. 31 of the year following the year
of your death.
Your spouse may elect to assume ownership of the contract with the
contract value equal to the death benefit that would otherwise have been paid. To do this your spouse must, on the date our death claim requirements are fulfilled, give us written instructions to continue the contract as owner. There will be no surrender charges on the contract
from that point forward unless additional purchase payments are made. If the death benefit applicable to
the contract changes due to spousal continuation, the mortality and expense risk fee may change as well
(see “Charges — Mortality and Expense Risk Fee”). If your spouse is the sole beneficiary and elects to treat the contract as his/her own as an inherited IRA, the SecureSource series rider will terminate.
If you purchased this contract as an inherited IRA and your spouse
is the sole beneficiary, he or she can elect to continue this contract as an inherited IRA. Your spouse must follow the schedule of minimum surrenders established based on your life expectancy and must withdraw his or her entire inherited interest by December 31 of the 10th year following
your date of death.
If you purchased this contract as an inherited IRA and your spouse is not the sole beneficiary, he or she can elect an alternative payment plan for his or her share of the death benefit and all optional death benefits and living benefits
will terminate. Your spouse beneficiary must submit the applicable investment options form. No additional purchase payments will be accepted. The death benefit payable on the death of the spouse beneficiary is the contract value; the
mortality and expense risk fee will be the same as is applicable to the Standard Death Benefit. Your spouse must follow the schedule of minimum surrenders established based on
your life expectancy and must withdraw his or her entire inherited interest by December 31 of the 10th year following your date of death.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 55
•
Non-spouse beneficiary: If you have not elected an annuity payout plan, and if death occurs on or after Jan. 1, 2020, the beneficiary is
required to withdraw his or her entire inherited interest by December 31 of the 10th year following your date of death unless they qualify as an “eligible designated beneficiary.” Your
beneficiary may be required to take distributions during the 10-year period if you died after your Required Beginning Date, as defined under the Code. Eligible designated beneficiaries may continue to take proceeds out over your life expectancy if you died prior to
your Required Beginning Date or over the greater of your life expectancy or their life expectancy if you died after your Required Beginning Date. Eligible designated
beneficiaries include:
•
a lawful child of the owner under the age of 21 (remaining amount must be withdrawn by the
earlier of the end of the year the minor turns 31 or end of the 10th year following the minor's death);
•
disabled within the meaning of Code section 72(m)(7);
•
chronically ill within the meaning of Code section 7702B(c)(2);
•
any other person who is not more than 10 years younger than the owner.
However, non-natural beneficiaries, such as estates and charities, are subject to a five-year rule to distribute the IRA if you died prior to your Required Beginning Date.
We will pay the beneficiary in a single sum unless the beneficiary
elects to receive payouts under a payout plan available under this contract and:
•
the
beneficiary elects in writing, and payouts begin, no later than one year following the year of your death; and
•
the payout
period does not extend beyond December 31 of the 10th year following your death or the applicable life expectancy for an eligible designated beneficiary.
•
Spouse and Non-spouse beneficiary: If a beneficiary elects an alternative payment plan which is an
inherited IRA, all optional death benefits and living benefits will terminate. The beneficiary must submit the applicable investment options form. No additional purchase payments
will be accepted. The death benefit payable on the death of the beneficiary is the contract value; the mortality and expense risk fee will be the same as is applicable to the Standard Death Benefit.
•
Annuity payout plan: If you elect an annuity payout plan, the payouts to your beneficiary may continue
depending on the annuity payout plan you elect, subject to adjustment to comply with the IRS rules and regulations.
If You Die After the Annuitization Start Date
If you die after the annuitization start date, the amount payable, if any,
will depend on the annuity payment plan then in effect. Payments to beneficiaries are subject to adjustment to comply with the IRS rules and regulations.
Death of the owner: If the owner is the annuitant and dies after the annuitization start date, payments cease for lifetime only payment
plans. Payments continue to the owner’s beneficiaries for the remainder of any guarantee period or for the lifetime of a surviving joint annuitant, if any.
If the owner is not the annuitant and dies after the annuitization start date, payments continue to the beneficiaries
according to the payment plan in effect.
Death of the annuitant or of a beneficiary receiving payments under
an annuity payment plan: If the owner is not the annuitant and the annuitant dies after the annuitization
start date, payments cease for lifetime payment plans. Payments continue to the owner for the remainder of any guarantee period or for the lifetime of a surviving joint annuitant, if any.
If a beneficiary elects an annuity payment plan as provided under the payment options
provision above and dies after payments begin, payments continue to beneficiaries named by the deceased beneficiary as provided under the change of beneficiary provision for the remainder of any guarantee period. (See “Annuity Payout Plans”)
In any event, amounts remaining payable must be paid at least as rapidly as payments were being made at the time of such
death.
How we handle
contracts under unclaimed property laws
Every state has unclaimed property laws which generally declare annuity contracts to be abandoned after a period of inactivity of one to five years from either 1) the contract’s maturity date (the latest day on which income payments may begin under the contract) or 2) the date the death benefit is due and payable. If a contract matures or we determine a
death benefit is payable, we will use our best efforts to locate you or designated beneficiaries. If we are unable to locate you or a beneficiary, proceeds will be paid to the abandoned property division or unclaimed property office of the
state in which the beneficiary or you last resided, as shown in our books and records, or to our state of domicile. Generally, this surrender of property to the state is commonly referred to as “escheatment”. To avoid escheatment, and ensure an effective process for your beneficiaries, it is important that your personal address and beneficiary
56 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
designations are up to
date, including complete names, date of birth, current addresses and phone numbers, and taxpayer identification numbers for each beneficiary. Updates to your address or
beneficiary designations should be sent to our Service Center.
Escheatment may also be required by law if a known beneficiary fails to demand or
present an instrument or document to claim the death benefit in a timely manner, creating a presumption of abandonment. If your beneficiary steps forward (with the proper documentation) to claim escheated annuity proceeds, the state is obligated to pay any such proceeds it
is holding.
For nonqualified deferred annuities, non-spousal death benefits are generally
required to be distributed and taxed within five years from the date of death of the owner.
The assets held in our general account support the guarantees under your contract, including optional death benefits and
optional living benefits. To the extent that we are required to pay you amounts in addition to your contract value under these benefits, such amounts will come from our general account assets. You should be aware that our general
account is exposed to the risks normally associated with a portfolio of fixed-income securities, including interest rate, option, liquidity and credit risk. You should also be aware that we issue other types of insurance and financial products
as well, and we also pay our obligations under these products from assets in our general account. Our general account is not segregated or insulated from the claims of our creditors. The financial statements contained in the SAI include a
further discussion of the risks inherent within the investments of the general account.
In addition to the Standard Death Benefit, we also offer the following optional death benefits:
•
5- Year MAV Death Benefit; and
•
SecureSource Legacy Benefit .
The optional death benefits listed above must be elected at the time you purchase
your contract. Once you elect a death benefit, you cannot change it; however the death benefit that applies to your contract may change due to an ownership change (see “Changing Ownership”) or continuation of the contract by the spouse under the spousal
continuation provision.
The death benefit determines the mortality and expense risk fee that is assessed
against the subaccounts. We will base the benefit paid on the death benefit coverage in effect on the date of your death.
If you are age 80 or older at contract issue, you may select the ROPP death benefit described below at the time you purchase your contract. The ROPP Death benefit may not be purchased with the SecureSource
series rider. Be sure to discuss with your financial advisor whether or
not this death benefit is appropriate for your situation.
Return of Purchase Payments (ROPP) Death Benefit
The ROPP Death Benefit will pay your beneficiaries no less than
your purchase payments, adjusted for surrenders. If you die before the annuitization start date and while this contract is in force, the death benefit will be the greatest
of:
1.
the contract value after any rider charges have been deducted, or
For a spouse who continues the contract and is age 80 or older, we reset the ROPP
value to the contract value on the date of the continuation after any rider charges have been deducted and after any increase to the contract value due to the death benefit that would otherwise have been paid. If the spouse who continues the contract is age 79 or younger,
the ROPP Death Benefit will terminate and the Standard Death Benefit will apply.
After a covered life change other than for the spouse who
continues the contract, if any owner is age 80 or older we reset the ROPP value on the valuation date we receive your request for the ownership change to the contract value after
any rider charges have been deducted, if the contract value is less.
If all owners are age 79 or younger, the ROPP Death Benefit will terminate and
the Standard Death Benefit will apply.
If you are age 75 or younger at contract issue, you may select either the MAV Death Benefit or the 5-Year MAV Death Benefit at the time you purchase your contract. The MAV Death Benefit may not be purchased with the SecureSource series rider. If you are age 76-79 at contract issue, you may
select the MAV Death Benefit. The MAV death benefit does not provide any additional benefit before the first contract anniversary and the 5-Year MAV Death
Benefit does
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 57
not
provide any additional benefits before the fifth contract anniversary and may not be appropriate for certain older issue ages because the benefit values may be
limited after age 80. Be sure to discuss with your financial advisor whether or not these death benefits are appropriate for your situation.
Maximum Anniversary Value (MAV) Death Benefit
The MAV Death Benefit provides that if you die while the contract is in force and
before the annuitization start date, the death benefit will be the greatest of these values:
1.
the contract value after any rider charges have been deducted;
The MAV equals the ROPP value prior to the first contract anniversary. Every contract anniversary prior to the earlier of your 81st birthday or your death, we compare the MAV to the current contract value and we reset the MAV to the higher
amount. The MAV is increased by any additional purchase payments and reduced by adjusted partial surrenders as described above under “Benefits in Case of Death — Standard Death Benefit”
section.
For a spouse who is age 79 or younger and continues the contract, we reset the MAV to the contract value on the date of
the continuation after any rider charges have been deducted and after any increase to the contract value due to the death benefit that would otherwise have been paid. If your
spouse is age 80 or older when the contract was continued, the MAV death benefit will terminate and the Standard Death Benefit will apply.
After a covered life change other than for a spouse who continues the contract, if all owners are age 79 or younger, we
reset the MAV on the valuation date we receive your request for the ownership change to the lesser of these two values:
(a)
the contract value after any rider charges have been deducted, or
(b)
the MAV on that date, but prior to the reset.
If any owner is age 80 or older at the time of the covered life change, the MAV death benefit will terminate and the Standard Death Benefit will apply.
5-Year Maximum Anniversary Value (5-Year MAV) Death Benefit
The 5-year MAV Death Benefit provides that if you die while the contract is in force and before the annuitization start
date, the death benefit will be the greatest of these values:
1.
the contract value after any rider charges have been deducted;
The 5-year MAV equals the ROPP value prior to the fifth contract anniversary. Every fifth contract anniversary prior to the earlier of your 81st birthday or your death, we compare the 5-year MAV to the current contract value and we reset the
5-Year MAV to the higher amount. The 5-year MAV is increased by any additional purchase payments and reduced by adjusted partial surrenders as described above under “Benefits in Case of Death — Standard Death Benefit” section.
For a spouse who is age 75 or younger and continues the contract, we reset the 5-Year MAV to the contract value on the
date of the continuation after any rider charges have been deducted and after any increase to the contract value due to the death benefit that would otherwise have been paid. If your spouse is age 76 or older when the contract was
continued, the 5-year MAV death benefit will terminate and the Standard Death Benefit will apply.
After a covered life change other than for a spouse who continues the contract, if all owners are age 75 or younger, we
reset the 5-Year MAV on the valuation date we receive your request for the ownership change to the lesser of these two values:
(a)
the contract value after any rider charges have been deducted, or
(b)
the 5-Year MAV on that date, but prior to the reset.
If any owner is age 76 or older at the time of the covered life change, the 5-year MAV death benefit will terminate and the Standard Death Benefit will apply.
SecureSource Legacy Benefit
The SecureSource Legacy benefit
is an optional benefit that you can elect only at time of application for an additional charge. The SecureSource Legacy rider is intended to provide additional death benefit guarantees that may increase
the death benefit provided under the contract. This rider is available only when purchased in combination with the one of the SecureSource Series riders (Guaranteed Lifetime Withdrawal Benefit (GLWB) riders). Terms used in this
rider have the same meaning as in the GLWB riders to which they are attached. If you elect
SecureSource Legacy, you may not elect any other death benefit riders.
58 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The SecureSource Legacy provides that if the annuitant dies before the annuitization start date, and while
this contract is in force, we will pay the beneficiary the greater of the SecureSource
Legacy benefit amount provided by this rider or the death benefit under the terms of the contract. If the owner is the natural person, the owner and the annuitant
must be the same at issue. The annuitant cannot be changed. If there is an ownership change resulting in a natural owner that is not the same as the annuitant, the SecureSource Legacy benefit amount will be payable if the annuitant dies. The death benefit under the terms of the base contract will not
be payable.
The SecureSource Legacy benefit
amount is subject to the maximum amount of $20 million.
Determination of the SecureSource
Legacy benefit amount: The SecureSource Legacy benefit amount is determined at the following times:
1.
At rider effective date
The SecureSource Legacy benefit amount is set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The SecureSource Legacy benefit amount will be increased by the amount of each additional purchase payment.
See “Buying Your Contract — Purchase
Payments” for purchase payment limitations.
3.
When a withdrawal is taken
The
SecureSource Legacy benefit amount can be adjusted, but it will not be less than
zero.
(A)
If the Current Annual Payment is not established, Excess Withdrawal Processing will occur as follows.
The SecureSource Legacy benefit amount will be reduced by the greater amount of the withdrawal or the “adjustment for withdrawal”
calculated as follows:
| |
|
the amount of the withdrawal |
| |
|
the SecureSource Legacy benefit amount on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is established and the withdrawal
is less than or equal to the Remaining Annual Payment, the SecureSource Legacy benefit amount is reduced by the amount of the withdrawal.
(C)
If the Current Annual Payment is established and the withdrawal
is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the SecureSource Legacy benefit amount will be reduced by the greater of (1) the amount of the withdrawal or (2) the Remaining Annual Payment plus an amount calculated as
follows:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the SecureSource Legacy benefit amount on the date of (but prior to) the withdrawal minus the Remaining Annual Payment |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
4.
At each rider anniversary
The SecureSource Legacy benefit amount will be increased to the contract value (after rider charges are deducted) if the contract value is
greater.
Please note that withdrawals you take under the GLWB riders, reduce the SecureSource Legacy benefit amount under this rider. For detailed description of how SecureSource Legacy benefit amount is determined when a withdrawal is taken, see “Determination of the SecureSource Legacy benefit amount – when a withdrawal is taken” above. For detailed description of how withdrawals effect GLWB
values, see “Determination of Adjustments of Benefits Values” in the GLWB riders’ description.
Rules for Surrenders (applicable to contracts with applications signed on or after 5/4/2020):
When the Contract Value is reduced to zero, this rider will continue if the SecureSource Legacy benefit amount is greater than zero and the attached GLWB rider does not terminate. The SecureSource Legacy benefit amount is reduced by the amount of each payment paid as defined under the attached GLWB rider, but it will not be less than zero. We will no
longer accept additional purchase payments and no more charges will be collected for the rider. At the death of the Covered Person (for the Joint Life rider, both Covered Spouses) we will pay the beneficiary the
SecureSource Legacy benefit amount provided by this rider in a lump sum payment.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 59
Rules for
Surrenders (applicable to contracts with applications signed prior to 5/4/2020):
For contracts with applications signed before 5/4/2020, when the Contract Value is
reduced to zero, this rider will terminate.
If the Current Annual Payment is determined by incorrect information regarding the
Covered Person's (for the Joint Life rider, Covered Spouse's) birth date, the
SecureSource Legacy benefit amount will be adjusted based on the corrected Current Annual Payment.
Spousal Option to Continue the Contract upon Owner’s Death
(Spousal Continuation):
Single Life: If a spouse elects to continue the
contract and continues the contract as the new owner under the spousal continuation provision of the contract, the rider terminates.
Joint Life: If a surviving spouse is a covered spouse as defined under the attached
GLWB rider and chooses to continue the contract under the spousal continuation provision, the following provisions apply:
•
This rider continues as part of the contract.
•
At the time of
spousal continuation, the SecureSource Legacy benefit amount may be increased. On the
valuation date spousal continuation is effective, the SecureSource Legacy benefit amount will be increased to the contract value (after any rider fees have been deducted and after any increase
to the contract value due to the death benefit that would otherwise have been paid) if the contract value is greater. The death benefit that would otherwise have been paid will not include the SecureSource Legacy benefit amount.
•
The
SecureSource Legacy benefit amount is available for payment at the death of the surviving
covered spouse.
Annuity Provisions (applicable to contracts with applications
signed on or after 5/4/ 2020):
If you choose to receive the Current Annual Payment on the annuitization start date, the SecureSource Legacy benefit
amount is reduced by the amount of each payment paid as defined under the attached GLWB rider, but it will not be less than zero. No more charges will be collected for the rider. At the death of the Covered Person (for the Joint Life rider,
both Covered Spouses) we will pay the beneficiary the SecureSource Legacy benefit amount provided by this rider in a lump sum payment.
Annuity Provisions (applicable to contracts with applications signed prior to 5/4/2020):
For contracts with applications signed before 5/4/2020, on the annuitization start date, this rider will terminate.
You should consider whether the SecureSource Legacy benefit rider is appropriate for you because:
•
Investment Allocation Restrictions: This rider requires 100% allocation of purchase payments and your contract value to approved investment options.
(See “Investment Allocation Restrictions for Certain Benefit Riders” and “Appendix B: Funds Available Under the Optional Benefits Offered
Under the Contract – Investment Allocation Restrictions for
the SecureSource Core 2 NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, SecureSource 4 Plus NY benefit riders and Investment Allocation Restrictions for the SecureSource Tempo NY Rider”).This means that you will not be able to allocate contract value to all of the subaccounts that are available under the contract to contract owners who do not elect the
rider. (See “Investment Allocation Restrictions for Certain Benefit Riders”). We reserve the right to limit elective investment option changes if required to comply with the written instructions of a fund (see “Making the Most of Your Contract – Transferring Among Accounts – Market Timing”). We reserve the right to add, remove or substitute approved investment options at any time and in our sole discretion. Any substitution of funds may be subject to the SEC
or state insurance departments approval. (See “Substitution of Investments”).
•
Limitation on Transfers: Because this rider requires 100% allocation to approved investment options,
transfer privileges granted under the contract are suspended other than: (1) transfers among the available investment options as described in the investment options and limits provision, provided such transfers are not determined to disadvantage
other contract owners (See Making the Most of Your Contract – Transferring Among Accounts - Market Timing”) or (2) transfers as otherwise agreed to by us.
Termination of the Rider
(for contract
applications signed on or after 5/4/2020)
The rider cannot be terminated either by you or us except as follows:
1.
Single Life: After the death benefit is payable, the rider will terminate.
2.
Joint Life: After the death benefit is payable, unless the Covered Spouse continues the contract as
described in the spouse’s option to continue contract provision, the rider will terminate.
3.
On the annuitization start date, if you choose a payout option available under the contract, the rider will terminate.
4.
In relation to certain increases to the annual rider fee as described in the SecureSource
Legacy Benefit Rider Charge provision, your written request will terminate the rider.
60 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
5.
Reduction of the
SecureSource Legacy benefit amount to zero will terminate the rider.
6.
Termination of the SecureSource
series rider for any reason will also terminate the SecureSource Legacy benefit rider.
7.
Termination of the
contract for any reason will terminate the rider.
Termination of the Rider
(for contract applications signed prior to 5/4/2020)
The rider cannot be terminated either by you or us except as
follows:
1.
Single Life: After the death benefit is payable, the rider will terminate.
2.
Joint Life: After the death benefit is payable, unless the Covered Spouse continues the contract as
described in the spouse’s option to continue contract provision, the rider will terminate.
3.
On the annuitization start date the rider will terminate.
4.
In relation to
certain increases to the annual rider fee as described in the SecureSource Legacy Benefit
Rider Charge provision, your written request will terminate the rider.
5.
Reduction of the
contract value to zero will terminate the rider.
6.
Termination of the SecureSource series rider for any reason will also terminate the SecureSource Legacy benefit
rider.
7.
Termination of the contract for any reason will terminate the rider.
Upon termination of this rider, any additional death benefit provided by the rider will not be payable upon the annuitant’s death. Upon termination, this rider may not be reinstated.
For an example, please see Appendix E.
SecureSource Series Rider Terms
The following key terms are associated with the following SecureSource Series of riders:
Age Bands: are the age ranges shown in your contract data. For SecureSource Tempo NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource 4 NY and SecureSource 4 Plus NY, each Age Band is associated with two components of your Lifetime Payment Percentage, a Minimum Lifetime Payment Percentage and a potential Income Bonus
Percentage. In addition to your age, other factors determine when you move to a higher Age Band. The Age Bands are shown in the Rate Sheet Prospectus Supplement.
Annual Credit: an amount that can be added to the Benefit Base on rider anniversaries during a Credit
Period, subject to limitations. Investment performance and Excess Withdrawals may reduce or eliminate the benefit of any Annual Credits. Annual Credits increase the Current Annual Payment but may result in higher rider charges that may exceed the
benefit from the Annual Credits. Annual Credit is not applicable to the SecureSource
Tempo NY rider.
The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus
Supplement.
Annual Step-Up: an increase in the Benefit Base that is available on each rider anniversary if your
contract value increases above guaranteed amounts, subject to certain conditions. If the Benefit Base increases due to an Annual Step-Up, a Credit Period will restart and if your current age (Joint Life: the younger Covered Spouse age) is now in a higher Age Band, the minimum Lifetime Payment Percentage will
increase.
Benefit Base: used to determine the Current Annual Payment and the annual rider charge. The Benefit
Base is separate from your contract value and cannot be withdrawn in a lump sum or annuitized and is not payable as a death benefit.
Credit Base: used to determine the Annual Credit. The Credit Base cannot be withdrawn or annuitized and
is not payable as a death benefit. Credit Base is not applicable to the SecureSource
Tempo NY rider.
Credit Period: starts on the rider effective date. Subject to limitations, the Credit Period will restart on a rider anniversary
whenever there is an increase of the Benefit Base due to an Annual Step-Up or (2) Joint Life only: on the following rider anniversary in the event of a step-up of the Benefit
Base under the spousal continuation provision. The Credit Period is shown in the Rate Sheet Prospectus Supplement.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 61
Current
Annual Payment: the benefit amount available for withdrawal each contract year after the Covered Person (Joint Life: the younger covered spouse) has reached the youngest age in the first Age Band. For the
SecureSource Tempo NY, SecureSource 5 NY, SecureSource 5 Plus NY,
SecureSource 4 NY and SecureSource 4 Plus NY riders, the amount guaranteed by the rider. Current Annual Payment can vary each contract year and is equal to the minimum annual
lifetime payment plus an Income Bonus.
Excess Withdrawal: any withdrawal taken before the Current Annual Payment, or that is greater than the Remaining Annual Payment. Any
excess withdrawal request will not be considered in good order until we receive a signed Benefit Impact Acknowledgement form showing the projected effect of the surrender on the
rider benefits or a verbal acknowledgement that you understand and accept the impacts that have been explained to you.
Excess Withdrawal Processing: reduces benefits under the rider if an Excess Withdrawal is
processed.
Income Bonus: for SecureSource 4 NY, SecureSource 4 Plus NY, SecureSource 5 NY, SecureSource 5 Plus NY and SecureSource Tempo NY, a potential increase to the Current Annual Payment. It is calculated by multiplying the Benefit Base by the Income
Bonus Percentage.
Income Bonus Percentage: for SecureSource Tempo NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource 4 NY and SecureSource 4 Plus NY the
Income Bonus Percentage may be added to the Minimum Lifetime Payment Percentage as described in the “Lifetime Payment Percentage” provision below. The Income Bonus
Percentage is not available under SecureSource Core 2 NY SecureSource Core NY and SecureSource Core Plus NY.
The Income Bonus Percentage and Minimum Lifetime Payment Percentages are shown in the Rate Sheet Prospectus Supplement.
Lifetime Payment Percentage: used to calculate your Current Annual Payment. For SecureSource Tempo NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource 4
NY and SecureSource 4 Plus NY, it is the Minimum Lifetime Payment Percentage plus the Income Bonus Percentage, when eligible. The percentage used can
vary as described in the Lifetime Payment Percentage provision below. The Lifetime Payment Percentages and Minimum Lifetime Payment Percentages, as applicable to each rider, are shown in the Rate Sheet Prospectus Supplement.
Minimum Annual Lifetime Payment: for SecureSource 4 NY, SecureSource 4 Plus NY, SecureSource 5 NY, SecureSource 5 Plus NY
and SecureSource Tempo NY, the guaranteed lifetime benefit amount available for withdrawal each contract year. It is calculated by multiplying
the Benefit Base by the Minimum Lifetime Payment Percentage.
Remaining Annual Payment: after the Current Annual Payment is
established, the Remaining Annual Payment is the amount that can be withdrawn during the remainder of the current contract year.
Withdrawal: the amount by which your contract value is reduced as a result of any withdrawal request.
It may differ from the amount of your request due to any surrender charge.
Withdrawal Adjustment Base: for SecureSource Tempo NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource 4 NY and SecureSource 4 Plus NY,
one of the components used to determine whether or not the Income Bonus will be included with the Lifetime Payment Percentage. The Withdrawal Adjustment Base cannot be withdrawn
or annuitized and is not payable as a death benefit.
The following key terms only apply to SecureSource Core Plus NY:
Base Doubler: is 200% of purchase payments received before the first contract anniversary plus 100% of any premiums received after
that. It is used one-time to increase your Benefit Base if you do not take any withdrawals or decline a fee increase before the Base Doubler Date (unless the Benefit Base is
already higher due to annual credits and annual step ups). The Base Doubler cannot be withdrawn in a lump sum or annuitized and is not payable as a death benefit.
Base Doubler Date (for contracts with applications signed before 5/1/2020): at issue, it is the later
of: (1) the 12th rider anniversary; or (2) the rider anniversary on or following the Covered Person (Joint Life: the younger Covered
Spouse) reaching the Base Doubler age shown in the Rate Sheet Prospectus Supplement.
Base Doubler Date (for contracts with
applications signed on/after 5/1/2020): at issue, it is the later of: (1) the rider anniversary equal to
the Base Doubler duration; or (2) the rider anniversary on or following the Covered Person (Joint Life:the younger Covered Spouse) reaching the Base Doubler age, both shown in the Rate Sheet
Prospectus Supplement.
The following key terms only apply to SecureSource Tempo NY:
Contract Returns Used for Credit: Any positive returns in a contract year that are used to determine the Returns-linked Credit.
Credit Carryover: An amount that can be used on the Rider Anniversary to increase the Returns-linked
Credit.
Maximum Carryover: The maximum amount for the Credit Carryover. The Maximum Carryover percentage (shown
on the Rate Sheet Prospectus Supplement) is used to calculate the Maximum Carryover.
62 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
Maximum
Credit: The maximum amount for the Returns-linked Credit. The Maximum Credit percentage (shown on the Rate
Sheet Prospectus Supplement) is used to calculate the Maximum Credit.
Returns-linked Credit: is an amount that can be added to the Benefit
Base on Rider Anniversaries during a Credit Period, subject to limitations. Excess Withdrawals may reduce or eliminate the benefit of any Returns-linked Credits. Returns-linked Credits increase the Current Annual Payment but may result in higher rider charges that may exceed the
benefit from the Returns-linked Credits.
Returns-linked Credit Base: used to determine the Maximum Credit and the Maximum Carryover. The Returns-linked Credit Base cannot be withdrawn or
annuitized and is not payable as a death benefit.
SecureSource Tempo NY Rider
(Available for contract applications signed on or after 5/3/2021)
The SecureSource Tempo NY rider is an optional benefit that you can elect at time of application for an
additional charge. It may not be purchased with any other optional living benefit and certain death benefit riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide to you a specified withdrawal amount annually for
life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit offers a Returns-linked Credit feature and a step-up feature to lock in contract anniversary gains to increase the
Benefit Base and the lifetime payment.
If the contract value is reduced to zero due to market performance, fees or charges,
or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource Tempo NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to ensure that market performance will not adversely affect your ability to withdraw
income over your lifetime.
The SecureSource Tempo NY rider may be not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or
withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of
currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
The SecureSource Tempo NY rider guarantees that, regardless of investment performance, you may take withdrawals up to the Current Annual Payment
each contract year after the Current Annual Payment is established. Your age at the time of the first withdrawal will determine the Age Band for as long as benefits are payable
except as described in the Lifetime Payment Percentage provision. The Current Annual Payment can vary based on the relationship of your contract value to the withdrawal adjustment base. Each contract year, whether or not the Income Bonus Percentage is included in
the Lifetime Payment Percentage is determined when the first withdrawal is taken and is fixed for the remainder of that contract year (see “Lifetime Payment Percentage” below).
As long as your total withdrawals during the current contract year do not exceed the
Current Annual Payment, you will not be assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time,
you may withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the ride r(see “Determination of Adjustments of Benefit
Values”).
Any amount we pay in excess of your contract value is subject to our financial strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if a Returns-linked Credit is
available or your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you:
•
withdraw more than the allowed withdrawal amount in a contract year, or
•
take withdrawals before the Current Annual Payment is established.
Each year, your Current Annual Payment may or may not include an Income Bonus. If the contract value is 20% or more below the Withdrawal Adjustment Base, the Income Bonus Percentage will not be available. (see Withdrawal Adjustment Base
described below).
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 63
For
important considerations on whether a SecureSource Tempo NY rider is appropriate for you, see “Important
SecureSource Series Rider Considerations”
section.
There are two SecureSource Tempo NY riders available under your contract:
•
SecureSource Tempo NY – Single Life
•
SecureSource Tempo NY – Joint Life
The information in this section applies to both SecureSource Tempo
NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning
as the term “surrender” in the contract or any other riders
The SecureSource Tempo NY — Single Life rider covers one person who is named at contract issue.
Joint ownership and joint annuitants are not allowed for SecureSource Tempo NY — Single Life rider.
The SecureSource Tempo NY — Joint Life Rider covers two spouses jointly who are named at contract
issue. You may elect only the SecureSource Tempo NY — Single Life rider or the SecureSource Tempo NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource Tempo NY rider
is an optional benefit that you may select for an additional annual charge. The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet Prospectus
Supplement which may be amended from time to time by us.
The SecureSource Tempo NY riders are not available under an inherited qualified annuity.
The SecureSource Tempo NY rider
guarantees that, regardless of the investment performance of your contract, you will be able to withdraw up to a certain amount each year from the contract before the
annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below).
•
If there has
been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the SecureSource Tempo NY rider, see “SecureSource Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current rider charges and the current rates for the Minimum Lifetime Payment percentages, Income Bonus Percentage,
Credit Period, Maximum Credit percentages, Maximum Carryover percentage and Credit Multiplier applicable to your contract are disclosed in the Rate Sheet Prospectus Supplement
attached to this prospectus. These terms can only change as provided in this prospectus (see “Lifetime Payment Percentage”, “Income Bonus percentage”, “Returns-linked Credit”, “Credit Carryover” below.) We may change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate Sheet Prospectus
Supplement for the next effective period, we will file a new Rate Sheet Prospectus Supplement. All historical Rate Sheet Prospectus Supplements will be reflected in Appendix
G to this prospectus. All Rate Sheet Prospectus Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed with the Securities and
Exchange Commission (the “SEC”) and are also available on the Edgar system at www.sec.gov (File
No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Lifetime Payment, and the duration of the Current Annual
Payments (see “Current Annual Payment)” heading below). The Covered Person is established on the rider effective date and cannot be changed. The Covered Person is the
contract owner on the rider effective date. If the owner on that date is a nonnatural person (e.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant as named
on the application. After death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining
Covered Spouse will be used when referring to the younger Covered Spouse. The Covered Spouses lives are used to determine when the Current Annual Payment is established,
64 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
and the duration of the
Current Annual Payments (see “Current Annual Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more
details, see “Assignment and Change of Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered
Person (Joint life: younger Covered Spouse has reached the youngest age in the first Age Band. When the Current Annual Payment is
established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described below, the
Current Annual Payment will be recalculated. When the first withdrawal is taken in each contract year, we will determine if the Income Bonus Percentage will be included in the
Lifetime Payment Percentage for the remainder of that contract year.
The Current Annual Payment can vary each contract year and includes the
minimum annual lifetime payment and may also include an Income Bonus. The minimum annual lifetime payment is the guaranteed lifetime benefit amount available for withdrawal each contract year. It is calculated by multiplying the Benefit Base by the Minimum Lifetime
Payment Percentage. The Income Bonus is a potential increase to the Current Annual Payment and is calculated by multiplying the Benefit Base by the Income Bonus Percentage. If the Income Bonus Percentage is included in the Lifetime
Payment Percentage, then the income bonus is included in the Current Annual Payment.
If you withdraw less than the Current Annual Payment in a contract year, the unused
portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
the youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age
in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first
Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written
notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse
has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive
a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the
owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
Remaining Annual Payment: the amount available for withdrawal for
the remainder of the contract year. The Remaining Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment.
The Lifetime Payment Percentage for each Age Band is shown in the Rate Sheet Prospectus
Supplement.
The Age Band for the Lifetime Payment Percentage is determined at the following times:
•
When the
Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life:
younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has
been taken since the Current Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the
Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 65
in the
first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the
Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Income Bonus Percentage: The Income Bonus Percentage may provide additional income under the rider.
Availability of the Income Bonus Percentage is determined at the time of your first withdrawal each contract year. The benefit determining percentage is a comparison of your contract value and the Withdrawal Adjustment Base. If the benefit
determining percentage is less than 20%, then the Lifetime Payment Percentage will include the Income Bonus
Percentage, as shown in the Rate Sheet Prospectus Supplement, when calculating the Current Annual Payment (unless the Lifetime Payment Percentage is set to a fixed percentage as described below).
The benefit determining percentage is calculated on each valuation date as
follows, but it will not be less than zero:
| |
|
|
| |
|
Contract value at the end of the prior valuation period |
| |
|
Withdrawal Adjustment Base at the end of the prior valuation period |
After the Current Annual Payment is established, the first withdrawal taken in each
contract year will set the Lifetime Payment Percentage to a fixed percentage for the remainder of the contract year except as noted below. Following each rider anniversary, the availability of the Income Bonus Percentage, and therefore the Lifetime Payment Percentage, can
change on each valuation date until a withdrawal is taken in that contract year. For more information on how this rider operates, please see “Appendix E: Example – Optional Living Benefits – SecureSource
Tempo NY Rider”.
However, at the earliest of (1) or (2) below, the Income Bonus Percentage is no
longer available and the Lifetime Payment Percentage will equal the Minimum Lifetime Payment Percentage for as long as the benefit is payable:
(1)
when your contract value reduces to zero, or
(2)
on the
annuitization start date.
For certain periods of time at our discretion and on a non-discriminatory basis,
your Lifetime Payment Percentage may be set by us to include the Income Bonus Percentage if more favorable to you.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Benefit Base, Returns-linked Credit Base and Withdrawal Adjustment Base, Credit Base and Benefit Base are set equal to the initial purchase payment.
The Credit Carryover is zero.
The Maximum Credit equals the Returns-linked Credit Base multiplied by the Maximum Credit
Percentage.
The Maximum Carryover equals the Returns-linked Credit Base multiplied by the Maximum Carryover Percentage.
2.
When an additional purchase payment is made
The
Benefit Base and Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment.
The Credit Carryover does not change.
If the purchase payment is received within 180 days after the
contract date:
•
the Returns-linked Credit Base will be increased by the amount of the additional purchase
payment; and
•
the Maximum Credit is recalculated to the Returns-linked Credit Base multiplied by the
Maximum Credit Percentage; and
•
the Maximum
Carryover is recalculated to the Returns-linked Credit Base multiplied by the Maximum Carryover Percentage.
Purchase payments after 180 days do not increase the Maximum Credit or Maximum Carryover until the contract year after the purchase payment was received.
See “Buying Your Contract — Purchase Payments” for
purchase payment limitations.
3.
When a withdrawal is taken
A
Returns-linked Credits will not be added to the Benefit Base on the following rider anniversary.
The Withdrawal Adjustment Base, Benefit Base and Credit Carryover
can be adjusted, but they will not be less than zero.
66 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
(A)
The Withdrawal
Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,”
calculated as follows:
| |
|
the amount of the withdrawal |
| |
|
the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is not established, Excess Withdrawal Processing will occur
as follows.
The Benefit Base and Credit Carryover will be reduced by the same
proportion that the contract value is reduced using the “adjustment for withdrawal” calculation described above but substituting the Benefit Base or Credit Carryover
(as applicable) for the Withdrawal Adjustment Base.
(C)
If the Current Annual Payment is established and the withdrawal is less than or equal to
the Remaining Annual Payment, the Benefit Base and Credit Carryover do not change.
(D)
If the Current Annual Payment is established and the withdrawal is greater than the
Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Carryover will be reduced by an amount as calculated below:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Carryover (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how your benefit values are calculated on rider anniversaries. The Benefit Base, Returns-linked
Credit Base and Withdrawal Adjustment Base are calculated on rider anniversaries, subject to the maximum amount of $20 million for each.
1. Returns-linked Credit for the Benefit Base: If you did not take any withdrawals
during the prior contract year and you did not decline any increase to the annual rider fee, Returns-linked Credits may be available. The Maximum Credit percentage and Maximum Credit Carryover percentage are shown in the Rate Sheet Prospectus
Supplement.
The Returns-linked Credit equals the lesser of the Maximum Credit or the
following:
| |
|
Contract Returns Used for Credit |
| |
|
|
| |
|
|
The Benefit Base will be increased by the Returns-linked Credit on the Rider Anniversary.
•
Contract Returns Used for Credit:
-
On the first Rider Anniversary
The Contract Returns Used for Credit equals the Contract Value on
the first Rider Anniversary (after rider charges have been deducted) less the purchase payments received during the first contract year, but it will not be less than zero.
-
On Any Other Rider Anniversary During a Credit Period
The Contract Returns Used for Credit equals the Contract Value on the Rider Anniversary (after rider charges have been
deducted) less the Contract Value on the prior Rider Anniversary (after rider charges have been deducted) less any purchase payments received in that contract year, but it will
not be less than zero.
-
The Contract Value used to determine the Contract Returns Used for Credit is the value on
the anniversary after all charges have been deducted. Your ability to earn Returns-linked Credits can be limited by declining or volatile equity market performance, withdrawals and charges.
-
If the Covered
Spouse continued the contract under the spousal continuation provision in the prior contract year, the Contract Returns Used for Credit is reduced by any increases to the
Contract Value due to the death benefit that would otherwise have been paid.
After the end of the Credit Period there will be no additional Returns-linked Credits unless the Credit Period restarts due to an Annual Step-Up of the Benefit Base.
When the Credit Period ends the Returns-linked Credit Base, Credit Carryover, Maximum
Carryover and Maximum Credit will be set to zero on the last Rider Anniversary of a Credit Period.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 67
The Returns-linked Credit
Base, Credit Carryover, Maximum Credit and Maximum Carryover will be permanently set to zero on the later of: (A) the rider anniversary on or after the oldest owner’s 95th
birthday or (B) the rider anniversary equal to the Credit Period duration, as shown in the Rate Sheet Prospectus Supplement.
2. Annual Step-Up for the Benefit Base
Beginning with the first rider anniversary, an Annual Step-Up may be available. If
you decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available.
The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is
greater than the Benefit Base (after any Returns-linked Credit is added). If an Annual Step-Up is executed, the Benefit Base and Lifetime Payment Percentage will be adjusted as follows:
•
The Benefit Base will be increased to the contract value,
•
The Credit Period will restart.
•
If the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary
is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment
Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual
Step-Up due to the maximum Benefit Base limitation.
3.
Credit Carryover on Rider Anniversaries
If You did not take any Withdrawals during the prior contract year, the Credit Carryover is recalculated on the Rider Anniversary after any Returns-linked Credit and any Annual Step-Up has been applied to the Benefit Base. It equals the
following (up to the Maximum Carryover, as shown in the Rate Sheet Prospectus
Supplement):
| |
|
Contract Returns Used for Credit |
| |
|
|
| |
|
|
| |
|
any Returns-linked Credit that was applied on this Rider Anniversary |
If a Withdrawal has been taken during the prior contract year, the Credit Carryover is
not recalculated.
4. Returns-linked Credit Base, Maximum Credit and Maximum Carryover on Rider Anniversaries
The following values are reset on each Rider Anniversary after any Returns-linked Credit and any Annual Step-Up has been
applied to the Benefit Base.
The Returns-linked Credit Base is reset to the Contract Value (after rider charges are deducted) on the Rider
Anniversary.
The Maximum Credit is recalculated and equals the Returns-linked Credit Base
multiplied by the Maximum Credit Percentage.
The Maximum Carryover is recalculated and equals the greater of 1) Returns-linked
Credit Base multiplied by the Maximum Carryover Percentage or 2) the Credit
Carryover.
5. The Withdrawal Adjustment Base on Rider Anniversaries
If You did not decline an increase to the annual rider fee, the Withdrawal Adjustment
Base will be increased to the Contract Value, if greater.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated
separately for your contract is greater than the Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment will not be subject to Excess Withdrawal Processing provided that the following conditions are met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
68 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Spousal
Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the contract as the new owner under the spousal
continuation provision of the contract, the SecureSource Tempo NY— Single Life
rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource Tempo NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary; however, a new
Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If you Die Before
the Annuitization Star t Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary. The Withdrawal Adjustment Base, if greater than zero, will be increased to the contract value if the contract value is greater. The spousal continuation
step-up is processed on the valuation date spousal continuation is effective.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Returns-linked Credit Base and Credit Carryover, if greater than zero, will be permanently reset to zero, and there will be no additional Returns-linked Credits. Also, the following will occur:
•
If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market
performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually until the death of the
Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current
Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner will receive the Benefit Base
multiplied by the Minimum Lifetime Payment Percentage paid annually until the death of the Covered Person (Joint Life: both Covered Spouses).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is less than or equal to the Remaining Annual Payment, (including RMDs that are not subject to Excess
Withdrawal Processing as described above), the Current Annual Payment will be available for the remainder of this contract year and then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to
the owner until the death of the Covered Person.
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your
estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally
permissible.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
If the contract value is greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 69
•
continue the
contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse
must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are allowed at rider issue. If the owner on the rider effective date is a natural person, only the Covered Spouses can be
owners at rider issue. If there is a non-natural or a revocable trust owner, one of the Covered Spouses must be the annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource Tempo NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource Tempo NY rider is not available.
Under the rider’s payout option, you will receive the Current Annual Payment
recalculated based on the Minimum Lifetime Payment Percentage, each contract year until the death of the Covered Person (Joint Life: both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that year. These
annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right
to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the contract. For more information about
annuity payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource Tempo NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate.
•
Single Life: spousal continuation will terminate the rider.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will
terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the
contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will
terminate.
•
On the annuitization start date, the rider will terminate if you choose a payout option
available under the contract.
•
You may terminate the rider if your annual rider fee after any increase is more than 0.25
percentage points higher than your fee before the increase. (See “Charges —
SecureSource Tempo NY riders charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
SecureSource Core 2 NY Rider
(Available for contract applications signed on or after 5/3/2021 but
prior to 1/1/2022)
The SecureSource Core 2 NY
rider is an optional benefit that you can elect at time of application for an additional charge. It may not be purchased with any other optional living benefit and certain death
benefit riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide a specified withdrawal amount annually for life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit
offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the Benefit Base and the lifetime payment.
If the contract value is reduced to zero due to market performance, fees or charges,
or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
70 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The SecureSource Core 2 NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to ensure that market performance will not adversely affect your ability to withdraw
income over your lifetime.
The SecureSource Core 2 NY rider may be not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or
withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of
currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
The SecureSource Core 2 NY rider guarantees that, regardless of investment performance, you may take withdrawals up to the Current Annual Payment
each contract year after Current Annual Payment is established. Your age at the time of the first withdrawal will determine the Age Band for as long as benefits are payable
except as described in the Lifetime Payment Percentage provision (see “Lifetime Payment Percentage” below).
As long as your total withdrawals during the contract year do not exceed the Current Annual Payment, you will not be
assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time, you may
withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the rider (see “Determination of Adjustments of Benefit Values”).
Any amount we pay in excess of your contract value is subject to our financial
strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available or your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you:
•
withdraw more than the allowed withdrawal amount in a contract year, or
•
take withdrawals before the Current Annual Payment is established.
For important considerations on whether a SecureSource Core 2 NY rider is appropriate for you, see
“Important SecureSource Series Rider
Considerations” section.
There are two SecureSource Core 2 NY riders available under your contract:
•
SecureSource Core 2 NY – Single Life
•
SecureSource Core 2 NY – Joint Life
The information in this section applies to both SecureSource Core 2
NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning
as the term “surrender” in the contract or any other riders.
The SecureSource Core 2 NY — Single Life rider covers one person who is named at contract issue.
Joint ownership and joint annuitants are not allowed for SecureSource Core 2 NY — Single Life rider.
The SecureSource Core 2 NY — Joint Life Rider covers two spouses jointly who are named at contract
issue. You may elect only the SecureSource Core 2 NY — Single Life rider or the SecureSource Core 2 NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource Core 2 NY
rider is an optional benefit that you may select for an additional annual charge.
The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet
Prospectus Supplement which may be amended from time to time by us.
The SecureSource Core 2 NY riders are not available under an inherited qualified annuity.
The SecureSource Core 2 NY
rider guarantees that, regardless of the investment performance of your contract, you will be able to
withdraw up to a certain amount each year from the contract before the annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below).
•
If there has
been an ownership change, the death of the new owner will also terminate the rider.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 71
For key
terms associated with the SecureSource Core 2 NY rider,
see “SecureSource Series Rider Terms”
section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current rider charges and the current rates for the Lifetime Payment percentages, Credit Period and Annual Credit
percentages, applicable to your contract issued to you are disclosed in the Rate Sheet Prospectus Supplement attached to this prospectus. These terms can only change as provided in this prospectus (see “Lifetime Payment Percentage” and “Annual Credits” below). We may change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate Sheet Supplement for the next effective period, we
will file a new Rate Sheet Prospectus Supplement. All historical Rate Sheet Supplements are reflected in Appendix G to this prospectus. All Rate Sheet Prospectus Supplements, including the Rate Sheet Prospectus
Supplement applicable to you, have been filed with the Securities and Exchange Commission (the “SEC”) and are also available on the Edgar system at www.sec.gov (File No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Payment, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Person is
established on the rider effective date and cannot be changed. The Covered Person is the contract owner on the rider effective date. If the owner on that date is a nonnatural person (i.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant as named
on the application. After death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining
Covered Spouse will be used when referring to the younger Covered Spouse. The Covered Spouses lives are used to determine when the Current Annual Payment is established, and the duration of the Current Annual Payments (see “Current Annual Lifetime Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and
Change of Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered Person
(Joint life: younger Covered Spouse) has reached the youngest age in the first Age Band. When the Current Annual Payment is
established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described below, the
Current Annual Payment will be recalculated.
If you withdraw less than the Current Annual Payment in a contract year, the unused portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age
in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first
Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written
notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse
has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive
a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the
owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
Remaining Annual Payment: the amount available for withdrawal for
the remainder of the contract year. The Remaining Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment. The Lifetime Payment
Percentage and Age Band are shown in the Rate Sheet Prospectus Supplement.
72 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The Age Band for the
Lifetime Payment Percentage is determined at the following times:
•
When the Current Annual Payment is established: The Age Band used to calculate the initial
Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime
Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has
been taken since the Current Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the
Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age
will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Credit Base and Benefit Base are set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The
Benefit Base will be increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be
increased by the amount of each additional purchase payment.
See “Buying Your Contract — Purchase Payments” for
purchase payment limitations.
3.
When a withdrawal is taken
If the
Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
The Benefit Base and Credit Base can be adjusted, but they will not be less than zero.
(A)
If the Current
Annual Payment is not established, Excess Withdrawal Processing will occur as follows.
The Benefit Base and Credit Base
will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal” calculated as
follows:
| |
|
the amount of the withdrawal |
| |
|
the Credit Base or Benefit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is established and the withdrawal is less than or equal to
the Remaining Annual Payment, the Benefit Base and Credit Base do not change.
(C)
If the Current Annual Payment is established and the withdrawal is greater than the
Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount calculated as follows:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how the Benefit Base and Credit Base are calculated on rider anniversaries, subject to the
maximum amount of $20 million for each, and how the Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not
decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and Credit Period are shown in the Rate Sheet Prospectus Supplement.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 73
(A)
On the first
rider anniversary
The Annual Credit equals the Credit Base 180 days
following the rider effective date multiplied by the Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base
or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary.
The Credit Base will be set to zero on the last rider anniversary
of a Credit Period after any adjustment to the Benefit Base, and there will be no additional Annual Credits unless the Credit Period restarts due to a step-up of the Benefit
Base.
The Credit Base will be permanently set to zero on the later of: (A)
the owner’s 95th birthday or (B) the rider anniversary equal to the Credit Period duration, as shown in the Rate Sheet Prospectus Supplement.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you
decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base
after any Annual Credit is added. If an Annual Step-Up is executed, Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to
determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated separately for your contract is greater than the
Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment will not be subject to Excess Withdrawal Processing provided that the following conditions
are met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
Spousal Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the
contract as the new owner under the spousal continuation provision of the contract, the
SecureSource Core 2 NY— Single Life rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource Core 2
NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary;
however, a new Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If
you Die Before the Annuitization Start Date”).
74 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
If you did not decline an
increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing —
Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in that contract year. Also, the Credit Period will restart on the next contract anniversary. The spousal continuation step-up is processed on the valuation date spousal continuation is effective.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base will be permanently reset to zero, and there will be no
additional Annual Credits. Also, the following will occur:
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established and that amount will be paid annually until the death of the Covered Person (Joint
Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market
performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will
receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses).
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The Current Annual Payment is fixed for as long as payments are made.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by Us will be made up promptly with an interest credit of 6% per annum. We reserve the right to
recover from You or Your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by Us will be subtracted, together with an interest
credit of 6% per annum.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
If the contract value is greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the
contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse
must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are allowed at rider issue. If the Owner on the rider effective date is a natural person, only the Covered Spouses can be
owners at rider issue. If there is a non-natural or revocable trust owner, one of the Covered Spouses must be the annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource Core 2 NY rider. If you elect an annuitization
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 75
start date that is earlier
than the maximum annuitization start date, the alternative fixed annuity payout option under the SecureSource Core 2 NY rider is not available.
Under the rider’s payout option, you will receive the Current Annual Payment each contract year until the death of the Covered Person (Joint Life:both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that
year. These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently
than annually. If the monthly payment is less than $20, we have the right to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the
contract. For more information about payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource Core 2 NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate.
•
Single Life: spousal continuation will terminate the rider.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will
terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the
contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will
terminate.
•
On the annuitization start date, the rider will terminate if you choose a payout option
available under the contract.
•
You may terminate the rider if your annual rider fee after any increase is more than 0.25
percentage points higher than your fee before the increase. (See “Charges —
SecureSource Core 2 NY riders charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
(Available for contract applications signed on or after 5/3/2021 but
prior to 1/1/2022)
The SecureSource 5 NY rider is
an optional benefit that you can elect at time of application for an additional charge. It may not be purchased with any other optional living benefit and certain death benefit
riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide a specified withdrawal amount annually for life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the Benefit Base and the
lifetime payment.
If the contract value is reduced to zero due to market performance, fees or charges,
or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource 5 NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to ensure that market performance will not adversely affect your ability to withdraw
income over your lifetime.
The SecureSource 5 NY rider may be not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or
withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of
currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
76 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The SecureSource 5 NY rider guarantees that, regardless of investment performance, you may take
withdrawals up to the Current Annual Payment each contract year after the Current Annual Payment is established. Your age at the time of the first withdrawal will determine the Age Band for as long as benefits are payable except as described in the Lifetime
Payment Percentage provision. The Current Annual Payment can vary based on the relationship of your contract value to the withdrawal adjustment base. On the day of your first withdrawal each contract year we determine if the Income Bonus
Percentage is available for that contract year (see “Lifetime Payment Percentage” below).
As long as your total withdrawals during the current contract year do not exceed the
Current Annual Payment, you will not be assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time,
you may withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the rider (see “Determination of Adjustments of Benefit
Values”).
Any amount we pay in excess of your contract value is subject to our financial strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available or
your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you:
•
withdraw more than the allowed withdrawal amount in a contract year, or
•
take withdrawals before the Current Annual Payment is established.
Each year, your Current Annual Payment may or may not include an Income Bonus. If the contract value is 20% or more below the Withdrawal Adjustment Base, the Income Bonus Percentage will not be available. (see Withdrawal Adjustment Base
described below).
For important considerations on whether a SecureSource 5 NY rider is appropriate for you, see “Important
SecureSource Series Rider Considerations”
section.
There are two SecureSource 5 NY riders available under your contract:
•
SecureSource 5 NY – Single Life
•
SecureSource 5 NY – Joint Life
The information in this section applies to both SecureSource 5
NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning
as the term “surrender” in the contract or any other riders
The SecureSource 5 NY — Single Life rider covers one person who is named at contract issue. Joint
ownership and joint annuitants are not allowed for SecureSource 5 NY — Single Life rider.
The SecureSource 5 NY — Joint Life Rider covers two spouses jointly who are named at contract issue.
You may elect only the SecureSource 5 NY — Single Life rider or the SecureSource 5 NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource 5 NY rider is
an optional benefit that you may select for an additional annual charge. The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet Prospectus
Supplement which may be amended from time to time by us.
The SecureSource 5 NY riders are not available under an inherited qualified annuity.
The SecureSource 5 NY rider
guarantees that, regardless of the investment performance of your contract, you will be able to withdraw up to a certain amount each year from the contract before the
annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below).
•
If there has
been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the SecureSource 5 NY rider, see “SecureSource Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current rider charges and the current rates for the Minimum Lifetime Payment
percentages, Income Bonus Percentage, Credit Period and Annual Credit percentages, applicable to your contract issued to you are disclosed in the Rate Sheet Prospectus Supplement attached to this prospectus. These terms can only change as provided in this
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 77
prospectus (see
“Lifetime Payment Percentage”, “Income Bonus percentage” and “Annual Credits” below). We may change these terms for new purchasers, upon 7
calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate Sheet Prospectus Supplement for the next effective period, we will file a new
Rate Sheet Prospectus Supplement. All historical Rate Sheet Supplements will be reflected in Appendix
G to this prospectus. All Rate Sheet
Prospectus Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed with the Securities and Exchange Commission (the “SEC”) and
are also available on the Edgar system at www.sec.gov (File No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Lifetime Payment, and
the duration of the Current Annual Payments (see “Current Annual Payment)” heading below). The Covered Person is established on the rider effective date and cannot be changed. The Covered Person is the contract owner on the rider
effective date. If the owner on that date is a nonnatural person (e.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant as named
on the application. After death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining
Covered Spouse will be used when referring to the younger Covered Spouse. The Covered Spouses lives are used to determine when the Current Annual Payment is established, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and Change of
Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered Person
(Joint life: younger Covered Spouse has reached the youngest age in the first Age Band. When the Current Annual Payment is
established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described below, the
Current Annual Payment will be recalculated. When the first withdrawal is taken in each contract year, we will determine if the Income Bonus Percentage will be included in the
Lifetime Payment Percentage for that contract year.
The Current Annual Payment can vary each contract year and includes the minimum annual lifetime payment and may also include an Income Bonus. The minimum annual lifetime payment is the guaranteed lifetime benefit amount available
for withdrawal each contract year. It is calculated by multiplying the Benefit Base by the Minimum Lifetime Payment Percentage. The Income Bonus is a potential increase to the
Current Annual Payment and is calculated by multiplying the Benefit Base by the Income Bonus Percentage. If the Income Bonus Percentage is included in the Lifetime Payment Percentage, then the income bonus is included in the Current Annual Payment.
If you withdraw less than the Current Annual Payment in a
contract year, the unused portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
the youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age
in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first
Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written
notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse
has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive
a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the
owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
Remaining Annual Payment: the amount available for withdrawal for
the remainder of the contract year. The Remaining Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment.
78 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
The Lifetime Payment
Percentage for each Age Band is shown in the Rate Sheet Prospectus Supplement.
The Age Band for the Lifetime Payment Percentage is determined at the following
times:
•
When the Current Annual Payment is established: The Age Band used to calculate the initial
Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life:
younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has
been taken since the Current Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the
Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age
will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Income Bonus Percentage: The Income Bonus Percentage may provide additional income under the rider.
Availability of the Income Bonus Percentage is determined at the time of your first withdrawal each contract year. The benefit determining percentage is a comparison of your contract value and the Withdrawal Adjustment Base. If the benefit
determining percentage is less than 20%, then the Lifetime Payment Percentage will include the Income Bonus
Percentage, as shown in the Rate Sheet Prospectus Supplement, when calculating the Current Annual Payment (unless the Lifetime Payment Percentage is set to a fixed percentage as described below).
The benefit determining percentage is calculated on each valuation date as
follows, but it will not be less than zero:
| |
|
|
| |
|
Contract value at the end of the prior valuation period |
| |
|
Withdrawal Adjustment Base at the end of the prior valuation period |
After the Current Annual Payment is established, the first withdrawal taken in each
contract year will set the Lifetime Payment Percentage to a fixed percentage for the remainder of the contract year except as noted below. Following each rider anniversary, the availability of the Income Bonus Percentage, and therefore the Lifetime Payment Percentage, can
change on each valuation date until a withdrawal is taken in that contract year. For more information on how this rider operates, please see “Appendix E: Example – Optional Living Benefits – SecureSource
5 NY Rider”.
However, at the earliest of (1) or (2) below, the Income Bonus Percentage is no
longer available, and the Lifetime Payment Percentage will equal the Minimum Lifetime Payment Percentage for as long as the benefit is payable:
(1)
when your contract value reduces to zero, or
(2)
on the
annuitization start date.
For certain periods of time at our discretion and on a non-discriminatory basis,
your Lifetime Payment Percentage may be set by us to include the Income Bonus Percentage if more favorable to you.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Withdrawal Adjustment Base, Credit Base and Benefit Base are set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The
Benefit Base, Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase
payment.
See “Buying Your Contract — Purchase Payments” for
purchase payment limitations.
3.
When a withdrawal is taken
If the
Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
The Withdrawal Adjustment Base, Benefit Base and Credit Base can be adjusted, but they will not be less than zero.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 79
(A)
The Withdrawal
Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,”
calculated as follows:
| |
|
the amount of the withdrawal |
| |
|
the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is not established, Excess Withdrawal Processing will occur
as follows.
The Benefit Base and Credit Base will be reduced
by the same proportion that the contract value is reduced using the “adjustment for withdrawal” calculation described above but substituting the Credit Base or
Benefit Base (as applicable) for the Withdrawal Adjustment Base.
(C)
If the Current Annual Payment is established and the withdrawal is less than or equal to
the Remaining Annual Payment, the Benefit Base and Credit Base do not change.
(D)
If the Current Annual Payment is established and the withdrawal is greater than the
Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated below:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how the Withdrawal Adjustment Base, Benefit Base and Credit Base are calculated on rider
anniversaries, subject to the maximum amount of $20 million for each and how the Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not
decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus Supplement.
(A)
On the first
rider anniversary
The Annual Credit equals the Credit Base 180 days
following the rider effective date multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
•
Single Life: The Benefit Base and Withdrawal Adjustment Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentages, as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior anniversary
increased by the Annual Credit and any additional purchase payments since the prior rider anniversary.
The Credit Base will be set to zero on the last rider anniversary of a Credit Period after any adjustment to the Benefit Base and there will be no additional Annual Credits unless the Credit Period restarts due to a step-up of the Benefit
Base.
The Credit Base will be permanently set to zero on the later
of: A) the rider anniversary on or after the owner’s 95th birthday or (B) the rider anniversary equal to the Credit period duration, as shown in the Rate
Sheet Supplement.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you
decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base
after any Annual Credit is added. If an Annual Step-Up is executed, the Benefit Base and Lifetime Payment
Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
80 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s
attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up
due to the maximum Benefit Base limitation.
•
The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base will be increased to the
contract value, if greater.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated
separately for your contract is greater than the Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment will not be subject to Excess Withdrawal Processing provided that the following conditions are met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
Spousal Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the
contract as the new owner under the spousal continuation provision of the contract, the
SecureSource 5 NY— Single Life rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource 5 NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary; however, a new
Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If you Die Before
the Annuitization Stat Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary. The Withdrawal Adjustment Base, if greater than zero, will be increased to the contract value if the contract value is greater. The spousal continuation
step-up is processed on the valuation date spousal continuation is effective.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base, if greater than zero, will be permanently reset to zero, and
there will be no additional Annual Credits. Also, the following will occur:
•
If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market
performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually until the death of the
Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current
Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner will receive the Benefit Base
multiplied by the Minimum Lifetime Payment Percentage paid annually until the death of the Covered Person (Joint Life: both Covered Spouses).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is less than or equal to the Remaining Annual Payment, (including RMDs that are not subject to Excess
Withdrawal Processing as described above), the Current Annual Payment will be available for the remainder of this contract year and then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to
the owner until the death of the Covered Person.
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 81
•
If the Current
Annual Payment is determined by incorrect information regarding the Covered Person's birth date, payments will be adjusted. They will be based on what would have been provided
using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be
subtracted, without interest, and/or as otherwise legally permissible.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
If the contract value is greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the
contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse
must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are allowed at rider issue. If the owner on the rider effective date is a natural person, only the Covered Spouses can be
owners at rider issue. If there is a non-natural or a revocable trust owner, one of the Covered Spouses must be the annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource 5 NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource 5 NY rider is not
available.
Under the rider’s payout option, you will receive the Current Annual Payment recalculated based on the Minimum Lifetime Payment Percentage, each contract year until the death of the Covered Person
(Joint Life: both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that year. These
annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right
to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the contract. For more information about
annuity payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource 5 NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate.
•
Single Life: spousal continuation will terminate the rider.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will
terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the
contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will
terminate.
•
On the annuitization start date, the rider will terminate if you choose a payout option
available under the contract.
•
You may terminate the rider if your annual rider fee after any increase is more than 0.25
percentage points higher than your fee before the increase. (See “Charges —
SecureSource 5 NY riders charge”).
82 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
•
When the
contract value is reduced to zero as a result of an Excess Withdrawal as described in the Rules for Surrender Section above, the rider will terminate.
•
Termination of the contract for any reason will terminate the rider.
For an example, see Appendix E.
SecureSource 5 Plus NY Rider
(Available for contract applications signed on or after 5/3/2021 but prior to 1/1/2022)
The SecureSource 5 Plus NY
rider is an optional benefit that you can elect at time of application for an additional charge. It may not be purchased with any other optional living benefit and certain death
benefit riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide a specified withdrawal amount annually for life, even
if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the Benefit Base
and the lifetime payment.
If the contract value is reduced to zero due to market performance, fees or charges,
or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource 5 Plus NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to
ensure that market performance will not adversely affect your ability to withdraw income over your lifetime.
The SecureSource 5 Plus NY rider may be
not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount
available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of
currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
•
The SecureSource 5 Plus NY
rider guarantees that, regardless of investment performance, you may take withdrawals up to the Current Annual Payment each contract year. Your age at the time of the first
withdrawal will determine the Age Band for as long as benefits are payable except as described in the Lifetime Payment Percentage provision. The Current Annual Payment can vary based on the relationship of your contract value to the Withdrawal Adjustment Base. On
the day of your first withdrawal each contract year, we determine if the Income Bonus is available for that contract year (see “Lifetime Payment Percentage”
below).
•
As long as your total withdrawals during the current contract year do not exceed the Current
Annual Payment, you will not be assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time,
you may withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the rider.
Any amount we pay in excess of your contract value is subject to our financial strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available or
your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you withdraw
more than the allowed withdrawal amount in a contract year.
Each year, your Current Annual Payment may or may not include an Income Bonus. If the
contract value is 20% or more below the Withdrawal Adjustment Base, the Income Bonus Percentage will not be available. (see Withdrawal Adjustment Base described below).
For important considerations on whether a SecureSource 5 Plus NY rider is appropriate for you, see
“Important SecureSource Series Rider
Considerations” section.
There are two SecureSource 5 Plus NY riders available under your contract:
•
SecureSource 5 Plus NY – Single Life
•
SecureSource 5 Plus NY – Joint Life
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 83
The information in this
section applies to both SecureSource 5 Plus NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning as the term “surrender” in the contract or any other riders
The SecureSource 5 Plus NY — Single Life rider covers one person who is named at contract issue.
Joint ownership and joint annuitants are not allowed for SecureSource 5 Plus NY — Single Life rider.
The SecureSource 5 Plus NY — Joint Life Rider covers two spouses jointly who are named at contract
issue. You may elect only the SecureSource 5 Plus NY — Single Life rider or the SecureSource 5 Plus NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource 5 Plus NY
rider is an optional benefit that you may select for an additional annual charge. The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet Prospectus
Supplement which may be amended from time to time by us
The SecureSource 5 Plus NY riders are not available under an inherited qualified annuity.
The SecureSource 5 Plus NY
rider guarantees that, regardless of the investment performance of your contract, you will be able to
withdraw up to a certain amount each year from the contract before the annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below). If there has been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the
SecureSource 5 Plus NY rider, see “SecureSource
Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current charges and the current rates for the Minimum Lifetime Payment percentages, Income Bonus Percentage, Credit
Period and Annual Credit percentages, applicable to your contract issued to you are disclosed in the Rate Sheet Prospectus Supplement attached to this prospectus. These terms can
only change as provided in this prospectus (see “Lifetime Payment Percentage”, “Income Bonus percentage” and “Annual Credits” below). We may
change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate Sheet Supplement for the next effective period, we will file a new Rate Sheet Prospectus Supplement.
All historical Rate Sheet Prospectus Supplements will be reflected in Appendix G to this prospectus. All
Rate Sheet Prospectus Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed with the Securities and Exchange Commission (the “SEC”) and are also available on the Edgar system at
www.sec.gov (File No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Payment, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Person is
established on the rider effective date and cannot be changed. The Covered Person is the contract owner on the rider effective date. If the owner on that date is a nonnatural person (e.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant. After
death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining Covered Spouse will be used when referring to the younger Covered Spouse. The Covered
Spouses’ lives are used to determine when the Current Annual Payment is established, and the duration of the Annual Payments (see “Current Annual Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and Change of Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered
Person (Joint life: younger Covered Spouse has reached the youngest age in the first Age Band. When the Current Annual Payment is established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the
Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described
below, the Current Annual Payment will be recalculated. When the first withdrawal is taken in each contract year, we will determine if the Income Bonus Percentage will be
included in the Lifetime Payment Percentage for the remainder of that contract year.
84 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
The Current Annual Payment
can vary each contract year and includes the minimum annual lifetime payment and may also include an Income Bonus. The minimum annual lifetime payment is the guaranteed lifetime
benefit amount available for withdrawal each contract year. It is calculated by multiplying the Benefit Base by the Minimum Lifetime Payment Percentage. The Income Bonus is a potential increase to the Current Annual Payment and is calculated by
multiplying the Benefit Base by the Income Bonus Percentage. If the Income Bonus Percentage is included in the Lifetime Payment Percentage, then the income bonus is included in the Current Annual Payment.
If you withdraw less than the Current Annual Payment in a contract
year, the unused portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
the youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit
is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already
reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the
remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner
(or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
Remaining Annual Payment: the amount available for withdrawal for
the remainder of the contract year. The Remaining Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment.
The Lifetime Payment Percentage for each Age Band is shown in the Rate Sheet Prospectus
Supplement.
The Age Band for the Lifetime Payment Percentage is determined at the following times:
•
When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the
percentage for the Covered Person’s attained age (Joint Life:
younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint Life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life:
younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-Ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current
Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current
Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment
Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Income
Bonus Percentage: The Income Bonus Percentage may provide additional income under the rider. Availability of
the Income Bonus Percentage is determined at the time of your first withdrawal each contract year. The benefit determining percentage is a comparison of your contract value and the Withdrawal Adjustment Base. If the benefit
determining percentage is less than 20%, then the Lifetime Payment Percentage will include the Income Bonus
Percentage, as shown in the Rate Sheet Prospectus Supplement, when calculating the Current Annual Payment (unless the Lifetime Payment Percentage is set to a fixed percentage as described below).
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 85
The benefit determining
percentage is calculated on each valuation date as follows, but it will not be less than zero:
| |
|
|
| |
|
Contract value at the end of the prior valuation period |
| |
|
Withdrawal Adjustment Base at the end of the prior valuation period |
After the Current Annual Payment is established, the first withdrawal taken in each
contract year will set the Lifetime Payment Percentage to a fixed percentage for the remainder of the contract year except as noted below. Following each rider anniversary, the availability of the Income Bonus Percentage, and therefore the Lifetime Payment Percentage, can
change on each valuation date until a withdrawal is taken in that contract year. For more information on how this rider operates, please see “Appendix D: Example – Optional Living Benefits – SecureSource
5 Plus NY Rider”.
However, at the earliest of (1) or (2) below, the Income Bonus Percentage is no
longer available, and the Lifetime Payment Percentage will equal the Minimum Lifetime Payment Percentage for as long as the benefit is payable:
(1)
when the contract value reduces to zero, or
(2)
on the
annuitization start date.
For certain periods of time at our discretion and on a non-discriminatory basis,
your Lifetime Payment Percentage may be set by us to include the Income Bonus Percentage if more favorable to you.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Withdrawal Adjustment Base, Credit Base and Benefit Base are set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The Benefit Base and
Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase
payment.
See “Buying Your Contract — Purchase Payments” for purchase payment
limitations.
3.
When a withdrawal is taken
If the Credit Base is
greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
The Withdrawal Adjustment Base, Benefit Base and Credit Base can be adjusted, but they will not be less than zero.
(A)
The Withdrawal Adjustment Base will be reduced by the same proportion that the contract value is reduced. The
proportional amount deducted is the “adjustment for withdrawal,” calculated as follows:
| |
|
the amount of the withdrawal |
| |
|
the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is not established, Excess Withdrawal Processing will occur
as follows. The Benefit Base and Credit Base will be reduced by the same proportion that the contract value is reduced using the “adjustment for withdrawal” calculation described above but substituting the Credit Base or Benefit Base
(as applicable) for the Withdrawal Adjustment Base.
(C)
If the Current
Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change.
(D)
If the Current Annual Payment is established and the withdrawal is greater than the
Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount calculated as follows:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
86 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
Rider
Anniversary Processing: The following describes how the Withdrawal Adjustment Base, Benefit Base and Credit
Base are calculated on rider anniversaries, subject to the maximum amount of $20 million for each and how the
Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not decline any increase to the annual
rider fee, Annual Credits may be available.
(A)
On the first rider anniversary
The Annual Credit equals the Credit Base 180 days following the rider effective date multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
•
Single Life: The Benefit Base and Withdrawal Adjustment Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentage as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider
anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary.
The Credit Base will be set to zero on the last rider anniversary of a Credit Period after any adjustment to the Withdrawal Adjustment Base and Benefit Base, and there will be no additional Annual Credits unless the Credit Period
restarts due to a step-up of the Benefit Base.
The Credit Base will be permanently set to zero on the later of: (A) the rider anniversary on or after the owner’s 95th birthday or (B) the rider anniversary equal to the Credit Period duration, as shown in the Rate Sheet Prospectus
Supplement.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the
annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are
deducted) is greater than the Benefit Base after any Annual Credit is added. If an Annual Step-Up is executed, the Benefit Base and Lifetime Payment Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s
attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual
Step-Up due to the maximum Benefit Base limitation.
•
The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base (after any Annual Credit is
added) will be increased to the contract value, if greater.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated
separately for your contract is greater than the Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment benefit amount will not be subject to Excess Withdrawal Processing provided that the following conditions are
met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 87
Spousal
Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the contract as the new owner under the spousal
continuation provision of the contract, the SecureSource 5 Plus NY— Single Life
rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource 5 Plus
NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary;
however, a new Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If
you Die Before the Annuitization Stat Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary. The Withdrawal Adjustment Base, if greater than zero, will be increased to the contract value if the contract value is greater. The spousal continuation
step-up is processed on the valuation date spousal continuation is effective.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base, if greater than zero, will be permanently reset to zero, and
there will be no additional Annual Credits. Also, the following will occur:
•
If the Current
Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current
Annual Payment would be established, and that amount then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to the owner until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as
a result of market performance, fees or charges, then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to the owner until the death of the Covered Person (Joint
Life: both Covered Spouses).
•
If the Current
Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs
that are not subject to Excess Withdrawal Processing as described above), the Current Annual Payment will be available for the remainder of this contract year and then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid
annually to the owner until the death of the Covered Person.
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your
estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally
permissible.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
88 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
If the contract value is
greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are
allowed at rider issue. If the owner on the rider effective date is a natural person, only the Covered Spouses can be owners at rider issue. If there is a non-natural or a revocable trust owner, one of the Covered Spouses must be the
annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource 5 Plus NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource 5 Plus NY rider is not available.
Under the rider’s payout option, you will receive the Current Annual Payment
recalculated based on the Minimum Lifetime Payment Percentage, each contract year until the death of the Covered Person (Joint Life: both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that year. These
annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right
to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the contract. For more information about
annuity payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource 5 Plus NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate, even if the Covered Person is still living.
•
Single Life: spousal continuation will terminate the rider, even if the Covered Person is still living.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone
other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate.
•
On the
annuitization start date, the rider will terminate, if you choose a payout option available under the contract.
•
You may
terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource 5 Plus NY rider charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
SecureSource Core NY Rider
(Available for contract applications signed prior to
5/3/2021)
The SecureSource Core NY rider
is an optional benefit that you can elect at time of application for an additional charge. It may not be purchased with any other optional living benefit or certain death benefit
riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide to you a specified withdrawal amount annually for life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the Benefit Base and
the lifetime payment.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 89
If the contract value is
reduced to zero due to market performance, fees or charges, or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments
made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource Core NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to ensure that market performance will not adversely affect your ability to withdraw
income over your lifetime.
The SecureSource Core NY rider may be not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or
withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of
currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
The SecureSource Core NY rider guarantees that, regardless of investment performance, you may take withdrawals up to the Current Annual Payment
each contract year after Current Annual Payment is established. Your age at the time of the first withdrawal will determine the Age Band for as long as benefits are payable
except as described in the Lifetime Payment Percentage provision (see “Lifetime Payment Percentage” below).
As long as your total withdrawals during the contract year do not exceed the Current Annual Payment, you will not be
assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time, you may
withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the rider (see “Determination of Adjustments of Benefit Values”).
Any amount we pay in excess of your contract value is subject to our financial
strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available or your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you:
•
withdraw more than the allowed withdrawal amount in a contract year, or
•
take withdrawals before the Current Annual Payment is established.
For important considerations on whether a SecureSource Core NY rider is appropriate for you, see
“Important SecureSource Series Rider
Considerations” section.
There are two SecureSource Core NY riders available under your contract:
•
SecureSource Core NY – Single Life
•
SecureSource Core NY – Joint Life
The information in this section applies to both SecureSource Core
NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning
as the term “surrender” in the contract or any other riders.
The SecureSource Core NY — Single Life rider covers one person who is named at contract issue. Joint
ownership and joint annuitants are not allowed for SecureSource Core NY — Single Life rider.
The SecureSource Core NY — Joint Life Rider covers two spouses jointly who are named at contract
issue. You may elect only the SecureSource Core NY — Single Life rider or the SecureSource Core NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource Core NY rider
is an optional benefit that you may select for an additional annual charge.
The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet
Prospectus Supplement which may be amended from time to time by us.
The SecureSource Core NY riders are not available under an inherited qualified annuity.
90 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
The SecureSource Core NY rider guarantees that, regardless of the investment performance of your contract,
you will be able to withdraw up to a certain amount each year from the contract before the annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below).
•
If there has
been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the SecureSource Core NY rider, see “SecureSource Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current rider charges and the current rates for the Lifetime Payment percentages, Credit Period and Annual Credit
percentages, applicable to your contract issued to you are disclosed in the Rate Sheet Prospectus Supplement attached to this prospectus. These terms can only change as provided in this prospectus (see “Lifetime Payment Percentage” and “Annual Credits” below). We may change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate Sheet Prospectus Supplement for the next effective
period, we will file a new Rate Sheet Prospectus Supplement. All historical Rate Sheet Prospectus Supplements are reflected in Appendix G to this prospectus. All Rate Sheet Prospectus Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed with the Securities and Exchange Commission (the
“SEC”) and are also available on the Edgar system at www.sec.gov (File No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Payment, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Person is
established on the rider effective date and cannot be changed. The Covered Person is the contract owner on the rider effective date. If the owner on that date is a nonnatural person (i.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant as named
on the application. After death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining
Covered Spouse will be used when referring to the younger Covered Spouse. The Covered Spouses lives are used to determine when the Current Annual Payment is established, and the duration of the Current Annual Payments (see “Current Annual Lifetime Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and
Change of Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered Person
(Joint life: younger Covered Spouse) has reached the youngest age in the first Age Band. When the Current Annual Payment is
established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described below, the
Current Annual Payment will be recalculated.
If you withdraw less than the Current Annual Payment in a contract year, the unused portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age
in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first
Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written
notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse
has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive
a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership)
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 91
has
already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust
ownership) reaches the youngest age in the first Age Band.
Remaining Annual Payment: the amount available for withdrawal for the remainder of the contract year. The Remaining Annual Payment is established
at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not
be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment. The Lifetime Payment
Percentage and Age Band are shown in the Rate Sheet Prospectus Supplement.
The Age Band for the Lifetime Payment Percentage is determined
at the following times:
•
When the Current Annual Payment is established: The Age Band used to calculate the initial
Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime
Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has
been taken since the Current Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the
Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age
will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Credit Base and Benefit Base are set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The
Benefit Base will be increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be
increased by the amount of each additional purchase payment.
See “Buying Your Contract — Purchase Payments” for
purchase payment limitations.
3.
When a withdrawal is taken
If the
Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
The Benefit Base and Credit Base can be adjusted, but they will not be less than zero.
(A)
If the Current
Annual Payment is not established, Excess Withdrawal Processing will occur as follows.
The Benefit Base and Credit Base
will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal” calculated as
follows:
| |
|
the amount of the withdrawal |
| |
|
the Credit Base or Benefit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is established and the withdrawal is less than or equal to
the Remaining Annual Payment, the Benefit Base and Credit Base do not change.
92 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
(C)
If the Current
Annual Payment is established and the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will
be reduced by an amount calculated as follows:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how the Benefit Base and Credit Base are calculated on rider anniversaries, subject to the
maximum amount of $20 million for each, and how the Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not
decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and Credit Period are shown in the Rate Sheet Prospectus Supplement.
(A)
On the first
rider anniversary
The Annual Credit equals the Credit Base 180 days
following the rider effective date multiplied by the Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base
or the Benefit Base on the prior rider anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary.
The Credit Base will be set to zero on the last rider anniversary
of a Credit Period after any adjustment to the Benefit Base, and there will be no additional Annual Credits unless the Credit Period restarts due to a step-up of the Benefit
Base.
The Credit Base will be permanently set to zero on the later of: (A)
the rider anniversary on or after the owner’s 95th birthday or (B) the rider anniversary equal to the Credit Period duration, as shown in the Rate Sheet Prospectus Supplement.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the
annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are
deducted) is greater than the Benefit Base after any Annual Credit is added. If an Annual Step-Up is executed, Benefit Base, Credit Base and Lifetime Payment Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to
determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated separately for your contract is greater than the
Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment will not be subject to Excess Withdrawal Processing provided that the following conditions
are met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 93
•
The RMD amount
is otherwise based on the requirements of section 401(a) (9), related Code provisions and regulations thereunder that were in effect on the contract date.
If the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide with your contract year and therefore may limit when you
can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
Spousal Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the
contract as the new owner under the spousal continuation provision of the contract, the
SecureSource Core NY— Single Life rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource Core NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary; however, a new
Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If you Die Before
the Annuitization Start Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary. The spousal continuation step-up is processed on the valuation date spousal continuation is effective.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base will be permanently reset to zero, and there will be no
additional Annual Credits. Also, the following will occur:
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established and that amount will be paid annually until the death of the Covered Person (Joint
Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market
performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will
receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses).
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The Current Annual Payment is fixed for as long as payments are made.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by Us will be made up promptly with an interest credit of 6% per annum. We reserve the right to
recover from You or Your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by Us will be subtracted, together with an interest
credit of 6% per annum.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
94 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
If the contract value is
greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse
must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are allowed at rider issue. If the Owner on the rider effective date is a natural person, only the Covered Spouses can be
owners at rider issue. If there is a non-natural or revocable trust owner, one of the Covered Spouses must be the annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource Core NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource Core NY rider is not
available.
Under the rider’s payout option, you will receive the Current Annual Payment each contract year until the death of the Covered Person (Joint Life:both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that
year. These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently
than annually. If the monthly payment is less than $20, we have the right to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the
contract. For more information about payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource Core NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate.
•
Single Life: spousal continuation will terminate the rider.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will
terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the
contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will
terminate.
•
On the annuitization start date, the rider will terminate if you choose a payout option
available under the contract.
•
You may terminate the rider if your annual rider fee after any increase is more than 0.25
percentage points higher than your fee before the increase. (See “Charges —
SecureSource Core NY riders charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
SecureSource Core Plus NY Rider
(Not available for contract applications signed on or after
3/30/2020)
The SecureSource Core Plus NY
rider is an optional benefit that you can elect at time of application for an additional charge. It rider may not be purchased with any other living benefit and certain death
benefit riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide to you a specified withdrawal amount annually for life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit
offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the Benefit Base and the lifetime payment. This rider also provides a guaranteed benefit base amount, provided no withdrawals are taken
and the rider does not terminate before a specified date (see Base Doubler below).
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 95
If the contract value is
reduced to zero due to market performance, fees or charges, or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments
made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource Core Plus NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to
ensure that market performance will not adversely affect your ability to withdraw income over your lifetime.
The SecureSource Core Plus NY rider may be not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or
withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of currently approved investment
options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
The SecureSource Core Plus NY rider guarantees that, regardless of investment performance, you may take withdrawals up to the Current Annual Payment
each contract year. Your age at the time of the first withdrawal will determine the Age Band for as long as benefits are payable except as described in the Lifetime Payment
Percentage provision (see “Lifetime Payment Percentage” below).
As long as your total withdrawals during the contract year do
not exceed the Current Annual Payment, you will not be assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time, you may
withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the rider (see “Determination of Adjustments of Benefit Values”).
Any amount we pay in excess of your contract value is subject to our financial
strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available, a Base Doubler is applied, or your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you withdraw more than the allowed withdrawal amount in a contract
year.
For important considerations on whether a SecureSource Core Plus NY rider is appropriate for you, see
“Important SecureSource Series Rider
Considerations” section.
There are two SecureSource Core Plus NY riders available under your contract:
•
SecureSource Core Plus NY – Single Life
•
SecureSource Core Plus NY – Joint Life
The information in this section applies to both SecureSource Core Plus NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning as the term “surrender” in the contract or any other riders
The SecureSource Core Plus NY — Single Life rider covers one person who is named at contract issue.
Joint ownership and joint annuitants are not allowed for SecureSource Core Plus NY
— Single Life rider.
The SecureSource Core Plus NY — Joint Life Rider covers two spouses jointly who are named at
contract issue. You may elect only the SecureSource Core Plus NY — Single Life rider or the SecureSource Core Plus NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource Core Plus NY
rider is an optional benefit that you may select for an additional annual charge.
The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet
Prospectus Supplement which may be amended from time to time by us.
The SecureSource Core Plus NY riders are not available under an inherited qualified annuity.
The SecureSource Core Plus NY
rider guarantees that, regardless of the investment performance of your contract, you will be able to
withdraw up to a certain amount each year from the contract before the annuitization start date until:
•
Single Life: death (see “At Death” heading below).
96 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below). If there has been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the
SecureSource Core Plus NY rider, see
“SecureSource Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current rider fees and the current rates for the Lifetime Payment percentages, Credit Period, Annual Credit
percentages and Base Doubler age, applicable to your contract issued to you are disclosed in the Rate Sheet
Prospectus Supplement attached to this prospectus. These terms can only change as provided in this prospectus
(see “Lifetime Payment Percentage”, “Annual Credits” and “Base Doubler” below). We may change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate
Sheet Supplement for the next effective period we will file a new Rate Sheet Prospectus Supplement. All historical Rate Sheet Supplement are reflected in Appendix G to
this prospectus. All Rate Sheet Prospectus Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed with the Securities and Exchange
Commission (the “SEC”) and are also available on the Edgar system at www.sec.gov (File No.
333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Payment, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Person is
established on the rider effective date and cannot be changed. The Covered Person is the contract owner on the rider effective date. If the owner on that date is a nonnatural person (e.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant. After
death or dissolution of marriage that leaves only one of the spouses as the owner (for non-natural owners, the annuitant), that remaining Covered Spouse will be used when referring to the younger Covered Spouse. The Covered Spouses
lives are used to determine when the Current Annual Payment is established, and the duration of the Current Annual Payments (see “Current Annual Payment” heading
below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and Change of Ownership – Joint
Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered Person
(Joint life: younger Covered Spouse) has reached the youngest age in the first Age Band. When the Current Annual Payment is
established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described below, the
Current Annual Payment will be recalculated.
If you withdraw less than the Current Annual Payment in a contract year, the unused portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
the youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age
in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first
Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written
notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse
has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive
a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the
owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 97
Remaining
Annual Payment: the amount available for withdrawal for the remainder of the contract year. The Remaining
Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment
benefit amount equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment.
The Lifetime Payment Percentage for each Age Band is shown in the Rate Sheet
Prospectus.
The Age Band for the Lifetime Payment Percentage is determined at the following times:
•
When the Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the
percentage for the Covered Person’s attained age (Joint Life:
younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint Life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life:
younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-Ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current
Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current
Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment
Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Joint Life:Base Doubler Date (for contracts with applications signed
before 5/1/2020): If the Base Doubler is greater than zero, the Base Doubler Date may be reset in the event
of: (1) dissolution of marriage; or (2) a Covered Spouse’s death when the death benefit is not payable. On the date we receive written notification of these events, the
Base Doubler Date will be set to the later of: (1) the rider anniversary on or following the remaining Covered Spouse reaching the Base Doubler age shown in the Rate Sheet Prospectus Supplement; (2) the 12th rider anniversary; or (3) the next rider anniversary.
Base Doubler Date (for contracts with applications signed on/after 5/1/2020): If the Base Doubler is
greater than zero, the Base Doubler Date may be reset in the event of: (1) dissolution of marriage; or (2) a Covered Spouse’s death when the death benefit is not payable. On the date we receive written notification of these events, the Base Doubler
Date will be set to the later of: (1) the rider anniversary on or following the remaining Covered Spouse reaching the Base Doubler age; (2) the rider anniversary equal to the Base Doubler duration (both as shown in the Rate Sheet Prospectus
Supplement); or (3) the next rider anniversary.
The Base Doubler Date may also be reset if there is a spousal continuation. See the
Spouse’s Option to continue contract provision.
For contracts with applications signed before 5/1/2020: In the event of remarriage of the Covered Spouses to each other before the Base Doubler Date, the Base Doubler Date
will be reset to the later of the 12th rider anniversary; or the rider anniversary on or following the younger Covered Spouse reaching the Base Double age shown in the Rate Sheet
Prospectus Supplement.
For contracts with applications signed on/after 5/1/2020: In the event of remarriage of the Covered Spouses to each other before the Base Doubler Date, the Base Doubler Date
will be reset to the later of the rider anniversary equal to the Base Doubler duration, or the rider anniversary on or following the younger Covered Spouse reaching the Base
Double age (both shown in the Rate Sheet Prospectus Supplement).
Determination of Adjustments of Benefit Values: Your values are determined at the following times and are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Credit Base and
Benefit Base are set equal to the initial purchase payment.
The Base Doubler is set equal to the initial purchase payment multiplied by the applicable Base Doubler Percentage, as shown in the table below.
| |
|
Payments received before the first rider anniversary
|
|
98 RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus
| |
|
Payments received thereafter |
|
2.
When an additional purchase payment is made
The Benefit Base will be
increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase payment.
If the Base Doubler is greater than zero, the Base Doubler will be increased by the
amount of each additional purchase payment multiplied by the applicable Base Doubler Percentage as shown in the table above.
See “Buying Your Contract — Purchase Payments” for purchase payment limitations.
3.
When a withdrawal is taken
If the Credit Base is
greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
If a withdrawal is taken before the Base Doubler Date, the Base Doubler is permanently set to
zero.
The Benefit Base and Credit Base can be adjusted, but they will not be less than zero.
(A)If the withdrawal is less than or equal to
the Remaining Annual Payment, the Benefit Base and Credit Base do not
(B) If the withdrawal is greater than the Remaining Annual Payment, Excess Withdrawal Processing will occur, and the
Benefit Base and Credit Base will be reduced by an amount as calculated below:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how the Benefit Base and Credit Base are calculated on rider anniversaries, subject to the
maximum amount of $20 million for each, and how the Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not
decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shownin the Rate Sheet Prospectus Supplement.
(A)
On the first rider anniversary
The Annual Credit equals the Credit Base 180 days following the rider effective date multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
The Benefit Base will be set to the greater of:
(i)
the current Benefit Base, or
(ii)
the Benefit Base 180 days following the rider effective date increased by the Annual Credit
and any additional purchase payments since 180 days following the rider effective
date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentages, as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
The Credit Base will be set to zero on the last rider anniversary of a Credit Period after any adjustment to the Benefit Base, and there will be no additional Annual Credits unless the Credit Period restarts due to a step-up of the
Benefit Base.
The Credit Base will be permanently set to zero on the later of: (A) the rider anniversary on or after the owner’s 95th birthday or (B) the rider anniversary equal to the Credit Period duration, as shown in the Rate Sheet Prospectus
Supplement.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 99
•
Base Doubler: If you did not take any withdrawals since the rider effective date and you did not decline an increase to the Annual
Rider Fee on the Base Doubler Date, the Benefit Base (after any Annual Credit is added) will be increased to the Base Doubler if greater. The Base Doubler will be permanently set
to zero on the Base Doubler Date (after any adjustment to the Benefit Base). It is important to remember that the 200 % Base Doubler percentage only applies to purchase payments received in the first year. After the first year, 100% of purchase payments will be added to the Base
Doubler rather than 200%.
The Base Doubler Date may also be reset if there is a spousal
continuation. See the Spouse’s Option to continue contract provision. In the event of remarriage of the Covered Spouses to each other before the Base Doubler Date, the Base Doubler Date will be reset to the later of the rider anniversary equal to the Credit Period duration, as shown
in the Rate Sheet Prospectus Supplement or the rider anniversary on or following the 70th birthday of the younger Covered Spouse.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the
annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are
deducted) is greater than the Benefit Base after any Annual Credit is added. If an Annual Step-Up is executed, the Benefit Base, Credit base and Lifetime Payment Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added or Base Doubler is applied) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s
attained age) on the rider anniversary is in a higher Age Band then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up
due to the maximum Benefit Base limitation.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated
separately for your contract is greater than the Current Annual Payment, the portion of your RMD that exceeds the benefit amount will not be subject to Excess Withdrawal Processing provided that the following conditions are
met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. Any withdrawals (including RMDs) before the Base Doubler Date will permanently set the Base Doubler to zero. See Appendix F for additional information.
Spousal Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the
contract as the new owner under the spousal continuation provision of the contract, the
SecureSource Core Plus NY— Single Life rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource Core Plus
NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary;
however, a new Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If
you Die Before the Annuitization Start Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal
continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary.
The spousal continuation step-up is processed on the valuation date spousal continuation is effective.
For contracts with applications signed before 5/1/2020: If the Base Doubler is greater than
zero, the Base Doubler Date will be set to the later of: (1) the rider anniversary on or following the remaining Covered Spouse reaching the Base Doubler age shown in the Rate Sheet Prospectus Supplement; (2) the 12th rider anniversary; or (3) the next rider anniversary.
100 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
For contracts with applications signed on/after 5/1/2020: If the Base Doubler is greater than zero, the Base Doubler Date will be set to the later of: (1) the rider anniversary
on or following the remaining Covered Spouse reaching the Base Doubler age; (2) the rider anniversary equal to the Credit Period Base Doubler duration, (both as shown in the Rate
Sheet Prospectus Supplement); or (3) the next rider anniversary.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base and Base Doubler, if greater than zero, will be permanently
reset to zero, and there will be no additional Annual Credits and no Base Doubler will be applied. Also, the following will occur:
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of market performance, fees or charges, then the owner must wait until the Current Annual Payment would be established and that amount will be paid annually until the death of the Covered Person (Joint
Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of market
performance, fees or charges, or as a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), then the owner will
receive the Current Annual Payment paid annually until the death of the Covered Person (Joint Life: both Covered Spouses).
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The Current Annual Payment is fixed for as long as payments are made.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by Us will be made up promptly with an interest credit of 6% per annum. We reserve the right to
recover from You or Your estate any amounts overpaid. If there are any future payments under this rider, overpayments made by Us will be subtracted, together with an interest
credit of 6% per annum.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse
must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are allowed at rider issue. If the Owner on the rider effective date is a natural person, only the Covered Spouses can be
owners at rider issue. If there is a non-natural or revocable trust owner, one of the Covered Spouses must be the annuitant at rider issue.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not available or if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
If the contract value is greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the
contract under the spousal continuation option.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 101
Annuity
Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start Date”) , you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource Core Plus NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource Core Plus NY rider is not available.
Under the rider’s payout option, you will receive the Current Annual Payment
each contract year until the death of the Covered Person (Joint Life: both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that year. These annualized amounts will be paid in monthly installments. If the monthly payment is
less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right to make a lump sum payment equal to the present value of any remaining future
payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the contract. For more information about payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource Core Plus NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate.
•
Single Life: spousal continuation will terminate the rider.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will
terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the
contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will
terminate.
•
On the annuitization start date, the rider will terminate, if you choose a payout option
available under the contract.
•
You may terminate the rider if your annual rider fee after any increase is more than 0.25
percentage points higher than your fee before the increase. (See “Charges —
SecureSource Core Plus NY rider charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
(Available for contract applications signed prior to
5/3/2021)
The SecureSource 4 NY rider is
an optional benefit that you can elect at time of application for an additional charge. It may not be purchased with any other optional living benefit and certain death benefit
riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide to you a specified withdrawal amount annually for life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the Benefit Base and
the lifetime payment.
If the contract value is reduced to zero due to market performance, fees or charges,
or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource 4 NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to ensure that market performance will not adversely affect your ability to withdraw
income over your lifetime.
The SecureSource 4 NY rider may be not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or
withdrawals that exceed the amount available under the rider (i.e. Excess Withdrawals); or
102 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
•
you want to
invest in funds other than the approved investment options. For a list of currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit
Riders”.
The SecureSource 4 NY rider guarantees that, regardless of investment performance, you may take
withdrawals up to the Current Annual Payment each contract year after the Current Annual Payment is established. Your age at the time of the first withdrawal will determine the Age Band for as long as benefits are payable except as described in the Lifetime
Payment Percentage provision. The Current Annual Payment can vary based on the relationship of your contract value to the withdrawal adjustment base. On the day of your first withdrawal each contract year, we determine if the Income Bonus
is available for that contract year (see “Lifetime Payment Percentage” below).
As long as your total withdrawals during the current contract year do not exceed the
Current Annual Payment, you will not be assessed a surrender charge. If you withdraw a larger amount, the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time,
you may withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the rider (see “Determination of Adjustments of Benefit
Values”).
Any amount we pay in excess of your contract value is subject to our financial strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available or
your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you:
•
withdraw more than the allowed withdrawal amount in a contract year, or
•
take withdrawals before the Current Annual Payment is established.
Each year, your Current Annual Payment may or may not include an Income Bonus. If the contract value is 20% or more below the Withdrawal Adjustment Base, the Income Bonus Percentage will not be available. (see Withdrawal Adjustment Base
described below).
For important considerations on whether a SecureSource 4 NY rider is appropriate for you, see “Important
SecureSource Series Rider Considerations”
section.
There are two SecureSource 4 NY riders available under your contract:
•
SecureSource 4 NY – Single Life
•
SecureSource 4 NY – Joint Life
The information in this section applies to both SecureSource 4
NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning
as the term “surrender” in the contract or any other riders
The SecureSource 4 NY — Single Life rider covers one person who is named at contract issue. Joint
ownership and joint annuitants are not allowed for SecureSource 4 NY — Single Life rider.
The SecureSource 4 NY — Joint Life Rider covers two spouses jointly who are named at contract issue.
You may elect only the SecureSource 4 NY — Single Life rider or the SecureSource 4 NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource 4 NY rider is
an optional benefit that you may select for an additional annual charge. The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet Prospectus
Supplement which may be amended from time to time by us.
The SecureSource 4 NY riders are not available under an inherited qualified annuity.
The SecureSource 4 NY rider
guarantees that, regardless of the investment performance of your contract, you will be able to withdraw up to a certain amount each year from the contract before the
annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below).
•
If there has
been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the SecureSource 4 NY rider, see “SecureSource Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 103
The current rider charges
and the current rates for the Minimum Lifetime Payment percentages, Income Bonus Percentage, Credit Period and Annual Credit percentages, applicable to your contract issued to
you are disclosed in the Rate Sheet Prospectus Supplement attached to this prospectus. These terms can only change as provided in this prospectus (see “Lifetime Payment Percentage”, “Income Bonus percentage” and “Annual Credits” below). We may change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the
terms contained in a Rate Sheet Prospectus Supplement for the next effective period we will file a new Rate Sheet Prospectus Supplement. All historical Rate Sheet Supplements
will be reflected in Appendix G to this prospectus. All Rate Sheet Prospectus Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed
with the Securities and Exchange Commission (the “SEC”) and are also available on the Edgar system at www.sec.gov (File No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Lifetime Payment, and the duration of the Current Annual
Payments (see “Current Annual Payment)” heading below). The Covered Person is established on the rider effective date and cannot be changed. The Covered Person is the
contract owner on the rider effective date. If the owner on that date is a nonnatural person (e.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant as named
on the application. After death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining
Covered Spouse will be used when referring to the younger Covered Spouse. The Covered Spouses lives are used to determine when the Current Annual Payment is established, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and Change of
Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered Person
(Joint life: younger Covered Spouse has reached the youngest age in the first Age Band. When the Current Annual Payment is
established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described below, the
Current Annual Payment will be recalculated. When the first withdrawal is taken in each contract year, we will determine if the Income Bonus Percentage will be included in the
Lifetime Payment Percentage for the remainder of that contract year.
The Current Annual Payment can vary each contract year and includes the
minimum annual lifetime payment and may also include an Income Bonus. The minimum annual lifetime payment is the guaranteed lifetime benefit amount available for withdrawal each contract year. It is calculated by multiplying the Benefit Base by the Minimum Lifetime
Payment Percentage. The Income Bonus is a potential increase to the Current Annual Payment and is calculated by multiplying the Benefit Base by the Income Bonus Percentage. If the Income Bonus Percentage is included in the Lifetime
Payment Percentage, then the income bonus is included in the Current Annual Payment.
If you withdraw less than the Current Annual Payment in a contract year, the unused
portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
the youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age
in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first
Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written
notice when the death benefit is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse
has already reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive
a written notice if the remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the
owner (or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
104 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Remaining
Annual Payment: the amount available for withdrawal for the remainder of the contract year. The Remaining
Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment.
The Lifetime Payment Percentage for each Age Band is shown in the Rate Sheet Prospectus
Supplement.
The Age Band for the Lifetime Payment Percentage is determined at the following times:
•
When the
Current Annual Payment is established: The Age Band used to calculate the initial Current Annual Payment is the percentage for the Covered Person’s attained age (Joint life: younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment was established and no increase to the annual rider fee has
been declined, and if the Covered Person's new attained age (Joint Life:
younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage.
•
Upon Annual Step-Ups (see “Annual Step-ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has
been taken since the Current Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the
Current Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age
will be used to determine the Age Band for the Lifetime Payment Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Income Bonus Percentage: The Income Bonus Percentage may provide additional income under the rider.
Availability of the Income Bonus Percentage is determined at the time of your first withdrawal each contract year. The benefit determining percentage is a comparison of your contract value and the Withdrawal Adjustment Base. If the benefit
determining percentage is less than 20%, then the Lifetime Payment Percentage will include the Income Bonus
Percentage, as shown in the Rate Sheet Prospectus Supplement, when calculating the Current Annual Payment (unless the Lifetime Payment Percentage is set to a fixed percentage as described below).
The benefit determining percentage is calculated on each valuation date as
follows, but it will not be less than zero:
| |
|
|
| |
|
Contract value at the end of the prior valuation period |
| |
|
Withdrawal Adjustment Base at the end of the prior valuation period |
After the Current Annual Payment is established, the first withdrawal taken in each
contract year will set the Lifetime Payment Percentage to a fixed percentage for the remainder of the contract year except as noted below. Following each rider anniversary, the availability of the Income Bonus Percentage, and therefore the Lifetime Payment Percentage, can
change on each valuation date until a withdrawal is taken in that contract year. For more information on how this rider operates, please see “Appendix E: Example – Optional Living Benefits – SecureSource
4 NY Rider”.
However, at the earliest of (1) or (2) below, the Income Bonus Percentage is no
longer available and the Lifetime Payment Percentage will equal the Minimum Lifetime Payment Percentage for as long as the benefit is payable:
(1)
when your contract value reduces to zero, or
(2)
on the
annuitization start date.
For certain periods of time at our discretion and on a non-discriminatory basis,
your Lifetime Payment Percentage may be set by us to include the Income Bonus Percentage if more favorable to you.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Withdrawal Adjustment Base, Credit Base and Benefit Base are set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The
Benefit Base, Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase
payment.
See “Buying Your Contract — Purchase Payments” for
purchase payment limitations.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 105
3.
When a withdrawal is taken
If the Credit Base is greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
The Withdrawal Adjustment Base, Benefit Base and Credit Base can be
adjusted, but they will not be less than zero.
(A)
The Withdrawal Adjustment Base will be reduced by the same proportion that the contract
value is reduced. The proportional amount deducted is the “adjustment for withdrawal,” calculated as follows:
| |
|
the amount of the withdrawal |
| |
|
the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is not established, Excess Withdrawal Processing will occur
as follows.
The Benefit Base and Credit Base will be reduced
by the same proportion that the contract value is reduced using the “adjustment for withdrawal” calculation described above but substituting the Credit Base or
Benefit Base (as applicable) for the Withdrawal Adjustment Base.
(C)
If the Current Annual Payment is established and the withdrawal is less than or equal to
the Remaining Annual Payment, the Benefit Base and Credit Base do not change.
(D)
If the Current Annual Payment is established and the withdrawal is greater than the
Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount as calculated below:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how the Withdrawal Adjustment Base, Benefit Base and Credit Base are calculated on rider
anniversaries, subject to the maximum amount of $20 million for each and how the Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not
decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus Supplement.
(A)
On the first
rider anniversary
The Annual Credit equals the Credit Base 180 days
following the rider effective date multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
•
Single Life: The Benefit Base and Withdrawal Adjustment Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentages, as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior anniversary
increased by the Annual Credit and any additional purchase payments since the prior rider anniversary.
The Withdrawal Adjustment Base will be set as follows:
(A)
if no
withdrawals have been taken, the Withdrawal Adjustment Base will be set to the Benefit Base determined above, or
106 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
(B)
if any
withdrawals have been taken, the Withdrawal Adjustment Base will be set to the amount as calculated below:
| |
|
the Withdrawal Adjustment Base on the rider anniversary (but prior to rider anniversary processing) |
| |
|
the Benefit Base determined above |
| |
|
the Benefit Base on the rider anniversary (but prior to rider anniversary processing) |
The Credit Base will be set to zero on the last rider anniversary of a
Credit Period after any adjustment to the Withdrawal Adjustment Base and Benefit Base, and there will be no additional Annual Credits unless the Credit Period restarts due to a step-up of the Benefit Base.
The Credit Base will be permanently set to zero on the later of: A)
the rider anniversary on or after the owner’s 95th birthday or (B) the rider anniversary equal to the Credit period duration, as shown in the Rate Sheet Supplement.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you
decline any increase to the annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are deducted) is greater than the Benefit Base
after any Annual Credit is added. If an Annual Step-Up is executed, the Benefit Base and Lifetime Payment
Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s
attained age) on the rider anniversary is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals and even if there is no Annual Step-Up of the Benefit Base due to the
maximum Benefit Base limitation. The higher Age Band will be used even if there was no Annual Step-Up due to the maximum Benefit Base limitation.
•
The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual
rider fee, the Withdrawal Adjustment Base (after any Annual Credit is added) will be increased to the contract value, if greater.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated
separately for your contract is greater than the Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment will not be subject to Excess Withdrawal Processing provided that the following conditions are met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
Spousal Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the
contract as the new owner under the spousal continuation provision of the contract, the
SecureSource 4 NY— Single Life rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource 4 NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary; however, a new
Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If you Die Before
the Annuitization Start Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary. The Withdrawal Adjustment Base, if greater than zero, will be increased to the contract value if the contract value is greater. The spousal continuation
step-up is processed on the valuation date spousal continuation is effective.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 107
Rules for
Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be
taken from all accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base, if greater than zero,
will be permanently reset to zero, and there will be no additional Annual Credits. Also, the following will occur:
•
If the Current Annual Payment is not established and if the contract value is reduced to zero as a result of market
performance, fees or charges, then the owner must wait until the Current Annual Payment would be established, and the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually until the death of the
Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above).
•
If the Current
Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner will receive the Benefit Base
multiplied by the Minimum Lifetime Payment Percentage paid annually until the death of the Covered Person (Joint Life: both Covered Spouses).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is less than or equal to the Remaining Annual Payment, (including RMDs that are not subject to Excess
Withdrawal Processing as described above), the Current Annual Payment will be available for the remainder of this contract year and then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to
the owner until the death of the Covered Person.
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your
estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally
permissible.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
If the contract value is greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the
contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse
must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are allowed at rider issue. If the owner on the rider effective date is a natural person, only the Covered Spouses can be
owners at rider issue. If there is a non-natural or a revocable trust owner, one of the Covered Spouses must be the annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource 4 NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource 4 NY rider is not
available.
Under the rider’s payout option, you will receive the Current Annual Payment recalculated based on the Minimum
108 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Lifetime Payment
Percentage, each contract year until the death of the Covered Person (Joint Life: both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that
year. These annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right
to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the contract. For more information about
annuity payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
The rider payout option may be greater or less than other payout options available under the contract. You should
consider your payout options carefully and consult your financial advisor before making a determination.
The SecureSource 4 NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate.
•
Single Life: spousal continuation will terminate the rider.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will
terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone other than a Covered Spouse continues the
contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will
terminate.
•
On the annuitization start date, the rider will terminate if you choose a payout option
available under the contract.
•
You may terminate the rider if your annual rider fee after any increase is more than 0.25
percentage points higher than your fee before the increase. (See “Charges —
SecureSource 4 NY riders charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
SecureSource 4 Plus NY Rider
(Available for contract applications signed prior to
5/3/2021)
The SecureSource 4 Plus NY
rider is an optional benefit that you can elect at time of application for an additional charge. It may not be purchased with any other optional living benefit and certain death
benefit riders (ROPP Death Benefit and MAV Death Benefit). This benefit is intended to provide to you a specified withdrawal amount annually for life, even if your contract value is zero, subject to the terms and provisions described in this section. Additionally, this benefit offers an Annual Credit feature and a step-up feature to lock in contract anniversary gains to increase the
Benefit Base and the lifetime payment.
If the contract value is reduced to zero due to market performance, fees or charges,
or a withdrawal that does not exceed the amount available under the rider, then you will receive lifetime payments made by us as described in the “Other provisions - Rules for Surrender.” However, the contract and rider will terminate if the contract value goes to zero due to an excess withdrawal. If you die before the contract value is depleted, you will not receive any monetary
value from the rider.
The SecureSource 4 Plus NY rider may be appropriate for you if:
•
you intend to make periodic withdrawals from your annuity contract; and
•
you wish to
ensure that market performance will not adversely affect your ability to withdraw income over your lifetime.
The SecureSource 4 Plus NY rider may be
not appropriate for you if:
•
you anticipate the need for withdrawals before the lifetime benefit is established or withdrawals that exceed the amount
available under the rider (i.e. Excess Withdrawals); or
•
you want to invest in funds other than the approved investment options. For a list of
currently approved investment options, see “Investment Allocation Restrictions for Certain Benefit Riders”.
•
The SecureSource 4 Plus NY
rider guarantees that, regardless of investment performance, you may take withdrawals up to the Current Annual Payment each contract year. Your age at the time of the first
withdrawal will determine the Age Band for as long as benefits are payable except as described in the Lifetime Payment Percentage provision. The
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 109
Current
Annual Payment can vary based on the relationship of your contract value to the Withdrawal Adjustment Base. On the day of your first withdrawal each contract year, we determine
if the Income Bonus is available for that contract year (see “Lifetime Payment Percentage” below).
•
As long as
your total withdrawals during the current contract year do not exceed the Current Annual Payment, you will not be assessed a surrender charge. If you withdraw a larger amount,
the excess amount will be assessed any applicable surrender charges and benefits will be reduced in accordance with Excess Withdrawal Processing. At any time, you may withdraw any amount up to your entire surrender value, subject to Excess Withdrawal Processing under the
rider.
Any amount we pay in excess of your contract value is subject to our financial
strength and claims-paying ability.
Subject to conditions and limitations, the Current Annual Payment can be increased if an Annual Credit is available or your contract value has increased above the Benefit Base on a rider anniversary.
Your benefits under the rider can be reduced if you withdraw more than the
allowed withdrawal amount in a contract year.
Each year, your Current Annual Payment may or may not include an Income Bonus. If the
contract value is 20% or more below the Withdrawal Adjustment Base, the Income Bonus Percentage will not be available. (see Withdrawal Adjustment Base described below).
For important considerations on whether a SecureSource 4 Plus NY rider is appropriate for you, see
“Important SecureSource Series Rider
Considerations” section.
There are two SecureSource 4 Plus NY riders available under your contract:
•
SecureSource 4 Plus NY – Single Life
•
SecureSource 4 Plus NY – Joint Life
The information in this section applies to both SecureSource 4 Plus
NY riders, unless otherwise noted.
For the purpose of this rider, the term “withdrawal” has the same meaning
as the term “surrender” in the contract or any other riders
The SecureSource 4 Plus NY — Single Life rider covers one person who is named at contract issue.
Joint ownership and joint annuitants are not allowed for SecureSource 4 Plus NY — Single Life rider.
The SecureSource 4 Plus NY — Joint Life Rider covers two spouses jointly who are named at contract
issue. You may elect only the SecureSource 4 Plus NY — Single Life rider or the SecureSource 4 Plus NY — Joint Life rider, not both, and you may not switch riders later.
You must elect the rider when you purchase your contract. The rider effective date will be the contract issue date.
The SecureSource 4 Plus NY
rider is an optional benefit that you may select for an additional annual charge. The current issue ages for Single Life and Joint Life are disclosed in the Rate Sheet Prospectus
Supplement which may be amended from time to time by us
The SecureSource 4 Plus NY riders are not available under an inherited qualified annuity.
The SecureSource 4 Plus NY
rider guarantees that, regardless of the investment performance of your contract, you will be able to
withdraw up to a certain amount each year from the contract before the annuitization start date until:
•
Single Life: death (see “At Death” heading below).
•
Joint Life: the death of the last surviving Covered Spouse (see “Joint Life
only: Covered Spouses” and “At Death” headings below). If there has been an ownership change, the death of the new owner will also terminate the rider.
For key terms associated with the
SecureSource 4 Plus NY rider, see “SecureSource
Series Rider Terms” section above.
RATE SHEET PROSPECTUS SUPPLEMENT
The current rider charges and the current rates for the Minimum Lifetime Payment percentages, Income Bonus Percentage,
Credit Period and Annual Credit percentages, applicable to your contract issued to you are disclosed in the Rate Sheet Prospectus Supplement attached to this prospectus. These
terms can only change as provided in this prospectus (see “Lifetime Payment Percentage”, “Income Bonus percentage” and “Annual Credits”
below.). We may change these terms for new purchasers, upon 7 calendar days prior notice. At least 7 calendar days before we change the terms contained in a Rate Sheet Supplement for the next effective period, we will file a new Rate Sheet Supplement.
All historical Rate Sheet Prospectus Supplements will be reflected in Appendix G to this prospectus. All
110 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Rate Sheet Prospectus
Supplements, including the Rate Sheet Prospectus Supplement applicable to you, have been filed with the Securities and Exchange Commission (the “SEC”) and are also
available on the Edgar system at www.sec.gov (File No. 333-230375).
current annual payment Description
Single Life only: Covered Person: the person whose life is used to determine the Current Annual Payment, and the duration of the Current Annual Payments (see “Current Annual Payment” heading below). The Covered Person is
established on the rider effective date and cannot be changed. The Covered Person is the contract owner on the rider effective date. If the owner on that date is a nonnatural person (e.g., an irrevocable trust or corporation) or a revocable trust, the Covered Person is the annuitant.
Joint Life only: Covered Spouses: the contract owner on the rider effective date and their spouse, as named on the
application for as long as the marriage is valid and remains in effect. If the contract owner on the rider effective date is a nonnatural person or a revocable trust, the Covered Spouses are the annuitant and the spouse of the annuitant. After
death or dissolution of marriage that leaves only one of the Covered Spouses as the owner (for non-natural owners, the annuitant), that remaining Covered Spouse will be used when referring to the younger Covered Spouse. The Covered
Spouses’ lives are used to determine when the Current Annual Payment is established, and the duration of the Annual Payments (see “Current Annual Payment” heading below). The Covered Spouses are established on the rider effective date and cannot be changed. For more details, see “Assignment and Change of Ownership – Joint Life” section below.
Current Annual Payment: the benefit available for withdrawal each contract year after the Covered
Person (Joint life: younger Covered Spouse has reached the youngest age in the first Age Band. When the Current Annual Payment is established and at all times thereafter, the Current Annual Payment is equal to the Benefit Base multiplied by the
Lifetime Payment Percentage. Anytime the Lifetime Payment Percentage or the Benefit Base changes as described
below, the Current Annual Payment will be recalculated. When the first withdrawal is taken in each contract year, we will determine if the Income Bonus Percentage will be included in the Lifetime Payment Percentage for the remainder of that
contract year.
The Current Annual Payment can vary each contract year and includes the minimum
annual lifetime payment and may also include an Income Bonus. The minimum annual lifetime payment is the guaranteed lifetime benefit amount available for withdrawal each contract year. It is calculated by multiplying the Benefit Base by the Minimum Lifetime
Payment Percentage. The Income Bonus is a potential increase to the Current Annual Payment and is calculated by multiplying the Benefit Base by the Income Bonus Percentage. If the Income Bonus Percentage is included in the Lifetime
Payment Percentage, then the income bonus is included in the Current Annual Payment.
If you withdraw less than the Current Annual Payment in a contract year, the unused
portion does not carry over to future contract years.
Single Life: The Current Annual Payment is established on the later of the rider effective date if the Covered Person has reached
the youngest age in the first Age Band, or the date the Covered Person’s attained age equals the youngest age in the first Age Band.
Joint Life: The Current Annual Payment is established on the earliest of the
following dates:
•
The rider effective date if the younger Covered Spouse has already reached the youngest age in the first Age Band.
•
The date the younger Covered Spouse’s attained age equals the youngest age in the first Age Band.
•
Upon the first death of a Covered Spouse, then either: (a) the date we receive a written notice when the death benefit
is not payable and the surviving Covered Spouse has already reached the youngest age in the first Age Band, (b) the date spousal continuation is effective when the death benefit is payable and the surviving Covered Spouse has already
reached the youngest age in the first Age Band, or (c) the date the surviving Covered Spouse reaches the youngest age in the first Age Band.
•
Following dissolution of marriage of the Covered Spouses, then either (a) the date we receive a written notice if the
remaining Covered Spouse who is the owner (or annuitant in the case of nonnatural or revocable trust ownership) has already reached the youngest age in the first Age Band, or (b) the date the remaining Covered Spouse who is the owner
(or annuitant in the case of nonnatural or revocable trust ownership) reaches the youngest age in the first Age Band.
Remaining Annual Payment: the amount available for withdrawal for
the remainder of the contract year. The Remaining Annual Payment is established at the same time as the Current Annual Payment. The Remaining Annual Payment equals the Current Annual Payment less all withdrawals in the current contract year, but it will not be less than zero.
Lifetime Payment Percentage: used to calculate the Current Annual Payment.
The Lifetime Payment Percentage for each Age Band is shown in the Rate Sheet Prospectus
Supplement.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 111
The Age Band for the
Lifetime Payment Percentage is determined at the following times:
•
When the Current Annual Payment is established: The Age Band used to calculate the initial
Current Annual Payment is the percentage for the Covered Person’s attained age (Joint Life: younger Covered Spouse’s attained age).
•
On the Covered Person’s subsequent birthdays (Joint Life: younger Covered Spouse’s subsequent birthdays): If no withdrawal has been taken since the Current Annual Payment
was established and no increase to the annual rider fee has been declined, and if the Covered Person's new attained age (Joint Life: younger Covered Spouse's attained age) is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment
Percentage.
•
Upon Annual Step-Ups (see “Annual Step-Ups” below).
•
For the Joint life rider, upon death or change in marital status: (A) If no withdrawal has been taken since the Current
Annual Payment was established and no increase in the annual rider fee has been declined, the Lifetime Payment Percentage will be reset based on the Age Band for the remaining Covered Spouse’s attained age. (B) If the Current
Annual Payment is not established but the remaining Covered Spouse has reached the youngest age in the first Age Band, the remaining Covered Spouse’s attained age will be used to determine the Age Band for the Lifetime Payment
Percentage. In the event of remarriage of the Covered Spouses to each other, the Lifetime Payment Percentage used is the percentage for the younger Covered Spouse’s attained age.
Income
Bonus Percentage: The Income Bonus Percentage may provide additional income under the rider. Availability of
the Income Bonus Percentage is determined at the time of your first withdrawal each contract year. The benefit determining percentage is a comparison of your contract value and the Withdrawal Adjustment Base. If the benefit
determining percentage is less than 20%, then the Lifetime Payment Percentage will include the Income Bonus
Percentage, as shown in the Rate Sheet Prospectus Supplement, when calculating the Current Annual Payment (unless the Lifetime Payment Percentage is set to a fixed percentage as described below).
The benefit determining percentage is calculated on each valuation date as
follows, but it will not be less than zero:
| |
|
|
| |
|
Contract value at the end of the prior valuation period |
| |
|
Withdrawal Adjustment Base at the end of the prior valuation period |
After the Current Annual Payment is established, the first withdrawal taken in each
contract year will set the Lifetime Payment Percentage to a fixed percentage for the remainder of the contract year except as noted below. Following each rider anniversary, the availability of the Income Bonus Percentage, and therefore the Lifetime Payment Percentage, can
change on each valuation date until a withdrawal is taken in that contract year. For more information on how this rider operates, please see “Appendix E: Example – Optional Living Benefits – SecureSource
4 Plus NY Rider”.
However, at the earliest of (1) or (2) below, the Income Bonus Percentage is no
longer available, and the Lifetime Payment Percentage will equal the Minimum Lifetime Payment Percentage for as long as the benefit is payable:
(1)
when the contract value reduces to zero, or
(2)
on the
annuitization start date.
For certain periods of time at our discretion and on a non-discriminatory basis,
your Lifetime Payment Percentage may be set by us to include the Income Bonus Percentage if more favorable to you.
Determination of Adjustments of Benefit Values: Your values are determined at the following times and
are subject to a maximum amount of $20 million each:
1.
At rider effective date
The Withdrawal Adjustment Base, Credit Base and Benefit Base are set equal to the initial purchase payment.
2.
When an additional purchase payment is made
The Benefit Base and
Withdrawal Adjustment Base will be increased by the amount of each additional purchase payment.
If the Credit Base is greater than zero, the Credit Base will be increased by the amount of each additional purchase
payment.
See “Buying Your Contract — Purchase Payments” for purchase payment
limitations.
3.
When a withdrawal is taken
If the Credit Base is
greater than zero, Annual Credits will not be added to the Benefit Base on the following rider anniversary.
The Withdrawal Adjustment Base, Benefit Base and Credit Base can be adjusted, but they will not be less than zero.
112 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
(A)
The Withdrawal
Adjustment Base will be reduced by the same proportion that the contract value is reduced. The proportional amount deducted is the “adjustment for withdrawal,”
calculated as follows:
| |
|
the amount of the withdrawal |
| |
|
the Withdrawal Adjustment Base on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal. |
(B)
If the Current Annual Payment is not established, Excess Withdrawal Processing will occur
as follows. The Benefit Base and Credit Base will be reduced by the same proportion that the contract value is reduced using the “adjustment for withdrawal” calculation described above but substituting the Credit Base or Benefit Base
(as applicable) for the Withdrawal Adjustment Base.
(C)
If the Current
Annual Payment is established and the withdrawal is less than or equal to the Remaining Annual Payment, the Benefit Base and Credit Base do not change.
(D)
If the Current Annual Payment is established and the withdrawal is greater than the
Remaining Annual Payment, Excess Withdrawal Processing will occur, and the Benefit Base and Credit Base will be reduced by an amount calculated as follows:
| |
|
the amount of the withdrawal minus the Remaining Annual Payment |
| |
|
the Benefit Base or Credit Base (as applicable) on the date of (but prior to) the withdrawal |
| |
|
the contract value on the date of (but prior to) the withdrawal minus the Remaining Annual Payment. |
Rider Anniversary Processing: The following describes how the Withdrawal Adjustment Base, Benefit Base and Credit Base are calculated on rider
anniversaries, subject to the maximum amount of $20 million for each and how the Lifetime Payment Percentage can change on rider anniversaries.
•
Annual Credits: If you did not take any withdrawals during the prior contract year and you did not
decline any increase to the annual rider fee, Annual Credits may be available. The Annual Credit percentages and duration are shown in the Rate Sheet Prospectus Supplement.
(A)
On the first
rider anniversary
The Annual Credit equals the Credit Base 180 days
following the rider effective date multiplied by the current Annual Credit percentage, as shown in the Rate Sheet Prospectus Supplement, for the first rider anniversary.
•
Single Life: The Benefit Base and Withdrawal Adjustment Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base 180 days following the
rider effective date increased by the Annual Credit and any additional purchase payments since 180 days following the rider effective date.
(B)
On any other rider anniversary during a Credit Period
The Annual Credit equals the Credit Base as of the prior rider anniversary multiplied by the current Annual Credit percentage as shown in the Rate Sheet Prospectus Supplement.
•
Single Life: The Benefit Base will be increased by the Annual Credit.
•
Joint Life: The Benefit Base will be set to the greater of the current Benefit Base, or the Benefit Base on the prior rider
anniversary increased by the Annual Credit and any additional purchase payments since the prior rider anniversary.
The Withdrawal Adjustment Base will be set as follows:
(A)
if no
withdrawals have been taken, the Withdrawal Adjustment Base will be set to the Benefit Base determined above, or
(B)
if any withdrawals have been taken, the Withdrawal Adjustment Base will be set to the
amount as calculated below:
| |
|
the Withdrawal Adjustment Base on the rider anniversary (but prior to rider anniversary processing) |
| |
|
the Benefit Base determined above |
| |
|
the Benefit Base on the rider anniversary (but prior to rider anniversary processing) |
The Credit Base will be set to zero on the last rider anniversary of a
Credit Period after any adjustment to the Withdrawal Adjustment Base and Benefit Base, and there will be no additional Annual Credits unless the Credit Period restarts due to a step-up of the Benefit Base.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 113
The Credit
Base will be permanently set to zero on the later of: (A) the rider anniversary on or after the owner’s 95th birthday or (B) the rider anniversary equal to the Credit
Period duration, as shown in the Rate Sheet Prospectus Supplement.
•
Annual Step-Ups: Beginning with the first rider anniversary, an Annual Step-Up may be available. If you decline any increase to the
annual rider fee, future Annual Step-Ups will no longer be available. The Annual Step-Up will take place on any rider anniversary where the contract value (after charges are
deducted) is greater than the Benefit Base after any Annual Credit is added. If an Annual Step-Up is executed, the Benefit Base and Lifetime Payment Percentage will be adjusted as follows:
•
The Benefit
Base (after any Annual Credit is added) will be increased to the contract value.
•
The Credit Base will be increased to the contract value and the Credit Period will restart,
if there is an increase to Benefit Base due to an Annual Step-Up.
•
If the Covered
Person’s attained age (Joint Life: younger Covered Spouse’s
attained age) on the rider anniversary is in a higher Age Band and (1) there is an increase to Benefit Base due to an Annual Step-Up or (2) the Benefit Base is at the maximum of $20 million, so there was no Annual Step-Up of the Benefit Base, then the higher Age Band will
be used to determine the appropriate Lifetime Payment Percentage, regardless of any prior withdrawals. The higher Age Band will be used even if there was no Annual Step-Up due to
the maximum Benefit Base limitation.
•
The Withdrawal Adjustment Base on rider anniversaries: If you did not decline an increase to the annual rider fee, the Withdrawal Adjustment Base (after any Annual Credit is
added) will be increased to the contract value, if greater.
Required Minimum Distributions (RMD): If you are taking RMDs from your contract and your RMD calculated
separately for your contract is greater than the Current Annual Payment, the portion of your RMD that exceeds the Current Annual Payment benefit amount will not be subject to Excess Withdrawal Processing provided that the following conditions are
met:
•
The Current Annual Payment is established;
•
The RMD is for your contract alone;
•
The RMD is based on your recalculated life expectancy taken from the Uniform Lifetime Table
under the Code; and
•
The RMD amount is otherwise based on the requirements of section 401(a) (9), related Code
provisions and regulations thereunder that were in effect on the contract date.
If
the Current Annual Payment is not established, the RMD will be subject to Excess Withdrawal Processing. RMD rules follow the calendar year which most likely does not coincide
with your contract year and therefore may limit when you can take your RMD and not be subject to Excess Withdrawal Processing. See Appendix F for additional information.
Spousal Option to Continue the Contract upon Owner’s Death (Spousal Continuation):
Single Life: If a surviving spouse elects to continue the contract and continues the
contract as the new owner under the spousal continuation provision of the contract, the
SecureSource 4 Plus NY— Single Life rider terminates.
Joint Life: If a surviving spouse is a Covered Spouse and elects the spousal
continuation provision of the contract as the new owner, the SecureSource 4 Plus
NY — Joint Life rider also continues. The surviving Covered Spouse can name a new beneficiary;
however, a new Covered Spouse cannot be added to the rider. After the death of the last Covered Spouse, the rider will terminate (see “Benefits in Case of Death – If
you Die Before the Annuitization Start Date”).
If you did not decline an increase to the annual rider fee, at the time of spousal continuation, a step-up may be available. All Annual Step-Up rules (see “Rider Anniversary Processing — Annual Step-Up” heading above) also apply to the spousal continuation step-up except that the Remaining Annual Payment will be reduced for any prior withdrawals in
that contract year. Also, the Credit Period will restart on the next contract anniversary. The Withdrawal Adjustment Base, if greater than zero, will be increased to the contract value if the contract value is greater. The spousal continuation
step-up is processed on the valuation date spousal continuation is effective.
Rules for Surrender: There is no minimum contract value requirement following a partial surrender. Surrenders will be taken from all
accounts and the variable subaccounts in the same proportion as your interest in each bears to the contract value.
If your contract value is reduced to zero, the Credit Base, if greater than zero, will be permanently reset to zero, and
there will be no additional Annual Credits. Also, the following will occur:
•
If the Current
Annual Payment is not established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the owner must wait until the Current
Annual Payment would be established, and that amount then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to the owner until the death of the Covered Person (Joint Life: both Covered Spouses) (see “Current Annual Payment Description” above).
114 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
•
If the Current
Annual Payment is established and if the contract value is reduced to zero as a result of market performance, fees or charges, then the Benefit Base multiplied by the Minimum
Lifetime Payment Percentage will be paid annually to the owner until the death of the Covered Person (Joint Life: both Covered Spouses).
•
If the Current Annual Payment is established and if the contract value is reduced to zero as
a result of a withdrawal that is less than or equal to the Remaining Annual Payment (including RMDs that are not subject to Excess Withdrawal Processing as described above), the Current Annual Payment will be available for the remainder of this
contract year and then the Benefit Base multiplied by the Minimum Lifetime Payment Percentage will be paid annually to the owner until the death of the Covered Person.
•
These annualized amounts will be paid in monthly installments. If the monthly payment is less
than $100, we have the right to change the frequency, but no less frequently than annually.
•
We will no longer accept additional purchase payments.
•
No more charges will be collected for the rider.
•
The amount paid in the current contract year will be reduced for any prior withdrawals in
that contract year.
•
If the Current Annual Payment is determined by incorrect information regarding the Covered
Person's birth date, payments will be adjusted. They will be based on what would have been provided using the correct birth date. Any underpayments made by us will be made up promptly without interest. We reserve the right to recover from you or your
estate any amounts overpaid. If there are any future payments under this rider, overpayments made by us will be subtracted, without interest, and/or as otherwise legally
permissible.
•
If the Current Annual Payment is not established and if the contract value is reduced to zero
as a result of a withdrawal taken before the Current Annual Payment is established, the rider and the contract will terminate.
•
If the Current Annual Payment is established and if the contract value is reduced to zero as a result of a withdrawal
that is greater than the Remaining Annual Payment (including RMDs that are subject to Excess Withdrawal Processing as described above), the rider and the contract will terminate.
Single Life:The rider will terminate even if the contract is continued under the
spousal continuation option.
Joint Life: If the death benefit becomes payable at the death of a Covered Spouse,
the surviving Covered Spouse must utilize the spousal continuation option to continue the lifetime benefit. If spousal continuation is not availableor if someone other than a Covered Spouse continues the contract, the rider terminates. The lifetime benefit ends at the death of the surviving Covered Spouse.
If the contract value is greater than zero when the death benefit becomes payable, the beneficiary may:
•
elect to take the death benefit under the terms of the contract, or
•
continue the
contract under the spousal continuation option.
Assignment and Change of Ownership
Joint Life: In order to maintain the joint life benefit, the surviving Covered Spouse must be able to continue the contract under the spousal continuation provision. Therefore, only ownership arrangements that permit such continuation are
allowed at rider issue. If the owner on the rider effective date is a natural person, only the Covered Spouses can be owners at rider issue. If there is a non-natural or a revocable trust owner, one of the Covered Spouses must be the
annuitant at rider issue.
Annuity Provisions: If your annuitization start date is the maximum annuitization start date (see “The Annuitization Start
Date”), you can choose one of the payout options available under the contract (see “Annuity Payout Plans”) or an alternative fixed annuity payout option available under the SecureSource 4 Plus NY rider. If you elect an annuitization start date that is earlier than the maximum annuitization start date, the
alternative fixed annuity payout option under the SecureSource 4 Plus NY rider is not available.
Under the rider’s payout option, you will receive the Current Annual Payment
recalculated based on the Minimum Lifetime Payment Percentage, each contract year until the death of the Covered Person (Joint Life: both Covered Spouses). The amount paid in the current contract year will be reduced for any prior withdrawals in that year. These
annualized amounts will be paid in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right
to make a lump sum payment equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Plan B in the contract. For more information about
annuity payout plans, please see “The Annuity Payout Period - Annuity Payout Plans.”
If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other
contract features, rider features and charges terminate after the annuitization start date.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 115
The rider payout option may
be greater or less than other payout options available under the contract. You should consider your payout options carefully and consult your financial advisor before making a
determination.
The SecureSource 4 Plus NY rider cannot be terminated either by you or us except as follows:
•
Single Life: after the death benefit is payable, the rider will terminate, even if the Covered Person is still living.
•
Single Life: spousal continuation will terminate the rider, even if the Covered Person is still living.
•
Single Life: after the death of the Covered Person, the rider will terminate.
•
Joint Life: after the death of the last Covered Spouse, the rider will terminate.
•
Joint Life: After the death benefit is payable the rider will terminate if anyone
other than a Covered Spouse continues the contract. However, if the Covered Spouse continues the contract as an inherited IRA or as a beneficiary of a participant in an employer sponsored retirement plan, the rider will terminate.
•
On the
annuitization start date, the rider will terminate, if you choose a payout option available under the contract.
•
You may
terminate the rider if your annual rider fee after any increase is more than 0.25 percentage points higher than your fee before the increase. (See “Charges — SecureSource 4 Plus NY rider charge”).
•
When the contract value is reduced to zero as a result of an Excess Withdrawal as described
in the Rules for Surrender Section above, the rider will terminate.
•
Termination of
the contract for any reason will terminate the rider.
For an example, see Appendix E.
Important SecureSource Series Rider Considerations
You should consider whether a SecureSource series rider is appropriate for you taking into account the following considerations:
You will begin paying the rider charge as of the rider effective date, even if you do not begin taking withdrawals for many years. It is possible that your contract performance, fees and charges, and withdrawal pattern may be such that your
contract value will not be depleted in your lifetime and you will not receive any monetary value under the rider.
•
Lifetime benefit Limitations: The lifetime benefit is subject to certain limitations, including but not
limited to:
Single Life: Once the contract value equals zero, payments are made for as long as the covered person is living (see “If
Contract Value Reduces to Zero” heading above). However, if the contract value is greater than zero, the lifetime benefit terminates when the death benefit is
payable.
Joint Life: Once the contract value equals zero, payments are made for as long as
either covered spouse is living (see “If Contract Value Reduces to Zero” heading above). However, if the contract value is greater than zero, the lifetime benefit terminates at the death of the last surviving covered spouse (see “At Death” heading above).
•
Withdrawals: Please consider carefully when you start taking withdrawals from this rider, because the
timing of your first withdrawal is an important decision. Once you take your first withdrawal, your initial Minimum Lifetime Payment Percentage or Lifetime Payment Percentage will be determined. If a withdrawal is taken during the Credit Period, no
credit will be available on the next contract anniversary. For SecureSource Core Plus
NY, if the withdrawal is taken before the Base Doubler Date the Base Doubler is permanently set to zero.
Also, if you withdraw more than the allowed withdrawal amount in a contract year or take withdrawals before the Current Annual Payment is established (Excess Withdrawal), the guaranteed amounts under the rider will be reduced (See “Determination of Adjustments of
Benefit Values” under each rider).
•
Investment Allocation Restrictions: You must invest in approved investment options which vary by rider. For SecureSource Tempo NY, the approved investment options are divided into groups and have specified minimum or maximum percentages of contract
value that must be in each group and a maximum percentage that can be allocated to each fund. Although the funds’ investment strategies may help mitigate declines in your
contract value due to declining equity markets, the funds’ investment strategies may also curb your contract value gains during periods of positive performance by the equity markets. Additionally, investment in the funds may decrease the number and
amount of any benefit base increase opportunities. (See “Principal Risks of Investing in the Contracts – Managed Volatility Fund Risk”) This requirement limits
your choice of investment options. This means you will not be able to allocate contract value to all of the subaccounts that are available under the contract to contract owners who do not elect the rider. (See “Investment Allocation
Restrictions for Certain Benefit Riders” and “Appendix B: Funds Available Under the Optional Benefits Offered Under the Contract”) You may allocate purchase
payments to the Special DCA fixed account, when available, and we will make monthly transfers into the approved investment options. You should consult your financial advisor before you purchase the SecureSource series rider. We reserve the right to add, remove, combine or substitute approved investment options in our sole
discretion. We reserve the right to close or restrict approved investment options in our sole discretion. We also reserve the right to add, remove or modify
116 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
allocation
plans and requirements in our sole discretion. Any change will apply to current allocations, future purchase payments, and transfers. Any substitution of funds may be subject to
the SEC or state insurance departments approval (see “Substitution of Investments”).
•
Income Guide Program Restriction: Income Guide program is not available to contracts with the SecureSource series
rider.
•
Non-Cancelable: Once elected, the SecureSource
series rider may not be cancelled (except as provided under “Rider Termination” heading above) and the charge will continue to be deducted until the contract or rider
is terminated or the contract value reduces to zero (described below).
Dissolution of marriage does not terminate the SecureSource series — Joint Life rider and will not reduce the fee we charge for this rider. The benefit under the SecureSource series — Joint Life rider continues for the covered spouse who is the owner of the contract (or annuitant in the case of nonnatural or revocable trust ownership). The other
covered spouse will no longer be eligible for benefits under the rider. The rider will terminate at the death of the contract owner because the original covered spouse will be unable to elect the spousal continuation provision of the
contract (see “Joint Life only: Covered Spouses” above).
•
Joint Life: Limitations on Contract Owners, Annuitants and Beneficiaries: Since the joint life benefit will terminate unless the surviving covered spouse continues the contract under the spousal
option to continue the contract upon the owner’s death provision, only ownership arrangements that permit such continuation are allowed at rider issue. In general, the covered spouses should be joint owners, or one covered spouse should be the owner and the other covered
spouse should be named as the sole primary beneficiary.
You are responsible for establishing ownership arrangements that
will allow for spousal continuation.
If you select the SecureSource series — Joint Life rider, please consider carefully whether or not you wish to change the beneficiary of your
annuity contract. The rider will terminate if the surviving covered spouse cannot utilize the spousal continuation provision of the contract when the death benefit is payable. If
the spousal continuation option is not available when the death benefit is payable, the rider will terminate. The surviving covered spouse will no longer be eligible for benefits under the rider.
•
Limitations on Purchase Payments: We reserve the right to limit the cumulative amount of purchase payments (subject to state restrictions), which may
limit your ability to make additional purchase payments to increase your contract value as you may have originally intended. For current purchase payment restrictions, please see
“Buying Your Contract —Purchase Payments”.
•
Interaction with Total Free Amount (FA) contract provision: The FA is the amount you are allowed to withdraw from the contract in each contract year without incurring a surrender
charge (see “Charges — Surrender Charge”). The FA may be greater than the Remaining
Annual Payment under this rider. Any amount you withdraw under the contract’s FA provision that exceeds the Remaining Annual Payment is subject to the Excess Withdrawal Processing as described
above.
You should consult your tax advisor before you select this optional rider if you
have any questions about the use of the rider in your tax situation because:
•
Tax Considerations for Nonqualified Annuities: Under current federal income tax law, withdrawals under
nonqualified annuities, including withdrawals taken from the contract under the terms of the rider, are treated less favorably than amounts received as annuity payments under the contract (see “Taxes — Nonqualified Annuities”). Withdrawals are taxable income to the extent of earnings. Withdrawals of earnings before age 59½ may also incur a 10% IRS early
withdrawal penalty. You should consult your tax advisor before you select this optional rider if you have any questions about the use of the rider in your tax situation.
•
Tax Considerations for Qualified Annuities: Qualified annuities have minimum distribution rules that govern the timing and amount of distributions from the annuity
contract (see “Taxes — Qualified Annuities — Required Minimum Distributions”). While the rider permits certain Excess Withdrawals to be taken for the
purpose of satisfying RMD requirements for your contract alone without reducing future benefits guaranteed under the rider, there can be no guarantee that changes in the federal income tax law after the effective date of the rider will not require a larger RMD
to be taken, in which case, future guaranteed withdrawals under the rider could be reduced. See Appendix
F for additional information.
•
Treatment of non-spousal distributions: Unless you are married your beneficiary will be required to
take distributions as a non-spouse which may result in significantly decreasing the value of the rider.
Please note civil unions and domestic partnerships generally are not recognized as marriages for federal tax purposes. For additional information see “Taxes — Other — Spousal status” section of this prospectus.
•
Limitations on Tax-Sheltered Annuities (TSAs): Your right to take withdrawals is restricted if your
contract is a TSA (see “TSA — Special Provisions”). Therefore, a
SecureSource series rider may be of limited value to you.
Accumulation Protector
Benefit Rider
(Available for contract applications signed prior to 3/30/2020)
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 117
The Accumulation Protector
Benefit rider is an optional benefit that you may select at contract issue for an additional charge. The Accumulation Protector Benefit rider specifies a Waiting Period that ends
on the Benefit Date. The Waiting Period is 10 years. The Accumulation Protector Benefit rider provides a one-time adjustment to your contract value on the Benefit Date if your contract value is less than the Minimum Contract Accumulation Value (defined below) on that
Benefit Date. On the Benefit Date, if the contract value is equal to or greater than the Minimum Contract Accumulation Value, as determined under the Accumulation Protector Benefit rider, the Accumulation Protector Benefit rider ends
without value and no benefit is payable.
If the contract value falls to zero as the result of adverse market performance or
the deduction of fees and/or charges at any time during the Waiting Period and before the Benefit Date, the contract and all riders, including the Accumulation Protector Benefit rider will terminate without value and no benefits will be paid. Exception: if you are still living on the Benefit Date, we will pay you an amount equal to the Minimum Contract Accumulation Value
as determined under the Accumulation Protector Benefit rider on the valuation date your contract value reached zero.
The Accumulation Protector Benefit rider is only available to those age 80 or younger at contract issue. If elected, the
rider effective date will be the contract issue date. The Accumulation Protector Benefit rider may not be terminated once you have elected it except as described in the “Terminating the Rider” section below. An additional charge for the Accumulation Protector Benefit rider will be assessed annually during the Waiting Period. The rider ends when the
Waiting Period expires, no further benefit will be payable, and no further charges for the rider will be deducted. After the Waiting Period, you have the following options:
•
Continue your contract;
•
Take partial surrenders or make a full surrender; or
•
Annuitize your
contract.
The Accumulation Protector Benefit rider may not be purchased with the optional
SecureSource Legacy benefit or SecureSource series riders.
You should consider whether an Accumulation Protector Benefit rider is appropriate
for you because:
•
You must invest in approved investment options. Current approved investment options are Portfolio Stabilizer
funds. This requirement limits your choice of investment options. This means you will not be able to allocate contract value to all of the subaccounts or the regular fixed account that are available under the contract to contract owners who do not elect the rider. (See “Investment Allocation Restrictions for Certain Benefit Riders” section below and for
the list of available funds, see Appendix B: Funds Available Under the Optional Benefits Offered Under the
contract – Investment Allocation Restrictions for the Accumulation Protector Benefit Rider )
You may allocate purchase payments to the Special DCA fixed account, when available, and we will make monthly transfers into the approved investment options. You should consult your financial advisor before you purchase the Accumulation Protector Benefit
rider. In addition, the Income Guide program will not be available to you (See “Making the Most of Your Contract — The Income Guide Program). We reserve the right to add, remove or substitute approved investment options
at any time and in our sole discretion in the future. Any substitution of funds may be subject to the SEC or state insurance departments approval (see “Substitution of Investments”);
•
You may not
make additional purchase payments to your contract during the Waiting Period after the first 180 days immediately following the effective date of the Accumulation Protector
Benefit rider. Some exceptions apply. (see “Additional Purchase Payments with Elective Step-Up” below) Also, additional purchase payments are limited to $100,000, however, this restriction is currently being waived until
further notice;
•
If you purchase this contract as a qualified annuity, for example, an IRA, you may need to
take partial surrenders from your contract to satisfy the RMDs under the Code. Partial surrenders, including those used to satisfy RMDs, will reduce any potential benefit that the Accumulation Protector Benefit rider provides. You should consult your tax advisor
if you have any questions about the use of this rider in your tax situation;
•
If you think you may surrender all of your contract value before you have held your contract
with this benefit rider attached for 10 years, or you are considering selecting an annuity payout option within 10 years of the effective date of your contract, you should consider whether this optional benefit is right for you. You must hold the contract a
minimum of 10 years from the effective date of the Accumulation Protector Benefit rider, which is the length of the Waiting Period under the rider, in order to receive the benefit, if any, provided by the rider. In some cases, as
described below, you may need to hold the contract longer than 10 years in order to qualify for any benefit the Accumulation Protector Benefit rider may provide;
•
The 10 year
Waiting Period under the Accumulation Protector Benefit rider will restart if you exercise the elective step-up option (described below) or your surviving spouse exercises the
spousal continuation elective step-up (described below); and
•
The 10 year
Waiting Period under the Accumulation Protector Benefit rider may be restarted if you elect to change your investment option to one that causes the Accumulation Protector Benefit
rider fee to increase (see “Waiting Period” below).
118 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Be sure to discuss with
your financial advisor whether an Accumulation Protector Benefit rider is appropriate for your situation.
Here are some general terms that are used to describe the operation of the Accumulation Protector Benefit:
Benefit Date: This is the first valuation date immediately following the expiration of the Waiting
Period.
Minimum Contract Accumulation Value (MCAV): An amount calculated under the Accumulation Protector
Benefit rider. The contract value will be increased to equal the MCAV on the Benefit Date if the contract value is less than the MCAV on the Benefit Date.
Your initial MCAV is equal to your initial purchase payment. It is increased by the
amount of any subsequent purchase payments received. It is reduced by any adjustments for partial surrenders made during the Waiting Period.
Adjustments for Partial Surrenders: The adjustment made for each partial surrender from the contract is
equal to the amount derived from multiplying (a) and (b) where:
(a)
is 1 minus the ratio of the contract value on the date of (but immediately after) the
partial surrender to the contract value on the date of (but immediately prior to) the partial surrender; and
(b)
is the MCAV on the date of (but immediately prior to) the partial surrender.
Waiting
Period: The Waiting Period for the rider is 10 years. The Waiting Period will restart on the latest
contract anniversary if you change your investment option and the annual rider fee increases more than 0.20 percentage points and if the remaining Waiting Period is less than three years. Our right to restart the Waiting Period under these
conditions is currently being waived until further notice.
On each contract anniversary after the effective date of the
rider, the MCAV will be set to the greater of:
1.
90% of the contract value on the contract anniversary (after charges are deducted); or
2.
the MCAV immediately prior to the automatic step-up.
The automatic step-up
does not create contract value, guarantee the performance of any investment option, or provide a benefit that can be surrendered or paid upon death. Rather, the automatic step-up
is an interim calculation used to arrive at the final MCAV, which is used to determine whether a benefit will be paid under the rider on the Benefit Date.
The automatic step-up of the MCAV does not restart the Waiting Period or increase the fee (although the total charge for
the rider may increase).
Within thirty days following each contract anniversary after the rider effective date, but prior to the Benefit Date, you
may notify us in writing that you wish to exercise the annual elective step-up option. You may exercise this elective step-up option only once per contract year during this 30 day period. If your contract value (after charges are deducted)
on the valuation date we receive your written request to step-up is greater than the MCAV on that date, your MCAV will increase to 100% of that contract value.
We may increase the fee for your rider (see “Charges — Accumulation
Protector Benefit Rider Charge”) and the revised fee would apply to your rider if you exercise the annual elective step-up. Elective step-ups will also result in a restart
of the Waiting Period as of the most recent contract anniversary.
The elective step-up does not create contract value, guarantee the performance
of any investment option or provide any benefit that can be surrendered or paid upon death. Rather the elective step-up is an interim calculation used to arrive at the final MCAV, which is used to determine whether a benefit will be paid under the rider on the Benefit Date.
The elective step-up option is not available for inherited IRAs or if the Benefit Date would be after the annuitization start date.
Additional Purchase Payments with Annual Elective Step-Ups
If your MCAV is increased as a result of elective step-up, you have 180 days from the latest contract anniversary to
make additional purchase payments, if allowed under the base contract. The MCAV will include the amount of any additional purchase payments received during this period.
If a spouse chooses to continue the contract under the spousal continuation provision, the rider will continue as part of
the contract. Once, within the thirty days following the date of spousal continuation, the spouse may choose to exercise an elective step-up. The spousal continuation elective step-up is in addition to the annual elective step-up. If the
contract value on the valuation date we receive the written request to exercise this option is greater than the MCAV on that date, we will increase the MCAV to that contract value. If the MCAV is increased as a result of the elective step-up
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 119
and we have increased the
fee for the Accumulation Protector Benefit rider, you will pay the fee that is in effect on the valuation date we receive their written request to step-up. In addition, the
Waiting Period will restart as of the most recent contract anniversary.
The rider will terminate under the following conditions:
•
The rider will terminate on the Benefit Date after the rider charge has been deducted and after any adjustment to the
contract value due to payment of the rider benefit.
•
After the
death benefit is payable, unless the spouse continues the contract as described in the “Spousal Continuation” provision above, the rider will terminate.
•
In relation to certain increases to the annual rider fee, your written request will terminate the rider. (See “Charges — Accumulation Protector Benefit rider charge”).
•
The rider will
terminate on the annuitization start date.
•
Termination of the contract for any reason will terminate the rider.
The rider will terminate on the Benefit Date.
For an example, see Appendix E.
Investment Allocation Restrictions for Certain Benefit Riders
If you elect certain benefit riders, you must comply with certain investment
allocation restrictions. This means you will be limited in your choice of funds and may be limited in how much you can invest in those funds. The investment allocation restrictions are different for the SecureSource Series riders and the Accumulation Protector Benefit rider. Please speak with your financial advisor if you have any questions about the
investment allocation restrictions applicable to your rider.
INVESTMENT ALLOCATION
RESTRICTIONS FOR THE ACCUMULATION PROTECTOR BENEFIT RIDER
For contracts issued with the Accumulation Protector Benefit rider, you are required to invest your contract value in the Portfolio Stabilizer funds.
For the list of Portfolio Stabilizer funds available, please see Appendix B: Funds
Available under the Optional Benefits Offered under the Contract – Investment Allocation Restrictions for the Accumulation Protector Benefit Rider.
INVESTMENT ALLOCATION RESTRICTIONS FOR THE SECURESOURCE CORE 2 NY, SECURESOURCE 5 NY,
SECURESOURCE 5 PLUS NY, SECURESOURCE CORE NY, SECURESOURCE CORE PLUS NY, SECURESOURCE 4 NY OR SECURESOURCE 4 PLUS NY BENEFIT RIDERS
For contracts issued with the SecureSource Core 2 NY, SecureSource 5 NY, SecureSource 5 Plus NY,
SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, SecureSource 4 Plus NY benefit riders, alone or in combination
with the optional SecureSource Legacy benefit rider, you are required to invest your
contract value in the Portfolio Stabilizer funds or certain Portfolio Navigator funds.
For the
list of Portfolio Stabilizer and Portfolio Navigator funds available, please see Appendix B: Funds Available under the Optional Benefits Offered under the Contract –
Investment Allocation Restrictions for the SecureSource Core 2 NY,
SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, SecureSource 4 Plus NY benefit riders.
The investment allocation restrictions for the above listed
SecureSource series riders and Accumulation Protector Benefit rider may
reduce our financial risk and expense in offering guaranteed benefits and limit your ability to grow contract value. The Portfolio Stabilizer funds or Portfolio Navigator funds
are available to all contract owners, regardless of whether an optional benefit rider has been elected. We reserve the right to reduce the number of available Funds.
Changes we may make. We reserve the right to add, remove, combine or substitute Funds at any time and
in our sole discretion. We also reserve the right, upon notification to you, to close or restrict any investment option , subject to any regulatory approval.. Any change
will apply to current allocations, future purchase payments, and transfers. If we remove, restrict, combine or substitute Funds, transfers made to reallocate purchase payments or
contract value will not count toward your annual transfer limitations. We will obtain any necessary regulatory approvals and provide you with any required notice prior to any substitution. (See the “Substitution of Investments” section in this prospectus).
Investing in the Funds. You are responsible for determining which Funds are best for you. Your
financial advisor can help you determine which investment options most closely matches your investing style, based on factors such as your investment goals, your tolerance for risk and how long you intend to invest. There is no guarantee that the Funds you
select or have selected are appropriate to your ability to withstand investment risk. RiverSource Life is not responsible for your selection of specific investment options, or your decision to change to different investment options.
120 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Each Portfolio Stabilizer
fund has an investment objective of pursuing total return while seeking to manage the Fund’s exposure to equity market volatility. Each of the Portfolio Navigator funds is
a fund of funds with the investment objective of seeking a high level of total return consistent with a certain level of risk by investing in various underlying funds.
If you initially allocate qualifying purchase payments to the Special DCA fixed account, when available (see “The Special DCA Fixed Account”), we will make monthly transfers in accordance with your instructions from the Special DCA fixed
account into the investment options you have chosen.
Additional Considerations. It is important to remember that certain funds are managed volatility funds and employ a strategy designed to reduce
overall volatility and downside risk. If a strategy is successful it may result in smaller losses to your contract value when markets are declining and market volatility is high
when compared to funds not employing a managed volatility strategy. In turn, if a strategy is successful it may also result in less gain in your contract value during rising markets with higher volatility when compared to funds not employing a managed volatility strategy. Accordingly,
although an investment in the Funds may mitigate declines in your contract value due to declining equity markets, the Funds’ investment strategies may also curb or decrease your contract value during periods of positive performance by
the equity markets. There is no guarantee any of the managed volatility funds’ strategies will be successful. In addition, managed volatility funds may decrease the number and amount of any periodic benefit base increase opportunities (e.g.
annual step ups). Costs associated with running a managed volatility strategy may also adversely impact the
performance of managed volatility funds. See Appendix A for a list of funds that employ a managed volatility strategy. Also see “Principal Risks of Investing in the Contract” for further information about these funds.
Investing in the Funds does not guarantee that your contract will increase in value nor will it protect in a decline in value if market prices fall. Depending on future market conditions and considering only the potential return on your investment
in the Fund, you might benefit (or benefit more) from selecting alternative investment options. There is no assurance that the Funds will achieve their respective investment objectives. In addition, there is no guarantee that the Fund’s strategy will have its intended effect or that it will work as effectively as is intended.
For additional information about the Funds’ investment
strategies, risks and conflicts, see the Funds’ prospectuses as well as “The Variable Account and the Funds –Conflicts of Interest with Certain Funds Advised by
Columbia Management” section in this prospectus.
Additional Information. You may change your investment option allocations up to four times per contract year by written request on an
authorized form or by another method agreed to by us. You may also set up asset rebalancing and change your percentage allocations, but those changes will count towards this four
times per contract year limit. Please consider requesting changes carefully, because we may charge you a higher fee for your rider. (See “Charges — Optional Living Benefit Charges”) We also reserve the right to limit the number of changes if required to comply with the written instructions of a fund (see “Making the Most of Your Contract — Transferring Among Accounts — Market Timing”) and the number of investment options from which you can select.
Before you select the SecureSource Legacy benefit
rider, SecureSource Core 2 NY, SecureSource 5 NY, SecureSource 5 Plus
NY, SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, SecureSource 4 Plus NY benefit riders or Accumulation Protector Benefit rider, you and your financial advisor should carefully evaluate whether the
Funds meet your investment objectives and risk tolerance, taking into consideration the potential positive or negative impact that Funds’ strategy may have on your contract value and the benefits under your rider. Because you can terminate the rider only under certain circumstances once you have selected it, you must terminate your contract by requesting a full
surrender if you later decide that you do not want to invest in the Funds. You can change allocations among Funds as described above. Surrender charges and tax penalties may apply. Therefore, you should not select
the SecureSource Legacy benefit rider, SecureSource Core 2 NY, SecureSource 5 NY, SecureSource 5 Plus NY, SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, SecureSource 4 Plus
NY benefit riders or Accumulation Protector Benefit rider if you do not intend to adhere to its investment restrictions while this rider is in force.
INVESTMENT ALLOCATION RESTRICTIONS FOR THE SECURESOURCE TEMPO
NY RIDER
For contracts issued with the SecureSource Tempo NY rider, alone or in combination with the optional SecureSource Legacy benefit rider, you are required to invest 100% of your purchase payments and your contract value to approved investment
options (“the Funds”). Certain Funds are available within an allocation plan, subject to requirements and percentage limitations. If you invest in this rider, you
will be limited in your choice of investments and may be limited in how much you can invest in certain Funds. By investing in this rider, you will also not be able to allocate
contract value to all investment options available in the contract. In addition, you will not be able to
allocate to the regular fixed account. These investment restrictions may reduce our financial risk and
expense in offering guaranteed withdrawal benefits and limit your ability to grow contract value. (see “Changes we may make” in this section below for more information).
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 121
Choosing
an Investment Path. The Personalized AllocationsSM feature allows you to allocate your purchase payments and contract value to either Investment Path 1 or Investment Path 2, subject to plan requirements and percentage
limitations, as shown in the Rate Sheet Supplement.
You will choose either Investment Path 1 or Investment Path 2 at issue. After issue,
you can change between Investment Path 1 and Investment Path 2 at any time, subject to any transfer limitations. Your total contract value will be moved to the new Investment Path and you will be required to adhere to its rules. Any value in the Special DCA fixed
account will remain in the Special DCA fixed account and future scheduled Special DCA fixed account transfers will be based on the updated allocations.
Investment Path 1. This option requires 100% allocation of your purchase payments and contract value among the available Funds and there
is no restriction on how much you can allocate into each Fund.
For the list of funds available under Investment Path 1, please see Appendix B: Funds Available under the Optional Benefits Offered under the Contract – Investment Allocation Restrictions for the SecureSource
Tempo NY rider.
Investment Path 2. This option requires 100% allocation of your purchase payments and contract value
among the available Funds. The Funds under Investment Path 2 are divided into groups and each group has a specified minimum or maximum percentage of contract value that can be allocated to it. You can select the percentages of contract value to
allocate to Funds within each group, but the total investment for all Funds within the group must comply with the specified minimum or maximum percentage for that group. We may change the list of Funds that are or are not available to
a specific group. There is also a maximum percentage of contract value that may be allocated to each Fund. If you chose Investment Path 2, you can allocate to Funds in Groups 1,
2, and 3, subject to the requirements and limitations.
For the list of funds and contract value percentages that can be allocated to each fund under Investment Path 2, please see Appendix B: Funds Available under the Optional Benefits Offered under the Contract – Investment Allocation
Restrictions for the SecureSource Tempo NY rider.
The allocation you select at issue becomes your contract
allocation. Purchase payments and rebalancing will be made in accordance with this allocation. In order to transfer between Funds, you must update your contract allocation
instructions with us.
Rebalancing for Investment Path 2.
If you select this option, you agree to be automatically enrolled in the portfolio rebalancing program and thereby
authorize us to automatically rebalance your contract value on a quarterly basis. Quarterly rebalancing will be done on a quarterly schedule measured from Contract Date, regardless of when Investment Path 2 is selected. We may change, suspend
or terminate the automatic rebalancing frequency in our sole discretion. We will notify you in advance if we exercise this right. If you switch to Investment Path 1, rebalancing
is automatically terminated.
Changes we may make for both Investment Path 1 and Investment Path 2. We reserve the right to add,
remove, combine or substitute Funds in our sole discretion. We reserve the right to close or restrict Funds in our sole discretion. We also reserve the right to add, remove or modify allocation plans, including adding and removing Funds,
changing allocation plan requirements and changing percentage limitations, in our sole discretion
, subject to any regulatory
approval.. Any change will apply to current allocations, future purchase payments and transfers. If we remove, restrict, combine or substitute any Funds, transfers made to reallocate purchase payments or contract value will not count toward any annual transfer limitations.
We may modify the investment requirements or limitations at any time we believe
the modifications are necessary to protect our ability to provide the guarantees under these riders. Our decision to make modifications may be based on several factors including, but not limited to, general market conditions, the style and investment objectives of the funds, when hedging instruments become difficult to acquire or the cost of hedging becomes excessive.
We will notify you 30 days prior to the date of any change or
new limitation to the Funds, the allocation plans or allocation plan requirements. The change will take effect on the date we declare in the written notice. If your current
contract allocation does not comply with our revised requirements, prior to the effective date you should update your allocations to comply. If you do not provide us with such instructions or your allocations do not comply with our revised
investment options, before you make a purchase payment or request a transfer, you must update your contract value and purchase payment allocations to comply.
Additional Considerations. It is important to remember that certain Funds offered in Investment Path 1 and Investment Path 2 are managed
volatility funds and employ a strategy designed to reduce overall volatility and downside risk. If a strategy is successful it may result in smaller losses to your contract value
when markets are declining and market volatility is high when compared to funds not employing a managed volatility strategy. In turn, if a strategy is successful it may also result in less gain in your contract value during rising markets with higher volatility when compared to funds
not employing a managed volatility strategy. There is no guarantee any of the managed volatility funds’ strategies will be
122 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
successful. In addition,
managed volatility funds may decrease the number and amount of any periodic benefit base increase opportunities (e.g. annual step ups). Costs associated with running a managed
volatility strategy may also adversely impact the performance of managed volatility funds.
Investing in the Funds does not guarantee that your contract will increase in value nor will it protect in a decline in value if market prices fall. Depending on future market conditions and considering only the potential return on your investment
in the Funds, you might benefit (or benefit more) from selecting alternative Funds. There is no assurance that the Funds will achieve their respective investment objectives. In addition, there is no guarantee that the Fund’s strategy will have its intended effect or that it will work as effectively as is intended.
For additional information about the Funds’ investment strategies, risks and
conflicts, see the Funds’ prospectuses as well as “The Variable Account and the Funds – Conflicts of Interest with Certain Funds Advised by Columbia Management” section in this prospectus.
Additional Information. You may change your investment option allocations up to six times per contract year by written request on an authorized
form or by another method agreed to by us subject to our investment restrictions. If you choose Investment Path 1, you may also set up asset rebalancing and change your
percentage allocations, but those changes will count towards this six times per contract year limit. Quarterly rebalancing, based on contract quarter, is mandatory and will be automatically established when you select Investment Path 2. Please consider requesting changes
carefully, because we may charge you a higher fee for your rider (see “Charges — Optional Living Benefit Charges”). We also reserve the right to limit the
number of changes if required to comply with the written instructions of a fund (see “Making the Most of Your Contract — Transferring Among Accounts — Market
Timing”) and the number of investment options from which you can select.
Before you select SecureSource Tempo NY rider, you and your financial advisor should carefully evaluate whether the
Funds offered in Investment Path 1 and Investment Path 2 meet your investment objectives and risk tolerance. You should not select SecureSource Tempo NY benefit rider if you do not intend to adhere
to its investment restrictions while this rider is in force.
The Annuity Payout Period
As owner of the contract, you have the right to decide how and to whom annuity payouts will be made starting on the
annuitization start date. You select one of the annuity payout plans outlined below, or we may mutually agree on other payout arrangements. Currently, we make annuity payments on a monthly, quarterly, semi-annually and annual basis.
Assuming the initial payment is on the same date, more frequent payments will generally result in higher total payments over the year. As discussed below, certain annuity payout options have a “guaranteed period,” during which payments are guaranteed to continue. Longer guaranteed periods will generally result in lower monthly annuity payment amounts.
With a shorter guaranteed period, the amount of each annuity payment will be greater. Payments that occur more frequently will be smaller than those occurring less frequently.
We do not deduct surrender charges upon annuitization but surrender charges may be
applied when electing to exercise liquidity features we may make available under certain fixed annuity payout options.
You also decide whether we will make annuity payouts on a fixed or variable basis, or a combination of fixed and
variable. If you do not make an election, annuity payouts will be a combination of fixed and variable based on the proportion of your contract value allocated to the Fixed Account and Variable Account at the time payouts begin. The
amount available to purchase payouts under the plan you select is the contract value on your annuitization start date after any rider charges have been deducted (less any applicable premium tax). Additionally, we currently allow you to
use part of the amount available to purchase payouts, leaving any remaining contract value to accumulate on a tax-deferred basis. Special rules apply for partial annuitization of your annuity contract, see “Taxes — Nonqualified Annuities — Annuity payouts” and “Taxes — Qualified Annuities — Annuity
payouts.”
If you select a variable annuity payout, we reserve the right to limit the number of subaccounts in which you may invest.
The Special DCA fixed account is not
available during this payout period.
Amounts of fixed and variable payouts depend
on:
•
the annuity payout plan you select;
•
the
annuitant’s age and, in most cases, sex;
•
the annuity table in the contract; and
•
the amounts you allocated to the accounts on the annuitization start date.
In addition, for variable
payouts only, amounts depend on the investment performance of the subaccounts you select. These payouts will vary from month to month based on the performance of the funds. Fixed
payouts generally remain the same from month to month unless you have elected an option providing for increasing payments or are exercising any available liquidity features we may offer and you have elected.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 123
For information with
respect to transfers between accounts after annuity payouts begin, see “Making the Most of Your Contract — Transfer policies.”
The annuity tables in your contract (Table A and Table B) show the amount of the
monthly payout for each $1,000 of contract value according to the annuitant’s age and, when applicable, the annuitant’s sex. (Where required by law, we will use a unisex table of annuity payout rates.)
Table A shows the amount of the first monthly variable payout assuming that the
contract value is invested at the beginning of the annuity payout period and earns a 5% rate of return, which is reinvested and helps to support future payouts. If you ask us at least 30 days before the annuitization start date, we will substitute an annuity Table based on
an assumed 3.5% investment return for the 5% Table A in the contract. The assumed investment return affects both the amount of the first payout and the extent to which subsequent payouts increase or decrease. For example, annuity payouts
will increase if the investment return is above the assumed investment return and payouts will decrease if the return is below the assumed investment return. Using the 5% assumed
interest return results in a higher initial payout, but later payouts will increase more slowly when annuity unit values rise and decrease more rapidly when they decline.
Table B shows the minimum amount of each fixed payout. We declare current payout rates that we use in determining the
actual amount of your fixed annuity payout. The current payout rates will equal or exceed the guaranteed payout rates shown in Table B. We will furnish these rates to you upon
request.
We make available variable annuity payouts where payout amounts may vary based on the
performance of the Variable Account. We may also make fixed annuity payouts available where payments of a fixed amount are made for the period specified in the plan, subject to any surrender we may permit. You may choose any one of these annuity payout plans by
giving us written instructions at least 30 days before the annuitization start date:
•
Plan A: Life annuity — no refund: We make monthly payouts until the annuitant’s death.
Payouts end with the last payout before the annuitant’s death. We will not make any further payouts. This means that if the annuitant dies after we made only one monthly payout, we will not make any more payouts.
•
Plan B: Life income with guaranteed period: We make monthly payouts for a guaranteed payout period of five, ten, or 15 years that you elect. This election will
determine the length of the payout period in the event if the annuitant dies before the elected period expires. We calculate the guaranteed payout period from the annuitization
start date. If the annuitant outlives the elected guaranteed payout period, we will continue to make payouts until the annuitant’s death.
•
Plan C: Life annuity — installment refund: We make monthly payouts until the annuitant’s death, with our guarantee that payouts will continue for some
period of time. We will make payouts for at least the number of months determined by dividing the amount applied under this option by the first monthly payout, whether or not the
annuitant is living.
•
Plan D: Joint and last survivor life annuity — no refund: We make monthly payouts while both the
annuitant and a joint annuitant are living. If either annuitant dies, we will continue to make monthly payouts at the full amount until the death of the surviving annuitant. Payouts end with the death of the second annuitant.
For
Plan A, if the annuitant dies before the initial payment, no payments will be made. For Plan B, if the annuitant dies before the initial payment, the payments will continue for
the guaranteed payout period. For Plan C, if the annuitant dies before the initial payment, the payments will continue for the installment refund period. For Plan D, if both
annuitants die before the initial payment, no payments will be made; however, if one annuitant dies before the initial payment, the payments will continue until the death of the surviving annuitant.
In addition to the annuity payout plans described above, we may offer additional
payout plans. These plans may include cash refund features providing a guarantee of receiving at least a return of the annuitization amount (less any annuity payments made and any premium tax paid) in the event of the annuitant’s death, term certain installment plans with
varying durations, and liquidity features allowing access under certain circumstances to a surrender of the underlying value of remaining payments. Terms and conditions of annuity payout plans will be disclosed at the time of election,
including any associated fees or charges. It is important to remember that the election and use of liquidity features may either reduce the amount of future payouts you would otherwise receive or result in payouts
ceasing.
Utilizing a liquidity feature to surrender the underlying value of remaining payments may result in the assessment of a surrender charge (See “Charges — Surrender charge”) or a 10% IRS penalty tax. (See “Taxes.”).
The annuitant's age at the time annuity payments commence will affect the amount of each payment for annuity payment
plans involving lifetime income. The amount of each annuity payment to older annuitants will be greater than for younger annuitants because payments to older
annuitants are expected to be fewer in number.
124 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Annuity
payout plan requirements for qualified annuities: If your contract is a qualified annuity, you have the
responsibility for electing a payout plan under your contract that complies with applicable law. Your contract describes your payout plan options. The options will meet certain IRS regulations governing RMDs if the payout plan meets the
incidental distribution benefit requirements, if any, and the payouts are made:
•
in equal or substantially equal payments over a period not longer than your life expectancy or over the joint life
expectancy of you and your designated beneficiary; or
•
over a period
certain not longer than your life expectancy or over the life expectancy of you and your designated beneficiary.
For qualified and nonqualified contracts with one of the
SecureSource series rider, if your annuitization start date is the maximum annuitization start date, you can choose one of the payout options available under the contract or an
alternative fixed annuity payout option available under the rider. Under the rider’s payout option, the minimum amount payable shown in Table B will not apply, and you will receive the Current Annual Payment provided by this rider until the death of Covered Person (Joint Life: both Covered Spouses) . If you choose to receive the Current Annual Payment, the amount payable each year will be equal to the
Current Annual Payment on the annuitization start date. The amount paid in the current contract year will be reduced for any prior withdrawals in that year. These annualized amounts will be paid
in monthly installments. If the monthly payment is less than $100, we have the right to change the frequency, but no less frequently than annually. If the monthly payment is less than $20, we have the right to make a lump sum payment
equal to the present value of any remaining future payments. The present value will be calculated on the same mortality and interest rate basis used in Table B in the contract If you choose to receive the Current Annual Payment rather than a payout option available under the contract, all other contract features, rider features and charges
terminate after the annuitization start date.
You must select a payout plan as of the annuitization start date set forth in your contract.
If we do not receive instructions: You must give us written instructions for the annuity payouts at least 30 days before the annuitization start date. If
you do not, we will make payouts under Plan B, with 120 monthly payouts guaranteed.
If monthly payouts would be less than $20: We will calculate the amount of monthly payouts at the time amounts are applied to a payout plan. If the calculations
show that monthly payouts would be less than $20, we have the right to pay the amount that would otherwise have been applied to a plan to the owner in a lump sum or to change the
frequency of the payouts.
Death after annuity payouts begin: If you die after annuity payouts begin, we will pay any amount payable to the beneficiary as provided in the annuity
payout plan in effect. Payments to beneficiaries are subject to adjustment to comply with the IRS rules and regulations.
Under current law, your contract has a tax-deferral feature. Generally, this means
you do not pay income tax until there is a taxable distribution (or deemed distribution) from the contract. We will send a tax information reporting form for any year in which we made a taxable or reportable distribution according to our records.
Generally, only the increase in the value of a non-qualified annuity contract over the investment in the contract is
taxable. Certain exceptions apply. Federal tax law requires that all nonqualified deferred annuity contracts issued by the same company (and possibly its affiliates) to the same owner during a calendar year be taxed as a single, unified
contract when distributions are taken from any one of those contracts.
Annuity payouts: Generally, unlike surrenders described below, the income taxation of annuity payouts is subject to exclusion ratios
(for fixed annuity payouts) or annual excludable amounts (for variable annuity payouts). In other words, in most cases, a portion of each payout will be ordinary income and
subject to tax, and a portion of each payout will be considered a return of part of your investment in the contract and will not be taxed. All amounts you receive after your
investment in the contract is fully recovered will be subject to tax. Under Annuity Payout Plan A: Life annuity — no refund, where the annuitant dies before your investment in the contract is fully recovered, the remaining portion of the
unrecovered investment may be available as a federal income tax deduction to the owner for the last taxable year. Under all other annuity payout plans, where the annuity payouts end before your investment in the contract is fully
recovered, the remaining portion of the unrecovered investment may be available as a federal income tax deduction to the taxpayer for the tax year in which the payouts end. (See “The Annuity Payout Period — Annuity Payout Plans.”)
Federal tax law permits taxpayers to annuitize a portion of their nonqualified annuity while leaving the remaining balance
to continue to grow tax-deferred. Under the partial annuitization rules, the portion annuitized must be received as an annuity for a period of 10 years or more, or for the lives of one or more individuals. If this requirement is met, the
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 125
annuitized portion and the
tax-deferred balance will generally be treated as two separate contracts for income tax purposes only. If a contract is partially annuitized, the investment in the contract is
allocated between the deferred and the annuitized portions on a pro rata basis.
Surrenders: Generally, if you surrender all or part of your nonqualified annuity before the annuitization start date, including surrenders under any optional withdrawal benefit rider, your surrender will be taxed to the extent that the
contract value immediately before the surrender exceeds the investment in the contract. Application of
surrender charges may alter the manner in which we tax report the surrender. Different rules may apply if
you exchange another contract into this contract.
You also may have to pay a 10% IRS penalty for surrenders of taxable income you make
before reaching age 59½ unless certain exceptions apply.
Withholding: If you receive taxable income as a result of an annuity payout or surrender, including surrenders under any optional withdrawal benefit rider, we may deduct federal, and in some cases state withholding against the payment. Any
withholding represents a prepayment of your income tax due for the year. You take credit for these amounts on your annual income tax return. As long as you have provided us with a valid Social Security Number or Taxpayer Identification
Number, you have a valid U.S.
address and payments are delivered inside the United States, you may be able to elect not to have federal income tax withholding occur.
If the payment is part of an annuity payout plan, we generally compute the amount of
federal income tax withholding using payroll tables. You may complete our Form W-4P to use in calculating the withholding if you want withholding other than the default (single filing status with no adjustments). If the distribution is any other type of payment (such as
partial or full surrender) we compute federal income tax withholding using 10% of the taxable portion unless you elect a different percentage via our Form W-4R or another acceptable method.
The federal income tax withholding requirements differ if we deliver payment outside
the United States or you are a non-resident alien.
Some states also may impose income tax withholding requirements similar to the
federal withholding described above or may allow you to elect withholding. If this should be the case, we may deduct state income tax withholding from the payment.
Federal and state tax withholding rules are subject to change. Annuity payouts and
surrenders are subject to the tax withholding rules in effect at the time that they are made, which may differ from the rules described above.
Death benefits to beneficiaries: The death benefit under a nonqualified contract is not exempt from
estate (federal or state) taxes. In addition, for income tax purposes, any amount your beneficiary receives that exceeds the remaining investment in the contract is taxable as ordinary income to the beneficiary in the year he or she receives the payments.
(See “Benefits in Case of Death — If You Die Before the Annuitization Start Date”).
Net Investment Income Tax: Certain investment income
of high-income individuals (as well as estates and trusts) is subject to a 3.8% net investment income tax (as an addition to income taxes). For individuals, the 3.8% tax applies
to the lesser of
(1) the amount by which the taxpayer’s modified adjusted gross income exceeds $200,000 ($250,000 for married filing jointly and surviving spouses; $125,000 for married
filing separately) or (2) the taxpayer’s “net investment income.” Net investment income includes taxable income from nonqualified annuities. Annuity holders are
advised to consult their tax advisor regarding the possible implications of this additional tax.
Annuities owned by corporations, partnerships or irrevocable trusts: For nonqualified annuities, any
annual increase in the value of annuities held by such entities (nonnatural persons) generally will be treated as ordinary income received during that year. However, if the trust was set up for the benefit of a natural person(s) only, the income may generally
remain tax-deferred until surrendered or paid out.
Penalties: If you receive amounts from your nonqualified annuity before reaching age 59½, you may have to pay a 10% IRS
penalty on the amount includable in your ordinary income. However, this penalty will not apply to any amount received:
•
because of your death or in the event of nonnatural ownership, the death of the annuitant;
•
because you
become disabled (as defined in the Code);
•
if the distribution is part of a series of substantially equal periodic payments, made at
least annually, over your life or life expectancy (or joint lives or life expectancies of you and your beneficiary);
•
if it is allocable to an investment before Aug. 14, 1982; or
•
if annuity
payouts are made under immediate annuities as defined by the Code.
Transfer of ownership: Generally, if you transfer ownership of a nonqualified annuity without receiving adequate consideration, the transfer
may be taxed as a surrender for federal income tax purposes. If the transfer is a currently taxable event
for income tax purposes, the original owner will be taxed on the amount of deferred earnings at the time
126 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
of the transfer and
also may be subject to the 10% IRS penalty discussed earlier. In this case, the new owner’s investment in the contract will be equal to the investment in the contract at
the time of the transfer plus any earnings included in the original owner’s taxable income as a result of the transfer. In general, this rule does not apply to transfers between spouses or former spouses. Similar rules apply if you transfer ownership for full consideration.
Please consult your tax advisor for further details.
1035 Exchanges of nonqualified annuities: Section 1035 of the Code permits nontaxable exchanges of certain insurance policies, endowment contracts, annuity
contracts and qualified long-term care insurance products, while providing for continued tax deferral of earnings. In addition, Section 1035 permits the carryover of the
investment in the contract from the old policy or contract to the new policy or contract. In a 1035 exchange one policy or contract is exchanged for another policy or contract. The following can qualify as nontaxable exchanges: (1) the exchange of a life
insurance policy for another life insurance policy or for an endowment, annuity or qualified long-term care insurance contract, (2) the exchange of an endowment contract for an annuity or qualified long-term care insurance contract, or for
an endowment contract under which payments will begin no later than payments would have begun under the contract exchanged, (3) the exchange of an annuity contract for another annuity contract or for a qualified long-term care
insurance contract, and (4) the exchange of a qualified long-term care insurance contract for a qualified long-term care insurance contract. However, if the life insurance policy has an outstanding loan, there may be tax consequences.
Additionally, other tax rules apply. Depending on the issue date of your original policy or contract, there may be tax or other benefits that are given up to gain the benefits of the new policy or contract. Consider whether the features and
benefits of the new policy or contract outweigh any tax or other benefits of the old contract.
For a partial exchange of an annuity contract for another annuity contract, the 1035 exchange is generally tax-free. The
investment in the original contract and the earnings on the contract will be allocated proportionately between the original and new contracts. However, per IRS Revenue Procedure 2011-38, if surrenders are taken from either contract
within the 180-day period following a partial 1035 exchange, the IRS will apply general tax principles to determine the appropriate tax treatment of the exchange and subsequent surrender. As a result, there may be unexpected tax
consequences. You should consult your tax advisor before taking any surrender from either contract during the 180-day period following a partial exchange.
Assignment: If you assign or pledge your contract as collateral for a loan, earnings on purchase payments you made after Aug. 13,
1982 will be taxed as a deemed distribution and also may be subject to the 10% penalty as discussed
above.
Adverse tax consequences may result if you do not ensure that contributions, distributions and other transactions under
the contract comply with the law. Qualified annuities have minimum distribution rules that govern the timing and amount of distributions. You should refer to your retirement plan’s Summary Plan Description, your IRA disclosure statement, or consult a tax advisor for additional information about the distribution rules applicable to your situation.
When you use your contract to fund a retirement plan or IRA that is already tax-deferred under the Code, the contract will
not provide any necessary or additional tax deferral. If your contract is used to fund an employer sponsored plan, your right to benefits may be subject to the terms and conditions of the plan regardless of the terms of the contract.
Annuity payouts: Under a qualified annuity, except a Roth IRA, the entire payout generally is includable as ordinary income and is subject to tax unless: (1) the contract is an IRA to
which you made non-deductible contributions; or (2) you rolled after-tax dollars from a retirement plan into your IRA; or (3) the contract is used to fund a retirement plan
and you or your employer have contributed after-tax dollars; or (4) the contract is used to fund a retirement plan and you direct such payout to be directly rolled over to another eligible retirement plan such as an IRA. We may permit partial
annuitizations of qualified annuity contracts. If we accept partial annuitizations, please remember that your contract will still need to comply with other requirements such as required minimum distributions and the payment of taxes. Prior to
considering a partial annuitization on a qualified contract, you should discuss your decision and any implications with your tax adviser. Because we cannot accurately track certain after-tax funding sources, we will generally report any
payments on partial annuitizations as ordinary income except in the case of a qualified distribution from a Roth IRA.
Annuity payouts from Roth IRAs: In general, the entire payout from a Roth IRA can be free from income
and penalty taxes if you have attained age 59½ and meet the five year holding period.
Surrenders: Under a qualified annuity, except a Roth IRA, the entire surrender will generally be includable as ordinary income and is subject to tax unless: (1) the contract is
an IRA to which you made non-deductible contributions; or (2) you rolled after-tax dollars from a retirement plan into your IRA; or (3) the contract is used to fund a retirement
plan and you or your employer have contributed after-tax dollars; or (4) the contract is used to fund a retirement plan and you direct such surrender to be directly rolled over to another eligible retirement plan such as an
IRA.
Surrenders from Roth IRAs: In general, the entire payout from a Roth IRA can be free from income and
penalty taxes if you have attained age 59½ and meet the five year holding period or another qualifying event such as death or disability.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 127
Required
Minimum Distributions: Retirement plans (except for Roth IRAs) are subject to required surrenders called
required minimum distributions (“RMDs”) beginning at age 73. RMDs are based on the fair market value of your contract at year-end divided by the life expectancy factor. Certain death benefits and optional riders may be considered
in determining the fair market value of your contract for RMD purposes. This may cause your RMD to be higher. You should consult your tax advisor prior to making a purchase for an explanation of the potential tax implications to you.
Inherited IRAs (including inherited Roth IRAs) are subject to special required minimum distribution rules.
Withholding for IRAs, Roth IRAs, SEPs and SIMPLE IRAs: If you receive taxable income as a result of an annuity payout or a surrender, including surrenders under any optional withdrawal benefit rider, we may deduct withholding against the payment. Any withholding represents a prepayment of your tax due for the year. You take credit for these amounts on your
annual income tax return. As long as you have provided us with a valid Social Security Number or Taxpayer Identification Number, you can elect not to have any withholding
occur.
If the payment is part of an annuity payout plan, we generally compute the amount of federal income tax withholding
using payroll tables. You may complete our Form W-4P to use in calculating the withholding if you want withholding other than the default (single filing status with no adjustments). If the distribution is any other type of payment (such as
partial or full surrender) we compute federal income tax withholding using 10% of the taxable portion unless you elect a different percentage via our Form W-4R or another acceptable method.
The federal income tax withholding requirements differ if we deliver payment outside
the United States or you are a non-resident alien.
Some states also may impose income tax withholding requirements similar to the
federal withholding described above. If this should be the case, we may deduct state income tax withholding from the payment.
Withholding for all other qualified annuities where RiverSource or Ameriprise Trust Company is responsible for tax reporting: If you receive directly all or part of the contract value from a qualified annuity,
mandatory 20% federal income tax withholding (and possibly state income tax withholding) generally will be imposed at the time the payout is made from the plan. Any withholding represents a prepayment of your tax due for the year. You take credit for these amounts
on your annual income tax return. This mandatory withholding will not be imposed if instead of receiving the distribution check, you elect to have the distribution rolled over directly to an IRA or another eligible plan. Payments made to a
surviving spouse instead of being directly rolled over to an IRA are also subject to mandatory 20% income tax
withholding.
In the below situations, the distribution is subject to optional withholding instead
of the mandatory 20% withholding. We will withhold 10% of the distribution amount unless you elect otherwise.
•
the payout is one in a series of substantially equal periodic payouts, made at least annually, over your life or life
expectancy (or the joint lives or life expectancies of you and your designated beneficiary) or over a specified period of 10 years or more;
•
the payout is a RMD as defined under the Code;
•
the payout is made on account of an eligible hardship; or
•
the payout is
a corrective distribution.
State withholding also may be imposed on taxable distributions.
Penalties: If you receive amounts from your qualified contract before reaching age 59½, you may
have to pay a 10% IRS penalty on the amount includable in your ordinary income. However, this penalty generally will not apply to any amount received:
•
because you become disabled (as defined in the Code);
•
if the
distribution is part of a series of substantially equal periodic payments made at least annually, over your life or life expectancy (or joint lives or life expectancies of you
and your beneficiary);
•
if the distribution is made following severance from employment during or after the calendar
year in which you attain age 55 (TSAs and annuities funding 401(a) plans only);
•
to pay certain
medical or education expenses (IRAs only);
•
if the distribution is made from an inherited IRA; or
•
any other instances, as allowed by the IRS.
Death
benefits to beneficiaries: The entire death benefit generally is taxable as ordinary income to the beneficiary in the year he/she receives the payments from the qualified annuity. If you made non-deductible contributions to a
traditional IRA, the portion of any distribution from the contract that represents after-tax contributions is not taxable as ordinary income to your beneficiary. Under current IRS requirements, you are responsible for keeping all records
128 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
tracking your
non-deductible contributions to an IRA. Death benefits under a Roth IRA generally are not taxable as ordinary income to the beneficiary if certain distribution requirements are
met. (See “Benefits in Case of Death — If You Die Before the Annuitization Start Date”).
Change of retirement plan type: IRS regulations allow for rollovers of certain retirement plan distributions. In some circumstances, you may be able to
have an intra-contract rollover, keeping the same features and conditions. If the annuity contract you have does not support an intra-contract rollover, you are able to request
an IRS approved rollover to another annuity contract or other investment product that you choose. If you choose another annuity contract or investment product, you will be subject to new rules, including a new surrender charge schedule for an annuity contract,
or other product rules as applicable.
Assignment: You may not assign or pledge your qualified contract as collateral for a loan.
Special considerations if you select any optional rider: As of the date of this prospectus, we
believe that charges related to these riders are not subject to current taxation. Therefore, we will not report these charges as partial surrenders from your contract. However, the IRS may determine that these charges should be treated as partial surrenders
subject to taxation to the extent of any gain as well as the 10% tax penalty for surrenders before the age of 59½, if applicable, on the taxable portion.
We reserve the right to report charges for these riders as partial surrenders if we, as a withholding and reporting agent,
believe that we are required to report them. In addition, we will report any benefits attributable to these riders on your death as an annuity death benefit distribution, not as proceeds from life insurance.
Important: Our discussion of federal tax laws is based upon our understanding of current interpretations of these laws. Federal
tax laws or current interpretations of them may change. For this reason and because tax consequences are complex and highly individual and cannot always be anticipated, you
should consult a tax advisor if you have any questions about taxation of your
contract.
RiverSource Life of NY’s tax status: We are taxed as a life insurance company under the Code. For federal income tax purposes, the subaccounts are
considered a part of our company, although their operations are treated separately in accounting and financial statements. Investment income is reinvested in the fund in which
each subaccount invests and becomes part of that subaccount’s value. This investment income, including realized capital gains, is not subject to any withholding for federal or state income taxes. We reserve the right to make such a charge in the future if there is a
change in the tax treatment of variable annuities or in our tax status as we then understand it.
The company includes in its taxable income the net investment income derived from the investment of assets held in its
subaccounts because the company is considered the owner of these assets under federal income tax law. The company may claim certain tax benefits associated with this investment income. These benefits, which may include foreign tax
credits and the corporate dividend received deduction, are not passed on to you since the company is the owner of the assets under federal tax law and is taxed on the investment income generated by the assets.
Tax qualification: We intend that the contract qualify as an annuity for federal income tax purposes. To that end, the provisions of the
contract are to be interpreted to ensure or maintain such tax qualification, in spite of any other provisions of the contract. We reserve the right to amend the contract to
reflect any clarifications that may be needed or are appropriate to maintain such qualification or to conform the contract to any applicable changes in the tax qualification requirements. We will send you a copy of any amendments.
Spousal status: When it comes to your marital status and the identification and naming of any spouse as a beneficiary or party to your
contract, we will rely on the representations you make to us. Based on this reliance, we will issue and administer your contract in accordance with these representations. If you
represent that you are married and your representation is incorrect or your marriage is deemed invalid for federal or state law purposes, then the benefits and rights under your contract may be different.
If you have any questions as to the status of your relationship as a marriage, then
you should consult an appropriate tax or legal advisor.
As a contract owner with investments in the subaccounts, you may vote on important fund policies until annuity payouts
begin. Once they begin, the person receiving them has voting rights. We will vote fund shares according to the instructions of the person with voting rights.
Before annuity payouts begin, the number of votes you have is determined by applying
your percentage interest in each subaccount to the total number of votes allowed to the subaccount.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 129
After annuity payouts
begin, the number of votes you have is equal to:
•
the reserve held in each subaccount for your contract; divided by
•
the net asset
value of one share of the applicable fund.
As we make annuity payouts, the reserve for the contract decreases; therefore, the
number of votes also will decrease.
We calculate votes separately for each subaccount. We will send notice of shareholders’ meetings, proxy materials and a statement of the number of votes to which the voter is entitled. We are the legal owner of all fund shares and
therefore hold all voting rights. However, to the extent required by law, we will vote the shares of each fund according to instructions we receive from contract owners. We will vote shares for which we have not received instructions and shares
that we or our affiliates own in our own names in the same proportion as the votes for which we received instructions. As a result of this proportional voting, in cases when a
small number of contract owners vote, their votes will have a greater impact and may even control the outcome.
Substitution of Investments
We may substitute the Funds in which the subaccounts invest if:
•
laws or regulations change;
•
the existing funds become unavailable; or
•
in our
judgment, the funds no longer are suitable (or no longer the most suitable) for the Subaccounts.
If any of these
situations occur, we have the right to substitute a Fund currently listed in this prospectus (existing fund) for another Fund (new Fund), provided we obtain any required SEC and
state insurance law approval. The new Fund may have higher fees and/or operating expenses than the existing Fund. Also, the new Fund may have investment objectives and policies and/or investment advisers which differ from the existing Fund.
•
combine any two or more Subaccounts;
•
transfer assets to and from the Subaccounts or the Variable Account; and
•
eliminate or
close any Subaccounts.
We will notify you of any substitution or change and obtain your approval if required.
In certain limited circumstances permitted by applicable law, we may amend the contract and take whatever action is
necessary and appropriate without your consent or approval. We will obtain any required prior approval of the SEC or state insurance department before making any substitution or change.
About the Service Providers
RiverSource Distributors, Inc. (RiverSource Distributors), our affiliate, serves as the principal underwriter and general
distributor of the contract. Its offices are located at 70100 Ameriprise Financial Center, Minneapolis, MN 55474. RiverSource Distributors is a wholly-owned subsidiary of Ameriprise
Financial, Inc.
New contracts are not currently being offered.
•
Only securities broker-dealers ("selling firms") registered with the SEC and members of the FINRA may sell the
contract.
•
The contracts are continuously offered to the public through authorized selling firms. We and
RiverSource Distributors have a sales agreement with the selling firm. The sales agreement authorizes the selling firm to offer the contracts to the public. RiverSource Distributors pays the selling firm (or an affiliated insurance agency) for contracts its
financial advisors sell. The selling firm may be required to return sales commissions under certain circumstances including but not limited to when contracts are returned under the free look period.
Payments to Selling Firms
•
We may use compensation plans which vary by selling firm. For example, some of these plans pay selling firms a commission of up to 7.50% each time a purchase payment is made. We may pay ongoing trail commissions of up to 1.25% of the contract value. We do not pay or withhold payment of
commissions based on which investment options you select.
130 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
•
We may pay
selling firms a temporary additional sales commission of up to 1% of purchase payments for a period of time we select. For example, we may offer to pay a temporary additional
sales commission to get selling firms to market a new or enhanced contract or to increase sales during the period.
•
In addition to commissions, we may, in order to promote sales of the contracts, and as permitted by applicable laws and
regulations, pay or provide selling firms with other promotional incentives in cash, credit or other compensation. We generally (but may not) offer these promotional incentives
to all selling firms. The terms of such arrangements differ between selling firms. These promotional incentives may include but are not limited to:
•
sponsorship of marketing, educational, due diligence and compliance meetings and conferences we or the selling firm may
conduct for financial advisors, including subsidy of travel, meal, lodging, entertainment and other expenses related to these meetings;
•
marketing support related to sales of the contract including for example, the creation of marketing materials,
advertising and newsletters;
•
providing
service to contract owners; and
•
funding other events sponsored by a selling firm that may encourage the selling firm's financial
advisors to sell the contract.
These promotional
incentives or reimbursements may be calculated as a percentage of the selling firm’s aggregate, net or anticipated sales and/or total assets attributable to sales of the
contract, and/or may be a fixed dollar amount. As noted below this additional compensation may cause the selling firm and its financial advisors to favor the contracts.
Sources of Payments to Selling Firms
We pay the commissions and other compensation described above from our assets. Our
assets may include:
•
revenues we receive from fees and expenses that you will pay when buying, owning and surrendering the contract (see
"Expense Summary");
•
compensation we or an affiliate receive from the underlying funds in the form of distribution
and services fees (see "The Variable Account and the Funds - The funds");
•
compensation
we or an affiliate receive from a fund's investment adviser, subadviser, distributor or an affiliate of any of these (see "The Variable Account and the Funds - The funds");
and
•
revenues we receive from other contracts and policies we sell that are not securities and
other businesses we conduct.
You do not directly pay
the commissions and other compensation described above as the result of a specific charge or deduction under the contract. However, you may pay part or all of the commissions and
other compensation described above indirectly through:
•
fees and expenses we collect from contract owners, including surrender charges; and
•
fees and expenses charged by the underlying funds in which the subaccounts you select invest, to the extent we or one of
our affiliates receive revenue from the funds or an affiliated person.
Potential Conflicts of Interest
Compensation payment arrangements with selling firms can potentially:
•
give selling firms a heightened financial incentive to sell the contract offered in this
prospectus over another investment with lower compensation to the selling firm.
•
cause selling
firms to encourage their financial advisors to sell you the contract offered in this prospectus instead of selling you other alternative investments that may result in lower
compensation to the selling firm.
•
cause selling firms to grant us access to its financial advisors to promote sales of the
contract offered in this prospectus, while denying that access to other firms offering similar contracts or other alternative investments which may pay lower compensation to the selling firm.
Payments
to Financial Advisors
•
The selling firm pays its financial advisors. The selling firm decides the compensation and benefits it will pay its
financial advisors.
•
To inform yourself of any potential conflicts of interest, ask your financial advisor before you buy how the selling firm
and its financial advisors are being compensated and the amount of the compensation that each will receive if you buy the contract.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 131
Issuer
We issue the contracts. We are a stock life insurance company organized in 1972 under the laws of the state of New York
and are located at 20 Madison Avenue Extension, Albany, New York 12203. Our mailing address is P.O. Box 5144, Albany, New York 12205. We are a wholly-owned subsidiary of
RiverSource Life Insurance Company, which is a wholly-owned subsidiary of Ameriprise Financial, Inc.
We conduct a conventional life insurance business. Our primary products currently include fixed and variable annuity
contracts and life insurance policies.
RiverSource Life of NY (the Company) is involved in the normal course of business in legal proceedings which include
regulatory inquiries, arbitration and litigation, including class actions, concerning matters arising in connection with conduct of its activities. These include proceedings specific to the Company as well as proceedings generally applicable
to business practices in the industries in which it operates. The Company can also be subject to legal proceedings arising out of its general business activities, such as its investments, contracts, and employment relationships.
Uncertain economic conditions, heightened and sustained volatility in the financial markets and significant financial reform legislation may increase the likelihood that clients and other persons or regulators may present or threaten legal
claims or that regulators increase the scope or frequency of examinations of the Company or the insurance industry generally.
As with other insurance companies, the level of regulatory activity and inquiry
concerning the Company’s businesses remains elevated. From time to time, the Company and its affiliates, including Ameriprise Financial Services, LLC (“AFS”) and RiverSource Distributors, Inc. receive requests for information from, and/or are subject to examinations or claims by various state, federal and other domestic authorities. The Company and its affiliates typically have numerous
pending matters, which includes information requests, exams or inquiries regarding their business activities and practices and other subjects, including from time to time: sales and distribution of various products, including the
Company’s life insurance and variable annuity products; supervision of associated persons, including AFS financial advisors and RiverSource Distributors, Inc.’s wholesalers; administration of insurance and annuity claims; security of client information; and transaction monitoring systems and controls. The Company and its affiliates have cooperated and
will continue to cooperate with the applicable regulators.
These legal proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss. The Company cannot
predict with certainty if, how or when any such proceedings will be initiated or resolved. Matters frequently need to be more developed before a loss or range of loss can be reasonably estimated for any proceeding. An adverse outcome in one
or more proceedings could eventually result in adverse judgments, settlements, fines, penalties or other sanctions, in addition to further claims, examinations or adverse
publicity that could have a material adverse effect on the Company’s financial condition, results of operations or liquidity.
The financial statements for the RiverSource of New York Variable Annuity Account, as well as the consolidated financial statements of RiverSource Life of NY, are in the
Statement of Additional Information. A current Statement of Additional Information may be obtained, without charge, by calling us at 1-800-862-7919, or can be found online
at www.ameriprise.com/variableannuities.
132 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Appendix A:Funds Available Under the Contract
The following is a list of funds available under the contract. More information
about the funds is available in the
prospectuses for the funds, which
may be amended from time to time and can be found online at riversource.com. You can also request this information at no cost by calling 1-800-862-7919 or by sending an email
request to riversource.annuityservice@ampf.com. Depending on the optional benefits you choose, you may not be able to invest in certain funds. See "Appendix B:Funds Available Under the
Optional Benefits Offered Under the Contract"
The current expenses and performance information below reflects fee and expenses of the funds, but do not reflect the other fees and expenses that your contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each
fund’s past performance is not necessarily an indication of future performance.
| |
Fund and
Adviser/Sub-Adviser |
Current Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks to maximize total
return consistent with
AllianceBernstein's
determination of
reasonable risk. |
AB VPS Dynamic Asset Allocation Portfolio
AllianceBernstein L.P. |
|
|
|
|
Seeks long-term growth
of capital. |
AB VPS Large Cap Growth Portfolio (Class B)
AllianceBernstein L.P. |
|
|
|
|
Seeks long-term capital
appreciation. |
Allspring VT Opportunity Fund - Class 2
Allspring Funds Management, LLC, adviser;
Allspring Global Investments, LLC,
sub-adviser. |
|
|
|
|
Seeks long-term capital
appreciation. |
Allspring VT Small Cap Growth Fund -
Class 2
Allspring Funds Management, LLC, adviser;
Allspring Global Investments, LLC,
sub-adviser. |
|
|
|
|
The Portfolio seeks
investment results that
correspond (before fees
and expenses) generally
to the price and yield
performance of its
underlying index, the
Alerian Midstream
Energy Select Index (the
"Index"). |
ALPS | Alerian Energy Infrastructure
Portfolio: Class III
ALPS Advisors, Inc. |
|
|
|
|
Seeks high total
investment return. |
BlackRock Global Allocation V.I. Fund
(Class III)
BlackRock Advisors, LLC, adviser; BlackRock
(Singapore) Limited, sub-adviser. |
|
|
|
|
Seeks maximum total
investment return
through a combination
of capital growth and
current income. |
Columbia Variable Portfolio - Balanced Fund
(Class 2) (available for contract applications
signed on or after 5/3/2021)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks maximum total
investment return
through a combination
of capital growth and
current income. |
Columbia Variable Portfolio - Balanced Fund
(Class 3) (available for contract applications
signed prior to 5/3/2021)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 133
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks to provide
shareholders with total
return. |
Columbia Variable Portfolio - Commodity
Strategy Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks total return,
consisting of long-term
capital appreciation and
current income. |
Columbia Variable Portfolio - Contrarian Core
Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with high
total return through
income and growth of
capital. |
Columbia Variable Portfolio - Corporate Bond
Fund (Class 2) (previously Columbia Variable
Portfolio - Global Strategic Income Fund
(Class 2))
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
capital appreciation. |
Columbia Variable Portfolio - Disciplined
Core Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with a high
level of current income
and, as a secondary
objective, steady growth
of capital. |
Columbia Variable Portfolio - Dividend
Opportunity Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Non-diversified fund that
seeks to provide
shareholders with high
total return through
current income and,
secondarily, through
capital appreciation. |
Columbia Variable Portfolio - Emerging
Markets Bond Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Columbia Variable Portfolio - Emerging
Markets Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
maximum current
income consistent with
liquidity and stability of
principal. |
Columbia Variable Portfolio - Government
Money Market Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with high
current income as its
primary objective and,
as its secondary
objective, capital
growth. |
Columbia Variable Portfolio - High Yield Bond
Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with a high
total return through
current income and
capital appreciation. |
Columbia Variable Portfolio - Income
Opportunities Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
134 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks to provide
shareholders with a high
level of current income
while attempting to
conserve the value of
the investment for the
longest period of time. |
Columbia Variable Portfolio - Intermediate
Bond Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Columbia Variable Portfolio - Large Cap
Growth Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term capital
appreciation. |
Columbia Variable Portfolio - Large Cap Index
Fund (Class 2) (available for contract
applications signed on or after 5/3/2021)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term capital
appreciation. |
Columbia Variable Portfolio - Large Cap Index
Fund (Class 3) (available for contract
applications signed prior to 5/3/2021)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with a
level of current income
consistent with
preservation of capital. |
Columbia Variable Portfolio - Limited
Duration Credit Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks total return,
consisting of current
income and capital
appreciation. |
Columbia Variable Portfolio - Long
Government/Credit Bond Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
capital appreciation. |
Columbia Variable Portfolio - Overseas Core
Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term growth of
capital. |
Columbia Variable Portfolio - Select Large
Cap Value Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
growth of capital. |
Columbia Variable Portfolio - Select Mid Cap
Growth Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term growth of
capital. |
Columbia Variable Portfolio - Select Mid Cap
Value Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Columbia Variable Portfolio - Select Small
Cap Value Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 135
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks total return,
consisting of current
income and capital
appreciation. |
Columbia Variable Portfolio - Strategic
Income Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with
current income as its
primary objective and,
as its secondary
objective, preservation
of capital. |
Columbia Variable Portfolio -
U.S. Government Mortgage Fund (Class 2)
Columbia Management Investment Advisers,
LLC |
|
|
|
|
Seeks to provide
shareholders with a high
level of current income. |
CTIVP® - American Century Diversified Bond
Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; American Century Investment
Management, Inc., subadviser. |
|
|
|
|
Non-diversified fund that
seeks to provide
shareholders with total
return that exceeds the
rate of inflation over the
long term. |
CTIVP® - BlackRock Global Inflation-Protected
Securities Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; BlackRock Financial
Management, Inc., subadviser; BlackRock
International Limited, sub-subadviser.
|
|
|
|
|
Seeks to provide
shareholders with
current income and
capital appreciation. |
CTIVP® - CenterSquare Real Estate Fund
(Class 2)
Columbia Management Investment Advisers,
LLC, adviser; CenterSquare Investment
Management LLC, subadviser. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
CTIVP® - Principal Blue Chip Growth Fund
(Class 2) (on or about June 1, 2025 to be
known as CTIVP® - Principal Large Cap
Growth Fund (Class 2))
Columbia Management Investment Advisers,
LLC, adviser; Principal Global Investors, LLC,
subadviser. |
|
|
|
|
Seeks to provide
shareholders with
long-term growth of
capital and income. |
CTIVP® - T. Rowe Price Large Cap Value Fund
(Class 2)
Columbia Management Investment Advisers,
LLC, adviser; T. Rowe Price Associates, Inc.,
subadviser. |
|
|
|
|
Seeks to provide
shareholders with total
return through current
income and capital
appreciation. |
CTIVP® - TCW Core Plus Bond Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; TCW Investment Management
Company LLC, subadviser. |
|
|
|
|
Seeks to provide
shareholders with
long-term growth of
capital. |
CTIVP® - Victory Sycamore Established Value
Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Victory Capital Management
Inc., subadviser. |
|
|
|
|
136 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks to provide
shareholders with
long-term capital growth. |
CTIVP® - Wellington Large Cap Value Fund
(Class 2) (previously CTIVP® - MFS® Value
Fund (Class 2))
Columbia Management Investment Advisers,
LLC, adviser; Wellington Management
Company LLP, subadviser. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
CTIVP® - Westfield Mid Cap Growth Fund
(Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Westfield Capital Management
Company, L.P., subadviser. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
CTIVP® - Westfield Select Large Cap Growth
Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Westfield Capital Management
Company, L.P., subadviser. |
|
|
|
|
Seeks capital
appreciation. |
DWS Alternative Asset Allocation VIP,
DWS Investment Management Americas Inc., adviser; RREEF America L.L.C., subadvisor. |
|
|
|
|
Seeks long-term capital
appreciation. |
Fidelity® VIP Contrafund® Portfolio Service
Class 2
Fidelity Management & Research Company
(the Adviser) is the fund’s manager. Fidelity
Management & Research Company (UK)
Limited, Fidelity Management & Research
Company (Hong Kong) Limited, Fidelity
Management & Research Company (Japan)
Limited, subadvisers. |
|
|
|
|
Seeks long-term growth
of capital. |
Fidelity® VIP Mid Cap Portfolio Service
Class 2
Fidelity Management & Research Company
(the Adviser) is the fund’s manager. Fidelity
Management & Research Company (UK)
Limited, Fidelity Management & Research
Company (Hong Kong) Limited, Fidelity
Management & Research Company (Japan)
Limited, subadvisers. |
|
|
|
|
Seeks a high level of
current income and may
also seek capital
appreciation. |
Fidelity® VIP Strategic Income Portfolio
Service Class 2
Fidelity Management & Research Company
(the Adviser) is the fund’s manager. Fidelity
Management & Research Company (UK)
Limited, Fidelity Management & Research
Company (Hong Kong) Limited, Fidelity
Management & Research Company (Japan)
Limited, FIL Investment Advisers, FIL
Investment Advisers (UK) Limited and FIL
Investments (Japan) Limited,
subadvisers. |
|
|
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 137
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks to maximize
income while
maintaining prospects
for capital appreciation.
Under normal market
conditions, the fund
invests in a diversified
portfolio of equity and
debt securities. |
Franklin Income VIP Fund - Class 2
Franklin Advisers, Inc. |
|
|
|
|
Seeks capital
appreciation, with
income as a secondary
goal. Under normal
market conditions, the
fund invests primarily in
U.S. and foreign equity
securities that the
investment manager
believes are
undervalued. |
Franklin Mutual Shares VIP Fund - Class 2
Franklin Mutual Advisers, LLC |
|
|
|
|
Seeks long-term total
return. Under normal
market conditions, the
fund invests at least
80% of its net assets in
investments of small
capitalization
companies. |
Franklin Small Cap Value VIP Fund - Class 2
Franklin Mutual Advisers, LLC |
|
|
|
|
Seeks total return with a
low to moderate
correlation to traditional
financial market indices. |
Invesco V.I. Balanced-Risk Allocation Fund,
Invesco Advisers, Inc. |
|
|
|
|
Seeks capital
appreciation. |
Invesco V.I. Global Fund, Series II Shares
Invesco Advisers, Inc. |
|
|
|
|
| |
Invesco V.I. Global Strategic Income Fund,
Series II Shares
Invesco Advisers, Inc. |
|
|
|
|
Seeks capital
appreciation. |
Invesco V.I. Main Street Small Cap Fund®,
Series II Shares
Invesco Advisers, Inc. |
|
|
|
|
Seeks long-term capital
growth, consistent with
preservation of capital
and balanced by current
income. |
Janus Henderson Balanced Portfolio:
Service Shares
Janus Henderson Investors US LLC |
|
|
|
|
Seeks to obtain
maximum total return,
consistent with
preservation of capital. |
Janus Henderson Flexible Bond Portfolio:
Service Shares
Janus Henderson Investors US LLC |
|
|
|
|
138 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Non-diversified fund that
pursues its investment
objective by investing
primarily in common
stocks selected for their
growth potential. |
Janus Henderson Research Portfolio:
Service Shares
Janus Henderson Investors US LLC |
|
|
|
|
| |
Lazard Retirement Global Dynamic
Multi-Asset Portfolio - Service Shares1 Lazard Asset Management, LLC |
|
|
|
|
Seeks long-term capital
growth. Income is a
secondary objective. |
LVIP American Century Value Fund, Service
Class
American Century Investment Management,
Inc. |
|
|
|
|
Seeks to provide total
return. |
Macquarie VIP Asset Strategy Series -
Service Class
Delaware Management Company |
|
|
|
|
| |
MFS® Utilities Series - Service Class
Massachusetts Financial Services Company
|
|
|
|
|
The Fund seeks
long-term capital growth
by investing primarily in
common stocks and
other equity securities. |
Morgan Stanley VIF Discovery Portfolio,
Class II Shares
Morgan Stanley Investment Management
Inc. |
|
|
|
|
Seeks long-term growth
of capital by investing
primarily in securities of
companies that meet
the Fund's
environmental, social
and governance (ESG)
criteria. |
Neuberger Berman AMT Sustainable Equity
Portfolio (Class S)
Neuberger Berman Investment Advisers LLC
|
|
|
|
|
Seeks maximum real
return, consistent with
preservation of real
capital and prudent
investment
management. |
PIMCO VIT All Asset Portfolio, Advisor Class3 Pacific Investment Management Company LLC (PIMCO) |
|
|
|
|
Seeks total return which
exceeds that of a blend
of 60% MSCI World
Index/40% Barclays
U.S. Aggregate Index. |
PIMCO VIT Global Managed Asset Allocation
Portfolio, Advisor Class3 Pacific Investment Management Company LLC (PIMCO) |
|
|
|
|
Seeks maximum total
return, consistent with
preservation of capital
and prudent investment
management. |
PIMCO VIT Total Return Portfolio, Advisor
Class
Pacific Investment Management Company
LLC (PIMCO) |
|
|
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 139
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks high current
income, consistent with
preservation of capital,
with capital appreciation
as a secondary
consideration. Under
normal market
conditions, the fund
invests at least 80% of
its net assets in debt
securities of any
maturity. |
Templeton Global Bond VIP Fund - Class 2
Franklin Advisers, Inc. |
|
|
|
|
Seeks long-term capital
appreciation by
investing in common
stocks of gold-mining
companies. The Fund
may take current
income into
consideration when
choosing investments. |
VanEck VIP Global Gold Fund (Class S
Shares)
Van Eck Associates Corporation |
|
|
|
|
Seeks to provide a high
level of total return that
is consistent with an
aggressive level of risk. |
Variable Portfolio - Aggressive Portfolio
Columbia Management Investment Advisers, LLC |
|
|
|
|
Seeks to provide a high
level of total return that
is consistent with a
conservative level of
risk. |
Variable Portfolio - Conservative Portfolio
Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - Managed Risk Fund
Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - Managed Risk U.S. Fund
Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - Managed Volatility
Conservative Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - Managed Volatility
Conservative Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
|
|
|
|
140 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - Managed Volatility Growth
Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund’s
exposure to equity
market volatility. |
Variable Portfolio - Managed Volatility
Moderate Growth Fund (Class 2)1,3 Columbia Management Investment Advisers, LLC |
|
|
|
|
Seeks to provide a high
level of total return that
is consistent with a
moderate level of risk. |
Variable Portfolio - Moderate Portfolio
Columbia Management Investment Advisers, LLC |
|
|
|
|
Seeks to provide a high
level of total return that
is consistent with a
moderately aggressive
level of risk. |
Variable Portfolio - Moderately Aggressive
Columbia Management Investment Advisers, LLC |
|
|
|
|
Seeks to provide a high
level of total return that
is consistent with a
moderately conservative
level of risk. |
Variable Portfolio - Moderately Conservative
Columbia Management Investment Advisers, LLC |
|
|
|
|
Seeks to provide
shareholders with a high
level of current income
while conserving the
value of the investment
for the longest period of
time. |
Variable Portfolio - Partners Core Bond Fund
(Class 2)
Columbia Management Investment Advisers,
LLC, adviser; J.P. Morgan Investment
Management Inc. and Allspring Global
Investments, LLC, subadvisers. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Variable Portfolio - Partners Core Equity Fund
(Class 2)
Columbia Management Investment Advisers,
LLC, adviser; J.P. Morgan Investment
Management Inc. and T. Rowe Price
Associates, Inc., subadvisers. |
|
|
|
|
Seeks to provide
shareholders with
long-term growth of
capital. |
Variable Portfolio - Partners International
Core Equity Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Schroder Investment
Management North America Inc.,
subadviser; Schroder Investment
Management North America Limited,
sub-subadviser. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Variable Portfolio - Partners International
Growth Fund (Class 2)
Columbia Management Investment Advisers
LLC, adviser; William Blair Investment
Management, LLC and Walter Scott &
Partners Limited, subadvisers. |
|
|
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 141
| |
Fund and
Adviser/Sub-Adviser |
Current
Expenses
Ratio
[NET] |
Average Annual Total Returns
(as of 12/31/2024) |
| |
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Variable Portfolio - Partners International
Value Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Pzena Investment
Management, LLC and Thompson, Siegel &
Walmsley LLC, subadvisers. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital growth. |
Variable Portfolio - Partners Small Cap
Growth Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Scout Investments, Inc. and
Allspring Global Investments, LLC,
subadvisers. |
|
|
|
|
Seeks to provide
shareholders with
long-term capital
appreciation. |
Variable Portfolio - Partners Small Cap Value
Fund (Class 2)
Columbia Management Investment Advisers,
LLC, adviser; Segall Bryant & Hamill, LLC
and William Blair Investment Management,
LLC, subadvisers. |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - U.S. Flexible Conservative
Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - U.S. Flexible Growth Fund
Columbia Management Investment Advisers, LLC |
|
|
|
|
Pursues total return
while seeking to
manage the Fund's
exposure to equity
market volatility. |
Variable Portfolio - U.S. Flexible Moderate
Columbia Management Investment Advisers, LLC |
|
|
|
|
Seeks to maximize total
return. |
Western Asset Variable Global High Yield
Bond Portfolio - Class II
Franklin Templeton Fund Adviser, LLC,
adviser; Western Asset Management
Company, LLC, subadviser. |
|
|
|
|
1
This Fund is managed in a way that is intended to minimize volatility of returns. See “Principal Risks of Investing in the Contract.”
2
This Fund and its investment adviser and/or affiliates have entered into a temporary
expense reimbursement arrangement and/or fee waiver. The Fund’s annual expenses reflect temporary fee reductions. Please see the Fund’s prospectus for additional
information.
3
This Fund is a fund of funds and invests substantially all of its assets in other
underlying funds. Because the Fund invests in other funds, it will bear its pro rata portion of the operating expenses of those underlying funds, including management
fees.
142 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
Appendix B:Funds Available Under the Optional Benefits Offered Under the Contract
If you have elected an optional benefit under the contract, your contract may be
subject to investment allocation restrictions, as reflected in the following tables. See “Investment Allocation Restrictions for Certain Benefit Riders” for more details. If your optional benefit is not included below, your contract is not currently subject to any investment
allocation restrictions.
INVESTMENT ALLOCATION RESTRICTIONS FOR THE ACCUMULATION PROTECTOR
BENEFIT RIDER
For contracts issued with the Accumulation Protector Benefit rider, you are required to invest your contract value
in the Portfolio Stabilizer funds listed below:
1.
Variable Portfolio – Managed Risk Fund (Class 2)
2.
Variable Portfolio – Managed Risk U.S. Fund (Class 2)
3.
Variable Portfolio
– Managed Volatility Growth Fund (Class 2)
4.
Variable Portfolio – Managed Volatility Moderate Growth Fund (Class 2)
5.
Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2)
6.
Variable Portfolio
– Managed Volatility Conservative Fund (Class 2)
7.
Variable Portfolio – U.S. Flexible Growth Fund (Class 2)
8.
Variable Portfolio – U.S. Flexible Moderate Growth Fund (Class 2)
9.
Variable Portfolio
– U.S. Flexible Conservative Growth Fund (Class 2)
INVESTMENT ALLOCATION
RESTRICTIONS FOR SECURESOURCE CORE 2 NY, SECURESOURCE 5 NY, SECURESOURCE 5 PLUS NY, SECURESOURCE CORE NY, SECURESOURCE CORE PLUS NY, SECURESOURCE 4 NY OR SECURESOURCE 4 PLUS NY BENEFIT RIDERS
For contracts issued with the SecureSource Core 2 NY, SecureSource 5 NY, SecureSource
5 Plus NY, SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, SecureSource 4 Plus NY benefit riders, alone or in combination
with the optional SecureSource Legacy benefit rider, you are required to invest your
contract value in the Portfolio
Stabilizer funds or certain Portfolio Navigator funds listed below:
The Portfolio Stabilizer funds currently available are:
1. Variable Portfolio – Managed Risk Fund (Class 2)
2. Variable Portfolio – Managed Risk U.S. Fund (Class 2)
3. Variable Portfolio – Managed Volatility Growth Fund (Class 2)
4. Variable Portfolio – Managed Volatility Moderate Growth Fund (Class
2)
5. Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2)
6. Variable Portfolio – Managed Volatility Conservative Fund (Class
2)
7. Variable Portfolio – U.S. Flexible Growth Fund (Class 2)
8. Variable Portfolio – U.S. Flexible Moderate Growth Fund (Class 2)
9. Variable Portfolio – U.S. Flexible Conservative Growth Fund (Class 2)
The Portfolio Navigator funds currently available are:
1. Variable Portfolio – Moderate Portfolio (Class 2)
2. Variable Portfolio – Moderately Conservative Portfolio (Class 2)
3. Variable Portfolio – Conservative Portfolio (Class 2)
INVESTMENT ALLOCATION RESTRICTIONS FOR THE SECURESOURCE TEMPO NYRIDER
If you elect the SecureSource Tempo NY rider, alone or in combination with the optional SecureSource Legacy benefit
rider, you must allocate your purchase payments and contract value according to either Investment Path 1 or Investment Path 2 below.
Investment Path 1. You must allocate 100 % of your purchase payments and contract value among the following funds:
1.
Columbia Variable Portfolio – Balanced Fund (Class 2)
2.
Variable Portfolio – Managed Risk Fund (Class 2)
3.
Variable Portfolio
– Managed Risk U.S. Fund (Class 2)
4.
Variable Portfolio – Managed Volatility Growth Fund (Class 2)
5.
Variable Portfolio – Managed Volatility Moderate Growth Fund (Class 2)
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 143
6.
Variable Portfolio
– Managed Volatility Conservative Growth Fund (Class 2)
7.
Variable Portfolio – Managed Volatility Conservative Fund (Class 2)
8.
Variable Portfolio – U.S. Flexible Growth Fund (Class 2)
9.
Variable Portfolio
– U.S. Flexible Moderate Growth Fund (Class 2)
10.
Variable Portfolio – U.S. Flexible Conservative Growth Fund (Class 2)
11.
Variable Portfolio – Aggressive Portfolio (Class 2)
12.
Variable Portfolio
– Moderately Aggressive Portfolio (Class 2)
13.
Variable Portfolio – Moderate Portfolio (Class 2)
14.
Variable Portfolio – Moderately Conservative Portfolio (Class 2)
15.
Variable Portfolio
– Conservative Portfolio (Class 2)
Investment Path 2. This option requires 100% allocation of your purchase payments and contract value among the Funds in Groups A, B, and C subject to the requirements and limitations as shown below. If you select this
option, you agree to be automatically enrolled in the portfolio rebalancing program and thereby authorize us to automatically rebalance your contract value on a quarterly
basis.
Group A – Fixed Income: Minimum of 20%
Available funds with a Maximum Fund Allocation of 100%
1.
Columbia Variable Portfolio – Intermediate Bond Fund (Class 2)
2.
Columbia Variable
Portfolio – Limited Duration Credit Fund (Class 2)
3.
Columbia Variable Portfolio – U.S. Government Mortgage Fund (Class 2)
4.
CTIVP – American Century Diversified Fund (Class 2)
5.
CTIVP – TCW
Core Plus Bond Fund (Class 2)
6.
Variable Portfolio – Partners – Core Bond Fund (Class 2)
7.
Columbia variable Portfolio – Government Money Market Fund (Class 2)
Group B
– Asset Allocation, Large Cap and International Equity funds: Maximum of 80%
Available Asset Allocation funds with a Maximum Fund Allocation of
80%
1.
Variable Portfolio – Managed Volatility Growth Fund (Class 2)
2.
Variable Portfolio
– Managed Volatility Moderate Growth Fund (Class 2)
3.
Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2)
4.
Variable Portfolio – Managed Volatility Conservative Fund (Class 2)
5.
Variable Portfolio
–U.S. Flex Growth Fund (Class 2)
6.
Variable Portfolio –U.S. Flex Moderate Growth Fund (Class 2)
7.
Variable Portfolio –U.S. Flex Conservative Fund (Class 2)
8.
Variable Portfolio
– Managed Risk Fund (Class 2)
9.
Variable Portfolio – Managed Risk U.S. Fund (Class 2)
10.
Variable Portfolio – Aggressive Portfolio (Class 2)
11.
Variable Portfolio
– Moderately Aggressive Portfolio (Class 2)
12.
Variable Portfolio – Moderate Portfolio (Class 2)
13.
Variable Portfolio – Moderately Conservative Portfolio (Class 2)
14.
Variable Portfolio
– Conservative Portfolio (Class 2)
15.
Columbia Variable Portfolio – Balanced Fund (Class 2)
Available Large Cap and International Equity funds with a Maximum Fund Allocation of 30%
1.
Columbia Variable Portfolio – Contrarian Core Fund (Class 2)
2.
Columbia Variable
Portfolio – Disciplined Core Fund (Class 2)
3.
Columbia Variable Portfolio – Dividend Opportunity Fund (Class 2)
4.
Columbia Variable Portfolio – Large-Cap Growth Fund (Class 2)
5.
Columbia Variable
Portfolio – Large-Cap Index Fund (Class 2)
6.
Columbia Variable Portfolio – Select Large-Cap Value Fund (Class 2)
7.
CTIVP – Principal Blue Chip Growth Fund (Class 2)
144 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
8.
CTIVP – MFS
Value Fund (Class 2)
9.
CTIVP – T. Rowe Price Large-Cap Value Fund (Class 2)
10.
Variable Portfolio – Partners Core Equity Fund (Class 2)
11.
Columbia Variable
Portfolio – Overseas Core Fund (Class 2)
12.
Variable Portfolio – Partners International Core Equity Fund (Class 2)
13.
Variable Portfolio – Partners International Growth Fund (Class 2)
14.
Variable Portfolio
– Partners International Value Fund (Class 2)
Group C – Large Cap Aggressive Growth, Mid Cap, Small Cap
and Emerging Markets: Maximum of 20%
Available funds with a Maximum Fund Allocation of 5%
1.
CTIVP - Morgan Stanley Advantage Fund (Class 2)
2.
Columbia Variable
Portfolio – Select Mid Cap Growth Fund (Class 2)
3.
Columbia Variable Portfolio - Select Mid Cap Value Fund (Class 2)
4.
CTIVP - Victory Sycamore Established Value Fund (Class 2)
5.
CTIVP - Westfield
Mid Cap Growth Fund (Class 2)
6.
Columbia Variable Portfolio - Select Small-Cap Value Fund (Class 2)
7.
Variable Portfolio - Partners Small Cap Growth Fund (Class 2)
8.
Variable Portfolio
- Partners Small Cap Value Fund (Class 2)
9.
Columbia Variable Portfolio - Emerging Markets Fund (Class 2)
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 145
Appendix C: Example — Surrender Charges
We determine your surrender charge by multiplying the amount of each purchase payment surrendered which could be subject
to a surrender charge by the applicable surrender charge percentage, and then totaling the surrender charges. We calculate the amount of purchase payments surrendered (PPS)
as:
| |
|
|
| |
|
purchase payments surrendered that could be subject to a surrender charge |
| |
|
(PS – FA) / (CV – FA) × (PP – PPF) |
| |
|
purchase payments surrendered that are not subject to a surrender charge |
| |
|
FA – contract earnings, but not less than zero |
| |
|
purchase payments not previously surrendered (total purchase payments – PPS from all previous
surrenders) |
| |
|
amount the contract value is reduced by the surrender |
| |
|
total free amount = greater of contract earnings or 10% of prior anniversary’s contract value |
| |
|
contract value prior to the surrender |
When determining the surrender charge, contract earnings are defined as the contract value less purchase payments not previously surrendered. We determine current contract earnings by looking at the entire contract value, not the
earnings of any particular subaccount, the regular fixed account, the Special DCA fixed account. If the contract value is less than purchase payments received and not previously surrendered, then contract earnings are
zero.
The examples below show how the surrender charge for a full and partial surrender is calculated. Each example
illustrates the amount of the surrender charge for both a contract that experiences gains and a contract that
experiences losses, given the same set of assumptions.
Full surrender charge calculation — ten-year surrender charge
schedule:
This is an example of how we calculate the surrender charge on a contract with a ten-year (from the date of each
purchase payment) surrender charge schedule and the following history:
•
We receive a single $50,000 purchase payment;
•
During the
fourth contract year you surrender the contract for its total value. The surrender charge percentage in the fourth year after a purchase payment is 7.0%; and
•
You have made no prior surrenders.
We will look at two situations, one
where the contract has a gain and another where there is a loss:
| |
|
|
|
| |
Contract value just prior to surrender: |
|
|
| |
Contract value on prior anniversary: |
|
|
We calculate the surrender charge as follows: |
| |
First, we determine the amount of earnings available in the contract at the time of
surrender as: |
|
|
| |
Contract value just prior to surrender (CV): |
|
|
| |
Less purchase payments received and not previously surrendered (PP): |
|
|
| |
Earnings in the contract (but not less than zero): |
|
|
| |
Next, we determine the total free amount (FA) available in the contract as the
greatest of the following values: |
|
|
| |
Earnings in the contract: |
|
|
| |
10% of the prior anniversary’s contract value: |
|
|
| |
FA (but not less than zero): |
|
|
| |
Next we determine PPF, the amount by which the total free amount (FA) exceeds
earnings. |
|
|
| |
|
|
|
| |
Less earnings in the contract: |
|
|
| |
PPF (but not less than zero): |
|
|
146 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
| |
|
|
|
| |
Next we determine PS, the amount by which the contract value is reduced by the
surrender. |
|
|
| |
|
|
|
| |
Now we can determine how much of the PP is being surrendered (PPS) as follows: |
|
|
| |
|
|
|
|
| |
|
= PPF + (PS − FA) / (CV − FA) * (PP − PPF) |
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
We then calculate the surrender charge as a percentage of PPS. Note that for a
contract with a loss, PPS may be greater than the amount you request to
surrender: |
|
|
| |
|
|
|
| |
|
|
|
| |
PPSC = amount of PPS subject to a surrender charge: |
|
|
| |
multiplied by the surrender charge rate: |
|
|
| |
|
|
|
| |
The dollar amount you will receive as a result of your full surrender is determined
as: |
|
|
| |
Contract value surrendered: |
|
|
| |
|
|
|
| |
Contract charge (assessed upon full surrender): |
|
|
| |
Net full surrender proceeds: |
|
|
Partial surrender charge calculation — ten-year surrender charge schedule:
This is an example of how we calculate the surrender charge on a contract with a ten-year (from the date of each
purchase payment) surrender charge schedule and the following history:
•
We receive a single $50,000 purchase payment;
•
During the
fourth contract year you request a net partial surrender of $15,000.00. The surrender charge percentage in the fourth year after a purchase payment is 7.0%; and
•
You have made no prior surrenders.
| |
|
|
Contract value just prior to surrender: |
|
|
Contract value on prior anniversary: |
|
|
We determine the amount of contract value that must be surrendered in order for the net partial surrender proceeds to
match the amount requested. We start with an estimate of the amount of contract value to surrender
and calculate the resulting surrender charge and net partial surrender proceeds as
illustrated below. We then adjust our estimate and repeat until we determine the
amount of contract value to surrender that generates the desired net partial surrender
proceeds. |
We calculate the surrender charge for each estimate as follows: |
| |
First, we determine the amount of earnings available in the contract at the time of
surrender as: |
|
|
| |
Contract value just prior to surrender (CV): |
|
|
| |
Less purchase payments received and not previously surrendered (PP): |
|
|
| |
Earnings in the contract (but not less than zero): |
|
|
| |
Next, we determine the total free amount (FA) available in the contract as the
greatest of the following values: |
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 147
| |
|
|
| |
Earnings in the contract: |
|
|
| |
10% of the prior anniversary’s contract value: |
|
|
| |
FA (but not less than zero): |
|
|
| |
Next we determine PPF, the amount by which the total free amount (FA) exceeds
earnings. |
|
|
| |
|
|
|
| |
Less earnings in the contract: |
|
|
| |
PPF (but not less than zero): |
|
|
| |
Next we determine PS, the amount by which the contract value is reduced by the
surrender. |
|
|
| |
PS (determined by iterative process described above): |
|
|
| |
Now we can determine how much of the PP is being surrendered (PPS) as follows: |
|
|
| |
|
|
|
|
| |
|
= PPF + (PS − FA) / (CV − FA) * (PP − PPF) |
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
We then calculate the surrender charge as a percentage of PPS. Note that for a
contract with a loss, PPS may be greater than the amount you request to
surrender: |
|
|
| |
|
|
|
| |
|
|
|
| |
PPSC = amount of PPS subject to a surrender charge: |
|
|
| |
multiplied by the surrender charge rate: |
|
|
| |
|
|
|
| |
The dollar amount you will receive as a result of your partial surrender is
determined as: |
|
|
| |
Contract value surrendered: |
|
|
| |
|
|
|
| |
Net partial surrender proceeds: |
|
|
148 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Appendix D: Example — Optional Death Benefits
The purpose of this appendix is to illustrate the operation of various optional death benefit riders.
In order to demonstrate these contract riders, an example may show hypothetical contract values. These contract values do not represent past or future performance. Actual contract values may be more or less than those shown and will depend on a number of factors, including but not limited to the investment experience of the subaccounts, Special DCA fixed account, regular fixed account and the fees and charges that apply
to your contract.
The examples of the optional death benefits in appendix include partial surrenders to illustrate the effect of partial surrenders on the particular benefit. These examples are intended to show how the optional death benefits operate, and do not take into account whether a particular optional death benefit is part of a qualified annuity. Qualified annuities are subject to RMDs at certain ages (see “Taxes — Qualified Annuities — Required Minimum Distributions”) which may require you to take partial surrenders from the contract. If you are considering the addition of certain death benefits to a qualified annuity, you should consult your tax advisor prior to making a purchase for an explanation of the potential tax implication to you.
Example — ROPP Death Benefit
•
You purchase the contract (with the ROPP rider) with a payment of $20,000.
•
The contract value falls to $18,000, at which point you take a $1,500 partial surrender, leaving a contract value of
$16,500.
We calculate the death benefit as follows: |
|
|
The total purchase payments minus adjustments for partial surrenders: |
|
|
| |
|
|
|
| |
minus adjusted partial surrenders, calculated as: |
|
|
| |
|
|
|
|
| |
|
|
|
| |
|
|
|
Example — MAV Death Benefit
•
You purchase the contract (with the MAV rider) with a payment of $20,000.
•
On the first
contract anniversary the contract value grows to $24,000.
•
During the second contract year the contract value falls to $22,000, at which point you take
a $1,500 partial surrender, leaving a contract value of $20,500.
We calculate the death benefit as follows:
|
|
|
The maximum anniversary value immediately preceding the date of death plus any payments made since
that anniversary minus adjusted partial surrenders: |
|
|
| |
Greatest of your contract anniversary contract values: |
|
|
| |
plus purchase payments made since that anniversary: |
|
|
| |
minus adjusted partial surrenders, calculated as: |
|
|
| |
|
|
|
|
| |
|
|
|
| |
|
|
|
Example — 5-Year MAV Death
Benefit
•
You purchase the contract (with the 5-Year MAV rider) with a payment of $20,000.
•
On the fifth contract anniversary the contract value grows to $30,000.
•
During the
sixth contract year the contract value falls to $25,000, at which point you take a $1,500 partial surrender, leaving a contract value of $23,500.
We calculate the death benefit as follows: |
|
|
The maximum 5-year anniversary value immediately preceding the date of death plus any payments made
since that anniversary minus adjusted partial surrenders: |
|
|
| |
Greatest of your 5-year contract anniversary contract values: |
|
|
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 149
| |
plus purchase payments made since that anniversary: |
|
|
| |
minus adjusted partial surrenders, calculated as: |
|
|
| |
|
|
|
|
| |
|
|
|
| |
|
|
|
150 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Appendix E: Example — Optional Living Benefits
The purpose of this appendix is to illustrate the operation of various optional living benefit riders.
In order to demonstrate these contract riders, an example may show hypothetical contract values. These contract values do not represent past or future performance. Actual contract values may be more or less than those shown and will depend on a number of factors, including but not limited to the investment experience of the subaccounts, Special DCA fixed account, regular fixed account and the fees and charges that apply
to your contract.
These examples are intended to show how the optional riders operate, and do not take into account whether a particular optional rider is part of a qualified annuity. Qualified annuities are subject to RMDs at certain ages (see “Taxes — Qualified Annuities — Required Minimum Distributions”) which may require you to take partial surrenders from the contract. If you are considering the addition of certain optional riders to a qualified annuity, you should consult your tax advisor prior to making a purchase for an explanation of the potential tax implication to you.
EXAMPLE — SECURESOURCE CORE NY/ SECURESOURCE CORE PLUS NY/ SECURESOURCE CORE 2
NY RIDERS
•
You purchase the contract with a Single Life benefit and a payment of $100,000 and make no additional payments to the
contract. You also purchase the SecureSource Legacy benefit.
•
You are the sole owner and also the annuitant. You are age 61.
•
This example
uses a Lifetime Payment Percentage of 4.00% at age 61, 5.00% at age 65, and 5.20% at age 70. Your Lifetime Payment Percentage will be based on the rider you choose and your
age.
•
Annual Step-ups are applied each anniversary when available, where the contract value is
greater than the Benefit Base and/or the SecureSource Legacy Death Benefit. Applied Annual Step-ups are indicated in bold.
Contract
Duration
in Years |
|
|
|
|
|
|
|
Lifetime
Payment
Percentage |
SecureSource
Legacy
Death
Benefit |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
(1)
Since the contract value was greater than the Benefit Base (after it was increased by the
Annual Credit), the Credit Base is increased to the contract value and future Annual Credits will be based on the new (higher) Credit Base.
(2)
Since a withdrawal was taken in the previous contract year, the Annual Credit is not
available on the 4th Anniversary.
(3)
Because the annual step-up increased the Benefit Base on the anniversary and the covered
person's attained age is in a higher age band, the Lifetime Payment Percentage
increased.
(4)
The $10,000 withdrawal is greater than the $7,420 Remaining Annual Payment allowed under the
rider and therefore excess withdrawal processing is applied. Values are calculated as described in 'Lifetime Benefit Description - Determination of Adjustment of Benefit
Values'.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 151
EXAMPLE
— SECURESOURCE 4 NY/SECURESOURCE 4 PLUS NY/ SECURESOURCE 5 NY/SECURESOURCE 5 PLUS NY RIDERS
•
You purchase the contract with a Single Life benefit and a payment of $100,000 and make no
additional payments to the contract. You also purchase the SecureSource Legacy benefit.
•
You are the sole owner and also the annuitant. You are age 61.
•
This example uses a minimum Lifetime Payment Percentage of 3.60% at age 61, 4.70% at age 65, and 4.90% at age 70. The
Income Bonus used in the example is 1.00%. Your Lifetime Payment Percentage, including any Income Bonus percentage, will be based on the rider you choose and your age.
•
Annual Step-ups are applied each anniversary when available, where the contract value is greater than the Benefit base
and/or SecureSource Legacy Death Benefit. Applied Annual Step-ups are indicated in
bold.
Contract
Duration
in Years |
|
|
|
|
|
Withdrawal
Adjustment
Base |
Benefit
Determining
Percentage |
|
|
Lifetime
Payment
Percentage |
Secure-
Source
Legacy
Death
Benefit |
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
(1)
This includes the 1.00% Income Bonus because the Benefit Determining Percentage is below 20%.
(2)
Since the contract value was greater than the Benefit Base (after it was increased by the Annual Credit), the Credit Base is increased to the contract value and future Annual Credits will be based on the new (higher) Credit Base.
(3)
Since a withdrawal was taken in the previous contract year, the Annual Credit is not available on the 4th Anniversary.
(4)
Because the annual step-up increased the BB on the anniversary and the covered person's
attained age is in a higher age band, the Lifetime Payment Percentage increased.
(5)
The $10,000 withdrawal is greater than the $8,459 Remaining Annual Payment allowed under the rider and therefore excess withdrawal processing is applied. Values are reset as described in "Lifetime Benefit Description - Determination of Adjustment of Benefit Values".
(6)
The Lifetime Payment Percentage does not include the 1% Income Bonus when the Benefit
Determining Percentage is 20% or more.
152 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
EXAMPLE
— SECURESOURCE TEMPO NY
•
You purchase the contract with the Single Life benefit and a payment of $100,000 and make no additional payments to the
contract. You also purchase the SecureSource Legacy benefit.
•
You are the sole owner and also the annuitant. You are age 61.
•
This example
uses a minimum Lifetime Payment Percentage of 3.60% at age 61, 4.70% at age 65, and 4.90% at age 70. The Income Bonus used in the example is 1.00%. Your Lifetime Payment
Percentage, including any Income Bonus percentage, will be based on the rider you choose and your age.
•
Annual Step-ups are applied each anniversary when available, where the contract value is
greater than the Benefit base and/or the SecureSource Legacy Death Benefit. Applied Annual Step-ups are indicated in bold.
Contract
Duration
in Years |
|
|
|
|
|
|
Withdrawal
Adjustment
Base |
Benefit
Determining
Percentage |
|
|
Lifetime
Payment
Percentage |
Secure-
Source
Legacy
Death
Benefit |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
(1)
This includes the 1.00% Income Bonus because the Benefit Determining Percentage is below 20%.
(2)
Returns linked credit and Credit carryover are based on the $9,500 positive contract returns (i.e. contract value increased from $94,000 to $103,500). The maximum credit and maximum carryover are 10% of prior anniversary contract value.
(3)
Since the contract value was greater than the Benefit Base after it was increased by the Returns-linked Credit, the Benefit Base is increased to the contract value.
(4)
Since a withdrawal was taken in the previous contract year, the Returns-linked Credit is not
available on the 4th Anniversary and the Credit Carryover is not increased.
(5)
Contract return used for credit is zero so the Returns-linked credit is from the Credit Carryover.
(6)
The $10,000 withdrawal is greater than the $7,008 Remaining Annual Payment allowed under the rider and therefore excess withdrawal processing is applied. Values are reset as described in "Lifetime Benefit Description - Determination of Adjustment of Benefit Values".
(7)
The Lifetime Payment Percentage does not include the 1% Income Bonus when the Benefit
Determining Percentage is 20% or more.
Example — Accumulation Protector Benefit
The following example shows how the Accumulation Protector Benefit rider works based on hypothetical values. It is not
intended to depict investment performance of the contract.
•
You purchase the contract (with the Accumulation Protector Benefit rider) with a payment of
$100,000.
•
You make no additional purchase payments.
•
You do not exercise the elective step-up option.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 153
| |
Partial Surrender (beginning of year) |
MCAV Adjustment for Partial Surrender |
|
Accumulation Benefit Amount |
Hypothetical Assumed Contract Value |
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
154 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Appendix F: Additional Required Minimum Distribution (RMD) Disclosure
This appendix describes our current administrative practice for determining the amount of withdrawals in any contract year which an owner may take under the SecureSource series rider to satisfy the RMD rules under 401(a)(9) of the Code without application of the excess withdrawal processing described in the rider. We reserve the right to modify this
administrative practice at any time upon 30 days’ written notice to you.
For contract holders subject to annual RMD rules under the
Section 401(a)(9) of the Code, amounts you withdraw from this contract to satisfy these rules are not subject to excess withdrawal processing under the terms of the rider,
subject to the following rules and our current administrative practice:
(1)
Each calendar year, if your Annual Life Expectancy Required Minimum Distribution Amount
(ALERMDA) is greater than the Current Annual Payment.
•
A Lifetime Additional Benefit Amount (LABA) will be set equal to that portion of your ALERMDA
that exceeds the value of Current Annual Payment.
•
The LABA will be reduced by the total of the amount that each withdrawal in the current
calendar year exceeds the Remaining Annual Payment at the time of each withdrawal, but shall not be reduced
to less than zero.
•
Any withdrawals taken in a contract year will count first against and reduce the Remaining Annual Payment for that contract
year.
•
Once the Remaining
Annual Payment for the current contract year has been depleted, any additional amounts withdrawn will count
against and reduce the LABA. These withdrawals will not be considered excess withdrawals with regard to the
Current Annual Payment as long as they do not exceed the remaining LABA.
•
Once the LABA has been depleted, any additional withdrawal amounts will be considered excess
withdrawals with regard to the Current Annual Payment and will subject the Current Annual Payment to
the excess withdrawal processing described by the SecureSource series rider.
(1)
determined by us each calendar year;
(2)
based on your
initial purchase payment and not the entire interest value in the calendar year of contract issue and therefore may not be sufficient to allow you to withdraw your RMD without
causing an excess withdrawal;
(3)
based on the value of this contract alone on the date it is determined;
(4)
based on recalculated life expectancy taken from the Uniform Lifetime Table under the Code; and
(5)
based on the
company’s understanding and interpretation of the requirements for life expectancy distributions intended to satisfy the required minimum distribution rules under Code
Section 401(a)(9) and the Treasury Regulations promulgated thereunder as applicable on the effective date of this prospectus, to:
1.
IRAs under Section
408(b) of the Code;
2.
Roth IRAs under Section 408A of the Code;
3.
SIMPLE IRAs under Section 408(p) of the Code;
4.
Simplified Employee Pension IRA (SEP) plans under Section 408(k) of the Code;
5.
Custodial and investment only plans under section 401(a) of the Code;
6.
TSAs under Section 403(b) of the Code.
In the future, the requirements under tax law for such distributions may change and the life expectancy amount calculation provided under your SecureSource series rider may not be sufficient to satisfy the requirements under the tax law for these types of distributions. In such a situation, amounts withdrawn to satisfy such distribution requirements
will exceed your available Remaining Annual Payment amount and may result in the reduction of your Current Annual Payment as described under the excess withdrawal provision of the rider.
In cases where the Code does not allow the life expectancy of a natural person to be used to calculate the required
minimum distribution amount (e.g. some ownerships by trusts and charities), we will calculate the life expectancy RMD amount as zero in all years.
Please consult your tax advisor about the impact of these rules prior to purchasing
the SecureSource series rider.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 155
Appendix G: Prospectus Rate Sheet Supplements
The purpose of this appendix is to show historic rates filed with the following Prospectus Rate Sheet Supplements:
•
Rate Sheet Prospectus Supplement dated April 29, 2019 – applicable to contracts with
applications signed from 4/29/2019 through 10/27/2019;
•
Rate Sheet
Prospectus Supplement dated Oct. 14, 2019 – applicable to contracts with applications signed from 10/28/2019 through 3/29/2020;
•
Rate Sheet Prospectus Supplement dated March 16, 2020 – applicable to contracts with
applications signed from 3/30/2020 through 4/30/2020;
•
Rate Sheet
Prospectus Supplement dated May 1, 2020 – applicable to contracts with applications signed from 5/1/2020 through 5/2/2021;
•
Rate Sheet Prospectus Supplement dated May 1, 2021– applicable to contracts with
applications signed from 5/3/2021 through 4/28/2022;
•
Rate Sheet
Prospectus Supplement dated April 29, 2022 – applicable to contracts with applications signed from 4/29/2022 through 6/24/2022
156 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Rate Sheet Prospectus Supplement dated April 29,
2019 |
| |
|
RiverSource RAVA 5
Advantage® Variable
Annuity (Offered for contract applications signed on or after April
29, 2019) |
|
Rate Sheet prospectus Supplement
This Rate Sheet Prospectus Supplement (this
“Supplement”) should be read and retained with your prospectus. This Supplement must be used in conjunction with the effective RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract applications signed or after April 29, 2019) prospectus. If you need another copy of the prospectus, please call
us at 1-800-862-7919. Historical rate sheet supplements will be reflected in an appendix to this prospectus. For additional information, you may consult your financial advisor or call us at 1-800-862-7919.
The Rate Sheet Prospectus Supplement has been filed with the
Securities and Exchange Commission (the “SEC”) and is also available on the Edgar system at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract applications signed or after April 29, 2019)).
We are issuing this Supplement to provide the:
•
Current rider fees for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and
SecureSource 4 Plus NY optional benefit riders;
•
Lifetime Payment Percentages and Age Bands for the SecureSource Core NY, SecureSource Core Plus NY,
SecureSource 4 NY, and SecureSource 4 Plus NY optional benefit riders;
•
Income Bonus Percentage for the SecureSource 4 NY and SecureSource 4 Plus NY optional benefit riders;
•
Annual Credit percentage and Annual Credit duration for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource
4 Plus NY optional benefit riders;
•
Base Doubler
age used to determine Base Doubler Date for the SecureSource Core Plus NY optional
benefit rider;
•
Issue Ages for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource 4 Plus NY optional benefit riders.
The rider fees, percentages, age bands, credit period and
terms, listed below apply to applications signed on or after April 29, 2019.
In order to get these terms, your application must be signed and in good order while this Rate Sheet Prospectus Supplement is in effect. Because we reserve the right to change these terms upon notice as provided below, if your application is not signed and in good order while this Rate Sheet Prospectus Supplement is in effect then you will receive the terms that are in effect on the date that you have a signed application in good order. The rider fees, percentages, age bands, credit period and terms, listed below will not change after your application is signed, except as provided in the prospectus (See “Charges – Optional Living Benefit Charges”; “SecureSource Core NY Rider – Lifetime Payment
Percentage/Annual Credits; “SecureSource Core Plus NY Rider– Lifetime Payment Percentage/ Annual Credits/Base Doubler”;
“SecureSource 4 NY Rider– Lifetime Payment
Percentage /Annual Credits”; “SecureSource
4 Plus NY Rider– Lifetime Payment Percentage/Annual Credits/Base Doubler”).
The rider fees, percentages, age bands, credit period and terms listed in this Rate Sheet Prospectus Supplement are subject to change and can be superseded upon 14 days prior notice as provided below. We may periodically issue a new Rate Sheet Prospectus Supplement that may reflect different values than the previous Rate Sheet Prospectus Supplement. Please note that any superseding terms do not apply to applications that are already signed and received by us in good order. Changes to the rider fees, percentages, age bands, credit period or terms listed in this Rate Sheet Prospectus Supplement will be disclosed at least 14 days in advance in a new Rate Sheet Prospectus Supplement filed on Edgar at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract applications signed on or after April 29, 2019)).
| |
|
|
| |
|
|
SecureSource
Core Plus
NYSM |
|
|
| |
|
|
| |
|
|
(Charged annually on the contract anniversary as a percentage of contract value or the
Benefit Base, whichever is greater.)
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 157
LIFETIME PAYMENT PERCENTAGE
The Lifetime Payment Percentage is used to calculate the Current Annual Payment.
SecureSource Core NY
Rider
| |
Lifetime Payment
Percentage – Single Life |
Lifetime Payment
Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
*For Joint Life, the Age Band is 63-64.
SecureSource Core Plus NY Rider
| |
Lifetime Payment
Percentage – Single Life |
Lifetime Payment
Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
Minimum Lifetime Payment
Percentage – Single Life |
Minimum Lifetime Payment
Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
SecureSource 4 Plus NY Rider
| |
Minimum Lifetime Payment
Percentage – Single Life |
Minimum Lifetime Payment
Percentage – Joint Life* |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
* For Joint Life, the Age Band is 61-64.
ANNUAL CREDIT
PERCENTAGE AND CrEDIT PERIOD:
| |
|
|
| |
|
|
SecureSource
Core Plus
NYSM |
|
|
| |
|
|
| |
|
|
base doubler age – for SecureSource Core plus NY riders:
158 RiverSource RAVA 5
Advantage Variable Annuity NY — Prospectus
issue
ages:
| |
|
|
| |
|
|
SecureSource
Core Plus
NYSM |
|
|
| |
|
|
| |
|
|
*Issue ages from 81 through 85 require prior approval.
THIS SUPPLEMENT SHOULD BE READ AND RETAINED
FOR FUTURE REFERENCE.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 159
Rate Sheet Prospectus Supplement dated October 14, 2019 to the Prospectus Dated April 29, 2019 |
| |
|
RiverSource RAVA 5
Advantage® Variable
Annuity (Offered for contract applications signed on or after April
29, 2019) |
|
Rate Sheet prospectus Supplement
This Rate Sheet Prospectus Supplement (this
“Supplement”) should be read and retained with your prospectus. This Supplement must be used in conjunction with the effective RiverSource RAVA 5 Advantage Variable
Annuity (Offered for contract applications signed or after April 29, 2019) prospectus. If you need another copy of the prospectus, please call us at 1-800-862-7919. Historical rate sheet supplements will be reflected in an appendix to this prospectus. For
additional information, you may consult your financial advisor or call us at 1-800-862-7919.
The Rate Sheet Prospectus Supplement has been filed with the Securities and Exchange Commission (the “SEC”) and is also available on the Edgar system at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5
Advantage Variable Annuity (Offered for contract applications signed or after April
29, 2019)).
We are issuing this Supplement to provide the:
•
Current rider fees for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource
4 Plus NY optional benefit riders;
•
Lifetime
Payment Percentages and Age Bands for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource 4 Plus NY optional benefit riders;
•
Income Bonus Percentage for the SecureSource 4 NY and SecureSource 4 Plus NY optional benefit riders;
•
Annual Credit percentage and Annual Credit duration for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource
4 Plus NY optional benefit riders;
•
Base Doubler
age used to determine Base Doubler Date for the SecureSource Core Plus NY optional
benefit rider;
•
Issue Ages for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource 4 Plus NY optional benefit riders.
The rider fees, percentages, age
bands, credit period and terms listed below apply to applications signed on or after October 28, 2019.
In order to get these terms, your application must be signed and in good order while this Rate Sheet Prospectus Supplement is in effect. Because we reserve the right to change these terms upon notice as provided below, if your application is not signed and in good order while this Rate Sheet Prospectus Supplement is in effect then you will receive the terms that are in effect on the date that you have a signed application in good order. The rider fees, percentages, age bands, credit period and terms, listed below will not change after your application is signed, except as provided in the prospectus (See “Charges – Optional Living Benefit Charges”; “SecureSource Core NY Rider – Lifetime Payment
Percentage/Annual Credits; “SecureSource Core Plus NY Rider – Lifetime Payment Percentage/ Annual Credits/Base Doubler”;
“SecureSource 4 NY Rider – Lifetime Payment
Percentage /Annual Credits”; “SecureSource
4 Plus NY Rider – Lifetime Payment Percentage/Annual Credits/Base Doubler”).
The rider fees, percentages, age bands, credit period and terms listed in this Rate Sheet Prospectus Supplement are subject to change and can be superseded upon 14 days prior notice as provided below. We may periodically issue a new Rate Sheet Prospectus Supplement that may reflect different values than the previous Rate Sheet Prospectus Supplement. Please note that any superseding terms do not apply to applications that are already signed and received by us in good order. Changes to the rider fees, percentages, age bands, credit period or terms listed in this Rate Sheet Prospectus Supplement will be disclosed at least 14 days in advance in a new Rate Sheet Prospectus Supplement filed on Edgar at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract applications signed on or after April 29, 2019)).
160 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
RIDER
FEES
| |
|
|
| |
|
|
SecureSource Core Plus NYSM |
|
|
| |
|
|
| |
|
|
(Charged annually on the contract anniversary as a percentage of contract value or the
Benefit Base, whichever is greater.)
LIFETIME PAYMENT PERCENTAGE
The Lifetime Payment Percentage is used to calculate the Current Annual Payment.
SecureSource Core NY
Rider
| |
Lifetime Payment
Percentage – Single Life |
Lifetime Payment
Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
* For Joint Life, the Age Band is 60-64.
SecureSource Core Plus NY Rider
| |
Lifetime Payment
Percentage – Single Life |
Lifetime Payment
Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
* For Joint Life, the Age Band is 62-64.
| |
Minimum Lifetime Payment
Percentage – Single Life |
Minimum Lifetime Payment
Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
SecureSource 4 Plus NY Rider
| |
Minimum Lifetime Payment
Percentage – Single Life |
Minimum Lifetime Payment
Percentage – Joint Life* |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
* For Joint Life, the Age Band is 60-64.
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 161
ANNUAL CREDIT PERCENTAGE AND CrEDIT PERIOD:
| |
|
|
| |
|
|
SecureSource Core Plus NYSM |
|
|
| |
|
|
| |
|
|
base doubler age – for SecureSource Core plus NY riders:
| |
|
|
| |
|
|
SecureSource Core Plus NYSM |
|
|
| |
|
|
| |
|
|
* Issue ages from 81 through 85 require prior approval.
THIS SUPPLEMENT SHOULD BE READ AND RETAINED
FOR FUTURE REFERENCE.
162 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
Rate Sheet Prospectus Supplement dated March 16, 2020 to the Prospectus Dated April 29, 2019 |
| |
|
RiverSource RAVA 5
Advantage® Variable
Annuity (Offered for contract applications signed on or after April
29, 2019) |
|
Rate Sheet prospectus Supplement
This Rate Sheet Prospectus Supplement (this
“Supplement”) should be read and retained with your prospectus. This Supplement must be used in conjunction with the effective RiverSource RAVA 5 Advantage Variable
Annuity (Offered for contract applications signed or after April 29, 2019) prospectus. If you need another copy of the prospectus, please call us at 1-800-862-7919. Historical rate sheet supplements will be reflected in an appendix to this prospectus. For
additional information, you may consult your financial advisor or call us at 1-800-862-7919.
The Rate Sheet Prospectus Supplement has been filed with the Securities and Exchange Commission (the “SEC”) and is also available on the Edgar system at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5
Advantage Variable Annuity (Offered for contract applications signed or after April
29, 2019)).
We are issuing this Supplement to provide the:
•
Current rider fees for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource
4 Plus NY optional benefit riders;
•
Lifetime
Payment Percentages and Age Bands for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource 4 Plus NY optional benefit riders;
•
Income Bonus Percentage for the SecureSource 4 NY and SecureSource 4 Plus NY optional benefit riders;
•
Annual Credit percentage and Annual Credit duration for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource
4 Plus NY optional benefit riders;
•
Base Doubler
age used to determine Base Doubler Date for the SecureSource Core Plus NY optional
benefit rider;
•
Issue Ages for the SecureSource Core NY, SecureSource Core Plus NY, SecureSource 4 NY, and SecureSource 4 Plus NY optional benefit riders.
The rider fees, percentages, age
bands, credit period and terms listed below apply to applications signed on or after MARCH 30, 2020.
In order to get these terms, your application must be signed and in good order while this Rate Sheet Prospectus Supplement is in effect. Because we reserve the right to change these terms upon notice as provided below, if your application is not signed and in good order while this Rate Sheet Prospectus Supplement is in effect then you will receive the terms that are in effect on the date that you have a signed application in good order. The rider fees, percentages, age bands, credit period and terms, listed below will not change after your application is signed, except as provided in the prospectus (See “Charges – Optional Living Benefit Charges”; “SecureSource Core NY Rider – Lifetime Payment
Percentage/Annual Credits; “SecureSource Core Plus NY Rider – Lifetime Payment Percentage/ Annual Credits/Base Doubler”;
“SecureSource 4 NY Rider – Lifetime Payment
Percentage /Annual Credits”; “SecureSource
4 Plus NY Rider – Lifetime Payment Percentage/Annual Credits/Base Doubler”).
The rider fees, percentages, age bands, credit period and terms listed in this Rate Sheet Prospectus Supplement are subject to change and can be superseded upon 14 days prior notice as provided below. We may periodically issue a new Rate Sheet Prospectus Supplement that may reflect different values than the previous Rate Sheet Prospectus Supplement. Please note that any superseding terms do not apply to applications that are already signed and received by us in good order. Changes to the rider fees, percentages, age bands, credit period or terms listed in this Rate Sheet Prospectus Supplement will be disclosed at least 14 days in advance in a new Rate Sheet Prospectus Supplement filed on Edgar at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract applications signed on or after April 29, 2019)).
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 163
RIDER
FEES
| |
|
|
| |
|
|
SecureSource Core Plus NYSM |
|
|
| |
|
|
| |
|
|
(Charged annually on the contract anniversary as a percentage of contract value or the
Benefit Base, whichever is greater.)
LIFETIME PAYMENT PERCENTAGE
The Lifetime Payment Percentage is used to calculate the Current Annual Payment.
SecureSource Core NY
Rider
| |
Lifetime Payment
Percentage – Single Life |
Lifetime Payment
Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
SecureSource Core Plus NY
Rider
| |
Lifetime Payment
Percentage – Single Life |
Lifetime Payment
Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
Minimum Lifetime Payment
Percentage – Single Life |
Minimum Lifetime Payment
Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
SecureSource 4 Plus NY Rider
| |
Minimum Lifetime Payment
Percentage – Single Life |
Minimum Lifetime Payment
Percentage – Joint Life* |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
* For Joint Life, the Age Band is 56-58.
164 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
ANNUAL CREDIT PERCENTAGE AND CrEDIT PERIOD:
| |
|
|
| |
|
|
SecureSource Core Plus NYSM |
|
|
| |
|
|
| |
|
|
base doubler age – for SecureSource Core plus NY riders
| |
|
|
| |
|
|
SecureSource Core Plus NYSM |
|
|
| |
|
|
| |
|
|
*Issue ages from 81 through 85 require prior approval.
THIS SUPPLEMENT SHOULD BE READ AND RETAINED
FOR FUTURE REFERENCE.
Rate Sheet Prospectus Supplement Dated May 1, 2021 to
the Prospectus Dated May 1, 2021 |
| |
|
RiverSource RAVA 5 Advantage® Variable Annuity (Offered for contract
applications signed on or after April 29, 2019)
|
|
Rate Sheet Prospectus Supplement
This Rate Sheet Prospectus Supplement (this
“Supplement”) should be read and retained with your prospectus. This Supplement must be used in conjunction with the effective RiverSource RAVA 5 Advantage Variable
Annuity (Offered for contract applications signed or after April 29, 2019) prospectus. If you need another copy of the prospectus, please call us at 1-800-862-7919. Historical rate sheet supplements are reflected in Appendix G to this prospectus. For additional information, you may consult your financial advisor or call us at
1-800-862-7919.
The Rate Sheet Prospectus Supplement has been filed with the Securities and Exchange Commission (the “SEC”) and is also available on the Edgar system at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract applications signed on or after April 29, 2019)).
We are issuing this Supplement to provide the:
•
Current rider fees for the SecureSource Tempo NY, SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5
Plus NY optional benefit riders;
•
Lifetime
Payment Percentages and Age Bands for the SecureSource Tempo NY, SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit riders;
•
Income Bonus Percentage for the SecureSource Tempo NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit riders;
•
Annual Credit
percentage and Credit Period for the SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit riders;
•
Credit Multiplier, Maximum Credit percentage, Maximum Credit Carryover percentage for the SecureSource
Tempo optional benefit riders.
•
Issue Ages for the SecureSource Tempo NY, SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5
Plus NY optional benefit riders.
The rider fees, percentages, age bands, credit period and terms listed below apply to applications signed on or after May 3, 2021.
In order to get these terms, your application must be signed and in good order while this Rate Sheet Prospectus Supplement is in effect. Because we reserve the right to change these terms upon notice as provided below, if your application is not signed and in good order while this Rate Sheet Prospectus Supplement is in effect then you will
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 165
receive
the terms that are in effect on the date that you have a signed application in good order. The rider fees, percentages, age bands, credit period and terms,
listed below will not change after your application is signed, except as provided in the prospectus (See “Charges – Optional Living Benefit
Charges”; “SecureSource Tempo NY Rider
– Lifetime Payment Percentage/Returns-linked Credit”; “SecureSource Core 2 NY Rider – Lifetime Payment Percentage/Annual Credits; “SecureSource 5 NY Rider – Lifetime Payment Percentage /Annual
Credits”; “SecureSource 5 Plus NY Rider – Lifetime Payment Percentage/Annual Credits”;
SecureSource Core 2 NY Rider – Lifetime Payment Percentage/Annual Credits).
The rider fees, percentages, age bands, credit period and terms
listed in this Rate Sheet Supplement are subject to change and can be superseded upon 7 calendar days prior notice as provided below. Please note that any
superseding terms do not apply to applications that are already signed and received by us in good order. Changes to the rider fees, percentages, age bands, credit period or terms listed in this Rate Sheet Prospectus Supplement will be disclosed at least 7 calendar days in advance in a new Rate Sheet Prospectus Supplement filed on Edgar at www.sec.gov (File No. 333-230375 for the RiverSource RAVA 5
Advantage Variable Annuity (Offered for contract applications signed on
or after April 29, 2019)).
(Charged annually on the contract anniversary as a percentage of contract value or the
Benefit Base, whichever is greater.)
LIFETIME PAYMENT PERCENTAGE and income bonus percentage
The Lifetime Payment Percentage is used to calculate the Current Annual Payment.
SecureSource Tempo NY
Rider
| |
Minimum Lifetime Payment Percentage – Single Life |
Minimum Lifetime Payment Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
Minimum Lifetime Payment Percentage – Single Life |
Minimum Lifetime Payment Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
SecureSource 5 Plus NY Rider
| |
Minimum Lifetime Payment Percentage – Single Life |
Minimum Lifetime Payment Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
166 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
SecureSource Core 2 NY Rider
| |
Lifetime Payment Percentage – Single Life |
Lifetime Payment Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
ANNUAL CREDIT PERCENTAGE AND CrEDIT PERIOD:
*Issue ages from 81 through 85 require prior approval.
credit
multiplier, MAXIMUM CREDIT PERCENTAGE AND MAXIMUM CARRYOVER PERCENTAGE for the SecureSource
tempo NY rider:
Credit Multiplier is 200%, Maximum Credit Percentage is 10% and Maximum Carryover Percentage is
10%.
THIS SUPPLEMENT SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE.
Rate Sheet Prospectus Supplement dated April 29, 2022, to
the Prospectus Dated April 29, 2022 |
| |
|
RiverSource RAVA 5 Advantage® Variable Annuity (Offered for contract applications
signed on or after April 29, 2019) |
|
Rate Sheet Prospectus Supplement
This Rate Sheet Prospectus Supplement (this
“Supplement”) should be read and retained with your prospectus. This Supplement must be used in conjunction with the effective RiverSource RAVA 5 Advantage Variable
Annuity (Offered for contract applications signed or after April 29, 2019) prospectus. If you need another
copy of the prospectus, please call us at 1-800-862-7919. Historical rate sheet supplements are reflected in Appendix G to this prospectus. For additional information,
you may consult your financial advisor or call us at 1-800-862-7919.
The Rate Sheet Prospectus Supplement has been filed with the Securities and Exchange
Commission (the “SEC”) and is also available on the Edgar system at www.sec.gov (File No. 333 - 230375 for the RiverSource RAVA 5 Advantage Variable Annuity (Offered for contract
applications signed on or after April 29, 2019)).
We are issuing this Supplement to provide the:
•
Current rider fees for the SecureSource Tempo NY, SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5 Plus NY optional
benefit
riders;
•
Lifetime
Payment Percentages and Age Bands for the SecureSource Tempo NY, SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit riders;
•
Income Bonus
Percentage for the SecureSource Tempo NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit riders;
RiverSource RAVA 5 Advantage Variable Annuity NY —
Prospectus 167
•
Annual Credit
percentage and Credit Period for the SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit
riders;
•
Credit
Multiplier, Maximum Credit percentage, Maximum Credit Carryover percentage for the SecureSource Tempo optional benefit riders.
•
Issue Ages for the SecureSource Tempo NY, SecureSource Core 2 NY, SecureSource 5 NY and SecureSource 5 Plus NY optional benefit
riders.
The rider fees, percentages, age bands, credit period and terms listed below apply to applications signed on or after april 29, 2022.
please note that as of jan.1, 2022, only SecureSource Tempo NY Rider is available.
In order to get these terms, your application must be signed and in good order while this Rate Sheet Prospectus Supplement is in effect. Because we reserve the right to change these terms upon notice as provided below, if your application is not signed and in good order while this Rate Sheet Prospectus Supplement is in effect then you will receive the terms that are in effect on the date that you have a signed application in good order. The rider fees, percentages, age bands, credit period and terms, listed below will not change after your application is signed, except as provided in the prospectus (See “Charges – Optional Living Benefit Charges”; “SecureSource Tempo NY Rider– Lifetime Payment Percentage/Returns-linked Credit”.
The rider fees, percentages, age bands, credit period and terms listed in this Rate Sheet
Supplement are subject to change and can be superseded upon 7 calendar days prior notice as provided below. Please note that any superseding terms do not apply to applications that are already signed and received by us in good order. Changes to the rider fees, percentages, age bands, credit period or terms listed in this Rate Sheet Prospectus Supplement will be disclosed at least 7 calendar days in advance in a new Rate Sheet Prospectus Supplement filed on Edgar at www.sec.gov (File No. 333-230375 for the RiverSource RAVA 5
Advantage Variable Annuity (Offered for contract applications signed on or after April 29, 2019)).
(Charged annually on the contract anniversary as a percentage of contract
value or the Benefit Base, whichever is greater.)
LIFETIME PAYMENT
PERCENTAGE and income bonus percentage
The Lifetime Payment Percentage is used to calculate the Current Annual Payment.
SecureSource Tempo NY Rider
| |
Minimum Lifetime Payment Percentage – Single Life |
Minimum Lifetime Payment Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
Minimum Lifetime Payment Percentage – Single Life |
Minimum Lifetime Payment Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
168 RiverSource RAVA 5 Advantage Variable Annuity
NY — Prospectus
SecureSource 5 Plus NY Rider
| |
Minimum Lifetime Payment Percentage – Single Life |
Minimum Lifetime Payment Percentage – Joint Life |
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
SecureSource Core 2 NY Rider
| |
Lifetime Payment Percentage – Single Life |
Lifetime Payment Percentage – Joint Life |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
ANNUAL CREDIT PERCENTAGE AND CrEDIT PERIOD:
*Issue ages from 81 through 85 require prior approval.
credit multiplier, MAXIMUM CREDIT PERCENTAGE AND MAXIMUM CARRYOVER PERCENTAGE for the SecureSource tempo NY rider:
Credit Multiplier is 200%, Maximum Credit Percentage is 10% and Maximum Carryover Percentage is
10%.
THIS SUPPLEMENT SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE.
RiverSource RAVA 5 Advantage Variable Annuity NY — Prospectus 169
This page left blank intentionally
This page left blank intentionally
This page left blank intentionally
The Statement of Additional Information (SAI)
includes additional information about the Contract. The SAI, dated the same date as this prospectus, is incorporated by reference into this prospectus. The SAI is available,
without charge, upon request. For a free copy of the SAI, or for more information about the Contract, call us at 1-800-862-7919, visit our website at riversource.com/annuities or write to us at: 70100 Ameriprise Financial Center Minneapolis, MN 55474.
RiverSource Life Insurance Co. of New York
20 Madison Avenue Extension
Albany, NY 12203
1-800-541-2251
Reports and other information about RiverSource Life of New York Variable Annuity Account are available on the
SEC’s website at http://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following
email address: publicinfo@sec.gov.
EDGAR Contract Identifier: C000212359
©
2008-2025 RiverSource Life Insurance Company. All rights reserved.
STATEMENT OF ADDITIONAL INFORMATION FOR
RIVERSOURCE® RETIREMENT ADVISOR ADVANTAGE PLUS
VARIABLE ANNUITY
RIVERSOURCE® RETIREMENT ADVISOR SELECT PLUS VARIABLE ANNUITY
RIVERSOURCE® RETIREMENT ADVISOR 4 ADVANTAGE® VARIABLE ANNUITY
RIVERSOURCE®
RETIREMENT ADVISOR 4 SELECT® VARIABLE ANNUITY
RIVERSOURCE® RETIREMENT ADVISOR 4 ACCESS® VARIABLE ANNUITY
RIVERSOURCE® RAVA 5 ADVANTAGE® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 30, 2012
but prior to April 29, 2013)
RIVERSOURCE® RAVA 5 SELECT® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 30, 2012
but prior to April 29, 2013)
RIVERSOURCE® RAVA 5 ACCESS® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 30, 2012
but prior to April 29, 2013)
RIVERSOURCE® RAVA 5
ADVANTAGE® VARIABLE ANNUITY
(Offered for contract applications signed prior
to April 30, 2012)
RIVERSOURCE® RAVA 5 SELECT® VARIABLE ANNUITY
(Offered for contract applications signed prior to April 30, 2012)
RIVERSOURCE® RAVA 5 ACCESS® VARIABLE ANNUITY
(Offered for contract applications signed prior to April 30, 2012)
RIVERSOURCE® RAVA 5 ADVANTAGE® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 29, 2013)
RIVERSOURCE® RAVA 5 SELECT® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 29, 2013)
RIVERSOURCE® RAVA 5 ACCESS® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 29, 2013)
RIVERSOURCE® RAVA 5 ADVANTAGE® VARIABLE ANNUITY
(Offered for contract applications signed on or after April 29, 2019)
RIVERSOURCE® RAVA 5 CHOICESM VARIABLE ANNUITY
RIVERSOURCE®
RAVA 5 ACCESS® VARIABLE ANNUITY
(Offered for contract applications
signed on or after June 22, 2020)
RIVERSOURCE® RAVA Apex NY VARIABLE
ANNUITY
RIVERSOURCE® RAVA Vista NY VARIABLE ANNUITY
RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT
May 1, 2025
RiverSource of
New York Variable Annuity Account is a separate account of RiverSource Life Insurance Co. of New York (RiverSource Life of NY).
This Statement of
Additional Information (SAI) is not a prospectus. It should be read together with the prospectus dated the same date as this SAI, which may be obtained from your sales representative, or by writing or calling us at the address and telephone number
below. This SAI contains financial information for all the subaccounts of the RiverSource of New York Variable Annuity Account. Not all subaccounts shown will apply to your specific contract.
RiverSource Life Insurance Co. of New York
20 Madison Avenue
Extension
Albany, NY 12203
1-800-541-2251
SAI9025_12_D01_(05/25)
Table of Contents
|
|
|
|
|
| 2 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Company
We are RiverSource Life Insurance Co. of New York (the “Company”, “we”, “our” and “us”). We are a stock life insurance
company organized in 1972 under the laws of the state of New York and are located at 20 Madison Avenue Extension, Albany, New York 12203. We are a wholly-owned subsidiary of Ameriprise Financial, Inc.
We conduct a conventional life insurance business. Our primary products currently include fixed and variable annuity contracts and life insurance policies.
Non-Principal Risks of Investing in the Contracts
Fund of Funds Risk. Funds that are “funds of funds” (or “feeder funds”) invest substantially all of their assets in other funds and
will therefore bear a pro-rata share of fees and expenses incurred by both funds. This will reduce your investment return.
Money Market Fund
Sub-Account Delay of Payment Risk. If, pursuant to SEC rules, a Fund that is a money market fund suspends payment of redemption proceeds in connection with a liquidation of such Fund, we will delay payment of any transfer, partial withdrawal,
full surrender, or death benefit from the corresponding Subaccount until the Fund is liquidated.
Mixed and Shared Funding Risk. Fund shares may be
sold to our insurance company affiliates or other unaffiliated insurance companies to serve as an underlying investment for variable annuity contracts and variable life insurance policies, pursuant to a practice known as mixed and shared funding. As
a result, there is a possibility that a material conflict may arise between the interests of Owners, and other Owners investing in these Funds. If a material conflict arises, we will consider what action may be appropriate, including removing the
Fund from the Variable Account or replacing the Fund with another underlying Fund.
BUSINESS CONTINUITY/DISASTER RECOVERY
Disruptive events, including natural or man-made disasters and public health crises may adversely affect our ability to conduct business, including
if our employees, the employees of intermediaries or service providers are unable to perform their responsibilities as a result of any such event. Such disruptions to our business operations could interfere with processing
of transactions (including the issuance of contracts). Also, disruptions may interfere with our ability to receive, pick up and process mail and messages, impact our ability to calculate values, or cause other operational or
system issues. Furthermore, these disruptions may persist even if our employees, the employees of intermediaries or service providers are able to work remotely. These events may also impact the issuers of securities in which the
Funds invest, which may cause the Funds to lose value. There can be no assurance that RiverSource Life of NY, the Funds, or our service providers will avoid losses affecting your policy due to a disaster or other catastrophe.
Services
Our Service Center performs
certain administrative services on the contracts and policies we issue. The address and telephone number of our Service Center are listed on the first page of the prospectus.
We also have entered into agreements with the following affiliated entities to provide the identified services in connection with the contracts and policies we
issue. The entities engaged by RiverSource Life of NY may change over time. We may modify, terminate, or enter into new arrangements with service providers at any time.
Affiliated entities that provide a significant amount of services to RiverSource Life of NY are listed in the table below, along with a description of the
services provided and the basis for compensation paid.
|
|
|
|
|
|
|
| Name of Service Provider |
|
Services Provided |
|
Principal Business Address |
|
Basis for Compensation Paid |
| Ameriprise Financial, Inc. (“AFI”) |
|
Business affairs management and
administrative support related to new
business and servicing of existing
contracts and policies |
|
901 Third Avenue South,
Minneapolis, MN 55402
USA |
|
Expense allocation based primarily
on policies in force, secondarily on
policies issued or cash sales (for
acquisition expenses) |
|
|
|
|
|
|
|
| RiverSource Life Insurance Company |
|
Business affairs management and
administrative support related to new
business and servicing of existing
contracts and policies |
|
707 Second Avenue South
Minneapolis, MN 55474
USA |
|
Expense allocation based primarily
on policies in force, secondarily on
policies issued or cash sales (for
acquisition expenses) |
The aggregate dollar amount paid to AFI by RiverSource Life of NY for the services provided in 2024 was $846,488, in 2023 was
$924,559, and in 2022 was $945,315.
The aggregate dollar amount paid to RiverSource Life Insurance Company by RiverSource Life of NY for the
services provided in 2024 was $7,503,799, in 2023 was $8,187,310, and in 2022 was $6,710,395.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
3 |
|
Calculating Annuity Payouts
THE VARIABLE ACCOUNT
We do the following calculations separately
for each of the subaccounts of the variable account. The separate monthly payouts, added together, make up your total variable annuity payout.
Initial
Payout: To compute your first monthly payout, we:
| • |
|
determine the dollar value of your contract on the valuation date; then |
| • |
|
apply the result to the annuity table contained in the contract or another table at least as favorable.
|
The annuity table shows the amount of the first monthly payout for each $1,000 of value which depends on factors built into the table,
as described below.
Annuity Units: We then convert the value of your subaccount to annuity units. To compute the number of units credited to you,
we divide the first monthly payout by the annuity unit value (see below) on the valuation date. The underlying number of units in your subaccount is fixed. The value of units fluctuates with the performance of the underlying fund.
Subsequent Payouts: To compute later payouts, we multiply:
| • |
|
the annuity unit value on the valuation date; by |
| • |
|
the fixed number of annuity units credited to you. |
Annuity Unit Values: We originally set this value at $1 for each subaccount. To calculate later values we multiply the last annuity value by the product
of:
| • |
|
the net investment factor; and |
| • |
|
the neutralizing factor. |
The purpose of the neutralizing factor is to offset the effect of the assumed rate built into the annuity table. With an assumed investment rate of 5%, the
neutralizing factor is 0.999866 for a one day valuation period.
Net Investment Factor: We determine the net investment factor by:
| • |
|
adding the fund’s current net asset value per share plus the per share amount of any accrued income or
capital gain dividends to obtain a current adjusted net asset value per share; then |
| • |
|
dividing that sum by the previous adjusted net asset value per share; and |
| • |
|
subtracting the percentage factor representing the mortality and expense risk fee from the result.
|
Because the net asset value of the fund may fluctuate, the net investment factor may be greater or less than one, and the annuity unit
value may increase or decrease. You bear this investment risk in a subaccount.
THE FIXED ACCOUNT
We guarantee your fixed annuity payout amounts. Once calculated, your payout will remain the same and never change. To calculate your annuity payouts we:
| • |
|
take the value of your fixed account at the retirement/settlement date or the date you selected to begin
receiving your annuity payouts; then |
| • |
|
using an annuity table, we apply the value according to the annuity payout plan you select.
|
The annuity payout table we use will be the one in effect at the time you choose to begin your annuity payouts. The values in the table
will be equal to or greater than the table in your contract.
RATING AGENCIES
Generally, RiverSource Life of NY does not receive individual ratings from rating agencies but receives the same ratings as its parent, RiverSource Life
Insurance Company. Rating agencies evaluate the creditworthiness and claims-paying ability of insurance companies based on a number of different factors. The ratings reflect each agency’s estimation of our ability to meet our contractual
obligations such as making annuity payouts and paying death benefits and other distributions. As such, the ratings relate to our fixed account and not to the subaccounts. This information generally does not relate to the management or performance of
the subaccounts.
|
|
|
|
|
| 4 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
For detailed information on the agency ratings given to RiverSource Life of NY, see “Investor Relations
— Financial Information — Credit Ratings” on our website at ameriprise.com or contact your sales representative. You also may view our current ratings by visiting the agency websites directly at:
|
|
|
|
|
| A.M. Best |
|
|
www.ambest.com |
|
|
|
|
|
|
| Moody’s |
|
|
www.moodys.com |
|
|
|
|
|
|
| Standard & Poor’s |
|
|
www.standardandpoors.com |
|
A.M. Best — Rates insurance companies for their financial strength.
Moody’s — Rates insurance companies for their financial strength.
Standard & Poor’s — Rates insurance companies for their financial strength.
Principal Underwriter
RiverSource
Distributors, Inc. (RiverSource Distributors) serves as principal underwriter for the contracts, which are offered on a continuous basis. Its offices are located at 70100 Ameriprise Financial Center, Minneapolis, MN 55474. RiverSource Distributors
is registered with the Securities and Exchange Commission under the Securities Act of 1934 as a broker dealer and is a member of the Financial Industry Regulatory Authority (FINRA). The contracts are offered to the public through certain securities
broker-dealers that have entered into sales agreements with RiverSource Life of NY and RiverSource Distributors and whose personnel are legally authorized to sell annuity and life insurance products. RiverSource Distributors is a wholly-owned
subsidiary of Ameriprise Financial, Inc.
The aggregate dollar amount of underwriting commissions paid to RiverSource Distributors by RiverSource Life of
NY for the variable accounts in 2024 was $20,338,738, in 2023 was $18,456,768, and in 2022 was $20,929,617. RiverSource Distributors retained no underwriting commissions from the sale of the contracts.
Independent Registered Public Accounting Firm
The financial statements of RiverSource Life Insurance Co. of New York as of December 31, 2024 and December 31, 2023 and for each of the three years in the
period ended December 31, 2024 and the financial statements of each of the divisions of RiverSource of New York Variable Annuity Account as of December 31, 2024 and for the period then ended and the statement of changes in net assets for each of the
two years in the period ended December 31, 2024 included in this Statement of Additional Information have been so included in reliance on the reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the
authority of said firm as experts in auditing and accounting.
Custodian
RiverSource Life of NY is the custodian of the assets of RiverSource of New York Variable Annuity Account. RiverSource Life of NY holds these assets for
safekeeping, maintains records and accounts relating to the variable account including purchase and redemption transactions, and is responsible for administration of the contracts. RiverSource Life of NY’s principal offices are located at 20
Madison Avenue Extension, Albany, NY 12203.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
5 |
|
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
TO THE BOARD OF DIRECTORS OF RIVERSOURCE LIFE INSURANCE CO. OF NEW YORK AND
THE CONTRACT OWNERS OF RIVERSOURCE OF NEW YORK VARIABLE ANNUITY ACCOUNT
Opinions on the Financial Statements
We have
audited the accompanying statements of assets and liabilities of each of the divisions of RiverSource of New York Variable Annuity Account, as indicated in Note 1, as of December 31, 2024, and the related statements of operations and of changes in
net assets for each of the periods indicated in Note 1, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial
position of each of the divisions of RiverSource of New York Variable Annuity Account as of December 31, 2024, and the results of each of their operations and the changes in each of their net assets for each of the periods indicated in Note 1 in
conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the RiverSource Life Insurance Co. of New York management. Our responsibility is to express an opinion on
the financial statements of each of the divisions of the RiverSource of New York Variable Annuity Account 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 each of the divisions of the RiverSource of New York Variable Annuity 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 of these financial statements in accordance with the standards of the PCAOB. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
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 investments owned as of December 31, 2024, by correspondence with the transfer agents
of the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Minneapolis, Minnesota
April 24, 2025
We have served as the auditor of one or more of the divisions of RiverSource of New York Variable Annuity Account since 2010.
|
|
|
|
|
| 6 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 |
|
AB VPS Dyn
Asset Alloc,
Cl B |
|
|
AB VPS
Intl Val,
Cl B |
|
|
AB VPS
Lg Cap Gro,
Cl B |
|
|
AB VPS
Relative Val,
Cl B |
|
|
AB VPS Sus
Gbl Thematic,
Cl B |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
692,829 |
|
|
$ |
3,387,718 |
|
|
$ |
12,949,109 |
|
|
$ |
4,514,703 |
|
|
$ |
568,671 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
1,700 |
|
|
|
— |
|
|
|
474 |
|
|
|
17 |
|
| Receivable for share redemptions |
|
|
700 |
|
|
|
2,566 |
|
|
|
32,147 |
|
|
|
3,527 |
|
|
|
480 |
|
| Total assets |
|
|
693,529 |
|
|
|
3,391,984 |
|
|
|
12,981,256 |
|
|
|
4,518,704 |
|
|
|
569,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
700 |
|
|
|
2,566 |
|
|
|
12,346 |
|
|
|
3,527 |
|
|
|
480 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
19,801 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
1,700 |
|
|
|
— |
|
|
|
474 |
|
|
|
17 |
|
| Total liabilities |
|
|
700 |
|
|
|
4,266 |
|
|
|
32,147 |
|
|
|
4,001 |
|
|
|
497 |
|
| Net assets applicable to contracts in accumulation period |
|
|
691,184 |
|
|
|
3,382,150 |
|
|
|
12,930,530 |
|
|
|
4,512,733 |
|
|
|
567,113 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
5,568 |
|
|
|
12,827 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,645 |
|
|
|
— |
|
|
|
5,752 |
|
|
|
1,970 |
|
|
|
1,558 |
|
| Total net assets |
|
$ |
692,829 |
|
|
$ |
3,387,718 |
|
|
$ |
12,949,109 |
|
|
$ |
4,514,703 |
|
|
$ |
568,671 |
|
| (1) Investment shares |
|
|
71,279 |
|
|
|
224,948 |
|
|
|
162,432 |
|
|
|
146,249 |
|
|
|
17,338 |
|
|
(2) Investments, at cost |
|
$ |
744,235 |
|
|
$ |
3,314,969 |
|
|
$ |
10,680,427 |
|
|
$ |
3,866,337 |
|
|
$ |
501,708 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Allspg VT
Index
Asset Alloc,
Cl 2 |
|
|
Allspg VT
Opp,
Cl 2 |
|
|
Allspg VT
Sm Cap Gro,
Cl 2 |
|
|
ALPS Alerian
Engy Infr,
Class III |
|
|
BlackRock
Adv
SMID Cap VI,
Cl III |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
2,270,553 |
|
|
$ |
2,963,010 |
|
|
$ |
4,482,663 |
|
|
$ |
2,245,702 |
|
|
$ |
363,761 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
124 |
|
|
|
12 |
|
|
|
— |
|
|
|
— |
|
|
|
14,548 |
|
| Receivable for share redemptions |
|
|
1,653 |
|
|
|
2,429 |
|
|
|
3,940 |
|
|
|
2,039 |
|
|
|
306 |
|
| Total assets |
|
|
2,272,330 |
|
|
|
2,965,451 |
|
|
|
4,486,603 |
|
|
|
2,247,741 |
|
|
|
378,615 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,653 |
|
|
|
2,429 |
|
|
|
3,812 |
|
|
|
2,039 |
|
|
|
306 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
128 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
124 |
|
|
|
12 |
|
|
|
— |
|
|
|
— |
|
|
|
14,548 |
|
| Total liabilities |
|
|
1,777 |
|
|
|
2,441 |
|
|
|
3,940 |
|
|
|
2,039 |
|
|
|
14,854 |
|
| Net assets applicable to contracts in accumulation period |
|
|
2,270,553 |
|
|
|
2,874,598 |
|
|
|
4,480,949 |
|
|
|
2,242,472 |
|
|
|
362,869 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
85,432 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
2,980 |
|
|
|
1,714 |
|
|
|
3,230 |
|
|
|
892 |
|
| Total net assets |
|
$ |
2,270,553 |
|
|
$ |
2,963,010 |
|
|
$ |
4,482,663 |
|
|
$ |
2,245,702 |
|
|
$ |
363,761 |
|
| (1) Investment shares |
|
|
114,328 |
|
|
|
110,313 |
|
|
|
480,457 |
|
|
|
157,262 |
|
|
|
33,342 |
|
|
(2) Investments, at cost |
|
$ |
1,978,796 |
|
|
$ |
2,627,069 |
|
|
$ |
4,765,459 |
|
|
$ |
1,521,057 |
|
|
$ |
302,329 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
7 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
BlackRock
Global Alloc,
Cl III |
|
|
BNY Mellon
Sus US Eq,
Serv |
|
|
Calvert VP
SRI Bal,
Cl F |
|
|
Calvert VP
SRI Bal,
Cl I |
|
|
CB Var
Sm Cap Gro,
Cl I |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
6,782,585 |
|
|
$ |
82,137 |
|
|
$ |
468,704 |
|
|
$ |
2,300,177 |
|
|
$ |
455,233 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
28 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
6,014 |
|
|
|
76 |
|
|
|
400 |
|
|
|
1,624 |
|
|
|
355 |
|
| Total assets |
|
|
6,788,627 |
|
|
|
82,213 |
|
|
|
469,104 |
|
|
|
2,301,801 |
|
|
|
455,588 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
6,014 |
|
|
|
76 |
|
|
|
400 |
|
|
|
1,624 |
|
|
|
355 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
28 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
6,042 |
|
|
|
76 |
|
|
|
400 |
|
|
|
1,624 |
|
|
|
355 |
|
| Net assets applicable to contracts in accumulation period |
|
|
6,708,016 |
|
|
|
78,872 |
|
|
|
467,575 |
|
|
|
2,300,015 |
|
|
|
454,836 |
|
| Net assets applicable to contracts in payment period |
|
|
73,487 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,082 |
|
|
|
3,265 |
|
|
|
1,129 |
|
|
|
162 |
|
|
|
397 |
|
| Total net assets |
|
$ |
6,782,585 |
|
|
$ |
82,137 |
|
|
$ |
468,704 |
|
|
$ |
2,300,177 |
|
|
$ |
455,233 |
|
| (1) Investment shares |
|
|
526,190 |
|
|
|
1,512 |
|
|
|
173,594 |
|
|
|
839,481 |
|
|
|
16,440 |
|
|
(2) Investments, at cost |
|
$ |
7,642,919 |
|
|
$ |
63,134 |
|
|
$ |
399,291 |
|
|
$ |
1,808,937 |
|
|
$ |
429,212 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Bal,
Cl 2 |
|
|
Col VP
Bal,
Cl 3 |
|
|
Col VP
Commodity
Strategy,
Cl 2 |
|
|
Col VP
Contrarian
Core,
Cl 2 |
|
|
Col VP
Disciplined
Core,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
18,491,211 |
|
|
$ |
52,593,417 |
|
|
$ |
622,621 |
|
|
$ |
7,115,055 |
|
|
$ |
3,704,821 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
138,441 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
17,196 |
|
|
|
52,379 |
|
|
|
582 |
|
|
|
18,572 |
|
|
|
3,540 |
|
| Total assets |
|
|
18,508,407 |
|
|
|
52,784,237 |
|
|
|
623,203 |
|
|
|
7,133,627 |
|
|
|
3,708,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
17,196 |
|
|
|
49,302 |
|
|
|
582 |
|
|
|
6,676 |
|
|
|
3,540 |
|
| Contract terminations |
|
|
— |
|
|
|
3,077 |
|
|
|
— |
|
|
|
11,896 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
138,441 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
17,196 |
|
|
|
190,820 |
|
|
|
582 |
|
|
|
18,572 |
|
|
|
3,540 |
|
| Net assets applicable to contracts in accumulation period |
|
|
18,491,032 |
|
|
|
52,457,486 |
|
|
|
620,452 |
|
|
|
7,114,477 |
|
|
|
3,703,617 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
135,522 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
179 |
|
|
|
409 |
|
|
|
2,169 |
|
|
|
578 |
|
|
|
1,204 |
|
| Total net assets |
|
$ |
18,491,211 |
|
|
$ |
52,593,417 |
|
|
$ |
622,621 |
|
|
$ |
7,115,055 |
|
|
$ |
3,704,821 |
|
| (1) Investment shares |
|
|
388,226 |
|
|
|
1,089,116 |
|
|
|
164,280 |
|
|
|
135,939 |
|
|
|
34,017 |
|
|
(2) Investments, at cost |
|
$ |
15,584,315 |
|
|
$ |
32,677,250 |
|
|
$ |
755,351 |
|
|
$ |
3,944,391 |
|
|
$ |
2,453,493 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 8 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Disciplined
Core,
Cl 3 |
|
|
Col VP
Divd Opp,
Cl 2 |
|
|
Col VP
Divd Opp,
Cl 3 |
|
|
Col VP
Emerg
Mkts Bond,
Cl 2 |
|
|
Col VP
Emer Mkts,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
20,584,975 |
|
|
$ |
6,944,660 |
|
|
$ |
21,176,168 |
|
|
$ |
1,007,119 |
|
|
$ |
2,571,888 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
33,091 |
|
|
|
675 |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
20,239 |
|
|
|
6,595 |
|
|
|
25,947 |
|
|
|
890 |
|
|
|
2,334 |
|
| Total assets |
|
|
20,605,214 |
|
|
|
6,984,346 |
|
|
|
21,202,790 |
|
|
|
1,008,009 |
|
|
|
2,574,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
19,666 |
|
|
|
6,595 |
|
|
|
18,272 |
|
|
|
890 |
|
|
|
2,334 |
|
| Contract terminations |
|
|
573 |
|
|
|
— |
|
|
|
7,675 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
33,091 |
|
|
|
675 |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
20,239 |
|
|
|
39,686 |
|
|
|
26,622 |
|
|
|
890 |
|
|
|
2,334 |
|
| Net assets applicable to contracts in accumulation period |
|
|
20,501,937 |
|
|
|
6,944,149 |
|
|
|
20,966,166 |
|
|
|
1,005,982 |
|
|
|
2,570,664 |
|
| Net assets applicable to contracts in payment period |
|
|
82,605 |
|
|
|
— |
|
|
|
210,002 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
433 |
|
|
|
511 |
|
|
|
— |
|
|
|
1,137 |
|
|
|
1,224 |
|
| Total net assets |
|
$ |
20,584,975 |
|
|
$ |
6,944,660 |
|
|
$ |
21,176,168 |
|
|
$ |
1,007,119 |
|
|
$ |
2,571,888 |
|
| (1) Investment shares |
|
|
185,718 |
|
|
|
159,172 |
|
|
|
476,404 |
|
|
|
127,001 |
|
|
|
256,164 |
|
|
(2) Investments, at cost |
|
$ |
5,059,822 |
|
|
$ |
5,213,428 |
|
|
$ |
7,393,670 |
|
|
$ |
1,160,023 |
|
|
$ |
3,578,364 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Emer Mkts,
Cl 3 |
|
|
Col VP Global
Strategic Inc,
Cl 2 |
|
|
Col VP Global
Strategic Inc,
Cl 3 |
|
|
Col VP Govt
Money Mkt,
Cl 2 |
|
|
Col VP Govt
Money Mkt,
Cl 3 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
3,690,116 |
|
|
$ |
1,217,367 |
|
|
$ |
2,403,222 |
|
|
$ |
14,323,410 |
|
|
$ |
8,629,687 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,552 |
|
|
|
968 |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
162 |
|
|
|
— |
|
|
|
249 |
|
|
|
48,416 |
|
|
|
72 |
|
| Receivable for share redemptions |
|
|
4,150 |
|
|
|
1,220 |
|
|
|
1,997 |
|
|
|
13,496 |
|
|
|
7,311 |
|
| Total assets |
|
|
3,694,428 |
|
|
|
1,218,587 |
|
|
|
2,405,468 |
|
|
|
14,386,874 |
|
|
|
8,638,038 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
3,277 |
|
|
|
1,220 |
|
|
|
1,994 |
|
|
|
13,411 |
|
|
|
7,241 |
|
| Contract terminations |
|
|
873 |
|
|
|
— |
|
|
|
3 |
|
|
|
85 |
|
|
|
70 |
|
| Payable for investments purchased |
|
|
162 |
|
|
|
— |
|
|
|
249 |
|
|
|
48,416 |
|
|
|
72 |
|
| Total liabilities |
|
|
4,312 |
|
|
|
1,220 |
|
|
|
2,246 |
|
|
|
61,912 |
|
|
|
7,383 |
|
| Net assets applicable to contracts in accumulation period |
|
|
3,647,280 |
|
|
|
1,216,311 |
|
|
|
2,395,348 |
|
|
|
14,299,693 |
|
|
|
8,602,023 |
|
| Net assets applicable to contracts in payment period |
|
|
42,836 |
|
|
|
— |
|
|
|
7,777 |
|
|
|
— |
|
|
|
28,632 |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
1,056 |
|
|
|
97 |
|
|
|
25,269 |
|
|
|
— |
|
| Total net assets |
|
$ |
3,690,116 |
|
|
$ |
1,217,367 |
|
|
$ |
2,403,222 |
|
|
$ |
14,324,962 |
|
|
$ |
8,630,655 |
|
| (1) Investment shares |
|
|
362,843 |
|
|
|
159,133 |
|
|
|
310,896 |
|
|
|
14,323,410 |
|
|
|
8,629,687 |
|
|
(2) Investments, at cost |
|
$ |
4,631,852 |
|
|
$ |
1,305,092 |
|
|
$ |
2,969,940 |
|
|
$ |
14,323,409 |
|
|
$ |
8,629,635 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
9 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Hi Yield
Bond,
Cl 2 |
|
|
Col VP
Hi Yield
Bond,
Cl 3 |
|
|
Col VP
Inc Opp,
Cl 2 |
|
|
Col VP
Inc Opp,
Cl 3 |
|
|
Col VP
Inter Bond,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
5,574,171 |
|
|
$ |
5,067,987 |
|
|
$ |
3,911,511 |
|
|
$ |
4,228,024 |
|
|
$ |
6,819,240 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
40 |
|
|
|
— |
|
|
|
— |
|
|
|
173 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
5,124 |
|
|
|
4,610 |
|
|
|
3,542 |
|
|
|
3,555 |
|
|
|
6,294 |
|
| Total assets |
|
|
5,579,335 |
|
|
|
5,072,597 |
|
|
|
3,915,053 |
|
|
|
4,231,752 |
|
|
|
6,825,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
5,124 |
|
|
|
4,447 |
|
|
|
3,475 |
|
|
|
3,517 |
|
|
|
6,294 |
|
| Contract terminations |
|
|
— |
|
|
|
163 |
|
|
|
67 |
|
|
|
38 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
40 |
|
|
|
— |
|
|
|
— |
|
|
|
173 |
|
|
|
— |
|
| Total liabilities |
|
|
5,164 |
|
|
|
4,610 |
|
|
|
3,542 |
|
|
|
3,728 |
|
|
|
6,294 |
|
| Net assets applicable to contracts in accumulation period |
|
|
5,573,132 |
|
|
|
5,035,282 |
|
|
|
3,910,083 |
|
|
|
4,213,761 |
|
|
|
6,818,399 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
32,703 |
|
|
|
— |
|
|
|
14,263 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,039 |
|
|
|
2 |
|
|
|
1,428 |
|
|
|
— |
|
|
|
841 |
|
| Total net assets |
|
$ |
5,574,171 |
|
|
$ |
5,067,987 |
|
|
$ |
3,911,511 |
|
|
$ |
4,228,024 |
|
|
$ |
6,819,240 |
|
| (1) Investment shares |
|
|
916,804 |
|
|
|
825,405 |
|
|
|
620,875 |
|
|
|
659,598 |
|
|
|
821,595 |
|
|
(2) Investments, at cost |
|
$ |
5,727,371 |
|
|
$ |
5,380,598 |
|
|
$ |
4,280,074 |
|
|
$ |
5,010,926 |
|
|
$ |
7,780,348 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Inter Bond,
Cl 3 |
|
|
Col VP
Lg Cap Gro,
Cl 2 |
|
|
Col VP
Lg Cap Gro,
Cl 3 |
|
|
Col VP
Lg Cap
Index,
Cl 2 |
|
|
Col VP
Lg Cap
Index,
Cl 3 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
10,453,055 |
|
|
$ |
10,066,129 |
|
|
$ |
4,966,353 |
|
|
$ |
41,716,941 |
|
|
$ |
85,255,042 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
2,276 |
|
|
|
— |
|
|
|
— |
|
|
|
61,893 |
|
|
|
11,024 |
|
| Receivable for share redemptions |
|
|
8,961 |
|
|
|
9,425 |
|
|
|
3,747 |
|
|
|
112,819 |
|
|
|
75,488 |
|
| Total assets |
|
|
10,464,292 |
|
|
|
10,075,554 |
|
|
|
4,970,100 |
|
|
|
41,891,653 |
|
|
|
85,341,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
8,956 |
|
|
|
9,425 |
|
|
|
3,747 |
|
|
|
38,237 |
|
|
|
75,488 |
|
| Contract terminations |
|
|
5 |
|
|
|
— |
|
|
|
— |
|
|
|
74,582 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
2,276 |
|
|
|
— |
|
|
|
— |
|
|
|
61,893 |
|
|
|
11,024 |
|
| Total liabilities |
|
|
11,237 |
|
|
|
9,425 |
|
|
|
3,747 |
|
|
|
174,712 |
|
|
|
86,512 |
|
| Net assets applicable to contracts in accumulation period |
|
|
10,413,597 |
|
|
|
10,065,433 |
|
|
|
4,965,918 |
|
|
|
41,716,806 |
|
|
|
85,254,572 |
|
| Net assets applicable to contracts in payment period |
|
|
39,457 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1 |
|
|
|
696 |
|
|
|
435 |
|
|
|
135 |
|
|
|
470 |
|
| Total net assets |
|
$ |
10,453,055 |
|
|
$ |
10,066,129 |
|
|
$ |
4,966,353 |
|
|
$ |
41,716,941 |
|
|
$ |
85,255,042 |
|
| (1) Investment shares |
|
|
1,251,863 |
|
|
|
213,311 |
|
|
|
103,208 |
|
|
|
856,787 |
|
|
|
1,721,281 |
|
|
(2) Investments, at cost |
|
$ |
12,695,902 |
|
|
$ |
6,066,770 |
|
|
$ |
1,408,591 |
|
|
$ |
33,525,118 |
|
|
$ |
44,028,350 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 10 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Limited
Duration Cr,
Cl 2 |
|
|
Col VP
Long Govt/
Cr Bond,
Cl 2 |
|
|
Col VP
Overseas
Core,
Cl 2 |
|
|
Col VP
Overseas
Core,
Cl 3 |
|
|
Col VP
Select
Lg Cap Eq,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
3,819,168 |
|
|
$ |
1,180,241 |
|
|
$ |
1,759,011 |
|
|
$ |
2,728,903 |
|
|
$ |
787,103 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
784 |
|
|
|
1,587 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
3,369 |
|
|
|
1,031 |
|
|
|
1,742 |
|
|
|
2,615 |
|
|
|
810 |
|
| Total assets |
|
|
3,822,537 |
|
|
|
1,181,272 |
|
|
|
1,761,537 |
|
|
|
2,733,105 |
|
|
|
787,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
3,369 |
|
|
|
1,031 |
|
|
|
1,742 |
|
|
|
2,598 |
|
|
|
810 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
17 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
784 |
|
|
|
1,587 |
|
|
|
— |
|
| Total liabilities |
|
|
3,369 |
|
|
|
1,031 |
|
|
|
2,526 |
|
|
|
4,202 |
|
|
|
810 |
|
| Net assets applicable to contracts in accumulation period |
|
|
3,818,340 |
|
|
|
1,179,328 |
|
|
|
1,757,463 |
|
|
|
2,709,500 |
|
|
|
786,662 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
19,403 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
828 |
|
|
|
913 |
|
|
|
1,548 |
|
|
|
— |
|
|
|
441 |
|
| Total net assets |
|
$ |
3,819,168 |
|
|
$ |
1,180,241 |
|
|
$ |
1,759,011 |
|
|
$ |
2,728,903 |
|
|
$ |
787,103 |
|
| (1) Investment shares |
|
|
401,595 |
|
|
|
162,568 |
|
|
|
134,481 |
|
|
|
207,363 |
|
|
|
34,030 |
|
|
(2) Investments, at cost |
|
$ |
3,838,867 |
|
|
$ |
1,455,386 |
|
|
$ |
1,792,705 |
|
|
$ |
2,590,339 |
|
|
$ |
679,932 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Select
Lg Cap Val,
Cl 2 |
|
|
Col VP
Select
Lg Cap Val,
Cl 3 |
|
|
Col VP
Select
Mid Cap Gro,
Cl 2 |
|
|
Col VP
Select
Mid Cap Gro,
Cl 3 |
|
|
Col VP
Select
Mid Cap Val,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
4,757,847 |
|
|
$ |
863,281 |
|
|
$ |
3,065,516 |
|
|
$ |
4,160,984 |
|
|
$ |
3,086,970 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
54 |
|
|
|
— |
|
|
|
42 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
4,449 |
|
|
|
735 |
|
|
|
2,963 |
|
|
|
4,757 |
|
|
|
2,852 |
|
| Total assets |
|
|
4,762,296 |
|
|
|
864,070 |
|
|
|
3,068,479 |
|
|
|
4,165,783 |
|
|
|
3,089,822 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
4,449 |
|
|
|
735 |
|
|
|
2,963 |
|
|
|
4,025 |
|
|
|
2,852 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
732 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
54 |
|
|
|
— |
|
|
|
42 |
|
|
|
— |
|
| Total liabilities |
|
|
4,449 |
|
|
|
789 |
|
|
|
2,963 |
|
|
|
4,799 |
|
|
|
2,852 |
|
| Net assets applicable to contracts in accumulation period |
|
|
4,757,331 |
|
|
|
862,768 |
|
|
|
3,064,899 |
|
|
|
4,125,220 |
|
|
|
3,086,137 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
35,171 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
516 |
|
|
|
513 |
|
|
|
617 |
|
|
|
593 |
|
|
|
833 |
|
| Total net assets |
|
$ |
4,757,847 |
|
|
$ |
863,281 |
|
|
$ |
3,065,516 |
|
|
$ |
4,160,984 |
|
|
$ |
3,086,970 |
|
| (1) Investment shares |
|
|
112,879 |
|
|
|
20,132 |
|
|
|
56,591 |
|
|
|
75,476 |
|
|
|
77,020 |
|
|
(2) Investments, at cost |
|
$ |
3,745,600 |
|
|
$ |
536,733 |
|
|
$ |
2,181,575 |
|
|
$ |
1,566,368 |
|
|
$ |
2,320,865 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
11 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Select
Mid Cap Val,
Cl 3 |
|
|
Col VP
Select
Sm Cap Val,
Cl 2 |
|
|
Col VP
Select
Sm Cap Val,
Cl 3 |
|
|
Col VP Sel
Gbl Tech,
Cl 2 |
|
|
Col VP
Sm Cap Val,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,500,845 |
|
|
$ |
1,506,937 |
|
|
$ |
1,458,976 |
|
|
$ |
1,283,531 |
|
|
$ |
191,241 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
41 |
|
|
|
— |
|
|
|
84 |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,258 |
|
|
|
1,437 |
|
|
|
1,273 |
|
|
|
1,101 |
|
|
|
167 |
|
| Total assets |
|
|
1,502,144 |
|
|
|
1,508,374 |
|
|
|
1,460,333 |
|
|
|
1,284,632 |
|
|
|
191,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,258 |
|
|
|
1,437 |
|
|
|
1,091 |
|
|
|
1,101 |
|
|
|
167 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
182 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
41 |
|
|
|
— |
|
|
|
84 |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
1,299 |
|
|
|
1,437 |
|
|
|
1,357 |
|
|
|
1,101 |
|
|
|
167 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,500,773 |
|
|
|
1,506,331 |
|
|
|
1,457,297 |
|
|
|
1,281,551 |
|
|
|
190,058 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
1,450 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
72 |
|
|
|
606 |
|
|
|
229 |
|
|
|
1,980 |
|
|
|
1,183 |
|
| Total net assets |
|
$ |
1,500,845 |
|
|
$ |
1,506,937 |
|
|
$ |
1,458,976 |
|
|
$ |
1,283,531 |
|
|
$ |
191,241 |
|
| (1) Investment shares |
|
|
36,822 |
|
|
|
39,719 |
|
|
|
37,748 |
|
|
|
45,419 |
|
|
|
14,433 |
|
|
(2) Investments, at cost |
|
$ |
566,628 |
|
|
$ |
1,124,211 |
|
|
$ |
699,431 |
|
|
$ |
1,053,351 |
|
|
$ |
185,609 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Col VP
Strategic Inc,
Cl 2 |
|
|
Col VP
US Govt
Mtge,
Cl 2 |
|
|
Col VP
US Govt
Mtge,
Cl 3 |
|
|
CS
Commodity
Return,
Cl 1 |
|
|
CTIVP
AC Div Bond,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
5,404,473 |
|
|
$ |
2,742,476 |
|
|
$ |
1,824,264 |
|
|
$ |
406,598 |
|
|
$ |
1,653,896 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
1,350 |
|
|
|
21 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
5,321 |
|
|
|
2,573 |
|
|
|
1,407 |
|
|
|
373 |
|
|
|
1,600 |
|
| Total assets |
|
|
5,409,794 |
|
|
|
2,745,049 |
|
|
|
1,827,021 |
|
|
|
406,992 |
|
|
|
1,655,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
5,321 |
|
|
|
2,573 |
|
|
|
1,407 |
|
|
|
318 |
|
|
|
1,600 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
55 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
1,350 |
|
|
|
21 |
|
|
|
— |
|
| Total liabilities |
|
|
5,321 |
|
|
|
2,573 |
|
|
|
2,757 |
|
|
|
394 |
|
|
|
1,600 |
|
| Net assets applicable to contracts in accumulation period |
|
|
5,403,392 |
|
|
|
2,741,172 |
|
|
|
1,824,191 |
|
|
|
406,598 |
|
|
|
1,652,658 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,081 |
|
|
|
1,304 |
|
|
|
73 |
|
|
|
— |
|
|
|
1,238 |
|
| Total net assets |
|
$ |
5,404,473 |
|
|
$ |
2,742,476 |
|
|
$ |
1,824,264 |
|
|
$ |
406,598 |
|
|
$ |
1,653,896 |
|
| (1) Investment shares |
|
|
1,480,678 |
|
|
|
313,426 |
|
|
|
208,012 |
|
|
|
22,614 |
|
|
|
185,622 |
|
|
(2) Investments, at cost |
|
$ |
5,738,434 |
|
|
$ |
2,793,144 |
|
|
$ |
2,129,389 |
|
|
$ |
623,673 |
|
|
$ |
1,905,162 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 12 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
CTIVP
BR Gl Infl
Prot Sec,
Cl 2 |
|
|
CTIVP
BR Gl Infl
Prot Sec,
Cl 3 |
|
|
CTIVP
CenterSquare
Real Est,
Cl 2 |
|
|
CTIVP
MFS Val,
Cl 2 |
|
|
CTIVP
Prin Blue
Chip Gro,
Cl 1 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,259,245 |
|
|
$ |
2,259,521 |
|
|
$ |
1,133,143 |
|
|
$ |
6,622,181 |
|
|
$ |
5,411,626 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
397 |
|
|
|
12,379 |
|
|
|
554 |
|
|
|
37 |
|
| Receivable for share redemptions |
|
|
1,174 |
|
|
|
1,828 |
|
|
|
1,005 |
|
|
|
6,206 |
|
|
|
4,752 |
|
| Total assets |
|
|
1,260,419 |
|
|
|
2,261,746 |
|
|
|
1,146,527 |
|
|
|
6,628,941 |
|
|
|
5,416,415 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,174 |
|
|
|
1,828 |
|
|
|
1,005 |
|
|
|
6,206 |
|
|
|
4,464 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
288 |
|
| Payable for investments purchased |
|
|
— |
|
|
|
397 |
|
|
|
12,379 |
|
|
|
554 |
|
|
|
37 |
|
| Total liabilities |
|
|
1,174 |
|
|
|
2,225 |
|
|
|
13,384 |
|
|
|
6,760 |
|
|
|
4,789 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,258,231 |
|
|
|
2,259,387 |
|
|
|
1,131,502 |
|
|
|
6,621,538 |
|
|
|
5,411,592 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,014 |
|
|
|
134 |
|
|
|
1,641 |
|
|
|
643 |
|
|
|
34 |
|
| Total net assets |
|
$ |
1,259,245 |
|
|
$ |
2,259,521 |
|
|
$ |
1,133,143 |
|
|
$ |
6,622,181 |
|
|
$ |
5,411,626 |
|
| (1) Investment shares |
|
|
296,293 |
|
|
|
520,627 |
|
|
|
168,122 |
|
|
|
159,917 |
|
|
|
75,529 |
|
|
(2) Investments, at cost |
|
$ |
1,597,968 |
|
|
$ |
3,161,152 |
|
|
$ |
1,315,645 |
|
|
$ |
5,075,813 |
|
|
$ |
1,828,288 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
CTIVP
Prin Blue
Chip Gro,
Cl 2 |
|
|
CTIVP
T Rowe Price
LgCap Val,
Cl 2 |
|
|
CTIVP
TCW Core
Plus Bond,
Cl 2 |
|
|
CTIVP
Vty Sycamore
Estb Val,
Cl 2 |
|
|
CTIVP
Vty Sycamore
Estb Val,
Cl 3 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
3,256,562 |
|
|
$ |
4,230,225 |
|
|
$ |
1,954,267 |
|
|
$ |
6,451,624 |
|
|
$ |
973,167 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
52 |
|
|
|
125 |
|
| Receivable for share redemptions |
|
|
15,165 |
|
|
|
3,939 |
|
|
|
1,732 |
|
|
|
5,892 |
|
|
|
826 |
|
| Total assets |
|
|
3,271,727 |
|
|
|
4,234,164 |
|
|
|
1,955,999 |
|
|
|
6,457,568 |
|
|
|
974,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
3,158 |
|
|
|
3,939 |
|
|
|
1,732 |
|
|
|
5,892 |
|
|
|
826 |
|
| Contract terminations |
|
|
12,007 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
52 |
|
|
|
125 |
|
| Total liabilities |
|
|
15,165 |
|
|
|
3,939 |
|
|
|
1,732 |
|
|
|
5,944 |
|
|
|
951 |
|
| Net assets applicable to contracts in accumulation period |
|
|
3,254,693 |
|
|
|
4,229,720 |
|
|
|
1,953,238 |
|
|
|
6,451,026 |
|
|
|
972,564 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,869 |
|
|
|
505 |
|
|
|
1,029 |
|
|
|
598 |
|
|
|
603 |
|
| Total net assets |
|
$ |
3,256,562 |
|
|
$ |
4,230,225 |
|
|
$ |
1,954,267 |
|
|
$ |
6,451,624 |
|
|
$ |
973,167 |
|
| (1) Investment shares |
|
|
47,121 |
|
|
|
111,704 |
|
|
|
215,941 |
|
|
|
131,746 |
|
|
|
19,506 |
|
|
(2) Investments, at cost |
|
$ |
2,069,860 |
|
|
$ |
3,092,741 |
|
|
$ |
2,136,532 |
|
|
$ |
4,411,993 |
|
|
$ |
533,263 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
13 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
CTIVP
Westfield
Mid Cap Gro,
Cl 2 |
|
|
CTIVP
Westfield
Sel Lg Cp Gr,
Cl 2 |
|
|
CVT EAFE
Intl Index,
Cl F |
|
|
CVT Nasdaq
100 Index,
Cl F |
|
|
CVT
Russ 2000
Sm Cap Ind,
Cl F |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,361,473 |
|
|
$ |
1,361,339 |
|
|
$ |
601,807 |
|
|
$ |
6,617,479 |
|
|
$ |
861,594 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
14,548 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,254 |
|
|
|
1,257 |
|
|
|
563 |
|
|
|
6,189 |
|
|
|
798 |
|
| Total assets |
|
|
1,362,727 |
|
|
|
1,362,596 |
|
|
|
602,370 |
|
|
|
6,638,216 |
|
|
|
862,392 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,254 |
|
|
|
1,257 |
|
|
|
563 |
|
|
|
6,189 |
|
|
|
798 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
14,548 |
|
|
|
— |
|
| Total liabilities |
|
|
1,254 |
|
|
|
1,257 |
|
|
|
563 |
|
|
|
20,737 |
|
|
|
798 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,360,772 |
|
|
|
1,360,296 |
|
|
|
597,063 |
|
|
|
6,612,046 |
|
|
|
857,603 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
701 |
|
|
|
1,043 |
|
|
|
4,744 |
|
|
|
5,433 |
|
|
|
3,991 |
|
| Total net assets |
|
$ |
1,361,473 |
|
|
$ |
1,361,339 |
|
|
$ |
601,807 |
|
|
$ |
6,617,479 |
|
|
$ |
861,594 |
|
| (1) Investment shares |
|
|
26,917 |
|
|
|
23,925 |
|
|
|
6,345 |
|
|
|
40,720 |
|
|
|
10,170 |
|
|
(2) Investments, at cost |
|
$ |
720,067 |
|
|
$ |
1,038,263 |
|
|
$ |
584,845 |
|
|
$ |
5,778,953 |
|
|
$ |
787,456 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
DWS
Alt Asset
Alloc VIP,
Cl B |
|
|
EV VT
Floating-
Rate Inc,
Init Cl |
|
|
Fid VIP
Contrafund,
Serv Cl 2 |
|
|
Fid VIP
Emer Mkts,
Serv Cl 2 |
|
|
Fid VIP
Energy,
Serv Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,130,886 |
|
|
$ |
5,593,031 |
|
|
$ |
52,055,131 |
|
|
$ |
89,751 |
|
|
$ |
493,649 |
|
| Dividends receivable |
|
|
— |
|
|
|
33,342 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
127 |
|
|
|
186 |
|
|
|
111,134 |
|
|
|
— |
|
|
|
7,274 |
|
| Receivable for share redemptions |
|
|
1,136 |
|
|
|
4,782 |
|
|
|
64,819 |
|
|
|
91 |
|
|
|
392 |
|
| Total assets |
|
|
1,132,149 |
|
|
|
5,631,341 |
|
|
|
52,231,084 |
|
|
|
89,842 |
|
|
|
501,315 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,136 |
|
|
|
4,732 |
|
|
|
46,615 |
|
|
|
91 |
|
|
|
392 |
|
| Contract terminations |
|
|
— |
|
|
|
50 |
|
|
|
18,204 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
127 |
|
|
|
33,528 |
|
|
|
111,134 |
|
|
|
— |
|
|
|
7,274 |
|
| Total liabilities |
|
|
1,263 |
|
|
|
38,310 |
|
|
|
175,953 |
|
|
|
91 |
|
|
|
7,666 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,129,678 |
|
|
|
5,574,149 |
|
|
|
52,052,352 |
|
|
|
88,680 |
|
|
|
492,331 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
4,574 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,208 |
|
|
|
14,308 |
|
|
|
2,779 |
|
|
|
1,071 |
|
|
|
1,318 |
|
| Total net assets |
|
$ |
1,130,886 |
|
|
$ |
5,593,031 |
|
|
$ |
52,055,131 |
|
|
$ |
89,751 |
|
|
$ |
493,649 |
|
| (1) Investment shares |
|
|
87,395 |
|
|
|
649,597 |
|
|
|
937,930 |
|
|
|
7,825 |
|
|
|
19,722 |
|
|
(2) Investments, at cost |
|
$ |
1,146,721 |
|
|
$ |
5,741,876 |
|
|
$ |
39,986,092 |
|
|
$ |
81,939 |
|
|
$ |
508,889 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 14 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Fid VIP
Gro & Inc,
Serv Cl |
|
|
Fid VIP
Gro & Inc,
Serv Cl 2 |
|
|
Fid VIP
Gro Opp,
Serv Cl 2 |
|
|
Fid VIP
Intl Cap Appr,
Serv Cl 2 |
|
|
Fid VIP
Invest Gr,
Serv Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
903,230 |
|
|
$ |
8,737,089 |
|
|
$ |
1,229,460 |
|
|
$ |
342,476 |
|
|
$ |
2,019,146 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
29,096 |
|
|
|
— |
|
|
|
61,893 |
|
| Receivable for share redemptions |
|
|
691 |
|
|
|
7,726 |
|
|
|
1,077 |
|
|
|
304 |
|
|
|
1,754 |
|
| Total assets |
|
|
903,921 |
|
|
|
8,744,815 |
|
|
|
1,259,633 |
|
|
|
342,780 |
|
|
|
2,082,793 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
691 |
|
|
|
7,131 |
|
|
|
1,077 |
|
|
|
304 |
|
|
|
1,754 |
|
| Contract terminations |
|
|
— |
|
|
|
595 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
29,096 |
|
|
|
— |
|
|
|
61,893 |
|
| Total liabilities |
|
|
691 |
|
|
|
7,726 |
|
|
|
30,173 |
|
|
|
304 |
|
|
|
63,647 |
|
| Net assets applicable to contracts in accumulation period |
|
|
903,230 |
|
|
|
8,539,416 |
|
|
|
1,226,946 |
|
|
|
341,374 |
|
|
|
2,018,398 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
195,892 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
1,781 |
|
|
|
2,514 |
|
|
|
1,102 |
|
|
|
748 |
|
| Total net assets |
|
$ |
903,230 |
|
|
$ |
8,737,089 |
|
|
$ |
1,229,460 |
|
|
$ |
342,476 |
|
|
$ |
2,019,146 |
|
| (1) Investment shares |
|
|
29,978 |
|
|
|
296,877 |
|
|
|
15,301 |
|
|
|
15,241 |
|
|
|
190,127 |
|
|
(2) Investments, at cost |
|
$ |
596,820 |
|
|
$ |
6,033,767 |
|
|
$ |
829,170 |
|
|
$ |
307,805 |
|
|
$ |
2,030,697 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Fid VIP
Mid Cap,
Serv Cl |
|
|
Fid VIP
Mid Cap,
Serv Cl 2 |
|
|
Fid VIP
Overseas,
Serv Cl |
|
|
Fid VIP
Overseas,
Serv Cl 2 |
|
|
Fid VIP
Strategic Inc,
Serv Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,783,376 |
|
|
$ |
26,659,738 |
|
|
$ |
208,067 |
|
|
$ |
2,303,593 |
|
|
$ |
10,888,123 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
16,620 |
|
|
|
— |
|
|
|
481 |
|
|
|
55 |
|
| Receivable for share redemptions |
|
|
1,367 |
|
|
|
29,225 |
|
|
|
158 |
|
|
|
3,474 |
|
|
|
9,582 |
|
| Total assets |
|
|
1,784,743 |
|
|
|
26,705,583 |
|
|
|
208,225 |
|
|
|
2,307,548 |
|
|
|
10,897,760 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,368 |
|
|
|
22,873 |
|
|
|
158 |
|
|
|
1,829 |
|
|
|
9,582 |
|
| Contract terminations |
|
|
— |
|
|
|
6,352 |
|
|
|
— |
|
|
|
1,645 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
16,620 |
|
|
|
— |
|
|
|
481 |
|
|
|
55 |
|
| Total liabilities |
|
|
1,368 |
|
|
|
45,845 |
|
|
|
158 |
|
|
|
3,955 |
|
|
|
9,637 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,783,375 |
|
|
|
26,608,372 |
|
|
|
208,067 |
|
|
|
2,302,295 |
|
|
|
10,867,146 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
49,455 |
|
|
|
— |
|
|
|
1,169 |
|
|
|
20,094 |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
1,911 |
|
|
|
— |
|
|
|
129 |
|
|
|
883 |
|
| Total net assets |
|
$ |
1,783,375 |
|
|
$ |
26,659,738 |
|
|
$ |
208,067 |
|
|
$ |
2,303,593 |
|
|
$ |
10,888,123 |
|
| (1) Investment shares |
|
|
48,304 |
|
|
|
751,402 |
|
|
|
8,221 |
|
|
|
91,594 |
|
|
|
1,030,097 |
|
|
(2) Investments, at cost |
|
$ |
1,560,526 |
|
|
$ |
25,503,514 |
|
|
$ |
167,602 |
|
|
$ |
1,940,129 |
|
|
$ |
11,330,604 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
15 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Frank Global
Real Est,
Cl 2 |
|
|
Frank
Inc,
Cl 2 |
|
|
Frank
Inc,
Cl 4 |
|
|
Frank Mutual
Gbl Dis,
Cl 4 |
|
|
Frank Mutual
Shares,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,888,133 |
|
|
$ |
4,337,346 |
|
|
$ |
864,927 |
|
|
$ |
68,792 |
|
|
$ |
7,000,744 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
1,549 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
291 |
|
| Receivable for share redemptions |
|
|
1,441 |
|
|
|
4,166 |
|
|
|
815 |
|
|
|
63 |
|
|
|
6,144 |
|
| Total assets |
|
|
1,891,123 |
|
|
|
4,341,512 |
|
|
|
865,742 |
|
|
|
68,855 |
|
|
|
7,007,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,441 |
|
|
|
4,166 |
|
|
|
815 |
|
|
|
63 |
|
|
|
6,144 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
1,549 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
291 |
|
| Total liabilities |
|
|
2,990 |
|
|
|
4,166 |
|
|
|
815 |
|
|
|
63 |
|
|
|
6,435 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,833,057 |
|
|
|
4,336,189 |
|
|
|
864,194 |
|
|
|
67,381 |
|
|
|
6,999,286 |
|
| Net assets applicable to contracts in payment period |
|
|
55,076 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
1,157 |
|
|
|
733 |
|
|
|
1,411 |
|
|
|
1,458 |
|
| Total net assets |
|
$ |
1,888,133 |
|
|
$ |
4,337,346 |
|
|
$ |
864,927 |
|
|
$ |
68,792 |
|
|
$ |
7,000,744 |
|
| (1) Investment shares |
|
|
153,882 |
|
|
|
302,044 |
|
|
|
58,205 |
|
|
|
3,784 |
|
|
|
427,135 |
|
|
(2) Investments, at cost |
|
$ |
2,354,085 |
|
|
$ |
4,488,904 |
|
|
$ |
870,552 |
|
|
$ |
73,277 |
|
|
$ |
7,205,064 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Frank Sm
Cap Val,
Cl 2 |
|
|
Frank Sm
Cap Val,
Cl 4 |
|
|
GS VIT
Mid Cap Val,
Inst |
|
|
GS VIT
Multi-
Strategy Alt,
Advisor |
|
|
GS VIT
Multi-
Strategy Alt,
Serv |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
7,059,337 |
|
|
$ |
780,264 |
|
|
$ |
6,274,231 |
|
|
$ |
593,927 |
|
|
$ |
131,240 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
69 |
|
|
|
7,274 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
6,261 |
|
|
|
782 |
|
|
|
7,596 |
|
|
|
569 |
|
|
|
120 |
|
| Total assets |
|
|
7,065,667 |
|
|
|
788,320 |
|
|
|
6,281,827 |
|
|
|
594,496 |
|
|
|
131,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
6,124 |
|
|
|
782 |
|
|
|
4,845 |
|
|
|
569 |
|
|
|
120 |
|
| Contract terminations |
|
|
137 |
|
|
|
— |
|
|
|
2,751 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
69 |
|
|
|
7,274 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
6,330 |
|
|
|
8,056 |
|
|
|
7,596 |
|
|
|
569 |
|
|
|
120 |
|
| Net assets applicable to contracts in accumulation period |
|
|
7,048,399 |
|
|
|
779,126 |
|
|
|
6,205,932 |
|
|
|
592,816 |
|
|
|
130,226 |
|
| Net assets applicable to contracts in payment period |
|
|
8,911 |
|
|
|
— |
|
|
|
68,299 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
2,027 |
|
|
|
1,138 |
|
|
|
— |
|
|
|
1,111 |
|
|
|
1,014 |
|
| Total net assets |
|
$ |
7,059,337 |
|
|
$ |
780,264 |
|
|
$ |
6,274,231 |
|
|
$ |
593,927 |
|
|
$ |
131,240 |
|
| (1) Investment shares |
|
|
492,970 |
|
|
|
52,018 |
|
|
|
371,916 |
|
|
|
66,884 |
|
|
|
14,697 |
|
|
(2) Investments, at cost |
|
$ |
7,180,466 |
|
|
$ |
705,850 |
|
|
$ |
5,865,037 |
|
|
$ |
618,945 |
|
|
$ |
133,901 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 16 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
GS VIT
Sm Cap
Eq Insights,
Inst |
|
|
GS VIT
Sm Cap
Eq Insights,
Serv |
|
|
GS VIT
U.S. Eq
Insights,
Inst |
|
|
Invesco VI
Am Fran,
Ser I |
|
|
Invesco VI
Am Fran,
Ser II |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
164,407 |
|
|
$ |
163,018 |
|
|
$ |
3,887,458 |
|
|
$ |
274,581 |
|
|
$ |
1,971,091 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
125 |
|
|
|
148 |
|
|
|
4,214 |
|
|
|
202 |
|
|
|
9,142 |
|
| Total assets |
|
|
164,532 |
|
|
|
163,166 |
|
|
|
3,891,672 |
|
|
|
274,783 |
|
|
|
1,980,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
125 |
|
|
|
148 |
|
|
|
2,988 |
|
|
|
202 |
|
|
|
1,596 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
1,226 |
|
|
|
— |
|
|
|
7,546 |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
125 |
|
|
|
148 |
|
|
|
4,214 |
|
|
|
202 |
|
|
|
9,142 |
|
| Net assets applicable to contracts in accumulation period |
|
|
164,407 |
|
|
|
161,893 |
|
|
|
3,865,662 |
|
|
|
274,581 |
|
|
|
1,968,392 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
21,545 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
1,125 |
|
|
|
251 |
|
|
|
— |
|
|
|
2,699 |
|
| Total net assets |
|
$ |
164,407 |
|
|
$ |
163,018 |
|
|
$ |
3,887,458 |
|
|
$ |
274,581 |
|
|
$ |
1,971,091 |
|
| (1) Investment shares |
|
|
12,233 |
|
|
|
12,303 |
|
|
|
179,311 |
|
|
|
3,453 |
|
|
|
27,529 |
|
|
(2) Investments, at cost |
|
$ |
152,836 |
|
|
$ |
141,556 |
|
|
$ |
3,116,732 |
|
|
$ |
181,557 |
|
|
$ |
1,396,336 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Invesco VI
Bal Risk
Alloc, Ser II |
|
|
Invesco VI
Comstock,
Ser II |
|
|
Invesco VI
Core Eq,
Ser I |
|
|
Invesco VI
Core Plus
Bond, Ser II |
|
|
Invesco VI
Dis Mid
Cap Gro,
Ser I |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,381,766 |
|
|
$ |
4,092,252 |
|
|
$ |
6,335,378 |
|
|
$ |
515,254 |
|
|
$ |
791,381 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
3,393 |
|
|
|
33 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,365 |
|
|
|
7,712 |
|
|
|
6,973 |
|
|
|
503 |
|
|
|
1,081 |
|
| Total assets |
|
|
1,386,524 |
|
|
|
4,099,997 |
|
|
|
6,342,351 |
|
|
|
515,757 |
|
|
|
792,462 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,365 |
|
|
|
3,283 |
|
|
|
6,945 |
|
|
|
503 |
|
|
|
564 |
|
| Contract terminations |
|
|
— |
|
|
|
4,429 |
|
|
|
28 |
|
|
|
— |
|
|
|
517 |
|
| Payable for investments purchased |
|
|
3,393 |
|
|
|
33 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
4,758 |
|
|
|
7,745 |
|
|
|
6,973 |
|
|
|
503 |
|
|
|
1,081 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,380,372 |
|
|
|
4,091,143 |
|
|
|
6,311,392 |
|
|
|
514,501 |
|
|
|
791,381 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
23,986 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,394 |
|
|
|
1,109 |
|
|
|
— |
|
|
|
753 |
|
|
|
— |
|
| Total net assets |
|
$ |
1,381,766 |
|
|
$ |
4,092,252 |
|
|
$ |
6,335,378 |
|
|
$ |
515,254 |
|
|
$ |
791,381 |
|
| (1) Investment shares |
|
|
167,082 |
|
|
|
198,557 |
|
|
|
188,441 |
|
|
|
91,682 |
|
|
|
10,142 |
|
|
(2) Investments, at cost |
|
$ |
1,597,162 |
|
|
$ |
3,231,621 |
|
|
$ |
5,318,326 |
|
|
$ |
512,192 |
|
|
$ |
758,329 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
17 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Invesco VI
Dis Mid
Cap Gro, Ser II |
|
|
Invesco VI
Div Divd,
Ser I |
|
|
Invesco VI
Div Divd,
Ser II |
|
|
Invesco VI
EQV Intl Eq,
Ser II |
|
|
Invesco VI
Global,
Ser II |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
353,876 |
|
|
$ |
445,395 |
|
|
$ |
314,144 |
|
|
$ |
1,487,102 |
|
|
$ |
8,239,034 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
9 |
|
|
|
279 |
|
|
|
380 |
|
| Receivable for share redemptions |
|
|
305 |
|
|
|
333 |
|
|
|
262 |
|
|
|
1,191 |
|
|
|
20,012 |
|
| Total assets |
|
|
354,181 |
|
|
|
445,728 |
|
|
|
314,415 |
|
|
|
1,488,572 |
|
|
|
8,259,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
305 |
|
|
|
333 |
|
|
|
262 |
|
|
|
1,191 |
|
|
|
7,337 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
12,675 |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
9 |
|
|
|
279 |
|
|
|
380 |
|
| Total liabilities |
|
|
305 |
|
|
|
333 |
|
|
|
271 |
|
|
|
1,470 |
|
|
|
20,392 |
|
| Net assets applicable to contracts in accumulation period |
|
|
352,969 |
|
|
|
445,395 |
|
|
|
314,144 |
|
|
|
1,481,579 |
|
|
|
8,235,617 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,136 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
907 |
|
|
|
— |
|
|
|
— |
|
|
|
387 |
|
|
|
3,417 |
|
| Total net assets |
|
$ |
353,876 |
|
|
$ |
445,395 |
|
|
$ |
314,144 |
|
|
$ |
1,487,102 |
|
|
$ |
8,239,034 |
|
| (1) Investment shares |
|
|
5,287 |
|
|
|
17,210 |
|
|
|
12,271 |
|
|
|
45,214 |
|
|
|
213,115 |
|
|
(2) Investments, at cost |
|
$ |
355,262 |
|
|
$ |
403,386 |
|
|
$ |
281,310 |
|
|
$ |
1,459,033 |
|
|
$ |
7,913,369 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Invesco VI
Gbl Strat Inc,
Ser II |
|
|
Invesco VI
Hlth,
Ser II |
|
|
Invesco VI
Main St,
Ser II |
|
|
Invesco VI
Mn St Sm Cap,
Ser II |
|
|
Invesco VI
Tech,
Ser I |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
5,937,229 |
|
|
$ |
966,815 |
|
|
$ |
141,976 |
|
|
$ |
6,943,961 |
|
|
$ |
1,256,111 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
272 |
|
|
|
21 |
|
|
|
— |
|
|
|
12,379 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
5,349 |
|
|
|
1,057 |
|
|
|
120 |
|
|
|
7,437 |
|
|
|
1,927 |
|
| Total assets |
|
|
5,942,850 |
|
|
|
967,893 |
|
|
|
142,096 |
|
|
|
6,963,777 |
|
|
|
1,258,038 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
4,916 |
|
|
|
796 |
|
|
|
120 |
|
|
|
6,477 |
|
|
|
906 |
|
| Contract terminations |
|
|
433 |
|
|
|
261 |
|
|
|
— |
|
|
|
960 |
|
|
|
1,021 |
|
| Payable for investments purchased |
|
|
272 |
|
|
|
21 |
|
|
|
— |
|
|
|
12,379 |
|
|
|
— |
|
| Total liabilities |
|
|
5,621 |
|
|
|
1,078 |
|
|
|
120 |
|
|
|
19,816 |
|
|
|
1,927 |
|
| Net assets applicable to contracts in accumulation period |
|
|
5,936,499 |
|
|
|
962,675 |
|
|
|
141,531 |
|
|
|
6,941,442 |
|
|
|
1,256,111 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
4,003 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
730 |
|
|
|
137 |
|
|
|
445 |
|
|
|
2,519 |
|
|
|
— |
|
| Total net assets |
|
$ |
5,937,229 |
|
|
$ |
966,815 |
|
|
$ |
141,976 |
|
|
$ |
6,943,961 |
|
|
$ |
1,256,111 |
|
| (1) Investment shares |
|
|
1,343,264 |
|
|
|
39,142 |
|
|
|
7,167 |
|
|
|
243,733 |
|
|
|
52,778 |
|
|
(2) Investments, at cost |
|
$ |
6,814,873 |
|
|
$ |
1,005,603 |
|
|
$ |
159,984 |
|
|
$ |
5,884,185 |
|
|
$ |
1,020,935 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 18 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Invesco VI
Tech,
Ser II |
|
|
Janus
Henderson
VIT Bal,
Serv |
|
|
Janus
Henderson
VIT Enter,
Serv |
|
|
Janus
Henderson
VIT Flex Bd,
Serv |
|
|
Janus
Henderson
VIT Forty,
Serv |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,167,656 |
|
|
$ |
19,996,465 |
|
|
$ |
527,301 |
|
|
$ |
3,968,118 |
|
|
$ |
2,936,411 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
14,548 |
|
|
|
28 |
|
|
|
— |
|
|
|
1,469 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
926 |
|
|
|
19,959 |
|
|
|
397 |
|
|
|
3,917 |
|
|
|
3,030 |
|
| Total assets |
|
|
1,183,130 |
|
|
|
20,016,452 |
|
|
|
527,698 |
|
|
|
3,973,504 |
|
|
|
2,939,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
926 |
|
|
|
19,959 |
|
|
|
397 |
|
|
|
3,917 |
|
|
|
3,030 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
14,548 |
|
|
|
28 |
|
|
|
— |
|
|
|
1,469 |
|
|
|
— |
|
| Total liabilities |
|
|
15,474 |
|
|
|
19,987 |
|
|
|
397 |
|
|
|
5,386 |
|
|
|
3,030 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,166,095 |
|
|
|
19,994,040 |
|
|
|
527,301 |
|
|
|
3,967,366 |
|
|
|
2,933,858 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,561 |
|
|
|
2,425 |
|
|
|
— |
|
|
|
752 |
|
|
|
2,553 |
|
| Total net assets |
|
$ |
1,167,656 |
|
|
$ |
19,996,465 |
|
|
$ |
527,301 |
|
|
$ |
3,968,118 |
|
|
$ |
2,936,411 |
|
| (1) Investment shares |
|
|
57,833 |
|
|
|
367,650 |
|
|
|
7,057 |
|
|
|
365,052 |
|
|
|
57,509 |
|
|
(2) Investments, at cost |
|
$ |
992,959 |
|
|
$ |
16,421,999 |
|
|
$ |
383,316 |
|
|
$ |
4,240,612 |
|
|
$ |
2,738,115 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Janus
Hend VIT Gbl Tech
Innov,
Srv |
|
|
Janus
Henderson
VIT Overseas,
Serv |
|
|
Janus
Henderson
VIT Res,
Serv |
|
|
Lazard Ret
Emer
Mkts Eq,
Serv |
|
|
Lazard Ret
Global
Dyn MA,
Serv |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,682,552 |
|
|
$ |
1,136,245 |
|
|
$ |
3,266,240 |
|
|
$ |
198,419 |
|
|
$ |
359,869 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
32,647 |
|
|
|
— |
|
|
|
— |
|
|
|
19,653 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,244 |
|
|
|
862 |
|
|
|
3,431 |
|
|
|
146 |
|
|
|
323 |
|
| Total assets |
|
|
1,716,443 |
|
|
|
1,137,107 |
|
|
|
3,269,671 |
|
|
|
218,218 |
|
|
|
360,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,244 |
|
|
|
862 |
|
|
|
2,943 |
|
|
|
146 |
|
|
|
323 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
488 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
32,647 |
|
|
|
— |
|
|
|
— |
|
|
|
19,653 |
|
|
|
— |
|
| Total liabilities |
|
|
33,891 |
|
|
|
862 |
|
|
|
3,431 |
|
|
|
19,799 |
|
|
|
323 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,681,581 |
|
|
|
1,134,575 |
|
|
|
3,261,190 |
|
|
|
196,778 |
|
|
|
358,069 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
971 |
|
|
|
1,670 |
|
|
|
5,050 |
|
|
|
1,641 |
|
|
|
1,800 |
|
| Total net assets |
|
$ |
1,682,552 |
|
|
$ |
1,136,245 |
|
|
$ |
3,266,240 |
|
|
$ |
198,419 |
|
|
$ |
359,869 |
|
| (1) Investment shares |
|
|
79,516 |
|
|
|
27,202 |
|
|
|
57,871 |
|
|
|
9,165 |
|
|
|
27,661 |
|
|
(2) Investments, at cost |
|
$ |
1,000,196 |
|
|
$ |
993,387 |
|
|
$ |
2,008,150 |
|
|
$ |
204,961 |
|
|
$ |
349,045 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
19 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Lord Abt
Bond Debenture,
Cl VC |
|
|
Lord Abt
Short Dur Inc,
Cl VC |
|
|
LVIP AC
Intl,
Serv Cl |
|
|
LVIP AC
Intl,
Std Cl II |
|
|
LVIP AC
Mid Cap Val, Serv Cl |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
909,858 |
|
|
$ |
645,826 |
|
|
$ |
757,097 |
|
|
$ |
156,388 |
|
|
$ |
2,575,372 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
33,010 |
|
|
|
24 |
|
|
|
— |
|
|
|
128 |
|
| Receivable for share redemptions |
|
|
840 |
|
|
|
558 |
|
|
|
583 |
|
|
|
124 |
|
|
|
2,249 |
|
| Total assets |
|
|
910,698 |
|
|
|
679,394 |
|
|
|
757,704 |
|
|
|
156,512 |
|
|
|
2,577,749 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
840 |
|
|
|
558 |
|
|
|
583 |
|
|
|
124 |
|
|
|
2,249 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
33,010 |
|
|
|
24 |
|
|
|
— |
|
|
|
128 |
|
| Total liabilities |
|
|
840 |
|
|
|
33,568 |
|
|
|
607 |
|
|
|
124 |
|
|
|
2,377 |
|
| Net assets applicable to contracts in accumulation period |
|
|
909,066 |
|
|
|
644,876 |
|
|
|
753,098 |
|
|
|
156,388 |
|
|
|
2,574,481 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
2,987 |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
792 |
|
|
|
950 |
|
|
|
1,012 |
|
|
|
— |
|
|
|
891 |
|
| Total net assets |
|
$ |
909,858 |
|
|
$ |
645,826 |
|
|
$ |
757,097 |
|
|
$ |
156,388 |
|
|
$ |
2,575,372 |
|
| (1) Investment shares |
|
|
87,486 |
|
|
|
49,337 |
|
|
|
70,922 |
|
|
|
14,638 |
|
|
|
130,869 |
|
|
(2) Investments, at cost |
|
$ |
926,603 |
|
|
$ |
652,777 |
|
|
$ |
697,309 |
|
|
$ |
135,597 |
|
|
$ |
2,472,228 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
LVIP AC
Ultra,
Serv Cl |
|
|
LVIP AC
Val,
Serv Cl |
|
|
LVIP AC
Val,
Std Cl II |
|
|
LVIP JPM
US Eq,
Serv Cl(1) |
|
|
Mac VIP
Asset Strategy,
Serv Cl |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
3,172,482 |
|
|
$ |
11,474,415 |
|
|
$ |
521,427 |
|
|
$ |
200,662 |
|
|
$ |
613,386 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
13,327 |
|
|
|
642 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
2,644 |
|
|
|
10,379 |
|
|
|
389 |
|
|
|
185 |
|
|
|
543 |
|
| Total assets |
|
|
3,188,453 |
|
|
|
11,485,436 |
|
|
|
521,816 |
|
|
|
200,847 |
|
|
|
613,929 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
2,644 |
|
|
|
10,379 |
|
|
|
389 |
|
|
|
185 |
|
|
|
543 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
13,327 |
|
|
|
642 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
15,971 |
|
|
|
11,021 |
|
|
|
389 |
|
|
|
185 |
|
|
|
543 |
|
| Net assets applicable to contracts in accumulation period |
|
|
3,171,937 |
|
|
|
11,437,993 |
|
|
|
521,427 |
|
|
|
198,652 |
|
|
|
611,821 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
34,881 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
545 |
|
|
|
1,541 |
|
|
|
— |
|
|
|
2,010 |
|
|
|
1,565 |
|
| Total net assets |
|
$ |
3,172,482 |
|
|
$ |
11,474,415 |
|
|
$ |
521,427 |
|
|
$ |
200,662 |
|
|
$ |
613,386 |
|
| (1) Investment shares |
|
|
109,264 |
|
|
|
936,993 |
|
|
|
42,639 |
|
|
|
4,597 |
|
|
|
66,026 |
|
|
(2) Investments, at cost |
|
$ |
2,276,772 |
|
|
$ |
9,816,512 |
|
|
$ |
382,944 |
|
|
$ |
151,844 |
|
|
$ |
627,341 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 20 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Mac VIP
for Inc,
Serv Cl |
|
|
Mac VIP
Intl Core Eq,
Serv Cl |
|
|
MFS
Gbl Real Est,
Serv Cl |
|
|
MFS
Intl Gro,
Serv Cl |
|
|
MFS Mass
Inv Gro Stock,
Serv Cl |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
122,451 |
|
|
$ |
143,758 |
|
|
$ |
130,334 |
|
|
$ |
257,651 |
|
|
$ |
3,447,699 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
213 |
|
| Receivable for share redemptions |
|
|
107 |
|
|
|
121 |
|
|
|
118 |
|
|
|
237 |
|
|
|
2,793 |
|
| Total assets |
|
|
122,558 |
|
|
|
143,879 |
|
|
|
130,452 |
|
|
|
257,888 |
|
|
|
3,450,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
107 |
|
|
|
121 |
|
|
|
118 |
|
|
|
237 |
|
|
|
2,793 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
213 |
|
| Total liabilities |
|
|
107 |
|
|
|
121 |
|
|
|
118 |
|
|
|
237 |
|
|
|
3,006 |
|
| Net assets applicable to contracts in accumulation period |
|
|
121,271 |
|
|
|
142,558 |
|
|
|
129,308 |
|
|
|
256,684 |
|
|
|
3,447,508 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,180 |
|
|
|
1,200 |
|
|
|
1,026 |
|
|
|
967 |
|
|
|
191 |
|
| Total net assets |
|
$ |
122,451 |
|
|
$ |
143,758 |
|
|
$ |
130,334 |
|
|
$ |
257,651 |
|
|
$ |
3,447,699 |
|
| (1) Investment shares |
|
|
22,103 |
|
|
|
8,702 |
|
|
|
8,552 |
|
|
|
16,601 |
|
|
|
147,780 |
|
|
(2) Investments, at cost |
|
$ |
117,784 |
|
|
$ |
146,776 |
|
|
$ |
132,493 |
|
|
$ |
237,315 |
|
|
$ |
2,959,721 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
MFS
New Dis,
Serv Cl |
|
|
MFS
Research Intl,
Serv Cl |
|
|
MFS
Utilities,
Serv Cl |
|
|
MS
VIF Dis,
Cl II |
|
|
NB AMT
Sus Eq,
Cl S |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,358,276 |
|
|
$ |
124,456 |
|
|
$ |
5,792,379 |
|
|
$ |
5,245,554 |
|
|
$ |
1,384,116 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
41,262 |
|
|
|
7,283 |
|
|
|
51 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,063 |
|
|
|
69 |
|
|
|
5,502 |
|
|
|
9,535 |
|
|
|
1,302 |
|
| Total assets |
|
|
1,359,339 |
|
|
|
165,787 |
|
|
|
5,805,164 |
|
|
|
5,255,140 |
|
|
|
1,385,418 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,033 |
|
|
|
69 |
|
|
|
5,215 |
|
|
|
4,894 |
|
|
|
1,302 |
|
| Contract terminations |
|
|
30 |
|
|
|
— |
|
|
|
287 |
|
|
|
4,641 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
41,262 |
|
|
|
7,283 |
|
|
|
51 |
|
|
|
— |
|
| Total liabilities |
|
|
1,063 |
|
|
|
41,331 |
|
|
|
12,785 |
|
|
|
9,586 |
|
|
|
1,302 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,358,200 |
|
|
|
123,246 |
|
|
|
5,790,280 |
|
|
|
5,242,847 |
|
|
|
1,379,958 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
76 |
|
|
|
1,210 |
|
|
|
2,099 |
|
|
|
2,707 |
|
|
|
4,158 |
|
| Total net assets |
|
$ |
1,358,276 |
|
|
$ |
124,456 |
|
|
$ |
5,792,379 |
|
|
$ |
5,245,554 |
|
|
$ |
1,384,116 |
|
| (1) Investment shares |
|
|
126,351 |
|
|
|
7,382 |
|
|
|
173,321 |
|
|
|
913,860 |
|
|
|
34,525 |
|
|
(2) Investments, at cost |
|
$ |
1,740,711 |
|
|
$ |
123,117 |
|
|
$ |
5,583,551 |
|
|
$ |
7,131,301 |
|
|
$ |
976,361 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
21 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
PIMCO VIT
All Asset,
Advisor Cl |
|
|
PIMCO VIT
Glb Man As Alloc,
Adv Cl |
|
|
PIMCO VIT
Tot Return,
Advisor Cl |
|
|
Put VT
Global Hlth Care,
Cl IB |
|
|
Put VT
Intl Eq,
Cl IB |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
2,629,293 |
|
|
$ |
267,426 |
|
|
$ |
8,110,997 |
|
|
$ |
1,300,019 |
|
|
$ |
388,671 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
27,455 |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
168 |
|
|
|
— |
|
|
|
61,910 |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
2,258 |
|
|
|
249 |
|
|
|
7,306 |
|
|
|
1,088 |
|
|
|
339 |
|
| Total assets |
|
|
2,631,719 |
|
|
|
267,675 |
|
|
|
8,207,668 |
|
|
|
1,301,107 |
|
|
|
389,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
2,258 |
|
|
|
249 |
|
|
|
7,306 |
|
|
|
1,088 |
|
|
|
284 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
55 |
|
| Payable for investments purchased |
|
|
168 |
|
|
|
— |
|
|
|
89,365 |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
2,426 |
|
|
|
249 |
|
|
|
96,671 |
|
|
|
1,088 |
|
|
|
339 |
|
| Net assets applicable to contracts in accumulation period |
|
|
2,627,956 |
|
|
|
265,548 |
|
|
|
8,088,900 |
|
|
|
1,299,131 |
|
|
|
385,179 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,185 |
|
| Net assets applicable to seed money |
|
|
1,337 |
|
|
|
1,878 |
|
|
|
22,097 |
|
|
|
888 |
|
|
|
307 |
|
| Total net assets |
|
$ |
2,629,293 |
|
|
$ |
267,426 |
|
|
$ |
8,110,997 |
|
|
$ |
1,300,019 |
|
|
$ |
388,671 |
|
| (1) Investment shares |
|
|
294,104 |
|
|
|
26,583 |
|
|
|
897,234 |
|
|
|
82,909 |
|
|
|
25,255 |
|
|
(2) Investments, at cost |
|
$ |
3,014,419 |
|
|
$ |
295,842 |
|
|
$ |
9,119,091 |
|
|
$ |
1,270,515 |
|
|
$ |
337,184 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Put VT
Intl Val,
Cl IB |
|
|
Put VT
Lg Cap Val,
Cl IB |
|
|
Put VT
Sus Fut,
Cl IB |
|
|
Put VT
Sus Leaders,
Cl IA |
|
|
Put VT
Sus Leaders,
Cl IB |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
136,114 |
|
|
$ |
1,247,964 |
|
|
$ |
23,758 |
|
|
$ |
7,499,054 |
|
|
$ |
743,277 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
179 |
|
| Receivable for share redemptions |
|
|
136 |
|
|
|
1,251 |
|
|
|
20 |
|
|
|
8,317 |
|
|
|
537 |
|
| Total assets |
|
|
136,250 |
|
|
|
1,249,215 |
|
|
|
23,778 |
|
|
|
7,507,371 |
|
|
|
743,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
136 |
|
|
|
1,251 |
|
|
|
20 |
|
|
|
8,253 |
|
|
|
537 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
64 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
179 |
|
| Total liabilities |
|
|
136 |
|
|
|
1,251 |
|
|
|
20 |
|
|
|
8,317 |
|
|
|
716 |
|
| Net assets applicable to contracts in accumulation period |
|
|
134,937 |
|
|
|
1,246,171 |
|
|
|
22,277 |
|
|
|
7,450,845 |
|
|
|
740,360 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
48,209 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,177 |
|
|
|
1,793 |
|
|
|
1,481 |
|
|
|
— |
|
|
|
2,917 |
|
| Total net assets |
|
$ |
136,114 |
|
|
$ |
1,247,964 |
|
|
$ |
23,758 |
|
|
$ |
7,499,054 |
|
|
$ |
743,277 |
|
| (1) Investment shares |
|
|
11,305 |
|
|
|
38,494 |
|
|
|
1,399 |
|
|
|
148,467 |
|
|
|
15,389 |
|
|
(2) Investments, at cost |
|
$ |
133,957 |
|
|
$ |
1,118,508 |
|
|
$ |
21,138 |
|
|
$ |
4,839,757 |
|
|
$ |
501,470 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 22 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
Royce
Micro-Cap,
Invest Cl |
|
|
Temp
Global Bond,
Cl 2 |
|
|
Third Ave
VST Third
Ave Value |
|
|
VanEck VIP
Global Gold,
Cl S |
|
|
VP
Aggr,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
346,120 |
|
|
$ |
1,108,392 |
|
|
$ |
498,993 |
|
|
$ |
1,145,570 |
|
|
$ |
40,689,122 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16,505 |
|
|
|
750 |
|
| Receivable for share redemptions |
|
|
276 |
|
|
|
1,037 |
|
|
|
392 |
|
|
|
1,045 |
|
|
|
36,041 |
|
| Total assets |
|
|
346,396 |
|
|
|
1,109,429 |
|
|
|
499,385 |
|
|
|
1,163,120 |
|
|
|
40,725,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
276 |
|
|
|
1,037 |
|
|
|
392 |
|
|
|
1,045 |
|
|
|
36,041 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16,505 |
|
|
|
750 |
|
| Total liabilities |
|
|
276 |
|
|
|
1,037 |
|
|
|
392 |
|
|
|
17,550 |
|
|
|
36,791 |
|
| Net assets applicable to contracts in accumulation period |
|
|
346,120 |
|
|
|
1,107,587 |
|
|
|
498,993 |
|
|
|
1,143,429 |
|
|
|
40,688,766 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
805 |
|
|
|
— |
|
|
|
2,141 |
|
|
|
356 |
|
| Total net assets |
|
$ |
346,120 |
|
|
$ |
1,108,392 |
|
|
$ |
498,993 |
|
|
$ |
1,145,570 |
|
|
$ |
40,689,122 |
|
| (1) Investment shares |
|
|
35,499 |
|
|
|
97,398 |
|
|
|
24,389 |
|
|
|
122,784 |
|
|
|
1,278,728 |
|
|
(2) Investments, at cost |
|
$ |
333,145 |
|
|
$ |
1,462,929 |
|
|
$ |
434,307 |
|
|
$ |
1,067,576 |
|
|
$ |
26,059,591 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
VP
Aggr,
Cl 4 |
|
|
VP
Conserv,
Cl 2 |
|
|
VP
Conserv,
Cl 4 |
|
|
VP Man
Risk,
Cl 2 |
|
|
VP Man
Risk US,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
36,645,386 |
|
|
$ |
23,058,816 |
|
|
$ |
19,723,575 |
|
|
$ |
9,351,326 |
|
|
$ |
33,561,679 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
597 |
|
|
|
100 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
32,495 |
|
|
|
20,865 |
|
|
|
17,669 |
|
|
|
8,300 |
|
|
|
29,308 |
|
| Total assets |
|
|
36,678,478 |
|
|
|
23,079,781 |
|
|
|
19,741,244 |
|
|
|
9,359,626 |
|
|
|
33,590,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
29,849 |
|
|
|
20,865 |
|
|
|
17,669 |
|
|
|
8,102 |
|
|
|
29,308 |
|
| Contract terminations |
|
|
2,646 |
|
|
|
— |
|
|
|
— |
|
|
|
198 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
597 |
|
|
|
100 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total liabilities |
|
|
33,092 |
|
|
|
20,965 |
|
|
|
17,669 |
|
|
|
8,300 |
|
|
|
29,308 |
|
| Net assets applicable to contracts in accumulation period |
|
|
36,645,364 |
|
|
|
23,058,084 |
|
|
|
19,723,489 |
|
|
|
9,350,855 |
|
|
|
33,561,190 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
22 |
|
|
|
732 |
|
|
|
86 |
|
|
|
471 |
|
|
|
489 |
|
| Total net assets |
|
$ |
36,645,386 |
|
|
$ |
23,058,816 |
|
|
$ |
19,723,575 |
|
|
$ |
9,351,326 |
|
|
$ |
33,561,679 |
|
| (1) Investment shares |
|
|
1,149,840 |
|
|
|
1,435,792 |
|
|
|
1,228,118 |
|
|
|
676,162 |
|
|
|
2,130,900 |
|
|
(2) Investments, at cost |
|
$ |
15,870,866 |
|
|
$ |
20,258,740 |
|
|
$ |
16,236,541 |
|
|
$ |
7,384,316 |
|
|
$ |
26,916,831 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
23 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
VP Man
Vol Conserv,
Cl 2 |
|
|
VP Man
Vol Conserv Gro,
Cl 2 |
|
|
VP Man
Vol Gro,
Cl 2 |
|
|
VP Man
Vol Mod Gro,
Cl 2 |
|
|
VP
Mod,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
31,134,295 |
|
|
$ |
73,922,484 |
|
|
$ |
588,196,978 |
|
|
$ |
798,509,897 |
|
|
$ |
412,750,301 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
66,606 |
|
|
|
— |
|
|
|
285 |
|
|
|
— |
|
|
|
15,352 |
|
| Receivable for share redemptions |
|
|
29,121 |
|
|
|
66,485 |
|
|
|
511,826 |
|
|
|
1,084,628 |
|
|
|
391,600 |
|
| Total assets |
|
|
31,230,022 |
|
|
|
73,988,969 |
|
|
|
588,709,089 |
|
|
|
799,594,525 |
|
|
|
413,157,253 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
28,194 |
|
|
|
66,485 |
|
|
|
511,248 |
|
|
|
714,329 |
|
|
|
368,206 |
|
| Contract terminations |
|
|
927 |
|
|
|
— |
|
|
|
578 |
|
|
|
370,299 |
|
|
|
23,394 |
|
| Payable for investments purchased |
|
|
66,606 |
|
|
|
— |
|
|
|
285 |
|
|
|
— |
|
|
|
15,352 |
|
| Total liabilities |
|
|
95,727 |
|
|
|
66,485 |
|
|
|
512,111 |
|
|
|
1,084,628 |
|
|
|
406,952 |
|
| Net assets applicable to contracts in accumulation period |
|
|
31,134,016 |
|
|
|
73,922,153 |
|
|
|
588,189,701 |
|
|
|
798,504,865 |
|
|
|
412,565,292 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
6,934 |
|
|
|
4,832 |
|
|
|
184,739 |
|
| Net assets applicable to seed money |
|
|
279 |
|
|
|
331 |
|
|
|
343 |
|
|
|
200 |
|
|
|
270 |
|
| Total net assets |
|
$ |
31,134,295 |
|
|
$ |
73,922,484 |
|
|
$ |
588,196,978 |
|
|
$ |
798,509,897 |
|
|
$ |
412,750,301 |
|
| (1) Investment shares |
|
|
2,340,924 |
|
|
|
4,905,274 |
|
|
|
30,539,822 |
|
|
|
42,655,443 |
|
|
|
17,707,006 |
|
|
(2) Investments, at cost |
|
$ |
28,568,466 |
|
|
$ |
61,300,789 |
|
|
$ |
390,545,140 |
|
|
$ |
533,381,349 |
|
|
$ |
265,596,707 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
VP Mod,
Cl 4 |
|
|
VP Mod
Aggr,
Cl 2 |
|
|
VP Mod
Aggr,
Cl 4 |
|
|
VP Mod
Conserv,
Cl 2 |
|
|
VP Mod
Conserv,
Cl 4 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
302,511,080 |
|
|
$ |
153,248,694 |
|
|
$ |
83,664,794 |
|
|
$ |
59,422,056 |
|
|
$ |
47,807,087 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
57 |
|
|
|
354 |
|
|
|
245 |
|
|
|
50 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
264,902 |
|
|
|
152,157 |
|
|
|
83,377 |
|
|
|
54,164 |
|
|
|
42,259 |
|
| Total assets |
|
|
302,776,039 |
|
|
|
153,401,205 |
|
|
|
83,748,416 |
|
|
|
59,476,270 |
|
|
|
47,849,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
253,211 |
|
|
|
135,617 |
|
|
|
69,082 |
|
|
|
54,164 |
|
|
|
40,680 |
|
| Contract terminations |
|
|
11,691 |
|
|
|
16,540 |
|
|
|
14,295 |
|
|
|
— |
|
|
|
1,579 |
|
| Payable for investments purchased |
|
|
57 |
|
|
|
354 |
|
|
|
245 |
|
|
|
50 |
|
|
|
— |
|
| Total liabilities |
|
|
264,959 |
|
|
|
152,511 |
|
|
|
83,622 |
|
|
|
54,214 |
|
|
|
42,259 |
|
| Net assets applicable to contracts in accumulation period |
|
|
302,511,080 |
|
|
|
153,170,490 |
|
|
|
83,664,737 |
|
|
|
59,263,041 |
|
|
|
47,807,060 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
77,927 |
|
|
|
— |
|
|
|
158,384 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
— |
|
|
|
277 |
|
|
|
57 |
|
|
|
631 |
|
|
|
27 |
|
| Total net assets |
|
$ |
302,511,080 |
|
|
$ |
153,248,694 |
|
|
$ |
83,664,794 |
|
|
$ |
59,422,056 |
|
|
$ |
47,807,087 |
|
| (1) Investment shares |
|
|
12,961,057 |
|
|
|
5,623,805 |
|
|
|
3,065,767 |
|
|
|
3,085,257 |
|
|
|
2,478,335 |
|
|
(2) Investments, at cost |
|
$ |
150,699,779 |
|
|
$ |
95,836,020 |
|
|
$ |
38,284,619 |
|
|
$ |
44,217,172 |
|
|
$ |
29,453,103 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 24 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
VP Ptnrs
Core Bond,
Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 3 |
|
|
VP Ptnrs
Intl Core Eq,
Cl 2 |
|
|
VP Ptnrs
Intl Gro,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,535,834 |
|
|
$ |
902,960 |
|
|
$ |
1,240,453 |
|
|
$ |
1,801,737 |
|
|
$ |
2,321,617 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
883 |
|
|
|
938 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,430 |
|
|
|
710 |
|
|
|
1,220 |
|
|
|
1,697 |
|
|
|
2,206 |
|
| Total assets |
|
|
1,537,264 |
|
|
|
903,670 |
|
|
|
1,242,556 |
|
|
|
1,804,372 |
|
|
|
2,323,823 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,430 |
|
|
|
710 |
|
|
|
1,034 |
|
|
|
1,697 |
|
|
|
2,206 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
186 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
883 |
|
|
|
938 |
|
|
|
— |
|
| Total liabilities |
|
|
1,430 |
|
|
|
710 |
|
|
|
2,103 |
|
|
|
2,635 |
|
|
|
2,206 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,534,514 |
|
|
|
902,286 |
|
|
|
1,240,347 |
|
|
|
1,800,237 |
|
|
|
2,320,366 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,320 |
|
|
|
674 |
|
|
|
106 |
|
|
|
1,500 |
|
|
|
1,251 |
|
| Total net assets |
|
$ |
1,535,834 |
|
|
$ |
902,960 |
|
|
$ |
1,240,453 |
|
|
$ |
1,801,737 |
|
|
$ |
2,321,617 |
|
| (1) Investment shares |
|
|
160,989 |
|
|
|
20,342 |
|
|
|
27,474 |
|
|
|
170,781 |
|
|
|
208,404 |
|
|
(2) Investments, at cost |
|
$ |
1,681,397 |
|
|
$ |
620,649 |
|
|
$ |
325,622 |
|
|
$ |
1,813,810 |
|
|
$ |
2,519,634 |
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
VP Ptnrs
Intl Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Gro,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 3 |
|
|
VP US Flex
Conserv Gro,
Cl 2 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
1,432,237 |
|
|
$ |
1,780,526 |
|
|
$ |
896,151 |
|
|
$ |
2,511,119 |
|
|
$ |
25,204,233 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
56 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
1,405 |
|
|
|
1,663 |
|
|
|
824 |
|
|
|
2,851 |
|
|
|
22,917 |
|
| Total assets |
|
|
1,433,642 |
|
|
|
1,782,189 |
|
|
|
896,975 |
|
|
|
2,514,026 |
|
|
|
25,227,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
1,405 |
|
|
|
1,663 |
|
|
|
824 |
|
|
|
1,974 |
|
|
|
22,917 |
|
| Contract terminations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
877 |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
56 |
|
|
|
— |
|
| Total liabilities |
|
|
1,405 |
|
|
|
1,663 |
|
|
|
824 |
|
|
|
2,907 |
|
|
|
22,917 |
|
| Net assets applicable to contracts in accumulation period |
|
|
1,430,875 |
|
|
|
1,779,968 |
|
|
|
895,416 |
|
|
|
2,511,069 |
|
|
|
25,203,860 |
|
| Net assets applicable to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
1,362 |
|
|
|
558 |
|
|
|
735 |
|
|
|
50 |
|
|
|
373 |
|
| Total net assets |
|
$ |
1,432,237 |
|
|
$ |
1,780,526 |
|
|
$ |
896,151 |
|
|
$ |
2,511,119 |
|
|
$ |
25,204,233 |
|
| (1) Investment shares |
|
|
141,107 |
|
|
|
53,437 |
|
|
|
23,651 |
|
|
|
65,106 |
|
|
|
1,734,634 |
|
|
(2) Investments, at cost |
|
$ |
1,352,897 |
|
|
$ |
1,400,899 |
|
|
$ |
719,536 |
|
|
$ |
1,148,155 |
|
|
$ |
21,391,674 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
25 |
|
Statement of Assets and Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2024 (continued) |
|
VP US
Flex Gro,
Cl 2 |
|
|
VP US
Flex
Mod Gro,
Cl 2 |
|
|
Wanger
Acorn |
|
|
Wanger
Intl |
|
|
WA Var
Global
Hi Yd Bond, Cl
II |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments, at fair value(1),(2) |
|
$ |
267,540,025 |
|
|
$ |
141,194,528 |
|
|
$ |
8,151,218 |
|
|
$ |
4,367,396 |
|
|
$ |
531,832 |
|
| Dividends receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Accounts receivable from RiverSource Life of NY for contract purchase payments |
|
|
— |
|
|
|
— |
|
|
|
4,049 |
|
|
|
8,776 |
|
|
|
— |
|
| Receivable for share redemptions |
|
|
365,073 |
|
|
|
248,896 |
|
|
|
6,362 |
|
|
|
3,362 |
|
|
|
502 |
|
| Total assets |
|
|
267,905,098 |
|
|
|
141,443,424 |
|
|
|
8,161,629 |
|
|
|
4,379,534 |
|
|
|
532,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payable to RiverSource Life of NY for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortality and expense risk fee |
|
|
234,582 |
|
|
|
126,680 |
|
|
|
6,301 |
|
|
|
3,362 |
|
|
|
502 |
|
| Contract terminations |
|
|
130,491 |
|
|
|
122,216 |
|
|
|
61 |
|
|
|
— |
|
|
|
— |
|
| Payable for investments purchased |
|
|
— |
|
|
|
— |
|
|
|
4,049 |
|
|
|
8,776 |
|
|
|
— |
|
| Total liabilities |
|
|
365,073 |
|
|
|
248,896 |
|
|
|
10,411 |
|
|
|
12,138 |
|
|
|
502 |
|
| Net assets applicable to contracts in accumulation period |
|
|
267,526,900 |
|
|
|
141,183,633 |
|
|
|
8,124,256 |
|
|
|
4,354,670 |
|
|
|
530,656 |
|
| Net assets applicable to contracts in payment period |
|
|
12,757 |
|
|
|
10,520 |
|
|
|
26,335 |
|
|
|
12,065 |
|
|
|
— |
|
| Net assets applicable to seed money |
|
|
368 |
|
|
|
375 |
|
|
|
627 |
|
|
|
661 |
|
|
|
1,176 |
|
| Total net assets |
|
$ |
267,540,025 |
|
|
$ |
141,194,528 |
|
|
$ |
8,151,218 |
|
|
$ |
4,367,396 |
|
|
$ |
531,832 |
|
| (1) Investment shares |
|
|
14,036,727 |
|
|
|
8,439,601 |
|
|
|
535,560 |
|
|
|
236,844 |
|
|
|
84,552 |
|
|
(2) Investments, at cost |
|
$ |
189,129,612 |
|
|
$ |
107,136,751 |
|
|
$ |
10,624,660 |
|
|
$ |
5,754,467 |
|
|
$ |
603,990 |
|
See accompanying notes to financial
statements.
|
|
|
|
|
| 26 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 |
|
AB VPS Dyn
Asset Alloc,
Cl B |
|
|
AB VPS
Intl Val, Cl B |
|
|
AB VPS
Lg Cap Gro, Cl B |
|
|
AB VPS
Relative Val, Cl B |
|
|
AB VPS Sus
Gbl Thematic,
Cl B |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
7,239 |
|
|
$ |
82,347 |
|
|
$ |
— |
|
|
$ |
60,339 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
8,479 |
|
|
|
31,817 |
|
|
|
130,086 |
|
|
|
43,265 |
|
|
|
4,533 |
|
| Investment income (loss) — net |
|
|
(1,240 |
) |
|
|
50,530 |
|
|
|
(130,086 |
) |
|
|
17,074 |
|
|
|
(4,533 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
116,508 |
|
|
|
590,386 |
|
|
|
2,478,340 |
|
|
|
980,671 |
|
|
|
89,883 |
|
| Cost of investments sold |
|
|
136,651 |
|
|
|
558,281 |
|
|
|
2,051,653 |
|
|
|
830,121 |
|
|
|
77,219 |
|
| Net realized gain (loss) on sales of investments |
|
|
(20,143 |
) |
|
|
32,105 |
|
|
|
426,687 |
|
|
|
150,550 |
|
|
|
12,664 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
536,601 |
|
|
|
169,781 |
|
|
|
1,353 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
82,517 |
|
|
|
68,081 |
|
|
|
1,598,152 |
|
|
|
214,078 |
|
|
|
1,829 |
|
| Net gain (loss) on investments |
|
|
62,374 |
|
|
|
100,186 |
|
|
|
2,561,440 |
|
|
|
534,409 |
|
|
|
15,846 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
61,134 |
|
|
$ |
150,716 |
|
|
$ |
2,431,354 |
|
|
$ |
551,483 |
|
|
$ |
11,313 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Allspg VT
Index
Asset Alloc,
Cl 2 |
|
|
Allspg VT
Opp,
Cl 2 |
|
|
Allspg VT
Sm Cap Gro,
Cl 2 |
|
|
ALPS Alerian
Engy Infr,
Class III |
|
|
BlackRock
Adv
SMID Cap VI,
Cl III |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
31,210 |
|
|
$ |
1,371 |
|
|
$ |
— |
|
|
$ |
79,734 |
|
|
$ |
4,888 |
|
| Variable account expenses |
|
|
20,127 |
|
|
|
26,977 |
|
|
|
44,157 |
|
|
|
24,083 |
|
|
|
3,229 |
|
| Investment income (loss) — net |
|
|
11,083 |
|
|
|
(25,606 |
) |
|
|
(44,157 |
) |
|
|
55,651 |
|
|
|
1,659 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
590,381 |
|
|
|
242,087 |
|
|
|
789,493 |
|
|
|
984,635 |
|
|
|
18,391 |
|
| Cost of investments sold |
|
|
511,610 |
|
|
|
220,282 |
|
|
|
894,141 |
|
|
|
694,254 |
|
|
|
15,944 |
|
| Net realized gain (loss) on sales of investments |
|
|
78,771 |
|
|
|
21,805 |
|
|
|
(104,648 |
) |
|
|
290,381 |
|
|
|
2,447 |
|
| Distributions from capital gains |
|
|
145,276 |
|
|
|
286,964 |
|
|
|
— |
|
|
|
64,109 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
77,427 |
|
|
|
84,922 |
|
|
|
871,841 |
|
|
|
353,918 |
|
|
|
28,418 |
|
| Net gain (loss) on investments |
|
|
301,474 |
|
|
|
393,691 |
|
|
|
767,193 |
|
|
|
708,408 |
|
|
|
30,865 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
312,557 |
|
|
$ |
368,085 |
|
|
$ |
723,036 |
|
|
$ |
764,059 |
|
|
$ |
32,524 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
BlackRock
Global Alloc,
Cl III |
|
|
BNY Mellon
Sus US Eq,
Serv |
|
|
Calvert VP
SRI Bal,
Cl F |
|
|
Calvert VP
SRI Bal,
Cl I |
|
|
CB Var
Sm Cap Gro,
Cl I |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
55,090 |
|
|
$ |
299 |
|
|
$ |
7,762 |
|
|
$ |
37,771 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
68,762 |
|
|
|
826 |
|
|
|
3,875 |
|
|
|
17,779 |
|
|
|
4,101 |
|
| Investment income (loss) — net |
|
|
(13,672 |
) |
|
|
(527 |
) |
|
|
3,887 |
|
|
|
19,992 |
|
|
|
(4,101 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,041,986 |
|
|
|
6,418 |
|
|
|
25,736 |
|
|
|
175,913 |
|
|
|
50,146 |
|
| Cost of investments sold |
|
|
1,104,639 |
|
|
|
5,398 |
|
|
|
22,147 |
|
|
|
140,558 |
|
|
|
49,442 |
|
| Net realized gain (loss) on sales of investments |
|
|
(62,653 |
) |
|
|
1,020 |
|
|
|
3,589 |
|
|
|
35,355 |
|
|
|
704 |
|
| Distributions from capital gains |
|
|
577,014 |
|
|
|
514 |
|
|
|
7,997 |
|
|
|
38,915 |
|
|
|
15,348 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(3,796 |
) |
|
|
14,670 |
|
|
|
46,604 |
|
|
|
277,110 |
|
|
|
2,390 |
|
| Net gain (loss) on investments |
|
|
510,565 |
|
|
|
16,204 |
|
|
|
58,190 |
|
|
|
351,380 |
|
|
|
18,442 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
496,893 |
|
|
$ |
15,677 |
|
|
$ |
62,077 |
|
|
$ |
371,372 |
|
|
$ |
14,341 |
|
See accompanying notes to
financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
27 |
|
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Bal,
Cl 2 |
|
|
Col VP
Bal,
Cl 3 |
|
|
Col VP
Commodity
Strategy,
Cl 2 |
|
|
Col VP
Contrarian
Core,
Cl 2 |
|
|
Col VP
Disciplined
Core, Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
21,000 |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
171,301 |
|
|
|
567,114 |
|
|
|
6,575 |
|
|
|
72,886 |
|
|
|
36,172 |
|
| Investment income (loss) — net |
|
|
(171,301 |
) |
|
|
(567,114 |
) |
|
|
14,425 |
|
|
|
(72,886 |
) |
|
|
(36,172 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,041,350 |
|
|
|
8,715,326 |
|
|
|
156,709 |
|
|
|
1,397,925 |
|
|
|
1,015,239 |
|
| Cost of investments sold |
|
|
875,421 |
|
|
|
5,603,851 |
|
|
|
197,922 |
|
|
|
751,920 |
|
|
|
665,577 |
|
| Net realized gain (loss) on sales of investments |
|
|
165,929 |
|
|
|
3,111,475 |
|
|
|
(41,213 |
) |
|
|
646,005 |
|
|
|
349,662 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
1,835,029 |
|
|
|
3,931,282 |
|
|
|
62,300 |
|
|
|
726,406 |
|
|
|
389,132 |
|
| Net gain (loss) on investments |
|
|
2,000,958 |
|
|
|
7,042,757 |
|
|
|
21,087 |
|
|
|
1,372,411 |
|
|
|
738,794 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
1,829,657 |
|
|
$ |
6,475,643 |
|
|
$ |
35,512 |
|
|
$ |
1,299,525 |
|
|
$ |
702,622 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Disciplined
Core,
Cl 3 |
|
|
Col VP
Divd Opp,
Cl 2 |
|
|
Col VP
Divd Opp,
Cl 3 |
|
|
Col VP
Emerg
Mkts Bond,
Cl 2 |
|
|
Col VP
Emer Mkts,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
50,980 |
|
|
$ |
26,781 |
|
| Variable account expenses |
|
|
217,376 |
|
|
|
71,952 |
|
|
|
208,264 |
|
|
|
10,627 |
|
|
|
27,135 |
|
| Investment income (loss) — net |
|
|
(217,376 |
) |
|
|
(71,952 |
) |
|
|
(208,264 |
) |
|
|
40,353 |
|
|
|
(354 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,908,751 |
|
|
|
1,094,472 |
|
|
|
2,476,539 |
|
|
|
209,048 |
|
|
|
389,044 |
|
| Cost of investments sold |
|
|
517,839 |
|
|
|
807,351 |
|
|
|
887,530 |
|
|
|
242,671 |
|
|
|
561,797 |
|
| Net realized gain (loss) on sales of investments |
|
|
1,390,912 |
|
|
|
287,121 |
|
|
|
1,589,009 |
|
|
|
(33,623 |
) |
|
|
(172,753 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
3,077,812 |
|
|
|
598,487 |
|
|
|
1,372,666 |
|
|
|
45,171 |
|
|
|
285,176 |
|
| Net gain (loss) on investments |
|
|
4,468,724 |
|
|
|
885,608 |
|
|
|
2,961,675 |
|
|
|
11,548 |
|
|
|
112,423 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
4,251,348 |
|
|
$ |
813,656 |
|
|
$ |
2,753,411 |
|
|
$ |
51,901 |
|
|
$ |
112,069 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Emer Mkts,
Cl 3 |
|
|
Col VP Global
Strategic Inc,
Cl 2 |
|
|
Col VP Global
Strategic Inc,
Cl 3 |
|
|
Col VP Govt
Money Mkt,
Cl 2 |
|
|
Col VP Govt
Money Mkt,
Cl 3 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
45,476 |
|
|
$ |
34,286 |
|
|
$ |
81,843 |
|
|
$ |
769,562 |
|
|
$ |
383,283 |
|
| Variable account expenses |
|
|
39,779 |
|
|
|
12,942 |
|
|
|
23,447 |
|
|
|
169,825 |
|
|
|
77,287 |
|
| Investment income (loss) — net |
|
|
5,697 |
|
|
|
21,344 |
|
|
|
58,396 |
|
|
|
599,737 |
|
|
|
305,996 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
731,696 |
|
|
|
112,630 |
|
|
|
369,641 |
|
|
|
10,866,008 |
|
|
|
2,440,535 |
|
| Cost of investments sold |
|
|
967,133 |
|
|
|
121,058 |
|
|
|
463,904 |
|
|
|
10,866,007 |
|
|
|
2,440,529 |
|
| Net realized gain (loss) on sales of investments |
|
|
(235,437 |
) |
|
|
(8,428 |
) |
|
|
(94,263 |
) |
|
|
1 |
|
|
|
6 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
405,952 |
|
|
|
11,648 |
|
|
|
92,201 |
|
|
|
(1 |
) |
|
|
(7 |
) |
| Net gain (loss) on investments |
|
|
170,515 |
|
|
|
3,220 |
|
|
|
(2,062 |
) |
|
|
— |
|
|
|
(1 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
176,212 |
|
|
$ |
24,564 |
|
|
$ |
56,334 |
|
|
$ |
599,737 |
|
|
$ |
305,995 |
|
See accompanying notes to
financial statements.
|
|
|
|
|
| 28 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Hi Yield
Bond,
Cl 2 |
|
|
Col VP
Hi Yield
Bond,
Cl 3 |
|
|
Col VP
Inc Opp, Cl 2 |
|
|
Col VP
Inc Opp, Cl 3 |
|
|
Col VP
Inter Bond,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
285,849 |
|
|
$ |
292,797 |
|
|
$ |
204,910 |
|
|
$ |
236,093 |
|
|
$ |
300,498 |
|
| Variable account expenses |
|
|
53,000 |
|
|
|
51,641 |
|
|
|
39,459 |
|
|
|
40,316 |
|
|
|
67,317 |
|
| Investment income (loss) — net |
|
|
232,849 |
|
|
|
241,156 |
|
|
|
165,451 |
|
|
|
195,777 |
|
|
|
233,181 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
671,137 |
|
|
|
796,172 |
|
|
|
759,879 |
|
|
|
924,812 |
|
|
|
643,121 |
|
| Cost of investments sold |
|
|
693,522 |
|
|
|
847,650 |
|
|
|
838,401 |
|
|
|
1,107,134 |
|
|
|
742,488 |
|
| Net realized gain (loss) on sales of investments |
|
|
(22,385 |
) |
|
|
(51,478 |
) |
|
|
(78,522 |
) |
|
|
(182,322 |
) |
|
|
(99,367 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
64,073 |
|
|
|
102,489 |
|
|
|
83,610 |
|
|
|
192,171 |
|
|
|
(89,516 |
) |
| Net gain (loss) on investments |
|
|
41,688 |
|
|
|
51,011 |
|
|
|
5,088 |
|
|
|
9,849 |
|
|
|
(188,883 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
274,537 |
|
|
$ |
292,167 |
|
|
$ |
170,539 |
|
|
$ |
205,626 |
|
|
$ |
44,298 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Inter Bond,
Cl 3 |
|
|
Col VP
Lg Cap Gro, Cl 2 |
|
|
Col VP
Lg Cap Gro, Cl 3 |
|
|
Col VP
Lg Cap Index,
Cl 2 |
|
|
Col VP
Lg Cap
Index,
Cl 3 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
506,008 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
104,908 |
|
|
|
97,177 |
|
|
|
40,680 |
|
|
|
323,023 |
|
|
|
833,501 |
|
| Investment income (loss) — net |
|
|
401,100 |
|
|
|
(97,177 |
) |
|
|
(40,680 |
) |
|
|
(323,023 |
) |
|
|
(833,501 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,321,618 |
|
|
|
1,602,163 |
|
|
|
789,858 |
|
|
|
2,405,119 |
|
|
|
13,763,269 |
|
| Cost of investments sold |
|
|
1,588,504 |
|
|
|
1,035,697 |
|
|
|
244,728 |
|
|
|
1,953,017 |
|
|
|
7,462,748 |
|
| Net realized gain (loss) on sales of investments |
|
|
(266,886 |
) |
|
|
566,466 |
|
|
|
545,130 |
|
|
|
452,102 |
|
|
|
6,300,521 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(33,702 |
) |
|
|
1,827,279 |
|
|
|
716,195 |
|
|
|
5,745,357 |
|
|
|
11,563,816 |
|
| Net gain (loss) on investments |
|
|
(300,588 |
) |
|
|
2,393,745 |
|
|
|
1,261,325 |
|
|
|
6,197,459 |
|
|
|
17,864,337 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
100,512 |
|
|
$ |
2,296,568 |
|
|
$ |
1,220,645 |
|
|
$ |
5,874,436 |
|
|
$ |
17,030,836 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Limited
Duration Cr,
Cl 2 |
|
|
Col VP
Long Govt/ Cr Bond,
Cl
2 |
|
|
Col VP
Overseas
Core,
Cl 2 |
|
|
Col VP
Overseas
Core,
Cl 3 |
|
|
Col VP
Select
Lg Cap Eq,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
129,877 |
|
|
$ |
53,956 |
|
|
$ |
54,105 |
|
|
$ |
126,226 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
38,202 |
|
|
|
13,170 |
|
|
|
16,433 |
|
|
|
31,965 |
|
|
|
6,057 |
|
| Investment income (loss) — net |
|
|
91,675 |
|
|
|
40,786 |
|
|
|
37,672 |
|
|
|
94,261 |
|
|
|
(6,057 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
803,379 |
|
|
|
670,883 |
|
|
|
98,886 |
|
|
|
377,723 |
|
|
|
42,126 |
|
| Cost of investments sold |
|
|
809,066 |
|
|
|
735,478 |
|
|
|
98,512 |
|
|
|
351,424 |
|
|
|
36,466 |
|
| Net realized gain (loss) on sales of investments |
|
|
(5,687 |
) |
|
|
(64,595 |
) |
|
|
374 |
|
|
|
26,299 |
|
|
|
5,660 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
42,653 |
|
|
|
(35,993 |
) |
|
|
(27,486 |
) |
|
|
(50,003 |
) |
|
|
99,123 |
|
| Net gain (loss) on investments |
|
|
36,966 |
|
|
|
(100,588 |
) |
|
|
(27,112 |
) |
|
|
(23,704 |
) |
|
|
104,783 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
128,641 |
|
|
$ |
(59,802 |
) |
|
$ |
10,560 |
|
|
$ |
70,557 |
|
|
$ |
98,726 |
|
See accompanying notes to
financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
29 |
|
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Select
Lg Cap Val,
Cl 2 |
|
|
Col VP
Select
Lg Cap Val,
Cl 3 |
|
|
Col VP
Select
Mid Cap Gro,
Cl 2 |
|
|
Col VP
Select
Mid Cap Gro,
Cl 3 |
|
|
Col VP
Select
Mid Cap Val,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
48,717 |
|
|
|
8,015 |
|
|
|
30,420 |
|
|
|
42,130 |
|
|
|
33,731 |
|
| Investment income (loss) — net |
|
|
(48,717 |
) |
|
|
(8,015 |
) |
|
|
(30,420 |
) |
|
|
(42,130 |
) |
|
|
(33,731 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
696,989 |
|
|
|
189,344 |
|
|
|
248,744 |
|
|
|
320,705 |
|
|
|
484,833 |
|
| Cost of investments sold |
|
|
566,949 |
|
|
|
125,691 |
|
|
|
183,907 |
|
|
|
123,213 |
|
|
|
334,642 |
|
| Net realized gain (loss) on sales of investments |
|
|
130,040 |
|
|
|
63,653 |
|
|
|
64,837 |
|
|
|
197,492 |
|
|
|
150,191 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
384,405 |
|
|
|
29,728 |
|
|
|
515,991 |
|
|
|
588,868 |
|
|
|
202,284 |
|
| Net gain (loss) on investments |
|
|
514,445 |
|
|
|
93,381 |
|
|
|
580,828 |
|
|
|
786,360 |
|
|
|
352,475 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
465,728 |
|
|
$ |
85,366 |
|
|
$ |
550,408 |
|
|
$ |
744,230 |
|
|
$ |
318,744 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Select
Mid Cap Val,
Cl 3 |
|
|
Col VP
Select
Sm Cap Val,
Cl 2 |
|
|
Col VP
Select
Sm Cap Val,
Cl 3 |
|
|
Col VP Sel
Gbl Tech,
Cl 2 |
|
|
Col VP
Sm Cap Val,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
495 |
|
| Variable account expenses |
|
|
15,961 |
|
|
|
16,237 |
|
|
|
12,502 |
|
|
|
8,610 |
|
|
|
973 |
|
| Investment income (loss) — net |
|
|
(15,961 |
) |
|
|
(16,237 |
) |
|
|
(12,502 |
) |
|
|
(8,610 |
) |
|
|
(478 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
441,860 |
|
|
|
245,704 |
|
|
|
204,850 |
|
|
|
32,738 |
|
|
|
10,039 |
|
| Cost of investments sold |
|
|
163,563 |
|
|
|
199,454 |
|
|
|
100,750 |
|
|
|
28,222 |
|
|
|
9,876 |
|
| Net realized gain (loss) on sales of investments |
|
|
278,297 |
|
|
|
46,250 |
|
|
|
104,100 |
|
|
|
4,516 |
|
|
|
163 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
69,638 |
|
|
|
4,068 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(73,108 |
) |
|
|
141,804 |
|
|
|
80,094 |
|
|
|
125,356 |
|
|
|
3,739 |
|
| Net gain (loss) on investments |
|
|
205,189 |
|
|
|
188,054 |
|
|
|
184,194 |
|
|
|
199,510 |
|
|
|
7,970 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
189,228 |
|
|
$ |
171,817 |
|
|
$ |
171,692 |
|
|
$ |
190,900 |
|
|
$ |
7,492 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Strategic Inc,
Cl 2 |
|
|
Col VP
US Govt
Mtge,
Cl 2 |
|
|
Col VP
US Govt
Mtge,
Cl 3 |
|
|
CS
Commodity
Return,
Cl 1 |
|
|
CTIVP
AC Div Bond,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
214,694 |
|
|
$ |
122,590 |
|
|
$ |
63,486 |
|
|
$ |
13,270 |
|
|
$ |
64,968 |
|
| Variable account expenses |
|
|
52,980 |
|
|
|
31,028 |
|
|
|
17,636 |
|
|
|
3,842 |
|
|
|
18,019 |
|
| Investment income (loss) — net |
|
|
161,714 |
|
|
|
91,562 |
|
|
|
45,850 |
|
|
|
9,428 |
|
|
|
46,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,200,176 |
|
|
|
2,652,784 |
|
|
|
396,247 |
|
|
|
85,410 |
|
|
|
101,746 |
|
| Cost of investments sold |
|
|
1,259,113 |
|
|
|
2,682,379 |
|
|
|
459,365 |
|
|
|
130,729 |
|
|
|
118,091 |
|
| Net realized gain (loss) on sales of investments |
|
|
(58,937 |
) |
|
|
(29,595 |
) |
|
|
(63,118 |
) |
|
|
(45,319 |
) |
|
|
(16,345 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
45,843 |
|
|
|
111,883 |
|
|
|
29,226 |
|
|
|
52,793 |
|
|
|
(23,989 |
) |
| Net gain (loss) on investments |
|
|
(13,094 |
) |
|
|
82,288 |
|
|
|
(33,892 |
) |
|
|
7,474 |
|
|
|
(40,334 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
148,620 |
|
|
$ |
173,850 |
|
|
$ |
11,958 |
|
|
$ |
16,902 |
|
|
$ |
6,615 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 30 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
CTIVP
BR Gl Infl
Prot Sec,
Cl 2 |
|
|
CTIVP
BR Gl Infl
Prot Sec,
Cl 3 |
|
|
CTIVP
CenterSquare
Real Est,
Cl 2 |
|
|
CTIVP
MFS Val,
Cl 2 |
|
|
CTIVP
Prin Blue
Chip Gro,
Cl 1 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
23,597 |
|
|
$ |
45,297 |
|
|
$ |
26,357 |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
14,083 |
|
|
|
22,116 |
|
|
|
11,519 |
|
|
|
63,410 |
|
|
|
51,952 |
|
| Investment income (loss) — net |
|
|
9,514 |
|
|
|
23,181 |
|
|
|
14,838 |
|
|
|
(63,410 |
) |
|
|
(51,952 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
252,818 |
|
|
|
340,987 |
|
|
|
179,054 |
|
|
|
887,692 |
|
|
|
960,432 |
|
| Cost of investments sold |
|
|
321,139 |
|
|
|
473,406 |
|
|
|
218,879 |
|
|
|
630,914 |
|
|
|
340,556 |
|
| Net realized gain (loss) on sales of investments |
|
|
(68,321 |
) |
|
|
(132,419 |
) |
|
|
(39,825 |
) |
|
|
256,778 |
|
|
|
619,876 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
27,634 |
|
|
|
65,001 |
|
|
|
118,128 |
|
|
|
317,182 |
|
|
|
446,057 |
|
| Net gain (loss) on investments |
|
|
(40,687 |
) |
|
|
(67,418 |
) |
|
|
78,303 |
|
|
|
573,960 |
|
|
|
1,065,933 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
(31,173) |
|
|
$ |
(44,237) |
|
|
$ |
93,141 |
|
|
$ |
510,550 |
|
|
$ |
1,013,981 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
CTIVP
Prin Blue
Chip Gro, Cl 2 |
|
|
CTIVP
T Rowe Price
LgCap Val,
Cl 2 |
|
|
CTIVP
TCW Core
Plus Bond, Cl 2 |
|
|
CTIVP
Vty Sycamore
Estb Val, Cl
2 |
|
|
CTIVP
Vty Sycamore
Estb Val, Cl
3 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
89,385 |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
32,967 |
|
|
|
46,315 |
|
|
|
21,148 |
|
|
|
67,771 |
|
|
|
9,555 |
|
| Investment income (loss) — net |
|
|
(32,967 |
) |
|
|
(46,315 |
) |
|
|
68,237 |
|
|
|
(67,771 |
) |
|
|
(9,555 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
482,983 |
|
|
|
907,303 |
|
|
|
798,052 |
|
|
|
1,005,412 |
|
|
|
235,293 |
|
| Cost of investments sold |
|
|
316,906 |
|
|
|
663,309 |
|
|
|
803,026 |
|
|
|
672,498 |
|
|
|
130,789 |
|
| Net realized gain (loss) on sales of investments |
|
|
166,077 |
|
|
|
243,994 |
|
|
|
(4,974 |
) |
|
|
332,914 |
|
|
|
104,504 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
391,449 |
|
|
|
233,244 |
|
|
|
(57,283 |
) |
|
|
244,704 |
|
|
|
(16,566 |
) |
| Net gain (loss) on investments |
|
|
557,526 |
|
|
|
477,238 |
|
|
|
(62,257 |
) |
|
|
577,618 |
|
|
|
87,938 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
524,559 |
|
|
$ |
430,923 |
|
|
$ |
5,980 |
|
|
$ |
509,847 |
|
|
$ |
78,383 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
CTIVP
Westfield
Mid Cap Gro,
Cl 2 |
|
|
CTIVP
Westfield
Sel Lg Cp Gr,
Cl 2 |
|
|
CVT EAFE
Intl Index,
Cl F |
|
|
CVT Nasdaq
100 Index,
Cl F |
|
|
CVT
Russ 2000
Sm Cap Ind,
Cl F |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
16,091 |
|
|
$ |
20,431 |
|
|
$ |
10,010 |
|
| Variable account expenses |
|
|
13,773 |
|
|
|
13,564 |
|
|
|
5,134 |
|
|
|
40,576 |
|
|
|
7,311 |
|
| Investment income (loss) — net |
|
|
(13,773 |
) |
|
|
(13,564 |
) |
|
|
10,957 |
|
|
|
(20,145 |
) |
|
|
2,699 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
229,747 |
|
|
|
245,969 |
|
|
|
28,615 |
|
|
|
195,724 |
|
|
|
67,157 |
|
| Cost of investments sold |
|
|
131,548 |
|
|
|
213,751 |
|
|
|
26,489 |
|
|
|
159,671 |
|
|
|
60,590 |
|
| Net realized gain (loss) on sales of investments |
|
|
98,199 |
|
|
|
32,218 |
|
|
|
2,126 |
|
|
|
36,053 |
|
|
|
6,567 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
401,689 |
|
|
|
16,194 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
112,491 |
|
|
|
277,019 |
|
|
|
(17,400 |
) |
|
|
396,603 |
|
|
|
37,442 |
|
| Net gain (loss) on investments |
|
|
210,690 |
|
|
|
309,237 |
|
|
|
(15,274 |
) |
|
|
834,345 |
|
|
|
60,203 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
196,917 |
|
|
$ |
295,673 |
|
|
$ |
(4,317 |
) |
|
$ |
814,200 |
|
|
$ |
62,902 |
|
See accompanying notes to
financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
31 |
|
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
DWS
Alt Asset
Alloc VIP,
Cl
B |
|
|
EV VT
Floating-
Rate Inc,
Init Cl |
|
|
Fid VIP
Contrafund,
Serv Cl 2 |
|
|
Fid VIP
Emer Mkts,
Serv Cl 2 |
|
|
Fid VIP
Energy,
Serv Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
31,764 |
|
|
$ |
423,497 |
|
|
$ |
15,860 |
|
|
$ |
1,026 |
|
|
$ |
10,357 |
|
| Variable account expenses |
|
|
11,444 |
|
|
|
52,809 |
|
|
|
508,620 |
|
|
|
853 |
|
|
|
4,701 |
|
| Investment income (loss) — net |
|
|
20,320 |
|
|
|
370,688 |
|
|
|
(492,760 |
) |
|
|
173 |
|
|
|
5,656 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
174,340 |
|
|
|
682,751 |
|
|
|
10,660,389 |
|
|
|
3,541 |
|
|
|
222,304 |
|
| Cost of investments sold |
|
|
178,046 |
|
|
|
703,733 |
|
|
|
7,349,250 |
|
|
|
3,063 |
|
|
|
217,766 |
|
| Net realized gain (loss) on sales of investments |
|
|
(3,706 |
) |
|
|
(20,982 |
) |
|
|
3,311,139 |
|
|
|
478 |
|
|
|
4,538 |
|
| Distributions from capital gains |
|
|
559 |
|
|
|
— |
|
|
|
6,070,891 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
21,566 |
|
|
|
(366 |
) |
|
|
4,329,707 |
|
|
|
4,314 |
|
|
|
2,125 |
|
| Net gain (loss) on investments |
|
|
18,419 |
|
|
|
(21,348 |
) |
|
|
13,711,737 |
|
|
|
4,792 |
|
|
|
6,663 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
38,739 |
|
|
$ |
349,340 |
|
|
$ |
13,218,977 |
|
|
$ |
4,965 |
|
|
$ |
12,319 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Fid VIP
Gro & Inc,
Serv Cl |
|
|
Fid VIP
Gro & Inc, Serv Cl 2 |
|
|
Fid VIP
Gro Opp,
Serv Cl 2 |
|
|
Fid VIP
Intl Cap Appr,
Serv Cl 2 |
|
|
Fid VIP
Invest Gr,
Serv Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
12,009 |
|
|
$ |
107,286 |
|
|
$ |
— |
|
|
$ |
2,065 |
|
|
$ |
63,070 |
|
| Variable account expenses |
|
|
7,634 |
|
|
|
78,905 |
|
|
|
10,290 |
|
|
|
2,916 |
|
|
|
18,012 |
|
| Investment income (loss) — net |
|
|
4,375 |
|
|
|
28,381 |
|
|
|
(10,290 |
) |
|
|
(851 |
) |
|
|
45,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
111,728 |
|
|
|
1,264,558 |
|
|
|
95,840 |
|
|
|
13,682 |
|
|
|
111,952 |
|
| Cost of investments sold |
|
|
74,892 |
|
|
|
778,094 |
|
|
|
73,455 |
|
|
|
11,653 |
|
|
|
108,382 |
|
| Net realized gain (loss) on sales of investments |
|
|
36,836 |
|
|
|
486,464 |
|
|
|
22,385 |
|
|
|
2,029 |
|
|
|
3,570 |
|
| Distributions from capital gains |
|
|
58,294 |
|
|
|
579,560 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
62,160 |
|
|
|
478,262 |
|
|
|
289,156 |
|
|
|
11,937 |
|
|
|
(34,750 |
) |
| Net gain (loss) on investments |
|
|
157,290 |
|
|
|
1,544,286 |
|
|
|
311,541 |
|
|
|
13,966 |
|
|
|
(31,180 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
161,665 |
|
|
$ |
1,572,667 |
|
|
$ |
301,251 |
|
|
$ |
13,115 |
|
|
$ |
13,878 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Fid VIP
Mid Cap,
Serv Cl |
|
|
Fid VIP
Mid Cap, Serv Cl 2 |
|
|
Fid VIP
Overseas,
Serv Cl |
|
|
Fid VIP
Overseas,
Serv Cl 2 |
|
|
Fid VIP
Strategic Inc,
Serv Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
8,197 |
|
|
$ |
90,378 |
|
|
$ |
3,474 |
|
|
$ |
33,658 |
|
|
$ |
372,670 |
|
| Variable account expenses |
|
|
15,742 |
|
|
|
260,968 |
|
|
|
1,916 |
|
|
|
22,603 |
|
|
|
102,247 |
|
| Investment income (loss) — net |
|
|
(7,545 |
) |
|
|
(170,590 |
) |
|
|
1,558 |
|
|
|
11,055 |
|
|
|
270,423 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
141,342 |
|
|
|
5,147,382 |
|
|
|
17,164 |
|
|
|
486,643 |
|
|
|
1,246,663 |
|
| Cost of investments sold |
|
|
111,869 |
|
|
|
4,502,946 |
|
|
|
12,505 |
|
|
|
371,412 |
|
|
|
1,298,634 |
|
| Net realized gain (loss) on sales of investments |
|
|
29,473 |
|
|
|
644,436 |
|
|
|
4,659 |
|
|
|
115,231 |
|
|
|
(51,971 |
) |
| Distributions from capital gains |
|
|
225,857 |
|
|
|
3,505,495 |
|
|
|
9,868 |
|
|
|
110,491 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
15,251 |
|
|
|
(107,317 |
) |
|
|
(7,093 |
) |
|
|
(141,253 |
) |
|
|
228,610 |
|
| Net gain (loss) on investments |
|
|
270,581 |
|
|
|
4,042,614 |
|
|
|
7,434 |
|
|
|
84,469 |
|
|
|
176,639 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
263,036 |
|
|
$ |
3,872,024 |
|
|
$ |
8,992 |
|
|
$ |
95,524 |
|
|
$ |
447,062 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 32 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Frank Global
Real Est,
Cl 2 |
|
|
Frank
Inc,
Cl 2 |
|
|
Frank
Inc, Cl 4 |
|
|
Frank Mutual
Gbl Dis,
Cl 4 |
|
|
Frank Mutual
Shares,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
36,535 |
|
|
$ |
231,623 |
|
|
$ |
37,682 |
|
|
$ |
1,094 |
|
|
$ |
145,920 |
|
| Variable account expenses |
|
|
17,410 |
|
|
|
49,490 |
|
|
|
8,429 |
|
|
|
518 |
|
|
|
77,194 |
|
| Investment income (loss) — net |
|
|
19,125 |
|
|
|
182,133 |
|
|
|
29,253 |
|
|
|
576 |
|
|
|
68,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
252,159 |
|
|
|
778,580 |
|
|
|
92,924 |
|
|
|
525 |
|
|
|
1,860,720 |
|
| Cost of investments sold |
|
|
306,903 |
|
|
|
812,199 |
|
|
|
93,978 |
|
|
|
515 |
|
|
|
1,907,436 |
|
| Net realized gain (loss) on sales of investments |
|
|
(54,744 |
) |
|
|
(33,619 |
) |
|
|
(1,054 |
) |
|
|
10 |
|
|
|
(46,716 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
18,977 |
|
|
|
3,141 |
|
|
|
4,972 |
|
|
|
151,745 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
14,657 |
|
|
|
89,395 |
|
|
|
9,912 |
|
|
|
(5,149 |
) |
|
|
597,274 |
|
| Net gain (loss) on investments |
|
|
(40,087 |
) |
|
|
74,753 |
|
|
|
11,999 |
|
|
|
(167 |
) |
|
|
702,303 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
(20,962 |
) |
|
$ |
256,886 |
|
|
$ |
41,252 |
|
|
$ |
409 |
|
|
$ |
771,029 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Frank Sm
Cap Val,
Cl 2 |
|
|
Frank Sm
Cap Val,
Cl 4 |
|
|
GS VIT
Mid Cap Val,
Inst |
|
|
GS VIT
Multi-
Strategy Alt,
Advisor |
|
|
GS VIT
Multi-
Strategy Alt,
Serv |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
69,536 |
|
|
$ |
4,037 |
|
|
$ |
62,630 |
|
|
$ |
15,320 |
|
|
$ |
3,602 |
|
| Variable account expenses |
|
|
73,502 |
|
|
|
6,767 |
|
|
|
57,517 |
|
|
|
6,506 |
|
|
|
1,161 |
|
| Investment income (loss) — net |
|
|
(3,966 |
) |
|
|
(2,730 |
) |
|
|
5,113 |
|
|
|
8,814 |
|
|
|
2,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,598,796 |
|
|
|
22,444 |
|
|
|
1,081,432 |
|
|
|
54,874 |
|
|
|
1,337 |
|
| Cost of investments sold |
|
|
1,695,755 |
|
|
|
20,246 |
|
|
|
987,561 |
|
|
|
56,002 |
|
|
|
1,337 |
|
| Net realized gain (loss) on sales of investments |
|
|
(96,959 |
) |
|
|
2,198 |
|
|
|
93,871 |
|
|
|
(1,128 |
) |
|
|
— |
|
| Distributions from capital gains |
|
|
171,870 |
|
|
|
10,959 |
|
|
|
358,077 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
677,219 |
|
|
|
47,736 |
|
|
|
246,263 |
|
|
|
3,613 |
|
|
|
(394 |
) |
| Net gain (loss) on investments |
|
|
752,130 |
|
|
|
60,893 |
|
|
|
698,211 |
|
|
|
2,485 |
|
|
|
(394 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
748,164 |
|
|
$ |
58,163 |
|
|
$ |
703,324 |
|
|
$ |
11,299 |
|
|
$ |
2,047 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
GS VIT
Sm Cap
Eq Insights,
Inst |
|
|
GS VIT
Sm Cap
Eq Insights,
Serv |
|
|
GS VIT
U.S. Eq
Insights,
Inst |
|
|
Invesco VI
Am Fran,
Ser I |
|
|
Invesco VI
Am Fran,
Ser II |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
1,546 |
|
|
$ |
1,243 |
|
|
$ |
23,966 |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
1,407 |
|
|
|
1,534 |
|
|
|
34,782 |
|
|
|
2,179 |
|
|
|
18,384 |
|
| Investment income (loss) — net |
|
|
139 |
|
|
|
(291 |
) |
|
|
(10,816 |
) |
|
|
(2,179 |
) |
|
|
(18,384 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
26,634 |
|
|
|
12,734 |
|
|
|
787,423 |
|
|
|
59,947 |
|
|
|
487,239 |
|
| Cost of investments sold |
|
|
25,547 |
|
|
|
10,643 |
|
|
|
594,472 |
|
|
|
46,447 |
|
|
|
374,066 |
|
| Net realized gain (loss) on sales of investments |
|
|
1,087 |
|
|
|
2,091 |
|
|
|
192,951 |
|
|
|
13,500 |
|
|
|
113,173 |
|
| Distributions from capital gains |
|
|
12,785 |
|
|
|
13,201 |
|
|
|
517,762 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
11,917 |
|
|
|
9,223 |
|
|
|
223,933 |
|
|
|
64,644 |
|
|
|
482,595 |
|
| Net gain (loss) on investments |
|
|
25,789 |
|
|
|
24,515 |
|
|
|
934,646 |
|
|
|
78,144 |
|
|
|
595,768 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
25,928 |
|
|
$ |
24,224 |
|
|
$ |
923,830 |
|
|
$ |
75,965 |
|
|
$ |
577,384 |
|
See accompanying notes to
financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
33 |
|
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Bal Risk
Alloc,
Ser II |
|
|
Invesco VI
Comstock,
Ser II |
|
|
Invesco VI
Core Eq,
Ser I |
|
|
Invesco VI
Core Plus
Bond,
Ser II |
|
|
Invesco VI
Dis Mid
Cap Gro,
Ser I |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
82,391 |
|
|
$ |
61,017 |
|
|
$ |
42,181 |
|
|
$ |
17,987 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
15,850 |
|
|
|
38,649 |
|
|
|
75,746 |
|
|
|
5,183 |
|
|
|
6,179 |
|
| Investment income (loss) — net |
|
|
66,541 |
|
|
|
22,368 |
|
|
|
(33,565 |
) |
|
|
12,804 |
|
|
|
(6,179 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
157,493 |
|
|
|
772,143 |
|
|
|
469,585 |
|
|
|
6,939 |
|
|
|
52,123 |
|
| Cost of investments sold |
|
|
182,077 |
|
|
|
574,033 |
|
|
|
397,289 |
|
|
|
6,754 |
|
|
|
54,555 |
|
| Net realized gain (loss) on sales of investments |
|
|
(24,584 |
) |
|
|
198,110 |
|
|
|
72,296 |
|
|
|
185 |
|
|
|
(2,432 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
286,209 |
|
|
|
506,569 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(11,184 |
) |
|
|
38,414 |
|
|
|
726,794 |
|
|
|
(7,733 |
) |
|
|
162,376 |
|
| Net gain (loss) on investments |
|
|
(35,768 |
) |
|
|
522,733 |
|
|
|
1,305,659 |
|
|
|
(7,548 |
) |
|
|
159,944 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
30,773 |
|
|
$ |
545,101 |
|
|
$ |
1,272,094 |
|
|
$ |
5,256 |
|
|
$ |
153,765 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Dis Mid
Cap Gro,
Ser II |
|
|
Invesco VI
Div Divd,
Ser I |
|
|
Invesco VI
Div Divd,
Ser II |
|
|
Invesco VI
EQV Intl Eq,
Ser II |
|
|
Invesco VI
Global,
Ser II |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
8,238 |
|
|
$ |
5,196 |
|
|
$ |
24,370 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
3,956 |
|
|
|
5,882 |
|
|
|
2,974 |
|
|
|
16,780 |
|
|
|
85,035 |
|
| Investment income (loss) — net |
|
|
(3,956 |
) |
|
|
2,356 |
|
|
|
2,222 |
|
|
|
7,590 |
|
|
|
(85,035 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
161,471 |
|
|
|
360,514 |
|
|
|
16,047 |
|
|
|
532,088 |
|
|
|
1,719,502 |
|
| Cost of investments sold |
|
|
180,756 |
|
|
|
290,237 |
|
|
|
14,180 |
|
|
|
494,229 |
|
|
|
1,637,118 |
|
| Net realized gain (loss) on sales of investments |
|
|
(19,285 |
) |
|
|
70,277 |
|
|
|
1,867 |
|
|
|
37,859 |
|
|
|
82,384 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
17,534 |
|
|
|
12,665 |
|
|
|
8,439 |
|
|
|
491,826 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
101,295 |
|
|
|
(13,700 |
) |
|
|
17,106 |
|
|
|
(45,729 |
) |
|
|
625,536 |
|
| Net gain (loss) on investments |
|
|
82,010 |
|
|
|
74,111 |
|
|
|
31,638 |
|
|
|
569 |
|
|
|
1,199,746 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
78,054 |
|
|
$ |
76,467 |
|
|
$ |
33,860 |
|
|
$ |
8,159 |
|
|
$ |
1,114,711 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Gbl Strat Inc,
Ser II |
|
|
Invesco VI
Hlth,
Ser II |
|
|
Invesco VI
Main St,
Ser II |
|
|
Invesco VI
Mn St Sm Cap,
Ser II |
|
|
Invesco VI
Tech,
Ser I |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
165,039 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
58,891 |
|
|
|
13,378 |
|
|
|
1,396 |
|
|
|
71,096 |
|
|
|
10,535 |
|
| Investment income (loss) — net |
|
|
106,148 |
|
|
|
(13,378 |
) |
|
|
(1,396 |
) |
|
|
(71,096 |
) |
|
|
(10,535 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,026,397 |
|
|
|
516,972 |
|
|
|
49,791 |
|
|
|
1,100,530 |
|
|
|
385,223 |
|
| Cost of investments sold |
|
|
1,178,323 |
|
|
|
506,610 |
|
|
|
59,328 |
|
|
|
925,558 |
|
|
|
360,489 |
|
| Net realized gain (loss) on sales of investments |
|
|
(151,926 |
) |
|
|
10,362 |
|
|
|
(9,537 |
) |
|
|
174,972 |
|
|
|
24,734 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
13,790 |
|
|
|
247,403 |
|
|
|
49,612 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
158,401 |
|
|
|
66,445 |
|
|
|
25,578 |
|
|
|
335,589 |
|
|
|
285,410 |
|
| Net gain (loss) on investments |
|
|
6,475 |
|
|
|
76,807 |
|
|
|
29,831 |
|
|
|
757,964 |
|
|
|
359,756 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
112,623 |
|
|
$ |
63,429 |
|
|
$ |
28,435 |
|
|
$ |
686,868 |
|
|
$ |
349,221 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 34 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Tech,
Ser II |
|
|
Janus
Henderson
VIT Bal,
Serv |
|
|
Janus
Henderson
VIT Enter,
Serv |
|
|
Janus
Henderson
VIT Flex Bd,
Serv |
|
|
Janus
Henderson
VIT Forty,
Serv |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
342,310 |
|
|
$ |
3,243 |
|
|
$ |
150,757 |
|
|
$ |
26 |
|
| Variable account expenses |
|
|
8,085 |
|
|
|
221,532 |
|
|
|
4,424 |
|
|
|
34,497 |
|
|
|
13,197 |
|
| Investment income (loss) — net |
|
|
(8,085 |
) |
|
|
120,778 |
|
|
|
(1,181 |
) |
|
|
116,260 |
|
|
|
(13,171 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
364,275 |
|
|
|
2,427,401 |
|
|
|
19,055 |
|
|
|
212,187 |
|
|
|
73,963 |
|
| Cost of investments sold |
|
|
273,067 |
|
|
|
2,035,550 |
|
|
|
14,329 |
|
|
|
229,241 |
|
|
|
61,660 |
|
| Net realized gain (loss) on sales of investments |
|
|
91,208 |
|
|
|
391,851 |
|
|
|
4,726 |
|
|
|
(17,054 |
) |
|
|
12,303 |
|
| Distributions from capital gains |
|
|
51,541 |
|
|
|
— |
|
|
|
22,699 |
|
|
|
— |
|
|
|
15,904 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
94,804 |
|
|
|
1,938,592 |
|
|
|
41,294 |
|
|
|
(79,945 |
) |
|
|
176,211 |
|
| Net gain (loss) on investments |
|
|
237,553 |
|
|
|
2,330,443 |
|
|
|
68,719 |
|
|
|
(96,999 |
) |
|
|
204,418 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
229,468 |
|
|
$ |
2,451,221 |
|
|
$ |
67,538 |
|
|
$ |
19,261 |
|
|
$ |
191,247 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Janus
Hend VIT
Gbl Tech
Innov,
Srv |
|
|
Janus
Henderson
VIT Overseas,
Serv |
|
|
Janus
Henderson
VIT Res,
Serv |
|
|
Lazard Ret
Emer
Mkts Eq,
Serv |
|
|
Lazard Ret
Global
Dyn MA,
Serv |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
15,489 |
|
|
$ |
— |
|
|
$ |
2,206 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
13,132 |
|
|
|
10,525 |
|
|
|
34,333 |
|
|
|
674 |
|
|
|
5,763 |
|
| Investment income (loss) — net |
|
|
(13,132 |
) |
|
|
4,964 |
|
|
|
(34,333 |
) |
|
|
1,532 |
|
|
|
(5,763 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
180,021 |
|
|
|
217,841 |
|
|
|
928,254 |
|
|
|
718 |
|
|
|
746,303 |
|
| Cost of investments sold |
|
|
106,577 |
|
|
|
179,599 |
|
|
|
620,114 |
|
|
|
707 |
|
|
|
735,143 |
|
| Net realized gain (loss) on sales of investments |
|
|
73,444 |
|
|
|
38,242 |
|
|
|
308,140 |
|
|
|
11 |
|
|
|
11,160 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
100,282 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
326,692 |
|
|
|
11,004 |
|
|
|
580,596 |
|
|
|
(7,281 |
) |
|
|
44,422 |
|
| Net gain (loss) on investments |
|
|
400,136 |
|
|
|
49,246 |
|
|
|
989,018 |
|
|
|
(7,270 |
) |
|
|
55,582 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
387,004 |
|
|
$ |
54,210 |
|
|
$ |
954,685 |
|
|
$ |
(5,738 |
) |
|
$ |
49,819 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Lord Abt
Bond Debenture,
Cl VC |
|
|
Lord Abt
Short Dur Inc,
Cl VC |
|
|
LVIP AC
Intl,
Serv Cl |
|
|
LVIP AC
Intl,
Std Cl II |
|
|
LVIP AC
Mid Cap Val,
Serv Cl |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
50,669 |
|
|
$ |
26,599 |
|
|
$ |
10,611 |
|
|
$ |
2,665 |
|
|
$ |
61,386 |
|
| Variable account expenses |
|
|
7,613 |
|
|
|
5,737 |
|
|
|
6,893 |
|
|
|
1,509 |
|
|
|
25,809 |
|
| Investment income (loss) — net |
|
|
43,056 |
|
|
|
20,862 |
|
|
|
3,718 |
|
|
|
1,156 |
|
|
|
35,577 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
32,288 |
|
|
|
19,781 |
|
|
|
95,053 |
|
|
|
9,069 |
|
|
|
377,684 |
|
| Cost of investments sold |
|
|
31,924 |
|
|
|
19,535 |
|
|
|
85,109 |
|
|
|
7,361 |
|
|
|
356,301 |
|
| Net realized gain (loss) on sales of investments |
|
|
364 |
|
|
|
246 |
|
|
|
9,944 |
|
|
|
1,708 |
|
|
|
21,383 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
120,524 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(6,130 |
) |
|
|
335 |
|
|
|
(2,672 |
) |
|
|
389 |
|
|
|
5,569 |
|
| Net gain (loss) on investments |
|
|
(5,766 |
) |
|
|
581 |
|
|
|
7,272 |
|
|
|
2,097 |
|
|
|
147,476 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
37,290 |
|
|
$ |
21,443 |
|
|
$ |
10,990 |
|
|
$ |
3,253 |
|
|
$ |
183,053 |
|
See accompanying notes to
financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
35 |
|
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
LVIP AC
Ultra,
Serv Cl |
|
|
LVIP AC
Val,
Serv Cl |
|
|
LVIP AC
Val,
Std Cl II |
|
|
LVIP JPM
US Eq,
Serv Cl(1) |
|
|
Mac VIP
Asset Strategy,
Serv Cl |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
333,512 |
|
|
$ |
15,167 |
|
|
$ |
677 |
|
|
$ |
11,623 |
|
| Variable account expenses |
|
|
29,038 |
|
|
|
131,374 |
|
|
|
4,461 |
|
|
|
2,044 |
|
|
|
6,241 |
|
| Investment income (loss) — net |
|
|
(29,038 |
) |
|
|
202,138 |
|
|
|
10,706 |
|
|
|
(1,367 |
) |
|
|
5,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
857,172 |
|
|
|
3,813,931 |
|
|
|
21,565 |
|
|
|
25,896 |
|
|
|
72,915 |
|
| Cost of investments sold |
|
|
638,569 |
|
|
|
3,192,198 |
|
|
|
15,109 |
|
|
|
20,528 |
|
|
|
71,773 |
|
| Net realized gain (loss) on sales of investments |
|
|
218,603 |
|
|
|
621,733 |
|
|
|
6,456 |
|
|
|
5,368 |
|
|
|
1,142 |
|
| Distributions from capital gains |
|
|
250,217 |
|
|
|
758,468 |
|
|
|
29,310 |
|
|
|
8,444 |
|
|
|
23,340 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
290,233 |
|
|
|
(558,169 |
) |
|
|
(4,112 |
) |
|
|
25,708 |
|
|
|
33,840 |
|
| Net gain (loss) on investments |
|
|
759,053 |
|
|
|
822,032 |
|
|
|
31,654 |
|
|
|
39,520 |
|
|
|
58,322 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
730,015 |
|
|
$ |
1,024,170 |
|
|
$ |
42,360 |
|
|
$ |
38,153 |
|
|
$ |
63,704 |
|
|
|
|
|
| (1) For the period
April 28, 2023 (commencement of operations) to December 31, 2023. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Mac VIP
for Inc,
Serv Cl |
|
|
Mac VIP
Intl Core Eq,
Serv Cl(1) |
|
|
MFS
Gbl Real Est,
Serv Cl |
|
|
MFS
Intl Gro,
Serv Cl |
|
|
MFS Mass
Inv Gro Stock,
Serv Cl |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
8,286 |
|
|
$ |
1,734 |
|
|
$ |
2,117 |
|
|
$ |
1,535 |
|
|
$ |
4,477 |
|
| Variable account expenses |
|
|
1,152 |
|
|
|
923 |
|
|
|
1,391 |
|
|
|
2,050 |
|
|
|
33,319 |
|
| Investment income (loss) — net |
|
|
7,134 |
|
|
|
811 |
|
|
|
726 |
|
|
|
(515 |
) |
|
|
(28,842 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,337 |
|
|
|
4,396 |
|
|
|
10,550 |
|
|
|
7,805 |
|
|
|
579,259 |
|
| Cost of investments sold |
|
|
1,297 |
|
|
|
4,460 |
|
|
|
10,561 |
|
|
|
6,770 |
|
|
|
478,775 |
|
| Net realized gain (loss) on sales of investments |
|
|
40 |
|
|
|
(64 |
) |
|
|
(11 |
) |
|
|
1,035 |
|
|
|
100,484 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
314 |
|
|
|
— |
|
|
|
603 |
|
|
|
311,480 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(1,213 |
) |
|
|
(3,018 |
) |
|
|
(5,913 |
) |
|
|
9,714 |
|
|
|
116,946 |
|
| Net gain (loss) on investments |
|
|
(1,173 |
) |
|
|
(2,768 |
) |
|
|
(5,924 |
) |
|
|
11,352 |
|
|
|
528,910 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
5,961 |
|
|
$ |
(1,957 |
) |
|
$ |
(5,198 |
) |
|
$ |
10,837 |
|
|
$ |
500,068 |
|
|
|
|
|
| (1) For the period
April 26, 2024 (commencement of operations) to December 31, 2024. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
MFS
New Dis,
Serv Cl |
|
|
MFS
Research Intl,
Serv Cl |
|
|
MFS
Utilities,
Serv Cl |
|
|
MS
VIF Dis,
Cl II |
|
|
NB AMT
Sus Eq,
Cl S |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
1,166 |
|
|
$ |
120,646 |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
12,663 |
|
|
|
694 |
|
|
|
60,632 |
|
|
|
46,441 |
|
|
|
15,345 |
|
| Investment income (loss) — net |
|
|
(12,663 |
) |
|
|
472 |
|
|
|
60,014 |
|
|
|
(46,441 |
) |
|
|
(15,345 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
242,061 |
|
|
|
2,070 |
|
|
|
1,439,512 |
|
|
|
1,018,507 |
|
|
|
295,571 |
|
| Cost of investments sold |
|
|
324,595 |
|
|
|
1,909 |
|
|
|
1,440,920 |
|
|
|
1,702,210 |
|
|
|
204,578 |
|
| Net realized gain (loss) on sales of investments |
|
|
(82,534 |
) |
|
|
161 |
|
|
|
(1,408 |
) |
|
|
(683,703 |
) |
|
|
90,993 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
167,976 |
|
|
|
— |
|
|
|
67,361 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
171,665 |
|
|
|
29 |
|
|
|
320,866 |
|
|
|
2,311,832 |
|
|
|
160,656 |
|
| Net gain (loss) on investments |
|
|
89,131 |
|
|
|
190 |
|
|
|
487,434 |
|
|
|
1,628,129 |
|
|
|
319,010 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
76,468 |
|
|
$ |
662 |
|
|
$ |
547,448 |
|
|
$ |
1,581,688 |
|
|
$ |
303,665 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 36 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
PIMCO VIT
All Asset,
Advisor Cl |
|
|
PIMCO VIT
Glb Man
As Alloc,
Adv Cl |
|
|
PIMCO VIT
Tot Return,
Advisor Cl |
|
|
Put VT
Global Hlth
Care,
Cl IB |
|
|
Put VT
Intl Eq,
Cl IB |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
179,548 |
|
|
$ |
9,347 |
|
|
$ |
301,578 |
|
|
$ |
6,814 |
|
|
$ |
9,933 |
|
| Variable account expenses |
|
|
28,179 |
|
|
|
2,932 |
|
|
|
79,848 |
|
|
|
13,408 |
|
|
|
3,648 |
|
| Investment income (loss) — net |
|
|
151,369 |
|
|
|
6,415 |
|
|
|
221,730 |
|
|
|
(6,594 |
) |
|
|
6,285 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
759,694 |
|
|
|
38,058 |
|
|
|
961,798 |
|
|
|
264,467 |
|
|
|
85,201 |
|
| Cost of investments sold |
|
|
855,408 |
|
|
|
43,635 |
|
|
|
1,083,590 |
|
|
|
235,652 |
|
|
|
71,217 |
|
| Net realized gain (loss) on sales of investments |
|
|
(95,714 |
) |
|
|
(5,577 |
) |
|
|
(121,792 |
) |
|
|
28,815 |
|
|
|
13,984 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
62,756 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
20,740 |
|
|
|
24,152 |
|
|
|
(6,105 |
) |
|
|
(76,328 |
) |
|
|
(7,874 |
) |
| Net gain (loss) on investments |
|
|
(74,974 |
) |
|
|
18,575 |
|
|
|
(127,897 |
) |
|
|
15,243 |
|
|
|
6,110 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
76,395 |
|
|
$ |
24,990 |
|
|
$ |
93,833 |
|
|
$ |
8,649 |
|
|
$ |
12,395 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Put VT
Intl Val,
Cl IB |
|
|
Put VT
Lg Cap Val,
Cl IB |
|
|
Put VT
Sus Fut,
Cl IB |
|
|
Put VT
Sus Leaders,
Cl IA |
|
|
Put VT
Sus Leaders,
Cl IB |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
1,847 |
|
|
$ |
8,627 |
|
|
$ |
— |
|
|
$ |
28,364 |
|
|
$ |
1,548 |
|
| Variable account expenses |
|
|
1,084 |
|
|
|
11,539 |
|
|
|
153 |
|
|
|
94,053 |
|
|
|
6,588 |
|
| Investment income (loss) — net |
|
|
763 |
|
|
|
(2,912 |
) |
|
|
(153 |
) |
|
|
(65,689 |
) |
|
|
(5,040 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
1,833 |
|
|
|
32,126 |
|
|
|
745 |
|
|
|
719,820 |
|
|
|
364,204 |
|
| Cost of investments sold |
|
|
1,742 |
|
|
|
28,560 |
|
|
|
591 |
|
|
|
490,456 |
|
|
|
276,912 |
|
| Net realized gain (loss) on sales of investments |
|
|
91 |
|
|
|
3,566 |
|
|
|
154 |
|
|
|
229,364 |
|
|
|
87,292 |
|
| Distributions from capital gains |
|
|
218 |
|
|
|
35,114 |
|
|
|
— |
|
|
|
46,745 |
|
|
|
5,018 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(1,175 |
) |
|
|
91,875 |
|
|
|
798 |
|
|
|
1,214,224 |
|
|
|
73,982 |
|
| Net gain (loss) on investments |
|
|
(866 |
) |
|
|
130,555 |
|
|
|
952 |
|
|
|
1,490,333 |
|
|
|
166,292 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
(103 |
) |
|
$ |
127,643 |
|
|
$ |
799 |
|
|
$ |
1,424,644 |
|
|
$ |
161,252 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Royce
Micro-Cap,
Invest Cl |
|
|
Temp
Global Bond,
Cl 2 |
|
|
Third Ave
VST Third
Ave Value |
|
|
VanEck VIP
Global Gold,
Cl S |
|
|
VP
Aggr,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
13,688 |
|
|
$ |
33,492 |
|
|
$ |
— |
|
| Variable account expenses |
|
|
3,032 |
|
|
|
12,836 |
|
|
|
4,903 |
|
|
|
11,635 |
|
|
|
410,733 |
|
| Investment income (loss) — net |
|
|
(3,032 |
) |
|
|
(12,836 |
) |
|
|
8,785 |
|
|
|
21,857 |
|
|
|
(410,733 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
17,690 |
|
|
|
148,604 |
|
|
|
26,908 |
|
|
|
150,305 |
|
|
|
9,813,073 |
|
| Cost of investments sold |
|
|
17,486 |
|
|
|
184,947 |
|
|
|
19,511 |
|
|
|
132,847 |
|
|
|
6,130,361 |
|
| Net realized gain (loss) on sales of investments |
|
|
204 |
|
|
|
(36,343 |
) |
|
|
7,397 |
|
|
|
17,458 |
|
|
|
3,682,712 |
|
| Distributions from capital gains |
|
|
23,209 |
|
|
|
— |
|
|
|
41,858 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
19,099 |
|
|
|
(107,158 |
) |
|
|
(73,406 |
) |
|
|
94,579 |
|
|
|
1,183,088 |
|
| Net gain (loss) on investments |
|
|
42,512 |
|
|
|
(143,501 |
) |
|
|
(24,151 |
) |
|
|
112,037 |
|
|
|
4,865,800 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
39,480 |
|
|
$ |
(156,337 |
) |
|
$ |
(15,366 |
) |
|
$ |
133,894 |
|
|
$ |
4,455,067 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
37 |
|
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP
Aggr,
Cl 4 |
|
|
VP
Conserv,
Cl 2 |
|
|
VP
Conserv,
Cl 4 |
|
|
VP Man
Risk,
Cl 2 |
|
|
VP Man
Risk US,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
346,535 |
|
|
|
254,353 |
|
|
|
209,412 |
|
|
|
94,220 |
|
|
|
325,800 |
|
| Investment income (loss) — net |
|
|
(346,535 |
) |
|
|
(254,353 |
) |
|
|
(209,412 |
) |
|
|
(94,220 |
) |
|
|
(325,800 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
5,105,179 |
|
|
|
6,278,395 |
|
|
|
3,991,573 |
|
|
|
872,475 |
|
|
|
4,852,179 |
|
| Cost of investments sold |
|
|
2,251,081 |
|
|
|
5,522,168 |
|
|
|
3,328,364 |
|
|
|
709,881 |
|
|
|
4,010,190 |
|
| Net realized gain (loss) on sales of investments |
|
|
2,854,098 |
|
|
|
756,227 |
|
|
|
663,209 |
|
|
|
162,594 |
|
|
|
841,989 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
1,739,225 |
|
|
|
314,206 |
|
|
|
264,107 |
|
|
|
685,254 |
|
|
|
2,680,641 |
|
| Net gain (loss) on investments |
|
|
4,593,323 |
|
|
|
1,070,433 |
|
|
|
927,316 |
|
|
|
847,848 |
|
|
|
3,522,630 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
4,246,788 |
|
|
$ |
816,080 |
|
|
$ |
717,904 |
|
|
$ |
753,628 |
|
|
$ |
3,196,830 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Man
Vol Conserv,
Cl 2 |
|
|
VP Man
Vol Conserv Gro,
Cl 2 |
|
|
VP Man
Vol Gro,
Cl 2 |
|
|
VP Man
Vol Mod Gro,
Cl 2 |
|
|
VP
Mod,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
388,399 |
|
|
|
766,332 |
|
|
|
6,024,610 |
|
|
|
8,506,627 |
|
|
|
4,272,614 |
|
| Investment income (loss) — net |
|
|
(388,399 |
) |
|
|
(766,332 |
) |
|
|
(6,024,610 |
) |
|
|
(8,506,627 |
) |
|
|
(4,272,614 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
15,485,056 |
|
|
|
15,039,508 |
|
|
|
81,653,995 |
|
|
|
130,481,555 |
|
|
|
55,241,828 |
|
| Cost of investments sold |
|
|
13,897,100 |
|
|
|
12,369,558 |
|
|
|
54,739,755 |
|
|
|
89,571,325 |
|
|
|
36,110,741 |
|
| Net realized gain (loss) on sales of investments |
|
|
1,587,956 |
|
|
|
2,669,950 |
|
|
|
26,914,240 |
|
|
|
40,910,230 |
|
|
|
19,131,087 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
370,626 |
|
|
|
2,114,247 |
|
|
|
41,347,170 |
|
|
|
34,097,052 |
|
|
|
15,413,372 |
|
| Net gain (loss) on investments |
|
|
1,958,582 |
|
|
|
4,784,197 |
|
|
|
68,261,410 |
|
|
|
75,007,282 |
|
|
|
34,544,459 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
1,570,183 |
|
|
$ |
4,017,865 |
|
|
$ |
62,236,800 |
|
|
$ |
66,500,655 |
|
|
$ |
30,271,845 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Mod,
Cl 4 |
|
|
VP Mod
Aggr,
Cl 2 |
|
|
VP Mod
Aggr,
Cl 4 |
|
|
VP Mod
Conserv,
Cl 2 |
|
|
VP Mod
Conserv,
Cl 4 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
3,027,392 |
|
|
|
1,558,960 |
|
|
|
848,570 |
|
|
|
651,468 |
|
|
|
491,958 |
|
| Investment income (loss) — net |
|
|
(3,027,392 |
) |
|
|
(1,558,960 |
) |
|
|
(848,570 |
) |
|
|
(651,468 |
) |
|
|
(491,958 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
48,221,776 |
|
|
|
30,051,728 |
|
|
|
17,742,297 |
|
|
|
14,887,973 |
|
|
|
9,414,968 |
|
| Cost of investments sold |
|
|
24,549,129 |
|
|
|
18,616,199 |
|
|
|
8,276,350 |
|
|
|
11,312,117 |
|
|
|
5,890,249 |
|
| Net realized gain (loss) on sales of investments |
|
|
23,672,647 |
|
|
|
11,435,529 |
|
|
|
9,465,947 |
|
|
|
3,575,856 |
|
|
|
3,524,719 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
3,017,712 |
|
|
|
4,554,860 |
|
|
|
37,205 |
|
|
|
302,845 |
|
|
|
(330,217 |
) |
| Net gain (loss) on investments |
|
|
26,690,359 |
|
|
|
15,990,389 |
|
|
|
9,503,152 |
|
|
|
3,878,701 |
|
|
|
3,194,502 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
23,662,967 |
|
|
$ |
14,431,429 |
|
|
$ |
8,654,582 |
|
|
$ |
3,227,233 |
|
|
$ |
2,702,544 |
|
See accompanying notes to financial statements.
|
|
|
|
|
| 38 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Ptnrs
Core Bond,
Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 3 |
|
|
VP Ptnrs
Intl Core Eq,
Cl 2 |
|
|
VP Ptnrs
Intl Gro,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
51,525 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,530 |
|
|
$ |
10,996 |
|
| Variable account expenses |
|
|
16,009 |
|
|
|
8,102 |
|
|
|
12,144 |
|
|
|
17,033 |
|
|
|
26,430 |
|
| Investment income (loss) — net |
|
|
35,516 |
|
|
|
(8,102 |
) |
|
|
(12,144 |
) |
|
|
(1,503 |
) |
|
|
(15,434 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
99,526 |
|
|
|
338,772 |
|
|
|
249,716 |
|
|
|
154,865 |
|
|
|
204,843 |
|
| Cost of investments sold |
|
|
108,702 |
|
|
|
284,361 |
|
|
|
68,073 |
|
|
|
152,439 |
|
|
|
205,922 |
|
| Net realized gain (loss) on sales of investments |
|
|
(9,176 |
) |
|
|
54,411 |
|
|
|
181,643 |
|
|
|
2,426 |
|
|
|
(1,079 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(12,514 |
) |
|
|
123,992 |
|
|
|
84,521 |
|
|
|
52,048 |
|
|
|
(45,247 |
) |
| Net gain (loss) on investments |
|
|
(21,690 |
) |
|
|
178,403 |
|
|
|
266,164 |
|
|
|
54,474 |
|
|
|
(46,326 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
13,826 |
|
|
$ |
170,301 |
|
|
$ |
254,020 |
|
|
$ |
52,971 |
|
|
$ |
(61,760 |
) |
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Ptnrs
Intl Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Gro,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 3 |
|
|
VP US Flex
Conserv Gro,
Cl 2 |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
44,396 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Variable account expenses |
|
|
18,093 |
|
|
|
19,605 |
|
|
|
9,761 |
|
|
|
23,255 |
|
|
|
257,220 |
|
| Investment income (loss) — net |
|
|
26,303 |
|
|
|
(19,605 |
) |
|
|
(9,761 |
) |
|
|
(23,255 |
) |
|
|
(257,220 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
412,176 |
|
|
|
571,318 |
|
|
|
315,603 |
|
|
|
400,010 |
|
|
|
3,109,967 |
|
| Cost of investments sold |
|
|
385,601 |
|
|
|
443,560 |
|
|
|
247,468 |
|
|
|
182,946 |
|
|
|
2,691,151 |
|
| Net realized gain (loss) on sales of investments |
|
|
26,575 |
|
|
|
127,758 |
|
|
|
68,135 |
|
|
|
217,064 |
|
|
|
418,816 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
5,676 |
|
|
|
189,519 |
|
|
|
1,593 |
|
|
|
(27,769 |
) |
|
|
1,754,089 |
|
| Net gain (loss) on investments |
|
|
32,251 |
|
|
|
317,277 |
|
|
|
69,728 |
|
|
|
189,295 |
|
|
|
2,172,905 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
58,554 |
|
|
$ |
297,672 |
|
|
$ |
59,967 |
|
|
$ |
166,040 |
|
|
$ |
1,915,685 |
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP US
Flex Gro,
Cl 2 |
|
|
VP US
Flex
Mod Gro,
Cl 2 |
|
|
Wanger
Acorn |
|
|
Wanger
Intl |
|
|
WA Var
Global
Hi Yd Bond, Cl II |
|
| Investment income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend income |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
68,949 |
|
|
$ |
31,614 |
|
| Variable account expenses |
|
|
2,639,341 |
|
|
|
1,461,483 |
|
|
|
74,812 |
|
|
|
44,892 |
|
|
|
5,419 |
|
| Investment income (loss) — net |
|
|
(2,639,341 |
) |
|
|
(1,461,483 |
) |
|
|
(74,812 |
) |
|
|
24,057 |
|
|
|
26,195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Realized and unrealized gain (loss) on investments — net |
|
| Realized gain (loss) on sales of investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
28,209,267 |
|
|
|
15,449,922 |
|
|
|
1,500,827 |
|
|
|
1,059,609 |
|
|
|
132,734 |
|
| Cost of investments sold |
|
|
20,477,345 |
|
|
|
12,094,022 |
|
|
|
2,063,646 |
|
|
|
1,312,548 |
|
|
|
149,521 |
|
| Net realized gain (loss) on sales of investments |
|
|
7,731,922 |
|
|
|
3,355,900 |
|
|
|
(562,819 |
) |
|
|
(252,939 |
) |
|
|
(16,787 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
33,043,734 |
|
|
|
14,153,068 |
|
|
|
1,684,223 |
|
|
|
(225,531 |
) |
|
|
16,928 |
|
| Net gain (loss) on investments |
|
|
40,775,656 |
|
|
|
17,508,968 |
|
|
|
1,121,404 |
|
|
|
(478,470 |
) |
|
|
141 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
$ |
38,136,315 |
|
|
$ |
16,047,485 |
|
|
$ |
1,046,592 |
|
|
$ |
(454,413 |
) |
|
$ |
26,336 |
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
39 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 |
|
AB VPS Dyn
Asset Alloc, Cl B |
|
|
AB VPS
Intl Val, Cl B |
|
|
AB VPS
Lg Cap Gro, Cl B |
|
|
AB VPS
Relative Val, Cl B |
|
|
AB VPS Sus
Gbl Thematic, Cl B |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(1,240 |
) |
|
$ |
50,530 |
|
|
$ |
(130,086 |
) |
|
$ |
17,074 |
|
|
$ |
(4,533 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(20,143 |
) |
|
|
32,105 |
|
|
|
426,687 |
|
|
|
150,550 |
|
|
|
12,664 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
536,601 |
|
|
|
169,781 |
|
|
|
1,353 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
82,517 |
|
|
|
68,081 |
|
|
|
1,598,152 |
|
|
|
214,078 |
|
|
|
1,829 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
61,134 |
|
|
|
150,716 |
|
|
|
2,431,354 |
|
|
|
551,483 |
|
|
|
11,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
19,259 |
|
|
|
68,235 |
|
|
|
1,651,767 |
|
|
|
22,224 |
|
|
|
4,297 |
|
| Net transfers(1) |
|
|
(1,011 |
) |
|
|
17,515 |
|
|
|
(528,815 |
) |
|
|
(110,453 |
) |
|
|
143,236 |
|
| Transfers for policy loans |
|
|
5,753 |
|
|
|
(2,144 |
) |
|
|
1,242 |
|
|
|
12,541 |
|
|
|
1,322 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(553 |
) |
|
|
(12,138 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(182 |
) |
|
|
(4,561 |
) |
|
|
(1,850 |
) |
|
|
(2,430 |
) |
|
|
(433 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(106,453 |
) |
|
|
(454,511 |
) |
|
|
(768,646 |
) |
|
|
(539,317 |
) |
|
|
(35,291 |
) |
| Death benefits |
|
|
— |
|
|
|
(21,461 |
) |
|
|
(52,961 |
) |
|
|
(162,979 |
) |
|
|
(3,762 |
) |
| Increase (decrease) from transactions |
|
|
(82,634 |
) |
|
|
(397,480 |
) |
|
|
288,599 |
|
|
|
(780,414 |
) |
|
|
109,369 |
|
| Net assets at beginning of year |
|
|
714,329 |
|
|
|
3,634,482 |
|
|
|
10,229,156 |
|
|
|
4,743,634 |
|
|
|
447,989 |
|
| Net assets at end of year |
|
$ |
692,829 |
|
|
$ |
3,387,718 |
|
|
$ |
12,949,109 |
|
|
$ |
4,514,703 |
|
|
$ |
568,671 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
548,802 |
|
|
|
2,181,158 |
|
|
|
1,824,422 |
|
|
|
1,281,867 |
|
|
|
148,617 |
|
| Units purchased |
|
|
17,847 |
|
|
|
60,892 |
|
|
|
470,735 |
|
|
|
20,106 |
|
|
|
46,570 |
|
| Units redeemed |
|
|
(80,276 |
) |
|
|
(284,856 |
) |
|
|
(404,641 |
) |
|
|
(206,622 |
) |
|
|
(13,530 |
) |
| Units outstanding at end of year |
|
|
486,373 |
|
|
|
1,957,194 |
|
|
|
1,890,516 |
|
|
|
1,095,351 |
|
|
|
181,657 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 40 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Allspg VT
Index Asset Alloc,
Cl 2 |
|
|
Allspg VT
Opp, Cl 2 |
|
|
Allspg VT
Sm Cap Gro, Cl 2 |
|
|
ALPS Alerian
Engy Infr, Class III |
|
|
BlackRock
Adv SMID Cap VI,
Cl III |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
11,083 |
|
|
$ |
(25,606 |
) |
|
$ |
(44,157 |
) |
|
$ |
55,651 |
|
|
$ |
1,659 |
|
| Net realized gain (loss) on sales of investments |
|
|
78,771 |
|
|
|
21,805 |
|
|
|
(104,648 |
) |
|
|
290,381 |
|
|
|
2,447 |
|
| Distributions from capital gains |
|
|
145,276 |
|
|
|
286,964 |
|
|
|
— |
|
|
|
64,109 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
77,427 |
|
|
|
84,922 |
|
|
|
871,841 |
|
|
|
353,918 |
|
|
|
28,418 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
312,557 |
|
|
|
368,085 |
|
|
|
723,036 |
|
|
|
764,059 |
|
|
|
32,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
31,317 |
|
|
|
72,393 |
|
|
|
84,383 |
|
|
|
95,301 |
|
|
|
44,012 |
|
| Net transfers(1) |
|
|
18,527 |
|
|
|
161,603 |
|
|
|
36,849 |
|
|
|
(305,628 |
) |
|
|
5,042 |
|
| Transfers for policy loans |
|
|
82 |
|
|
|
(53 |
) |
|
|
669 |
|
|
|
254 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(8,396 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,325 |
) |
|
|
(688 |
) |
|
|
(1,408 |
) |
|
|
(520 |
) |
|
|
(13 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(476,527 |
) |
|
|
(177,020 |
) |
|
|
(489,045 |
) |
|
|
(323,569 |
) |
|
|
(10,989 |
) |
| Death benefits |
|
|
— |
|
|
|
(6,216 |
) |
|
|
(41,960 |
) |
|
|
(6,011 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(427,926 |
) |
|
|
41,623 |
|
|
|
(410,512 |
) |
|
|
(540,173 |
) |
|
|
38,052 |
|
| Net assets at beginning of year |
|
|
2,385,922 |
|
|
|
2,553,302 |
|
|
|
4,170,139 |
|
|
|
2,021,816 |
|
|
|
293,185 |
|
| Net assets at end of year |
|
$ |
2,270,553 |
|
|
$ |
2,963,010 |
|
|
$ |
4,482,663 |
|
|
$ |
2,245,702 |
|
|
$ |
363,761 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
670,071 |
|
|
|
501,968 |
|
|
|
1,054,076 |
|
|
|
1,617,247 |
|
|
|
258,154 |
|
| Units purchased |
|
|
38,553 |
|
|
|
47,527 |
|
|
|
53,117 |
|
|
|
91,752 |
|
|
|
40,970 |
|
| Units redeemed |
|
|
(146,096 |
) |
|
|
(44,378 |
) |
|
|
(141,018 |
) |
|
|
(422,820 |
) |
|
|
(9,143 |
) |
| Units outstanding at end of year |
|
|
562,528 |
|
|
|
505,117 |
|
|
|
966,175 |
|
|
|
1,286,179 |
|
|
|
289,981 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
41 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
BlackRock
Global Alloc, Cl III |
|
|
BNY Mellon
Sus US Eq, Serv |
|
|
Calvert VP
SRI Bal, Cl F |
|
|
Calvert VP
SRI Bal, Cl I |
|
|
CB Var
Sm Cap Gro, Cl I |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(13,672) |
|
|
$ |
(527 |
) |
|
$ |
3,887 |
|
|
$ |
19,992 |
|
|
$ |
(4,101 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(62,653 |
) |
|
|
1,020 |
|
|
|
3,589 |
|
|
|
35,355 |
|
|
|
704 |
|
| Distributions from capital gains |
|
|
577,014 |
|
|
|
514 |
|
|
|
7,997 |
|
|
|
38,915 |
|
|
|
15,348 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(3,796 |
) |
|
|
14,670 |
|
|
|
46,604 |
|
|
|
277,110 |
|
|
|
2,390 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
496,893 |
|
|
|
15,677 |
|
|
|
62,077 |
|
|
|
371,372 |
|
|
|
14,341 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
334,178 |
|
|
|
5,948 |
|
|
|
20,171 |
|
|
|
6,032 |
|
|
|
10,979 |
|
| Net transfers(1) |
|
|
357,798 |
|
|
|
(1,825 |
) |
|
|
87,024 |
|
|
|
53,956 |
|
|
|
(25,397 |
) |
| Transfers for policy loans |
|
|
(50,888 |
) |
|
|
— |
|
|
|
— |
|
|
|
950 |
|
|
|
(4,073 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
(14,801 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,008 |
) |
|
|
— |
|
|
|
(27 |
) |
|
|
(643 |
) |
|
|
(259 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(488,508 |
) |
|
|
(2,085 |
) |
|
|
(15,346 |
) |
|
|
(78,301 |
) |
|
|
(3,493 |
) |
| Death benefits |
|
|
(21,843 |
) |
|
|
— |
|
|
|
— |
|
|
|
(2,178 |
) |
|
|
(8,616 |
) |
| Increase (decrease) from transactions |
|
|
114,928 |
|
|
|
2,038 |
|
|
|
91,822 |
|
|
|
(20,184 |
) |
|
|
(30,859 |
) |
| Net assets at beginning of year |
|
|
6,170,764 |
|
|
|
64,422 |
|
|
|
314,805 |
|
|
|
1,948,989 |
|
|
|
471,751 |
|
| Net assets at end of year |
|
$ |
6,782,585 |
|
|
$ |
82,137 |
|
|
$ |
468,704 |
|
|
$ |
2,300,177 |
|
|
$ |
455,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
3,690,319 |
|
|
|
54,649 |
|
|
|
287,754 |
|
|
|
741,769 |
|
|
|
132,735 |
|
| Units purchased |
|
|
525,626 |
|
|
|
4,858 |
|
|
|
89,024 |
|
|
|
31,854 |
|
|
|
3,423 |
|
| Units redeemed |
|
|
(410,584 |
) |
|
|
(2,722 |
) |
|
|
(12,562 |
) |
|
|
(33,854 |
) |
|
|
(12,778 |
) |
| Units outstanding at end of year |
|
|
3,805,361 |
|
|
|
56,785 |
|
|
|
364,216 |
|
|
|
739,769 |
|
|
|
123,380 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 42 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Bal, Cl 2 |
|
|
Col VP
Bal, Cl 3 |
|
|
Col VP
Commodity Strategy,
Cl 2 |
|
|
Col VP
Contrarian Core,
Cl 2 |
|
|
Col VP
Disciplined Core,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(171,301 |
) |
|
$ |
(567,114 |
) |
|
$ |
14,425 |
|
|
$ |
(72,886 |
) |
|
$ |
(36,172 |
) |
| Net realized gain (loss) on sales of investments |
|
|
165,929 |
|
|
|
3,111,475 |
|
|
|
(41,213 |
) |
|
|
646,005 |
|
|
|
349,662 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
1,835,029 |
|
|
|
3,931,282 |
|
|
|
62,300 |
|
|
|
726,406 |
|
|
|
389,132 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
1,829,657 |
|
|
|
6,475,643 |
|
|
|
35,512 |
|
|
|
1,299,525 |
|
|
|
702,622 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
4,471,861 |
|
|
|
610,992 |
|
|
|
31,031 |
|
|
|
648,337 |
|
|
|
133,028 |
|
| Net transfers(1) |
|
|
83,492 |
|
|
|
2,032,130 |
|
|
|
(13,549 |
) |
|
|
72,438 |
|
|
|
81,339 |
|
| Transfers for policy loans |
|
|
(7,805 |
) |
|
|
(31,856 |
) |
|
|
— |
|
|
|
(15,006 |
) |
|
|
1,849 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(21,749 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(42,055 |
) |
|
|
(12,899 |
) |
|
|
(146 |
) |
|
|
(678 |
) |
|
|
(2,067 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(551,740 |
) |
|
|
(5,298,819 |
) |
|
|
(88,431 |
) |
|
|
(710,994 |
) |
|
|
(363,537 |
) |
| Death benefits |
|
|
(167,715 |
) |
|
|
(844,754 |
) |
|
|
— |
|
|
|
(213,033 |
) |
|
|
(29,950 |
) |
| Increase (decrease) from transactions |
|
|
3,786,038 |
|
|
|
(3,566,955 |
) |
|
|
(71,095 |
) |
|
|
(218,936 |
) |
|
|
(179,338 |
) |
| Net assets at beginning of year |
|
|
12,875,516 |
|
|
|
49,684,729 |
|
|
|
658,204 |
|
|
|
6,034,466 |
|
|
|
3,181,537 |
|
| Net assets at end of year |
|
$ |
18,491,211 |
|
|
$ |
52,593,417 |
|
|
$ |
622,621 |
|
|
$ |
7,115,055 |
|
|
$ |
3,704,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
12,308,097 |
|
|
|
16,441,526 |
|
|
|
870,342 |
|
|
|
1,860,137 |
|
|
|
678,151 |
|
| Units purchased |
|
|
4,020,375 |
|
|
|
1,160,799 |
|
|
|
76,196 |
|
|
|
261,255 |
|
|
|
107,115 |
|
| Units redeemed |
|
|
(691,497 |
) |
|
|
(2,201,659 |
) |
|
|
(169,941 |
) |
|
|
(323,381 |
) |
|
|
(148,368 |
) |
| Units outstanding at end of year |
|
|
15,636,975 |
|
|
|
15,400,666 |
|
|
|
776,597 |
|
|
|
1,798,011 |
|
|
|
636,898 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
43 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Disciplined Core,
Cl 3 |
|
|
Col VP
Divd Opp, Cl 2 |
|
|
Col VP
Divd Opp, Cl 3 |
|
|
Col VP
Emerg Mkts Bond,
Cl 2 |
|
|
Col VP
Emer Mkts, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(217,376 |
) |
|
$ |
(71,952 |
) |
|
$ |
(208,264 |
) |
|
$ |
40,353 |
|
|
$ |
(354 |
) |
| Net realized gain (loss) on sales of investments |
|
|
1,390,912 |
|
|
|
287,121 |
|
|
|
1,589,009 |
|
|
|
(33,623 |
) |
|
|
(172,753 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
3,077,812 |
|
|
|
598,487 |
|
|
|
1,372,666 |
|
|
|
45,171 |
|
|
|
285,176 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
4,251,348 |
|
|
|
813,656 |
|
|
|
2,753,411 |
|
|
|
51,901 |
|
|
|
112,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
95,493 |
|
|
|
790,027 |
|
|
|
202,767 |
|
|
|
7,919 |
|
|
|
112,632 |
|
| Net transfers(1) |
|
|
(153,041 |
) |
|
|
196,190 |
|
|
|
371,403 |
|
|
|
(60,384 |
) |
|
|
(21,589 |
) |
| Transfers for policy loans |
|
|
(2,455 |
) |
|
|
599 |
|
|
|
12,219 |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
(20,021 |
) |
|
|
— |
|
|
|
(11,604 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(13,263 |
) |
|
|
(7,957 |
) |
|
|
(11,795 |
) |
|
|
(61 |
) |
|
|
(3,284 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(1,330,985 |
) |
|
|
(640,061 |
) |
|
|
(1,633,362 |
) |
|
|
(76,712 |
) |
|
|
(193,760 |
) |
| Death benefits |
|
|
(148,352 |
) |
|
|
(38,072 |
) |
|
|
(422,983 |
) |
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(1,572,624 |
) |
|
|
300,726 |
|
|
|
(1,493,355 |
) |
|
|
(129,238 |
) |
|
|
(106,001 |
) |
| Net assets at beginning of year |
|
|
17,906,251 |
|
|
|
5,830,278 |
|
|
|
19,916,112 |
|
|
|
1,084,456 |
|
|
|
2,565,820 |
|
| Net assets at end of year |
|
$ |
20,584,975 |
|
|
$ |
6,944,660 |
|
|
$ |
21,176,168 |
|
|
$ |
1,007,119 |
|
|
$ |
2,571,888 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
4,412,270 |
|
|
|
1,943,382 |
|
|
|
5,005,618 |
|
|
|
1,068,129 |
|
|
|
2,046,111 |
|
| Units purchased |
|
|
25,908 |
|
|
|
374,923 |
|
|
|
160,878 |
|
|
|
43,688 |
|
|
|
105,700 |
|
| Units redeemed |
|
|
(359,247 |
) |
|
|
(280,642 |
) |
|
|
(484,165 |
) |
|
|
(168,831 |
) |
|
|
(188,171 |
) |
| Units outstanding at end of year |
|
|
4,078,931 |
|
|
|
2,037,663 |
|
|
|
4,682,331 |
|
|
|
942,986 |
|
|
|
1,963,640 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 44 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Emer Mkts, Cl 3 |
|
|
Col VP Global
Strategic Inc, Cl 2 |
|
|
Col VP Global
Strategic Inc, Cl 3 |
|
|
Col VP Govt
Money Mkt, Cl 2 |
|
|
Col VP Govt
Money Mkt, Cl 3 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
5,697 |
|
|
$ |
21,344 |
|
|
$ |
58,396 |
|
|
$ |
599,737 |
|
|
$ |
305,996 |
|
| Net realized gain (loss) on sales of investments |
|
|
(235,437 |
) |
|
|
(8,428 |
) |
|
|
(94,263 |
) |
|
|
1 |
|
|
|
6 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
405,952 |
|
|
|
11,648 |
|
|
|
92,201 |
|
|
|
(1 |
) |
|
|
(7 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
176,212 |
|
|
|
24,564 |
|
|
|
56,334 |
|
|
|
599,737 |
|
|
|
305,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
50,082 |
|
|
|
113,715 |
|
|
|
25,191 |
|
|
|
1,628,167 |
|
|
|
389,712 |
|
| Net transfers(1) |
|
|
7,840 |
|
|
|
47,997 |
|
|
|
192,914 |
|
|
|
(1,903,839 |
) |
|
|
1,525,090 |
|
| Transfers for policy loans |
|
|
7,187 |
|
|
|
— |
|
|
|
(190 |
) |
|
|
(27,788 |
) |
|
|
3,770 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
(1,100 |
) |
|
|
— |
|
|
|
(66 |
) |
|
|
— |
|
|
|
13,389 |
|
| Contract charges |
|
|
(4,928 |
) |
|
|
(128 |
) |
|
|
(4,992 |
) |
|
|
(5,645 |
) |
|
|
(6,207 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(412,682 |
) |
|
|
(51,821 |
) |
|
|
(191,251 |
) |
|
|
(2,254,535 |
) |
|
|
(1,102,445 |
) |
| Death benefits |
|
|
(184,998 |
) |
|
|
(7,751 |
) |
|
|
(143,928 |
) |
|
|
(139,364 |
) |
|
|
(53,548 |
) |
| Increase (decrease) from transactions |
|
|
(538,599 |
) |
|
|
102,012 |
|
|
|
(122,322 |
) |
|
|
(2,703,004 |
) |
|
|
769,761 |
|
| Net assets at beginning of year |
|
|
4,052,503 |
|
|
|
1,090,791 |
|
|
|
2,469,210 |
|
|
|
16,428,229 |
|
|
|
7,554,899 |
|
| Net assets at end of year |
|
$ |
3,690,116 |
|
|
$ |
1,217,367 |
|
|
$ |
2,403,222 |
|
|
$ |
14,324,962 |
|
|
$ |
8,630,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,651,637 |
|
|
|
1,150,482 |
|
|
|
1,623,472 |
|
|
|
16,946,114 |
|
|
|
6,988,743 |
|
| Units purchased |
|
|
47,028 |
|
|
|
166,909 |
|
|
|
135,278 |
|
|
|
5,146,890 |
|
|
|
1,760,059 |
|
| Units redeemed |
|
|
(286,606 |
) |
|
|
(62,018 |
) |
|
|
(230,445 |
) |
|
|
(7,484,441 |
) |
|
|
(1,093,727 |
) |
| Units outstanding at end of year |
|
|
1,412,059 |
|
|
|
1,255,373 |
|
|
|
1,528,305 |
|
|
|
14,608,563 |
|
|
|
7,655,075 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
45 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Hi Yield Bond,
Cl 2 |
|
|
Col VP
Hi Yield Bond,
Cl 3 |
|
|
Col VP
Inc Opp, Cl 2 |
|
|
Col VP
Inc Opp, Cl 3 |
|
|
Col VP
Inter Bond, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
232,849 |
|
|
$ |
241,156 |
|
|
$ |
165,451 |
|
|
$ |
195,777 |
|
|
$ |
233,181 |
|
| Net realized gain (loss) on sales of investments |
|
|
(22,385 |
) |
|
|
(51,478 |
) |
|
|
(78,522 |
) |
|
|
(182,322 |
) |
|
|
(99,367 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
64,073 |
|
|
|
102,489 |
|
|
|
83,610 |
|
|
|
192,171 |
|
|
|
(89,516 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
274,537 |
|
|
|
292,167 |
|
|
|
170,539 |
|
|
|
205,626 |
|
|
|
44,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
970,576 |
|
|
|
31,591 |
|
|
|
399,887 |
|
|
|
33,706 |
|
|
|
840,263 |
|
| Net transfers(1) |
|
|
231,151 |
|
|
|
51,035 |
|
|
|
(19,748 |
) |
|
|
421,952 |
|
|
|
273,479 |
|
| Transfers for policy loans |
|
|
(4,938 |
) |
|
|
754 |
|
|
|
4,760 |
|
|
|
(1,872 |
) |
|
|
9,156 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(3,228 |
) |
|
|
— |
|
|
|
(1,604 |
) |
|
|
— |
|
| Contract charges |
|
|
(2,002 |
) |
|
|
(2,213 |
) |
|
|
(991 |
) |
|
|
(6,922 |
) |
|
|
(14,884 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(373,658 |
) |
|
|
(549,390 |
) |
|
|
(377,975 |
) |
|
|
(417,435 |
) |
|
|
(332,240 |
) |
| Death benefits |
|
|
— |
|
|
|
(51,079 |
) |
|
|
(22,102 |
) |
|
|
(268,832 |
) |
|
|
(41,553 |
) |
| Increase (decrease) from transactions |
|
|
821,129 |
|
|
|
(522,530 |
) |
|
|
(16,169 |
) |
|
|
(241,007 |
) |
|
|
734,221 |
|
| Net assets at beginning of year |
|
|
4,478,505 |
|
|
|
5,298,350 |
|
|
|
3,757,141 |
|
|
|
4,263,405 |
|
|
|
6,040,721 |
|
| Net assets at end of year |
|
$ |
5,574,171 |
|
|
$ |
5,067,987 |
|
|
$ |
3,911,511 |
|
|
$ |
4,228,024 |
|
|
$ |
6,819,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
2,523,962 |
|
|
|
1,734,598 |
|
|
|
2,123,991 |
|
|
|
1,787,666 |
|
|
|
5,019,940 |
|
| Units purchased |
|
|
771,839 |
|
|
|
34,528 |
|
|
|
280,613 |
|
|
|
196,760 |
|
|
|
1,242,815 |
|
| Units redeemed |
|
|
(319,253 |
) |
|
|
(206,637 |
) |
|
|
(294,845 |
) |
|
|
(290,509 |
) |
|
|
(634,034 |
) |
| Units outstanding at end of year |
|
|
2,976,548 |
|
|
|
1,562,489 |
|
|
|
2,109,759 |
|
|
|
1,693,917 |
|
|
|
5,628,721 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 46 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Inter Bond, Cl 3 |
|
|
Col VP
Lg Cap Gro, Cl 2 |
|
|
Col VP
Lg Cap Gro, Cl 3 |
|
|
Col VP
Lg Cap Index,
Cl 2 |
|
|
Col VP
Lg Cap Index,
Cl 3 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
401,100 |
|
|
$ |
(97,177 |
) |
|
$ |
(40,680 |
) |
|
$ |
(323,023 |
) |
|
$ |
(833,501 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(266,886 |
) |
|
|
566,466 |
|
|
|
545,130 |
|
|
|
452,102 |
|
|
|
6,300,521 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(33,702 |
) |
|
|
1,827,279 |
|
|
|
716,195 |
|
|
|
5,745,357 |
|
|
|
11,563,816 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
100,512 |
|
|
|
2,296,568 |
|
|
|
1,220,645 |
|
|
|
5,874,436 |
|
|
|
17,030,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
60,981 |
|
|
|
836,728 |
|
|
|
74,306 |
|
|
|
15,870,486 |
|
|
|
3,134,760 |
|
| Net transfers(1) |
|
|
456,641 |
|
|
|
210,772 |
|
|
|
33,542 |
|
|
|
1,443,557 |
|
|
|
1,556,226 |
|
| Transfers for policy loans |
|
|
7,212 |
|
|
|
67 |
|
|
|
(2,978 |
) |
|
|
(92,814 |
) |
|
|
(10,893 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
(4,196 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(16,784 |
) |
|
|
(13,906 |
) |
|
|
(4,219 |
) |
|
|
(49,809 |
) |
|
|
(18,884 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(726,134 |
) |
|
|
(454,611 |
) |
|
|
(631,661 |
) |
|
|
(1,491,461 |
) |
|
|
(9,997,992 |
) |
| Death benefits |
|
|
(349,175 |
) |
|
|
(327,429 |
) |
|
|
(33,187 |
) |
|
|
(190,482 |
) |
|
|
(319,098 |
) |
| Increase (decrease) from transactions |
|
|
(571,455 |
) |
|
|
251,621 |
|
|
|
(564,197 |
) |
|
|
15,489,477 |
|
|
|
(5,655,881 |
) |
| Net assets at beginning of year |
|
|
10,923,998 |
|
|
|
7,517,940 |
|
|
|
4,309,905 |
|
|
|
20,353,028 |
|
|
|
73,880,087 |
|
| Net assets at end of year |
|
$ |
10,453,055 |
|
|
$ |
10,066,129 |
|
|
$ |
4,966,353 |
|
|
$ |
41,716,941 |
|
|
$ |
85,255,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
6,273,479 |
|
|
|
1,465,047 |
|
|
|
1,468,438 |
|
|
|
17,793,877 |
|
|
|
18,550,688 |
|
| Units purchased |
|
|
295,236 |
|
|
|
225,348 |
|
|
|
41,152 |
|
|
|
17,831,407 |
|
|
|
1,080,285 |
|
| Units redeemed |
|
|
(615,672 |
) |
|
|
(176,292 |
) |
|
|
(219,954 |
) |
|
|
(5,948,429 |
) |
|
|
(2,363,652 |
) |
| Units outstanding at end of year |
|
|
5,953,043 |
|
|
|
1,514,103 |
|
|
|
1,289,636 |
|
|
|
29,676,855 |
|
|
|
17,267,321 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
47 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Limited Duration Cr,
Cl 2 |
|
|
Col VP
Long Govt/ Cr Bond,
Cl 2 |
|
|
Col VP
Overseas Core,
Cl 2 |
|
|
Col VP
Overseas Core,
Cl 3 |
|
|
Col VP
Select Lg Cap Eq,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
91,675 |
|
|
$ |
40,786 |
|
|
$ |
37,672 |
|
|
$ |
94,261 |
|
|
$ |
(6,057 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(5,687 |
) |
|
|
(64,595 |
) |
|
|
374 |
|
|
|
26,299 |
|
|
|
5,660 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
42,653 |
|
|
|
(35,993 |
) |
|
|
(27,486 |
) |
|
|
(50,003 |
) |
|
|
99,123 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
128,641 |
|
|
|
(59,802 |
) |
|
|
10,560 |
|
|
|
70,557 |
|
|
|
98,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
283,915 |
|
|
|
174,512 |
|
|
|
617,841 |
|
|
|
23,754 |
|
|
|
458,799 |
|
| Net transfers(1) |
|
|
106,506 |
|
|
|
(287,861 |
) |
|
|
91,606 |
|
|
|
(4,605 |
) |
|
|
3,429 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
634 |
|
|
|
— |
|
|
|
1,461 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,259 |
) |
|
|
— |
|
| Contract charges |
|
|
(8,123 |
) |
|
|
(244 |
) |
|
|
(898 |
) |
|
|
(1,249 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(338,927 |
) |
|
|
(34,527 |
) |
|
|
(38,641 |
) |
|
|
(254,583 |
) |
|
|
(1,902 |
) |
| Death benefits |
|
|
(199,404 |
) |
|
|
— |
|
|
|
(13,150 |
) |
|
|
(53,933 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(156,033 |
) |
|
|
(147,486 |
) |
|
|
656,758 |
|
|
|
(291,414 |
) |
|
|
460,326 |
|
| Net assets at beginning of year |
|
|
3,846,560 |
|
|
|
1,387,529 |
|
|
|
1,091,693 |
|
|
|
2,949,760 |
|
|
|
228,051 |
|
| Net assets at end of year |
|
$ |
3,819,168 |
|
|
$ |
1,180,241 |
|
|
$ |
1,759,011 |
|
|
$ |
2,728,903 |
|
|
$ |
787,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
3,415,010 |
|
|
|
1,358,851 |
|
|
|
602,798 |
|
|
|
1,571,357 |
|
|
|
195,723 |
|
| Units purchased |
|
|
436,066 |
|
|
|
483,064 |
|
|
|
412,453 |
|
|
|
26,399 |
|
|
|
373,049 |
|
| Units redeemed |
|
|
(575,120 |
) |
|
|
(612,251 |
) |
|
|
(40,307 |
) |
|
|
(175,630 |
) |
|
|
(15,778 |
) |
| Units outstanding at end of year |
|
|
3,275,956 |
|
|
|
1,229,664 |
|
|
|
974,944 |
|
|
|
1,422,126 |
|
|
|
552,994 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 48 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Select Lg Cap Val,
Cl 2 |
|
|
Col VP
Select Lg Cap Val,
Cl 3 |
|
|
Col VP
Select Mid Cap Gro,
Cl 2 |
|
|
Col VP
Select Mid Cap Gro,
Cl 3 |
|
|
Col VP
Select Mid Cap Val,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(48,717 |
) |
|
$ |
(8,015 |
) |
|
$ |
(30,420 |
) |
|
$ |
(42,130 |
) |
|
$ |
(33,731 |
) |
| Net realized gain (loss) on sales of investments |
|
|
130,040 |
|
|
|
63,653 |
|
|
|
64,837 |
|
|
|
197,492 |
|
|
|
150,191 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
384,405 |
|
|
|
29,728 |
|
|
|
515,991 |
|
|
|
588,868 |
|
|
|
202,284 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
465,728 |
|
|
|
85,366 |
|
|
|
550,408 |
|
|
|
744,230 |
|
|
|
318,744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
420,224 |
|
|
|
10,869 |
|
|
|
262,867 |
|
|
|
91,288 |
|
|
|
125,352 |
|
| Net transfers(1) |
|
|
188,866 |
|
|
|
105,874 |
|
|
|
(31,212 |
) |
|
|
202,125 |
|
|
|
201,631 |
|
| Transfers for policy loans |
|
|
36 |
|
|
|
81 |
|
|
|
— |
|
|
|
(1,895 |
) |
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,503 |
) |
|
|
— |
|
| Contract charges |
|
|
(14,981 |
) |
|
|
(599 |
) |
|
|
(6,170 |
) |
|
|
(1,046 |
) |
|
|
(5,372 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(191,131 |
) |
|
|
(131,804 |
) |
|
|
(82,988 |
) |
|
|
(165,811 |
) |
|
|
(309,365 |
) |
| Death benefits |
|
|
(16,261 |
) |
|
|
— |
|
|
|
(35,981 |
) |
|
|
(35,551 |
) |
|
|
(12,466 |
) |
| Increase (decrease) from transactions |
|
|
386,753 |
|
|
|
(15,579 |
) |
|
|
106,516 |
|
|
|
87,607 |
|
|
|
(220 |
) |
| Net assets at beginning of year |
|
|
3,905,366 |
|
|
|
793,494 |
|
|
|
2,408,592 |
|
|
|
3,329,147 |
|
|
|
2,768,446 |
|
| Net assets at end of year |
|
$ |
4,757,847 |
|
|
$ |
863,281 |
|
|
$ |
3,065,516 |
|
|
$ |
4,160,984 |
|
|
$ |
3,086,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,238,567 |
|
|
|
224,008 |
|
|
|
731,105 |
|
|
|
973,707 |
|
|
|
793,023 |
|
| Units purchased |
|
|
370,727 |
|
|
|
41,365 |
|
|
|
74,112 |
|
|
|
81,039 |
|
|
|
106,725 |
|
| Units redeemed |
|
|
(272,450 |
) |
|
|
(47,179 |
) |
|
|
(43,054 |
) |
|
|
(71,900 |
) |
|
|
(107,060 |
) |
| Units outstanding at end of year |
|
|
1,336,844 |
|
|
|
218,194 |
|
|
|
762,163 |
|
|
|
982,846 |
|
|
|
792,688 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
49 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Select Mid Cap Val,
Cl 3 |
|
|
Col VP
Select Sm Cap Val,
Cl 2 |
|
|
Col VP
Select Sm Cap Val,
Cl 3 |
|
|
Col VP Sel
Gbl Tech, Cl 2 |
|
|
Col VP
Sm Cap Val, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(15,961 |
) |
|
$ |
(16,237 |
) |
|
$ |
(12,502 |
) |
|
$ |
(8,610 |
) |
|
$ |
(478 |
) |
| Net realized gain (loss) on sales of investments |
|
|
278,297 |
|
|
|
46,250 |
|
|
|
104,100 |
|
|
|
4,516 |
|
|
|
163 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
69,638 |
|
|
|
4,068 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(73,108 |
) |
|
|
141,804 |
|
|
|
80,094 |
|
|
|
125,356 |
|
|
|
3,739 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
189,228 |
|
|
|
171,817 |
|
|
|
171,692 |
|
|
|
190,900 |
|
|
|
7,492 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
19,630 |
|
|
|
30,735 |
|
|
|
23,548 |
|
|
|
567,702 |
|
|
|
38,188 |
|
| Net transfers(1) |
|
|
(54,400 |
) |
|
|
(33,291 |
) |
|
|
35,658 |
|
|
|
(1,833 |
) |
|
|
124,210 |
|
| Transfers for policy loans |
|
|
(5,451 |
) |
|
|
— |
|
|
|
591 |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(373 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,244 |
) |
|
|
(2,137 |
) |
|
|
(664 |
) |
|
|
(8 |
) |
|
|
(7 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(330,613 |
) |
|
|
(46,744 |
) |
|
|
(186,561 |
) |
|
|
(1,735 |
) |
|
|
(921 |
) |
| Death benefits |
|
|
(21,932 |
) |
|
|
(5,906 |
) |
|
|
(3,970 |
) |
|
|
(8,409 |
) |
|
|
(7,751 |
) |
| Increase (decrease) from transactions |
|
|
(394,010 |
) |
|
|
(57,343 |
) |
|
|
(131,771 |
) |
|
|
555,717 |
|
|
|
153,719 |
|
| Net assets at beginning of year |
|
|
1,705,627 |
|
|
|
1,392,463 |
|
|
|
1,419,055 |
|
|
|
536,914 |
|
|
|
30,030 |
|
| Net assets at end of year |
|
$ |
1,500,845 |
|
|
$ |
1,506,937 |
|
|
$ |
1,458,976 |
|
|
$ |
1,283,531 |
|
|
$ |
191,241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
460,182 |
|
|
|
511,122 |
|
|
|
378,726 |
|
|
|
435,692 |
|
|
|
24,219 |
|
| Units purchased |
|
|
7,709 |
|
|
|
116,578 |
|
|
|
16,655 |
|
|
|
411,226 |
|
|
|
131,969 |
|
| Units redeemed |
|
|
(97,772 |
) |
|
|
(134,399 |
) |
|
|
(46,020 |
) |
|
|
(13,324 |
) |
|
|
(7,323 |
) |
| Units outstanding at end of year |
|
|
370,119 |
|
|
|
493,301 |
|
|
|
349,361 |
|
|
|
833,594 |
|
|
|
148,865 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 50 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Col VP
Strategic Inc, Cl 2 |
|
|
Col VP
US Govt Mtge,
Cl 2 |
|
|
Col VP
US Govt Mtge,
Cl 3 |
|
|
CS
Commodity Return,
Cl 1 |
|
|
CTIVP
AC Div Bond, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
161,714 |
|
|
$ |
91,562 |
|
|
$ |
45,850 |
|
|
$ |
9,428 |
|
|
$ |
46,949 |
|
| Net realized gain (loss) on sales of investments |
|
|
(58,937 |
) |
|
|
(29,595 |
) |
|
|
(63,118 |
) |
|
|
(45,319 |
) |
|
|
(16,345 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
45,843 |
|
|
|
111,883 |
|
|
|
29,226 |
|
|
|
52,793 |
|
|
|
(23,989 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
148,620 |
|
|
|
173,850 |
|
|
|
11,958 |
|
|
|
16,902 |
|
|
|
6,615 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,075,923 |
|
|
|
3,767,471 |
|
|
|
18,652 |
|
|
|
16,006 |
|
|
|
16,619 |
|
| Net transfers(1) |
|
|
562,074 |
|
|
|
(2,478,160 |
) |
|
|
(14,018 |
) |
|
|
(425 |
) |
|
|
80,677 |
|
| Transfers for policy loans |
|
|
(1,283 |
) |
|
|
— |
|
|
|
1,747 |
|
|
|
(1,225 |
) |
|
|
|
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(415 |
) |
|
|
(3,794 |
) |
|
|
(1,871 |
) |
|
|
(393 |
) |
|
|
(6,742 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(346,995 |
) |
|
|
(82,732 |
) |
|
|
(271,833 |
) |
|
|
(61,359 |
) |
|
|
(24,153 |
) |
| Death benefits |
|
|
(45,154 |
) |
|
|
(3,923 |
) |
|
|
(81,434 |
) |
|
|
(3,295 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
1,244,150 |
|
|
|
1,198,862 |
|
|
|
(348,757 |
) |
|
|
(50,691 |
) |
|
|
66,401 |
|
| Net assets at beginning of year |
|
|
4,011,703 |
|
|
|
1,369,764 |
|
|
|
2,161,063 |
|
|
|
440,387 |
|
|
|
1,580,880 |
|
| Net assets at end of year |
|
$ |
5,404,473 |
|
|
$ |
2,742,476 |
|
|
$ |
1,824,264 |
|
|
$ |
406,598 |
|
|
$ |
1,653,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
3,224,170 |
|
|
|
1,364,566 |
|
|
|
1,700,722 |
|
|
|
709,269 |
|
|
|
1,399,907 |
|
| Units purchased |
|
|
1,864,752 |
|
|
|
5,367,688 |
|
|
|
20,715 |
|
|
|
41,384 |
|
|
|
118,057 |
|
| Units redeemed |
|
|
(880,730 |
) |
|
|
(4,032,118 |
) |
|
|
(292,716 |
) |
|
|
(119,072 |
) |
|
|
(60,793 |
) |
| Units outstanding at end of year |
|
|
4,208,192 |
|
|
|
2,700,136 |
|
|
|
1,428,721 |
|
|
|
631,581 |
|
|
|
1,457,171 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
51 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 |
|
CTIVP
BR Gl Infl Prot Sec,
Cl 2 |
|
|
CTIVP
BR Gl Infl Prot Sec,
Cl 3 |
|
|
CTIVP
CenterSquare Real Est,
Cl 2 |
|
|
CTIVP
MFS Val, Cl 2 |
|
|
CTIVP
Prin Blue Chip Gro,
Cl 1 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
9,514 |
|
|
$ |
23,181 |
|
|
$ |
14,838 |
|
|
$ |
(63,410 |
) |
|
$ |
(51,952 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(68,321 |
) |
|
|
(132,419 |
) |
|
|
(39,825 |
) |
|
|
256,778 |
|
|
|
619,876 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
27,634 |
|
|
|
65,001 |
|
|
|
118,128 |
|
|
|
317,182 |
|
|
|
446,057 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
(31,173 |
) |
|
|
(44,237 |
) |
|
|
93,141 |
|
|
|
510,550 |
|
|
|
1,013,981 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
25,871 |
|
|
|
23,406 |
|
|
|
41,785 |
|
|
|
1,269,610 |
|
|
|
23,530 |
|
| Net transfers(1) |
|
|
(8,923 |
) |
|
|
180,982 |
|
|
|
(60,648 |
) |
|
|
273,493 |
|
|
|
(129,349 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
446 |
|
|
|
— |
|
|
|
(674 |
) |
|
|
833 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(135 |
) |
|
|
(8,452 |
) |
|
|
(109 |
) |
|
|
(1,396 |
) |
|
|
(4,903 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(141,237 |
) |
|
|
(198,115 |
) |
|
|
(62,771 |
) |
|
|
(281,007 |
) |
|
|
(626,993 |
) |
| Death benefits |
|
|
(16,386 |
) |
|
|
(108,008 |
) |
|
|
(9,886 |
) |
|
|
(60,127 |
) |
|
|
(118,258 |
) |
| Increase (decrease) from transactions |
|
|
(140,810 |
) |
|
|
(109,741 |
) |
|
|
(91,629 |
) |
|
|
1,199,899 |
|
|
|
(855,140 |
) |
| Net assets at beginning of year |
|
|
1,431,228 |
|
|
|
2,413,499 |
|
|
|
1,131,631 |
|
|
|
4,911,732 |
|
|
|
5,252,785 |
|
| Net assets at end of year |
|
$ |
1,259,245 |
|
|
$ |
2,259,521 |
|
|
$ |
1,133,143 |
|
|
$ |
6,622,181 |
|
|
$ |
5,411,626 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,195,683 |
|
|
|
1,665,163 |
|
|
|
524,729 |
|
|
|
1,408,038 |
|
|
|
1,972,779 |
|
| Units purchased |
|
|
42,077 |
|
|
|
142,258 |
|
|
|
17,655 |
|
|
|
510,266 |
|
|
|
8,333 |
|
| Units redeemed |
|
|
(159,864 |
) |
|
|
(218,069 |
) |
|
|
(60,801 |
) |
|
|
(151,997 |
) |
|
|
(291,016 |
) |
| Units outstanding at end of year |
|
|
1,077,896 |
|
|
|
1,589,352 |
|
|
|
481,583 |
|
|
|
1,766,307 |
|
|
|
1,690,096 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 52 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
CTIVP
Prin Blue Chip Gro,
Cl 2 |
|
|
CTIVP
T Rowe Price LgCap Val,
Cl 2 |
|
|
CTIVP
TCW Core Plus Bond,
Cl 2 |
|
|
CTIVP
Vty Sycamore Estb Val,
Cl 2 |
|
|
CTIVP
Vty Sycamore Estb Val,
Cl 3 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(32,967 |
) |
|
$ |
(46,315 |
) |
|
$ |
68,237 |
|
|
$ |
(67,771 |
) |
|
$ |
(9,555 |
) |
| Net realized gain (loss) on sales of investments |
|
|
166,077 |
|
|
|
243,994 |
|
|
|
(4,974 |
) |
|
|
332,914 |
|
|
|
104,504 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
391,449 |
|
|
|
233,244 |
|
|
|
(57,283 |
) |
|
|
244,704 |
|
|
|
(16,566 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
524,559 |
|
|
|
430,923 |
|
|
|
5,980 |
|
|
|
509,847 |
|
|
|
78,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
260,984 |
|
|
|
211,088 |
|
|
|
167,724 |
|
|
|
683,860 |
|
|
|
10,100 |
|
| Net transfers(1) |
|
|
66,273 |
|
|
|
136,256 |
|
|
|
(399,690 |
) |
|
|
(424,740 |
) |
|
|
35,631 |
|
| Transfers for policy loans |
|
|
27 |
|
|
|
(934 |
) |
|
|
— |
|
|
|
(6,449 |
) |
|
|
1,237 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
97 |
|
|
|
— |
|
|
|
92 |
|
|
|
(1,517 |
) |
| Contract charges |
|
|
(1,099 |
) |
|
|
(1,300 |
) |
|
|
(6,348 |
) |
|
|
(4,021 |
) |
|
|
(730 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(190,705 |
) |
|
|
(306,927 |
) |
|
|
(37,909 |
) |
|
|
(381,226 |
) |
|
|
(205,421 |
) |
| Death benefits |
|
|
(15,277 |
) |
|
|
(401,694 |
) |
|
|
— |
|
|
|
(54,564 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
120,203 |
|
|
|
(363,414 |
) |
|
|
(276,223 |
) |
|
|
(187,048 |
) |
|
|
(160,700 |
) |
| Net assets at beginning of year |
|
|
2,611,800 |
|
|
|
4,162,716 |
|
|
|
2,224,510 |
|
|
|
6,128,825 |
|
|
|
1,055,484 |
|
| Net assets at end of year |
|
$ |
3,256,562 |
|
|
$ |
4,230,225 |
|
|
$ |
1,954,267 |
|
|
$ |
6,451,624 |
|
|
$ |
973,167 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
593,251 |
|
|
|
1,351,868 |
|
|
|
2,117,402 |
|
|
|
1,474,591 |
|
|
|
235,167 |
|
| Units purchased |
|
|
79,612 |
|
|
|
126,295 |
|
|
|
362,907 |
|
|
|
154,257 |
|
|
|
13,130 |
|
| Units redeemed |
|
|
(56,168 |
) |
|
|
(235,845 |
) |
|
|
(640,888 |
) |
|
|
(197,529 |
) |
|
|
(47,792 |
) |
| Units outstanding at end of year |
|
|
616,695 |
|
|
|
1,242,318 |
|
|
|
1,839,421 |
|
|
|
1,431,319 |
|
|
|
200,505 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
53 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
CTIVP
Westfield Mid Cap Gro,
Cl 2 |
|
|
CTIVP
Westfield Sel Lg Cp Gr,
Cl 2 |
|
|
CVT EAFE
Intl Index, Cl F |
|
|
CVT Nasdaq
100 Index, Cl F |
|
|
CVT
Russ 2000 Sm Cap Ind,
Cl F |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(13,773 |
) |
|
$ |
(13,564 |
) |
|
$ |
10,957 |
|
|
$ |
(20,145 |
) |
|
$ |
2,699 |
|
| Net realized gain (loss) on sales of investments |
|
|
98,199 |
|
|
|
32,218 |
|
|
|
2,126 |
|
|
|
36,053 |
|
|
|
6,567 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
401,689 |
|
|
|
16,194 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
112,491 |
|
|
|
277,019 |
|
|
|
(17,400 |
) |
|
|
396,603 |
|
|
|
37,442 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
196,917 |
|
|
|
295,673 |
|
|
|
(4,317 |
) |
|
|
814,200 |
|
|
|
62,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
30,551 |
|
|
|
18,800 |
|
|
|
155,293 |
|
|
|
3,476,217 |
|
|
|
267,004 |
|
| Net transfers(1) |
|
|
(51,305 |
) |
|
|
(74,499 |
) |
|
|
121,333 |
|
|
|
354,910 |
|
|
|
82,467 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
(1,363 |
) |
|
|
365 |
|
|
|
(10,377 |
) |
|
|
(1,322 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(921 |
) |
|
|
(1,111 |
) |
|
|
(27 |
) |
|
|
(2,918 |
) |
|
|
(24 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(73,715 |
) |
|
|
(100,078 |
) |
|
|
(23,187 |
) |
|
|
(128,354 |
) |
|
|
(56,208 |
) |
| Death benefits |
|
|
(12,225 |
) |
|
|
(38,729 |
) |
|
|
— |
|
|
|
(625 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(107,615 |
) |
|
|
(196,980 |
) |
|
|
253,777 |
|
|
|
3,688,853 |
|
|
|
291,917 |
|
| Net assets at beginning of year |
|
|
1,272,171 |
|
|
|
1,262,646 |
|
|
|
352,347 |
|
|
|
2,114,426 |
|
|
|
506,775 |
|
| Net assets at end of year |
|
$ |
1,361,473 |
|
|
$ |
1,361,339 |
|
|
$ |
601,807 |
|
|
$ |
6,617,479 |
|
|
$ |
861,594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
322,733 |
|
|
|
315,290 |
|
|
|
306,548 |
|
|
|
1,631,922 |
|
|
|
462,020 |
|
| Units purchased |
|
|
17,497 |
|
|
|
4,883 |
|
|
|
259,155 |
|
|
|
4,284,402 |
|
|
|
337,007 |
|
| Units redeemed |
|
|
(43,923 |
) |
|
|
(50,834 |
) |
|
|
(47,629 |
) |
|
|
(1,768,771 |
) |
|
|
(81,868 |
) |
| Units outstanding at end of year |
|
|
296,307 |
|
|
|
269,339 |
|
|
|
518,074 |
|
|
|
4,147,553 |
|
|
|
717,159 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 54 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
DWS
Alt Asset Alloc VIP,
Cl B |
|
|
EV VT
Floating-
Rate Inc, Init Cl |
|
|
Fid VIP
Contrafund, Serv Cl 2 |
|
|
Fid VIP
Emer Mkts, Serv Cl 2 |
|
|
Fid VIP
Energy, Serv Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
20,320 |
|
|
$ |
370,688 |
|
|
$ |
(492,760 |
) |
|
$ |
173 |
|
|
$ |
5,656 |
|
| Net realized gain (loss) on sales of investments |
|
|
(3,706 |
) |
|
|
(20,982 |
) |
|
|
3,311,139 |
|
|
|
478 |
|
|
|
4,538 |
|
| Distributions from capital gains |
|
|
559 |
|
|
|
— |
|
|
|
6,070,891 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
21,566 |
|
|
|
(366 |
) |
|
|
4,329,707 |
|
|
|
4,314 |
|
|
|
2,125 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
38,739 |
|
|
|
349,340 |
|
|
|
13,218,977 |
|
|
|
4,965 |
|
|
|
12,319 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
297,722 |
|
|
|
770,445 |
|
|
|
3,557,514 |
|
|
|
37,908 |
|
|
|
44,495 |
|
| Net transfers(1) |
|
|
15,336 |
|
|
|
(64,063 |
) |
|
|
1,820,025 |
|
|
|
967 |
|
|
|
17,941 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
(10,134 |
) |
|
|
(71,763 |
) |
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(509 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(113 |
) |
|
|
(6,632 |
) |
|
|
(17,037 |
) |
|
|
(7 |
) |
|
|
(13 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(47,943 |
) |
|
|
(494,895 |
) |
|
|
(7,326,192 |
) |
|
|
(573 |
) |
|
|
(6,950 |
) |
| Death benefits |
|
|
(10,977 |
) |
|
|
(69,888 |
) |
|
|
(1,179,934 |
) |
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
254,025 |
|
|
|
124,324 |
|
|
|
(3,217,387 |
) |
|
|
38,295 |
|
|
|
55,473 |
|
| Net assets at beginning of year |
|
|
838,122 |
|
|
|
5,119,367 |
|
|
|
42,053,541 |
|
|
|
46,491 |
|
|
|
425,857 |
|
| Net assets at end of year |
|
$ |
1,130,886 |
|
|
$ |
5,593,031 |
|
|
$ |
52,055,131 |
|
|
$ |
89,751 |
|
|
$ |
493,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
723,881 |
|
|
|
3,253,255 |
|
|
|
10,252,147 |
|
|
|
44,059 |
|
|
|
366,270 |
|
| Units purchased |
|
|
323,984 |
|
|
|
501,343 |
|
|
|
1,137,870 |
|
|
|
36,390 |
|
|
|
210,764 |
|
| Units redeemed |
|
|
(104,288 |
) |
|
|
(432,536 |
) |
|
|
(1,709,979 |
) |
|
|
(1,171 |
) |
|
|
(165,154 |
) |
| Units outstanding at end of year |
|
|
943,577 |
|
|
|
3,322,062 |
|
|
|
9,680,038 |
|
|
|
79,278 |
|
|
|
411,880 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
55 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Fid VIP
Gro & Inc, Serv Cl |
|
|
Fid VIP
Gro & Inc, Serv Cl 2 |
|
|
Fid VIP
Gro Opp, Serv Cl 2 |
|
|
Fid VIP
Intl Cap Appr, Serv Cl 2 |
|
|
Fid VIP
Invest Gr, Serv Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
4,375 |
|
|
$ |
28,381 |
|
|
$ |
(10,290 |
) |
|
$ |
(851 |
) |
|
$ |
45,058 |
|
| Net realized gain (loss) on sales of investments |
|
|
36,836 |
|
|
|
486,464 |
|
|
|
22,385 |
|
|
|
2,029 |
|
|
|
3,570 |
|
| Distributions from capital gains |
|
|
58,294 |
|
|
|
579,560 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
62,160 |
|
|
|
478,262 |
|
|
|
289,156 |
|
|
|
11,937 |
|
|
|
(34,750 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
161,665 |
|
|
|
1,572,667 |
|
|
|
301,251 |
|
|
|
13,115 |
|
|
|
13,878 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
3,548 |
|
|
|
369,993 |
|
|
|
262,894 |
|
|
|
132,289 |
|
|
|
703,914 |
|
| Net transfers(1) |
|
|
14,998 |
|
|
|
73,924 |
|
|
|
9,536 |
|
|
|
12,463 |
|
|
|
52,078 |
|
| Transfers for policy loans |
|
|
817 |
|
|
|
14,160 |
|
|
|
— |
|
|
|
(2,294 |
) |
|
|
(20,277 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(9,909 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(254 |
) |
|
|
(4,026 |
) |
|
|
(57 |
) |
|
|
(5 |
) |
|
|
(25 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(53,074 |
) |
|
|
(864,135 |
) |
|
|
(12,564 |
) |
|
|
(2,676 |
) |
|
|
(65,224 |
) |
| Death benefits |
|
|
(51,410 |
) |
|
|
(61,997 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(85,375 |
) |
|
|
(481,990 |
) |
|
|
259,809 |
|
|
|
139,777 |
|
|
|
670,466 |
|
| Net assets at beginning of year |
|
|
826,940 |
|
|
|
7,646,412 |
|
|
|
668,400 |
|
|
|
189,584 |
|
|
|
1,334,802 |
|
| Net assets at end of year |
|
$ |
903,230 |
|
|
$ |
8,737,089 |
|
|
$ |
1,229,460 |
|
|
$ |
342,476 |
|
|
$ |
2,019,146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
219,488 |
|
|
|
2,172,511 |
|
|
|
550,863 |
|
|
|
162,041 |
|
|
|
1,338,694 |
|
| Units purchased |
|
|
4,858 |
|
|
|
321,614 |
|
|
|
225,996 |
|
|
|
119,109 |
|
|
|
877,670 |
|
| Units redeemed |
|
|
(26,243 |
) |
|
|
(268,206 |
) |
|
|
(36,513 |
) |
|
|
(6,447 |
) |
|
|
(200,427 |
) |
| Units outstanding at end of year |
|
|
198,103 |
|
|
|
2,225,919 |
|
|
|
740,346 |
|
|
|
274,703 |
|
|
|
2,015,937 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 56 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Fid VIP
Mid Cap, Serv Cl |
|
|
Fid VIP
Mid Cap, Serv Cl 2 |
|
|
Fid VIP
Overseas, Serv Cl |
|
|
Fid VIP
Overseas, Serv Cl 2 |
|
|
Fid VIP
Strategic Inc, Serv Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(7,545 |
) |
|
$ |
(170,590 |
) |
|
$ |
1,558 |
|
|
$ |
11,055 |
|
|
$ |
270,423 |
|
| Net realized gain (loss) on sales of investments |
|
|
29,473 |
|
|
|
644,436 |
|
|
|
4,659 |
|
|
|
115,231 |
|
|
|
(51,971 |
) |
| Distributions from capital gains |
|
|
225,857 |
|
|
|
3,505,495 |
|
|
|
9,868 |
|
|
|
110,491 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
15,251 |
|
|
|
(107,317 |
) |
|
|
(7,093 |
) |
|
|
(141,253 |
) |
|
|
228,610 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
263,036 |
|
|
|
3,872,024 |
|
|
|
8,992 |
|
|
|
95,524 |
|
|
|
447,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
7,506 |
|
|
|
1,931,341 |
|
|
|
2,462 |
|
|
|
44,491 |
|
|
|
1,209,292 |
|
| Net transfers(1) |
|
|
(159 |
) |
|
|
(144,503 |
) |
|
|
1,264 |
|
|
|
208,151 |
|
|
|
699,365 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
14,582 |
|
|
|
— |
|
|
|
5,535 |
|
|
|
3,685 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(5,942 |
) |
|
|
— |
|
|
|
1,150 |
|
|
|
20,315 |
|
| Contract charges |
|
|
(441 |
) |
|
|
(11,661 |
) |
|
|
(33 |
) |
|
|
(1,153 |
) |
|
|
(3,114 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(109,835 |
) |
|
|
(3,261,452 |
) |
|
|
(13,632 |
) |
|
|
(380,589 |
) |
|
|
(597,733 |
) |
| Death benefits |
|
|
(1,974 |
) |
|
|
(171,018 |
) |
|
|
— |
|
|
|
(2,408 |
) |
|
|
(140,548 |
) |
| Increase (decrease) from transactions |
|
|
(104,903 |
) |
|
|
(1,648,653 |
) |
|
|
(9,939 |
) |
|
|
(124,823 |
) |
|
|
1,191,262 |
|
| Net assets at beginning of year |
|
|
1,625,242 |
|
|
|
24,436,367 |
|
|
|
209,014 |
|
|
|
2,332,892 |
|
|
|
9,249,799 |
|
| Net assets at end of year |
|
$ |
1,783,375 |
|
|
$ |
26,659,738 |
|
|
$ |
208,067 |
|
|
$ |
2,303,593 |
|
|
$ |
10,888,123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
261,891 |
|
|
|
4,900,868 |
|
|
|
99,668 |
|
|
|
932,303 |
|
|
|
7,687,076 |
|
| Units purchased |
|
|
1,514 |
|
|
|
719,663 |
|
|
|
1,889 |
|
|
|
99,163 |
|
|
|
1,555,861 |
|
| Units redeemed |
|
|
(16,240 |
) |
|
|
(833,329 |
) |
|
|
(6,138 |
) |
|
|
(156,106 |
) |
|
|
(628,393 |
) |
| Units outstanding at end of year |
|
|
247,165 |
|
|
|
4,787,202 |
|
|
|
95,419 |
|
|
|
875,360 |
|
|
|
8,614,544 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
57 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Frank Global
Real Est, Cl 2 |
|
|
Frank
Inc, Cl 2 |
|
|
Frank
Inc, Cl 4 |
|
|
Frank Mutual
Gbl Dis, Cl 4 |
|
|
Frank Mutual
Shares, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
19,125 |
|
|
$ |
182,133 |
|
|
$ |
29,253 |
|
|
$ |
576 |
|
|
$ |
68,726 |
|
| Net realized gain (loss) on sales of investments |
|
|
(54,744 |
) |
|
|
(33,619 |
) |
|
|
(1,054 |
) |
|
|
10 |
|
|
|
(46,716 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
18,977 |
|
|
|
3,141 |
|
|
|
4,972 |
|
|
|
151,745 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
14,657 |
|
|
|
89,395 |
|
|
|
9,912 |
|
|
|
(5,149 |
) |
|
|
597,274 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
(20,962 |
) |
|
|
256,886 |
|
|
|
41,252 |
|
|
|
409 |
|
|
|
771,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
44,029 |
|
|
|
11,727 |
|
|
|
175,128 |
|
|
|
37,105 |
|
|
|
66,816 |
|
| Net transfers(1) |
|
|
18,887 |
|
|
|
82,274 |
|
|
|
5,043 |
|
|
|
(7 |
) |
|
|
(15,559 |
) |
| Transfers for policy loans |
|
|
5,359 |
|
|
|
371 |
|
|
|
365 |
|
|
|
— |
|
|
|
10,179 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
(777 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,493 |
) |
|
|
(838 |
) |
|
|
(75 |
) |
|
|
— |
|
|
|
(3,004 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(182,931 |
) |
|
|
(445,429 |
) |
|
|
(72,646 |
) |
|
|
— |
|
|
|
(1,526,326 |
) |
| Death benefits |
|
|
(40,541 |
) |
|
|
(141,597 |
) |
|
|
— |
|
|
|
— |
|
|
|
(119,122 |
) |
| Increase (decrease) from transactions |
|
|
(157,467 |
) |
|
|
(493,492 |
) |
|
|
107,815 |
|
|
|
37,098 |
|
|
|
(1,587,016 |
) |
| Net assets at beginning of year |
|
|
2,066,562 |
|
|
|
4,573,952 |
|
|
|
715,860 |
|
|
|
31,285 |
|
|
|
7,816,731 |
|
| Net assets at end of year |
|
$ |
1,888,133 |
|
|
$ |
4,337,346 |
|
|
$ |
864,927 |
|
|
$ |
68,792 |
|
|
$ |
7,000,744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
898,252 |
|
|
|
2,931,079 |
|
|
|
688,985 |
|
|
|
25,447 |
|
|
|
3,048,196 |
|
| Units purchased |
|
|
33,328 |
|
|
|
107,537 |
|
|
|
172,800 |
|
|
|
29,929 |
|
|
|
42,844 |
|
| Units redeemed |
|
|
(110,313 |
) |
|
|
(418,965 |
) |
|
|
(75,932 |
) |
|
|
— |
|
|
|
(619,867 |
) |
| Units outstanding at end of year |
|
|
821,267 |
|
|
|
2,619,651 |
|
|
|
785,853 |
|
|
|
55,376 |
|
|
|
2,471,173 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 58 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Frank Sm
Cap Val, Cl 2 |
|
|
Frank Sm
Cap Val, Cl 4 |
|
|
GS VIT
Mid Cap Val, Inst |
|
|
GS VIT
Multi-
Strategy Alt, Advisor |
|
|
GS VIT
Multi-
Strategy Alt, Serv |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(3,966 |
) |
|
$ |
(2,730 |
) |
|
$ |
5,113 |
|
|
$ |
8,814 |
|
|
$ |
2,441 |
|
| Net realized gain (loss) on sales of investments |
|
|
(96,959 |
) |
|
|
2,198 |
|
|
|
93,871 |
|
|
|
(1,128 |
) |
|
|
— |
|
| Distributions from capital gains |
|
|
171,870 |
|
|
|
10,959 |
|
|
|
358,077 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
677,219 |
|
|
|
47,736 |
|
|
|
246,263 |
|
|
|
3,613 |
|
|
|
(394 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
748,164 |
|
|
|
58,163 |
|
|
|
703,324 |
|
|
|
11,299 |
|
|
|
2,047 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
157,028 |
|
|
|
288,472 |
|
|
|
36,998 |
|
|
|
— |
|
|
|
19,143 |
|
| Net transfers(1) |
|
|
(140,881 |
) |
|
|
40,489 |
|
|
|
(132,694 |
) |
|
|
16,368 |
|
|
|
15,378 |
|
| Transfers for policy loans |
|
|
(96 |
) |
|
|
— |
|
|
|
(18,311 |
) |
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
(1,215 |
) |
|
|
— |
|
|
|
(6,194 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(3,045 |
) |
|
|
(7 |
) |
|
|
(5,221 |
) |
|
|
(42 |
) |
|
|
(2 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(1,041,809 |
) |
|
|
(15,089 |
) |
|
|
(775,226 |
) |
|
|
(17,170 |
) |
|
|
(156 |
) |
| Death benefits |
|
|
(237,497 |
) |
|
|
— |
|
|
|
(84,070 |
) |
|
|
(11,809 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(1,267,515 |
) |
|
|
313,865 |
|
|
|
(984,718 |
) |
|
|
(12,653 |
) |
|
|
34,363 |
|
| Net assets at beginning of year |
|
|
7,578,688 |
|
|
|
408,236 |
|
|
|
6,555,625 |
|
|
|
595,281 |
|
|
|
94,830 |
|
| Net assets at end of year |
|
$ |
7,059,337 |
|
|
$ |
780,264 |
|
|
$ |
6,274,231 |
|
|
$ |
593,927 |
|
|
$ |
131,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,668,433 |
|
|
|
370,424 |
|
|
|
943,755 |
|
|
|
600,131 |
|
|
|
91,566 |
|
| Units purchased |
|
|
33,627 |
|
|
|
284,741 |
|
|
|
4,858 |
|
|
|
23,331 |
|
|
|
33,013 |
|
| Units redeemed |
|
|
(320,602 |
) |
|
|
(12,891 |
) |
|
|
(141,399 |
) |
|
|
(36,030 |
) |
|
|
(2 |
) |
| Units outstanding at end of year |
|
|
1,381,458 |
|
|
|
642,274 |
|
|
|
807,214 |
|
|
|
587,432 |
|
|
|
124,577 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
59 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
GS VIT
Sm Cap Eq Insights,
Inst |
|
|
GS VIT
Sm Cap Eq Insights,
Serv |
|
|
GS VIT
U.S. Eq Insights,
Inst |
|
|
Invesco VI
Am Fran, Ser I |
|
|
Invesco VI
Am Fran, Ser II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
139 |
|
|
$ |
(291 |
) |
|
$ |
(10,816) |
|
|
$ |
(2,179 |
) |
|
$ |
(18,384 |
) |
| Net realized gain (loss) on sales of investments |
|
|
1,087 |
|
|
|
2,091 |
|
|
|
192,951 |
|
|
|
13,500 |
|
|
|
113,173 |
|
| Distributions from capital gains |
|
|
12,785 |
|
|
|
13,201 |
|
|
|
517,762 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
11,917 |
|
|
|
9,223 |
|
|
|
223,933 |
|
|
|
64,644 |
|
|
|
482,595 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
25,928 |
|
|
|
24,224 |
|
|
|
923,830 |
|
|
|
75,965 |
|
|
|
577,384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
119 |
|
|
|
28,316 |
|
|
|
26,356 |
|
|
|
4,013 |
|
|
|
8,074 |
|
| Net transfers(1) |
|
|
— |
|
|
|
(2,398 |
) |
|
|
(146,538 |
) |
|
|
(1,004 |
) |
|
|
(117,799 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
365 |
|
|
|
— |
|
|
|
— |
|
|
|
(518 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(2,785 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(34 |
) |
|
|
(22 |
) |
|
|
(5,530 |
) |
|
|
(102 |
) |
|
|
(5,556 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(7,311 |
) |
|
|
(6,657 |
) |
|
|
(533,144 |
) |
|
|
(56,679 |
) |
|
|
(255,632 |
) |
| Death benefits |
|
|
(17,882 |
) |
|
|
— |
|
|
|
(67,521 |
) |
|
|
— |
|
|
|
(85,428 |
) |
| Increase (decrease) from transactions |
|
|
(25,108 |
) |
|
|
19,604 |
|
|
|
(729,162 |
) |
|
|
(53,772 |
) |
|
|
(456,859 |
) |
| Net assets at beginning of year |
|
|
163,587 |
|
|
|
119,190 |
|
|
|
3,692,790 |
|
|
|
252,388 |
|
|
|
1,850,566 |
|
| Net assets at end of year |
|
$ |
164,407 |
|
|
$ |
163,018 |
|
|
$ |
3,887,458 |
|
|
$ |
274,581 |
|
|
$ |
1,971,091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
38,588 |
|
|
|
105,850 |
|
|
|
966,961 |
|
|
|
67,265 |
|
|
|
512,244 |
|
| Units purchased |
|
|
27 |
|
|
|
26,290 |
|
|
|
6,278 |
|
|
|
925 |
|
|
|
1,697 |
|
| Units redeemed |
|
|
(5,782 |
) |
|
|
(8,908 |
) |
|
|
(175,930 |
) |
|
|
(13,370 |
) |
|
|
(105,154 |
) |
| Units outstanding at end of year |
|
|
32,833 |
|
|
|
123,232 |
|
|
|
797,309 |
|
|
|
54,820 |
|
|
|
408,787 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 60 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Bal Risk Alloc,
Ser II |
|
|
Invesco VI
Comstock, Ser II |
|
|
Invesco VI
Core Eq, Ser I |
|
|
Invesco VI
Core Plus Bond,
Ser II |
|
|
Invesco VI
Dis Mid Cap Gro,
Ser I |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
66,541 |
|
|
$ |
22,368 |
|
|
$ |
(33,565 |
) |
|
$ |
12,804 |
|
|
$ |
(6,179 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(24,584 |
) |
|
|
198,110 |
|
|
|
72,296 |
|
|
|
185 |
|
|
|
(2,432 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
286,209 |
|
|
|
506,569 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(11,184 |
) |
|
|
38,414 |
|
|
|
726,794 |
|
|
|
(7,733 |
) |
|
|
162,376 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
30,773 |
|
|
|
545,101 |
|
|
|
1,272,094 |
|
|
|
5,256 |
|
|
|
153,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
21,456 |
|
|
|
57,383 |
|
|
|
18,852 |
|
|
|
63,805 |
|
|
|
6,118 |
|
| Net transfers(1) |
|
|
34,922 |
|
|
|
(213,792 |
) |
|
|
(2,674 |
) |
|
|
26,094 |
|
|
|
(3,522 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
3,684 |
|
|
|
2,535 |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(4,954 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(159 |
) |
|
|
(9,165 |
) |
|
|
(1,512 |
) |
|
|
(9 |
) |
|
|
(255 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(28,594 |
) |
|
|
(413,180 |
) |
|
|
(329,714 |
) |
|
|
(1,816 |
) |
|
|
(42,458 |
) |
| Death benefits |
|
|
— |
|
|
|
(59,662 |
) |
|
|
(43,903 |
) |
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
27,625 |
|
|
|
(634,732 |
) |
|
|
(361,370 |
) |
|
|
88,074 |
|
|
|
(40,117 |
) |
| Net assets at beginning of year |
|
|
1,323,368 |
|
|
|
4,181,883 |
|
|
|
5,424,654 |
|
|
|
421,924 |
|
|
|
677,733 |
|
| Net assets at end of year |
|
$ |
1,381,766 |
|
|
$ |
4,092,252 |
|
|
$ |
6,335,378 |
|
|
$ |
515,254 |
|
|
$ |
791,381 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,040,856 |
|
|
|
1,203,667 |
|
|
|
1,102,150 |
|
|
|
426,808 |
|
|
|
495,319 |
|
| Units purchased |
|
|
106,458 |
|
|
|
19,892 |
|
|
|
3,989 |
|
|
|
88,321 |
|
|
|
3,905 |
|
| Units redeemed |
|
|
(85,826 |
) |
|
|
(183,026 |
) |
|
|
(67,818 |
) |
|
|
(1,772 |
) |
|
|
(29,921 |
) |
| Units outstanding at end of year |
|
|
1,061,488 |
|
|
|
1,040,533 |
|
|
|
1,038,321 |
|
|
|
513,357 |
|
|
|
469,303 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
61 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Dis Mid Cap Gro,
Ser II |
|
|
Invesco VI
Div Divd, Ser I |
|
|
Invesco VI
Div Divd, Ser II |
|
|
Invesco VI
EQV Intl Eq, Ser II |
|
|
Invesco VI
Global, Ser II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(3,956 |
) |
|
$ |
2,356 |
|
|
$ |
2,222 |
|
|
$ |
7,590 |
|
|
$ |
(85,035 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(19,285 |
) |
|
|
70,277 |
|
|
|
1,867 |
|
|
|
37,859 |
|
|
|
82,384 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
17,534 |
|
|
|
12,665 |
|
|
|
8,439 |
|
|
|
491,826 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
101,295 |
|
|
|
(13,700 |
) |
|
|
17,106 |
|
|
|
(45,729 |
) |
|
|
625,536 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
78,054 |
|
|
|
76,467 |
|
|
|
33,860 |
|
|
|
8,159 |
|
|
|
1,114,711 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
14,001 |
|
|
|
3,258 |
|
|
|
6,892 |
|
|
|
12,308 |
|
|
|
266,036 |
|
| Net transfers(1) |
|
|
(9,850 |
) |
|
|
(50,026 |
) |
|
|
(5,303 |
) |
|
|
(153,074 |
) |
|
|
252,165 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
59 |
|
|
|
— |
|
|
|
851 |
|
|
|
(6,805 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,974 |
) |
|
|
— |
|
| Contract charges |
|
|
(536 |
) |
|
|
(157 |
) |
|
|
(324 |
) |
|
|
(1,523 |
) |
|
|
(1,242 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(120,280 |
) |
|
|
(55,465 |
) |
|
|
(4,422 |
) |
|
|
(317,747 |
) |
|
|
(1,184,065 |
) |
| Death benefits |
|
|
(26,745 |
) |
|
|
(235,378 |
) |
|
|
— |
|
|
|
(2,680 |
) |
|
|
(100,739 |
) |
| Increase (decrease) from transactions |
|
|
(143,410 |
) |
|
|
(337,709 |
) |
|
|
(3,157 |
) |
|
|
(466,839 |
) |
|
|
(774,650 |
) |
| Net assets at beginning of year |
|
|
419,232 |
|
|
|
706,637 |
|
|
|
283,441 |
|
|
|
1,945,782 |
|
|
|
7,898,973 |
|
| Net assets at end of year |
|
$ |
353,876 |
|
|
$ |
445,395 |
|
|
$ |
314,144 |
|
|
$ |
1,487,102 |
|
|
$ |
8,239,034 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
310,605 |
|
|
|
262,589 |
|
|
|
108,578 |
|
|
|
873,036 |
|
|
|
2,315,641 |
|
| Units purchased |
|
|
9,099 |
|
|
|
3,855 |
|
|
|
3,084 |
|
|
|
10,198 |
|
|
|
157,795 |
|
| Units redeemed |
|
|
(106,192 |
) |
|
|
(121,277 |
) |
|
|
(4,215 |
) |
|
|
(206,205 |
) |
|
|
(372,811 |
) |
| Units outstanding at end of year |
|
|
213,512 |
|
|
|
145,167 |
|
|
|
107,447 |
|
|
|
677,029 |
|
|
|
2,100,625 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 62 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Gbl Strat Inc, Ser II |
|
|
Invesco VI
Hlth, Ser II |
|
|
Invesco VI
Main St, Ser II |
|
|
Invesco VI
Mn St Sm Cap, Ser
II |
|
|
Invesco VI
Tech, Ser I |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
106,148 |
|
|
$ |
(13,378 |
) |
|
$ |
(1,396 |
) |
|
$ |
(71,096 |
) |
|
$ |
(10,535 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(151,926 |
) |
|
|
10,362 |
|
|
|
(9,537 |
) |
|
|
174,972 |
|
|
|
24,734 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
13,790 |
|
|
|
247,403 |
|
|
|
49,612 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
158,401 |
|
|
|
66,445 |
|
|
|
25,578 |
|
|
|
335,589 |
|
|
|
285,410 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
112,623 |
|
|
|
63,429 |
|
|
|
28,435 |
|
|
|
686,868 |
|
|
|
349,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
85,180 |
|
|
|
16,533 |
|
|
|
2,323 |
|
|
|
547,480 |
|
|
|
9,579 |
|
| Net transfers(1) |
|
|
154,133 |
|
|
|
47,594 |
|
|
|
(1,644 |
) |
|
|
10,128 |
|
|
|
10,974 |
|
| Transfers for policy loans |
|
|
4,421 |
|
|
|
(1,067 |
) |
|
|
— |
|
|
|
649 |
|
|
|
1,389 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(3,775 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(9,017 |
) |
|
|
(575 |
) |
|
|
(80 |
) |
|
|
(991 |
) |
|
|
(1,591 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(724,663 |
) |
|
|
(221,159 |
) |
|
|
(10,194 |
) |
|
|
(510,679 |
) |
|
|
(300,627 |
) |
| Death benefits |
|
|
(136,608 |
) |
|
|
(267,895 |
) |
|
|
(36,477 |
) |
|
|
(43,115 |
) |
|
|
(37,706 |
) |
| Increase (decrease) from transactions |
|
|
(626,554 |
) |
|
|
(430,344 |
) |
|
|
(46,072 |
) |
|
|
3,472 |
|
|
|
(317,982 |
) |
| Net assets at beginning of year |
|
|
6,451,160 |
|
|
|
1,333,730 |
|
|
|
159,613 |
|
|
|
6,253,621 |
|
|
|
1,224,872 |
|
| Net assets at end of year |
|
$ |
5,937,229 |
|
|
$ |
966,815 |
|
|
$ |
141,976 |
|
|
$ |
6,943,961 |
|
|
$ |
1,256,111 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
4,314,503 |
|
|
|
418,046 |
|
|
|
90,860 |
|
|
|
1,593,749 |
|
|
|
360,542 |
|
| Units purchased |
|
|
193,120 |
|
|
|
18,977 |
|
|
|
1,167 |
|
|
|
272,366 |
|
|
|
6,616 |
|
| Units redeemed |
|
|
(611,574 |
) |
|
|
(141,683 |
) |
|
|
(25,857 |
) |
|
|
(203,497 |
) |
|
|
(91,943 |
) |
| Units outstanding at end of year |
|
|
3,896,049 |
|
|
|
295,340 |
|
|
|
66,170 |
|
|
|
1,662,618 |
|
|
|
275,215 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
63 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Invesco VI
Tech, Ser II |
|
|
Janus
Henderson VIT Bal,
Serv |
|
|
Janus
Henderson VIT Enter,
Serv |
|
|
Janus
Henderson VIT Flex Bd,
Serv |
|
|
Janus
Henderson VIT Forty,
Serv |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(8,085 |
) |
|
$ |
120,778 |
|
|
$ |
(1,181 |
) |
|
$ |
116,260 |
|
|
$ |
(13,171 |
) |
| Net realized gain (loss) on sales of investments |
|
|
91,208 |
|
|
|
391,851 |
|
|
|
4,726 |
|
|
|
(17,054 |
) |
|
|
12,303 |
|
| Distributions from capital gains |
|
|
51,541 |
|
|
|
— |
|
|
|
22,699 |
|
|
|
— |
|
|
|
15,904 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
94,804 |
|
|
|
1,938,592 |
|
|
|
41,294 |
|
|
|
(79,945 |
) |
|
|
176,211 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
229,468 |
|
|
|
2,451,221 |
|
|
|
67,538 |
|
|
|
19,261 |
|
|
|
191,247 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
485,988 |
|
|
|
1,258,162 |
|
|
|
2,200 |
|
|
|
1,482,503 |
|
|
|
2,610,177 |
|
| Net transfers(1) |
|
|
8,133 |
|
|
|
800,921 |
|
|
|
— |
|
|
|
490,537 |
|
|
|
(38,650 |
) |
| Transfers for policy loans |
|
|
365 |
|
|
|
(30,164 |
) |
|
|
— |
|
|
|
(3,308 |
) |
|
|
447 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(8 |
) |
|
|
(3,499 |
) |
|
|
(143 |
) |
|
|
(314 |
) |
|
|
(20 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(58,347 |
) |
|
|
(1,207,096 |
) |
|
|
(14,589 |
) |
|
|
(155,701 |
) |
|
|
(3,265 |
) |
| Death benefits |
|
|
— |
|
|
|
(294,878 |
) |
|
|
— |
|
|
|
(6,105 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
436,131 |
|
|
|
523,446 |
|
|
|
(12,532 |
) |
|
|
1,807,612 |
|
|
|
2,568,689 |
|
| Net assets at beginning of year |
|
|
502,057 |
|
|
|
17,021,798 |
|
|
|
472,295 |
|
|
|
2,141,245 |
|
|
|
176,475 |
|
| Net assets at end of year |
|
$ |
1,167,656 |
|
|
$ |
19,996,465 |
|
|
$ |
527,301 |
|
|
$ |
3,968,118 |
|
|
$ |
2,936,411 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
428,405 |
|
|
|
11,653,069 |
|
|
|
163,092 |
|
|
|
2,055,954 |
|
|
|
145,164 |
|
| Units purchased |
|
|
556,367 |
|
|
|
1,554,262 |
|
|
|
681 |
|
|
|
1,925,003 |
|
|
|
3,562,487 |
|
| Units redeemed |
|
|
(231,019 |
) |
|
|
(1,193,222 |
) |
|
|
(4,434 |
) |
|
|
(158,572 |
) |
|
|
(1,763,929 |
) |
| Units outstanding at end of year |
|
|
753,753 |
|
|
|
12,014,109 |
|
|
|
159,339 |
|
|
|
3,822,385 |
|
|
|
1,943,722 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 64 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Janus
Hend VIT Gbl Tech
Innov, Srv |
|
|
Janus
Henderson VIT Overseas,
Serv |
|
|
Janus
Henderson VIT Res,
Serv |
|
|
Lazard Ret
Emer Mkts Eq,
Serv |
|
|
Lazard Ret
Global Dyn MA,
Serv |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(13,132 |
) |
|
$ |
4,964 |
|
|
$ |
(34,333 |
) |
|
$ |
1,532 |
|
|
$ |
(5,763 |
) |
| Net realized gain (loss) on sales of investments |
|
|
73,444 |
|
|
|
38,242 |
|
|
|
308,140 |
|
|
|
11 |
|
|
|
11,160 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
100,282 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
326,692 |
|
|
|
11,004 |
|
|
|
580,596 |
|
|
|
(7,281 |
) |
|
|
44,422 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
387,004 |
|
|
|
54,210 |
|
|
|
954,685 |
|
|
|
(5,738 |
) |
|
|
49,819 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
151,577 |
|
|
|
50,853 |
|
|
|
46,048 |
|
|
|
77,839 |
|
|
|
75 |
|
| Net transfers(1) |
|
|
59,899 |
|
|
|
8,873 |
|
|
|
(201,340 |
) |
|
|
112,202 |
|
|
|
(705,553 |
) |
| Transfers for policy loans |
|
|
(2,865 |
) |
|
|
74 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(249 |
) |
|
|
(285 |
) |
|
|
(3,134 |
) |
|
|
— |
|
|
|
(93 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(129,759 |
) |
|
|
(90,437 |
) |
|
|
(612,612 |
) |
|
|
(240 |
) |
|
|
(28,563 |
) |
| Death benefits |
|
|
— |
|
|
|
(19,825 |
) |
|
|
(29,650 |
) |
|
|
— |
|
|
|
(418 |
) |
| Increase (decrease) from transactions |
|
|
78,603 |
|
|
|
(50,747 |
) |
|
|
(800,688 |
) |
|
|
189,801 |
|
|
|
(734,552 |
) |
| Net assets at beginning of year |
|
|
1,216,945 |
|
|
|
1,132,782 |
|
|
|
3,112,243 |
|
|
|
14,356 |
|
|
|
1,044,602 |
|
| Net assets at end of year |
|
$ |
1,682,552 |
|
|
$ |
1,136,245 |
|
|
$ |
3,266,240 |
|
|
$ |
198,419 |
|
|
$ |
359,869 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
482,242 |
|
|
|
565,673 |
|
|
|
796,952 |
|
|
|
11,226 |
|
|
|
724,434 |
|
| Units purchased |
|
|
102,749 |
|
|
|
116,182 |
|
|
|
11,096 |
|
|
|
153,335 |
|
|
|
— |
|
| Units redeemed |
|
|
(41,738 |
) |
|
|
(89,323 |
) |
|
|
(183,009 |
) |
|
|
— |
|
|
|
(497,815 |
) |
| Units outstanding at end of year |
|
|
543,253 |
|
|
|
592,532 |
|
|
|
625,039 |
|
|
|
164,561 |
|
|
|
226,619 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
65 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Lord Abt
Bond Debenture,
Cl VC |
|
|
Lord Abt
Short Dur Inc,
Cl VC |
|
|
LVIP AC
Intl,
Serv Cl |
|
|
LVIP AC
Intl,
Std Cl II |
|
|
LVIP AC
Mid Cap Val,
Serv Cl |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
43,056 |
|
|
$ |
20,862 |
|
|
$ |
3,718 |
|
|
$ |
1,156 |
|
|
$ |
35,577 |
|
| Net realized gain (loss) on sales of investments |
|
|
364 |
|
|
|
246 |
|
|
|
9,944 |
|
|
|
1,708 |
|
|
|
21,383 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
120,524 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(6,130 |
) |
|
|
335 |
|
|
|
(2,672 |
) |
|
|
389 |
|
|
|
5,569 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
37,290 |
|
|
|
21,443 |
|
|
|
10,990 |
|
|
|
3,253 |
|
|
|
183,053 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
316,979 |
|
|
|
248,381 |
|
|
|
34,199 |
|
|
|
— |
|
|
|
183,605 |
|
| Net transfers(1) |
|
|
12,901 |
|
|
|
20,339 |
|
|
|
48,651 |
|
|
|
— |
|
|
|
15,081 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
730 |
|
|
|
388 |
|
|
|
(459 |
) |
|
|
(1,199 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(199 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(25 |
) |
|
|
(50 |
) |
|
|
(227 |
) |
|
|
(29 |
) |
|
|
(1,721 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(16,044 |
) |
|
|
(15,031 |
) |
|
|
(75,744 |
) |
|
|
(7,143 |
) |
|
|
(289,404 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(36,249 |
) |
| Increase (decrease) from transactions |
|
|
313,811 |
|
|
|
254,369 |
|
|
|
7,068 |
|
|
|
(7,631 |
) |
|
|
(129,887 |
) |
| Net assets at beginning of year |
|
|
558,757 |
|
|
|
370,014 |
|
|
|
739,039 |
|
|
|
160,766 |
|
|
|
2,522,206 |
|
| Net assets at end of year |
|
$ |
909,858 |
|
|
$ |
645,826 |
|
|
$ |
757,097 |
|
|
$ |
156,388 |
|
|
$ |
2,575,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
557,629 |
|
|
|
363,337 |
|
|
|
326,423 |
|
|
|
95,497 |
|
|
|
739,467 |
|
| Units purchased |
|
|
327,620 |
|
|
|
261,333 |
|
|
|
49,439 |
|
|
|
— |
|
|
|
56,221 |
|
| Units redeemed |
|
|
(23,949 |
) |
|
|
(14,435 |
) |
|
|
(36,648 |
) |
|
|
(4,092 |
) |
|
|
(94,654 |
) |
| Units outstanding at end of year |
|
|
861,300 |
|
|
|
610,235 |
|
|
|
339,214 |
|
|
|
91,405 |
|
|
|
701,034 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 66 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
LVIP AC
Ultra, Serv Cl |
|
|
LVIP AC
Val, Serv Cl |
|
|
LVIP AC
Val,
Std Cl II |
|
|
LVIP JPM
US Eq, Serv Cl(2) |
|
|
Mac VIP
Asset Strategy, Serv Cl |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(29,038 |
) |
|
$ |
202,138 |
|
|
$ |
10,706 |
|
|
$ |
(1,367 |
) |
|
$ |
5,382 |
|
| Net realized gain (loss) on sales of investments |
|
|
218,603 |
|
|
|
621,733 |
|
|
|
6,456 |
|
|
|
5,368 |
|
|
|
1,142 |
|
| Distributions from capital gains |
|
|
250,217 |
|
|
|
758,468 |
|
|
|
29,310 |
|
|
|
8,444 |
|
|
|
23,340 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
290,233 |
|
|
|
(558,169 |
) |
|
|
(4,112 |
) |
|
|
25,708 |
|
|
|
33,840 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
730,015 |
|
|
|
1,024,170 |
|
|
|
42,360 |
|
|
|
38,153 |
|
|
|
63,704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
8,849 |
|
|
|
191,636 |
|
|
|
60 |
|
|
|
743 |
|
|
|
2,533 |
|
| Net transfers(1) |
|
|
286,354 |
|
|
|
(1,892,854 |
) |
|
|
(1,540 |
) |
|
|
(723 |
) |
|
|
6,043 |
|
| Transfers for policy loans |
|
|
(5,059 |
) |
|
|
2,020 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(2,467 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(2,130 |
) |
|
|
(3,544 |
) |
|
|
(224 |
) |
|
|
(39 |
) |
|
|
(82 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(442,622 |
) |
|
|
(1,413,411 |
) |
|
|
(15,065 |
) |
|
|
(17,026 |
) |
|
|
(32,784 |
) |
| Death benefits |
|
|
(228,016 |
) |
|
|
(22,818 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(382,624 |
) |
|
|
(3,141,438 |
) |
|
|
(16,769 |
) |
|
|
(17,045 |
) |
|
|
(24,290 |
) |
| Net assets at beginning of year |
|
|
2,825,091 |
|
|
|
13,591,683 |
|
|
|
495,836 |
|
|
|
179,554 |
|
|
|
573,972 |
|
| Net assets at end of year |
|
$ |
3,172,482 |
|
|
$ |
11,474,415 |
|
|
$ |
521,427 |
|
|
$ |
200,662 |
|
|
$ |
613,386 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
476,874 |
|
|
|
3,554,056 |
|
|
|
90,506 |
|
|
|
152,773 |
|
|
|
374,960 |
|
| Units purchased |
|
|
46,314 |
|
|
|
59,030 |
|
|
|
11 |
|
|
|
3,917 |
|
|
|
24,236 |
|
| Units redeemed |
|
|
(103,823 |
) |
|
|
(805,129 |
) |
|
|
(2,829 |
) |
|
|
(17,286 |
) |
|
|
(39,753 |
) |
| Units outstanding at end of year |
|
|
419,365 |
|
|
|
2,807,957 |
|
|
|
87,688 |
|
|
|
139,404 |
|
|
|
359,443 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
| (2) |
For the period April 28, 2023 (commencement of operations) to December 31, 2023. |
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
67 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Mac VIP
for Inc, Serv Cl |
|
|
Mac VIP
Intl Core Eq, Serv Cl(2) |
|
|
MFS
Gbl Real Est, Serv Cl |
|
|
MFS
Intl Gro, Serv Cl |
|
|
MFS Mass
Inv Gro Stock, Serv Cl |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
7,134 |
|
|
$ |
811 |
|
|
$ |
726 |
|
|
$ |
(515 |
) |
|
$ |
(28,842 |
) |
| Net realized gain (loss) on sales of investments |
|
|
40 |
|
|
|
(64 |
) |
|
|
(11 |
) |
|
|
1,035 |
|
|
|
100,484 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
314 |
|
|
|
— |
|
|
|
603 |
|
|
|
311,480 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(1,213 |
) |
|
|
(3,018 |
) |
|
|
(5,913 |
) |
|
|
9,714 |
|
|
|
116,946 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
5,961 |
|
|
|
(1,957 |
) |
|
|
(5,198 |
) |
|
|
10,837 |
|
|
|
500,068 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
17,055 |
|
|
|
1,200 |
|
|
|
18,854 |
|
|
|
107,572 |
|
|
|
21,682 |
|
| Net transfers(1) |
|
|
4,031 |
|
|
|
147,988 |
|
|
|
3,198 |
|
|
|
13,586 |
|
|
|
(83,517 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,611 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
— |
|
|
|
— |
|
|
|
(15 |
) |
|
|
(27 |
) |
|
|
(2,155 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(256 |
) |
|
|
(3,473 |
) |
|
|
(8,292 |
) |
|
|
(1,950 |
) |
|
|
(409,434 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(13,176 |
) |
| Increase (decrease) from transactions |
|
|
20,830 |
|
|
|
145,715 |
|
|
|
13,745 |
|
|
|
119,181 |
|
|
|
(488,211 |
) |
| Net assets at beginning of year |
|
|
95,660 |
|
|
|
— |
|
|
|
121,787 |
|
|
|
127,633 |
|
|
|
3,435,842 |
|
| Net assets at end of year |
|
$ |
122,451 |
|
|
$ |
143,758 |
|
|
$ |
130,334 |
|
|
$ |
257,651 |
|
|
$ |
3,447,699 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
88,631 |
|
|
|
— |
|
|
|
134,736 |
|
|
|
114,530 |
|
|
|
1,300,601 |
|
| Units purchased |
|
|
19,665 |
|
|
|
147,749 |
|
|
|
25,075 |
|
|
|
102,790 |
|
|
|
7,830 |
|
| Units redeemed |
|
|
(164 |
) |
|
|
(3,513 |
) |
|
|
(9,639 |
) |
|
|
(1,410 |
) |
|
|
(172,902 |
) |
| Units outstanding at end of year |
|
|
108,132 |
|
|
|
144,236 |
|
|
|
150,172 |
|
|
|
215,910 |
|
|
|
1,135,529 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
| (2) |
For the period April 26, 2024 (commencement of operations) to December 31, 2024. |
See accompanying notes to financial statements.
|
|
|
|
|
| 68 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
MFS
New Dis,
Serv Cl |
|
|
MFS
Research Intl, Serv Cl |
|
|
MFS
Utilities, Serv Cl |
|
|
MS
VIF Dis, Cl II |
|
|
NB AMT
Sus Eq, Cl S |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(12,663 |
) |
|
$ |
472 |
|
|
$ |
60,014 |
|
|
$ |
(46,441 |
) |
|
$ |
(15,345 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(82,534 |
) |
|
|
161 |
|
|
|
(1,408 |
) |
|
|
(683,703 |
) |
|
|
90,993 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
167,976 |
|
|
|
— |
|
|
|
67,361 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
171,665 |
|
|
|
29 |
|
|
|
320,866 |
|
|
|
2,311,832 |
|
|
|
160,656 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
76,468 |
|
|
|
662 |
|
|
|
547,448 |
|
|
|
1,581,688 |
|
|
|
303,665 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
23,258 |
|
|
|
89,771 |
|
|
|
160,279 |
|
|
|
135,007 |
|
|
|
33,287 |
|
| Net transfers(1) |
|
|
(17,378 |
) |
|
|
3,366 |
|
|
|
(192,923 |
) |
|
|
(94,266 |
) |
|
|
(19,493 |
) |
| Transfers for policy loans |
|
|
(2,987 |
) |
|
|
— |
|
|
|
1,345 |
|
|
|
485 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(658 |
) |
|
|
(5 |
) |
|
|
(1,493 |
) |
|
|
(1,407 |
) |
|
|
(235 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(182,885 |
) |
|
|
(1,300 |
) |
|
|
(682,832 |
) |
|
|
(354,316 |
) |
|
|
(235,623 |
) |
| Death benefits |
|
|
(21,713 |
) |
|
|
— |
|
|
|
(94,707 |
) |
|
|
(19,599 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(202,363 |
) |
|
|
91,832 |
|
|
|
(810,331 |
) |
|
|
(334,096 |
) |
|
|
(222,064 |
) |
| Net assets at beginning of year |
|
|
1,484,171 |
|
|
|
31,962 |
|
|
|
6,055,262 |
|
|
|
3,997,962 |
|
|
|
1,302,515 |
|
| Net assets at end of year |
|
$ |
1,358,276 |
|
|
$ |
124,456 |
|
|
$ |
5,792,379 |
|
|
$ |
5,245,554 |
|
|
$ |
1,384,116 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
410,405 |
|
|
|
28,483 |
|
|
|
1,513,312 |
|
|
|
1,076,443 |
|
|
|
338,880 |
|
| Units purchased |
|
|
6,820 |
|
|
|
85,079 |
|
|
|
116,691 |
|
|
|
79,793 |
|
|
|
14,982 |
|
| Units redeemed |
|
|
(62,435 |
) |
|
|
(1,064 |
) |
|
|
(306,468 |
) |
|
|
(139,320 |
) |
|
|
(63,879 |
) |
| Units outstanding at end of year |
|
|
354,790 |
|
|
|
112,498 |
|
|
|
1,323,535 |
|
|
|
1,016,916 |
|
|
|
289,983 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
69 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
PIMCO VIT
All Asset,
Advisor Cl |
|
|
PIMCO VIT
Glb Man
As Alloc,
Adv Cl |
|
|
PIMCO VIT
Tot Return,
Advisor Cl |
|
|
Put VT
Global Hlth
Care,
Cl IB |
|
|
Put VT
Intl Eq,
Cl IB |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
151,369 |
|
|
$ |
6,415 |
|
|
$ |
221,730 |
|
|
$ |
(6,594 |
) |
|
$ |
6,285 |
|
| Net realized gain (loss) on sales of investments |
|
|
(95,714 |
) |
|
|
(5,577 |
) |
|
|
(121,792 |
) |
|
|
28,815 |
|
|
|
13,984 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
62,756 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
20,740 |
|
|
|
24,152 |
|
|
|
(6,105 |
) |
|
|
(76,328 |
) |
|
|
(7,874 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
76,395 |
|
|
|
24,990 |
|
|
|
93,833 |
|
|
|
8,649 |
|
|
|
12,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
19,195 |
|
|
|
— |
|
|
|
612,972 |
|
|
|
142,304 |
|
|
|
6,908 |
|
| Net transfers(1) |
|
|
(38,963 |
) |
|
|
2,876 |
|
|
|
757,606 |
|
|
|
50,345 |
|
|
|
2,343 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
783 |
|
|
|
936 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(300 |
) |
| Contract charges |
|
|
(3,344 |
) |
|
|
(84 |
) |
|
|
(415 |
) |
|
|
(1,251 |
) |
|
|
(229 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(301,830 |
) |
|
|
(32,186 |
) |
|
|
(533,523 |
) |
|
|
(218,689 |
) |
|
|
(75,366 |
) |
| Death benefits |
|
|
(269,036 |
) |
|
|
— |
|
|
|
(189,135 |
) |
|
|
(18,294 |
) |
|
|
(5,172 |
) |
| Increase (decrease) from transactions |
|
|
(593,978 |
) |
|
|
(29,394 |
) |
|
|
648,288 |
|
|
|
(44,649 |
) |
|
|
(71,816 |
) |
| Net assets at beginning of year |
|
|
3,146,876 |
|
|
|
271,830 |
|
|
|
7,368,876 |
|
|
|
1,336,019 |
|
|
|
448,092 |
|
| Net assets at end of year |
|
$ |
2,629,293 |
|
|
$ |
267,426 |
|
|
$ |
8,110,997 |
|
|
$ |
1,300,019 |
|
|
$ |
388,671 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,660,613 |
|
|
|
194,103 |
|
|
|
7,250,407 |
|
|
|
389,662 |
|
|
|
201,191 |
|
| Units purchased |
|
|
28,868 |
|
|
|
2,510 |
|
|
|
1,426,951 |
|
|
|
119,240 |
|
|
|
4,136 |
|
| Units redeemed |
|
|
(342,125 |
) |
|
|
(22,842 |
) |
|
|
(815,010 |
) |
|
|
(52,619 |
) |
|
|
(34,379 |
) |
| Units outstanding at end of year |
|
|
1,347,356 |
|
|
|
173,771 |
|
|
|
7,862,348 |
|
|
|
456,283 |
|
|
|
170,948 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 70 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Put VT
Intl Val,
Cl IB |
|
|
Put VT
Lg Cap Val,
Cl IB |
|
|
Put VT
Sus Fut,
Cl IB |
|
|
Put VT
Sus Leaders,
Cl IA |
|
|
Put VT
Sus Leaders,
Cl IB |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
763 |
|
|
$ |
(2,912 |
) |
|
$ |
(153 |
) |
|
$ |
(65,689 |
) |
|
$ |
(5,040 |
) |
| Net realized gain (loss) on sales of investments |
|
|
91 |
|
|
|
3,566 |
|
|
|
154 |
|
|
|
229,364 |
|
|
|
87,292 |
|
| Distributions from capital gains |
|
|
218 |
|
|
|
35,114 |
|
|
|
— |
|
|
|
46,745 |
|
|
|
5,018 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(1,175 |
) |
|
|
91,875 |
|
|
|
798 |
|
|
|
1,214,224 |
|
|
|
73,982 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
(103 |
) |
|
|
127,643 |
|
|
|
799 |
|
|
|
1,424,644 |
|
|
|
161,252 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
102,878 |
|
|
|
412,677 |
|
|
|
11,827 |
|
|
|
13,553 |
|
|
|
7,013 |
|
| Net transfers(1) |
|
|
3,274 |
|
|
|
118,437 |
|
|
|
(419 |
) |
|
|
(136,942 |
) |
|
|
(4,311 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,656 |
|
|
|
(1,862 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(5,530 |
) |
|
|
— |
|
| Contract charges |
|
|
(10 |
) |
|
|
(51 |
) |
|
|
— |
|
|
|
(2,405 |
) |
|
|
(318 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(496 |
) |
|
|
(8,768 |
) |
|
|
— |
|
|
|
(462,800 |
) |
|
|
(348,739 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(24,630 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
105,646 |
|
|
|
522,295 |
|
|
|
11,408 |
|
|
|
(615,098 |
) |
|
|
(348,217 |
) |
| Net assets at beginning of year |
|
|
30,571 |
|
|
|
598,026 |
|
|
|
11,551 |
|
|
|
6,689,508 |
|
|
|
930,242 |
|
| Net assets at end of year |
|
$ |
136,114 |
|
|
$ |
1,247,964 |
|
|
$ |
23,758 |
|
|
$ |
7,499,054 |
|
|
$ |
743,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
24,624 |
|
|
|
519,135 |
|
|
|
9,228 |
|
|
|
1,143,239 |
|
|
|
190,257 |
|
| Units purchased |
|
|
84,733 |
|
|
|
409,177 |
|
|
|
8,753 |
|
|
|
2,678 |
|
|
|
1,231 |
|
| Units redeemed |
|
|
(249 |
) |
|
|
(7,918 |
) |
|
|
(343 |
) |
|
|
(93,444 |
) |
|
|
(66,059 |
) |
| Units outstanding at end of year |
|
|
109,108 |
|
|
|
920,394 |
|
|
|
17,638 |
|
|
|
1,052,473 |
|
|
|
125,429 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
71 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
Royce
Micro-Cap,
Invest Cl |
|
|
Temp
Global Bond,
Cl 2 |
|
|
Third Ave
VST Third
Ave Value |
|
|
VanEck VIP
Global Gold,
Cl S |
|
|
VP
Aggr,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(3,032 |
) |
|
$ |
(12,836 |
) |
|
$ |
8,785 |
|
|
$ |
21,857 |
|
|
$ |
(410,733 |
) |
| Net realized gain (loss) on sales of investments |
|
|
204 |
|
|
|
(36,343 |
) |
|
|
7,397 |
|
|
|
17,458 |
|
|
|
3,682,712 |
|
| Distributions from capital gains |
|
|
23,209 |
|
|
|
— |
|
|
|
41,858 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
19,099 |
|
|
|
(107,158 |
) |
|
|
(73,406 |
) |
|
|
94,579 |
|
|
|
1,183,088 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
39,480 |
|
|
|
(156,337 |
) |
|
|
(15,366 |
) |
|
|
133,894 |
|
|
|
4,455,067 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
2,260 |
|
|
|
5,149 |
|
|
|
60 |
|
|
|
90,755 |
|
|
|
5,143,866 |
|
| Net transfers(1) |
|
|
— |
|
|
|
54,598 |
|
|
|
403 |
|
|
|
52,194 |
|
|
|
(375,473 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,572 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(97 |
) |
|
|
(77 |
) |
|
|
(106 |
) |
|
|
(43 |
) |
|
|
(115,503 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(14,606 |
) |
|
|
(67,802 |
) |
|
|
(19,496 |
) |
|
|
(21,339 |
) |
|
|
(5,761,188 |
) |
| Death benefits |
|
|
— |
|
|
|
(17,147 |
) |
|
|
(1,418 |
) |
|
|
(58,118 |
) |
|
|
(1,037,685 |
) |
| Increase (decrease) from transactions |
|
|
(12,443 |
) |
|
|
(25,279 |
) |
|
|
(20,557 |
) |
|
|
63,449 |
|
|
|
(2,142,411 |
) |
| Net assets at beginning of year |
|
|
319,083 |
|
|
|
1,290,008 |
|
|
|
534,916 |
|
|
|
948,227 |
|
|
|
38,376,466 |
|
| Net assets at end of year |
|
$ |
346,120 |
|
|
$ |
1,108,392 |
|
|
$ |
498,993 |
|
|
$ |
1,145,570 |
|
|
$ |
40,689,122 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
64,594 |
|
|
|
1,568,939 |
|
|
|
134,019 |
|
|
|
878,964 |
|
|
|
15,685,743 |
|
| Units purchased |
|
|
424 |
|
|
|
110,603 |
|
|
|
114 |
|
|
|
133,712 |
|
|
|
2,332,029 |
|
| Units redeemed |
|
|
(2,734 |
) |
|
|
(144,172 |
) |
|
|
(4,930 |
) |
|
|
(73,524 |
) |
|
|
(3,171,680 |
) |
| Units outstanding at end of year |
|
|
62,284 |
|
|
|
1,535,370 |
|
|
|
129,203 |
|
|
|
939,152 |
|
|
|
14,846,092 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 72 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP
Aggr,
Cl 4 |
|
|
VP
Conserv,
Cl 2 |
|
|
VP
Conserv,
Cl 4 |
|
|
VP Man
Risk,
Cl 2 |
|
|
VP Man
Risk US,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(346,535 |
) |
|
$ |
(254,353 |
) |
|
$ |
(209,412 |
) |
|
$ |
(94,220 |
) |
|
$ |
(325,800 |
) |
| Net realized gain (loss) on sales of investments |
|
|
2,854,098 |
|
|
|
756,227 |
|
|
|
663,209 |
|
|
|
162,594 |
|
|
|
841,989 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
1,739,225 |
|
|
|
314,206 |
|
|
|
264,107 |
|
|
|
685,254 |
|
|
|
2,680,641 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
4,246,788 |
|
|
|
816,080 |
|
|
|
717,904 |
|
|
|
753,628 |
|
|
|
3,196,830 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
683,680 |
|
|
|
642,639 |
|
|
|
57,202 |
|
|
|
53,893 |
|
|
|
306,451 |
|
| Net transfers(1) |
|
|
518,782 |
|
|
|
94,241 |
|
|
|
576,128 |
|
|
|
(84,873 |
) |
|
|
2,383,577 |
|
| Transfers for policy loans |
|
|
(2,837 |
) |
|
|
1,902 |
|
|
|
3,981 |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(190,584 |
) |
|
|
(221,851 |
) |
|
|
(140,937 |
) |
|
|
(145,194 |
) |
|
|
(474,454 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(4,463,368 |
) |
|
|
(2,753,433 |
) |
|
|
(1,662,794 |
) |
|
|
(475,805 |
) |
|
|
(2,746,269 |
) |
| Death benefits |
|
|
(147,532 |
) |
|
|
(640,638 |
) |
|
|
(683,356 |
) |
|
|
(16,672 |
) |
|
|
(584,309 |
) |
| Increase (decrease) from transactions |
|
|
(3,601,859 |
) |
|
|
(2,877,140 |
) |
|
|
(1,849,776 |
) |
|
|
(668,651 |
) |
|
|
(1,115,004 |
) |
| Net assets at beginning of year |
|
|
36,000,457 |
|
|
|
25,119,876 |
|
|
|
20,855,447 |
|
|
|
9,266,349 |
|
|
|
31,479,853 |
|
| Net assets at end of year |
|
$ |
36,645,386 |
|
|
$ |
23,058,816 |
|
|
$ |
19,723,575 |
|
|
$ |
9,351,326 |
|
|
$ |
33,561,679 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
14,521,860 |
|
|
|
18,854,265 |
|
|
|
15,566,623 |
|
|
|
7,809,204 |
|
|
|
23,790,002 |
|
| Units purchased |
|
|
462,308 |
|
|
|
1,778,506 |
|
|
|
630,820 |
|
|
|
48,748 |
|
|
|
1,833,708 |
|
| Units redeemed |
|
|
(1,807,666 |
) |
|
|
(3,899,920 |
) |
|
|
(1,937,224 |
) |
|
|
(584,108 |
) |
|
|
(2,685,873 |
) |
| Units outstanding at end of year |
|
|
13,176,502 |
|
|
|
16,732,851 |
|
|
|
14,260,219 |
|
|
|
7,273,844 |
|
|
|
22,937,837 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
73 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Man
Vol Conserv,
Cl 2 |
|
|
VP Man
Vol Conserv Gro,
Cl 2 |
|
|
VP Man
Vol Gro,
Cl 2 |
|
|
VP Man
Vol Mod Gro,
Cl 2 |
|
|
VP
Mod,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(388,399 |
) |
|
$ |
(766,332 |
) |
|
$ |
(6,024,610 |
) |
|
$ |
(8,506,627 |
) |
|
$ |
(4,272,614 |
) |
| Net realized gain (loss) on sales of investments |
|
|
1,587,956 |
|
|
|
2,669,950 |
|
|
|
26,914,240 |
|
|
|
40,910,230 |
|
|
|
19,131,087 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
370,626 |
|
|
|
2,114,247 |
|
|
|
41,347,170 |
|
|
|
34,097,052 |
|
|
|
15,413,372 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
1,570,183 |
|
|
|
4,017,865 |
|
|
|
62,236,800 |
|
|
|
66,500,655 |
|
|
|
30,271,845 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
12,892 |
|
|
|
198,919 |
|
|
|
1,014,318 |
|
|
|
4,181,844 |
|
|
|
10,617,774 |
|
| Net transfers(1) |
|
|
(5,295,049 |
) |
|
|
2,045,604 |
|
|
|
(5,670,669 |
) |
|
|
(1,894,530 |
) |
|
|
7,198,236 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
(41,441 |
) |
|
|
2,151 |
|
|
|
20,795 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
6,672 |
|
|
|
4,667 |
|
|
|
(38,235 |
) |
| Contract charges |
|
|
(566,966 |
) |
|
|
(1,008,985 |
) |
|
|
(8,502,954 |
) |
|
|
(11,892,848 |
) |
|
|
(3,817,187 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(3,206,994 |
) |
|
|
(5,235,879 |
) |
|
|
(39,529,463 |
) |
|
|
(78,337,066 |
) |
|
|
(34,699,011 |
) |
| Death benefits |
|
|
(747,544 |
) |
|
|
(882,781 |
) |
|
|
(5,576,660 |
) |
|
|
(8,823,846 |
) |
|
|
(6,257,317 |
) |
| Increase (decrease) from transactions |
|
|
(9,803,661 |
) |
|
|
(4,883,122 |
) |
|
|
(58,300,197 |
) |
|
|
(96,759,628 |
) |
|
|
(26,974,945 |
) |
| Net assets at beginning of year |
|
|
39,367,773 |
|
|
|
74,787,741 |
|
|
|
584,260,375 |
|
|
|
828,768,870 |
|
|
|
409,453,401 |
|
| Net assets at end of year |
|
$ |
31,134,295 |
|
|
$ |
73,922,484 |
|
|
$ |
588,196,978 |
|
|
$ |
798,509,897 |
|
|
$ |
412,750,301 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
34,407,793 |
|
|
|
59,027,151 |
|
|
|
377,075,350 |
|
|
|
558,175,147 |
|
|
|
219,563,916 |
|
| Units purchased |
|
|
1,212,078 |
|
|
|
5,459,783 |
|
|
|
13,658,189 |
|
|
|
24,282,561 |
|
|
|
10,656,966 |
|
| Units redeemed |
|
|
(9,268,670 |
) |
|
|
(9,412,053 |
) |
|
|
(48,668,551 |
) |
|
|
(87,847,998 |
) |
|
|
(24,654,994 |
) |
| Units outstanding at end of year |
|
|
26,351,201 |
|
|
|
55,074,881 |
|
|
|
342,064,988 |
|
|
|
494,609,710 |
|
|
|
205,565,888 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 74 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Mod,
Cl 4 |
|
|
VP Mod
Aggr,
Cl 2 |
|
|
VP Mod
Aggr,
Cl 4 |
|
|
VP Mod
Conserv,
Cl 2 |
|
|
VP Mod
Conserv,
Cl 4 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(3,027,392 |
) |
|
$ |
(1,558,960 |
) |
|
$ |
(848,570 |
) |
|
$ |
(651,468 |
) |
|
$ |
(491,958 |
) |
| Net realized gain (loss) on sales of investments |
|
|
23,672,647 |
|
|
|
11,435,529 |
|
|
|
9,465,947 |
|
|
|
3,575,856 |
|
|
|
3,524,719 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
3,017,712 |
|
|
|
4,554,860 |
|
|
|
37,205 |
|
|
|
302,845 |
|
|
|
(330,217 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
23,662,967 |
|
|
|
14,431,429 |
|
|
|
8,654,582 |
|
|
|
3,227,233 |
|
|
|
2,702,544 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
439,223 |
|
|
|
13,111,290 |
|
|
|
1,009,224 |
|
|
|
2,031,587 |
|
|
|
60,502 |
|
| Net transfers(1) |
|
|
266,631 |
|
|
|
(6,821,795 |
) |
|
|
(3,251,172 |
) |
|
|
(1,455,355 |
) |
|
|
(1,155,045 |
) |
| Transfers for policy loans |
|
|
8,863 |
|
|
|
(42,156 |
) |
|
|
(102,504 |
) |
|
|
3,784 |
|
|
|
4,216 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(20,677 |
) |
|
|
— |
|
|
|
(39,132 |
) |
|
|
— |
|
| Contract charges |
|
|
(2,236,876 |
) |
|
|
(563,186 |
) |
|
|
(452,717 |
) |
|
|
(541,031 |
) |
|
|
(328,991 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(32,906,468 |
) |
|
|
(15,057,552 |
) |
|
|
(12,304,897 |
) |
|
|
(6,752,570 |
) |
|
|
(4,878,574 |
) |
| Death benefits |
|
|
(7,675,529 |
) |
|
|
(1,748,837 |
) |
|
|
(765,939 |
) |
|
|
(2,050,723 |
) |
|
|
(1,636,793 |
) |
| Increase (decrease) from transactions |
|
|
(42,104,156 |
) |
|
|
(11,142,913 |
) |
|
|
(15,868,005 |
) |
|
|
(8,803,440 |
) |
|
|
(7,934,685 |
) |
| Net assets at beginning of year |
|
|
320,952,269 |
|
|
|
149,960,178 |
|
|
|
90,878,217 |
|
|
|
64,998,263 |
|
|
|
53,039,228 |
|
| Net assets at end of year |
|
$ |
302,511,080 |
|
|
$ |
153,248,694 |
|
|
$ |
83,664,794 |
|
|
$ |
59,422,056 |
|
|
$ |
47,807,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
170,269,122 |
|
|
|
70,068,280 |
|
|
|
42,045,280 |
|
|
|
41,352,919 |
|
|
|
33,387,409 |
|
| Units purchased |
|
|
660,355 |
|
|
|
6,358,498 |
|
|
|
441,303 |
|
|
|
2,000,123 |
|
|
|
82,697 |
|
| Units redeemed |
|
|
(21,847,239 |
) |
|
|
(11,193,435 |
) |
|
|
(7,295,405 |
) |
|
|
(7,458,051 |
) |
|
|
(4,896,513 |
) |
| Units outstanding at end of year |
|
|
149,082,238 |
|
|
|
65,233,343 |
|
|
|
35,191,178 |
|
|
|
35,894,991 |
|
|
|
28,573,593 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
75 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Ptnrs
Core Bond,
Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 3 |
|
|
VP Ptnrs
Intl Core Eq,
Cl 2 |
|
|
VP Ptnrs
Intl Gro,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
35,516 |
|
|
$ |
(8,102 |
) |
|
$ |
(12,144 |
) |
|
$ |
(1,503 |
) |
|
$ |
(15,434 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(9,176 |
) |
|
|
54,411 |
|
|
|
181,643 |
|
|
|
2,426 |
|
|
|
(1,079 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(12,514 |
) |
|
|
123,992 |
|
|
|
84,521 |
|
|
|
52,048 |
|
|
|
(45,247 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
13,826 |
|
|
|
170,301 |
|
|
|
254,020 |
|
|
|
52,971 |
|
|
|
(61,760 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
41,008 |
|
|
|
1,749 |
|
|
|
5,123 |
|
|
|
468,608 |
|
|
|
89,521 |
|
| Net transfers(1) |
|
|
77,714 |
|
|
|
65,301 |
|
|
|
(72,569 |
) |
|
|
43,885 |
|
|
|
79,475 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
624 |
|
|
|
— |
|
|
|
54 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
66 |
|
|
|
— |
|
| Contract charges |
|
|
(5,017 |
) |
|
|
(55 |
) |
|
|
(2,865 |
) |
|
|
(979 |
) |
|
|
(1,218 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(25,834 |
) |
|
|
(16,954 |
) |
|
|
(137,632 |
) |
|
|
(52,768 |
) |
|
|
(86,022 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
(15,701 |
) |
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
87,871 |
|
|
|
50,041 |
|
|
|
(223,020 |
) |
|
|
458,812 |
|
|
|
81,810 |
|
| Net assets at beginning of year |
|
|
1,434,137 |
|
|
|
682,618 |
|
|
|
1,209,453 |
|
|
|
1,289,954 |
|
|
|
2,301,567 |
|
| Net assets at end of year |
|
$ |
1,535,834 |
|
|
$ |
902,960 |
|
|
$ |
1,240,453 |
|
|
$ |
1,801,737 |
|
|
$ |
2,321,617 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,280,491 |
|
|
|
315,874 |
|
|
|
377,495 |
|
|
|
776,617 |
|
|
|
1,305,197 |
|
| Units purchased |
|
|
117,602 |
|
|
|
210,393 |
|
|
|
1,542 |
|
|
|
325,717 |
|
|
|
109,403 |
|
| Units redeemed |
|
|
(39,778 |
) |
|
|
(202,144 |
) |
|
|
(62,156 |
) |
|
|
(46,372 |
) |
|
|
(56,683 |
) |
| Units outstanding at end of year |
|
|
1,358,315 |
|
|
|
324,123 |
|
|
|
316,881 |
|
|
|
1,055,962 |
|
|
|
1,357,917 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 76 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP Ptnrs
Intl Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Gro,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 3 |
|
|
VP US Flex
Conserv Gro,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
26,303 |
|
|
$ |
(19,605 |
) |
|
$ |
(9,761 |
) |
|
$ |
(23,255 |
) |
|
$ |
(257,220 |
) |
| Net realized gain (loss) on sales of investments |
|
|
26,575 |
|
|
|
127,758 |
|
|
|
68,135 |
|
|
|
217,064 |
|
|
|
418,816 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
5,676 |
|
|
|
189,519 |
|
|
|
1,593 |
|
|
|
(27,769 |
) |
|
|
1,754,089 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
58,554 |
|
|
|
297,672 |
|
|
|
59,967 |
|
|
|
166,040 |
|
|
|
1,915,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
29,154 |
|
|
|
253,314 |
|
|
|
32,019 |
|
|
|
32,451 |
|
|
|
10,903 |
|
| Net transfers(1) |
|
|
(318,972 |
) |
|
|
(47,161 |
) |
|
|
56,054 |
|
|
|
(102,307 |
) |
|
|
1,165,078 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
309 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(660 |
) |
|
|
(4,884 |
) |
|
|
(2,800 |
) |
|
|
(5,110 |
) |
|
|
(243,716 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(23,556 |
) |
|
|
(434,220 |
) |
|
|
(168,337 |
) |
|
|
(210,913 |
) |
|
|
(1,139,377 |
) |
| Death benefits |
|
|
(15,780 |
) |
|
|
(6,788 |
) |
|
|
(40,319 |
) |
|
|
(39,390 |
) |
|
|
(413,614 |
) |
| Increase (decrease) from transactions |
|
|
(329,814 |
) |
|
|
(239,739 |
) |
|
|
(123,383 |
) |
|
|
(324,960 |
) |
|
|
(620,726 |
) |
| Net assets at beginning of year |
|
|
1,703,497 |
|
|
|
1,722,593 |
|
|
|
959,567 |
|
|
|
2,670,039 |
|
|
|
23,909,274 |
|
| Net assets at end of year |
|
$ |
1,432,237 |
|
|
$ |
1,780,526 |
|
|
$ |
896,151 |
|
|
$ |
2,511,119 |
|
|
$ |
25,204,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,244,603 |
|
|
|
642,900 |
|
|
|
388,283 |
|
|
|
694,378 |
|
|
|
19,422,427 |
|
| Units purchased |
|
|
22,418 |
|
|
|
87,980 |
|
|
|
62,418 |
|
|
|
10,570 |
|
|
|
1,250,755 |
|
| Units redeemed |
|
|
(254,300 |
) |
|
|
(166,154 |
) |
|
|
(111,784 |
) |
|
|
(88,130 |
) |
|
|
(1,782,222 |
) |
| Units outstanding at end of year |
|
|
1,012,721 |
|
|
|
564,726 |
|
|
|
338,917 |
|
|
|
616,818 |
|
|
|
18,890,960 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
77 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2024 (continued) |
|
VP US
Flex Gro,
Cl 2 |
|
|
VP US
Flex
Mod Gro,
Cl 2 |
|
|
Wanger
Acorn |
|
|
Wanger
Intl |
|
|
WA Var
Global
Hi Yd Bond,
Cl II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(2,639,341 |
) |
|
$ |
(1,461,483 |
) |
|
$ |
(74,812 |
) |
|
$ |
24,057 |
|
|
$ |
26,195 |
|
| Net realized gain (loss) on sales of investments |
|
|
7,731,922 |
|
|
|
3,355,900 |
|
|
|
(562,819 |
) |
|
|
(252,939 |
) |
|
|
(16,787 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
33,043,734 |
|
|
|
14,153,068 |
|
|
|
1,684,223 |
|
|
|
(225,531 |
) |
|
|
16,928 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
38,136,315 |
|
|
|
16,047,485 |
|
|
|
1,046,592 |
|
|
|
(454,413 |
) |
|
|
26,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,242,575 |
|
|
|
977,364 |
|
|
|
66,690 |
|
|
|
100,771 |
|
|
|
47,285 |
|
| Net transfers(1) |
|
|
2,861,290 |
|
|
|
(330,157 |
) |
|
|
(191,560 |
) |
|
|
(265,767 |
) |
|
|
(52,925 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
5,409 |
|
|
|
2,438 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
12,037 |
|
|
|
10,015 |
|
|
|
(1,759 |
) |
|
|
(1,807 |
) |
|
|
— |
|
| Contract charges |
|
|
(4,028,686 |
) |
|
|
(1,831,344 |
) |
|
|
(6,750 |
) |
|
|
(5,173 |
) |
|
|
(29 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(11,940,833 |
) |
|
|
(8,330,069 |
) |
|
|
(1,098,205 |
) |
|
|
(609,328 |
) |
|
|
(17,720 |
) |
| Death benefits |
|
|
(1,751,847 |
) |
|
|
(1,455,463 |
) |
|
|
(74,879 |
) |
|
|
(33,577 |
) |
|
|
(865 |
) |
| Increase (decrease) from transactions |
|
|
(13,605,464 |
) |
|
|
(10,959,654 |
) |
|
|
(1,301,054 |
) |
|
|
(812,443 |
) |
|
|
(24,254 |
) |
| Net assets at beginning of year |
|
|
243,009,174 |
|
|
|
136,106,697 |
|
|
|
8,405,680 |
|
|
|
5,634,252 |
|
|
|
529,750 |
|
| Net assets at end of year |
|
$ |
267,540,025 |
|
|
$ |
141,194,528 |
|
|
$ |
8,151,218 |
|
|
$ |
4,367,396 |
|
|
$ |
531,832 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
160,486,571 |
|
|
|
99,117,862 |
|
|
|
1,691,056 |
|
|
|
1,882,847 |
|
|
|
447,377 |
|
| Units purchased |
|
|
4,244,431 |
|
|
|
1,840,280 |
|
|
|
23,131 |
|
|
|
55,579 |
|
|
|
76,925 |
|
| Units redeemed |
|
|
(12,417,957 |
) |
|
|
(9,206,183 |
) |
|
|
(264,531 |
) |
|
|
(297,032 |
) |
|
|
(97,749 |
) |
| Units outstanding at end of year |
|
|
152,313,045 |
|
|
|
91,751,959 |
|
|
|
1,449,656 |
|
|
|
1,641,394 |
|
|
|
426,553 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 78 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 |
|
AB VPS Dyn
Asset Alloc,
Cl B |
|
|
AB VPS
Intl Val,
Cl B |
|
|
AB VPS
Lg Cap Gro,
Cl B |
|
|
AB VPS
Relative Val,
Cl B |
|
|
AB VPS Sus
Gbl Thematic,
Cl B |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(6,562 |
) |
|
$ |
(6,886 |
) |
|
$ |
(92,185 |
) |
|
$ |
18,801 |
|
|
$ |
(3,895 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(20,354 |
) |
|
|
(23,102 |
) |
|
|
16,006 |
|
|
|
35,498 |
|
|
|
9,643 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
624,964 |
|
|
|
378,823 |
|
|
|
27,180 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
147,299 |
|
|
|
499,229 |
|
|
|
1,874,688 |
|
|
|
36,123 |
|
|
|
28,216 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
120,383 |
|
|
|
469,241 |
|
|
|
2,423,473 |
|
|
|
469,245 |
|
|
|
61,144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
9,750 |
|
|
|
58,294 |
|
|
|
860,542 |
|
|
|
149,092 |
|
|
|
4,407 |
|
| Net transfers(1) |
|
|
(517,190 |
) |
|
|
(117,036 |
) |
|
|
419,702 |
|
|
|
(251,869 |
) |
|
|
149 |
|
| Transfers for policy loans |
|
|
(26,525 |
) |
|
|
870 |
|
|
|
588 |
|
|
|
1,985 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(535 |
) |
|
|
(9,512 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(178 |
) |
|
|
(4,518 |
) |
|
|
(1,482 |
) |
|
|
(2,311 |
) |
|
|
(456 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(23,299 |
) |
|
|
(274,834 |
) |
|
|
(304,507 |
) |
|
|
(239,079 |
) |
|
|
(49,973 |
) |
| Death benefits |
|
|
— |
|
|
|
(25,427 |
) |
|
|
(112,842 |
) |
|
|
(72,012 |
) |
|
|
(9,192 |
) |
| Increase (decrease) from transactions |
|
|
(557,442 |
) |
|
|
(363,186 |
) |
|
|
852,489 |
|
|
|
(414,194 |
) |
|
|
(55,065 |
) |
| Net assets at beginning of year |
|
|
1,151,388 |
|
|
|
3,528,427 |
|
|
|
6,953,194 |
|
|
|
4,688,583 |
|
|
|
441,910 |
|
| Net assets at end of year |
|
$ |
714,329 |
|
|
$ |
3,634,482 |
|
|
$ |
10,229,156 |
|
|
$ |
4,743,634 |
|
|
$ |
447,989 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
984,003 |
|
|
|
2,384,574 |
|
|
|
1,675,100 |
|
|
|
1,407,365 |
|
|
|
167,551 |
|
| Units purchased |
|
|
8,021 |
|
|
|
42,303 |
|
|
|
252,229 |
|
|
|
44,765 |
|
|
|
1,929 |
|
| Units redeemed |
|
|
(443,222 |
) |
|
|
(245,719 |
) |
|
|
(102,907 |
) |
|
|
(170,263 |
) |
|
|
(20,863 |
) |
| Units outstanding at end of year |
|
|
548,802 |
|
|
|
2,181,158 |
|
|
|
1,824,422 |
|
|
|
1,281,867 |
|
|
|
148,617 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
79 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Allspg VT
Index
Asset Alloc,
Cl 2 |
|
|
Allspg VT
Opp,
Cl 2 |
|
|
Allspg VT
Sm Cap Gro,
Cl 2 |
|
|
ALPS Alerian
Engy Infr,
Class III |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
2,533 |
|
|
$ |
(22,783 |
) |
|
$ |
(41,707 |
) |
|
$ |
39,022 |
|
| Net realized gain (loss) on sales of investments |
|
|
3,322 |
|
|
|
7,698 |
|
|
|
(161,188 |
) |
|
|
52,237 |
|
| Distributions from capital gains |
|
|
67,118 |
|
|
|
205,641 |
|
|
|
— |
|
|
|
21,356 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
244,747 |
|
|
|
343,605 |
|
|
|
333,580 |
|
|
|
125,529 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
317,720 |
|
|
|
534,161 |
|
|
|
130,685 |
|
|
|
238,144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
30,176 |
|
|
|
42,375 |
|
|
|
109,161 |
|
|
|
45,502 |
|
| Net transfers(1) |
|
|
140,970 |
|
|
|
(2,733 |
) |
|
|
74,665 |
|
|
|
(49,130 |
) |
| Transfers for policy loans |
|
|
11,545 |
|
|
|
444 |
|
|
|
667 |
|
|
|
248 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(7,234 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,315 |
) |
|
|
(813 |
) |
|
|
(1,427 |
) |
|
|
(493 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(75,980 |
) |
|
|
(175,853 |
) |
|
|
(278,118 |
) |
|
|
(174,616 |
) |
| Death benefits |
|
|
(14,816 |
) |
|
|
(1,050 |
) |
|
|
(121,787 |
) |
|
|
(969 |
) |
| Increase (decrease) from transactions |
|
|
90,580 |
|
|
|
(144,864 |
) |
|
|
(216,839 |
) |
|
|
(179,458 |
) |
| Net assets at beginning of year |
|
|
1,977,622 |
|
|
|
2,164,005 |
|
|
|
4,256,293 |
|
|
|
1,963,130 |
|
| Net assets at end of year |
|
$ |
2,385,922 |
|
|
$ |
2,553,302 |
|
|
$ |
4,170,139 |
|
|
$ |
2,021,816 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
642,004 |
|
|
|
532,934 |
|
|
|
1,113,287 |
|
|
|
1,766,625 |
|
| Units purchased |
|
|
56,108 |
|
|
|
9,941 |
|
|
|
62,550 |
|
|
|
68,834 |
|
| Units redeemed |
|
|
(28,041 |
) |
|
|
(40,907 |
) |
|
|
(121,761 |
) |
|
|
(218,212 |
) |
| Units outstanding at end of year |
|
|
670,071 |
|
|
|
501,968 |
|
|
|
1,054,076 |
|
|
|
1,617,247 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 80 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
BlackRock
Adv
SMID Cap VI,
Cl III |
|
|
BlackRock
Global Alloc,
Cl III |
|
|
BNY Mellon
Sus US Eq,
Serv |
|
|
Calvert VP
SRI Bal,
Cl F |
|
|
Calvert VP
SRI Bal,
Cl I |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
3,318 |
|
|
$ |
89,049 |
|
|
$ |
(260 |
) |
|
$ |
2,384 |
|
|
$ |
13,510 |
|
| Net realized gain (loss) on sales of investments |
|
|
134 |
|
|
|
(140,093 |
) |
|
|
(41 |
) |
|
|
184 |
|
|
|
4,229 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
347 |
|
|
|
1,048 |
|
|
|
6,205 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
30,279 |
|
|
|
669,172 |
|
|
|
4,647 |
|
|
|
27,263 |
|
|
|
210,821 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
33,731 |
|
|
|
618,128 |
|
|
|
4,693 |
|
|
|
30,879 |
|
|
|
234,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
113,405 |
|
|
|
175,223 |
|
|
|
58,397 |
|
|
|
123,559 |
|
|
|
6,047 |
|
| Net transfers(1) |
|
|
16,405 |
|
|
|
220,966 |
|
|
|
(958 |
) |
|
|
76,481 |
|
|
|
711,516 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
(1,428 |
) |
|
|
— |
|
|
|
— |
|
|
|
1,008 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(13,654 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(10 |
) |
|
|
(1,137 |
) |
|
|
— |
|
|
|
(19 |
) |
|
|
(651 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(1,745 |
) |
|
|
(309,872 |
) |
|
|
(348 |
) |
|
|
(3,071 |
) |
|
|
(55,447 |
) |
| Death benefits |
|
|
— |
|
|
|
(59,405 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
128,055 |
|
|
|
10,693 |
|
|
|
57,091 |
|
|
|
196,950 |
|
|
|
662,473 |
|
| Net assets at beginning of year |
|
|
131,399 |
|
|
|
5,541,943 |
|
|
|
2,638 |
|
|
|
86,976 |
|
|
|
1,051,751 |
|
| Net assets at end of year |
|
$ |
293,185 |
|
|
$ |
6,170,764 |
|
|
$ |
64,422 |
|
|
$ |
314,805 |
|
|
$ |
1,948,989 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
135,207 |
|
|
|
3,685,400 |
|
|
|
— |
|
|
|
90,782 |
|
|
|
461,070 |
|
| Units purchased |
|
|
124,427 |
|
|
|
326,698 |
|
|
|
55,595 |
|
|
|
199,584 |
|
|
|
303,085 |
|
| Units redeemed |
|
|
(1,480 |
) |
|
|
(321,779 |
) |
|
|
(946 |
) |
|
|
(2,612 |
) |
|
|
(22,386 |
) |
| Units outstanding at end of year |
|
|
258,154 |
|
|
|
3,690,319 |
|
|
|
54,649 |
|
|
|
287,754 |
|
|
|
741,769 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
81 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
CB Var
Sm Cap Gro,
Cl I |
|
|
Col VP
Bal,
Cl 2 |
|
|
Col VP
Bal,
Cl 3 |
|
|
Col VP
Commodity
Strategy,
Cl 2 |
|
|
Col VP
Contrarian
Core,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(4,011 |
) |
|
$ |
(111,562 |
) |
|
$ |
(495,708 |
) |
|
$ |
132,895 |
|
|
$ |
(54,805 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(624 |
) |
|
|
2,487 |
|
|
|
1,721,208 |
|
|
|
(17,816 |
) |
|
|
120,115 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
37,849 |
|
|
|
1,982,784 |
|
|
|
7,080,798 |
|
|
|
(167,973 |
) |
|
|
1,265,689 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
33,214 |
|
|
|
1,873,709 |
|
|
|
8,306,298 |
|
|
|
(52,894 |
) |
|
|
1,330,999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
9,641 |
|
|
|
2,232,727 |
|
|
|
995,533 |
|
|
|
48,123 |
|
|
|
97,116 |
|
| Net transfers(1) |
|
|
6,630 |
|
|
|
695,062 |
|
|
|
1,402,745 |
|
|
|
71,843 |
|
|
|
504,776 |
|
| Transfers for policy loans |
|
|
1,149 |
|
|
|
(19,101 |
) |
|
|
(45,337 |
) |
|
|
— |
|
|
|
602 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(21,221 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(279 |
) |
|
|
(39,799 |
) |
|
|
(13,344 |
) |
|
|
(144 |
) |
|
|
(574 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(15,425 |
) |
|
|
(87,624 |
) |
|
|
(3,028,327 |
) |
|
|
(22,798 |
) |
|
|
(114,682 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
(630,616 |
) |
|
|
(27,748 |
) |
|
|
(88,882 |
) |
| Increase (decrease) from transactions |
|
|
1,716 |
|
|
|
2,781,265 |
|
|
|
(1,340,567 |
) |
|
|
69,276 |
|
|
|
398,356 |
|
| Net assets at beginning of year |
|
|
436,821 |
|
|
|
8,220,542 |
|
|
|
42,718,998 |
|
|
|
641,822 |
|
|
|
4,305,111 |
|
| Net assets at end of year |
|
$ |
471,751 |
|
|
$ |
12,875,516 |
|
|
$ |
49,684,729 |
|
|
$ |
658,204 |
|
|
$ |
6,034,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
131,985 |
|
|
|
9,421,453 |
|
|
|
16,872,592 |
|
|
|
782,111 |
|
|
|
1,733,968 |
|
| Units purchased |
|
|
7,857 |
|
|
|
3,121,681 |
|
|
|
1,181,528 |
|
|
|
166,648 |
|
|
|
209,207 |
|
| Units redeemed |
|
|
(7,107 |
) |
|
|
(235,037 |
) |
|
|
(1,612,594 |
) |
|
|
(78,417 |
) |
|
|
(83,038 |
) |
| Units outstanding at end of year |
|
|
132,735 |
|
|
|
12,308,097 |
|
|
|
16,441,526 |
|
|
|
870,342 |
|
|
|
1,860,137 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 82 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Disciplined
Core,
Cl 2 |
|
|
Col VP
Disciplined
Core,
Cl 3 |
|
|
Col VP
Divd Opp,
Cl 2 |
|
|
Col VP
Divd Opp,
Cl 3 |
|
|
Col VP
Emerg
Mkts Bond,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(28,152 |
) |
|
$ |
(186,535 |
) |
|
$ |
(59,419 |
) |
|
$ |
(193,704 |
) |
|
$ |
44,118 |
|
| Net realized gain (loss) on sales of investments |
|
|
48,250 |
|
|
|
1,373,591 |
|
|
|
99,158 |
|
|
|
1,221,852 |
|
|
|
(35,472 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
501,218 |
|
|
|
2,312,109 |
|
|
|
182,549 |
|
|
|
(300,724 |
) |
|
|
81,565 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
521,316 |
|
|
|
3,499,165 |
|
|
|
222,288 |
|
|
|
727,424 |
|
|
|
90,211 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
459,820 |
|
|
|
92,220 |
|
|
|
673,716 |
|
|
|
182,283 |
|
|
|
12,539 |
|
| Net transfers(1) |
|
|
166,913 |
|
|
|
(199,701 |
) |
|
|
36,569 |
|
|
|
103,784 |
|
|
|
(15,681 |
) |
| Transfers for policy loans |
|
|
(8,086 |
) |
|
|
19,032 |
|
|
|
— |
|
|
|
5,639 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(16,860 |
) |
|
|
— |
|
|
|
(835 |
) |
|
|
— |
|
| Contract charges |
|
|
(2,043 |
) |
|
|
(13,287 |
) |
|
|
(6,422 |
) |
|
|
(12,502 |
) |
|
|
(91 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(62,476 |
) |
|
|
(1,112,225 |
) |
|
|
(202,444 |
) |
|
|
(1,285,544 |
) |
|
|
(75,676 |
) |
| Death benefits |
|
|
(16,885 |
) |
|
|
(459,628 |
) |
|
|
(22,731 |
) |
|
|
(432,818 |
) |
|
|
(2,985 |
) |
| Increase (decrease) from transactions |
|
|
537,243 |
|
|
|
(1,690,449 |
) |
|
|
478,688 |
|
|
|
(1,439,993 |
) |
|
|
(81,894 |
) |
| Net assets at beginning of year |
|
|
2,122,978 |
|
|
|
16,097,535 |
|
|
|
5,129,302 |
|
|
|
20,628,681 |
|
|
|
1,076,139 |
|
| Net assets at end of year |
|
$ |
3,181,537 |
|
|
$ |
17,906,251 |
|
|
$ |
5,830,278 |
|
|
$ |
19,916,112 |
|
|
$ |
1,084,456 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
555,644 |
|
|
|
4,860,247 |
|
|
|
1,771,283 |
|
|
|
5,399,844 |
|
|
|
1,154,057 |
|
| Units purchased |
|
|
147,194 |
|
|
|
32,640 |
|
|
|
307,509 |
|
|
|
117,366 |
|
|
|
20,161 |
|
| Units redeemed |
|
|
(24,687 |
) |
|
|
(480,617 |
) |
|
|
(135,410 |
) |
|
|
(511,592 |
) |
|
|
(106,089 |
) |
| Units outstanding at end of year |
|
|
678,151 |
|
|
|
4,412,270 |
|
|
|
1,943,382 |
|
|
|
5,005,618 |
|
|
|
1,068,129 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
83 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Emer Mkts,
Cl 2 |
|
|
Col VP
Emer Mkts,
Cl 3 |
|
|
Col VP Global
Strategic Inc,
Cl 2 |
|
|
Col VP Global
Strategic Inc,
Cl 3 |
|
|
Col VP Govt
Money Mkt,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(26,257 |
) |
|
$ |
(40,340 |
) |
|
$ |
19,396 |
|
|
$ |
56,739 |
|
|
$ |
502,827 |
|
| Net realized gain (loss) on sales of investments |
|
|
(172,901 |
) |
|
|
(219,198 |
) |
|
|
(6,984 |
) |
|
|
(118,404 |
) |
|
|
1 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
389,159 |
|
|
|
574,152 |
|
|
|
69,079 |
|
|
|
268,548 |
|
|
|
(1 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
190,001 |
|
|
|
314,614 |
|
|
|
81,491 |
|
|
|
206,883 |
|
|
|
502,827 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
161,936 |
|
|
|
56,912 |
|
|
|
70,050 |
|
|
|
16,430 |
|
|
|
2,588,150 |
|
| Net transfers(1) |
|
|
53,427 |
|
|
|
32,433 |
|
|
|
15,342 |
|
|
|
15,695 |
|
|
|
1,711,135 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
2,054 |
|
|
|
— |
|
|
|
1,700 |
|
|
|
(2,500 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(1,022 |
) |
|
|
— |
|
|
|
(64 |
) |
|
|
— |
|
| Contract charges |
|
|
(3,180 |
) |
|
|
(4,732 |
) |
|
|
(144 |
) |
|
|
(5,173 |
) |
|
|
(5,091 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(97,999 |
) |
|
|
(277,449 |
) |
|
|
(13,706 |
) |
|
|
(213,789 |
) |
|
|
(2,058,998 |
) |
| Death benefits |
|
|
(128,770 |
) |
|
|
(46,886 |
) |
|
|
(10,617 |
) |
|
|
(89,065 |
) |
|
|
(69,809 |
) |
| Increase (decrease) from transactions |
|
|
(14,586 |
) |
|
|
(238,690 |
) |
|
|
60,925 |
|
|
|
(274,266 |
) |
|
|
2,162,887 |
|
| Net assets at beginning of year |
|
|
2,390,405 |
|
|
|
3,976,579 |
|
|
|
948,375 |
|
|
|
2,536,593 |
|
|
|
13,762,515 |
|
| Net assets at end of year |
|
$ |
2,565,820 |
|
|
$ |
4,052,503 |
|
|
$ |
1,090,791 |
|
|
$ |
2,469,210 |
|
|
$ |
16,428,229 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
2,059,729 |
|
|
|
1,752,225 |
|
|
|
1,083,149 |
|
|
|
1,814,952 |
|
|
|
14,646,066 |
|
| Units purchased |
|
|
181,228 |
|
|
|
80,065 |
|
|
|
94,786 |
|
|
|
23,350 |
|
|
|
5,316,443 |
|
| Units redeemed |
|
|
(194,846 |
) |
|
|
(180,653 |
) |
|
|
(27,453 |
) |
|
|
(214,830 |
) |
|
|
(3,016,395 |
) |
| Units outstanding at end of year |
|
|
2,046,111 |
|
|
|
1,651,637 |
|
|
|
1,150,482 |
|
|
|
1,623,472 |
|
|
|
16,946,114 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 84 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP Govt
Money Mkt,
Cl 3 |
|
|
Col VP
Hi Yield
Bond,
Cl 2 |
|
|
Col VP
Hi Yield
Bond,
Cl 3 |
|
|
Col VP
Inc Opp,
Cl 2 |
|
|
Col VP
Inc Opp,
Cl 3 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
271,683 |
|
|
$ |
170,566 |
|
|
$ |
224,497 |
|
|
$ |
142,316 |
|
|
$ |
173,671 |
|
| Net realized gain (loss) on sales of investments |
|
|
8 |
|
|
|
(50,778 |
) |
|
|
(83,437 |
) |
|
|
(163,630 |
) |
|
|
(162,739 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(7 |
) |
|
|
284,926 |
|
|
|
404,501 |
|
|
|
383,062 |
|
|
|
406,284 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
271,684 |
|
|
|
404,714 |
|
|
|
545,561 |
|
|
|
361,748 |
|
|
|
417,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
162,866 |
|
|
|
795,255 |
|
|
|
28,936 |
|
|
|
463,180 |
|
|
|
29,683 |
|
| Net transfers(1) |
|
|
167,399 |
|
|
|
(137,181 |
) |
|
|
5,709 |
|
|
|
(731,334 |
) |
|
|
12,461 |
|
| Transfers for policy loans |
|
|
35,733 |
|
|
|
(4,701 |
) |
|
|
(652 |
) |
|
|
334 |
|
|
|
(1,646 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
(585 |
) |
|
|
— |
|
|
|
(3,138 |
) |
|
|
— |
|
|
|
(1,541 |
) |
| Contract charges |
|
|
(6,650 |
) |
|
|
(794 |
) |
|
|
(2,418 |
) |
|
|
(1,265 |
) |
|
|
(7,136 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(897,120 |
) |
|
|
(108,689 |
) |
|
|
(299,904 |
) |
|
|
(151,184 |
) |
|
|
(328,575 |
) |
| Death benefits |
|
|
(162,359 |
) |
|
|
(16,794 |
) |
|
|
(273,271 |
) |
|
|
(11,779 |
) |
|
|
(73,103 |
) |
| Increase (decrease) from transactions |
|
|
(700,716 |
) |
|
|
527,096 |
|
|
|
(544,738 |
) |
|
|
(432,048 |
) |
|
|
(369,857 |
) |
| Net assets at beginning of year |
|
|
7,983,931 |
|
|
|
3,546,695 |
|
|
|
5,297,527 |
|
|
|
3,827,441 |
|
|
|
4,216,046 |
|
| Net assets at end of year |
|
$ |
7,554,899 |
|
|
$ |
4,478,505 |
|
|
$ |
5,298,350 |
|
|
$ |
3,757,141 |
|
|
$ |
4,263,405 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
7,685,671 |
|
|
|
2,193,725 |
|
|
|
1,917,573 |
|
|
|
2,387,625 |
|
|
|
1,953,865 |
|
| Units purchased |
|
|
679,152 |
|
|
|
545,271 |
|
|
|
29,410 |
|
|
|
279,368 |
|
|
|
45,715 |
|
| Units redeemed |
|
|
(1,376,080 |
) |
|
|
(215,034 |
) |
|
|
(212,385 |
) |
|
|
(543,002 |
) |
|
|
(211,914 |
) |
| Units outstanding at end of year |
|
|
6,988,743 |
|
|
|
2,523,962 |
|
|
|
1,734,598 |
|
|
|
2,123,991 |
|
|
|
1,787,666 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
85 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Inter Bond,
Cl 2 |
|
|
Col VP
Inter Bond,
Cl 3 |
|
|
Col VP
Lg Cap Gro,
Cl 2 |
|
|
Col VP
Lg Cap Gro,
Cl 3 |
|
|
Col VP
Lg Cap
Index,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
54,756 |
|
|
$ |
137,015 |
|
|
$ |
(67,262 |
) |
|
$ |
(34,007 |
) |
|
$ |
(148,875 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(115,864 |
) |
|
|
(379,076 |
) |
|
|
148,068 |
|
|
|
370,027 |
|
|
|
14,377 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
332,234 |
|
|
|
786,735 |
|
|
|
2,058,514 |
|
|
|
1,005,228 |
|
|
|
3,361,629 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
271,126 |
|
|
|
544,674 |
|
|
|
2,139,320 |
|
|
|
1,341,248 |
|
|
|
3,227,131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
725,567 |
|
|
|
60,549 |
|
|
|
836,762 |
|
|
|
36,952 |
|
|
|
6,941,246 |
|
| Net transfers(1) |
|
|
479,001 |
|
|
|
128,000 |
|
|
|
(24,866 |
) |
|
|
35,422 |
|
|
|
402,569 |
|
| Transfers for policy loans |
|
|
463 |
|
|
|
1,741 |
|
|
|
31 |
|
|
|
— |
|
|
|
(92,396 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(5,455 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(13,346 |
) |
|
|
(17,179 |
) |
|
|
(12,355 |
) |
|
|
(3,812 |
) |
|
|
(38,938 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(328,795 |
) |
|
|
(856,921 |
) |
|
|
(161,750 |
) |
|
|
(387,803 |
) |
|
|
(132,394 |
) |
| Death benefits |
|
|
(27,651 |
) |
|
|
(355,938 |
) |
|
|
(111,532 |
) |
|
|
(72,263 |
) |
|
|
(49,790 |
) |
| Increase (decrease) from transactions |
|
|
835,239 |
|
|
|
(1,045,203 |
) |
|
|
526,290 |
|
|
|
(391,504 |
) |
|
|
7,030,297 |
|
| Net assets at beginning of year |
|
|
4,934,356 |
|
|
|
11,424,527 |
|
|
|
4,852,330 |
|
|
|
3,360,161 |
|
|
|
10,095,600 |
|
| Net assets at end of year |
|
$ |
6,040,721 |
|
|
$ |
10,923,998 |
|
|
$ |
7,517,940 |
|
|
$ |
4,309,905 |
|
|
$ |
20,353,028 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
4,303,201 |
|
|
|
6,883,428 |
|
|
|
1,246,798 |
|
|
|
1,632,874 |
|
|
|
10,988,024 |
|
| Units purchased |
|
|
1,089,459 |
|
|
|
140,833 |
|
|
|
428,634 |
|
|
|
27,591 |
|
|
|
7,207,720 |
|
| Units redeemed |
|
|
(372,720 |
) |
|
|
(750,782 |
) |
|
|
(210,385 |
) |
|
|
(192,027 |
) |
|
|
(401,867 |
) |
| Units outstanding at end of year |
|
|
5,019,940 |
|
|
|
6,273,479 |
|
|
|
1,465,047 |
|
|
|
1,468,438 |
|
|
|
17,793,877 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 86 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Lg Cap
Index,
Cl 3 |
|
|
Col VP
Limited
Duration Cr,
Cl 2 |
|
|
Col VP
Long Govt/
Cr Bond,
Cl 2 |
|
|
Col VP
Overseas
Core,
Cl 2 |
|
|
Col VP
Overseas
Core,
Cl 3 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(659,629 |
) |
|
$ |
84,150 |
|
|
$ |
26,379 |
|
|
$ |
4,543 |
|
|
$ |
20,665 |
|
| Net realized gain (loss) on sales of investments |
|
|
1,995,509 |
|
|
|
(40,783 |
) |
|
|
(41,570 |
) |
|
|
(9,909 |
) |
|
|
(2,829 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
12,945,606 |
|
|
|
169,868 |
|
|
|
93,616 |
|
|
|
131,669 |
|
|
|
360,949 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
14,281,486 |
|
|
|
213,235 |
|
|
|
78,425 |
|
|
|
126,303 |
|
|
|
378,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
4,382,257 |
|
|
|
173,493 |
|
|
|
53,931 |
|
|
|
227,666 |
|
|
|
26,912 |
|
| Net transfers(1) |
|
|
3,412,596 |
|
|
|
107,784 |
|
|
|
116,461 |
|
|
|
(45,016 |
) |
|
|
1,736 |
|
| Transfers for policy loans |
|
|
(141,172 |
) |
|
|
— |
|
|
|
672 |
|
|
|
— |
|
|
|
(765 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,797 |
) |
| Contract charges |
|
|
(20,486 |
) |
|
|
(7,588 |
) |
|
|
(276 |
) |
|
|
(850 |
) |
|
|
(1,320 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(3,032,154 |
) |
|
|
(378,679 |
) |
|
|
(37,563 |
) |
|
|
(70,203 |
) |
|
|
(200,248 |
) |
| Death benefits |
|
|
(437,704 |
) |
|
|
(291,432 |
) |
|
|
(35,867 |
) |
|
|
(959 |
) |
|
|
(86,564 |
) |
| Increase (decrease) from transactions |
|
|
4,163,337 |
|
|
|
(396,422 |
) |
|
|
97,358 |
|
|
|
110,638 |
|
|
|
(263,046 |
) |
| Net assets at beginning of year |
|
|
55,435,264 |
|
|
|
4,029,747 |
|
|
|
1,211,746 |
|
|
|
854,752 |
|
|
|
2,834,021 |
|
| Net assets at end of year |
|
$ |
73,880,087 |
|
|
$ |
3,846,560 |
|
|
$ |
1,387,529 |
|
|
$ |
1,091,693 |
|
|
$ |
2,949,760 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
17,221,617 |
|
|
|
3,775,910 |
|
|
|
1,251,644 |
|
|
|
539,017 |
|
|
|
1,717,325 |
|
| Units purchased |
|
|
2,338,514 |
|
|
|
286,916 |
|
|
|
196,622 |
|
|
|
133,000 |
|
|
|
47,963 |
|
| Units redeemed |
|
|
(1,009,443 |
) |
|
|
(647,816 |
) |
|
|
(89,415 |
) |
|
|
(69,219 |
) |
|
|
(193,931 |
) |
| Units outstanding at end of year |
|
|
18,550,688 |
|
|
|
3,415,010 |
|
|
|
1,358,851 |
|
|
|
602,798 |
|
|
|
1,571,357 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
87 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Select
Lg Cap Eq,
Cl 2 |
|
|
Col VP
Select
Lg Cap Val,
Cl 2 |
|
|
Col VP
Select
Lg Cap Val,
Cl 3 |
|
|
Col VP
Select
Mid Cap Gro,
Cl 2 |
|
|
Col VP
Select
Mid Cap Gro,
Cl 3 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(332 |
) |
|
$ |
(38,783 |
) |
|
$ |
(8,700 |
) |
|
$ |
(21,139 |
) |
|
$ |
(35,009 |
) |
| Net realized gain (loss) on sales of investments |
|
|
1,989 |
|
|
|
49,384 |
|
|
|
86,121 |
|
|
|
29,099 |
|
|
|
283,919 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
8,081 |
|
|
|
140,819 |
|
|
|
(42,468 |
) |
|
|
439,476 |
|
|
|
424,136 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
9,738 |
|
|
|
151,420 |
|
|
|
34,953 |
|
|
|
447,436 |
|
|
|
673,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
204,498 |
|
|
|
331,872 |
|
|
|
16,567 |
|
|
|
526,087 |
|
|
|
56,494 |
|
| Net transfers(1) |
|
|
13,510 |
|
|
|
(58,759 |
) |
|
|
(54,540 |
) |
|
|
(7,290 |
) |
|
|
(126,282 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
978 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,265 |
) |
| Contract charges |
|
|
— |
|
|
|
(12,494 |
) |
|
|
(605 |
) |
|
|
(5,444 |
) |
|
|
(1,054 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(70 |
) |
|
|
(24,594 |
) |
|
|
(145,534 |
) |
|
|
(57,359 |
) |
|
|
(80,914 |
) |
| Death benefits |
|
|
— |
|
|
|
(17,522 |
) |
|
|
(55,005 |
) |
|
|
(76,632 |
) |
|
|
(247,500 |
) |
| Increase (decrease) from transactions |
|
|
217,938 |
|
|
|
218,503 |
|
|
|
(239,117 |
) |
|
|
379,362 |
|
|
|
(399,543 |
) |
| Net assets at beginning of year |
|
|
375 |
|
|
|
3,535,443 |
|
|
|
997,658 |
|
|
|
1,581,794 |
|
|
|
3,055,644 |
|
| Net assets at end of year |
|
$ |
228,051 |
|
|
$ |
3,905,366 |
|
|
$ |
793,494 |
|
|
$ |
2,408,592 |
|
|
$ |
3,329,147 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
— |
|
|
|
1,095,032 |
|
|
|
293,060 |
|
|
|
596,043 |
|
|
|
1,107,085 |
|
| Units purchased |
|
|
195,723 |
|
|
|
193,739 |
|
|
|
9,967 |
|
|
|
194,668 |
|
|
|
22,679 |
|
| Units redeemed |
|
|
— |
|
|
|
(50,204 |
) |
|
|
(79,019 |
) |
|
|
(59,606 |
) |
|
|
(156,057 |
) |
| Units outstanding at end of year |
|
|
195,723 |
|
|
|
1,238,567 |
|
|
|
224,008 |
|
|
|
731,105 |
|
|
|
973,707 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 88 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Select
Mid Cap Val,
Cl 2 |
|
|
Col VP
Select Mid Cap Val,
Cl
3 |
|
|
Col VP
Select
Sm Cap Val,
Cl 2 |
|
|
Col VP
Select
Sm Cap Val,
Cl 3 |
|
|
Col VP Sel
Gbl Tech,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(22,849 |
) |
|
$ |
(15,513 |
) |
|
$ |
(13,882 |
) |
|
$ |
(12,315 |
) |
|
$ |
(3,046 |
) |
| Net realized gain (loss) on sales of investments |
|
|
48,126 |
|
|
|
138,549 |
|
|
|
8,040 |
|
|
|
95,878 |
|
|
|
466 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
18,982 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
233,349 |
|
|
|
23,964 |
|
|
|
149,495 |
|
|
|
71,395 |
|
|
|
107,837 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
258,626 |
|
|
|
147,000 |
|
|
|
143,653 |
|
|
|
154,958 |
|
|
|
124,239 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
550,131 |
|
|
|
23,352 |
|
|
|
135,061 |
|
|
|
26,795 |
|
|
|
273,562 |
|
| Net transfers(1) |
|
|
160,649 |
|
|
|
(21,859 |
) |
|
|
26,354 |
|
|
|
(72,356 |
) |
|
|
56,219 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
747 |
|
|
|
— |
|
|
|
553 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(343 |
) |
|
|
— |
|
| Contract charges |
|
|
(4,224 |
) |
|
|
(1,279 |
) |
|
|
(1,993 |
) |
|
|
(736 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(44,224 |
) |
|
|
(145,466 |
) |
|
|
(6,056 |
) |
|
|
(105,061 |
) |
|
|
(1,555 |
) |
| Death benefits |
|
|
— |
|
|
|
(39,845 |
) |
|
|
(8,354 |
) |
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
662,332 |
|
|
|
(184,350 |
) |
|
|
145,012 |
|
|
|
(151,148 |
) |
|
|
328,226 |
|
| Net assets at beginning of year |
|
|
1,847,488 |
|
|
|
1,742,977 |
|
|
|
1,103,798 |
|
|
|
1,415,245 |
|
|
|
84,449 |
|
| Net assets at end of year |
|
$ |
2,768,446 |
|
|
$ |
1,705,627 |
|
|
$ |
1,392,463 |
|
|
$ |
1,419,055 |
|
|
$ |
536,914 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
565,647 |
|
|
|
513,999 |
|
|
|
453,661 |
|
|
|
422,912 |
|
|
|
96,845 |
|
| Units purchased |
|
|
277,124 |
|
|
|
10,157 |
|
|
|
68,697 |
|
|
|
9,866 |
|
|
|
455,581 |
|
| Units redeemed |
|
|
(49,748 |
) |
|
|
(63,974 |
) |
|
|
(11,236 |
) |
|
|
(54,052 |
) |
|
|
(116,734 |
) |
| Units outstanding at end of year |
|
|
793,023 |
|
|
|
460,182 |
|
|
|
511,122 |
|
|
|
378,726 |
|
|
|
435,692 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
89 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Col VP
Sm Cap Val,
Cl 2 |
|
|
Col VP
Strategic Inc,
Cl 2 |
|
|
Col VP
US Govt
Mtge,
Cl 2 |
|
|
Col VP
US Govt
Mtge,
Cl 3 |
|
|
CS
Commodity
Return,
Cl 1 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(129 |
) |
|
$ |
82,245 |
|
|
$ |
23,582 |
|
|
$ |
37,609 |
|
|
$ |
103,296 |
|
| Net realized gain (loss) on sales of investments |
|
|
52 |
|
|
|
(76,299 |
) |
|
|
(75,350 |
) |
|
|
(34,209 |
) |
|
|
(63,761 |
) |
| Distributions from capital gains |
|
|
1,062 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
2,401 |
|
|
|
273,873 |
|
|
|
99,206 |
|
|
|
93,371 |
|
|
|
(92,011 |
) |
| Net increase (decrease) in net assets resulting from
operations |
|
|
3,386 |
|
|
|
279,819 |
|
|
|
47,438 |
|
|
|
96,771 |
|
|
|
(52,476 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
9,015 |
|
|
|
650,836 |
|
|
|
64,914 |
|
|
|
18,580 |
|
|
|
9,204 |
|
| Net transfers(1) |
|
|
6,371 |
|
|
|
447,434 |
|
|
|
26,741 |
|
|
|
18,058 |
|
|
|
(36,102 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,303 |
) |
|
|
468 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,143 |
) |
|
|
— |
|
| Contract charges |
|
|
(2 |
) |
|
|
(415 |
) |
|
|
(3,069 |
) |
|
|
(1,866 |
) |
|
|
(403 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(2,475 |
) |
|
|
(247,566 |
) |
|
|
(60,539 |
) |
|
|
(104,923 |
) |
|
|
(46,132 |
) |
| Death benefits |
|
|
— |
|
|
|
(69,270 |
) |
|
|
(212,873 |
) |
|
|
(28,966 |
) |
|
|
(1,704 |
) |
| Increase (decrease) from transactions |
|
|
12,909 |
|
|
|
781,019 |
|
|
|
(184,826 |
) |
|
|
(103,563 |
) |
|
|
(74,669 |
) |
| Net assets at beginning of year |
|
|
13,735 |
|
|
|
2,950,865 |
|
|
|
1,507,152 |
|
|
|
2,167,855 |
|
|
|
567,532 |
|
| Net assets at end of year |
|
$ |
30,030 |
|
|
$ |
4,011,703 |
|
|
$ |
1,369,764 |
|
|
$ |
2,161,063 |
|
|
$ |
440,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
12,735 |
|
|
|
2,553,683 |
|
|
|
1,570,105 |
|
|
|
1,783,059 |
|
|
|
824,701 |
|
| Units purchased |
|
|
13,763 |
|
|
|
953,555 |
|
|
|
96,821 |
|
|
|
31,060 |
|
|
|
28,503 |
|
| Units redeemed |
|
|
(2,279 |
) |
|
|
(283,068 |
) |
|
|
(302,360 |
) |
|
|
(113,397 |
) |
|
|
(143,935 |
) |
| Units outstanding at end of year |
|
|
24,219 |
|
|
|
3,224,170 |
|
|
|
1,364,566 |
|
|
|
1,700,722 |
|
|
|
709,269 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 90 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
CTIVP
AC Div Bond,
Cl 2 |
|
|
CTIVP
BR Gl Infl
Prot Sec,
Cl 2 |
|
|
CTIVP
BR Gl Infl
Prot Sec,
Cl 3 |
|
|
CTIVP
CenterSquare
Real Est,
Cl 2 |
|
|
CTIVP
MFS Val,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
30,087 |
|
|
$ |
112,049 |
|
|
$ |
199,954 |
|
|
$ |
8,065 |
|
|
$ |
(48,723 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(23,594 |
) |
|
|
(71,759 |
) |
|
|
(193,928 |
) |
|
|
(18,784 |
) |
|
|
214,270 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
71,581 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
54,617 |
|
|
|
279 |
|
|
|
63,605 |
|
|
|
62,955 |
|
|
|
143,529 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
61,110 |
|
|
|
40,569 |
|
|
|
69,631 |
|
|
|
123,817 |
|
|
|
309,076 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
47,227 |
|
|
|
11,768 |
|
|
|
7,428 |
|
|
|
44,942 |
|
|
|
527,536 |
|
| Net transfers(1) |
|
|
119,468 |
|
|
|
(74,142 |
) |
|
|
20,567 |
|
|
|
28,270 |
|
|
|
103,512 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
(426 |
) |
|
|
— |
|
|
|
(194 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(6,274 |
) |
|
|
(148 |
) |
|
|
(8,379 |
) |
|
|
(108 |
) |
|
|
(1,312 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(37,551 |
) |
|
|
(89,323 |
) |
|
|
(268,143 |
) |
|
|
(22,357 |
) |
|
|
(145,889 |
) |
| Death benefits |
|
|
(27,540 |
) |
|
|
(60,106 |
) |
|
|
(50,078 |
) |
|
|
(2,191 |
) |
|
|
(419,769 |
) |
| Increase (decrease) from transactions |
|
|
95,330 |
|
|
|
(211,951 |
) |
|
|
(299,031 |
) |
|
|
48,556 |
|
|
|
63,884 |
|
| Net assets at beginning of year |
|
|
1,424,440 |
|
|
|
1,602,610 |
|
|
|
2,642,899 |
|
|
|
959,258 |
|
|
|
4,538,772 |
|
| Net assets at end of year |
|
$ |
1,580,880 |
|
|
$ |
1,431,228 |
|
|
$ |
2,413,499 |
|
|
$ |
1,131,631 |
|
|
$ |
4,911,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,314,885 |
|
|
|
1,379,385 |
|
|
|
1,876,472 |
|
|
|
500,355 |
|
|
|
1,394,602 |
|
| Units purchased |
|
|
162,730 |
|
|
|
45,886 |
|
|
|
46,911 |
|
|
|
39,945 |
|
|
|
218,927 |
|
| Units redeemed |
|
|
(77,708 |
) |
|
|
(229,588 |
) |
|
|
(258,220 |
) |
|
|
(15,571 |
) |
|
|
(205,491 |
) |
| Units outstanding at end of year |
|
|
1,399,907 |
|
|
|
1,195,683 |
|
|
|
1,665,163 |
|
|
|
524,729 |
|
|
|
1,408,038 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
91 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
CTIVP
Prin Blue
Chip Gro,
Cl 1 |
|
|
CTIVP
Prin Blue
Chip Gro,
Cl 2 |
|
|
CTIVP
T Rowe Price
LgCap Val,
Cl 2 |
|
|
CTIVP
TCW Core
Plus Bond,
Cl 2 |
|
|
CTIVP
Vty Sycamore
Estb Val,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(46,344 |
) |
|
$ |
(24,351 |
) |
|
$ |
(40,774 |
) |
|
$ |
27,188 |
|
|
$ |
(58,146 |
) |
| Net realized gain (loss) on sales of investments |
|
|
558,609 |
|
|
|
71,660 |
|
|
|
64,338 |
|
|
|
(18,976 |
) |
|
|
183,105 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
1,084,078 |
|
|
|
660,594 |
|
|
|
285,769 |
|
|
|
84,506 |
|
|
|
340,293 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
1,596,343 |
|
|
|
707,903 |
|
|
|
309,333 |
|
|
|
92,718 |
|
|
|
465,252 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
34,743 |
|
|
|
226,208 |
|
|
|
144,615 |
|
|
|
305,330 |
|
|
|
876,029 |
|
| Net transfers(1) |
|
|
(267,352 |
) |
|
|
241,767 |
|
|
|
163,261 |
|
|
|
(42,026 |
) |
|
|
(67,511 |
) |
| Transfers for policy loans |
|
|
848 |
|
|
|
371 |
|
|
|
500 |
|
|
|
— |
|
|
|
(6,749 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
1,556 |
|
|
|
— |
|
|
|
1,363 |
|
| Contract charges |
|
|
(5,303 |
) |
|
|
(1,058 |
) |
|
|
(1,267 |
) |
|
|
(5,881 |
) |
|
|
(2,837 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(624,226 |
) |
|
|
(89,829 |
) |
|
|
(142,757 |
) |
|
|
(25,427 |
) |
|
|
(146,226 |
) |
| Death benefits |
|
|
(121,031 |
) |
|
|
(106,293 |
) |
|
|
(81,763 |
) |
|
|
— |
|
|
|
(130,510 |
) |
| Increase (decrease) from transactions |
|
|
(982,321 |
) |
|
|
271,166 |
|
|
|
84,145 |
|
|
|
231,996 |
|
|
|
523,559 |
|
| Net assets at beginning of year |
|
|
4,638,763 |
|
|
|
1,632,731 |
|
|
|
3,769,238 |
|
|
|
1,899,796 |
|
|
|
5,140,014 |
|
| Net assets at end of year |
|
$ |
5,252,785 |
|
|
$ |
2,611,800 |
|
|
$ |
4,162,716 |
|
|
$ |
2,224,510 |
|
|
$ |
6,128,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
2,407,494 |
|
|
|
434,609 |
|
|
|
1,323,101 |
|
|
|
1,893,773 |
|
|
|
1,319,084 |
|
| Units purchased |
|
|
16,181 |
|
|
|
323,979 |
|
|
|
108,755 |
|
|
|
325,832 |
|
|
|
267,664 |
|
| Units redeemed |
|
|
(450,896 |
) |
|
|
(165,337 |
) |
|
|
(79,988 |
) |
|
|
(102,203 |
) |
|
|
(112,157 |
) |
| Units outstanding at end of year |
|
|
1,972,779 |
|
|
|
593,251 |
|
|
|
1,351,868 |
|
|
|
2,117,402 |
|
|
|
1,474,591 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 92 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
CTIVP
Vty Sycamore
Estb Val,
Cl 3 |
|
|
CTIVP
Westfield
Mid Cap Gro,
Cl 2 |
|
|
CTIVP
Westfield
Sel Lg Cp Gr,
Cl 2 |
|
|
CVT EAFE
Intl Index,
Cl F |
|
|
CVT Nasdaq
100 Index,
Cl F |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(9,844 |
) |
|
$ |
(11,855 |
) |
|
$ |
(12,361 |
) |
|
$ |
6,586 |
|
|
$ |
(7,424 |
) |
| Net realized gain (loss) on sales of investments |
|
|
40,719 |
|
|
|
39,358 |
|
|
|
(25,303 |
) |
|
|
1,077 |
|
|
|
8,761 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
56,821 |
|
|
|
218,599 |
|
|
|
328,917 |
|
|
|
32,821 |
|
|
|
498,642 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
87,696 |
|
|
|
246,102 |
|
|
|
291,253 |
|
|
|
40,484 |
|
|
|
499,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
14,151 |
|
|
|
56,506 |
|
|
|
42,168 |
|
|
|
88,512 |
|
|
|
1,009,847 |
|
| Net transfers(1) |
|
|
(15,148 |
) |
|
|
41,325 |
|
|
|
(44,372 |
) |
|
|
17,136 |
|
|
|
92,799 |
|
| Transfers for policy loans |
|
|
1,141 |
|
|
|
— |
|
|
|
122 |
|
|
|
(1,636 |
) |
|
|
(11,954 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
(1,473 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(647 |
) |
|
|
(866 |
) |
|
|
(1,100 |
) |
|
|
— |
|
|
|
(1,417 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(56,704 |
) |
|
|
(23,741 |
) |
|
|
(58,485 |
) |
|
|
(3,544 |
) |
|
|
(5,378 |
) |
| Death benefits |
|
|
(9,109 |
) |
|
|
(75,518 |
) |
|
|
(3,580 |
) |
|
|
— |
|
|
|
(1,966 |
) |
| Increase (decrease) from transactions |
|
|
(67,789 |
) |
|
|
(2,294 |
) |
|
|
(65,247 |
) |
|
|
100,468 |
|
|
|
1,081,931 |
|
| Net assets at beginning of year |
|
|
1,035,577 |
|
|
|
1,028,363 |
|
|
|
1,036,640 |
|
|
|
211,395 |
|
|
|
532,516 |
|
| Net assets at end of year |
|
$ |
1,055,484 |
|
|
$ |
1,272,171 |
|
|
$ |
1,262,646 |
|
|
$ |
352,347 |
|
|
$ |
2,114,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
250,243 |
|
|
|
322,876 |
|
|
|
334,635 |
|
|
|
212,497 |
|
|
|
623,936 |
|
| Units purchased |
|
|
4,755 |
|
|
|
29,809 |
|
|
|
15,027 |
|
|
|
99,140 |
|
|
|
1,143,839 |
|
| Units redeemed |
|
|
(19,831 |
) |
|
|
(29,952 |
) |
|
|
(34,372 |
) |
|
|
(5,089 |
) |
|
|
(135,853 |
) |
| Units outstanding at end of year |
|
|
235,167 |
|
|
|
322,733 |
|
|
|
315,290 |
|
|
|
306,548 |
|
|
|
1,631,922 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
93 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
CVT
Russ 2000
Sm Cap Ind,
Cl F |
|
|
DWS
Alt Asset
Alloc VIP,
Cl B |
|
|
EV VT
Floating-
Rate Inc,
Init Cl |
|
|
Fid VIP
Contrafund,
Serv Cl 2 |
|
|
Fid VIP
Emer Mkts,
Serv Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(115 |
) |
|
$ |
44,337 |
|
|
$ |
339,858 |
|
|
$ |
(290,517 |
) |
|
$ |
416 |
|
| Net realized gain (loss) on sales of investments |
|
|
(238 |
) |
|
|
(9,285 |
) |
|
|
(44,289 |
) |
|
|
627,486 |
|
|
|
461 |
|
| Distributions from capital gains |
|
|
250 |
|
|
|
7,582 |
|
|
|
— |
|
|
|
1,407,442 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
57,714 |
|
|
|
(7,199 |
) |
|
|
157,733 |
|
|
|
8,626,495 |
|
|
|
1,762 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
57,611 |
|
|
|
35,435 |
|
|
|
453,302 |
|
|
|
10,370,906 |
|
|
|
2,639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
107,802 |
|
|
|
39,492 |
|
|
|
1,092,996 |
|
|
|
2,290,098 |
|
|
|
19,467 |
|
| Net transfers(1) |
|
|
94,327 |
|
|
|
(13,586 |
) |
|
|
(54,984 |
) |
|
|
(898,806 |
) |
|
|
2,132 |
|
| Transfers for policy loans |
|
|
(2,601 |
) |
|
|
— |
|
|
|
(17,940 |
) |
|
|
(20,320 |
) |
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(493 |
) |
|
|
(2,964 |
) |
|
|
— |
|
| Contract charges |
|
|
(5 |
) |
|
|
(134 |
) |
|
|
(6,060 |
) |
|
|
(15,342 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(2,458 |
) |
|
|
(64,316 |
) |
|
|
(557,056 |
) |
|
|
(2,337,468 |
) |
|
|
(216 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
(47,907 |
) |
|
|
(498,534 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
197,065 |
|
|
|
(38,544 |
) |
|
|
408,556 |
|
|
|
(1,483,336 |
) |
|
|
21,383 |
|
| Net assets at beginning of year |
|
|
252,099 |
|
|
|
841,231 |
|
|
|
4,257,509 |
|
|
|
33,165,971 |
|
|
|
22,469 |
|
| Net assets at end of year |
|
$ |
506,775 |
|
|
$ |
838,122 |
|
|
$ |
5,119,367 |
|
|
$ |
42,053,541 |
|
|
$ |
46,491 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
262,942 |
|
|
|
759,946 |
|
|
|
2,940,863 |
|
|
|
10,551,187 |
|
|
|
22,332 |
|
| Units purchased |
|
|
204,201 |
|
|
|
43,032 |
|
|
|
851,752 |
|
|
|
873,341 |
|
|
|
23,477 |
|
| Units redeemed |
|
|
(5,123 |
) |
|
|
(79,097 |
) |
|
|
(539,360 |
) |
|
|
(1,172,381 |
) |
|
|
(1,750 |
) |
| Units outstanding at end of year |
|
|
462,020 |
|
|
|
723,881 |
|
|
|
3,253,255 |
|
|
|
10,252,147 |
|
|
|
44,059 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 94 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Fid VIP
Energy,
Serv Cl 2 |
|
|
Fid VIP
Gro & Inc,
Serv Cl |
|
|
Fid VIP
Gro & Inc,
Serv Cl 2 |
|
|
Fid VIP
Gro Opp,
Serv Cl 2 |
|
|
Fid VIP
Intl Cap Appr,
Serv Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
5,907 |
|
|
$ |
5,186 |
|
|
$ |
43,876 |
|
|
$ |
(3,278 |
) |
|
$ |
(683 |
) |
| Net realized gain (loss) on sales of investments |
|
|
820 |
|
|
|
68,158 |
|
|
|
253,681 |
|
|
|
2,855 |
|
|
|
1,084 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
29,642 |
|
|
|
280,264 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(22,198 |
) |
|
|
27,096 |
|
|
|
537,913 |
|
|
|
112,859 |
|
|
|
21,953 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
(15,471 |
) |
|
|
130,082 |
|
|
|
1,115,734 |
|
|
|
112,436 |
|
|
|
22,354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
271,672 |
|
|
|
2,324 |
|
|
|
598,164 |
|
|
|
398,438 |
|
|
|
126,904 |
|
| Net transfers(1) |
|
|
57,391 |
|
|
|
60,000 |
|
|
|
234,615 |
|
|
|
128,129 |
|
|
|
8,849 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
749 |
|
|
|
(33,564 |
) |
|
|
— |
|
|
|
(5,647 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(8,265 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(6 |
) |
|
|
(219 |
) |
|
|
(3,858 |
) |
|
|
(52 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(504 |
) |
|
|
(111,840 |
) |
|
|
(560,250 |
) |
|
|
(1,552 |
) |
|
|
(1,420 |
) |
| Death benefits |
|
|
(2,148 |
) |
|
|
(33,443 |
) |
|
|
(128,358 |
) |
|
|
— |
|
|
|
— |
|
| Increase (decrease) from transactions |
|
|
326,405 |
|
|
|
(82,429 |
) |
|
|
98,484 |
|
|
|
524,963 |
|
|
|
128,686 |
|
| Net assets at beginning of year |
|
|
114,923 |
|
|
|
779,287 |
|
|
|
6,432,194 |
|
|
|
31,001 |
|
|
|
38,544 |
|
| Net assets at end of year |
|
$ |
425,857 |
|
|
$ |
826,940 |
|
|
$ |
7,646,412 |
|
|
$ |
668,400 |
|
|
$ |
189,584 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
97,576 |
|
|
|
241,874 |
|
|
|
1,797,259 |
|
|
|
33,685 |
|
|
|
40,530 |
|
| Units purchased |
|
|
270,567 |
|
|
|
18,570 |
|
|
|
575,510 |
|
|
|
637,263 |
|
|
|
133,516 |
|
| Units redeemed |
|
|
(1,873 |
) |
|
|
(40,956 |
) |
|
|
(200,258 |
) |
|
|
(120,085 |
) |
|
|
(12,005 |
) |
| Units outstanding at end of year |
|
|
366,270 |
|
|
|
219,488 |
|
|
|
2,172,511 |
|
|
|
550,863 |
|
|
|
162,041 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
95 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Fid VIP
Invest Gr,
Serv Cl 2 |
|
|
Fid VIP
Mid Cap,
Serv Cl |
|
|
Fid VIP
Mid Cap,
Serv Cl 2 |
|
|
Fid VIP
Overseas,
Serv Cl |
|
|
Fid VIP
Overseas,
Serv Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
20,997 |
|
|
$ |
(5,437 |
) |
|
$ |
(133,093 |
) |
|
$ |
183 |
|
|
$ |
(2,520 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(9 |
) |
|
|
8,771 |
|
|
|
(47,281 |
) |
|
|
2,963 |
|
|
|
53,431 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
42,835 |
|
|
|
663,372 |
|
|
|
535 |
|
|
|
5,924 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
24,567 |
|
|
|
155,049 |
|
|
|
2,455,762 |
|
|
|
31,921 |
|
|
|
336,920 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
45,555 |
|
|
|
201,218 |
|
|
|
2,938,760 |
|
|
|
35,602 |
|
|
|
393,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,161,725 |
|
|
|
17,529 |
|
|
|
1,096,086 |
|
|
|
2,330 |
|
|
|
33,381 |
|
| Net transfers(1) |
|
|
6,100 |
|
|
|
60,525 |
|
|
|
228,998 |
|
|
|
983 |
|
|
|
25,022 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
5,537 |
|
|
|
(41,580 |
) |
|
|
— |
|
|
|
(5,345 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
20,529 |
|
|
|
— |
|
|
|
(242 |
) |
| Contract charges |
|
|
(7 |
) |
|
|
(474 |
) |
|
|
(11,527 |
) |
|
|
(35 |
) |
|
|
(1,093 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(502 |
) |
|
|
(121,668 |
) |
|
|
(1,480,953 |
) |
|
|
(10,450 |
) |
|
|
(248,101 |
) |
| Death benefits |
|
|
— |
|
|
|
(1,952 |
) |
|
|
(295,019 |
) |
|
|
(4,698 |
) |
|
|
(11,453 |
) |
| Increase (decrease) from transactions |
|
|
1,167,316 |
|
|
|
(40,503 |
) |
|
|
(483,466 |
) |
|
|
(11,870 |
) |
|
|
(207,831 |
) |
| Net assets at beginning of year |
|
|
121,931 |
|
|
|
1,464,527 |
|
|
|
21,981,073 |
|
|
|
185,282 |
|
|
|
2,146,968 |
|
| Net assets at end of year |
|
$ |
1,334,802 |
|
|
$ |
1,625,242 |
|
|
$ |
24,436,367 |
|
|
$ |
209,014 |
|
|
$ |
2,332,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
127,071 |
|
|
|
268,407 |
|
|
|
4,950,486 |
|
|
|
105,309 |
|
|
|
1,035,770 |
|
| Units purchased |
|
|
1,211,631 |
|
|
|
14,710 |
|
|
|
392,951 |
|
|
|
1,693 |
|
|
|
36,246 |
|
| Units redeemed |
|
|
(8 |
) |
|
|
(21,226 |
) |
|
|
(442,569 |
) |
|
|
(7,334 |
) |
|
|
(139,713 |
) |
| Units outstanding at end of year |
|
|
1,338,694 |
|
|
|
261,891 |
|
|
|
4,900,868 |
|
|
|
99,668 |
|
|
|
932,303 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 96 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Fid VIP
Strategic Inc,
Serv Cl 2 |
|
|
Frank Global
Real Est,
Cl 2 |
|
|
Frank
Inc,
Cl 2 |
|
|
Frank
Inc,
Cl 4 |
|
|
Frank Mutual
Gbl Dis,
Cl 4 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
290,930 |
|
|
$ |
40,152 |
|
|
$ |
168,964 |
|
|
$ |
18,774 |
|
|
$ |
136 |
|
| Net realized gain (loss) on sales of investments |
|
|
(205,309 |
) |
|
|
(85,588 |
) |
|
|
(25,149 |
) |
|
|
(2,687 |
) |
|
|
(5 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
264,589 |
|
|
|
30,110 |
|
|
|
621 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
608,020 |
|
|
|
239,357 |
|
|
|
(90,216 |
) |
|
|
(8,510 |
) |
|
|
2,138 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
693,641 |
|
|
|
193,921 |
|
|
|
318,188 |
|
|
|
37,687 |
|
|
|
2,890 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,238,333 |
|
|
|
30,852 |
|
|
|
14,842 |
|
|
|
230,536 |
|
|
|
17,642 |
|
| Net transfers(1) |
|
|
(914,745 |
) |
|
|
14,215 |
|
|
|
344,550 |
|
|
|
125,124 |
|
|
|
(10 |
) |
| Transfers for policy loans |
|
|
739 |
|
|
|
(296 |
) |
|
|
(1,464 |
) |
|
|
(1,654 |
) |
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
638 |
|
|
|
(739 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(3,644 |
) |
|
|
(1,642 |
) |
|
|
(919 |
) |
|
|
(55 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(466,769 |
) |
|
|
(176,852 |
) |
|
|
(197,054 |
) |
|
|
(14,940 |
) |
|
|
— |
|
| Death benefits |
|
|
(114,167 |
) |
|
|
(7,644 |
) |
|
|
(212,155 |
) |
|
|
(6,729 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(259,615 |
) |
|
|
(142,106 |
) |
|
|
(52,200 |
) |
|
|
332,282 |
|
|
|
17,632 |
|
| Net assets at beginning of year |
|
|
8,815,773 |
|
|
|
2,014,747 |
|
|
|
4,307,964 |
|
|
|
345,891 |
|
|
|
10,763 |
|
| Net assets at end of year |
|
$ |
9,249,799 |
|
|
$ |
2,066,562 |
|
|
$ |
4,573,952 |
|
|
$ |
715,860 |
|
|
$ |
31,285 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
7,925,001 |
|
|
|
974,000 |
|
|
|
2,970,774 |
|
|
|
357,261 |
|
|
|
9,717 |
|
| Units purchased |
|
|
1,346,847 |
|
|
|
28,594 |
|
|
|
303,635 |
|
|
|
453,698 |
|
|
|
15,730 |
|
| Units redeemed |
|
|
(1,584,772 |
) |
|
|
(104,342 |
) |
|
|
(343,330 |
) |
|
|
(121,974 |
) |
|
|
— |
|
| Units outstanding at end of year |
|
|
7,687,076 |
|
|
|
898,252 |
|
|
|
2,931,079 |
|
|
|
688,985 |
|
|
|
25,447 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
97 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Frank Mutual
Shares,
Cl 2 |
|
|
Frank Sm
Cap Val,
Cl 2 |
|
|
Frank Sm
Cap Val,
Cl 4 |
|
|
GS VIT
Mid Cap Val,
Inst |
|
|
GS VIT
Multi-
Strategy Alt,
Advisor |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
63,501 |
|
|
$ |
(33,822 |
) |
|
$ |
(1,660 |
) |
|
$ |
8,719 |
|
|
$ |
31,072 |
|
| Net realized gain (loss) on sales of investments |
|
|
(131,918 |
) |
|
|
(160,405 |
) |
|
|
502 |
|
|
|
(11,409 |
) |
|
|
(851 |
) |
| Distributions from capital gains |
|
|
651,128 |
|
|
|
406,573 |
|
|
|
8,450 |
|
|
|
155,995 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
327,443 |
|
|
|
582,734 |
|
|
|
25,314 |
|
|
|
475,554 |
|
|
|
5,710 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
910,154 |
|
|
|
795,080 |
|
|
|
32,606 |
|
|
|
628,859 |
|
|
|
35,931 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
121,064 |
|
|
|
171,610 |
|
|
|
261,785 |
|
|
|
34,468 |
|
|
|
1,180 |
|
| Net transfers(1) |
|
|
25,171 |
|
|
|
12,646 |
|
|
|
81,544 |
|
|
|
9,569 |
|
|
|
12,219 |
|
| Transfers for policy loans |
|
|
(2,973 |
) |
|
|
(9,828 |
) |
|
|
— |
|
|
|
2,237 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
7,699 |
|
|
|
— |
|
|
|
13,670 |
|
|
|
— |
|
| Contract charges |
|
|
(2,911 |
) |
|
|
(3,002 |
) |
|
|
— |
|
|
|
(4,804 |
) |
|
|
(59 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(758,849 |
) |
|
|
(318,315 |
) |
|
|
(823 |
) |
|
|
(304,876 |
) |
|
|
(28,229 |
) |
| Death benefits |
|
|
(292,820 |
) |
|
|
(191,242 |
) |
|
|
(3,798 |
) |
|
|
(34,244 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(911,318 |
) |
|
|
(330,432 |
) |
|
|
338,708 |
|
|
|
(283,980 |
) |
|
|
(14,889 |
) |
| Net assets at beginning of year |
|
|
7,817,895 |
|
|
|
7,114,040 |
|
|
|
36,922 |
|
|
|
6,210,746 |
|
|
|
574,239 |
|
| Net assets at end of year |
|
$ |
7,816,731 |
|
|
$ |
7,578,688 |
|
|
$ |
408,236 |
|
|
$ |
6,555,625 |
|
|
$ |
595,281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
3,453,108 |
|
|
|
1,755,754 |
|
|
|
36,203 |
|
|
|
989,057 |
|
|
|
613,639 |
|
| Units purchased |
|
|
89,503 |
|
|
|
76,619 |
|
|
|
339,370 |
|
|
|
10,256 |
|
|
|
15,897 |
|
| Units redeemed |
|
|
(494,415 |
) |
|
|
(163,940 |
) |
|
|
(5,149 |
) |
|
|
(55,558 |
) |
|
|
(29,405 |
) |
| Units outstanding at end of year |
|
|
3,048,196 |
|
|
|
1,668,433 |
|
|
|
370,424 |
|
|
|
943,755 |
|
|
|
600,131 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 98 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
GS VIT
Multi-
Strategy Alt,
Serv |
|
|
GS VIT
Sm Cap
Eq Insights,
Inst |
|
|
GS VIT
Sm Cap
Eq Insights,
Serv |
|
|
GS VIT
U.S. Eq
Insights,
Inst |
|
|
Invesco VI
Am Fran,
Ser I |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
5,590 |
|
|
$ |
234 |
|
|
$ |
243 |
|
|
$ |
(8,311 |
) |
|
$ |
(1,957 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(44 |
) |
|
|
(694 |
) |
|
|
25 |
|
|
|
38,429 |
|
|
|
(13,052 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,991 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(1,682 |
) |
|
|
26,428 |
|
|
|
13,509 |
|
|
|
703,530 |
|
|
|
96,872 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
3,864 |
|
|
|
25,968 |
|
|
|
13,777 |
|
|
|
733,648 |
|
|
|
86,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
75,000 |
|
|
|
1,955 |
|
|
|
66,850 |
|
|
|
30,238 |
|
|
|
4,196 |
|
| Net transfers(1) |
|
|
1,895 |
|
|
|
— |
|
|
|
6,384 |
|
|
|
(41,203 |
) |
|
|
(143,989 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
(1,614 |
) |
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16,778 |
|
|
|
— |
|
| Contract charges |
|
|
(2 |
) |
|
|
(33 |
) |
|
|
(5 |
) |
|
|
(5,288 |
) |
|
|
(111 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(145 |
) |
|
|
(9,393 |
) |
|
|
(799 |
) |
|
|
(401,925 |
) |
|
|
(3,743 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(38,580 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
76,748 |
|
|
|
(7,471 |
) |
|
|
70,816 |
|
|
|
(439,980 |
) |
|
|
(143,647 |
) |
| Net assets at beginning of year |
|
|
14,218 |
|
|
|
145,090 |
|
|
|
34,597 |
|
|
|
3,399,122 |
|
|
|
309,181 |
|
| Net assets at end of year |
|
$ |
94,830 |
|
|
$ |
163,587 |
|
|
$ |
119,190 |
|
|
$ |
3,692,790 |
|
|
$ |
252,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
13,553 |
|
|
|
40,519 |
|
|
|
35,315 |
|
|
|
1,100,753 |
|
|
|
115,809 |
|
| Units purchased |
|
|
79,786 |
|
|
|
503 |
|
|
|
72,634 |
|
|
|
10,022 |
|
|
|
1,329 |
|
| Units redeemed |
|
|
(1,773 |
) |
|
|
(2,434 |
) |
|
|
(2,099 |
) |
|
|
(143,814 |
) |
|
|
(49,873 |
) |
| Units outstanding at end of year |
|
|
91,566 |
|
|
|
38,588 |
|
|
|
105,850 |
|
|
|
966,961 |
|
|
|
67,265 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
99 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Invesco VI
Am Fran,
Ser II |
|
|
Invesco VI
Bal Risk
Alloc,
Ser II |
|
|
Invesco VI
Comstock,
Ser II |
|
|
Invesco VI
Core Eq,
Ser I |
|
|
Invesco VI
Core Plus
Bond, Ser II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(15,356 |
) |
|
$ |
(13,956 |
) |
|
$ |
27,143 |
|
|
$ |
(27,080 |
) |
|
$ |
6,510 |
|
| Net realized gain (loss) on sales of investments |
|
|
(26,642 |
) |
|
|
(31,959 |
) |
|
|
131,568 |
|
|
|
(9,969 |
) |
|
|
(56 |
) |
| Distributions from capital gains |
|
|
40,602 |
|
|
|
— |
|
|
|
460,890 |
|
|
|
122,902 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
551,630 |
|
|
|
110,487 |
|
|
|
(182,222 |
) |
|
|
931,919 |
|
|
|
12,193 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
550,234 |
|
|
|
64,572 |
|
|
|
437,379 |
|
|
|
1,017,772 |
|
|
|
18,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
628 |
|
|
|
66,629 |
|
|
|
29,393 |
|
|
|
19,491 |
|
|
|
267,478 |
|
| Net transfers(1) |
|
|
(49,986 |
) |
|
|
84,911 |
|
|
|
(85,986 |
) |
|
|
9,152 |
|
|
|
19,661 |
|
| Transfers for policy loans |
|
|
2,538 |
|
|
|
— |
|
|
|
(4,037 |
) |
|
|
1,749 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,113 |
) |
|
|
— |
|
| Contract charges |
|
|
(4,877 |
) |
|
|
(175 |
) |
|
|
(8,530 |
) |
|
|
(1,843 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(85,422 |
) |
|
|
(85,146 |
) |
|
|
(339,686 |
) |
|
|
(377,751 |
) |
|
|
(2,081 |
) |
| Death benefits |
|
|
(28,125 |
) |
|
|
— |
|
|
|
(29,049 |
) |
|
|
(97,607 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(165,244 |
) |
|
|
66,219 |
|
|
|
(437,895 |
) |
|
|
(450,922 |
) |
|
|
285,058 |
|
| Net assets at beginning of year |
|
|
1,465,576 |
|
|
|
1,192,577 |
|
|
|
4,182,399 |
|
|
|
4,857,804 |
|
|
|
118,219 |
|
| Net assets at end of year |
|
$ |
1,850,566 |
|
|
$ |
1,323,368 |
|
|
$ |
4,181,883 |
|
|
$ |
5,424,654 |
|
|
$ |
421,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
565,542 |
|
|
|
986,420 |
|
|
|
1,336,766 |
|
|
|
1,202,022 |
|
|
|
124,495 |
|
| Units purchased |
|
|
1,782 |
|
|
|
134,433 |
|
|
|
12,952 |
|
|
|
6,725 |
|
|
|
304,276 |
|
| Units redeemed |
|
|
(55,080 |
) |
|
|
(79,997 |
) |
|
|
(146,051 |
) |
|
|
(106,597 |
) |
|
|
(1,963 |
) |
| Units outstanding at end of year |
|
|
512,244 |
|
|
|
1,040,856 |
|
|
|
1,203,667 |
|
|
|
1,102,150 |
|
|
|
426,808 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 100 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Invesco VI
Dis Mid
Cap Gro,
Ser I |
|
|
Invesco VI
Dis Mid
Cap Gro,
Ser II |
|
|
Invesco VI
Div Divd,
Ser I |
|
|
Invesco VI
Div Divd,
Ser II |
|
|
Invesco VI
EQV Intl Eq,
Ser II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(5,185 |
) |
|
$ |
(3,842 |
) |
|
$ |
7,134 |
|
|
$ |
2,063 |
|
|
$ |
(17,232 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(5,159 |
) |
|
|
(10,103 |
) |
|
|
1,269 |
|
|
|
3,946 |
|
|
|
(17,930 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
55,749 |
|
|
|
22,454 |
|
|
|
1,402 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
84,557 |
|
|
|
58,439 |
|
|
|
(11,503 |
) |
|
|
(7,923 |
) |
|
|
323,453 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
74,213 |
|
|
|
44,494 |
|
|
|
52,649 |
|
|
|
20,540 |
|
|
|
289,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
4,873 |
|
|
|
14,119 |
|
|
|
4,139 |
|
|
|
6,229 |
|
|
|
23,780 |
|
| Net transfers(1) |
|
|
4,437 |
|
|
|
(183 |
) |
|
|
6,906 |
|
|
|
(1,657 |
) |
|
|
197 |
|
| Transfers for policy loans |
|
|
(218 |
) |
|
|
— |
|
|
|
112 |
|
|
|
— |
|
|
|
4,889 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,966 |
) |
| Contract charges |
|
|
(266 |
) |
|
|
(456 |
) |
|
|
(151 |
) |
|
|
(405 |
) |
|
|
(1,752 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(14,059 |
) |
|
|
(19,098 |
) |
|
|
(8,843 |
) |
|
|
(34,934 |
) |
|
|
(173,252 |
) |
| Death benefits |
|
|
— |
|
|
|
(2,640 |
) |
|
|
(62 |
) |
|
|
— |
|
|
|
(43,756 |
) |
| Increase (decrease) from transactions |
|
|
(5,233 |
) |
|
|
(8,258 |
) |
|
|
2,101 |
|
|
|
(30,767 |
) |
|
|
(194,860 |
) |
| Net assets at beginning of year |
|
|
608,753 |
|
|
|
382,996 |
|
|
|
651,887 |
|
|
|
293,668 |
|
|
|
1,850,949 |
|
| Net assets at end of year |
|
$ |
677,733 |
|
|
$ |
419,232 |
|
|
$ |
706,637 |
|
|
$ |
283,441 |
|
|
$ |
1,945,782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
499,339 |
|
|
|
317,219 |
|
|
|
261,642 |
|
|
|
121,032 |
|
|
|
968,137 |
|
| Units purchased |
|
|
7,367 |
|
|
|
12,481 |
|
|
|
4,399 |
|
|
|
3,810 |
|
|
|
31,951 |
|
| Units redeemed |
|
|
(11,387 |
) |
|
|
(19,095 |
) |
|
|
(3,452 |
) |
|
|
(16,264 |
) |
|
|
(127,052 |
) |
| Units outstanding at end of year |
|
|
495,319 |
|
|
|
310,605 |
|
|
|
262,589 |
|
|
|
108,578 |
|
|
|
873,036 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
101 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Invesco VI
Global,
Ser II |
|
|
Invesco VI
Gbl Strat Inc,
Ser II |
|
|
Invesco VI
Hlth,
Ser II |
|
|
Invesco VI
Main St,
Ser II |
|
|
Invesco VI
Mn St Sm Cap,
Ser II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(76,225 |
) |
|
$ |
(60,941 |
) |
|
$ |
(13,139 |
) |
|
$ |
(719 |
) |
|
$ |
(4,622 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(113,628 |
) |
|
|
(150,993 |
) |
|
|
(26,704 |
) |
|
|
(6,421 |
) |
|
|
15,697 |
|
| Distributions from capital gains |
|
|
857,611 |
|
|
|
— |
|
|
|
— |
|
|
|
10,459 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
1,440,402 |
|
|
|
679,215 |
|
|
|
61,374 |
|
|
|
27,416 |
|
|
|
866,147 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
2,108,160 |
|
|
|
467,281 |
|
|
|
21,531 |
|
|
|
30,735 |
|
|
|
877,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
267,727 |
|
|
|
52,554 |
|
|
|
19,557 |
|
|
|
2,273 |
|
|
|
433,086 |
|
| Net transfers(1) |
|
|
(665,551 |
) |
|
|
2,873 |
|
|
|
(5,109 |
) |
|
|
(677 |
) |
|
|
139,988 |
|
| Transfers for policy loans |
|
|
7,608 |
|
|
|
(2,637 |
) |
|
|
635 |
|
|
|
— |
|
|
|
(2,370 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(8 |
) |
|
|
(3,751 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,209 |
) |
|
|
(9,166 |
) |
|
|
(624 |
) |
|
|
(99 |
) |
|
|
(1,013 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(549,118 |
) |
|
|
(428,960 |
) |
|
|
(150,425 |
) |
|
|
(19,213 |
) |
|
|
(269,123 |
) |
| Death benefits |
|
|
(81,705 |
) |
|
|
(88,008 |
) |
|
|
(5,076 |
) |
|
|
— |
|
|
|
(53,483 |
) |
| Increase (decrease) from transactions |
|
|
(1,022,248 |
) |
|
|
(473,352 |
) |
|
|
(144,793 |
) |
|
|
(17,716 |
) |
|
|
247,085 |
|
| Net assets at beginning of year |
|
|
6,813,061 |
|
|
|
6,457,231 |
|
|
|
1,456,992 |
|
|
|
146,594 |
|
|
|
5,129,314 |
|
| Net assets at end of year |
|
$ |
7,898,973 |
|
|
$ |
6,451,160 |
|
|
$ |
1,333,730 |
|
|
$ |
159,613 |
|
|
$ |
6,253,621 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
2,661,724 |
|
|
|
4,643,195 |
|
|
|
463,064 |
|
|
|
101,508 |
|
|
|
1,516,878 |
|
| Units purchased |
|
|
104,681 |
|
|
|
66,822 |
|
|
|
13,495 |
|
|
|
1,431 |
|
|
|
172,698 |
|
| Units redeemed |
|
|
(450,764 |
) |
|
|
(395,514 |
) |
|
|
(58,513 |
) |
|
|
(12,079 |
) |
|
|
(95,827 |
) |
| Units outstanding at end of year |
|
|
2,315,641 |
|
|
|
4,314,503 |
|
|
|
418,046 |
|
|
|
90,860 |
|
|
|
1,593,749 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 102 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Invesco VI
Tech,
Ser I |
|
|
Invesco VI
Tech,
Ser II |
|
|
Janus
Henderson
VIT Bal,
Serv |
|
|
Janus
Henderson
VIT Enter,
Serv |
|
|
Janus
Henderson
VIT Flex Bd,
Serv |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(9,002 |
) |
|
$ |
(2,229 |
) |
|
$ |
100,498 |
|
|
$ |
(3,618 |
) |
|
$ |
48,993 |
|
| Net realized gain (loss) on sales of investments |
|
|
(16,066 |
) |
|
|
1,257 |
|
|
|
60,551 |
|
|
|
8,048 |
|
|
|
(31,492 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
36,536 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
415,368 |
|
|
|
89,369 |
|
|
|
1,773,574 |
|
|
|
30,586 |
|
|
|
64,531 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
390,300 |
|
|
|
88,397 |
|
|
|
1,934,623 |
|
|
|
71,552 |
|
|
|
82,032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
8,501 |
|
|
|
392,979 |
|
|
|
949,672 |
|
|
|
2,200 |
|
|
|
500,669 |
|
| Net transfers(1) |
|
|
27,637 |
|
|
|
(650 |
) |
|
|
1,763,077 |
|
|
|
— |
|
|
|
268,097 |
|
| Transfers for policy loans |
|
|
(942 |
) |
|
|
(1,566 |
) |
|
|
(49,783 |
) |
|
|
209 |
|
|
|
121 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,449 |
) |
|
|
— |
|
|
|
(3,121 |
) |
|
|
(160 |
) |
|
|
(317 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(51,540 |
) |
|
|
(784 |
) |
|
|
(603,764 |
) |
|
|
(16,006 |
) |
|
|
(210,692 |
) |
| Death benefits |
|
|
(6,473 |
) |
|
|
(2,713 |
) |
|
|
(101,518 |
) |
|
|
(38,554 |
) |
|
|
(2,438 |
) |
| Increase (decrease) from transactions |
|
|
(24,266 |
) |
|
|
387,266 |
|
|
|
1,954,563 |
|
|
|
(52,311 |
) |
|
|
555,440 |
|
| Net assets at beginning of year |
|
|
858,838 |
|
|
|
26,394 |
|
|
|
13,132,612 |
|
|
|
453,054 |
|
|
|
1,503,773 |
|
| Net assets at end of year |
|
$ |
1,224,872 |
|
|
$ |
502,057 |
|
|
$ |
17,021,798 |
|
|
$ |
472,295 |
|
|
$ |
2,141,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
366,867 |
|
|
|
30,894 |
|
|
|
10,241,261 |
|
|
|
182,247 |
|
|
|
1,503,370 |
|
| Units purchased |
|
|
12,874 |
|
|
|
528,859 |
|
|
|
2,019,539 |
|
|
|
874 |
|
|
|
760,993 |
|
| Units redeemed |
|
|
(19,199 |
) |
|
|
(131,348 |
) |
|
|
(607,731 |
) |
|
|
(20,029 |
) |
|
|
(208,409 |
) |
| Units outstanding at end of year |
|
|
360,542 |
|
|
|
428,405 |
|
|
|
11,653,069 |
|
|
|
163,092 |
|
|
|
2,055,954 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
103 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Janus
Henderson
VIT Forty,
Serv |
|
|
Janus
Hend VIT
Gbl Tech
Innov,
Srv |
|
|
Janus
Henderson
VIT Overseas,
Serv |
|
|
Janus
Henderson
VIT Res,
Serv |
|
|
Lazard Ret
Emer
Mkts Eq,
Serv |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(768 |
) |
|
$ |
(8,050 |
) |
|
$ |
6,016 |
|
|
$ |
(26,998) |
|
|
$ |
428 |
|
| Net realized gain (loss) on sales of investments |
|
|
693 |
|
|
|
16,589 |
|
|
|
16,893 |
|
|
|
77,493 |
|
|
|
(7 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
23,744 |
|
|
|
398,130 |
|
|
|
70,707 |
|
|
|
919,668 |
|
|
|
928 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
23,669 |
|
|
|
406,669 |
|
|
|
93,616 |
|
|
|
970,163 |
|
|
|
1,349 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
102,907 |
|
|
|
156,114 |
|
|
|
183,421 |
|
|
|
17,452 |
|
|
|
11,501 |
|
| Net transfers(1) |
|
|
11,867 |
|
|
|
42,225 |
|
|
|
22,945 |
|
|
|
21,879 |
|
|
|
52 |
|
| Transfers for policy loans |
|
|
(2,702 |
) |
|
|
22 |
|
|
|
(29 |
) |
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(6 |
) |
|
|
(210 |
) |
|
|
(341 |
) |
|
|
(3,533 |
) |
|
|
— |
|
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(182 |
) |
|
|
(31,294 |
) |
|
|
(77,205 |
) |
|
|
(333,842 |
) |
|
|
(103 |
) |
| Death benefits |
|
|
— |
|
|
|
(53,227 |
) |
|
|
(50,166 |
) |
|
|
(53,280 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
111,884 |
|
|
|
113,630 |
|
|
|
78,625 |
|
|
|
(351,324 |
) |
|
|
11,450 |
|
| Net assets at beginning of year |
|
|
40,922 |
|
|
|
696,646 |
|
|
|
960,541 |
|
|
|
2,493,404 |
|
|
|
1,557 |
|
| Net assets at end of year |
|
$ |
176,475 |
|
|
$ |
1,216,945 |
|
|
$ |
1,132,782 |
|
|
$ |
3,112,243 |
|
|
$ |
14,356 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
44,644 |
|
|
|
317,202 |
|
|
|
506,234 |
|
|
|
901,839 |
|
|
|
— |
|
| Units purchased |
|
|
103,665 |
|
|
|
238,005 |
|
|
|
122,204 |
|
|
|
69,112 |
|
|
|
11,226 |
|
| Units redeemed |
|
|
(3,145 |
) |
|
|
(72,965 |
) |
|
|
(62,765 |
) |
|
|
(173,999 |
) |
|
|
— |
|
| Units outstanding at end of year |
|
|
145,164 |
|
|
|
482,242 |
|
|
|
565,673 |
|
|
|
796,952 |
|
|
|
11,226 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 104 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Lazard Ret
Global
Dyn MA,
Serv |
|
|
Lord Abt
Bond Debenture,
Cl VC |
|
|
Lord Abt
Short Dur Inc,
Cl VC |
|
|
LVIP AC
Intl,
Serv Cl |
|
|
LVIP AC
Intl,
Std Cl II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(11,905 |
) |
|
$ |
24,671 |
|
|
$ |
13,753 |
|
|
$ |
2,618 |
|
|
$ |
1,005 |
|
| Net realized gain (loss) on sales of investments |
|
|
(5,050 |
) |
|
|
(350 |
) |
|
|
113 |
|
|
|
6,130 |
|
|
|
3,785 |
|
| Distributions from capital gains |
|
|
54,018 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
55,169 |
|
|
|
(6,457 |
) |
|
|
(2,329 |
) |
|
|
70,088 |
|
|
|
15,721 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
92,232 |
|
|
|
17,864 |
|
|
|
11,537 |
|
|
|
78,...836 |
|
|
|
20,511 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
— |
|
|
|
453,137 |
|
|
|
96,081 |
|
|
|
48,262 |
|
|
|
— |
|
| Net transfers(1) |
|
|
(16,179 |
) |
|
|
14,013 |
|
|
|
91,909 |
|
|
|
30,494 |
|
|
|
172 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
(3,359 |
) |
|
|
— |
|
|
|
179 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(190 |
) |
|
|
— |
|
| Contract charges |
|
|
(92 |
) |
|
|
(33 |
) |
|
|
(27 |
) |
|
|
(246 |
) |
|
|
(38 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(38,019 |
) |
|
|
(818 |
) |
|
|
(1,114 |
) |
|
|
(87,336 |
) |
|
|
(45,259 |
) |
| Death benefits |
|
|
(632 |
) |
|
|
(10,273 |
) |
|
|
(5,073 |
) |
|
|
(5,248 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(54,922 |
) |
|
|
456,026 |
|
|
|
178,417 |
|
|
|
(14,264 |
) |
|
|
(44,946 |
) |
| Net assets at beginning of year |
|
|
1,007,292 |
|
|
|
84,867 |
|
|
|
180,060 |
|
|
|
674,467 |
|
|
|
185,201 |
|
| Net assets at end of year |
|
$ |
1,044,602 |
|
|
$ |
558,757 |
|
|
$ |
370,014 |
|
|
$ |
739,039 |
|
|
$ |
160,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
764,014 |
|
|
|
88,537 |
|
|
|
183,235 |
|
|
|
317,677 |
|
|
|
121,930 |
|
| Units purchased |
|
|
1,650 |
|
|
|
683,152 |
|
|
|
189,555 |
|
|
|
50,089 |
|
|
|
105 |
|
| Units redeemed |
|
|
(41,230 |
) |
|
|
(214,060 |
) |
|
|
(9,453 |
) |
|
|
(41,343 |
) |
|
|
(26,538 |
) |
| Units outstanding at end of year |
|
|
724,434 |
|
|
|
557,629 |
|
|
|
363,337 |
|
|
|
326,423 |
|
|
|
95,497 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
105 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
LVIP AC
Mid Cap Val,
Serv Cl |
|
|
LVIP AC
Ultra,
Serv Cl |
|
|
LVIP AC
Val,
Serv Cl |
|
|
LVIP AC
Val,
Std Cl II |
|
|
LVIP JPM
US Eq,
Serv Cl(2) |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
27,880 |
|
|
$ |
(23,247 |
) |
|
$ |
159,591 |
|
|
$ |
8,805 |
|
|
$ |
(26 |
) |
| Net realized gain (loss) on sales of investments |
|
|
5,198 |
|
|
|
33,341 |
|
|
|
226,016 |
|
|
|
32,230 |
|
|
|
156 |
|
| Distributions from capital gains |
|
|
244,080 |
|
|
|
176,389 |
|
|
|
1,012,555 |
|
|
|
45,814 |
|
|
|
789 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
(154,742 |
) |
|
|
655,251 |
|
|
|
(398,697 |
) |
|
|
(50,028 |
) |
|
|
23,110 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
122,416 |
|
|
|
841,734 |
|
|
|
999,465 |
|
|
|
36,821 |
|
|
|
24,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
417,787 |
|
|
|
7,074 |
|
|
|
656,811 |
|
|
|
11,254 |
|
|
|
24,978 |
|
| Net transfers(1) |
|
|
10,142 |
|
|
|
193,787 |
|
|
|
104,469 |
|
|
|
21 |
|
|
|
130,587 |
|
| Transfers for policy loans |
|
|
(5,329 |
) |
|
|
(3,269 |
) |
|
|
659 |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(2,281 |
) |
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(1,796 |
) |
|
|
(1,708 |
) |
|
|
(4,081 |
) |
|
|
(230 |
) |
|
|
(40 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(115,812 |
) |
|
|
(227,237 |
) |
|
|
(886,789 |
) |
|
|
(138,006 |
) |
|
|
— |
|
| Death benefits |
|
|
(1,657 |
) |
|
|
(46,481 |
) |
|
|
(50,287 |
) |
|
|
(432 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
303,335 |
|
|
|
(77,834 |
) |
|
|
(181,499 |
) |
|
|
(127,393 |
) |
|
|
155,525 |
|
| Net assets at beginning of year |
|
|
2,096,455 |
|
|
|
2,061,191 |
|
|
|
12,773,717 |
|
|
|
586,408 |
|
|
|
— |
|
| Net assets at end of year |
|
$ |
2,522,206 |
|
|
$ |
2,825,091 |
|
|
$ |
13,591,683 |
|
|
$ |
495,836 |
|
|
$ |
179,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
644,040 |
|
|
|
494,381 |
|
|
|
3,579,711 |
|
|
|
115,231 |
|
|
|
— |
|
| Units purchased |
|
|
139,966 |
|
|
|
41,962 |
|
|
|
257,416 |
|
|
|
2,178 |
|
|
|
152,810 |
|
| Units redeemed |
|
|
(44,539 |
) |
|
|
(59,469 |
) |
|
|
(283,071 |
) |
|
|
(26,903 |
) |
|
|
(37 |
) |
| Units outstanding at end of year |
|
|
739,467 |
|
|
|
476,874 |
|
|
|
3,554,056 |
|
|
|
90,506 |
|
|
|
152,773 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
| (2) |
For the period April 28, 2023 (commencement of operations) to December 31, 2023. |
See accompanying notes to financial statements.
|
|
|
|
|
| 106 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Mac VIP
Asset Strategy,
Serv Cl |
|
|
Mac VIP
for Inc,
Serv Cl |
|
|
MFS
Gbl Real Est,
Serv Cl |
|
|
MFS
Intl Gro,
Serv Cl |
|
|
MFS Mass
Inv Gro Stock,
Serv Cl |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
5,950 |
|
|
$ |
1,888 |
|
|
$ |
(340 |
) |
|
$ |
(11 |
) |
|
$ |
(28,072 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(9,653 |
) |
|
|
12 |
|
|
|
45 |
|
|
|
601 |
|
|
|
14,100 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
6,280 |
|
|
|
2,305 |
|
|
|
167,077 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
70,054 |
|
|
|
6,183 |
|
|
|
4,388 |
|
|
|
8,527 |
|
|
|
500,477 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
66,351 |
|
|
|
8,083 |
|
|
|
10,373 |
|
|
|
11,422 |
|
|
|
653,582 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,703 |
|
|
|
47,532 |
|
|
|
74,138 |
|
|
|
61,775 |
|
|
|
30,519 |
|
| Net transfers(1) |
|
|
(13,402 |
) |
|
|
(390 |
) |
|
|
2,261 |
|
|
|
7,612 |
|
|
|
(1,223 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,756 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(103 |
) |
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
|
|
(1,984 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(17,000 |
) |
|
|
(148 |
) |
|
|
(2,226 |
) |
|
|
(413 |
) |
|
|
(227,044 |
) |
| Death benefits |
|
|
(9,819 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(40,442 |
) |
| Increase (decrease) from transactions |
|
|
(38,621 |
) |
|
|
46,994 |
|
|
|
74,173 |
|
|
|
68,972 |
|
|
|
(241,930 |
) |
| Net assets at beginning of year |
|
|
546,242 |
|
|
|
40,583 |
|
|
|
37,241 |
|
|
|
47,239 |
|
|
|
3,024,190 |
|
| Net assets at end of year |
|
$ |
573,972 |
|
|
$ |
95,660 |
|
|
$ |
121,787 |
|
|
$ |
127,633 |
|
|
$ |
3,435,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
402,712 |
|
|
|
41,256 |
|
|
|
44,226 |
|
|
|
47,113 |
|
|
|
1,402,152 |
|
| Units purchased |
|
|
1,201 |
|
|
|
47,750 |
|
|
|
92,668 |
|
|
|
67,635 |
|
|
|
18,880 |
|
| Units redeemed |
|
|
(28,953 |
) |
|
|
(375 |
) |
|
|
(2,158 |
) |
|
|
(218 |
) |
|
|
(120,431 |
) |
| Units outstanding at end of year |
|
|
374,960 |
|
|
|
88,631 |
|
|
|
134,736 |
|
|
|
114,530 |
|
|
|
1,300,601 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
107 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
MFS
New Dis,
Serv Cl |
|
|
MFS
Research Intl,
Serv Cl |
|
|
MFS
Utilities,
Serv Cl |
|
|
MS
VIF Dis,
Cl II |
|
|
NB AMT
Sus Eq,
Cl S |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(12,479 |
) |
|
$ |
64 |
|
|
$ |
136,568 |
|
|
$ |
(34,438 |
) |
|
$ |
(11,316 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(134,728 |
) |
|
|
7 |
|
|
|
16,434 |
|
|
|
(858,183 |
) |
|
|
12,527 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
327,518 |
|
|
|
— |
|
|
|
19,073 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
326,050 |
|
|
|
1,212 |
|
|
|
(684,107 |
) |
|
|
2,068,423 |
|
|
|
242,188 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
178,843 |
|
|
|
1,283 |
|
|
|
(203,587 |
) |
|
|
1,175,802 |
|
|
|
262,472 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
14,822 |
|
|
|
19,030 |
|
|
|
343,138 |
|
|
|
310,140 |
|
|
|
18,368 |
|
| Net transfers(1) |
|
|
107,183 |
|
|
|
6,977 |
|
|
|
602,728 |
|
|
|
146,441 |
|
|
|
111,535 |
|
| Transfers for policy loans |
|
|
4,403 |
|
|
|
— |
|
|
|
415 |
|
|
|
1,399 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(680 |
) |
|
|
— |
|
|
|
(1,673 |
) |
|
|
(1,308 |
) |
|
|
(218 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(152,979 |
) |
|
|
(78 |
) |
|
|
(230,769 |
) |
|
|
(203,152 |
) |
|
|
(60,259 |
) |
| Death benefits |
|
|
(60,645 |
) |
|
|
— |
|
|
|
(359,981 |
) |
|
|
(46,497 |
) |
|
|
(24,068 |
) |
| Increase (decrease) from transactions |
|
|
(87,896 |
) |
|
|
25,929 |
|
|
|
353,861 |
|
|
|
207,023 |
|
|
|
45,358 |
|
| Net assets at beginning of year |
|
|
1,393,224 |
|
|
|
4,750 |
|
|
|
5,904,988 |
|
|
|
2,615,137 |
|
|
|
994,685 |
|
| Net assets at end of year |
|
$ |
1,484,171 |
|
|
$ |
31,962 |
|
|
$ |
6,055,262 |
|
|
$ |
3,997,962 |
|
|
$ |
1,302,515 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
444,205 |
|
|
|
3,669 |
|
|
|
1,415,905 |
|
|
|
1,012,179 |
|
|
|
323,478 |
|
| Units purchased |
|
|
31,653 |
|
|
|
24,814 |
|
|
|
242,953 |
|
|
|
176,225 |
|
|
|
41,549 |
|
| Units redeemed |
|
|
(65,453 |
) |
|
|
— |
|
|
|
(145,546 |
) |
|
|
(111,961 |
) |
|
|
(26,147 |
) |
| Units outstanding at end of year |
|
|
410,405 |
|
|
|
28,483 |
|
|
|
1,513,312 |
|
|
|
1,076,443 |
|
|
|
338,880 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 108 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
PIMCO VIT
All Asset,
Advisor Cl |
|
|
PIMCO VIT
Glb Man As Alloc,
Adv Cl |
|
|
PIMCO VIT
Tot Return,
Advisor Cl |
|
|
Put VT
Global Hlth
Care,
Cl IB |
|
|
Put VT
Intl Eq,
Cl IB |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
57,302 |
|
|
$ |
2,804 |
|
|
$ |
158,207 |
|
|
$ |
(7,568 |
) |
|
$ |
(3,321 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(118,962 |
) |
|
|
(10,511 |
) |
|
|
(58,530 |
) |
|
|
3,117 |
|
|
|
2,058 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
92,671 |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
269,579 |
|
|
|
37,820 |
|
|
|
217,916 |
|
|
|
9,879 |
|
|
|
69,356 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
207,919 |
|
|
|
30,113 |
|
|
|
317,593 |
|
|
|
98,099 |
|
|
|
68,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
161,789 |
|
|
|
— |
|
|
|
695,099 |
|
|
|
141,655 |
|
|
|
2,958 |
|
| Net transfers(1) |
|
|
46,486 |
|
|
|
(11,914 |
) |
|
|
429,691 |
|
|
|
49,193 |
|
|
|
4,493 |
|
| Transfers for policy loans |
|
|
(136 |
) |
|
|
— |
|
|
|
(3,725 |
) |
|
|
(853 |
) |
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(278 |
) |
| Contract charges |
|
|
(3,662 |
) |
|
|
(86 |
) |
|
|
(432 |
) |
|
|
(1,241 |
) |
|
|
(263 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(274,121 |
) |
|
|
(24,418 |
) |
|
|
(199,984 |
) |
|
|
(139,680 |
) |
|
|
(16,176 |
) |
| Death benefits |
|
|
(164,107 |
) |
|
|
— |
|
|
|
(35,790 |
) |
|
|
(1,738 |
) |
|
|
— |
|
| Increase (decrease) from transactions |
|
|
(233,751 |
) |
|
|
(36,418 |
) |
|
|
884,859 |
|
|
|
47,336 |
|
|
|
(9,266 |
) |
| Net assets at beginning of year |
|
|
3,172,708 |
|
|
|
278,135 |
|
|
|
6,166,424 |
|
|
|
1,190,584 |
|
|
|
389,265 |
|
| Net assets at end of year |
|
$ |
3,146,876 |
|
|
$ |
271,830 |
|
|
$ |
7,368,876 |
|
|
$ |
1,336,019 |
|
|
$ |
448,092 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,795,914 |
|
|
|
221,417 |
|
|
|
6,351,480 |
|
|
|
290,684 |
|
|
|
205,370 |
|
| Units purchased |
|
|
221,182 |
|
|
|
3,665 |
|
|
|
1,332,888 |
|
|
|
135,510 |
|
|
|
5,983 |
|
| Units redeemed |
|
|
(356,483 |
) |
|
|
(30,979 |
) |
|
|
(433,961 |
) |
|
|
(36,532 |
) |
|
|
(10,162 |
) |
| Units outstanding at end of year |
|
|
1,660,613 |
|
|
|
194,103 |
|
|
|
7,250,407 |
|
|
|
389,662 |
|
|
|
201,191 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
109 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Put VT
Intl Val,
Cl IB |
|
|
Put VT
Lg Cap Val,
Cl IB |
|
|
Put VT
Sus Fut,
Cl IB |
|
|
Put VT
Sus Leaders,
Cl IA |
|
|
Put VT
Sus Leaders,
Cl IB |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
12 |
|
|
$ |
1,112 |
|
|
$ |
(114 |
) |
|
$ |
(31,533 |
) |
|
$ |
(2,971 |
) |
| Net realized gain (loss) on sales of investments |
|
|
61 |
|
|
|
(27 |
) |
|
|
10 |
|
|
|
86,654 |
|
|
|
7,133 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
11,975 |
|
|
|
— |
|
|
|
187,574 |
|
|
|
27,679 |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
3,145 |
|
|
|
38,215 |
|
|
|
2,521 |
|
|
|
1,132,083 |
|
|
|
159,338 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
3,218 |
|
|
|
51,275 |
|
|
|
2,417 |
|
|
|
1,374,778 |
|
|
|
191,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,500 |
|
|
|
386,621 |
|
|
|
1,800 |
|
|
|
14,618 |
|
|
|
6,798 |
|
| Net transfers(1) |
|
|
12,810 |
|
|
|
75,117 |
|
|
|
(166 |
) |
|
|
895 |
|
|
|
(4,708 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,460 |
|
|
|
(4,244 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
37,051 |
|
|
|
— |
|
| Contract charges |
|
|
(11 |
) |
|
|
(43 |
) |
|
|
— |
|
|
|
(2,729 |
) |
|
|
(314 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(162 |
) |
|
|
(3,675 |
) |
|
|
(68 |
) |
|
|
(398,492 |
) |
|
|
(37,781 |
) |
| Death benefits |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(399,146 |
) |
|
|
(49,076 |
) |
| Increase (decrease) from transactions |
|
|
14,137 |
|
|
|
458,020 |
|
|
|
1,566 |
|
|
|
(746,343 |
) |
|
|
(89,325 |
) |
| Net assets at beginning of year |
|
|
13,216 |
|
|
|
88,731 |
|
|
|
7,568 |
|
|
|
6,061,073 |
|
|
|
828,388 |
|
| Net assets at end of year |
|
$ |
30,571 |
|
|
$ |
598,026 |
|
|
$ |
11,551 |
|
|
$ |
6,689,508 |
|
|
$ |
930,242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
11,786 |
|
|
|
86,323 |
|
|
|
7,405 |
|
|
|
1,301,543 |
|
|
|
211,427 |
|
| Units purchased |
|
|
13,284 |
|
|
|
435,893 |
|
|
|
1,978 |
|
|
|
3,187 |
|
|
|
1,526 |
|
| Units redeemed |
|
|
(446 |
) |
|
|
(3,081 |
) |
|
|
(155 |
) |
|
|
(161,491 |
) |
|
|
(22,696 |
) |
| Units outstanding at end of year |
|
|
24,624 |
|
|
|
519,135 |
|
|
|
9,228 |
|
|
|
1,143,239 |
|
|
|
190,257 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 110 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
Royce
Micro-Cap,
Invest Cl |
|
|
Temp
Global Bond,
Cl 2 |
|
|
Third Ave
VST Third Ave Value |
|
|
VanEck VIP
Global Gold,
Cl S |
|
|
VP
Aggr,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(2,657 |
) |
|
$ |
(13,442 |
) |
|
$ |
7,310 |
|
|
$ |
(9,992 |
) |
|
$ |
(367,577 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(2,799 |
) |
|
|
(33,664 |
) |
|
|
6,101 |
|
|
|
(24,097 |
) |
|
|
2,585,297 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
32,629 |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
55,134 |
|
|
|
69,493 |
|
|
|
43,900 |
|
|
|
108,803 |
|
|
|
3,135,240 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
49,678 |
|
|
|
22,387 |
|
|
|
89,940 |
|
|
|
74,714 |
|
|
|
5,352,960 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
2,260 |
|
|
|
10,246 |
|
|
|
60 |
|
|
|
157,547 |
|
|
|
3,125,274 |
|
| Net transfers(1) |
|
|
83 |
|
|
|
48,850 |
|
|
|
(5,891 |
) |
|
|
17,893 |
|
|
|
(856,343 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
5,537 |
|
|
|
— |
|
|
|
(41,514 |
) |
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(115 |
) |
|
|
(85 |
) |
|
|
(131 |
) |
|
|
(74 |
) |
|
|
(123,674 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(17,863 |
) |
|
|
(62,495 |
) |
|
|
(14,159 |
) |
|
|
(55,916 |
) |
|
|
(4,294,142 |
) |
| Death benefits |
|
|
(1,095 |
) |
|
|
(17,070 |
) |
|
|
(113 |
) |
|
|
(158,427 |
) |
|
|
(65,331 |
) |
| Increase (decrease) from transactions |
|
|
(16,730 |
) |
|
|
(20,554 |
) |
|
|
(14,697 |
) |
|
|
(38,977 |
) |
|
|
(2,255,730 |
) |
| Net assets at beginning of year |
|
|
286,135 |
|
|
|
1,288,175 |
|
|
|
459,673 |
|
|
|
912,490 |
|
|
|
35,279,236 |
|
| Net assets at end of year |
|
$ |
319,083 |
|
|
$ |
1,290,008 |
|
|
$ |
534,916 |
|
|
$ |
948,227 |
|
|
$ |
38,376,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
68,076 |
|
|
|
1,593,116 |
|
|
|
137,975 |
|
|
|
918,529 |
|
|
|
16,718,111 |
|
| Units purchased |
|
|
508 |
|
|
|
97,567 |
|
|
|
1,437 |
|
|
|
185,721 |
|
|
|
2,262,677 |
|
| Units redeemed |
|
|
(3,990 |
) |
|
|
(121,744 |
) |
|
|
(5,393 |
) |
|
|
(225,286 |
) |
|
|
(3,295,045 |
) |
| Units outstanding at end of year |
|
|
64,594 |
|
|
|
1,568,939 |
|
|
|
134,019 |
|
|
|
878,964 |
|
|
|
15,685,743 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
111 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
VP
Aggr,
Cl 4 |
|
|
VP
Conserv,
Cl 2 |
|
|
VP
Conserv,
Cl 4 |
|
|
VP Man
Risk,
Cl 2 |
|
|
VP Man
Risk US,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(323,673 |
) |
|
$ |
(267,353 |
) |
|
$ |
(213,224 |
) |
|
$ |
(89,817 |
) |
|
$ |
(296,425 |
) |
| Net realized gain (loss) on sales of investments |
|
|
1,738,261 |
|
|
|
292,941 |
|
|
|
357,623 |
|
|
|
72,408 |
|
|
|
113,306 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
3,773,024 |
|
|
|
1,781,396 |
|
|
|
1,361,291 |
|
|
|
968,847 |
|
|
|
3,965,056 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
5,187,612 |
|
|
|
1,806,984 |
|
|
|
1,505,690 |
|
|
|
951,438 |
|
|
|
3,781,937 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
580,889 |
|
|
|
1,046,632 |
|
|
|
55,014 |
|
|
|
192,139 |
|
|
|
188,044 |
|
| Net transfers(1) |
|
|
(863,154 |
) |
|
|
(851,794 |
) |
|
|
(38,624 |
) |
|
|
(194,285 |
) |
|
|
426,972 |
|
| Transfers for policy loans |
|
|
(37,840 |
) |
|
|
8,694 |
|
|
|
3,730 |
|
|
|
— |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(197,924 |
) |
|
|
(245,840 |
) |
|
|
(149,840 |
) |
|
|
(150,296 |
) |
|
|
(454,060 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(2,039,205 |
) |
|
|
(2,393,503 |
) |
|
|
(1,815,398 |
) |
|
|
(194,359 |
) |
|
|
(978,748 |
) |
| Death benefits |
|
|
(19,654 |
) |
|
|
(525,522 |
) |
|
|
(595,399 |
) |
|
|
(22,943 |
) |
|
|
(376,678 |
) |
| Increase (decrease) from transactions |
|
|
(2,576,888 |
) |
|
|
(2,961,333 |
) |
|
|
(2,540,517 |
) |
|
|
(369,744 |
) |
|
|
(1,194,470 |
) |
| Net assets at beginning of year |
|
|
33,389,733 |
|
|
|
26,274,225 |
|
|
|
21,890,274 |
|
|
|
8,684,655 |
|
|
|
28,892,386 |
|
| Net assets at end of year |
|
$ |
36,000,457 |
|
|
$ |
25,119,876 |
|
|
$ |
20,855,447 |
|
|
$ |
9,266,349 |
|
|
$ |
31,479,853 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
15,642,489 |
|
|
|
21,162,693 |
|
|
|
17,531,650 |
|
|
|
8,135,855 |
|
|
|
24,762,261 |
|
| Units purchased |
|
|
255,176 |
|
|
|
1,161,896 |
|
|
|
285,164 |
|
|
|
176,053 |
|
|
|
563,914 |
|
| Units redeemed |
|
|
(1,375,805 |
) |
|
|
(3,470,324 |
) |
|
|
(2,250,191 |
) |
|
|
(502,704 |
) |
|
|
(1,536,173 |
) |
| Units outstanding at end of year |
|
|
14,521,860 |
|
|
|
18,854,265 |
|
|
|
15,566,623 |
|
|
|
7,809,204 |
|
|
|
23,790,002 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 112 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
VP Man
Vol Conserv,
Cl 2 |
|
|
VP Man
Vol Conserv Gro,
Cl 2 |
|
|
VP Man
Vol Gro, Cl 2 |
|
|
VP Man
Vol Mod Gro, Cl 2 |
|
|
VP
Mod, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(421,930 |
) |
|
$ |
(815,310 |
) |
|
$ |
(5,599,402) |
|
|
$ |
(8,425,392) |
|
|
$ |
(4,100,682 |
) |
| Net realized gain (loss) on sales of investments |
|
|
4,416 |
|
|
|
1,620,574 |
|
|
|
11,648,841 |
|
|
|
23,748,033 |
|
|
|
14,081,055 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
2,969,022 |
|
|
|
5,774,272 |
|
|
|
64,974,582 |
|
|
|
71,066,648 |
|
|
|
34,631,169 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
2,551,508 |
|
|
|
6,579,536 |
|
|
|
71,024,021 |
|
|
|
86,389,289 |
|
|
|
44,611,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
34,180 |
|
|
|
236,086 |
|
|
|
995,438 |
|
|
|
2,851,554 |
|
|
|
9,317,509 |
|
| Net transfers(1) |
|
|
(1,714,486 |
) |
|
|
(6,483,653 |
) |
|
|
(280,901 |
) |
|
|
(4,915,810 |
) |
|
|
3,034,392 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,823 |
|
|
|
36,708 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
63,703 |
|
| Contract charges |
|
|
(621,802 |
) |
|
|
(1,033,298 |
) |
|
|
(8,412,009 |
) |
|
|
(12,281,535 |
) |
|
|
(3,822,521 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(2,561,575 |
) |
|
|
(4,195,879 |
) |
|
|
(19,801,174 |
) |
|
|
(56,583,111 |
) |
|
|
(27,460,692 |
) |
| Death benefits |
|
|
(718,145 |
) |
|
|
(1,133,197 |
) |
|
|
(5,130,336 |
) |
|
|
(7,007,660 |
) |
|
|
(10,350,641 |
) |
| Increase (decrease) from transactions |
|
|
(5,581,828 |
) |
|
|
(12,609,941 |
) |
|
|
(32,628,982 |
) |
|
|
(77,934,739 |
) |
|
|
(29,181,542 |
) |
| Net assets at beginning of year |
|
|
42,398,093 |
|
|
|
80,818,146 |
|
|
|
545,865,336 |
|
|
|
820,314,320 |
|
|
|
394,023,401 |
|
| Net assets at end of year |
|
$ |
39,367,773 |
|
|
$ |
74,787,741 |
|
|
$ |
584,260,375 |
|
|
$ |
828,768,870 |
|
|
$ |
409,453,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
39,569,687 |
|
|
|
69,474,899 |
|
|
|
399,971,517 |
|
|
|
616,103,823 |
|
|
|
236,316,202 |
|
| Units purchased |
|
|
124,947 |
|
|
|
265,271 |
|
|
|
9,763,003 |
|
|
|
18,474,250 |
|
|
|
10,476,225 |
|
| Units redeemed |
|
|
(5,286,841 |
) |
|
|
(10,713,019 |
) |
|
|
(32,659,170 |
) |
|
|
(76,402,926 |
) |
|
|
(27,228,511 |
) |
| Units outstanding at end of year |
|
|
34,407,793 |
|
|
|
59,027,151 |
|
|
|
377,075,350 |
|
|
|
558,175,147 |
|
|
|
219,563,916 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
| See |
accompanying notes to financial statements. |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
113 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
VP Mod,
Cl 4 |
|
|
VP Mod
Aggr,
Cl 2 |
|
|
VP Mod
Aggr,
Cl 4 |
|
|
VP Mod
Conserv,
Cl 2 |
|
|
VP Mod
Conserv,
Cl 4 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(3,055,934) |
|
|
$ |
(1,454,488 |
) |
|
$ |
(860,768 |
) |
|
$ |
(675,569 |
) |
|
$ |
(532,086 |
) |
| Net realized gain (loss) on sales of investments |
|
|
19,265,944 |
|
|
|
6,803,994 |
|
|
|
7,428,336 |
|
|
|
1,704,012 |
|
|
|
3,237,279 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
19,597,995 |
|
|
|
13,421,412 |
|
|
|
5,321,275 |
|
|
|
4,754,353 |
|
|
|
2,229,584 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
35,808,005 |
|
|
|
18,770,918 |
|
|
|
11,888,843 |
|
|
|
5,782,796 |
|
|
|
4,934,777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
473,054 |
|
|
|
9,487,466 |
|
|
|
1,004,368 |
|
|
|
1,175,065 |
|
|
|
43,208 |
|
| Net transfers(1) |
|
|
2,679,358 |
|
|
|
(6,655,675 |
) |
|
|
(4,784,383 |
) |
|
|
(1,304,891 |
) |
|
|
(1,469,582 |
) |
| Transfers for policy loans |
|
|
6,807 |
|
|
|
45,778 |
|
|
|
78,142 |
|
|
|
5,779 |
|
|
|
3,218 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
(18,931 |
) |
|
|
— |
|
|
|
109,218 |
|
|
|
— |
|
| Contract charges |
|
|
(2,422,995 |
) |
|
|
(623,562 |
) |
|
|
(506,433 |
) |
|
|
(567,474 |
) |
|
|
(371,673 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(29,146,875 |
) |
|
|
(10,962,052 |
) |
|
|
(7,770,140 |
) |
|
|
(4,326,615 |
) |
|
|
(6,050,382 |
) |
| Death benefits |
|
|
(8,653,970 |
) |
|
|
(428,991 |
) |
|
|
(1,325,408 |
) |
|
|
(1,196,565 |
) |
|
|
(1,500,116 |
) |
| Increase (decrease) from transactions |
|
|
(37,064,621 |
) |
|
|
(9,155,967 |
) |
|
|
(13,303,854 |
) |
|
|
(6,105,483 |
) |
|
|
(9,345,327 |
) |
| Net assets at beginning of year |
|
|
322,208,885 |
|
|
|
140,345,227 |
|
|
|
92,293,228 |
|
|
|
65,320,950 |
|
|
|
57,449,778 |
|
| Net assets at end of year |
|
$ |
320,952,269 |
|
|
$ |
149,960,178 |
|
|
$ |
90,878,217 |
|
|
$ |
64,998,263 |
|
|
$ |
53,039,228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
191,236,490 |
|
|
|
74,605,373 |
|
|
|
48,591,859 |
|
|
|
45,490,551 |
|
|
|
39,603,491 |
|
| Units purchased |
|
|
1,954,340 |
|
|
|
4,994,655 |
|
|
|
537,817 |
|
|
|
1,011,241 |
|
|
|
168,367 |
|
| Units redeemed |
|
|
(22,921,708 |
) |
|
|
(9,531,748 |
) |
|
|
(7,084,396 |
) |
|
|
(5,148,873 |
) |
|
|
(6,384,449 |
) |
| Units outstanding at end of year |
|
|
170,269,122 |
|
|
|
70,068,280 |
|
|
|
42,045,280 |
|
|
|
41,352,919 |
|
|
|
33,387,409 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
| See |
accompanying notes to financial statements. |
|
|
|
|
|
| 114 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
VP Ptnrs
Core Bond,
Cl 2 |
|
|
VP Ptnrs
Core Eq, Cl 2 |
|
|
VP Ptnrs
Core Eq,
Cl 3 |
|
|
VP Ptnrs
Intl Core Eq,
Cl 2 |
|
|
VP Ptnrs
Intl Gro,
Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
18,981 |
|
|
$ |
(4,179 |
) |
|
$ |
(11,303 |
) |
|
$ |
372 |
|
|
$ |
(18,213 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(11,770 |
) |
|
|
41,819 |
|
|
|
199,768 |
|
|
|
(13,146 |
) |
|
|
(16,362 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
57,685 |
|
|
|
70,989 |
|
|
|
62,678 |
|
|
|
168,214 |
|
|
|
302,211 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
64,896 |
|
|
|
108,629 |
|
|
|
251,143 |
|
|
|
155,440 |
|
|
|
267,636 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
146,944 |
|
|
|
1,315 |
|
|
|
6,551 |
|
|
|
199,940 |
|
|
|
30,622 |
|
| Net transfers(1) |
|
|
54,143 |
|
|
|
177,347 |
|
|
|
(49,917 |
) |
|
|
73,218 |
|
|
|
40,307 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
603 |
|
|
|
— |
|
|
|
742 |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
779 |
|
|
|
— |
|
| Contract charges |
|
|
(4,548 |
) |
|
|
(38 |
) |
|
|
(3,150 |
) |
|
|
(983 |
) |
|
|
(1,234 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(31,593 |
) |
|
|
(6,330 |
) |
|
|
(190,569 |
) |
|
|
(19,832 |
) |
|
|
(20,985 |
) |
| Death benefits |
|
|
— |
|
|
|
(1,783 |
) |
|
|
(36,330 |
) |
|
|
(11,118 |
) |
|
|
(25,838 |
) |
| Increase (decrease) from transactions |
|
|
164,946 |
|
|
|
170,511 |
|
|
|
(272,812 |
) |
|
|
242,004 |
|
|
|
23,614 |
|
| Net assets at beginning of year |
|
|
1,204,295 |
|
|
|
403,478 |
|
|
|
1,231,122 |
|
|
|
892,510 |
|
|
|
2,010,317 |
|
| Net assets at end of year |
|
$ |
1,434,137 |
|
|
$ |
682,618 |
|
|
$ |
1,209,453 |
|
|
$ |
1,289,954 |
|
|
$ |
2,301,567 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,129,391 |
|
|
|
273,318 |
|
|
|
473,615 |
|
|
|
623,375 |
|
|
|
1,291,988 |
|
| Units purchased |
|
|
194,958 |
|
|
|
62,746 |
|
|
|
2,507 |
|
|
|
176,155 |
|
|
|
67,728 |
|
| Units redeemed |
|
|
(43,858 |
) |
|
|
(20,190 |
) |
|
|
(98,627 |
) |
|
|
(22,913 |
) |
|
|
(54,519 |
) |
| Units outstanding at end of year |
|
|
1,280,491 |
|
|
|
315,874 |
|
|
|
377,495 |
|
|
|
776,617 |
|
|
|
1,305,197 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
115 |
|
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
VP Ptnrs
Intl Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Gro,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 2 |
|
|
VP Ptnrs
Sm Cap Val,
Cl 3 |
|
|
VP US Flex
Conserv Gro, Cl 2 |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
13,036 |
|
|
$ |
(16,686 |
) |
|
$ |
(8,612 |
) |
|
$ |
(23,101 |
) |
|
$ |
(241,094 |
) |
| Net realized gain (loss) on sales of investments |
|
|
(1,181 |
) |
|
|
17,718 |
|
|
|
9,259 |
|
|
|
159,538 |
|
|
|
64,288 |
|
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
217,643 |
|
|
|
93,525 |
|
|
|
86,856 |
|
|
|
118,903 |
|
|
|
2,396,718 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
229,498 |
|
|
|
94,557 |
|
|
|
87,503 |
|
|
|
255,340 |
|
|
|
2,219,912 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
98,955 |
|
|
|
101,674 |
|
|
|
45,161 |
|
|
|
30,423 |
|
|
|
157,420 |
|
| Net transfers(1) |
|
|
(33,604 |
) |
|
|
215,630 |
|
|
|
121,341 |
|
|
|
27,451 |
|
|
|
96,090 |
|
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
941 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Contract charges |
|
|
(673 |
) |
|
|
(3,935 |
) |
|
|
(1,940 |
) |
|
|
(5,118 |
) |
|
|
(234,278 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(42,055 |
) |
|
|
(76,895 |
) |
|
|
(41,067 |
) |
|
|
(233,276 |
) |
|
|
(500,969 |
) |
| Death benefits |
|
|
(48,689 |
) |
|
|
(32,138 |
) |
|
|
— |
|
|
|
(17,068 |
) |
|
|
(210,711 |
) |
| Increase (decrease) from transactions |
|
|
(26,066 |
) |
|
|
204,336 |
|
|
|
123,495 |
|
|
|
(196,647 |
) |
|
|
(692,448 |
) |
| Net assets at beginning of year |
|
|
1,500,065 |
|
|
|
1,423,700 |
|
|
|
748,569 |
|
|
|
2,611,346 |
|
|
|
22,381,810 |
|
| Net assets at end of year |
|
$ |
1,703,497 |
|
|
$ |
1,722,593 |
|
|
$ |
959,567 |
|
|
$ |
2,670,039 |
|
|
$ |
23,909,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
1,269,862 |
|
|
|
564,584 |
|
|
|
333,396 |
|
|
|
750,706 |
|
|
|
20,016,379 |
|
| Units purchased |
|
|
75,128 |
|
|
|
135,032 |
|
|
|
75,402 |
|
|
|
20,244 |
|
|
|
617,572 |
|
| Units redeemed |
|
|
(100,387 |
) |
|
|
(56,716 |
) |
|
|
(20,515 |
) |
|
|
(76,572 |
) |
|
|
(1,211,524 |
) |
| Units outstanding at end of year |
|
|
1,244,603 |
|
|
|
642,900 |
|
|
|
388,283 |
|
|
|
694,378 |
|
|
|
19,422,427 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
| 116 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Statement of Changes in Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Year ended December 31, 2023 (continued) |
|
VP US
Flex Gro, Cl 2 |
|
|
VP US
Flex
Mod Gro, Cl 2 |
|
|
Wanger
Acorn |
|
|
Wanger
Intl |
|
|
WA Var
Global Hi Yd Bond,
Cl II |
|
| Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income (loss) — net |
|
$ |
(2,283,256 |
) |
|
$ |
(1,306,654 |
) |
|
$ |
(70,552 |
) |
|
$ |
(30,891 |
) |
|
$ |
20,742 |
|
| Net realized gain (loss) on sales of investments |
|
|
2,255,443 |
|
|
|
977,086 |
|
|
|
(724,456 |
) |
|
|
(236,320 |
) |
|
|
(27,746 |
) |
| Distributions from capital gains |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net change in unrealized appreciation (depreciation) of
investments |
|
|
33,295,469 |
|
|
|
15,464,347 |
|
|
|
2,306,153 |
|
|
|
1,072,364 |
|
|
|
49,736 |
|
| Net increase (decrease) in net assets resulting from
operations |
|
|
33,267,656 |
|
|
|
15,134,779 |
|
|
|
1,511,145 |
|
|
|
805,153 |
|
|
|
42,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract purchase payments |
|
|
1,123,718 |
|
|
|
1,662,332 |
|
|
|
82,957 |
|
|
|
143,059 |
|
|
|
28,428 |
|
| Net transfers(1) |
|
|
3,863,395 |
|
|
|
6,286,873 |
|
|
|
(100,729 |
) |
|
|
(111,614 |
) |
|
|
(43,769 |
) |
| Transfers for policy loans |
|
|
— |
|
|
|
— |
|
|
|
204 |
|
|
|
895 |
|
|
|
— |
|
| Adjustments to net assets allocated to contracts in payment period |
|
|
— |
|
|
|
— |
|
|
|
(1,556 |
) |
|
|
5,393 |
|
|
|
— |
|
| Contract charges |
|
|
(3,807,072 |
) |
|
|
(1,812,411 |
) |
|
|
(6,664 |
) |
|
|
(5,325 |
) |
|
|
(35 |
) |
| Contract terminations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Surrender benefits |
|
|
(6,163,704 |
) |
|
|
(5,415,191 |
) |
|
|
(640,608 |
) |
|
|
(417,157 |
) |
|
|
(19,494 |
) |
| Death benefits |
|
|
(1,331,136 |
) |
|
|
(1,669,211 |
) |
|
|
(99,127 |
) |
|
|
(59,501 |
) |
|
|
(43,142 |
) |
| Increase (decrease) from transactions |
|
|
(6,314,799 |
) |
|
|
(947,608 |
) |
|
|
(765,523 |
) |
|
|
(444,250 |
) |
|
|
(78,012 |
) |
| Net assets at beginning of year |
|
|
216,056,317 |
|
|
|
121,919,526 |
|
|
|
7,660,058 |
|
|
|
5,273,349 |
|
|
|
565,030 |
|
| Net assets at end of year |
|
$ |
243,009,174 |
|
|
$ |
136,106,697 |
|
|
$ |
8,405,680 |
|
|
$ |
5,634,252 |
|
|
$ |
529,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulation unit activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Units outstanding at beginning of year |
|
|
165,011,705 |
|
|
|
100,110,276 |
|
|
|
1,848,451 |
|
|
|
2,052,964 |
|
|
|
519,237 |
|
| Units purchased |
|
|
5,094,216 |
|
|
|
6,704,919 |
|
|
|
39,137 |
|
|
|
49,586 |
|
|
|
29,819 |
|
| Units redeemed |
|
|
(9,619,350 |
) |
|
|
(7,697,333 |
) |
|
|
(196,532 |
) |
|
|
(219,703 |
) |
|
|
(101,679 |
) |
| Units outstanding at end of year |
|
|
160,486,571 |
|
|
|
99,117,862 |
|
|
|
1,691,056 |
|
|
|
1,882,847 |
|
|
|
447,377 |
|
| (1) |
Includes transfer activity from (to) other divisions and transfers from (to) RiverSource Life of NY’s fixed account.
|
See accompanying notes to financial statements.
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
117 |
|
Notes to Financial Statements
1. ORGANIZATION
RiverSource of New York Variable Annuity
Account (the Account) was established under New York law as a segregated asset account of RiverSource Life Insurance Co. of New York (RiverSource Life of NY). The Account is registered as a unit investment trust under the Investment Company Act of
1940, as amended (the 1940 Act) and exists in accordance with the rules and regulations of the New York State Department of Financial Services.
The
Account is used as a funding vehicle for individual variable annuity contracts issued by RiverSource Life of NY. The following is a list of each variable annuity product funded through the Account.
RiverSource® Retirement Advisor Advantage Plus Variable Annuity (RAVA Advantage Plus)
RiverSource® Retirement Advisor Select Plus Variable Annuity (RAVA Select Plus)
RiverSource® Retirement Advisor 4 Advantage® Variable Annuity (RAVA 4 Advantage)
RiverSource® Retirement Advisor 4 Select® Variable Annuity (RAVA 4 Select)
RiverSource® Retirement Advisor 4 Access® Variable Annuity (RAVA 4 Access)
RiverSource®
RAVA 5 Advantage® Variable Annuity (RAVA 5 Advantage) (Offered for contract applications signed on or after April 30, 2012 but
prior to April 29, 2013)
RiverSource® RAVA 5 Select® Variable Annuity (RAVA 5 Select) (Offered for contract applications signed
on or after April 30, 2012 but prior to April 29, 2013)
RiverSource® RAVA 5 Access® Variable Annuity (RAVA 5 Access) (Offered for contract applications
signed on or after April 30, 2012 but prior to April 29, 2013)
RiverSource® RAVA 5 Advantage® Variable
Annuity (RAVA 5 Advantage) (Offered for contract applications signed prior to April 30, 2012)
RiverSource® RAVA 5 Select® Variable Annuity
(RAVA 5 Select) (Offered for contract applications signed prior to April 30, 2012)
RiverSource® RAVA 5 Access® Variable Annuity (RAVA 5 Access) (Offered for contract applications
signed prior to April 30, 2012)
RiverSource® RAVA 5 Advantage® Variable Annuity (RAVA 5 Advantage) (Offered for contract applications
signed on or after April 29, 2013)
RiverSource® RAVA 5 Select® Variable Annuity (RAVA 5 Select) (Offered for contract applications signed
on or after April 29, 2013)
RiverSource® RAVA 5 Access® Variable Annuity (RAVA 5 Access) (Offered for contract applications signed on or after April 29, 2013)
RiverSource® RAVA 5 Advantage® Variable Annuity (RAVA 5 Advantage) (Offered for contract applications signed on or after April 29, 2019)
RiverSource® RAVA 5 Choice Variable Annuity (RAVA 5 Choice)
RiverSource® RAVA 5 Access® Variable Annuity (RAVA 5 Access) (Offered for contract applications signed on or after June 22, 2020)
RiverSource® RAVA Apex NY Variable Annuity (RAVA Apex)
RiverSource® RAVA Vista NY Variable Annuity (RAVA Vista)
RiverSource® Flexible Portfolio Annuity (FPA)*
RiverSource® Retirement Advisor Variable Annuity (RAVA)*
RiverSource® Retirement Advisor Advantage Variable Annuity (RAVA Advantage)*
RiverSource® Retirement Advisor Select Variable Annuity (RAVA Select)*
| * |
New contracts are no longer being issued for this product. As a result, an annual contract prospectus and statement of
additional information are no longer distributed. An annual report for this product is distributed to all current contract holders. |
The
Account is comprised of various divisions. Each division invests exclusively in shares of the following funds or portfolios (collectively, the Funds), which are registered under the 1940 Act as open-end
management investment companies. The name of each Fund and the corresponding division name are provided below. Each division is comprised of subaccounts. Individual variable annuity accounts invest in subaccounts. For each division, the financial
statements are comprised of a statement of assets and liabilities as of December 31, 2024, a related statement of operations for the year then ended and statements of changes in net assets for each of the two years in the period then ended, all
presented to reflect a full twelve month period except as noted below.
|
|
|
| Division |
|
Fund |
| AB VPS Dyn Asset Alloc, Cl B |
|
AB VPS Dynamic Asset Allocation Portfolio (Class B) |
| AB VPS Intl Val, Cl B |
|
AB VPS International Value Portfolio (Class
B) |
|
|
|
|
|
| 118 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
| Division |
|
Fund |
| AB VPS Lg Cap Gro, Cl B |
|
AB VPS Large Cap Growth Portfolio (Class B) |
| AB VPS Relative Val, Cl B |
|
AB VPS Relative Value Portfolio (Class B) |
| AB VPS Sus Gbl Thematic, Cl B |
|
AB VPS Sustainable Global Thematic Portfolio (Class B) |
| Allspg VT Index Asset Alloc, Cl 2 |
|
Allspring VT Index Asset Allocation Fund – Class 2 |
| Allspg VT Opp, Cl 2 |
|
Allspring VT Opportunity Fund – Class 2 |
| Allspg VT Sm Cap Gro, Cl 2 |
|
Allspring VT Small Cap Growth Fund – Class 2 |
| ALPS Alerian Engy Infr, Class III |
|
ALPS/Alerian Energy Infrastructure Portfolio: Class III |
| BlackRock Adv SMID Cap VI, Cl III |
|
BlackRock Advantage SMID Cap V.I. Fund (Class III) |
| BlackRock Global Alloc, Cl III |
|
BlackRock Global Allocation V.I. Fund (Class III) |
| BNY Mellon Sus US Eq, Serv |
|
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares |
| Calvert VP SRI Bal, Cl F |
|
Calvert VP SRI Balanced Portfolio – Class F |
| Calvert VP SRI Bal, Cl I |
|
Calvert VP SRI Balanced Portfolio – Class I |
| CB Var Sm Cap Gro, Cl I |
|
ClearBridge Variable Small Cap Growth Portfolio – Class I |
| Col VP Bal, Cl 2 |
|
Columbia Variable Portfolio – Balanced Fund (Class 2) |
| Col VP Bal, Cl 3 |
|
Columbia Variable Portfolio – Balanced Fund (Class 3) |
| Col VP Commodity Strategy, Cl 2 |
|
Columbia Variable Portfolio – Commodity Strategy Fund (Class 2) |
| Col VP Contrarian Core, Cl 2 |
|
Columbia Variable Portfolio – Contrarian Core Fund (Class 2) |
| Col VP Disciplined Core, Cl 2 |
|
Columbia Variable Portfolio – Disciplined Core Fund (Class 2) |
| Col VP Disciplined Core, Cl 3 |
|
Columbia Variable Portfolio – Disciplined Core Fund (Class 3) |
| Col VP Divd Opp, Cl 2 |
|
Columbia Variable Portfolio – Dividend Opportunity Fund (Class 2) |
| Col VP Divd Opp, Cl 3 |
|
Columbia Variable Portfolio – Dividend Opportunity Fund (Class 3) |
| Col VP Emerg Mkts Bond, Cl 2 |
|
Columbia Variable Portfolio – Emerging Markets Bond Fund (Class 2) |
| Col VP Emer Mkts, Cl 2 |
|
Columbia Variable Portfolio – Emerging Markets Fund (Class 2) |
| Col VP Emer Mkts, Cl 3 |
|
Columbia Variable Portfolio – Emerging Markets Fund (Class 3) |
| Col VP Global Strategic Inc, Cl 2 |
|
Columbia Variable Portfolio – Global Strategic Income Fund (Class 2)
(renamed to Columbia Variable
Portfolio – Corporate Bond Fund (Class 2) effective sometime during the second quarter of 2025) |
| Col VP Global Strategic Inc, Cl 3 |
|
Columbia Variable Portfolio – Global Strategic Income Fund (Class 3)
(renamed to Columbia Variable
Portfolio – Corporate Bond Fund (Class 3) effective sometime during the second quarter of 2025) |
| Col VP Govt Money Mkt, Cl 2 |
|
Columbia Variable Portfolio – Government Money Market Fund (Class 2) |
| Col VP Govt Money Mkt, Cl 3 |
|
Columbia Variable Portfolio – Government Money Market Fund (Class 3) |
| Col VP Hi Yield Bond, Cl 2 |
|
Columbia Variable Portfolio – High Yield Bond Fund (Class 2) |
| Col VP Hi Yield Bond, Cl 3 |
|
Columbia Variable Portfolio – High Yield Bond Fund (Class 3) |
| Col VP Inc Opp, Cl 2 |
|
Columbia Variable Portfolio – Income Opportunities Fund (Class 2) |
| Col VP Inc Opp, Cl 3 |
|
Columbia Variable Portfolio – Income Opportunities Fund (Class 3) |
| Col VP Inter Bond, Cl 2 |
|
Columbia Variable Portfolio – Intermediate Bond Fund (Class 2) |
| Col VP Inter Bond, Cl 3 |
|
Columbia Variable Portfolio – Intermediate Bond Fund (Class 3) |
| Col VP Lg Cap Gro, Cl 2 |
|
Columbia Variable Portfolio – Large Cap Growth Fund (Class 2) |
| Col VP Lg Cap Gro, Cl 3 |
|
Columbia Variable Portfolio – Large Cap Growth Fund (Class 3) |
| Col VP Lg Cap Index, Cl 2 |
|
Columbia Variable Portfolio – Large Cap Index Fund (Class 2) |
| Col VP Lg Cap Index, Cl 3 |
|
Columbia Variable Portfolio – Large Cap Index Fund (Class 3) |
| Col VP Limited Duration Cr, Cl 2 |
|
Columbia Variable Portfolio – Limited Duration Credit Fund (Class 2) |
| Col VP Long Govt/Cr Bond, Cl 2 |
|
Columbia Variable Portfolio – Long Government/Credit Bond Fund (Class 2) |
| Col VP Overseas Core, Cl 2 |
|
Columbia Variable Portfolio – Overseas Core Fund (Class 2) |
| Col VP Overseas Core, Cl 3 |
|
Columbia Variable Portfolio – Overseas Core Fund (Class 3) |
| Col VP Select Lg Cap Eq, Cl 2 |
|
Columbia Variable Portfolio – Select Large Cap Equity Fund (Class 2) |
| Col VP Select Lg Cap Val, Cl 2 |
|
Columbia Variable Portfolio – Select Large Cap Value Fund (Class 2) |
| Col VP Select Lg Cap Val, Cl 3 |
|
Columbia Variable Portfolio – Select Large Cap Value Fund (Class 3) |
| Col VP Select Mid Cap Gro, Cl 2 |
|
Columbia Variable Portfolio – Select Mid Cap Growth Fund (Class 2) |
| Col VP Select Mid Cap Gro, Cl 3 |
|
Columbia Variable Portfolio – Select Mid Cap Growth Fund (Class 3) |
| Col VP Select Mid Cap Val, Cl 2 |
|
Columbia Variable Portfolio – Select Mid Cap Value Fund (Class 2) |
| Col VP Select Mid Cap Val, Cl 3 |
|
Columbia Variable Portfolio – Select Mid Cap Value Fund (Class 3) |
| Col VP Select Sm Cap Val, Cl 2 |
|
Columbia Variable Portfolio – Select Small Cap Value Fund (Class 2) |
| Col VP Select Sm Cap Val, Cl 3 |
|
Columbia Variable Portfolio – Select Small Cap Value Fund (Class 3) |
| Col VP Sel Gbl Tech, Cl 2 |
|
Columbia Variable Portfolio – Seligman Global Technology Fund (Class 2) |
| Col VP Sm Cap Val, Cl 2 |
|
Columbia Variable Portfolio – Small Cap Value Fund (Class 2) |
| Col VP Strategic Inc, Cl 2 |
|
Columbia Variable Portfolio – Strategic Income Fund (Class 2) |
| Col VP US Govt Mtge, Cl 2 |
|
Columbia Variable Portfolio – U.S. Government Mortgage Fund
(Class 2) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
119 |
|
|
|
|
| Division |
|
Fund |
| Col VP US Govt Mtge, Cl 3 |
|
Columbia Variable Portfolio – U.S. Government Mortgage Fund (Class 3) |
| CS Commodity Return, Cl 1 |
|
Credit Suisse Trust – Commodity Return Strategy Portfolio, Class 1 |
| CTIVP AC Div Bond, Cl 2 |
|
CTIVP® – American Century Diversified Bond Fund
(Class 2) |
| CTIVP BR Gl Infl Prot Sec, Cl 2 |
|
CTIVP® – BlackRock Global Inflation-Protected
Securities Fund (Class 2) |
| CTIVP BR Gl Infl Prot Sec, Cl 3 |
|
CTIVP® – BlackRock Global Inflation-Protected
Securities Fund (Class 3) |
| CTIVP CenterSquare Real Est, Cl 2 |
|
CTIVP® – CenterSquare Real Estate Fund (Class
2) |
| CTIVP MFS Val, Cl 2 |
|
CTIVP® – MFS® Value Fund (Class 2)
(renamed to CTIVP® - Wellington Large Cap Value Fund (Class 2) effective sometime during the second quarter of
2025) |
| CTIVP Prin Blue Chip Gro, Cl 1 |
|
CTIVP® – Principal Blue Chip Growth Fund (Class
1)
(renamed to CTIVP® - Principal Large Cap Growth Fund (Class 1) effective sometime during the second quarter of 2025) |
| CTIVP Prin Blue Chip Gro, Cl 2 |
|
CTIVP® – Principal Blue Chip Growth Fund (Class
2)
(renamed to CTIVP® - Principal Large Cap Growth Fund (Class 2) effective sometime during the second quarter of 2025) |
| CTIVP T Rowe Price LgCap Val, Cl 2 |
|
CTIVP® – T. Rowe Price Large Cap Value Fund
(Class 2) |
| CTIVP TCW Core Plus Bond, Cl 2 |
|
CTIVP® – TCW Core Plus Bond Fund (Class
2) |
| CTIVP Vty Sycamore Estb Val, Cl 2 |
|
CTIVP® – Victory Sycamore Established Value
Fund (Class 2) |
| CTIVP Vty Sycamore Estb Val, Cl 3 |
|
CTIVP® – Victory Sycamore Established Value
Fund (Class 3) |
| CTIVP Westfield Mid Cap Gro, Cl 2 |
|
CTIVP® – Westfield Mid Cap Growth Fund (Class
2) |
| CTIVP Westfield Sel Lg Cp Gr, Cl 2 |
|
CTIVP® – Westfield Select Large Cap Growth Fund
(Class 2)
(previously CTIVP® – Morgan Stanley Advantage Fund (Class 2)) |
| CVT EAFE Intl Index, Cl F |
|
CVT EAFE International Index Portfolio – Class F
(previously Calvert VP EAFE International Index
Portfolio – Class F) |
| CVT Nasdaq 100 Index, Cl F |
|
CVT Nasdaq 100 Index Portfolio – Class F
(previously Calvert VP Nasdaq 100 Index Portfolio
– Class F) |
| CVT Russ 2000 Sm Cap Ind, Cl F |
|
CVT Russell 2000® Small Cap Index Portfolio –
Class F
(previously Calvert VP Russell 2000® Small Cap Index Portfolio – Class F) |
| DWS Alt Asset Alloc VIP, Cl B |
|
DWS Alternative Asset Allocation VIP, Class B |
| EV VT Floating-Rate Inc, Init Cl |
|
Eaton Vance VT Floating-Rate Income Fund – Initial Class |
| Fid VIP Contrafund, Serv Cl 2 |
|
Fidelity® VIP ContrafundSM Portfolio Service Class 2 |
| Fid VIP Emer Mkts, Serv Cl 2 |
|
Fidelity® VIP Emerging Markets Portfolio Service
Class 2 |
| Fid VIP Energy, Serv Cl 2 |
|
Fidelity® VIP Energy Portfolio Service
Class 2 |
| Fid VIP Gro & Inc, Serv Cl |
|
Fidelity® VIP Growth & Income Portfolio
Service Class |
| Fid VIP Gro & Inc, Serv Cl 2 |
|
Fidelity® VIP Growth & Income Portfolio
Service Class 2 |
| Fid VIP Gro Opp, Serv Cl 2 |
|
Fidelity® VIP Growth Opportunities Portfolio Service
Class 2 |
| Fid VIP Intl Cap Appr, Serv Cl 2 |
|
Fidelity® VIP International Capital Appreciation
Portfolio Service Class 2 |
| Fid VIP Invest Gr, Serv Cl 2 |
|
Fidelity® VIP Investment Grade Bond Portfolio
Service Class 2 |
| Fid VIP Mid Cap, Serv Cl |
|
Fidelity® VIP Mid Cap Portfolio Service
Class |
| Fid VIP Mid Cap, Serv Cl 2 |
|
Fidelity® VIP Mid Cap Portfolio Service
Class 2 |
| Fid VIP Overseas, Serv Cl |
|
Fidelity® VIP Overseas Portfolio Service
Class |
| Fid VIP Overseas, Serv Cl 2 |
|
Fidelity® VIP Overseas Portfolio Service
Class 2 |
| Fid VIP Strategic Inc, Serv Cl 2 |
|
Fidelity® VIP Strategic Income Portfolio Service
Class 2 |
| Frank Global Real Est, Cl 2 |
|
Franklin Global Real Estate VIP Fund – Class 2 |
| Frank Inc, Cl 2 |
|
Franklin Income VIP Fund – Class 2 |
| Frank Inc, Cl 4 |
|
Franklin Income VIP Fund – Class 4 |
| Frank Mutual Gbl Dis, Cl 4 |
|
Franklin Mutual Global Discovery VIP Fund – Class 4 |
| Frank Mutual Shares, Cl 2 |
|
Franklin Mutual Shares VIP Fund – Class 2 |
| Frank Sm Cap Val, Cl 2 |
|
Franklin Small Cap Value VIP Fund – Class 2 |
| Frank Sm Cap Val, Cl 4 |
|
Franklin Small Cap Value VIP Fund – Class 4 |
| GS VIT Mid Cap Val, Inst |
|
Goldman Sachs VIT Mid Cap Value Fund – Institutional Shares |
| GS VIT Multi-Strategy Alt, Advisor |
|
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio – Advisor Shares(1) |
| GS VIT Multi-Strategy Alt, Serv |
|
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio – Service Shares(2) |
| GS VIT Sm Cap Eq Insights, Inst |
|
Goldman Sachs VIT Small Cap Equity Insights Fund – Institutional Shares |
| GS VIT Sm Cap Eq Insights, Serv |
|
Goldman Sachs VIT Small Cap Equity Insights Fund – Service Shares |
| GS VIT U.S. Eq Insights, Inst |
|
Goldman Sachs VIT U.S. Equity Insights Fund – Institutional Shares |
| Invesco VI Am Fran, Ser I |
|
Invesco V.I. American Franchise Fund, Series I Shares |
| Invesco VI Am Fran, Ser II |
|
Invesco V.I. American Franchise Fund, Series II Shares |
| Invesco VI Bal Risk Alloc, Ser II |
|
Invesco V.I. Balanced-Risk Allocation Fund, Series II Shares |
| Invesco VI Comstock, Ser II |
|
Invesco V.I. Comstock Fund, Series II Shares |
| Invesco VI Core Eq, Ser I |
|
Invesco V.I. Core Equity Fund, Series I Shares |
| Invesco VI Core Plus Bond, Ser II |
|
Invesco V.I. Core Plus Bond Fund, Series II Shares |
| Invesco VI Dis Mid Cap Gro, Ser I |
|
Invesco V.I. Discovery Mid Cap Growth Fund, Series I
Shares |
|
|
|
|
|
| 120 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
| Division |
|
Fund |
| Invesco VI Dis Mid Cap Gro, Ser II |
|
Invesco V.I. Discovery Mid Cap Growth Fund, Series II Shares |
| Invesco VI Div Divd, Ser I |
|
Invesco V.I. Diversified Dividend Fund, Series I Shares |
| Invesco VI Div Divd, Ser II |
|
Invesco V.I. Diversified Dividend Fund, Series II Shares |
| Invesco VI EQV Intl Eq, Ser II |
|
Invesco V.I. EQV International Equity Fund, Series II Shares |
| Invesco VI Global, Ser II |
|
Invesco V.I. Global Fund, Series II Shares |
| Invesco VI Gbl Strat Inc, Ser II |
|
Invesco V.I. Global Strategic Income Fund, Series II Shares |
| Invesco VI Hlth, Ser II |
|
Invesco V.I. Health Care Fund, Series II Shares |
| Invesco VI Main St, Ser II |
|
Invesco V.I. Main Street Fund®, Series II
Shares |
| Invesco VI Mn St Sm Cap, Ser II |
|
Invesco V.I. Main Street Small Cap Fund®, Series II
Shares |
| Invesco VI Tech, Ser I |
|
Invesco V.I. Technology Fund, Series I Shares |
| Invesco VI Tech, Ser II |
|
Invesco V.I. Technology Fund, Series II Shares |
| Janus Henderson VIT Bal, Serv |
|
Janus Henderson VIT Balanced Portfolio: Service Shares |
| Janus Henderson VIT Enter, Serv |
|
Janus Henderson VIT Enterprise Portfolio: Service Shares |
| Janus Henderson VIT Flex Bd, Serv |
|
Janus Henderson VIT Flexible Bond Portfolio: Service Shares |
| Janus Henderson VIT Forty, Serv |
|
Janus Henderson VIT Forty Portfolio: Service Shares |
| Janus Hend VIT Gbl Tech Innov, Srv |
|
Janus Henderson VIT Global Technology and Innovation Portfolio: Service Shares |
| Janus Henderson VIT Overseas, Serv |
|
Janus Henderson VIT Overseas Portfolio: Service Shares |
| Janus Henderson VIT Res, Serv |
|
Janus Henderson VIT Research Portfolio: Service Shares |
| Lazard Ret Emer Mkts Eq, Serv |
|
Lazard Retirement Emerging Markets Equity Portfolio – Service Shares |
| Lazard Ret Global Dyn MA, Serv |
|
Lazard Retirement Global Dynamic Multi-Asset Portfolio – Service Shares |
| Lord Abt Bond Debenture, Cl VC |
|
Lord Abbett Series Fund Bond Debenture Portfolio – Class VC |
| Lord Abt Short Dur Inc, Cl VC |
|
Lord Abbett Series Fund Short Duration Income Portfolio – Class VC |
| LVIP AC Intl, Serv Cl |
|
LVIP American Century International Fund, Service
Class(3) |
| LVIP AC Intl, Std Cl II |
|
LVIP American Century International Fund, Standard
Class II(4) |
| LVIP AC Mid Cap Val, Serv Cl |
|
LVIP American Century Mid Cap Value Fund, Service
Class(5) |
| LVIP AC Ultra, Serv Cl |
|
LVIP American Century Ultra® Fund, Service Class(6) |
| LVIP AC Val, Serv Cl |
|
LVIP American Century Value Fund, Service
Class(7) |
| LVIP AC Val, Std Cl II |
|
LVIP American Century Value Fund, Standard
Class II(8) |
| LVIP JPM US Eq, Serv Cl |
|
LVIP JPMorgan U.S. Equity Fund – Service
Class(9)(10) |
| Mac VIP Asset Strategy, Serv Cl |
|
Macquarie VIP Asset Strategy Series – Service Class
(previously Delaware Ivy VIP Asset Strategy,
Class II) |
| Mac VIP for Inc, Serv Cl |
|
Macquarie VIP Fund for Income Series – Service Class
(previously Delaware VIP® Fund for Income Series – Service Class) |
| Mac VIP Intl Core Eq, Serv Cl |
|
Macquarie VIP International Core Equity Series – Service Class(11)(12)
(previously Delaware Ivy VIP International Core Equity—Class II) |
| MFS Gbl Real Est, Serv Cl |
|
MFS® Global Real Estate Portfolio – Service
Class |
| MFS Intl Gro, Serv Cl |
|
MFS® International Growth Portfolio – Service
Class |
| MFS Mass Inv Gro Stock, Serv Cl |
|
MFS® Massachusetts Investors Growth Stock Portfolio
– Service Class |
| MFS New Dis, Serv Cl |
|
MFS® New Discovery Series – Service
Class |
| MFS Research Intl, Serv Cl |
|
MFS® Research International Portfolio – Service
Class |
| MFS Utilities, Serv Cl |
|
MFS® Utilities Series – Service
Class |
| MS VIF Dis, Cl II |
|
Morgan Stanley VIF Discovery Portfolio, Class II Shares |
| NB AMT Sus Eq, Cl S |
|
Neuberger Berman AMT Sustainable Equity Portfolio (Class S) |
| PIMCO VIT All Asset, Advisor Cl |
|
PIMCO VIT All Asset Portfolio, Advisor Class |
| PIMCO VIT Glb Man As Alloc, Adv Cl |
|
PIMCO VIT Global Managed Asset Allocation Portfolio, Advisor Class |
| PIMCO VIT Tot Return, Advisor Cl |
|
PIMCO VIT Total Return Portfolio, Advisor Class |
| Put VT Global Hlth Care, Cl IB |
|
Putnam VT Global Health Care Fund – Class IB Shares |
| Put VT Intl Eq, Cl IB |
|
Putnam VT International Equity Fund – Class IB Shares |
| Put VT Intl Val, Cl IB |
|
Putnam VT International Value Fund – Class IB Shares |
| Put VT Lg Cap Val, Cl IB |
|
Putnam VT Large Cap Value Fund – Class IB Shares |
| Put VT Sus Fut, Cl IB |
|
Putnam VT Sustainable Future Fund – Class IB Shares |
| Put VT Sus Leaders, Cl IA |
|
Putnam VT Sustainable Leaders Fund – Class IA Shares |
| Put VT Sus Leaders, Cl IB |
|
Putnam VT Sustainable Leaders Fund – Class IB Shares |
| Royce Micro-Cap, Invest Cl |
|
Royce Capital Fund – Micro-Cap Portfolio, Investment
Class |
| Temp Global Bond, Cl 2 |
|
Templeton Global Bond VIP Fund – Class 2 |
| Third Ave VST Third Ave Value |
|
Third Avenue VST Third Avenue Value Portfolio |
| VanEck VIP Global Gold, Cl S |
|
VanEck VIP Global Gold Fund (Class S Shares) |
| VP Aggr, Cl 2 |
|
Variable Portfolio – Aggressive Portfolio (Class 2) |
| VP Aggr, Cl 4 |
|
Variable Portfolio – Aggressive Portfolio (Class 4) |
| VP Conserv, Cl 2 |
|
Variable Portfolio – Conservative Portfolio (Class
2) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
121 |
|
|
|
|
| Division |
|
Fund |
| VP Conserv, Cl 4 |
|
Variable Portfolio – Conservative Portfolio (Class 4) |
| VP Man Risk, Cl 2 |
|
Variable Portfolio – Managed Risk Fund (Class 2) |
| VP Man Risk US, Cl 2 |
|
Variable Portfolio – Managed Risk U.S. Fund (Class 2) |
| VP Man Vol Conserv, Cl 2 |
|
Variable Portfolio – Managed Volatility Conservative Fund (Class 2) |
| VP Man Vol Conserv Gro, Cl 2 |
|
Variable Portfolio – Managed Volatility Conservative Growth Fund (Class 2) |
| VP Man Vol Gro, Cl 2 |
|
Variable Portfolio – Managed Volatility Growth Fund (Class 2) |
| VP Man Vol Mod Gro, Cl 2 |
|
Variable Portfolio – Managed Volatility Moderate Growth Fund (Class 2) |
| VP Mod, Cl 2 |
|
Variable Portfolio – Moderate Portfolio (Class 2) |
| VP Mod, Cl 4 |
|
Variable Portfolio – Moderate Portfolio (Class 4) |
| VP Mod Aggr, Cl 2 |
|
Variable Portfolio – Moderately Aggressive Portfolio (Class 2) |
| VP Mod Aggr, Cl 4 |
|
Variable Portfolio – Moderately Aggressive Portfolio (Class 4) |
| VP Mod Conserv, Cl 2 |
|
Variable Portfolio – Moderately Conservative Portfolio (Class 2) |
| VP Mod Conserv, Cl 4 |
|
Variable Portfolio – Moderately Conservative Portfolio (Class 4) |
| VP Ptnrs Core Bond, Cl 2 |
|
Variable Portfolio – Partners Core Bond Fund (Class 2) |
| VP Ptnrs Core Eq, Cl 2 |
|
Variable Portfolio – Partners Core Equity Fund (Class 2) |
| VP Ptnrs Core Eq, Cl 3 |
|
Variable Portfolio – Partners Core Equity Fund (Class 3) |
| VP Ptnrs Intl Core Eq, Cl 2 |
|
Variable Portfolio – Partners International Core Equity Fund (Class 2) |
| VP Ptnrs Intl Gro, Cl 2 |
|
Variable Portfolio – Partners International Growth Fund (Class 2) |
| VP Ptnrs Intl Val, Cl 2 |
|
Variable Portfolio – Partners International Value Fund (Class 2) |
| VP Ptnrs Sm Cap Gro, Cl 2 |
|
Variable Portfolio – Partners Small Cap Growth Fund (Class 2) |
| VP Ptnrs Sm Cap Val, Cl 2 |
|
Variable Portfolio – Partners Small Cap Value Fund (Class 2) |
| VP Ptnrs Sm Cap Val, Cl 3 |
|
Variable Portfolio – Partners Small Cap Value Fund (Class 3) |
| VP US Flex Conserv Gro, Cl 2 |
|
Variable Portfolio – U.S. Flexible Conservative Growth Fund (Class 2) |
| VP US Flex Gro, Cl 2 |
|
Variable Portfolio – U.S. Flexible Growth Fund (Class 2) |
| VP US Flex Mod Gro, Cl 2 |
|
Variable Portfolio – U.S. Flexible Moderate Growth Fund (Class 2) |
| Wanger Acorn |
|
Wanger Acorn
(renamed to Columbia Variable Portfolio - Acorn Fund effective sometime during the second
quarter of 2025) |
| Wanger Intl |
|
Wanger International
(renamed to Columbia Variable Portfolio - Acorn International Fund effective sometime
during the second quarter of 2025) |
| WA Var Global Hi Yd Bond, Cl II |
|
Western Asset Variable Global High Yield Bond Portfolio –
Class II |
| (1) |
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio – Advisor Shares is scheduled to liquidate sometime during
the second quarter of 2025. |
| (2) |
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio – Service Shares is scheduled to liquidate sometime during
the second quarter of 2025. |
| (3) |
American Century VP International, Class II reorganized into LVIP American Century International Fund, Service
Class on April 26, 2024, |
| (4) |
American Century VP International, Class I reorganized into LVIP American Century International Fund, Standard
Class II on April 26, 2024. |
| (5) |
American Century VP Mid Cap Value, Class II reorganized into LVIP American Century Mid Cap Value Fund, Service
Class on April 26, 2024. |
| (6) |
American Century VP Ultra®, Class II reorganized into LVIP
American Century Ultra® Fund, Service Class on April 26, 2024. |
| (7) |
American Century VP Value, Class II reorganized into LVIP American Century Value Fund, Service Class on
April 26, 2024. |
| (8) |
American Century VP Value, Class I reorganized into LVIP American Century Value Fund, Standard Class II on
April 26, 2024. |
| (9) |
JPMorgan Insurance Trust U.S. Equity Portfolio – Class 2 Shares merged into LVIP JPMorgan U.S. Equity Fund
– Service Class on April 28, 2023. |
| (10) |
For the period April 28, 2023 (commencement of operations) to December 31, 2023. |
| (11) |
Delaware VIP® International Series – Service
Class merged into Delaware Ivy VIP International Core Equity – Class II on April 26, 2024. Subsequent to the merger, the fund was renamed to Macquerie VIP International Core Equity Series – Service Class.
|
| (12) |
For the period April 26, 2024 (commencement of operations) to December 31, 2024. |
The assets of each division of the Account are not chargeable with liabilities arising out of the business conducted by any other segregated asset account or
by RiverSource Life of NY.
RiverSource Life of NY serves as issuer of the contracts.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Investments
in the Funds
Investment transactions are accounted for on the trade date the shares are purchased and sold. Realized gains and losses on the sales of
investments are computed using the average cost method. Income from dividends and gains from realized capital gain distributions are reinvested in additional shares of the Funds and are recorded as income by the divisions on the ex-dividend date.
Unrealized appreciation or depreciation of investments in the accompanying financial statements
represents the division’s share of the Funds’ undistributed net investment income, undistributed realized gain or loss and the unrealized appreciation or depreciation on their investment securities.
The Account categorizes its fair value measurements according to a three-level hierarchy. An investment’s level within the fair value hierarchy is based
on the lowest level of any input that is deemed significant to the fair value measurement. The three levels of the fair value hierarchy are defined as follows:
Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date.
|
|
|
|
|
| 122 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
Level 2 – Prices or valuations based on observable inputs other than quoted prices in
active markets for identical assets and liabilities.
Level 3 – Prices or valuations that require inputs that are both
significant to the fair value measurement and unobservable.
The Funds in the Accounts have been measured at fair value using the net asset value per share
(or its equivalent) as a practical expedient and are therefore not categorized in the fair value hierarchy. There were no transfers between levels in the period ended December 31, 2024.
Variable Payout
Net assets allocated to contracts in the
payout period are periodically compared to a computation which uses the Annuity 2000 Basic Mortality Table and which assumes future mortality improvement. The assumed investment return is 3.5% or 5% based on the annuitant’s election, or as
regulated by the laws of the respective states. The mortality risk is fully borne by RiverSource Life of NY and may result in additional amounts being transferred into the variable annuity account by RiverSource Life of NY to cover greater longevity
of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to the insurance company.
Federal Income
Taxes
RiverSource Life of NY is taxed as a life insurance company. The Account is treated as part of RiverSource Life of NY for federal income tax
purposes. Under existing federal income tax law, no income taxes are payable with respect to any investment income of the Account to the extent the earnings are credited under the contracts. Based on this, no charge is being made currently to the
Account for federal income taxes. RiverSource Life of NY will review periodically the status of this 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.
Subsequent Events
Management has
evaluated Account related events and transactions that occurred through the date the financial statements were issued. Management noted there were no items requiring adjustments or additional disclosures in the Account’s financial statements.
Use of Estimates
The preparation of financial
statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.
Segment Reporting
In November 2023, the Financial
Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures, updating reportable segment disclosure requirements in accordance with Topic 280, Segment
Reporting (“Topic 280”), primarily through enhanced disclosures about significant segment expenses. The amendments also expand Topic 280 disclosures to public entities with one reportable segment. The amendments are effective for annual
periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The standard was adopted on January 1, 2024. The adoption of the standard did not have an impact on the statement of assets and liabilities, the
statement of operations or the statement of changes in net assets, as the standard is disclosure-related only.
The Chairman and President and Chief
Executive Officer of RiverSource Life Insurance Co. of New York acts as the Account’s chief operating decision maker (“CODM”) in assessing performance and making decisions about resource allocation. The CODM has determined that the
Account has a single operating segment because the CODM monitors net income, investment performance and overall operating results of the Account as a whole in making decisions about resource allocation. The financial information provided to and
reviewed by the CODM is consistent with that presented within the Account’s financial statements.
3. VARIABLE ACCOUNT EXPENSES
RiverSource Life of NY deducts a daily mortality and expense risk fee equal, on an annual basis, to the following percent of the average daily net assets of
each subaccount.
|
|
|
| Product |
|
Mortality and expense risk fee |
| RAVA Advantage Plus |
|
0.55% to 0.95%
(depending on the contract selected) |
| RAVA Select Plus |
|
0.75% to 1.20%
(depending on the contract selected) |
| RAVA 4 Advantage |
|
0.85% to 1.05%
(depending on the contract selected) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
123 |
|
|
|
|
| Product |
|
Mortality and expense risk fee |
| RAVA 4 Select |
|
1.10% to 1.30%
(depending on the contract selected) |
| RAVA 4 Access |
|
1.25% to 1.45%
(depending on the contract selected) |
| RAVA 5 Advantage (Offered for contract applications signed on
or after April 30, 2012 but prior to April 29, 2013) |
|
0.95% to 1.40%
(depending on the contract selected) |
| RAVA 5 Select (Offered for contract applications signed on or
after April 30, 2012 but prior to April 29, 2013) |
|
1.30% to 1.65%
(depending on the contract selected) |
| RAVA 5 Access (Offered for contract applications signed on or
after April 30, 2012 but prior to April 29, 2013) |
|
1.45% to 1.80%
(depending on the contract selected) |
| RAVA 5 Advantage (Offered for contract applications signed
prior to April 30, 2012) |
|
0.85% to 1.30%
(depending on the contract selected) |
| RAVA 5 Select (Offered for contract applications signed prior
to April 30, 2012) |
|
1.20% to 1.55%
(depending on the contract selected) |
| RAVA 5 Access (Offered for contract applications signed prior
to April 30, 2012) |
|
1.35% to 1.70%
(depending on the contract selected) |
| RAVA 5 Advantage (Offered for contract applications signed on
or after April 29, 2013) |
|
0.95% to 1.45%
(depending on the contract selected) |
| RAVA 5 Select (Offered for contract applications signed on or
after April 29, 2013) |
|
0.95% to 1.70%
(depending on the contract selected) |
| RAVA 5 Access (Offered for contract applications signed on or
after April 29, 2013) |
|
0.95% to 1.85%
(depending on the contract selected) |
| RAVA 5 Advantage (Offered for contract applications signed on
or after April 29, 2019) |
|
0.95% to 1.45%
(depending on the contract selected) |
| RAVA 5 Choice |
|
0.95% to 1.55%
(depending on the contract selected) |
| RAVA 5 Access (Offered for contract applications signed on or
after June 22, 2020) |
|
0.95% to 1.30%
(depending on the contract selected) |
| RAVA Apex |
|
0.65% to 1.50%
(depending on the contract selected) |
| RAVA Vista |
|
0.90% to 1.55%
(depending on the contract selected) |
| FPA |
|
1.25% |
| RAVA |
|
0.75% to 0.95%
(depending on the contract selected) |
| RAVA Advantage |
|
0.75% to 0.95%
(depending on the contract selected) |
| RAVA Select |
|
1.00% to 1.20%
(depending on the contract selected) |
4. CONTRACT CHARGES
RiverSource Life of NY deducts a contract administrative charge of $50 per year on the contract anniversary. This charge reimburses RiverSource Life of NY for
expenses incurred in establishing and maintaining the annuity records. Certain products may waive this charge based upon the underlying contract value.
Optional riders are available on certain products and if selected, the related fees are deducted annually from the contract value on the contract anniversary.
5. SURRENDER CHARGES
RiverSource Life of NY may assess a
surrender charge to help it recover certain expenses related to the sale of the annuity. Such charges are not treated as a separate expense of the divisions as they are ultimately deducted from contract surrender benefits paid by RiverSource Life of
NY. Charges by RiverSource Life of NY for surrenders are not identified on an individual division basis.
6. RELATED PARTY TRANSACTIONS
RiverSource Life of NY is a wholly-owned subsidiary of RiverSource Life Insurance Company, which is a wholly-owned subsidiary of Ameriprise Financial, Inc.
(Ameriprise Financial).
|
|
|
|
|
| 124 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
The following table reflects fees paid by certain affiliated funds to Ameriprise Financial and its affiliates.
|
|
|
| Fee Agreement: |
|
Fees Paid To: |
| Management Agreement |
|
Columbia Management Investment Advisers, LLC |
| Shareholder Services Agreement |
|
Columbia Management Investment Services Corp. |
| Plan and Agreement of Distribution |
|
Columbia Management Investment Distributors, Inc. |
| Investment Advisory Agreement |
|
Columbia Wanger Asset Management, LLC |
| Administrative Services Agreement |
|
Columbia Wanger Asset Management, LLC |
7. INVESTMENT TRANSACTIONS
The divisions’ purchases of Funds’ shares, including reinvestment of dividend distributions, for the year ended December 31, 2024 were as
follows:
|
|
|
|
|
| Division |
|
Purchases |
|
| AB VPS Dyn Asset Alloc, Cl B |
|
$ |
32,634 |
|
| AB VPS Intl Val, Cl B |
|
|
243,436 |
|
| AB VPS Lg Cap Gro, Cl B |
|
|
3,173,454 |
|
| AB VPS Relative Val, Cl B |
|
|
387,112 |
|
| AB VPS Sus Gbl Thematic, Cl B |
|
|
196,072 |
|
| Allspg VT Index Asset Alloc, Cl 2 |
|
|
318,814 |
|
| Allspg VT Opp, Cl 2 |
|
|
545,068 |
|
| Allspg VT Sm Cap Gro, Cl 2 |
|
|
334,824 |
|
| ALPS Alerian Engy Infr, Class III |
|
|
564,222 |
|
| BlackRock Adv SMID Cap VI, Cl III |
|
|
58,102 |
|
| BlackRock Global Alloc, Cl III |
|
|
1,720,257 |
|
| BNY Mellon Sus US Eq, Serv |
|
|
8,443 |
|
| Calvert VP SRI Bal, Cl F |
|
|
129,442 |
|
| Calvert VP SRI Bal, Cl I |
|
|
214,636 |
|
| CB Var Sm Cap Gro, Cl I |
|
|
30,534 |
|
| Col VP Bal, Cl 2 |
|
|
4,656,087 |
|
| Col VP Bal, Cl 3 |
|
|
4,581,257 |
|
| Col VP Commodity Strategy, Cl 2 |
|
|
100,039 |
|
| Col VP Contrarian Core, Cl 2 |
|
|
1,106,103 |
|
| Col VP Disciplined Core, Cl 2 |
|
|
799,729 |
|
| Col VP Disciplined Core, Cl 3 |
|
|
118,751 |
|
| Col VP Divd Opp, Cl 2 |
|
|
1,323,246 |
|
| Col VP Divd Opp, Cl 3 |
|
|
774,920 |
|
| Col VP Emerg Mkts Bond, Cl 2 |
|
|
120,163 |
|
| Col VP Emer Mkts, Cl 2 |
|
|
282,689 |
|
| Col VP Emer Mkts, Cl 3 |
|
|
198,794 |
|
| Col VP Global Strategic Inc, Cl 2 |
|
|
235,986 |
|
| Col VP Global Strategic Inc, Cl 3 |
|
|
305,715 |
|
| Col VP Govt Money Mkt, Cl 2 |
|
|
8,763,363 |
|
| Col VP Govt Money Mkt, Cl 3 |
|
|
3,516,341 |
|
| Col VP Hi Yield Bond, Cl 2 |
|
|
1,725,115 |
|
| Col VP Hi Yield Bond, Cl 3 |
|
|
514,798 |
|
| Col VP Inc Opp, Cl 2 |
|
|
909,161 |
|
| Col VP Inc Opp, Cl 3 |
|
|
879,582 |
|
| Col VP Inter Bond, Cl 2 |
|
|
1,610,523 |
|
| Col VP Inter Bond, Cl 3 |
|
|
1,151,263 |
|
| Col VP Lg Cap Gro, Cl 2 |
|
|
1,756,607 |
|
| Col VP Lg Cap Gro, Cl 3 |
|
|
184,981 |
|
| Col VP Lg Cap Index, Cl 2 |
|
|
17,571,573 |
|
| Col VP Lg Cap Index, Cl 3 |
|
|
7,273,887 |
|
| Col VP Limited Duration Cr, Cl 2 |
|
|
739,021 |
|
| Col VP Long Govt/Cr Bond, Cl 2 |
|
|
564,183 |
|
| Col VP Overseas Core, Cl 2 |
|
|
793,316 |
|
| Col VP Overseas Core, Cl 3 |
|
|
180,570 |
|
| Col VP Select Lg Cap Eq, Cl 2 |
|
|
496,395 |
|
| Col VP Select Lg Cap Val, Cl 2 |
|
|
1,035,025 |
|
|
|
|
|
|
| Division |
|
Purchases |
|
| Col VP Select Lg Cap Val, Cl 3 |
|
|
165,750 |
|
| Col VP Select Mid Cap Gro, Cl 2 |
|
|
324,840 |
|
| Col VP Select Mid Cap Gro, Cl 3 |
|
|
366,182 |
|
| Col VP Select Mid Cap Val, Cl 2 |
|
|
450,882 |
|
| Col VP Select Mid Cap Val, Cl 3 |
|
|
31,889 |
|
| Col VP Select Sm Cap Val, Cl 2 |
|
|
172,124 |
|
| Col VP Select Sm Cap Val, Cl 3 |
|
|
60,577 |
|
| Col VP Sel Gbl Tech, Cl 2 |
|
|
649,483 |
|
| Col VP Sm Cap Val, Cl 2 |
|
|
167,348 |
|
| Col VP Strategic Inc, Cl 2 |
|
|
2,606,040 |
|
| Col VP US Govt Mtge, Cl 2 |
|
|
3,943,208 |
|
| Col VP US Govt Mtge, Cl 3 |
|
|
93,340 |
|
| CS Commodity Return, Cl 1 |
|
|
44,147 |
|
| CTIVP AC Div Bond, Cl 2 |
|
|
215,096 |
|
| CTIVP BR Gl Infl Prot Sec, Cl 2 |
|
|
121,522 |
|
| CTIVP BR Gl Infl Prot Sec, Cl 3 |
|
|
254,427 |
|
| CTIVP CenterSquare Real Est, Cl 2 |
|
|
102,263 |
|
| CTIVP MFS Val, Cl 2 |
|
|
2,024,181 |
|
| CTIVP Prin Blue Chip Gro, Cl 1 |
|
|
53,340 |
|
| CTIVP Prin Blue Chip Gro, Cl 2 |
|
|
570,219 |
|
| CTIVP T Rowe Price LgCap Val, Cl 2 |
|
|
497,574 |
|
| CTIVP TCW Core Plus Bond, Cl 2 |
|
|
590,066 |
|
| CTIVP Vty Sycamore Estb Val, Cl 2 |
|
|
750,593 |
|
| CTIVP Vty Sycamore Estb Val, Cl 3 |
|
|
65,038 |
|
| CTIVP Westfield Mid Cap Gro, Cl 2 |
|
|
108,359 |
|
| CTIVP Westfield Sel Lg Cp Gr, Cl 2 |
|
|
35,425 |
|
| CVT EAFE Intl Index, Cl F |
|
|
293,349 |
|
| CVT Nasdaq 100 Index, Cl F |
|
|
4,266,121 |
|
| CVT Russ 2000 Sm Cap Ind, Cl F |
|
|
377,967 |
|
| DWS Alt Asset Alloc VIP, Cl B |
|
|
449,244 |
|
| EV VT Floating-Rate Inc, Init Cl |
|
|
1,177,763 |
|
| Fid VIP Contrafund, Serv Cl 2 |
|
|
13,021,133 |
|
| Fid VIP Emer Mkts, Serv Cl 2 |
|
|
42,009 |
|
| Fid VIP Energy, Serv Cl 2 |
|
|
283,433 |
|
| Fid VIP Gro & Inc, Serv Cl |
|
|
89,022 |
|
| Fid VIP Gro & Inc, Serv Cl 2 |
|
|
1,390,509 |
|
| Fid VIP Gro Opp, Serv Cl 2 |
|
|
345,359 |
|
| Fid VIP Intl Cap Appr, Serv Cl 2 |
|
|
152,608 |
|
| Fid VIP Invest Gr, Serv Cl 2 |
|
|
827,476 |
|
| Fid VIP Mid Cap, Serv Cl |
|
|
254,752 |
|
| Fid VIP Mid Cap, Serv Cl 2 |
|
|
6,833,634 |
|
| Fid VIP Overseas, Serv Cl |
|
|
18,651 |
|
| Fid VIP Overseas, Serv Cl 2 |
|
|
483,366 |
|
| Fid VIP Strategic Inc, Serv Cl 2 |
|
|
2,708,348 |
|
| Frank Global Real Est, Cl 2 |
|
|
113,817 |
|
| Frank Inc, Cl 2 |
|
|
486,198 |
|
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
125 |
|
|
|
|
|
|
| Division |
|
Purchases |
|
| Frank Inc, Cl 4 |
|
|
233,133 |
|
| Frank Mutual Gbl Dis, Cl 4 |
|
|
43,171 |
|
| Frank Mutual Shares, Cl 2 |
|
|
494,175 |
|
| Frank Sm Cap Val, Cl 2 |
|
|
499,185 |
|
| Frank Sm Cap Val, Cl 4 |
|
|
344,538 |
|
| GS VIT Mid Cap Val, Inst |
|
|
459,904 |
|
| GS VIT Multi-Strategy Alt, Advisor |
|
|
51,035 |
|
| GS VIT Multi-Strategy Alt, Serv |
|
|
38,141 |
|
| GS VIT Sm Cap Eq Insights, Inst |
|
|
14,450 |
|
| GS VIT Sm Cap Eq Insights, Serv |
|
|
45,248 |
|
| GS VIT U.S. Eq Insights, Inst |
|
|
565,207 |
|
| Invesco VI Am Fran, Ser I |
|
|
3,996 |
|
| Invesco VI Am Fran, Ser II |
|
|
11,996 |
|
| Invesco VI Bal Risk Alloc, Ser II |
|
|
251,659 |
|
| Invesco VI Comstock, Ser II |
|
|
445,988 |
|
| Invesco VI Core Eq, Ser I |
|
|
581,219 |
|
| Invesco VI Core Plus Bond, Ser II |
|
|
107,817 |
|
| Invesco VI Dis Mid Cap Gro, Ser I |
|
|
5,827 |
|
| Invesco VI Dis Mid Cap Gro, Ser II |
|
|
14,105 |
|
| Invesco VI Div Divd, Ser I |
|
|
42,695 |
|
| Invesco VI Div Divd, Ser II |
|
|
27,777 |
|
| Invesco VI EQV Intl Eq, Ser II |
|
|
81,278 |
|
| Invesco VI Global, Ser II |
|
|
1,351,643 |
|
| Invesco VI Gbl Strat Inc, Ser II |
|
|
505,991 |
|
| Invesco VI Hlth, Ser II |
|
|
73,250 |
|
| Invesco VI Main St, Ser II |
|
|
16,113 |
|
| Invesco VI Mn St Sm Cap, Ser II |
|
|
1,280,309 |
|
| Invesco VI Tech, Ser I |
|
|
106,318 |
|
| Invesco VI Tech, Ser II |
|
|
843,862 |
|
| Janus Henderson VIT Bal, Serv |
|
|
3,071,625 |
|
| Janus Henderson VIT Enter, Serv |
|
|
28,041 |
|
| Janus Henderson VIT Flex Bd, Serv |
|
|
2,136,059 |
|
| Janus Henderson VIT Forty, Serv |
|
|
2,645,385 |
|
| Janus Hend VIT Gbl Tech Innov, Srv |
|
|
245,492 |
|
| Janus Henderson VIT Overseas, Serv |
|
|
172,058 |
|
| Janus Henderson VIT Res, Serv |
|
|
193,515 |
|
| Lazard Ret Emer Mkts Eq, Serv |
|
|
192,051 |
|
| Lazard Ret Global Dyn MA, Serv |
|
|
5,988 |
|
| Lord Abt Bond Debenture, Cl VC |
|
|
389,155 |
|
| Lord Abt Short Dur Inc, Cl VC |
|
|
295,012 |
|
| LVIP AC Intl, Serv Cl |
|
|
105,839 |
|
| LVIP AC Intl, Std Cl II |
|
|
2,594 |
|
| LVIP AC Mid Cap Val, Serv Cl |
|
|
403,898 |
|
| LVIP AC Ultra, Serv Cl |
|
|
695,727 |
|
| LVIP AC Val, Serv Cl |
|
|
1,633,099 |
|
| LVIP AC Val, Std Cl II |
|
|
44,812 |
|
| LVIP JPM US Eq, Serv Cl |
|
|
15,928 |
|
| Mac VIP Asset Strategy, Serv Cl |
|
|
77,347 |
|
| Mac VIP for Inc, Serv Cl |
|
|
29,301 |
|
| Mac VIP Intl Core Eq, Serv Cl |
|
|
151,236 |
|
| MFS Gbl Real Est, Serv Cl |
|
|
25,021 |
|
| MFS Intl Gro, Serv Cl |
|
|
127,074 |
|
|
|
|
|
|
| Division |
|
Purchases |
|
| MFS Mass Inv Gro Stock, Serv Cl |
|
|
373,686 |
|
| MFS New Dis, Serv Cl |
|
|
27,035 |
|
| MFS Research Intl, Serv Cl |
|
|
94,374 |
|
| MFS Utilities, Serv Cl |
|
|
857,171 |
|
| MS VIF Dis, Cl II |
|
|
637,970 |
|
| NB AMT Sus Eq, Cl S |
|
|
125,523 |
|
| PIMCO VIT All Asset, Advisor Cl |
|
|
317,085 |
|
| PIMCO VIT Glb Man As Alloc, Adv Cl |
|
|
15,079 |
|
| PIMCO VIT Tot Return, Advisor Cl |
|
|
1,831,816 |
|
| Put VT Global Hlth Care, Cl IB |
|
|
275,980 |
|
| Put VT Intl Eq, Cl IB |
|
|
19,670 |
|
| Put VT Intl Val, Cl IB |
|
|
108,460 |
|
| Put VT Lg Cap Val, Cl IB |
|
|
586,623 |
|
| Put VT Sus Fut, Cl IB |
|
|
12,000 |
|
| Put VT Sus Leaders, Cl IA |
|
|
85,778 |
|
| Put VT Sus Leaders, Cl IB |
|
|
15,965 |
|
| Royce Micro-Cap, Invest Cl |
|
|
25,424 |
|
| Temp Global Bond, Cl 2 |
|
|
110,489 |
|
| Third Ave VST Third Ave Value |
|
|
56,994 |
|
| VanEck VIP Global Gold, Cl S |
|
|
235,611 |
|
| VP Aggr, Cl 2 |
|
|
7,259,929 |
|
| VP Aggr, Cl 4 |
|
|
1,156,785 |
|
| VP Conserv, Cl 2 |
|
|
3,146,902 |
|
| VP Conserv, Cl 4 |
|
|
1,932,385 |
|
| VP Man Risk, Cl 2 |
|
|
109,604 |
|
| VP Man Risk US, Cl 2 |
|
|
3,411,375 |
|
| VP Man Vol Conserv, Cl 2 |
|
|
5,292,996 |
|
| VP Man Vol Conserv Gro, Cl 2 |
|
|
9,390,054 |
|
| VP Man Vol Gro, Cl 2 |
|
|
17,329,188 |
|
| VP Man Vol Mod Gro, Cl 2 |
|
|
25,215,300 |
|
| VP Mod, Cl 2 |
|
|
23,994,269 |
|
| VP Mod, Cl 4 |
|
|
3,090,228 |
|
| VP Mod Aggr, Cl 2 |
|
|
17,349,855 |
|
| VP Mod Aggr, Cl 4 |
|
|
1,025,722 |
|
| VP Mod Conserv, Cl 2 |
|
|
5,433,065 |
|
| VP Mod Conserv, Cl 4 |
|
|
988,325 |
|
| VP Ptnrs Core Bond, Cl 2 |
|
|
222,913 |
|
| VP Ptnrs Core Eq, Cl 2 |
|
|
380,711 |
|
| VP Ptnrs Core Eq, Cl 3 |
|
|
14,552 |
|
| VP Ptnrs Intl Core Eq, Cl 2 |
|
|
612,174 |
|
| VP Ptnrs Intl Gro, Cl 2 |
|
|
271,219 |
|
| VP Ptnrs Intl Val, Cl 2 |
|
|
108,665 |
|
| VP Ptnrs Sm Cap Gro, Cl 2 |
|
|
311,974 |
|
| VP Ptnrs Sm Cap Val, Cl 2 |
|
|
182,459 |
|
| VP Ptnrs Sm Cap Val, Cl 3 |
|
|
51,795 |
|
| VP US Flex Conserv Gro, Cl 2 |
|
|
2,232,021 |
|
| VP US Flex Gro, Cl 2 |
|
|
11,964,462 |
|
| VP US Flex Mod Gro, Cl 2 |
|
|
3,028,785 |
|
| Wanger Acorn |
|
|
124,961 |
|
| Wanger Intl |
|
|
271,223 |
|
| WA Var Global Hi Yd Bond, Cl II |
|
|
134,675 |
|
|
|
|
|
|
| 126 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
8. FINANCIAL HIGHLIGHTS
The table below shows certain financial information regarding the divisions.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| AB VPS Dyn Asset Alloc, Cl B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
486 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.31 |
|
|
|
$693 |
|
|
|
|
|
|
|
1.00 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.81 |
% |
|
|
to |
|
|
|
8.39 |
% |
| 2023 |
|
|
549 |
|
|
|
$1.39 |
|
|
|
to |
|
|
|
$1.21 |
|
|
|
$714 |
|
|
|
|
|
|
|
0.44 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.86 |
% |
|
|
to |
|
|
|
11.40 |
% |
| 2022 |
|
|
984 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$1,151 |
|
|
|
|
|
|
|
2.32 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(19.12 |
%) |
|
|
to |
|
|
|
(20.16 |
%) |
| 2021 |
|
|
600 |
|
|
|
$1.52 |
|
|
|
to |
|
|
|
$1.36 |
|
|
|
$866 |
|
|
|
|
|
|
|
1.41 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.68 |
% |
|
|
to |
|
|
|
7.27 |
% |
| 2020 |
|
|
702 |
|
|
|
$1.40 |
|
|
|
to |
|
|
|
$1.27 |
|
|
|
$939 |
|
|
|
|
|
|
|
1.49 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.29 |
% |
|
|
to |
|
|
|
2.93 |
% |
| AB VPS Intl Val, Cl B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,957 |
|
|
|
$1.46 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$3,388 |
|
|
|
|
|
|
|
2.26 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.23 |
% |
|
|
to |
|
|
|
3.29 |
% |
| 2023 |
|
|
2,181 |
|
|
|
$1.40 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$3,634 |
|
|
|
|
|
|
|
0.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
14.20 |
% |
|
|
to |
|
|
|
13.19 |
% |
| 2022 |
|
|
2,385 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$0.79 |
|
|
|
$3,528 |
|
|
|
|
|
|
|
4.15 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(14.27 |
%) |
|
|
to |
|
|
|
(15.04 |
%) |
| 2021 |
|
|
2,577 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$4,427 |
|
|
|
|
|
|
|
1.66 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
10.25 |
% |
|
|
to |
|
|
|
9.26 |
% |
| 2020 |
|
|
2,729 |
|
|
|
$1.30 |
|
|
|
to |
|
|
|
$0.85 |
|
|
|
$4,384 |
|
|
|
|
|
|
|
1.52 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
1.65 |
% |
|
|
to |
|
|
|
0.74 |
% |
| AB VPS Lg Cap Gro, Cl B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,891 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$4.89 |
|
|
|
$12,949 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.14 |
% |
|
|
to |
|
|
|
22.65 |
% |
| 2023 |
|
|
1,824 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$3.99 |
|
|
|
$10,229 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
33.92 |
% |
|
|
to |
|
|
|
32.33 |
% |
| 2022 |
|
|
1,675 |
|
|
|
$0.91 |
|
|
|
to |
|
|
|
$3.02 |
|
|
|
$6,953 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(9.89 |
%)(7) |
|
|
to |
|
|
|
(29.99 |
%) |
| 2021 |
|
|
1,316 |
|
|
|
$6.48 |
|
|
|
to |
|
|
|
$4.31 |
|
|
|
$8,593 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
27.56 |
% |
|
|
to |
|
|
|
26.30 |
% |
| 2020 |
|
|
1,108 |
|
|
|
$5.08 |
|
|
|
to |
|
|
|
$3.41 |
|
|
|
$5,685 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
34.00 |
% |
|
|
to |
|
|
|
32.67 |
% |
| AB VPS Relative Val, Cl B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,095 |
|
|
|
$4.29 |
|
|
|
to |
|
|
|
$1.22 |
|
|
|
$4,515 |
|
|
|
|
|
|
|
1.24 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
12.14 |
% |
|
|
to |
|
|
|
11.02 |
% |
| 2023 |
|
|
1,282 |
|
|
|
$3.83 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$4,744 |
|
|
|
|
|
|
|
1.29 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
11.11 |
% |
|
|
to |
|
|
|
10.01 |
% |
| 2022 |
|
|
1,407 |
|
|
|
$3.45 |
|
|
|
to |
|
|
|
$1.00 |
|
|
|
$4,689 |
|
|
|
|
|
|
|
1.10 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(4.94 |
%) |
|
|
to |
|
|
|
(0.06 |
%)(7) |
| 2021 |
|
|
1,488 |
|
|
|
$3.62 |
|
|
|
to |
|
|
|
$2.96 |
|
|
|
$5,256 |
|
|
|
|
|
|
|
0.64 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
27.14 |
% |
|
|
to |
|
|
|
26.00 |
% |
| 2020 |
|
|
1,648 |
|
|
|
$2.85 |
|
|
|
to |
|
|
|
$2.35 |
|
|
|
$4,593 |
|
|
|
|
|
|
|
1.34 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
1.91 |
% |
|
|
to |
|
|
|
1.00 |
% |
| AB VPS Sus Gbl Thematic, Cl B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
182 |
|
|
|
$3.26 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$569 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.38 |
% |
|
|
to |
|
|
|
4.32 |
% |
| 2023 |
|
|
149 |
|
|
|
$3.09 |
|
|
|
to |
|
|
|
$1.07 |
|
|
|
$448 |
|
|
|
|
|
|
|
0.03 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
15.07 |
% |
|
|
to |
|
|
|
13.93 |
% |
| 2022 |
|
|
168 |
|
|
|
$2.69 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$442 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(27.57 |
%) |
|
|
to |
|
|
|
(6.14 |
%)(7) |
| 2021 |
|
|
186 |
|
|
|
$3.71 |
|
|
|
to |
|
|
|
$3.50 |
|
|
|
$681 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
21.90 |
% |
|
|
to |
|
|
|
20.81 |
% |
| 2020 |
|
|
212 |
|
|
|
$3.05 |
|
|
|
to |
|
|
|
$2.90 |
|
|
|
$641 |
|
|
|
|
|
|
|
0.45 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
38.31 |
% |
|
|
to |
|
|
|
37.08 |
% |
| Allspg VT Index Asset Alloc, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
563 |
|
|
|
$4.07 |
|
|
|
to |
|
|
|
$4.20 |
|
|
|
$2,271 |
|
|
|
|
|
|
|
1.31 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
14.01 |
% |
|
|
to |
|
|
|
13.49 |
% |
| 2023 |
|
|
670 |
|
|
|
$3.57 |
|
|
|
to |
|
|
|
$3.70 |
|
|
|
$2,386 |
|
|
|
|
|
|
|
0.96 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
15.83 |
% |
|
|
to |
|
|
|
15.31 |
% |
| 2022 |
|
|
642 |
|
|
|
$3.08 |
|
|
|
to |
|
|
|
$3.21 |
|
|
|
$1,978 |
|
|
|
|
|
|
|
0.63 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(17.64 |
%) |
|
|
to |
|
|
|
(18.01 |
%) |
| 2021 |
|
|
692 |
|
|
|
$3.74 |
|
|
|
to |
|
|
|
$3.91 |
|
|
|
$2,588 |
|
|
|
|
|
|
|
0.58 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
15.13 |
% |
|
|
to |
|
|
|
14.61 |
% |
| 2020 |
|
|
741 |
|
|
|
$3.25 |
|
|
|
to |
|
|
|
$3.41 |
|
|
|
$2,407 |
|
|
|
|
|
|
|
0.83 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
15.72 |
% |
|
|
to |
|
|
|
15.20 |
% |
| Allspg VT Opp, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
505 |
|
|
|
$5.75 |
|
|
|
to |
|
|
|
$2.92 |
|
|
|
$2,963 |
|
|
|
|
|
|
|
0.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.41 |
% |
|
|
to |
|
|
|
12.93 |
% |
| 2023 |
|
|
502 |
|
|
|
$5.03 |
|
|
|
to |
|
|
|
$2.58 |
|
|
|
$2,553 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
25.81 |
% |
|
|
to |
|
|
|
24.19 |
% |
| 2022 |
|
|
533 |
|
|
|
$4.00 |
|
|
|
to |
|
|
|
$2.08 |
|
|
|
$2,164 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(21.24 |
%) |
|
|
to |
|
|
|
(22.25 |
%) |
| 2021 |
|
|
635 |
|
|
|
$5.07 |
|
|
|
to |
|
|
|
$2.68 |
|
|
|
$3,255 |
|
|
|
|
|
|
|
0.04 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.09 |
% |
|
|
to |
|
|
|
22.49 |
% |
| 2020 |
|
|
671 |
|
|
|
$4.09 |
|
|
|
to |
|
|
|
$2.18 |
|
|
|
$2,786 |
|
|
|
|
|
|
|
0.44 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
20.34 |
% |
|
|
to |
|
|
|
18.79 |
% |
| Allspg VT Sm Cap Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
966 |
|
|
|
$5.21 |
|
|
|
to |
|
|
|
$2.47 |
|
|
|
$4,483 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
18.05 |
% |
|
|
to |
|
|
|
16.51 |
% |
| 2023 |
|
|
1,054 |
|
|
|
$4.42 |
|
|
|
to |
|
|
|
$2.12 |
|
|
|
$4,170 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.54 |
% |
|
|
to |
|
|
|
2.20 |
% |
| 2022 |
|
|
1,113 |
|
|
|
$4.26 |
|
|
|
to |
|
|
|
$2.07 |
|
|
|
$4,256 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(34.78 |
%) |
|
|
to |
|
|
|
(35.62 |
%) |
| 2021 |
|
|
1,096 |
|
|
|
$6.54 |
|
|
|
to |
|
|
|
$3.22 |
|
|
|
$6,481 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.05 |
% |
|
|
to |
|
|
|
5.66 |
% |
| 2020 |
|
|
1,085 |
|
|
|
$6.11 |
|
|
|
to |
|
|
|
$3.05 |
|
|
|
$5,981 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
56.92 |
% |
|
|
to |
|
|
|
54.89 |
% |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
127 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| ALPS Alerian Engy Infr, Class III |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,286 |
|
|
|
$1.84 |
|
|
|
to |
|
|
|
$1.58 |
|
|
|
$2,246 |
|
|
|
|
|
|
|
3.52 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
39.82 |
% |
|
|
to |
|
|
|
38.01 |
% |
| 2023 |
|
|
1,617 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$2,022 |
|
|
|
|
|
|
|
3.07 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.28 |
% |
|
|
to |
|
|
|
11.82 |
% |
| 2022 |
|
|
1,767 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$1,963 |
|
|
|
|
|
|
|
4.41 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.68 |
% |
|
|
to |
|
|
|
15.18 |
% |
| 2021 |
|
|
1,865 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$0.89 |
|
|
|
$1,786 |
|
|
|
|
|
|
|
1.95 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
37.02 |
% |
|
|
to |
|
|
|
35.25 |
% |
| 2020 |
|
|
1,816 |
|
|
|
$0.73 |
|
|
|
to |
|
|
|
$0.66 |
|
|
|
$1,277 |
|
|
|
|
|
|
|
2.91 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(25.54 |
%) |
|
|
to |
|
|
|
(26.50 |
%) |
| BlackRock Adv SMID Cap VI, Cl III |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
290 |
|
|
|
$1.26 |
|
|
|
to |
|
|
|
$1.23 |
|
|
|
$364 |
|
|
|
|
|
|
|
1.51 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
10.98 |
% |
|
|
to |
|
|
|
9.99 |
% |
| 2023 |
|
|
258 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$293 |
|
|
|
|
|
|
|
2.73 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
17.86 |
% |
|
|
to |
|
|
|
16.82 |
% |
| 2022 |
|
|
135 |
|
|
|
$0.97 |
|
|
|
to |
|
|
|
$0.96 |
|
|
|
$131 |
|
|
|
|
|
|
|
5.12 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(4.28 |
%)(7) |
|
|
to |
|
|
|
(4.84 |
%)(7) |
| BlackRock Global Alloc, Cl III |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
3,805 |
|
|
|
$1.89 |
|
|
|
to |
|
|
|
$1.49 |
|
|
|
$6,783 |
|
|
|
|
|
|
|
0.82 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.32 |
% |
|
|
to |
|
|
|
6.93 |
% |
| 2023 |
|
|
3,690 |
|
|
|
$1.75 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$6,171 |
|
|
|
|
|
|
|
2.59 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.88 |
% |
|
|
to |
|
|
|
10.44 |
% |
| 2022 |
|
|
3,685 |
|
|
|
$1.56 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$5,542 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.53 |
%) |
|
|
to |
|
|
|
(17.61 |
%) |
| 2021 |
|
|
3,669 |
|
|
|
$1.87 |
|
|
|
to |
|
|
|
$1.53 |
|
|
|
$6,656 |
|
|
|
|
|
|
|
0.92 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.83 |
% |
|
|
to |
|
|
|
4.47 |
% |
| 2020 |
|
|
2,193 |
|
|
|
$1.77 |
|
|
|
to |
|
|
|
$1.47 |
|
|
|
$3,711 |
|
|
|
|
|
|
|
1.39 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
20.05 |
% |
|
|
to |
|
|
|
18.49 |
% |
| BNY Mellon Sus US Eq, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
57 |
|
|
|
$1.40 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$82 |
|
|
|
|
|
|
|
0.38 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
23.77 |
% |
|
|
to |
|
|
|
22.65 |
% |
| 2023 |
|
|
55 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$64 |
|
|
|
|
|
|
|
0.06 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
22.71 |
% |
|
|
to |
|
|
|
21.61 |
% |
| 2022 |
|
|
— |
|
|
|
$0.92 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$3 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(7.93 |
%)(7) |
|
|
to |
|
|
|
(8.48 |
%)(7) |
| Calvert VP SRI Bal, Cl F |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
364 |
|
|
|
$1.30 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$469 |
|
|
|
|
|
|
|
1.94 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
18.15 |
% |
|
|
to |
|
|
|
17.07 |
% |
| 2023 |
|
|
288 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$315 |
|
|
|
|
|
|
|
2.12 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
15.67 |
% |
|
|
to |
|
|
|
14.64 |
% |
| 2022 |
|
|
91 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$87 |
|
|
|
|
|
|
|
2.18 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(5.21 |
%)(7) |
|
|
to |
|
|
|
(5.79 |
%)(7) |
| Calvert VP SRI Bal, Cl I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
740 |
|
|
|
$3.48 |
|
|
|
to |
|
|
|
$3.61 |
|
|
|
$2,300 |
|
|
|
|
|
|
|
1.72 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
18.95 |
% |
|
|
to |
|
|
|
18.18 |
% |
| 2023 |
|
|
742 |
|
|
|
$2.93 |
|
|
|
to |
|
|
|
$3.06 |
|
|
|
$1,949 |
|
|
|
|
|
|
|
1.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
16.18 |
% |
|
|
to |
|
|
|
15.43 |
% |
| 2022 |
|
|
461 |
|
|
|
$2.52 |
|
|
|
to |
|
|
|
$2.65 |
|
|
|
$1,052 |
|
|
|
|
|
|
|
1.15 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(15.88 |
%) |
|
|
to |
|
|
|
(16.42 |
%) |
| 2021 |
|
|
218 |
|
|
|
$3.00 |
|
|
|
to |
|
|
|
$3.17 |
|
|
|
$590 |
|
|
|
|
|
|
|
1.17 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
14.48 |
% |
|
|
to |
|
|
|
13.74 |
% |
| 2020 |
|
|
318 |
|
|
|
$2.62 |
|
|
|
to |
|
|
|
$2.79 |
|
|
|
$753 |
|
|
|
|
|
|
|
1.46 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
14.63 |
% |
|
|
to |
|
|
|
13.88 |
% |
| CB Var Sm Cap Gro, Cl I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
123 |
|
|
|
$3.91 |
|
|
|
to |
|
|
|
$3.34 |
|
|
|
$455 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.92 |
% |
|
|
to |
|
|
|
2.99 |
% |
| 2023 |
|
|
133 |
|
|
|
$3.77 |
|
|
|
to |
|
|
|
$3.24 |
|
|
|
$472 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
7.81 |
% |
|
|
to |
|
|
|
6.85 |
% |
| 2022 |
|
|
132 |
|
|
|
$3.49 |
|
|
|
to |
|
|
|
$3.03 |
|
|
|
$437 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(29.24 |
%) |
|
|
to |
|
|
|
(29.87 |
%) |
| 2021 |
|
|
142 |
|
|
|
$4.94 |
|
|
|
to |
|
|
|
$4.33 |
|
|
|
$666 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.99 |
% |
|
|
to |
|
|
|
10.99 |
% |
| 2020 |
|
|
178 |
|
|
|
$4.41 |
|
|
|
to |
|
|
|
$3.90 |
|
|
|
$747 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
42.48 |
% |
|
|
to |
|
|
|
41.20 |
% |
| Col VP Bal, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
15,637 |
|
|
|
$1.26 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$18,491 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
13.56 |
% |
|
|
to |
|
|
|
12.54 |
% |
| 2023 |
|
|
12,308 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$12,876 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
20.32 |
% |
|
|
to |
|
|
|
19.24 |
% |
| 2022 |
|
|
9,421 |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$0.86 |
|
|
|
$8,221 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(7.47 |
%)(7) |
|
|
to |
|
|
|
(18.14 |
%) |
| 2021 |
|
|
2,845 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$1.06 |
|
|
|
$3,011 |
|
|
|
|
|
|
|
— |
|
|
|
0.95 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.79 |
%(6) |
|
|
to |
|
|
|
5.37 |
%(6) |
| Col VP Bal, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
15,401 |
|
|
|
$3.79 |
|
|
|
to |
|
|
|
$2.22 |
|
|
|
$52,593 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.80 |
% |
|
|
to |
|
|
|
12.32 |
% |
| 2023 |
|
|
16,442 |
|
|
|
$3.33 |
|
|
|
to |
|
|
|
$1.98 |
|
|
|
$49,685 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
20.57 |
% |
|
|
to |
|
|
|
19.02 |
% |
| 2022 |
|
|
16,873 |
|
|
|
$2.77 |
|
|
|
to |
|
|
|
$1.66 |
|
|
|
$42,719 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.20 |
%) |
|
|
to |
|
|
|
(18.27 |
%) |
| 2021 |
|
|
16,796 |
|
|
|
$3.34 |
|
|
|
to |
|
|
|
$2.03 |
|
|
|
$51,780 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.11 |
% |
|
|
to |
|
|
|
12.63 |
% |
| 2020 |
|
|
15,996 |
|
|
|
$2.93 |
|
|
|
to |
|
|
|
$1.80 |
|
|
|
$43,557 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.94 |
% |
|
|
to |
|
|
|
15.43 |
% |
| Col VP Commodity Strategy, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
777 |
|
|
|
$0.85 |
|
|
|
to |
|
|
|
$0.73 |
|
|
|
$623 |
|
|
|
|
|
|
|
3.40 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.51 |
% |
|
|
to |
|
|
|
5.12 |
% |
| 2023 |
|
|
870 |
|
|
|
$0.80 |
|
|
|
to |
|
|
|
$0.69 |
|
|
|
$658 |
|
|
|
|
|
|
|
22.37 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(7.65 |
%) |
|
|
to |
|
|
|
(8.84 |
%) |
| 2022 |
|
|
782 |
|
|
|
$0.86 |
|
|
|
to |
|
|
|
$0.76 |
|
|
|
$642 |
|
|
|
|
|
|
|
24.85 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
18.05 |
% |
|
|
to |
|
|
|
16.53 |
% |
| 2021 |
|
|
1,073 |
|
|
|
$0.73 |
|
|
|
to |
|
|
|
$0.65 |
|
|
|
$754 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
31.29 |
% |
|
|
to |
|
|
|
29.59 |
% |
| 2020 |
|
|
892 |
|
|
|
$0.56 |
|
|
|
to |
|
|
|
$0.50 |
|
|
|
$479 |
|
|
|
|
|
|
|
19.81 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.09 |
%) |
|
|
to |
|
|
|
(3.36 |
%) |
|
|
|
|
|
| 128 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Col VP Contrarian Core, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,798 |
|
|
|
$4.20 |
|
|
|
to |
|
|
|
$3.61 |
|
|
|
$7,115 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
22.42 |
% |
|
|
to |
|
|
|
20.83 |
% |
| 2023 |
|
|
1,860 |
|
|
|
$3.43 |
|
|
|
to |
|
|
|
$2.98 |
|
|
|
$6,034 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
31.17 |
% |
|
|
to |
|
|
|
29.48 |
% |
| 2022 |
|
|
1,734 |
|
|
|
$2.62 |
|
|
|
to |
|
|
|
$2.31 |
|
|
|
$4,305 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(19.30 |
%) |
|
|
to |
|
|
|
(20.34 |
%) |
| 2021 |
|
|
1,796 |
|
|
|
$3.24 |
|
|
|
to |
|
|
|
$2.89 |
|
|
|
$5,557 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
23.28 |
% |
|
|
to |
|
|
|
21.69 |
% |
| 2020 |
|
|
1,656 |
|
|
|
$2.63 |
|
|
|
to |
|
|
|
$2.38 |
|
|
|
$4,180 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
21.33 |
% |
|
|
to |
|
|
|
19.77 |
% |
| Col VP Disciplined Core, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
637 |
|
|
|
$1.42 |
|
|
|
to |
|
|
|
$3.43 |
|
|
|
$3,705 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.91 |
% |
|
|
to |
|
|
|
23.42 |
% |
| 2023 |
|
|
678 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$2.78 |
|
|
|
$3,182 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
23.28 |
% |
|
|
to |
|
|
|
21.81 |
% |
| 2022 |
|
|
556 |
|
|
|
$0.92 |
|
|
|
to |
|
|
|
$2.28 |
|
|
|
$2,123 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(8.58 |
%)(7) |
|
|
to |
|
|
|
(20.42 |
%) |
| 2021 |
|
|
480 |
|
|
|
$4.90 |
|
|
|
to |
|
|
|
$2.87 |
|
|
|
$2,288 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
31.31 |
% |
|
|
to |
|
|
|
30.01 |
% |
| 2020 |
|
|
410 |
|
|
|
$3.73 |
|
|
|
to |
|
|
|
$2.20 |
|
|
|
$1,490 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.87 |
% |
|
|
to |
|
|
|
11.74 |
% |
| Col VP Disciplined Core, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
4,079 |
|
|
|
$5.62 |
|
|
|
to |
|
|
|
$4.43 |
|
|
|
$20,585 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
25.20 |
% |
|
|
to |
|
|
|
24.08 |
% |
| 2023 |
|
|
4,412 |
|
|
|
$4.49 |
|
|
|
to |
|
|
|
$3.57 |
|
|
|
$17,906 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.55 |
% |
|
|
to |
|
|
|
22.45 |
% |
| 2022 |
|
|
4,860 |
|
|
|
$3.63 |
|
|
|
to |
|
|
|
$2.91 |
|
|
|
$16,098 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(19.27 |
%) |
|
|
to |
|
|
|
(20.00 |
%) |
| 2021 |
|
|
5,345 |
|
|
|
$4.50 |
|
|
|
to |
|
|
|
$3.64 |
|
|
|
$21,946 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
31.84 |
% |
|
|
to |
|
|
|
30.66 |
% |
| 2020 |
|
|
5,965 |
|
|
|
$3.41 |
|
|
|
to |
|
|
|
$2.79 |
|
|
|
$18,580 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
13.36 |
% |
|
|
to |
|
|
|
12.34 |
% |
| Col VP Divd Opp, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,038 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$2.19 |
|
|
|
$6,945 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.37 |
% |
|
|
to |
|
|
|
13.00 |
% |
| 2023 |
|
|
1,943 |
|
|
|
$1.05 |
|
|
|
to |
|
|
|
$1.94 |
|
|
|
$5,830 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.16 |
% |
|
|
to |
|
|
|
2.92 |
% |
| 2022 |
|
|
1,771 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$1.89 |
|
|
|
$5,129 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.26 |
%(7) |
|
|
to |
|
|
|
(3.19 |
%) |
| 2021 |
|
|
1,208 |
|
|
|
$3.07 |
|
|
|
to |
|
|
|
$1.95 |
|
|
|
$3,600 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.83 |
% |
|
|
to |
|
|
|
23.59 |
% |
| 2020 |
|
|
981 |
|
|
|
$2.46 |
|
|
|
to |
|
|
|
$1.58 |
|
|
|
$2,351 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.05 |
% |
|
|
to |
|
|
|
(0.95 |
%) |
| Col VP Divd Opp, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
4,682 |
|
|
|
$4.13 |
|
|
|
to |
|
|
|
$2.83 |
|
|
|
$21,176 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
14.64 |
% |
|
|
to |
|
|
|
13.61 |
% |
| 2023 |
|
|
5,006 |
|
|
|
$3.60 |
|
|
|
to |
|
|
|
$2.49 |
|
|
|
$19,916 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.38 |
% |
|
|
to |
|
|
|
3.45 |
% |
| 2022 |
|
|
5,400 |
|
|
|
$3.45 |
|
|
|
to |
|
|
|
$2.41 |
|
|
|
$20,629 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(1.78 |
%) |
|
|
to |
|
|
|
(2.65 |
%) |
| 2021 |
|
|
5,968 |
|
|
|
$3.51 |
|
|
|
to |
|
|
|
$2.47 |
|
|
|
$23,277 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
25.33 |
% |
|
|
to |
|
|
|
24.20 |
% |
| 2020 |
|
|
6,509 |
|
|
|
$2.80 |
|
|
|
to |
|
|
|
$1.99 |
|
|
|
$20,365 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
0.47 |
% |
|
|
to |
|
|
|
(0.43 |
%) |
| Col VP Emerg Mkts Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
943 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$1,007 |
|
|
|
|
|
|
|
4.86 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.55 |
% |
|
|
to |
|
|
|
4.18 |
% |
| 2023 |
|
|
1,068 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$1,084 |
|
|
|
|
|
|
|
5.23 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.41 |
% |
|
|
to |
|
|
|
8.00 |
% |
| 2022 |
|
|
1,154 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.86 |
|
|
|
$1,076 |
|
|
|
|
|
|
|
4.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.61 |
%) |
|
|
to |
|
|
|
(17.69 |
%) |
| 2021 |
|
|
1,313 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$1,478 |
|
|
|
|
|
|
|
3.72 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.98 |
%) |
|
|
to |
|
|
|
(4.25 |
%) |
| 2020 |
|
|
1,171 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$1,366 |
|
|
|
|
|
|
|
3.52 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.58 |
% |
|
|
to |
|
|
|
5.18 |
% |
| Col VP Emer Mkts, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,964 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$1.05 |
|
|
|
$2,572 |
|
|
|
|
|
|
|
1.02 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.77 |
% |
|
|
to |
|
|
|
3.51 |
% |
| 2023 |
|
|
2,046 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$1.02 |
|
|
|
$2,566 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.49 |
% |
|
|
to |
|
|
|
7.20 |
% |
| 2022 |
|
|
2,060 |
|
|
|
$0.88 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$2,390 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(11.55 |
%)(7) |
|
|
to |
|
|
|
(34.30 |
%) |
| 2021 |
|
|
1,783 |
|
|
|
$1.79 |
|
|
|
to |
|
|
|
$1.44 |
|
|
|
$3,116 |
|
|
|
|
|
|
|
0.84 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(8.26 |
%) |
|
|
to |
|
|
|
(9.17 |
%) |
| 2020 |
|
|
1,485 |
|
|
|
$1.95 |
|
|
|
to |
|
|
|
$1.59 |
|
|
|
$2,832 |
|
|
|
|
|
|
|
0.42 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
32.04 |
% |
|
|
to |
|
|
|
30.74 |
% |
| Col VP Emer Mkts, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,412 |
|
|
|
$2.93 |
|
|
|
to |
|
|
|
$1.68 |
|
|
|
$3,690 |
|
|
|
|
|
|
|
1.16 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.92 |
% |
|
|
to |
|
|
|
3.97 |
% |
| 2023 |
|
|
1,652 |
|
|
|
$2.79 |
|
|
|
to |
|
|
|
$1.61 |
|
|
|
$4,053 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.71 |
% |
|
|
to |
|
|
|
7.74 |
% |
| 2022 |
|
|
1,752 |
|
|
|
$2.57 |
|
|
|
to |
|
|
|
$1.50 |
|
|
|
$3,977 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(33.34 |
%) |
|
|
to |
|
|
|
(33.94 |
%) |
| 2021 |
|
|
2,138 |
|
|
|
$3.85 |
|
|
|
to |
|
|
|
$2.26 |
|
|
|
$7,130 |
|
|
|
|
|
|
|
0.99 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(7.84 |
%) |
|
|
to |
|
|
|
(8.67 |
%) |
| 2020 |
|
|
2,265 |
|
|
|
$4.18 |
|
|
|
to |
|
|
|
$2.48 |
|
|
|
$8,366 |
|
|
|
|
|
|
|
0.55 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
32.63 |
% |
|
|
to |
|
|
|
31.44 |
% |
| Col VP Global Strategic Inc, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,255 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$0.80 |
|
|
|
$1,217 |
|
|
|
|
|
|
|
2.94 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.63 |
% |
|
|
to |
|
|
|
1.39 |
% |
| 2023 |
|
|
1,150 |
|
|
|
$1.03 |
|
|
|
to |
|
|
|
$0.78 |
|
|
|
$1,091 |
|
|
|
|
|
|
|
3.02 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.76 |
% |
|
|
to |
|
|
|
7.46 |
% |
| 2022 |
|
|
1,083 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.73 |
|
|
|
$948 |
|
|
|
|
|
|
|
3.18 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.91 |
%)(7) |
|
|
to |
|
|
|
(15.20 |
%) |
| 2021 |
|
|
940 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$0.86 |
|
|
|
$962 |
|
|
|
|
|
|
|
3.62 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.18 |
% |
|
|
to |
|
|
|
(0.82 |
%) |
| 2020 |
|
|
830 |
|
|
|
$1.05 |
|
|
|
to |
|
|
|
$0.87 |
|
|
|
$847 |
|
|
|
|
|
|
|
4.12 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.70 |
% |
|
|
to |
|
|
|
2.67 |
% |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
129 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Col VP Global Strategic Inc, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,528 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$2,403 |
|
|
|
|
|
|
|
3.31 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
2.68 |
% |
|
|
to |
|
|
|
1.75 |
% |
| 2023 |
|
|
1,623 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$2,469 |
|
|
|
|
|
|
|
3.24 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
9.21 |
% |
|
|
to |
|
|
|
8.23 |
% |
| 2022 |
|
|
1,815 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$1.02 |
|
|
|
$2,537 |
|
|
|
|
|
|
|
3.44 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(14.08 |
%) |
|
|
to |
|
|
|
(14.85 |
%) |
| 2021 |
|
|
2,042 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.19 |
|
|
|
$3,335 |
|
|
|
|
|
|
|
4.04 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
0.59 |
% |
|
|
to |
|
|
|
(0.32 |
%) |
| 2020 |
|
|
2,296 |
|
|
|
$1.36 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$3,752 |
|
|
|
|
|
|
|
5.18 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.11 |
% |
|
|
to |
|
|
|
3.17 |
% |
| Col VP Govt Money Mkt, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
14,609 |
|
|
|
$1.09 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$14,325 |
|
|
|
|
|
|
|
4.63 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.05 |
% |
|
|
to |
|
|
|
2.80 |
% |
| 2023 |
|
|
16,946 |
|
|
|
$1.04 |
|
|
|
to |
|
|
|
$0.89 |
|
|
|
$16,428 |
|
|
|
|
|
|
|
4.40 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.79 |
% |
|
|
to |
|
|
|
2.55 |
% |
| 2022 |
|
|
14,646 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.87 |
|
|
|
$13,763 |
|
|
|
|
|
|
|
1.38 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.66 |
%(7) |
|
|
to |
|
|
|
(0.75 |
%) |
| 2021 |
|
|
7,055 |
|
|
|
$0.94 |
|
|
|
to |
|
|
|
$0.88 |
|
|
|
$6,474 |
|
|
|
|
|
|
|
0.01 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.83 |
%) |
|
|
to |
|
|
|
(1.83 |
%) |
| 2020 |
|
|
7,634 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$7,084 |
|
|
|
|
|
|
|
0.16 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.61 |
%) |
|
|
to |
|
|
|
(1.61 |
%) |
| Col VP Govt Money Mkt, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
7,655 |
|
|
|
$1.19 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$8,631 |
|
|
|
|
|
|
|
4.72 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.29 |
% |
|
|
to |
|
|
|
3.35 |
% |
| 2023 |
|
|
6,989 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$7,555 |
|
|
|
|
|
|
|
4.50 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.02 |
% |
|
|
to |
|
|
|
3.10 |
% |
| 2022 |
|
|
7,686 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$7,984 |
|
|
|
|
|
|
|
1.20 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
0.61 |
% |
|
|
to |
|
|
|
(0.30 |
%) |
| 2021 |
|
|
6,690 |
|
|
|
$1.09 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$6,995 |
|
|
|
|
|
|
|
0.01 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(0.52 |
%) |
|
|
to |
|
|
|
(1.44 |
%) |
| 2020 |
|
|
9,566 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$10,004 |
|
|
|
|
|
|
|
0.22 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(0.27 |
%) |
|
|
to |
|
|
|
(1.18 |
%) |
| Col VP Hi Yield Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,977 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.33 |
|
|
|
$5,574 |
|
|
|
|
|
|
|
5.73 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.18 |
% |
|
|
to |
|
|
|
4.90 |
% |
| 2023 |
|
|
2,524 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$4,479 |
|
|
|
|
|
|
|
5.43 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.15 |
% |
|
|
to |
|
|
|
9.82 |
% |
| 2022 |
|
|
2,194 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$3,547 |
|
|
|
|
|
|
|
4.97 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.98 |
%)(7) |
|
|
to |
|
|
|
(12.40 |
%) |
| 2021 |
|
|
2,132 |
|
|
|
$1.92 |
|
|
|
to |
|
|
|
$1.31 |
|
|
|
$3,964 |
|
|
|
|
|
|
|
4.71 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.90 |
% |
|
|
to |
|
|
|
2.86 |
% |
| 2020 |
|
|
1,699 |
|
|
|
$1.85 |
|
|
|
to |
|
|
|
$1.28 |
|
|
|
$3,034 |
|
|
|
|
|
|
|
5.95 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.41 |
% |
|
|
to |
|
|
|
4.36 |
% |
| Col VP Hi Yield Bond, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,562 |
|
|
|
$2.95 |
|
|
|
to |
|
|
|
$2.32 |
|
|
|
$5,068 |
|
|
|
|
|
|
|
5.69 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
6.36 |
% |
|
|
to |
|
|
|
5.40 |
% |
| 2023 |
|
|
1,735 |
|
|
|
$2.78 |
|
|
|
to |
|
|
|
$2.20 |
|
|
|
$5,298 |
|
|
|
|
|
|
|
5.31 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.47 |
% |
|
|
to |
|
|
|
10.47 |
% |
| 2022 |
|
|
1,918 |
|
|
|
$2.49 |
|
|
|
to |
|
|
|
$1.99 |
|
|
|
$5,298 |
|
|
|
|
|
|
|
5.08 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(11.19 |
%) |
|
|
to |
|
|
|
(11.99 |
%) |
| 2021 |
|
|
2,071 |
|
|
|
$2.80 |
|
|
|
to |
|
|
|
$2.26 |
|
|
|
$6,497 |
|
|
|
|
|
|
|
5.02 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.29 |
% |
|
|
to |
|
|
|
3.35 |
% |
| 2020 |
|
|
2,231 |
|
|
|
$2.69 |
|
|
|
to |
|
|
|
$2.19 |
|
|
|
$6,751 |
|
|
|
|
|
|
|
5.65 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.96 |
% |
|
|
to |
|
|
|
5.01 |
% |
| Col VP Inc Opp, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,110 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$3,912 |
|
|
|
|
|
|
|
5.38 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.02 |
% |
|
|
to |
|
|
|
3.76 |
% |
| 2023 |
|
|
2,124 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$3,757 |
|
|
|
|
|
|
|
4.88 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.64 |
% |
|
|
to |
|
|
|
9.32 |
% |
| 2022 |
|
|
2,388 |
|
|
|
$0.97 |
|
|
|
to |
|
|
|
$1.00 |
|
|
|
$3,827 |
|
|
|
|
|
|
|
5.25 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.41 |
%)(7) |
|
|
to |
|
|
|
(11.87 |
%) |
| 2021 |
|
|
2,232 |
|
|
|
$1.85 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$4,027 |
|
|
|
|
|
|
|
8.73 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.26 |
% |
|
|
to |
|
|
|
2.23 |
% |
| 2020 |
|
|
2,194 |
|
|
|
$1.79 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$3,841 |
|
|
|
|
|
|
|
4.54 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.78 |
% |
|
|
to |
|
|
|
3.74 |
% |
| Col VP Inc Opp, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,694 |
|
|
|
$2.74 |
|
|
|
to |
|
|
|
$2.21 |
|
|
|
$4,228 |
|
|
|
|
|
|
|
5.51 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.31 |
% |
|
|
to |
|
|
|
4.36 |
% |
| 2023 |
|
|
1,788 |
|
|
|
$2.60 |
|
|
|
to |
|
|
|
$2.12 |
|
|
|
$4,263 |
|
|
|
|
|
|
|
5.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
10.90 |
% |
|
|
to |
|
|
|
9.91 |
% |
| 2022 |
|
|
1,954 |
|
|
|
$2.35 |
|
|
|
to |
|
|
|
$1.93 |
|
|
|
$4,216 |
|
|
|
|
|
|
|
5.12 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(10.70 |
%) |
|
|
to |
|
|
|
(11.50 |
%) |
| 2021 |
|
|
2,341 |
|
|
|
$2.63 |
|
|
|
to |
|
|
|
$2.18 |
|
|
|
$5,690 |
|
|
|
|
|
|
|
8.96 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.90 |
% |
|
|
to |
|
|
|
2.97 |
% |
| 2020 |
|
|
2,515 |
|
|
|
$2.53 |
|
|
|
to |
|
|
|
$2.12 |
|
|
|
$5,912 |
|
|
|
|
|
|
|
4.61 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.16 |
% |
|
|
to |
|
|
|
4.21 |
% |
| Col VP Inter Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
5,629 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.96 |
|
|
|
$6,819 |
|
|
|
|
|
|
|
4.69 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
1.07 |
% |
|
|
to |
|
|
|
(0.14 |
%) |
| 2023 |
|
|
5,020 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$6,041 |
|
|
|
|
|
|
|
2.07 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.40 |
% |
|
|
to |
|
|
|
4.14 |
% |
| 2022 |
|
|
4,303 |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$4,934 |
|
|
|
|
|
|
|
3.05 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(6.86 |
%)(7) |
|
|
to |
|
|
|
(18.74 |
%) |
| 2021 |
|
|
3,643 |
|
|
|
$1.44 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$5,103 |
|
|
|
|
|
|
|
3.14 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.43 |
%) |
|
|
to |
|
|
|
(2.41 |
%) |
| 2020 |
|
|
3,336 |
|
|
|
$1.46 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$4,747 |
|
|
|
|
|
|
|
2.51 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.33 |
% |
|
|
to |
|
|
|
10.21 |
% |
| Col VP Inter Bond, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
5,953 |
|
|
|
$1.65 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$10,453 |
|
|
|
|
|
|
|
4.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
1.28 |
% |
|
|
to |
|
|
|
0.37 |
% |
| 2023 |
|
|
6,273 |
|
|
|
$1.63 |
|
|
|
to |
|
|
|
$1.36 |
|
|
|
$10,924 |
|
|
|
|
|
|
|
2.21 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.61 |
% |
|
|
to |
|
|
|
4.67 |
% |
| 2022 |
|
|
6,883 |
|
|
|
$1.54 |
|
|
|
to |
|
|
|
$1.30 |
|
|
|
$11,425 |
|
|
|
|
|
|
|
3.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(17.62 |
%) |
|
|
to |
|
|
|
(18.36 |
%) |
| 2021 |
|
|
7,537 |
|
|
|
$1.87 |
|
|
|
to |
|
|
|
$1.60 |
|
|
|
$15,328 |
|
|
|
|
|
|
|
3.16 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(0.90 |
%) |
|
|
to |
|
|
|
(1.79 |
%) |
| 2020 |
|
|
8,248 |
|
|
|
$1.89 |
|
|
|
to |
|
|
|
$1.63 |
|
|
|
$17,001 |
|
|
|
|
|
|
|
2.76 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.83 |
% |
|
|
to |
|
|
|
10.83 |
% |
|
|
|
|
|
| 130 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Col VP Lg Cap Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,514 |
|
|
|
$1.59 |
|
|
|
to |
|
|
|
$4.40 |
|
|
|
$10,066 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
30.16 |
% |
|
|
to |
|
|
|
28.60 |
% |
| 2023 |
|
|
1,465 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$3.42 |
|
|
|
$7,518 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
41.85 |
% |
|
|
to |
|
|
|
40.16 |
% |
| 2022 |
|
|
1,247 |
|
|
|
$0.86 |
|
|
|
to |
|
|
|
$2.44 |
|
|
|
$4,852 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(15.22 |
%)(7) |
|
|
to |
|
|
|
(32.79 |
%) |
| 2021 |
|
|
882 |
|
|
|
$5.96 |
|
|
|
to |
|
|
|
$3.63 |
|
|
|
$5,119 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
27.27 |
% |
|
|
to |
|
|
|
26.00 |
% |
| 2020 |
|
|
791 |
|
|
|
$4.68 |
|
|
|
to |
|
|
|
$2.88 |
|
|
|
$3,620 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
33.27 |
% |
|
|
to |
|
|
|
31.95 |
% |
| Col VP Lg Cap Gro, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,290 |
|
|
|
$7.27 |
|
|
|
to |
|
|
|
$5.77 |
|
|
|
$4,966 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
30.46 |
% |
|
|
to |
|
|
|
29.29 |
% |
| 2023 |
|
|
1,468 |
|
|
|
$5.57 |
|
|
|
to |
|
|
|
$4.47 |
|
|
|
$4,310 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
42.17 |
% |
|
|
to |
|
|
|
40.90 |
% |
| 2022 |
|
|
1,633 |
|
|
|
$3.92 |
|
|
|
to |
|
|
|
$3.17 |
|
|
|
$3,360 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(31.82 |
%) |
|
|
to |
|
|
|
(32.43 |
%) |
| 2021 |
|
|
1,775 |
|
|
|
$5.75 |
|
|
|
to |
|
|
|
$4.69 |
|
|
|
$5,240 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
27.83 |
% |
|
|
to |
|
|
|
26.69 |
% |
| 2020 |
|
|
2,057 |
|
|
|
$4.50 |
|
|
|
to |
|
|
|
$3.70 |
|
|
|
$4,787 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
33.83 |
% |
|
|
to |
|
|
|
32.63 |
% |
| Col VP Lg Cap Index, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
29,677 |
|
|
|
$1.44 |
|
|
|
to |
|
|
|
$1.38 |
|
|
|
$41,717 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
23.59 |
% |
|
|
to |
|
|
|
22.48 |
% |
| 2023 |
|
|
17,794 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$20,353 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
24.84 |
% |
|
|
to |
|
|
|
23.73 |
% |
| 2022 |
|
|
10,988 |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$10,096 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(7.22 |
%)(7) |
|
|
to |
|
|
|
(19.79 |
%) |
| 2021 |
|
|
3,471 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$3,954 |
|
|
|
|
|
|
|
— |
|
|
|
0.95 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
13.67 |
%(6) |
|
|
to |
|
|
|
13.22 |
%(6) |
| Col VP Lg Cap Index, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
17,267 |
|
|
|
$6.06 |
|
|
|
to |
|
|
|
$3.53 |
|
|
|
$85,255 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
23.85 |
% |
|
|
to |
|
|
|
22.25 |
% |
| 2023 |
|
|
18,551 |
|
|
|
$4.90 |
|
|
|
to |
|
|
|
$2.88 |
|
|
|
$73,880 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
25.13 |
% |
|
|
to |
|
|
|
23.52 |
% |
| 2022 |
|
|
17,222 |
|
|
|
$3.91 |
|
|
|
to |
|
|
|
$2.33 |
|
|
|
$55,435 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(18.89 |
%) |
|
|
to |
|
|
|
(19.94 |
%) |
| 2021 |
|
|
16,719 |
|
|
|
$4.82 |
|
|
|
to |
|
|
|
$2.92 |
|
|
|
$66,822 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
27.51 |
% |
|
|
to |
|
|
|
25.87 |
% |
| 2020 |
|
|
18,223 |
|
|
|
$3.78 |
|
|
|
to |
|
|
|
$2.32 |
|
|
|
$57,310 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
17.26 |
% |
|
|
to |
|
|
|
15.74 |
% |
| Col VP Limited Duration Cr, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
3,276 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$1.00 |
|
|
|
$3,819 |
|
|
|
|
|
|
|
3.42 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.06 |
% |
|
|
to |
|
|
|
2.70 |
% |
| 2023 |
|
|
3,415 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$3,847 |
|
|
|
|
|
|
|
3.11 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.07 |
% |
|
|
to |
|
|
|
4.71 |
% |
| 2022 |
|
|
3,776 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$4,030 |
|
|
|
|
|
|
|
0.54 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(6.87 |
%) |
|
|
to |
|
|
|
(8.07 |
%) |
| 2021 |
|
|
3,318 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$3,808 |
|
|
|
|
|
|
|
1.42 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.38 |
%) |
|
|
to |
|
|
|
(2.67 |
%) |
| 2020 |
|
|
3,033 |
|
|
|
$1.09 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$3,537 |
|
|
|
|
|
|
|
2.58 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.99 |
% |
|
|
to |
|
|
|
3.63 |
% |
| Col VP Long Govt/Cr Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,230 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.87 |
|
|
|
$1,180 |
|
|
|
|
|
|
|
3.95 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.93 |
%) |
|
|
to |
|
|
|
(6.16 |
%) |
| 2023 |
|
|
1,359 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$1,388 |
|
|
|
|
|
|
|
3.07 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.09 |
% |
|
|
to |
|
|
|
4.72 |
% |
| 2022 |
|
|
1,252 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.89 |
|
|
|
$1,212 |
|
|
|
|
|
|
|
2.25 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(28.09 |
%) |
|
|
to |
|
|
|
(29.02 |
%) |
| 2021 |
|
|
963 |
|
|
|
$1.40 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$1,297 |
|
|
|
|
|
|
|
1.80 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(3.99 |
%) |
|
|
to |
|
|
|
(5.24 |
%) |
| 2020 |
|
|
1,060 |
|
|
|
$1.46 |
|
|
|
to |
|
|
|
$1.32 |
|
|
|
$1,496 |
|
|
|
|
|
|
|
2.75 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.43 |
% |
|
|
to |
|
|
|
14.92 |
% |
| Col VP Overseas Core, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
975 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.33 |
|
|
|
$1,759 |
|
|
|
|
|
|
|
3.73 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.56 |
% |
|
|
to |
|
|
|
1.34 |
% |
| 2023 |
|
|
603 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.31 |
|
|
|
$1,092 |
|
|
|
|
|
|
|
1.58 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.58 |
% |
|
|
to |
|
|
|
13.21 |
% |
| 2022 |
|
|
539 |
|
|
|
$0.97 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$855 |
|
|
|
|
|
|
|
0.73 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.28 |
%)(7) |
|
|
to |
|
|
|
(16.46 |
%) |
| 2021 |
|
|
524 |
|
|
|
$1.94 |
|
|
|
to |
|
|
|
$1.38 |
|
|
|
$986 |
|
|
|
|
|
|
|
1.16 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.81 |
% |
|
|
to |
|
|
|
7.74 |
% |
| 2020 |
|
|
326 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.28 |
|
|
|
$566 |
|
|
|
|
|
|
|
1.44 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.90 |
% |
|
|
to |
|
|
|
6.83 |
% |
| Col VP Overseas Core, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,422 |
|
|
|
$2.40 |
|
|
|
to |
|
|
|
$1.60 |
|
|
|
$2,729 |
|
|
|
|
|
|
|
4.30 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
2.77 |
% |
|
|
to |
|
|
|
1.85 |
% |
| 2023 |
|
|
1,571 |
|
|
|
$2.34 |
|
|
|
to |
|
|
|
$1.58 |
|
|
|
$2,950 |
|
|
|
|
|
|
|
1.82 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
14.84 |
% |
|
|
to |
|
|
|
13.81 |
% |
| 2022 |
|
|
1,717 |
|
|
|
$2.04 |
|
|
|
to |
|
|
|
$1.38 |
|
|
|
$2,834 |
|
|
|
|
|
|
|
0.81 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(15.27 |
%) |
|
|
to |
|
|
|
(16.03 |
%) |
| 2021 |
|
|
1,872 |
|
|
|
$2.40 |
|
|
|
to |
|
|
|
$1.65 |
|
|
|
$3,685 |
|
|
|
|
|
|
|
1.18 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
9.28 |
% |
|
|
to |
|
|
|
8.30 |
% |
| 2020 |
|
|
2,054 |
|
|
|
$2.20 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$3,706 |
|
|
|
|
|
|
|
1.56 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.33 |
% |
|
|
to |
|
|
|
7.35 |
% |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Col VP Select Lg Cap Eq, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
553 |
|
|
|
$1.44 |
|
|
|
to |
|
|
|
$1.41 |
|
|
|
$787 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
23.02 |
% |
|
|
to |
|
|
|
21.91 |
% |
| 2023 |
|
|
196 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$228 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
26.94 |
% |
|
|
to |
|
|
|
25.81 |
% |
| 2022 |
|
|
— |
|
|
|
$0.92 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$0 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(8.22 |
%)(7) |
|
|
to |
|
|
|
(8.76 |
%)(7) |
| Col VP Select Lg Cap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,337 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$2.57 |
|
|
|
$4,758 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.85 |
% |
|
|
to |
|
|
|
10.51 |
% |
| 2023 |
|
|
1,239 |
|
|
|
$1.05 |
|
|
|
to |
|
|
|
$2.33 |
|
|
|
$3,905 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.43 |
% |
|
|
to |
|
|
|
3.19 |
% |
| 2022 |
|
|
1,095 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$2.26 |
|
|
|
$3,535 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.22 |
%(7) |
|
|
to |
|
|
|
(3.85 |
%) |
| 2021 |
|
|
536 |
|
|
|
$3.98 |
|
|
|
to |
|
|
|
$2.35 |
|
|
|
$2,062 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.91 |
% |
|
|
to |
|
|
|
23.67 |
% |
| 2020 |
|
|
470 |
|
|
|
$3.18 |
|
|
|
to |
|
|
|
$1.90 |
|
|
|
$1,451 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.90 |
% |
|
|
to |
|
|
|
4.85 |
% |
| Col VP Select Lg Cap Val, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
218 |
|
|
|
$4.51 |
|
|
|
to |
|
|
|
$3.49 |
|
|
|
$863 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.13 |
% |
|
|
to |
|
|
|
11.12 |
% |
| 2023 |
|
|
224 |
|
|
|
$4.03 |
|
|
|
to |
|
|
|
$3.14 |
|
|
|
$793 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.65 |
% |
|
|
to |
|
|
|
3.72 |
% |
| 2022 |
|
|
293 |
|
|
|
$3.85 |
|
|
|
to |
|
|
|
$3.02 |
|
|
|
$998 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(2.49 |
%) |
|
|
to |
|
|
|
(3.36 |
%) |
| 2021 |
|
|
271 |
|
|
|
$3.94 |
|
|
|
to |
|
|
|
$3.13 |
|
|
|
$953 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
25.46 |
% |
|
|
to |
|
|
|
24.33 |
% |
| 2020 |
|
|
273 |
|
|
|
$3.14 |
|
|
|
to |
|
|
|
$2.52 |
|
|
|
$770 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
6.37 |
% |
|
|
to |
|
|
|
5.41 |
% |
| Col VP Select Mid Cap Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
762 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$2.92 |
|
|
|
$3,066 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
22.56 |
% |
|
|
to |
|
|
|
21.09 |
% |
| 2023 |
|
|
731 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$2.41 |
|
|
|
$2,409 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.12 |
% |
|
|
to |
|
|
|
22.64 |
% |
| 2022 |
|
|
596 |
|
|
|
$0.94 |
|
|
|
to |
|
|
|
$1.97 |
|
|
|
$1,582 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(7.66 |
%)(7) |
|
|
to |
|
|
|
(32.28 |
%) |
| 2021 |
|
|
448 |
|
|
|
$4.06 |
|
|
|
to |
|
|
|
$2.90 |
|
|
|
$1,755 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
15.29 |
% |
|
|
to |
|
|
|
14.14 |
% |
| 2020 |
|
|
316 |
|
|
|
$3.52 |
|
|
|
to |
|
|
|
$2.54 |
|
|
|
$1,074 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
33.94 |
% |
|
|
to |
|
|
|
32.61 |
% |
| Col VP Select Mid Cap Gro, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
983 |
|
|
|
$5.04 |
|
|
|
to |
|
|
|
$4.26 |
|
|
|
$4,161 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
22.85 |
% |
|
|
to |
|
|
|
21.74 |
% |
| 2023 |
|
|
974 |
|
|
|
$4.10 |
|
|
|
to |
|
|
|
$3.50 |
|
|
|
$3,329 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
24.40 |
% |
|
|
to |
|
|
|
23.29 |
% |
| 2022 |
|
|
1,107 |
|
|
|
$3.30 |
|
|
|
to |
|
|
|
$2.84 |
|
|
|
$3,056 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(31.30 |
%) |
|
|
to |
|
|
|
(31.91 |
%) |
| 2021 |
|
|
1,182 |
|
|
|
$4.80 |
|
|
|
to |
|
|
|
$4.17 |
|
|
|
$4,791 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
15.77 |
% |
|
|
to |
|
|
|
14.73 |
% |
| 2020 |
|
|
1,254 |
|
|
|
$4.14 |
|
|
|
to |
|
|
|
$3.63 |
|
|
|
$4,394 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
34.49 |
% |
|
|
to |
|
|
|
33.29 |
% |
| Col VP Select Mid Cap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
793 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$2.42 |
|
|
|
$3,087 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.54 |
% |
|
|
to |
|
|
|
10.20 |
% |
| 2023 |
|
|
793 |
|
|
|
$1.08 |
|
|
|
to |
|
|
|
$2.19 |
|
|
|
$2,768 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.34 |
% |
|
|
to |
|
|
|
8.04 |
% |
| 2022 |
|
|
566 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$2.03 |
|
|
|
$1,847 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.12 |
%)(7) |
|
|
to |
|
|
|
(11.32 |
%) |
| 2021 |
|
|
435 |
|
|
|
$3.78 |
|
|
|
to |
|
|
|
$2.29 |
|
|
|
$1,585 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
30.86 |
% |
|
|
to |
|
|
|
29.56 |
% |
| 2020 |
|
|
463 |
|
|
|
$2.89 |
|
|
|
to |
|
|
|
$1.77 |
|
|
|
$1,294 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.34 |
% |
|
|
to |
|
|
|
5.29 |
% |
| Col VP Select Mid Cap Val, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
370 |
|
|
|
$4.30 |
|
|
|
to |
|
|
|
$3.36 |
|
|
|
$1,501 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.79 |
% |
|
|
to |
|
|
|
10.78 |
% |
| 2023 |
|
|
460 |
|
|
|
$3.85 |
|
|
|
to |
|
|
|
$3.03 |
|
|
|
$1,706 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
9.58 |
% |
|
|
to |
|
|
|
8.60 |
% |
| 2022 |
|
|
514 |
|
|
|
$3.51 |
|
|
|
to |
|
|
|
$2.79 |
|
|
|
$1,743 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(10.06 |
%) |
|
|
to |
|
|
|
(10.86 |
%) |
| 2021 |
|
|
568 |
|
|
|
$3.91 |
|
|
|
to |
|
|
|
$3.13 |
|
|
|
$2,159 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
31.41 |
% |
|
|
to |
|
|
|
30.23 |
% |
| 2020 |
|
|
635 |
|
|
|
$2.97 |
|
|
|
to |
|
|
|
$2.40 |
|
|
|
$1,851 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
6.82 |
% |
|
|
to |
|
|
|
5.86 |
% |
| Col VP Select Sm Cap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
493 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$2.18 |
|
|
|
$1,507 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.92 |
% |
|
|
to |
|
|
|
11.57 |
% |
| 2023 |
|
|
511 |
|
|
|
$1.08 |
|
|
|
to |
|
|
|
$1.96 |
|
|
|
$1,392 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.12 |
% |
|
|
to |
|
|
|
10.78 |
% |
| 2022 |
|
|
454 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$1.77 |
|
|
|
$1,104 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.31 |
%)(7) |
|
|
to |
|
|
|
(16.48 |
%) |
| 2021 |
|
|
302 |
|
|
|
$3.51 |
|
|
|
to |
|
|
|
$2.11 |
|
|
|
$1,024 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
29.51 |
% |
|
|
to |
|
|
|
28.22 |
% |
| 2020 |
|
|
255 |
|
|
|
$2.71 |
|
|
|
to |
|
|
|
$1.65 |
|
|
|
$670 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.00 |
% |
|
|
to |
|
|
|
6.92 |
% |
| Col VP Select Sm Cap Val, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
349 |
|
|
|
$3.82 |
|
|
|
to |
|
|
|
$3.07 |
|
|
|
$1,459 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
13.18 |
% |
|
|
to |
|
|
|
12.16 |
% |
| 2023 |
|
|
379 |
|
|
|
$3.38 |
|
|
|
to |
|
|
|
$2.74 |
|
|
|
$1,419 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.36 |
% |
|
|
to |
|
|
|
11.35 |
% |
| 2022 |
|
|
423 |
|
|
|
$3.00 |
|
|
|
to |
|
|
|
$2.46 |
|
|
|
$1,415 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(15.29 |
%) |
|
|
to |
|
|
|
(16.04 |
%) |
| 2021 |
|
|
394 |
|
|
|
$3.55 |
|
|
|
to |
|
|
|
$2.93 |
|
|
|
$1,586 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
30.08 |
% |
|
|
to |
|
|
|
28.92 |
% |
| 2020 |
|
|
413 |
|
|
|
$2.73 |
|
|
|
to |
|
|
|
$2.27 |
|
|
|
$1,304 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.46 |
% |
|
|
to |
|
|
|
7.48 |
% |
|
|
|
|
|
| 132 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Col VP Sel Gbl Tech, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
834 |
|
|
|
$1.55 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$1,284 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
25.76 |
% |
|
|
to |
|
|
|
24.62 |
% |
| 2023 |
|
|
436 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.22 |
|
|
|
$537 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
43.94 |
% |
|
|
to |
|
|
|
42.65 |
% |
| 2022 |
|
|
97 |
|
|
|
$0.86 |
|
|
|
to |
|
|
|
$0.85 |
|
|
|
$84 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(15.93 |
%)(7) |
|
|
to |
|
|
|
(16.44 |
%)(7) |
| Col VP Sm Cap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
149 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$191 |
|
|
|
|
|
|
|
0.56 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
7.97 |
% |
|
|
to |
|
|
|
6.99 |
% |
| 2023 |
|
|
24 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$30 |
|
|
|
|
|
|
|
0.43 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
20.87 |
% |
|
|
to |
|
|
|
19.80 |
% |
| 2022 |
|
|
13 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.98 |
|
|
|
$14 |
|
|
|
|
|
|
|
0.22 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(1.99 |
%)(7) |
|
|
to |
|
|
|
(2.56 |
%)(7) |
| Col VP Strategic Inc, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
4,208 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$5,404 |
|
|
|
|
|
|
|
4.59 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.82 |
% |
|
|
to |
|
|
|
2.58 |
% |
| 2023 |
|
|
3,224 |
|
|
|
$1.03 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$4,012 |
|
|
|
|
|
|
|
3.45 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.49 |
% |
|
|
to |
|
|
|
7.21 |
% |
| 2022 |
|
|
2,554 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$2,951 |
|
|
|
|
|
|
|
2.70 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.13 |
%)(7) |
|
|
to |
|
|
|
(13.14 |
%) |
| 2021 |
|
|
2,835 |
|
|
|
$1.36 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$3,732 |
|
|
|
|
|
|
|
5.23 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.77 |
% |
|
|
to |
|
|
|
(0.24 |
%) |
| 2020 |
|
|
2,515 |
|
|
|
$1.35 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$3,290 |
|
|
|
|
|
|
|
3.41 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.72 |
% |
|
|
to |
|
|
|
4.67 |
% |
| Col VP US Govt Mtge, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,700 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$2,742 |
|
|
|
|
|
|
|
3.89 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.67 |
% |
|
|
to |
|
|
|
(0.54 |
%) |
| 2023 |
|
|
1,365 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$1,370 |
|
|
|
|
|
|
|
2.65 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.75 |
% |
|
|
to |
|
|
|
3.49 |
% |
| 2022 |
|
|
1,570 |
|
|
|
$0.94 |
|
|
|
to |
|
|
|
$0.89 |
|
|
|
$1,507 |
|
|
|
|
|
|
|
1.97 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.83 |
%)(7) |
|
|
to |
|
|
|
(15.89 |
%) |
| 2021 |
|
|
1,225 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.05 |
|
|
|
$1,383 |
|
|
|
|
|
|
|
1.72 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.04 |
%) |
|
|
to |
|
|
|
(3.01 |
%) |
| 2020 |
|
|
820 |
|
|
|
$1.19 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$947 |
|
|
|
|
|
|
|
2.37 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.96 |
% |
|
|
to |
|
|
|
2.92 |
% |
| Col VP US Govt Mtge, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,429 |
|
|
|
$1.25 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$1,824 |
|
|
|
|
|
|
|
3.17 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
0.88 |
% |
|
|
to |
|
|
|
(0.02 |
%) |
| 2023 |
|
|
1,701 |
|
|
|
$1.24 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$2,161 |
|
|
|
|
|
|
|
2.66 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.97 |
% |
|
|
to |
|
|
|
4.04 |
% |
| 2022 |
|
|
1,783 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$2,168 |
|
|
|
|
|
|
|
1.98 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(14.73 |
%) |
|
|
to |
|
|
|
(15.50 |
%) |
| 2021 |
|
|
2,335 |
|
|
|
$1.39 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$3,302 |
|
|
|
|
|
|
|
1.94 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(1.61 |
%) |
|
|
to |
|
|
|
(2.49 |
%) |
| 2020 |
|
|
2,429 |
|
|
|
$1.41 |
|
|
|
to |
|
|
|
$1.21 |
|
|
|
$3,510 |
|
|
|
|
|
|
|
2.53 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.38 |
% |
|
|
to |
|
|
|
3.44 |
% |
| CS Commodity Return, Cl 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
632 |
|
|
|
$0.68 |
|
|
|
to |
|
|
|
$0.59 |
|
|
|
$407 |
|
|
|
|
|
|
|
3.07 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.25 |
% |
|
|
to |
|
|
|
3.31 |
% |
| 2023 |
|
|
709 |
|
|
|
$0.65 |
|
|
|
to |
|
|
|
$0.57 |
|
|
|
$440 |
|
|
|
|
|
|
|
21.49 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(9.61 |
%) |
|
|
to |
|
|
|
(10.42 |
%) |
| 2022 |
|
|
825 |
|
|
|
$0.72 |
|
|
|
to |
|
|
|
$0.64 |
|
|
|
$568 |
|
|
|
|
|
|
|
17.10 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
15.39 |
% |
|
|
to |
|
|
|
14.36 |
% |
| 2021 |
|
|
1,134 |
|
|
|
$0.63 |
|
|
|
to |
|
|
|
$0.56 |
|
|
|
$679 |
|
|
|
|
|
|
|
4.78 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
27.20 |
% |
|
|
to |
|
|
|
26.06 |
% |
| 2020 |
|
|
1,174 |
|
|
|
$0.49 |
|
|
|
to |
|
|
|
$0.44 |
|
|
|
$554 |
|
|
|
|
|
|
|
5.75 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(2.02 |
%) |
|
|
to |
|
|
|
(2.90 |
%) |
| CTIVP AC Div Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,457 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$1,654 |
|
|
|
|
|
|
|
4.00 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.87 |
% |
|
|
to |
|
|
|
(0.34 |
%) |
| 2023 |
|
|
1,400 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$1,581 |
|
|
|
|
|
|
|
3.15 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.65 |
% |
|
|
to |
|
|
|
3.39 |
% |
| 2022 |
|
|
1,315 |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$1,424 |
|
|
|
|
|
|
|
3.07 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(6.27 |
%)(7) |
|
|
to |
|
|
|
(17.06 |
%) |
| 2021 |
|
|
881 |
|
|
|
$1.34 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$1,141 |
|
|
|
|
|
|
|
2.07 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.56 |
%) |
|
|
to |
|
|
|
(1.54 |
%) |
| 2020 |
|
|
781 |
|
|
|
$1.34 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$1,015 |
|
|
|
|
|
|
|
1.58 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.32 |
% |
|
|
to |
|
|
|
6.26 |
% |
| CTIVP BR Gl Infl Prot Sec, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,078 |
|
|
|
$0.89 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$1,259 |
|
|
|
|
|
|
|
1.78 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.85 |
%) |
|
|
to |
|
|
|
(3.02 |
%) |
| 2023 |
|
|
1,196 |
|
|
|
$0.90 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$1,431 |
|
|
|
|
|
|
|
8.54 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.22 |
% |
|
|
to |
|
|
|
2.00 |
% |
| 2022 |
|
|
1,379 |
|
|
|
$0.87 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$1,603 |
|
|
|
|
|
|
|
4.58 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(11.71 |
%)(7) |
|
|
to |
|
|
|
(19.20 |
%) |
| 2021 |
|
|
1,487 |
|
|
|
$1.46 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$2,131 |
|
|
|
|
|
|
|
0.57 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.55 |
% |
|
|
to |
|
|
|
2.51 |
% |
| 2020 |
|
|
1,166 |
|
|
|
$1.41 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$1,617 |
|
|
|
|
|
|
|
0.45 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.05 |
% |
|
|
to |
|
|
|
6.97 |
% |
| CTIVP BR Gl Infl Prot Sec, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,589 |
|
|
|
$1.54 |
|
|
|
to |
|
|
|
$1.27 |
|
|
|
$2,260 |
|
|
|
|
|
|
|
1.89 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(1.60 |
%) |
|
|
to |
|
|
|
(2.49 |
%) |
| 2023 |
|
|
1,665 |
|
|
|
$1.57 |
|
|
|
to |
|
|
|
$1.30 |
|
|
|
$2,413 |
|
|
|
|
|
|
|
8.88 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.39 |
% |
|
|
to |
|
|
|
2.46 |
% |
| 2022 |
|
|
1,876 |
|
|
|
$1.52 |
|
|
|
to |
|
|
|
$1.27 |
|
|
|
$2,643 |
|
|
|
|
|
|
|
4.35 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(18.03 |
%) |
|
|
to |
|
|
|
(18.77 |
%) |
| 2021 |
|
|
2,286 |
|
|
|
$1.85 |
|
|
|
to |
|
|
|
$1.56 |
|
|
|
$3,947 |
|
|
|
|
|
|
|
0.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.90 |
% |
|
|
to |
|
|
|
2.97 |
% |
| 2020 |
|
|
2,491 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$4,160 |
|
|
|
|
|
|
|
0.56 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.52 |
% |
|
|
to |
|
|
|
7.54 |
% |
| CTIVP CenterSquare Real Est, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
482 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$1,133 |
|
|
|
|
|
|
|
2.36 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.15 |
% |
|
|
to |
|
|
|
7.84 |
% |
| 2023 |
|
|
525 |
|
|
|
$0.92 |
|
|
|
to |
|
|
|
$1.30 |
|
|
|
$1,132 |
|
|
|
|
|
|
|
1.84 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.82 |
% |
|
|
to |
|
|
|
11.49 |
% |
| 2022 |
|
|
500 |
|
|
|
$0.81 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$959 |
|
|
|
|
|
|
|
1.33 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.56 |
%)(7) |
|
|
to |
|
|
|
(25.71 |
%) |
| 2021 |
|
|
473 |
|
|
|
$2.62 |
|
|
|
to |
|
|
|
$1.57 |
|
|
|
$1,211 |
|
|
|
|
|
|
|
1.13 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
40.01 |
% |
|
|
to |
|
|
|
38.62 |
% |
| 2020 |
|
|
457 |
|
|
|
$1.87 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$837 |
|
|
|
|
|
|
|
4.22 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.99 |
%) |
|
|
to |
|
|
|
(6.93 |
%) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
133 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| CTIVP MFS Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,766 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$2.35 |
|
|
|
$6,622 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.71 |
% |
|
|
to |
|
|
|
9.38 |
% |
| 2023 |
|
|
1,408 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$2.15 |
|
|
|
$4,912 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.08 |
% |
|
|
to |
|
|
|
5.80 |
% |
| 2022 |
|
|
1,395 |
|
|
|
$1.02 |
|
|
|
to |
|
|
|
$2.03 |
|
|
|
$4,539 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.42 |
%(7) |
|
|
to |
|
|
|
(8.07 |
%) |
| 2021 |
|
|
1,250 |
|
|
|
$3.61 |
|
|
|
to |
|
|
|
$2.21 |
|
|
|
$4,386 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.05 |
% |
|
|
to |
|
|
|
22.82 |
% |
| 2020 |
|
|
1,210 |
|
|
|
$2.91 |
|
|
|
to |
|
|
|
$1.80 |
|
|
|
$3,423 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.46 |
% |
|
|
to |
|
|
|
1.44 |
% |
| CTIVP Prin Blue Chip Gro, Cl 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,690 |
|
|
|
$3.31 |
|
|
|
to |
|
|
|
$3.06 |
|
|
|
$5,412 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
20.75 |
% |
|
|
to |
|
|
|
19.66 |
% |
| 2023 |
|
|
1,973 |
|
|
|
$2.74 |
|
|
|
to |
|
|
|
$2.56 |
|
|
|
$5,253 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
38.77 |
% |
|
|
to |
|
|
|
37.54 |
% |
| 2022 |
|
|
2,407 |
|
|
|
$1.98 |
|
|
|
to |
|
|
|
$1.86 |
|
|
|
$4,639 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(28.40 |
%) |
|
|
to |
|
|
|
(29.04 |
%) |
| 2021 |
|
|
2,585 |
|
|
|
$2.76 |
|
|
|
to |
|
|
|
$2.62 |
|
|
|
$6,985 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
17.92 |
% |
|
|
to |
|
|
|
16.87 |
% |
| 2020 |
|
|
2,909 |
|
|
|
$2.34 |
|
|
|
to |
|
|
|
$2.24 |
|
|
|
$6,691 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
31.21 |
% |
|
|
to |
|
|
|
30.04 |
% |
| CTIVP Prin Blue Chip Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
617 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$3.99 |
|
|
|
$3,257 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
20.33 |
% |
|
|
to |
|
|
|
18.89 |
% |
| 2023 |
|
|
593 |
|
|
|
$1.25 |
|
|
|
to |
|
|
|
$3.36 |
|
|
|
$2,612 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
38.31 |
% |
|
|
to |
|
|
|
36.66 |
% |
| 2022 |
|
|
435 |
|
|
|
$0.91 |
|
|
|
to |
|
|
|
$2.46 |
|
|
|
$1,633 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(10.61 |
%)(7) |
|
|
to |
|
|
|
(29.50 |
%) |
| 2021 |
|
|
592 |
|
|
|
$5.56 |
|
|
|
to |
|
|
|
$3.48 |
|
|
|
$3,181 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
17.28 |
% |
|
|
to |
|
|
|
16.11 |
% |
| 2020 |
|
|
457 |
|
|
|
$4.74 |
|
|
|
to |
|
|
|
$3.00 |
|
|
|
$2,104 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
30.49 |
% |
|
|
to |
|
|
|
29.20 |
% |
| CTIVP T Rowe Price LgCap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,242 |
|
|
|
$1.19 |
|
|
|
to |
|
|
|
$2.09 |
|
|
|
$4,230 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.95 |
% |
|
|
to |
|
|
|
9.62 |
% |
| 2023 |
|
|
1,352 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.91 |
|
|
|
$4,163 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.58 |
% |
|
|
to |
|
|
|
7.28 |
% |
| 2022 |
|
|
1,323 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$1.78 |
|
|
|
$3,769 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.19 |
%)(7) |
|
|
to |
|
|
|
(6.90 |
%) |
| 2021 |
|
|
1,128 |
|
|
|
$3.12 |
|
|
|
to |
|
|
|
$1.91 |
|
|
|
$3,412 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
23.92 |
% |
|
|
to |
|
|
|
22.69 |
% |
| 2020 |
|
|
1,081 |
|
|
|
$2.51 |
|
|
|
to |
|
|
|
$1.56 |
|
|
|
$2,645 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
1.56 |
% |
|
|
to |
|
|
|
0.55 |
% |
| CTIVP TCW Core Plus Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,839 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$1,954 |
|
|
|
|
|
|
|
4.05 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.15 |
%) |
|
|
to |
|
|
|
(1.35 |
%) |
| 2023 |
|
|
2,117 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$2,225 |
|
|
|
|
|
|
|
2.27 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.86 |
% |
|
|
to |
|
|
|
3.62 |
% |
| 2022 |
|
|
1,894 |
|
|
|
$0.94 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$1,900 |
|
|
|
|
|
|
|
0.86 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.99 |
%)(7) |
|
|
to |
|
|
|
(15.88 |
%) |
| 2021 |
|
|
849 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.07 |
|
|
|
$1,023 |
|
|
|
|
|
|
|
1.13 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.24 |
%) |
|
|
to |
|
|
|
(3.21 |
%) |
| 2020 |
|
|
966 |
|
|
|
$1.26 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$1,187 |
|
|
|
|
|
|
|
2.28 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.75 |
% |
|
|
to |
|
|
|
6.68 |
% |
| CTIVP Vty Sycamore Estb Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,431 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$2.85 |
|
|
|
$6,452 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.91 |
% |
|
|
to |
|
|
|
7.61 |
% |
| 2023 |
|
|
1,475 |
|
|
|
$1.08 |
|
|
|
to |
|
|
|
$2.65 |
|
|
|
$6,129 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.97 |
% |
|
|
to |
|
|
|
7.67 |
% |
| 2022 |
|
|
1,319 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$2.46 |
|
|
|
$5,140 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.16 |
%)(7) |
|
|
to |
|
|
|
(4.78 |
%) |
| 2021 |
|
|
1,153 |
|
|
|
$4.22 |
|
|
|
to |
|
|
|
$2.59 |
|
|
|
$4,730 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
30.44 |
% |
|
|
to |
|
|
|
29.14 |
% |
| 2020 |
|
|
1,093 |
|
|
|
$3.23 |
|
|
|
to |
|
|
|
$2.00 |
|
|
|
$3,450 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.89 |
% |
|
|
to |
|
|
|
5.83 |
% |
| CTIVP Vty Sycamore Estb Val, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
201 |
|
|
|
$5.43 |
|
|
|
to |
|
|
|
$4.30 |
|
|
|
$973 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
9.16 |
% |
|
|
to |
|
|
|
8.18 |
% |
| 2023 |
|
|
235 |
|
|
|
$4.97 |
|
|
|
to |
|
|
|
$3.98 |
|
|
|
$1,055 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
9.21 |
% |
|
|
to |
|
|
|
8.23 |
% |
| 2022 |
|
|
250 |
|
|
|
$4.55 |
|
|
|
to |
|
|
|
$3.68 |
|
|
|
$1,036 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(3.42 |
%) |
|
|
to |
|
|
|
(4.28 |
%) |
| 2021 |
|
|
299 |
|
|
|
$4.71 |
|
|
|
to |
|
|
|
$3.84 |
|
|
|
$1,289 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
31.02 |
% |
|
|
to |
|
|
|
29.85 |
% |
| 2020 |
|
|
284 |
|
|
|
$3.60 |
|
|
|
to |
|
|
|
$2.96 |
|
|
|
$940 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
7.31 |
% |
|
|
to |
|
|
|
6.35 |
% |
| CTIVP Westfield Mid Cap Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
296 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$2.80 |
|
|
|
$1,361 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.43 |
% |
|
|
to |
|
|
|
15.03 |
% |
| 2023 |
|
|
323 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$2.43 |
|
|
|
$1,272 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.37 |
% |
|
|
to |
|
|
|
22.89 |
% |
| 2022 |
|
|
323 |
|
|
|
$0.89 |
|
|
|
to |
|
|
|
$1.98 |
|
|
|
$1,028 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(11.33 |
%)(7) |
|
|
to |
|
|
|
(27.15 |
%) |
| 2021 |
|
|
328 |
|
|
|
$4.45 |
|
|
|
to |
|
|
|
$2.72 |
|
|
|
$1,421 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
15.43 |
% |
|
|
to |
|
|
|
14.28 |
% |
| 2020 |
|
|
351 |
|
|
|
$3.85 |
|
|
|
to |
|
|
|
$2.38 |
|
|
|
$1,320 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
26.11 |
% |
|
|
to |
|
|
|
24.85 |
% |
| CTIVP Westfield Sel Lg Cp Gr, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
269 |
|
|
|
$1.41 |
|
|
|
to |
|
|
|
$3.17 |
|
|
|
$1,361 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
26.32 |
% |
|
|
to |
|
|
|
24.81 |
% |
| 2023 |
|
|
315 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$2.54 |
|
|
|
$1,263 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
29.77 |
% |
|
|
to |
|
|
|
28.23 |
% |
| 2022 |
|
|
335 |
|
|
|
$0.86 |
|
|
|
to |
|
|
|
$1.98 |
|
|
|
$1,037 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(15.25 |
%)(7) |
|
|
to |
|
|
|
(42.29 |
%) |
| 2021 |
|
|
343 |
|
|
|
$5.46 |
|
|
|
to |
|
|
|
$3.43 |
|
|
|
$1,823 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.16 |
%) |
|
|
to |
|
|
|
(6.10 |
%) |
| 2020 |
|
|
226 |
|
|
|
$5.76 |
|
|
|
to |
|
|
|
$3.66 |
|
|
|
$1,270 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
74.01 |
% |
|
|
to |
|
|
|
72.28 |
% |
|
|
|
|
|
| 134 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| CVT EAFE Intl Index, Cl F |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
518 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$602 |
|
|
|
|
|
|
|
3.32 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
2.28 |
% |
|
|
to |
|
|
|
1.35 |
% |
| 2023 |
|
|
307 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$352 |
|
|
|
|
|
|
|
3.51 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
16.77 |
% |
|
|
to |
|
|
|
15.73 |
% |
| 2022 |
|
|
212 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$211 |
|
|
|
|
|
|
|
6.47 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(2.06 |
%)(7) |
|
|
to |
|
|
|
(2.64 |
%)(7) |
| CVT Nasdaq 100 Index, Cl F |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
4,148 |
|
|
|
$1.61 |
|
|
|
to |
|
|
|
$1.57 |
|
|
|
$6,617 |
|
|
|
|
|
|
|
0.52 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
24.07 |
% |
|
|
to |
|
|
|
22.95 |
% |
| 2023 |
|
|
1,632 |
|
|
|
$1.30 |
|
|
|
to |
|
|
|
$1.28 |
|
|
|
$2,114 |
|
|
|
|
|
|
|
0.42 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
53.02 |
% |
|
|
to |
|
|
|
51.66 |
% |
| 2022 |
|
|
624 |
|
|
|
$0.85 |
|
|
|
to |
|
|
|
$0.84 |
|
|
|
$533 |
|
|
|
|
|
|
|
0.37 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(16.49 |
%)(7) |
|
|
to |
|
|
|
(16.98 |
%)(7) |
| CVT Russ 2000 Sm Cap Ind, Cl F |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
717 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$862 |
|
|
|
|
|
|
|
1.47 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
10.28 |
% |
|
|
to |
|
|
|
9.29 |
% |
| 2023 |
|
|
462 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$507 |
|
|
|
|
|
|
|
1.06 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
15.61 |
% |
|
|
to |
|
|
|
14.57 |
% |
| 2022 |
|
|
263 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$252 |
|
|
|
|
|
|
|
1.64 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(6.07 |
%)(7) |
|
|
to |
|
|
|
(6.63 |
%)(7) |
| DWS Alt Asset Alloc VIP, Cl B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
944 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.06 |
|
|
|
$1,131 |
|
|
|
|
|
|
|
3.14 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.72 |
% |
|
|
to |
|
|
|
3.37 |
% |
| 2023 |
|
|
724 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$838 |
|
|
|
|
|
|
|
6.43 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.09 |
% |
|
|
to |
|
|
|
3.74 |
% |
| 2022 |
|
|
760 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$841 |
|
|
|
|
|
|
|
6.90 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(8.25 |
%) |
|
|
to |
|
|
|
(9.43 |
%) |
| 2021 |
|
|
764 |
|
|
|
$1.28 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$927 |
|
|
|
|
|
|
|
1.69 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.73 |
% |
|
|
to |
|
|
|
10.29 |
% |
| 2020 |
|
|
651 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$711 |
|
|
|
|
|
|
|
2.33 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.75 |
% |
|
|
to |
|
|
|
3.39 |
% |
| EV VT Floating-Rate Inc, Init Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
3,322 |
|
|
|
$1.84 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$5,593 |
|
|
|
|
|
|
|
7.77 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
7.04 |
% |
|
|
to |
|
|
|
5.97 |
% |
| 2023 |
|
|
3,253 |
|
|
|
$1.72 |
|
|
|
to |
|
|
|
$1.06 |
|
|
|
$5,119 |
|
|
|
|
|
|
|
8.21 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
10.60 |
% |
|
|
to |
|
|
|
9.51 |
% |
| 2022 |
|
|
2,941 |
|
|
|
$1.55 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$4,258 |
|
|
|
|
|
|
|
4.71 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(3.27 |
%) |
|
|
to |
|
|
|
(2.68 |
%)(7) |
| 2021 |
|
|
2,539 |
|
|
|
$1.61 |
|
|
|
to |
|
|
|
$1.39 |
|
|
|
$3,827 |
|
|
|
|
|
|
|
2.90 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.04 |
% |
|
|
to |
|
|
|
2.13 |
% |
| 2020 |
|
|
2,829 |
|
|
|
$1.56 |
|
|
|
to |
|
|
|
$1.36 |
|
|
|
$4,160 |
|
|
|
|
|
|
|
3.33 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
1.44 |
% |
|
|
to |
|
|
|
0.53 |
% |
| Fid VIP Contrafund, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
9,680 |
|
|
|
$5.76 |
|
|
|
to |
|
|
|
$3.75 |
|
|
|
$52,055 |
|
|
|
|
|
|
|
0.03 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
32.71 |
% |
|
|
to |
|
|
|
30.99 |
% |
| 2023 |
|
|
10,252 |
|
|
|
$4.34 |
|
|
|
to |
|
|
|
$2.86 |
|
|
|
$42,054 |
|
|
|
|
|
|
|
0.26 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
32.39 |
% |
|
|
to |
|
|
|
30.68 |
% |
| 2022 |
|
|
10,551 |
|
|
|
$3.28 |
|
|
|
to |
|
|
|
$2.19 |
|
|
|
$33,166 |
|
|
|
|
|
|
|
0.27 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(26.89 |
%) |
|
|
to |
|
|
|
(27.83 |
%) |
| 2021 |
|
|
10,591 |
|
|
|
$4.48 |
|
|
|
to |
|
|
|
$3.04 |
|
|
|
$45,830 |
|
|
|
|
|
|
|
0.03 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
26.81 |
% |
|
|
to |
|
|
|
25.17 |
% |
| 2020 |
|
|
10,296 |
|
|
|
$3.53 |
|
|
|
to |
|
|
|
$2.43 |
|
|
|
$35,394 |
|
|
|
|
|
|
|
0.08 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
29.52 |
% |
|
|
to |
|
|
|
27.84 |
% |
| Fid VIP Emer Mkts, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
79 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$90 |
|
|
|
|
|
|
|
1.43 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
9.00 |
% |
|
|
to |
|
|
|
8.01 |
% |
| 2023 |
|
|
44 |
|
|
|
$1.04 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$46 |
|
|
|
|
|
|
|
2.43 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
8.77 |
% |
|
|
to |
|
|
|
7.81 |
% |
| 2022 |
|
|
22 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$22 |
|
|
|
|
|
|
|
9.31 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(4.74 |
%)(7) |
|
|
to |
|
|
|
(5.30 |
%)(7) |
| Fid VIP Energy, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
412 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$494 |
|
|
|
|
|
|
|
2.11 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
3.35 |
% |
|
|
to |
|
|
|
2.41 |
% |
| 2023 |
|
|
366 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$426 |
|
|
|
|
|
|
|
3.39 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
0.05 |
% |
|
|
to |
|
|
|
(0.84 |
%) |
| 2022 |
|
|
98 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$115 |
|
|
|
|
|
|
|
5.60 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
15.45 |
%(7) |
|
|
to |
|
|
|
14.76 |
%(7) |
| Fid VIP Gro & Inc, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
198 |
|
|
|
$4.70 |
|
|
|
to |
|
|
|
$4.47 |
|
|
|
$903 |
|
|
|
|
|
|
|
1.38 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
21.22 |
% |
|
|
to |
|
|
|
20.97 |
% |
| 2023 |
|
|
219 |
|
|
|
$3.87 |
|
|
|
to |
|
|
|
$3.70 |
|
|
|
$827 |
|
|
|
|
|
|
|
1.49 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
17.69 |
% |
|
|
to |
|
|
|
17.46 |
% |
| 2022 |
|
|
242 |
|
|
|
$3.29 |
|
|
|
to |
|
|
|
$3.15 |
|
|
|
$779 |
|
|
|
|
|
|
|
1.35 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(5.73 |
%) |
|
|
to |
|
|
|
(5.92 |
%) |
| 2021 |
|
|
366 |
|
|
|
$3.49 |
|
|
|
to |
|
|
|
$3.35 |
|
|
|
$1,251 |
|
|
|
|
|
|
|
2.30 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
24.82 |
% |
|
|
to |
|
|
|
24.58 |
% |
| 2020 |
|
|
409 |
|
|
|
$2.80 |
|
|
|
to |
|
|
|
$2.69 |
|
|
|
$1,118 |
|
|
|
|
|
|
|
2.04 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
6.93 |
% |
|
|
to |
|
|
|
6.72 |
% |
| Fid VIP Gro & Inc, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,226 |
|
|
|
$5.23 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$8,737 |
|
|
|
|
|
|
|
1.26 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
21.29 |
% |
|
|
to |
|
|
|
20.07 |
% |
| 2023 |
|
|
2,173 |
|
|
|
$4.31 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$7,646 |
|
|
|
|
|
|
|
1.55 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
17.72 |
% |
|
|
to |
|
|
|
16.55 |
% |
| 2022 |
|
|
1,797 |
|
|
|
$3.66 |
|
|
|
to |
|
|
|
$1.00 |
|
|
|
$6,432 |
|
|
|
|
|
|
|
1.48 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(5.69 |
%) |
|
|
to |
|
|
|
(0.41 |
%)(7) |
| 2021 |
|
|
1,787 |
|
|
|
$3.88 |
|
|
|
to |
|
|
|
$4.23 |
|
|
|
$7,249 |
|
|
|
|
|
|
|
2.14 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
24.95 |
% |
|
|
to |
|
|
|
24.14 |
% |
| 2020 |
|
|
2,106 |
|
|
|
$3.11 |
|
|
|
to |
|
|
|
$3.41 |
|
|
|
$6,739 |
|
|
|
|
|
|
|
1.90 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
7.00 |
% |
|
|
to |
|
|
|
6.31 |
% |
| Fid VIP Gro Opp, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
740 |
|
|
|
$1.67 |
|
|
|
to |
|
|
|
$1.63 |
|
|
|
$1,229 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
37.66 |
% |
|
|
to |
|
|
|
36.42 |
% |
| 2023 |
|
|
551 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$668 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
44.36 |
% |
|
|
to |
|
|
|
43.08 |
% |
| 2022 |
|
|
34 |
|
|
|
$0.84 |
|
|
|
to |
|
|
|
$0.84 |
|
|
|
$31 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(17.23 |
%)(7) |
|
|
to |
|
|
|
(17.72 |
%)(7) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Fid VIP Intl Cap Appr, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
275 |
|
|
|
$1.25 |
|
|
|
to |
|
|
|
$1.22 |
|
|
|
$342 |
|
|
|
|
|
|
|
0.71 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
7.22 |
% |
|
|
to |
|
|
|
6.25 |
% |
| 2023 |
|
|
162 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$190 |
|
|
|
|
|
|
|
0.27 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
26.37 |
% |
|
|
to |
|
|
|
25.22 |
% |
| 2022 |
|
|
41 |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$39 |
|
|
|
|
|
|
|
0.31 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(6.69 |
%)(7) |
|
|
to |
|
|
|
(7.24 |
%)(7) |
| Fid VIP Invest Gr, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,016 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$2,019 |
|
|
|
|
|
|
|
3.60 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
0.84 |
% |
|
|
to |
|
|
|
(0.08 |
%) |
| 2023 |
|
|
1,339 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$1,335 |
|
|
|
|
|
|
|
5.07 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.32 |
% |
|
|
to |
|
|
|
4.38 |
% |
| 2022 |
|
|
127 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$122 |
|
|
|
|
|
|
|
14.53 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(4.15 |
%)(7) |
|
|
to |
|
|
|
(4.73 |
%)(7) |
| Fid VIP Mid Cap, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
247 |
|
|
|
$7.44 |
|
|
|
to |
|
|
|
$7.09 |
|
|
|
$1,783 |
|
|
|
|
|
|
|
0.46 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
16.47 |
% |
|
|
to |
|
|
|
16.24 |
% |
| 2023 |
|
|
262 |
|
|
|
$6.39 |
|
|
|
to |
|
|
|
$6.10 |
|
|
|
$1,625 |
|
|
|
|
|
|
|
0.52 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
14.15 |
% |
|
|
to |
|
|
|
13.92 |
% |
| 2022 |
|
|
268 |
|
|
|
$5.59 |
|
|
|
to |
|
|
|
$5.35 |
|
|
|
$1,465 |
|
|
|
|
|
|
|
0.38 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(15.49 |
%) |
|
|
to |
|
|
|
(15.66 |
%) |
| 2021 |
|
|
343 |
|
|
|
$6.62 |
|
|
|
to |
|
|
|
$6.35 |
|
|
|
$2,210 |
|
|
|
|
|
|
|
0.51 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
24.57 |
% |
|
|
to |
|
|
|
24.32 |
% |
| 2020 |
|
|
367 |
|
|
|
$5.31 |
|
|
|
to |
|
|
|
$5.10 |
|
|
|
$1,904 |
|
|
|
|
|
|
|
0.56 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
17.16 |
% |
|
|
to |
|
|
|
16.92 |
% |
| Fid VIP Mid Cap, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
4,787 |
|
|
|
$5.44 |
|
|
|
to |
|
|
|
$2.48 |
|
|
|
$26,660 |
|
|
|
|
|
|
|
0.34 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.53 |
% |
|
|
to |
|
|
|
15.02 |
% |
| 2023 |
|
|
4,901 |
|
|
|
$4.66 |
|
|
|
to |
|
|
|
$2.16 |
|
|
|
$24,436 |
|
|
|
|
|
|
|
0.39 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.17 |
% |
|
|
to |
|
|
|
12.70 |
% |
| 2022 |
|
|
4,950 |
|
|
|
$4.09 |
|
|
|
to |
|
|
|
$1.91 |
|
|
|
$21,981 |
|
|
|
|
|
|
|
0.27 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(15.43 |
%) |
|
|
to |
|
|
|
(16.52 |
%) |
| 2021 |
|
|
5,326 |
|
|
|
$4.83 |
|
|
|
to |
|
|
|
$2.29 |
|
|
|
$27,803 |
|
|
|
|
|
|
|
0.36 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.62 |
% |
|
|
to |
|
|
|
23.01 |
% |
| 2020 |
|
|
5,568 |
|
|
|
$3.88 |
|
|
|
to |
|
|
|
$1.86 |
|
|
|
$23,375 |
|
|
|
|
|
|
|
0.40 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
17.22 |
% |
|
|
to |
|
|
|
15.70 |
% |
| Fid VIP Overseas, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
95 |
|
|
|
$2.25 |
|
|
|
to |
|
|
|
$2.14 |
|
|
|
$208 |
|
|
|
|
|
|
|
1.58 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
4.17 |
% |
|
|
to |
|
|
|
3.96 |
% |
| 2023 |
|
|
100 |
|
|
|
$2.16 |
|
|
|
to |
|
|
|
$2.06 |
|
|
|
$209 |
|
|
|
|
|
|
|
0.96 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
19.51 |
% |
|
|
to |
|
|
|
19.27 |
% |
| 2022 |
|
|
105 |
|
|
|
$1.80 |
|
|
|
to |
|
|
|
$1.73 |
|
|
|
$185 |
|
|
|
|
|
|
|
0.95 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(25.15 |
%) |
|
|
to |
|
|
|
(25.30 |
%) |
| 2021 |
|
|
112 |
|
|
|
$2.41 |
|
|
|
to |
|
|
|
$2.31 |
|
|
|
$264 |
|
|
|
|
|
|
|
0.44 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
18.68 |
% |
|
|
to |
|
|
|
18.44 |
% |
| 2020 |
|
|
117 |
|
|
|
$2.03 |
|
|
|
to |
|
|
|
$1.95 |
|
|
|
$233 |
|
|
|
|
|
|
|
0.35 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
14.63 |
% |
|
|
to |
|
|
|
14.40 |
% |
| Fid VIP Overseas, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
875 |
|
|
|
$2.63 |
|
|
|
to |
|
|
|
$1.79 |
|
|
|
$2,304 |
|
|
|
|
|
|
|
1.35 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
4.23 |
% |
|
|
to |
|
|
|
3.29 |
% |
| 2023 |
|
|
932 |
|
|
|
$2.53 |
|
|
|
to |
|
|
|
$1.73 |
|
|
|
$2,333 |
|
|
|
|
|
|
|
0.80 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
19.56 |
% |
|
|
to |
|
|
|
18.50 |
% |
| 2022 |
|
|
1,036 |
|
|
|
$2.11 |
|
|
|
to |
|
|
|
$1.46 |
|
|
|
$2,147 |
|
|
|
|
|
|
|
0.82 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(25.10 |
%) |
|
|
to |
|
|
|
(25.76 |
%) |
| 2021 |
|
|
1,117 |
|
|
|
$2.82 |
|
|
|
to |
|
|
|
$1.97 |
|
|
|
$3,108 |
|
|
|
|
|
|
|
0.32 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
18.73 |
% |
|
|
to |
|
|
|
17.67 |
% |
| 2020 |
|
|
1,200 |
|
|
|
$2.38 |
|
|
|
to |
|
|
|
$1.67 |
|
|
|
$2,805 |
|
|
|
|
|
|
|
0.22 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
14.70 |
% |
|
|
to |
|
|
|
13.67 |
% |
| Fid VIP Strategic Inc, Serv Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
8,615 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$10,888 |
|
|
|
|
|
|
|
3.74 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.20 |
% |
|
|
to |
|
|
|
3.82 |
% |
| 2023 |
|
|
7,687 |
|
|
|
$1.27 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$9,250 |
|
|
|
|
|
|
|
4.36 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.58 |
% |
|
|
to |
|
|
|
7.18 |
% |
| 2022 |
|
|
7,925 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$8,816 |
|
|
|
|
|
|
|
3.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(12.01 |
%) |
|
|
to |
|
|
|
(13.14 |
%) |
| 2021 |
|
|
7,071 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$8,973 |
|
|
|
|
|
|
|
2.59 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.96 |
% |
|
|
to |
|
|
|
1.61 |
% |
| 2020 |
|
|
6,614 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$8,189 |
|
|
|
|
|
|
|
3.30 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.57 |
% |
|
|
to |
|
|
|
5.20 |
% |
| Frank Global Real Est, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
821 |
|
|
|
$1.50 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$1,888 |
|
|
|
|
|
|
|
1.83 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(0.87 |
%) |
|
|
to |
|
|
|
(1.76 |
%) |
| 2023 |
|
|
898 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$2,067 |
|
|
|
|
|
|
|
2.91 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
10.82 |
% |
|
|
to |
|
|
|
9.83 |
% |
| 2022 |
|
|
974 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.02 |
|
|
|
$2,015 |
|
|
|
|
|
|
|
2.41 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(26.47 |
%) |
|
|
to |
|
|
|
(27.12 |
%) |
| 2021 |
|
|
1,007 |
|
|
|
$1.86 |
|
|
|
to |
|
|
|
$1.39 |
|
|
|
$2,827 |
|
|
|
|
|
|
|
0.90 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
26.09 |
% |
|
|
to |
|
|
|
24.97 |
% |
| 2020 |
|
|
1,214 |
|
|
|
$1.47 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$2,685 |
|
|
|
|
|
|
|
3.31 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(5.91 |
%) |
|
|
to |
|
|
|
(6.75 |
%) |
| Frank Inc, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,620 |
|
|
|
$1.77 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$4,337 |
|
|
|
|
|
|
|
5.19 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.61 |
% |
|
|
to |
|
|
|
5.23 |
% |
| 2023 |
|
|
2,931 |
|
|
|
$1.66 |
|
|
|
to |
|
|
|
$1.44 |
|
|
|
$4,574 |
|
|
|
|
|
|
|
4.97 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.04 |
% |
|
|
to |
|
|
|
6.64 |
% |
| 2022 |
|
|
2,971 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.35 |
|
|
|
$4,308 |
|
|
|
|
|
|
|
4.79 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.98 |
%) |
|
|
to |
|
|
|
(7.20 |
%) |
| 2021 |
|
|
2,734 |
|
|
|
$1.63 |
|
|
|
to |
|
|
|
$1.46 |
|
|
|
$4,247 |
|
|
|
|
|
|
|
4.66 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.11 |
% |
|
|
to |
|
|
|
14.61 |
% |
| 2020 |
|
|
2,552 |
|
|
|
$1.40 |
|
|
|
to |
|
|
|
$1.27 |
|
|
|
$3,435 |
|
|
|
|
|
|
|
5.80 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.14 |
% |
|
|
to |
|
|
|
(1.15 |
%) |
| Frank Inc, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
786 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$865 |
|
|
|
|
|
|
|
4.81 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
6.38 |
% |
|
|
to |
|
|
|
5.42 |
% |
| 2023 |
|
|
689 |
|
|
|
$1.05 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$716 |
|
|
|
|
|
|
|
4.91 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
7.84 |
% |
|
|
to |
|
|
|
6.88 |
% |
| 2022 |
|
|
357 |
|
|
|
$0.97 |
|
|
|
to |
|
|
|
$0.96 |
|
|
|
$346 |
|
|
|
|
|
|
|
6.45 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(3.02 |
%)(7) |
|
|
to |
|
|
|
(3.59 |
%)(7) |
|
|
|
|
|
| 136 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Frank Mutual Gbl Dis, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
55 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$69 |
|
|
|
|
|
|
|
2.20 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
3.90 |
% |
|
|
to |
|
|
|
2.97 |
% |
| 2023 |
|
|
25 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$31 |
|
|
|
|
|
|
|
2.04 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
19.36 |
% |
|
|
to |
|
|
|
18.29 |
% |
| 2022 |
|
|
10 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$11 |
|
|
|
|
|
|
|
2.19 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(0.78 |
%)(7) |
|
|
to |
|
|
|
(1.37 |
%)(7) |
| Frank Mutual Shares, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,471 |
|
|
|
$3.05 |
|
|
|
to |
|
|
|
$1.76 |
|
|
|
$7,001 |
|
|
|
|
|
|
|
1.91 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.66 |
% |
|
|
to |
|
|
|
9.22 |
% |
| 2023 |
|
|
3,048 |
|
|
|
$2.76 |
|
|
|
to |
|
|
|
$1.61 |
|
|
|
$7,817 |
|
|
|
|
|
|
|
1.83 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.84 |
% |
|
|
to |
|
|
|
11.39 |
% |
| 2022 |
|
|
3,453 |
|
|
|
$2.44 |
|
|
|
to |
|
|
|
$1.45 |
|
|
|
$7,818 |
|
|
|
|
|
|
|
1.80 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(7.94 |
%) |
|
|
to |
|
|
|
(9.12 |
%) |
| 2021 |
|
|
4,052 |
|
|
|
$2.65 |
|
|
|
to |
|
|
|
$1.59 |
|
|
|
$9,989 |
|
|
|
|
|
|
|
2.89 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
18.51 |
% |
|
|
to |
|
|
|
16.98 |
% |
| 2020 |
|
|
4,290 |
|
|
|
$2.24 |
|
|
|
to |
|
|
|
$1.36 |
|
|
|
$8,929 |
|
|
|
|
|
|
|
2.79 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.56 |
%) |
|
|
to |
|
|
|
(6.79 |
%) |
| Frank Sm Cap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,381 |
|
|
|
$4.39 |
|
|
|
to |
|
|
|
$2.24 |
|
|
|
$7,059 |
|
|
|
|
|
|
|
0.94 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.08 |
% |
|
|
to |
|
|
|
9.65 |
% |
| 2023 |
|
|
1,668 |
|
|
|
$3.95 |
|
|
|
to |
|
|
|
$2.04 |
|
|
|
$7,579 |
|
|
|
|
|
|
|
0.52 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.13 |
% |
|
|
to |
|
|
|
10.69 |
% |
| 2022 |
|
|
1,756 |
|
|
|
$3.53 |
|
|
|
to |
|
|
|
$1.84 |
|
|
|
$7,114 |
|
|
|
|
|
|
|
0.98 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(10.56 |
%) |
|
|
to |
|
|
|
(11.71 |
%) |
| 2021 |
|
|
1,932 |
|
|
|
$3.94 |
|
|
|
to |
|
|
|
$2.09 |
|
|
|
$8,656 |
|
|
|
|
|
|
|
1.00 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.68 |
% |
|
|
to |
|
|
|
23.07 |
% |
| 2020 |
|
|
2,156 |
|
|
|
$3.16 |
|
|
|
to |
|
|
|
$1.70 |
|
|
|
$7,786 |
|
|
|
|
|
|
|
1.49 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.61 |
% |
|
|
to |
|
|
|
3.27 |
% |
| Frank Sm Cap Val, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
642 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$780 |
|
|
|
|
|
|
|
0.69 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
10.89 |
% |
|
|
to |
|
|
|
9.86 |
% |
| 2023 |
|
|
370 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$408 |
|
|
|
|
|
|
|
0.33 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
11.95 |
% |
|
|
to |
|
|
|
10.93 |
% |
| 2022 |
|
|
36 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.98 |
|
|
|
$37 |
|
|
|
|
|
|
|
0.11 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(1.65 |
%)(7) |
|
|
to |
|
|
|
(2.23 |
%)(7) |
| GS VIT Mid Cap Val, Inst |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
807 |
|
|
|
$4.80 |
|
|
|
to |
|
|
|
$6.23 |
|
|
|
$6,274 |
|
|
|
|
|
|
|
0.97 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
11.78 |
% |
|
|
to |
|
|
|
11.05 |
% |
| 2023 |
|
|
944 |
|
|
|
$4.30 |
|
|
|
to |
|
|
|
$5.61 |
|
|
|
$6,556 |
|
|
|
|
|
|
|
1.03 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
10.81 |
% |
|
|
to |
|
|
|
10.09 |
% |
| 2022 |
|
|
989 |
|
|
|
$3.88 |
|
|
|
to |
|
|
|
$5.10 |
|
|
|
$6,211 |
|
|
|
|
|
|
|
0.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(10.48 |
%) |
|
|
to |
|
|
|
(11.06 |
%) |
| 2021 |
|
|
1,084 |
|
|
|
$4.33 |
|
|
|
to |
|
|
|
$5.73 |
|
|
|
$7,658 |
|
|
|
|
|
|
|
0.46 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
30.23 |
% |
|
|
to |
|
|
|
29.39 |
% |
| 2020 |
|
|
1,277 |
|
|
|
$3.33 |
|
|
|
to |
|
|
|
$4.43 |
|
|
|
$6,943 |
|
|
|
|
|
|
|
0.64 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
7.81 |
% |
|
|
to |
|
|
|
7.11 |
% |
| GS VIT Multi-Strategy Alt, Advisor |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
587 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$594 |
|
|
|
|
|
|
|
2.57 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.54 |
% |
|
|
to |
|
|
|
1.22 |
% |
| 2023 |
|
|
600 |
|
|
|
$1.04 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$595 |
|
|
|
|
|
|
|
6.48 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.94 |
% |
|
|
to |
|
|
|
5.57 |
% |
| 2022 |
|
|
614 |
|
|
|
$0.97 |
|
|
|
to |
|
|
|
$0.87 |
|
|
|
$574 |
|
|
|
|
|
|
|
3.07 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(7.37 |
%) |
|
|
to |
|
|
|
(8.54 |
%) |
| 2021 |
|
|
661 |
|
|
|
$1.05 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$669 |
|
|
|
|
|
|
|
1.64 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.08 |
% |
|
|
to |
|
|
|
2.74 |
% |
| 2020 |
|
|
532 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$520 |
|
|
|
|
|
|
|
2.38 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.00 |
% |
|
|
to |
|
|
|
4.62 |
% |
| GS VIT Multi-Strategy Alt, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
125 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$131 |
|
|
|
|
|
|
|
3.24 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
2.61 |
% |
|
|
to |
|
|
|
1.70 |
% |
| 2023 |
|
|
92 |
|
|
|
$1.03 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$95 |
|
|
|
|
|
|
|
13.84 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
7.07 |
% |
|
|
to |
|
|
|
6.12 |
% |
| 2022 |
|
|
14 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$0.96 |
|
|
|
$14 |
|
|
|
|
|
|
|
11.14 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(3.70 |
%)(7) |
|
|
to |
|
|
|
(4.27 |
%)(7) |
| GS VIT Sm Cap Eq Insights, Inst |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
33 |
|
|
|
$5.15 |
|
|
|
to |
|
|
|
$4.91 |
|
|
|
$164 |
|
|
|
|
|
|
|
0.97 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
18.16 |
% |
|
|
to |
|
|
|
17.92 |
% |
| 2023 |
|
|
39 |
|
|
|
$4.36 |
|
|
|
to |
|
|
|
$4.16 |
|
|
|
$164 |
|
|
|
|
|
|
|
1.04 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
18.39 |
% |
|
|
to |
|
|
|
18.15 |
% |
| 2022 |
|
|
41 |
|
|
|
$3.68 |
|
|
|
to |
|
|
|
$3.52 |
|
|
|
$145 |
|
|
|
|
|
|
|
0.20 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(19.98 |
%) |
|
|
to |
|
|
|
(20.14 |
%) |
| 2021 |
|
|
114 |
|
|
|
$4.61 |
|
|
|
to |
|
|
|
$4.41 |
|
|
|
$508 |
|
|
|
|
|
|
|
0.48 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
22.87 |
% |
|
|
to |
|
|
|
22.62 |
% |
| 2020 |
|
|
112 |
|
|
|
$3.75 |
|
|
|
to |
|
|
|
$3.60 |
|
|
|
$406 |
|
|
|
|
|
|
|
0.24 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
7.77 |
% |
|
|
to |
|
|
|
7.56 |
% |
| GS VIT Sm Cap Eq Insights, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
123 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.30 |
|
|
|
$163 |
|
|
|
|
|
|
|
0.83 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
18.04 |
% |
|
|
to |
|
|
|
16.98 |
% |
| 2023 |
|
|
106 |
|
|
|
$1.12 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$119 |
|
|
|
|
|
|
|
1.38 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
18.18 |
% |
|
|
to |
|
|
|
17.13 |
% |
| 2022 |
|
|
35 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$35 |
|
|
|
|
|
|
|
0.31 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(5.77 |
%)(7) |
|
|
to |
|
|
|
(6.32 |
%)(7) |
| GS VIT U.S. Eq Insights, Inst |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
797 |
|
|
|
$5.60 |
|
|
|
to |
|
|
|
$4.38 |
|
|
|
$3,887 |
|
|
|
|
|
|
|
0.61 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
27.61 |
% |
|
|
to |
|
|
|
26.47 |
% |
| 2023 |
|
|
967 |
|
|
|
$4.39 |
|
|
|
to |
|
|
|
$3.47 |
|
|
|
$3,693 |
|
|
|
|
|
|
|
0.68 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.13 |
% |
|
|
to |
|
|
|
22.03 |
% |
| 2022 |
|
|
1,101 |
|
|
|
$3.57 |
|
|
|
to |
|
|
|
$2.84 |
|
|
|
$3,399 |
|
|
|
|
|
|
|
0.78 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(20.18 |
%) |
|
|
to |
|
|
|
(20.89 |
%) |
| 2021 |
|
|
1,236 |
|
|
|
$4.47 |
|
|
|
to |
|
|
|
$3.59 |
|
|
|
$4,784 |
|
|
|
|
|
|
|
0.78 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
28.70 |
% |
|
|
to |
|
|
|
27.54 |
% |
| 2020 |
|
|
1,422 |
|
|
|
$3.47 |
|
|
|
to |
|
|
|
$2.81 |
|
|
|
$4,305 |
|
|
|
|
|
|
|
0.83 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
16.90 |
% |
|
|
to |
|
|
|
15.86 |
% |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Invesco VI Am Fran, Ser I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
55 |
|
|
|
$5.07 |
|
|
|
to |
|
|
|
$4.94 |
|
|
|
$275 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
33.88 |
% |
|
|
to |
|
|
|
33.61 |
% |
| 2023 |
|
|
67 |
|
|
|
$3.78 |
|
|
|
to |
|
|
|
$3.70 |
|
|
|
$252 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
39.88 |
% |
|
|
to |
|
|
|
39.60 |
% |
| 2022 |
|
|
116 |
|
|
|
$2.71 |
|
|
|
to |
|
|
|
$2.65 |
|
|
|
$309 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(31.63 |
%) |
|
|
to |
|
|
|
(31.76 |
%) |
| 2021 |
|
|
120 |
|
|
|
$3.96 |
|
|
|
to |
|
|
|
$3.88 |
|
|
|
$470 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
11.09 |
% |
|
|
to |
|
|
|
10.87 |
% |
| 2020 |
|
|
121 |
|
|
|
$3.56 |
|
|
|
to |
|
|
|
$3.50 |
|
|
|
$425 |
|
|
|
|
|
|
|
0.08 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
41.29 |
% |
|
|
to |
|
|
|
41.01 |
% |
| Invesco VI Am Fran, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
409 |
|
|
|
$5.03 |
|
|
|
to |
|
|
|
$4.49 |
|
|
|
$1,971 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
33.82 |
% |
|
|
to |
|
|
|
32.61 |
% |
| 2023 |
|
|
512 |
|
|
|
$3.76 |
|
|
|
to |
|
|
|
$3.39 |
|
|
|
$1,851 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
39.83 |
% |
|
|
to |
|
|
|
38.58 |
% |
| 2022 |
|
|
566 |
|
|
|
$2.69 |
|
|
|
to |
|
|
|
$2.44 |
|
|
|
$1,466 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(31.67 |
%) |
|
|
to |
|
|
|
(32.29 |
%) |
| 2021 |
|
|
616 |
|
|
|
$3.94 |
|
|
|
to |
|
|
|
$3.61 |
|
|
|
$2,346 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.04 |
% |
|
|
to |
|
|
|
10.04 |
% |
| 2020 |
|
|
695 |
|
|
|
$3.55 |
|
|
|
to |
|
|
|
$3.28 |
|
|
|
$2,391 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
41.22 |
% |
|
|
to |
|
|
|
39.95 |
% |
| Invesco VI Bal Risk Alloc, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,061 |
|
|
|
$1.39 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$1,382 |
|
|
|
|
|
|
|
5.92 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.99 |
% |
|
|
to |
|
|
|
1.65 |
% |
| 2023 |
|
|
1,041 |
|
|
|
$1.35 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$1,323 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.82 |
% |
|
|
to |
|
|
|
4.45 |
% |
| 2022 |
|
|
986 |
|
|
|
$1.28 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$1,193 |
|
|
|
|
|
|
|
7.58 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(14.98 |
%) |
|
|
to |
|
|
|
(16.08 |
%) |
| 2021 |
|
|
943 |
|
|
|
$1.50 |
|
|
|
to |
|
|
|
$1.34 |
|
|
|
$1,352 |
|
|
|
|
|
|
|
3.01 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.66 |
% |
|
|
to |
|
|
|
7.26 |
% |
| 2020 |
|
|
950 |
|
|
|
$1.38 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$1,261 |
|
|
|
|
|
|
|
7.58 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.39 |
% |
|
|
to |
|
|
|
7.97 |
% |
| Invesco VI Comstock, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,041 |
|
|
|
$4.33 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$4,092 |
|
|
|
|
|
|
|
1.44 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
14.23 |
% |
|
|
to |
|
|
|
13.09 |
% |
| 2023 |
|
|
1,204 |
|
|
|
$3.79 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$4,182 |
|
|
|
|
|
|
|
1.57 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
11.48 |
% |
|
|
to |
|
|
|
10.37 |
% |
| 2022 |
|
|
1,337 |
|
|
|
$3.40 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$4,182 |
|
|
|
|
|
|
|
1.30 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
0.29 |
% |
|
|
to |
|
|
|
0.68 |
%(7) |
| 2021 |
|
|
1,591 |
|
|
|
$3.39 |
|
|
|
to |
|
|
|
$2.71 |
|
|
|
$5,001 |
|
|
|
|
|
|
|
1.56 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
32.31 |
% |
|
|
to |
|
|
|
31.13 |
% |
| 2020 |
|
|
1,919 |
|
|
|
$2.56 |
|
|
|
to |
|
|
|
$2.06 |
|
|
|
$4,570 |
|
|
|
|
|
|
|
2.16 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(1.63 |
%) |
|
|
to |
|
|
|
(2.51 |
%) |
| Invesco VI Core Eq, Ser I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,038 |
|
|
|
$6.08 |
|
|
|
to |
|
|
|
$6.08 |
|
|
|
$6,335 |
|
|
|
|
|
|
|
0.70 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
24.04 |
% |
|
|
to |
|
|
|
24.04 |
% |
| 2023 |
|
|
1,102 |
|
|
|
$4.90 |
|
|
|
to |
|
|
|
$4.90 |
|
|
|
$5,425 |
|
|
|
|
|
|
|
0.74 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
21.84 |
% |
|
|
to |
|
|
|
21.84 |
% |
| 2022 |
|
|
1,202 |
|
|
|
$4.02 |
|
|
|
to |
|
|
|
$4.02 |
|
|
|
$4,858 |
|
|
|
|
|
|
|
0.91 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
(21.53 |
%) |
|
|
to |
|
|
|
(21.53 |
%) |
| 2021 |
|
|
1,288 |
|
|
|
$5.13 |
|
|
|
to |
|
|
|
$5.13 |
|
|
|
$6,637 |
|
|
|
|
|
|
|
0.66 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
26.15 |
% |
|
|
to |
|
|
|
26.15 |
% |
| 2020 |
|
|
1,403 |
|
|
|
$4.06 |
|
|
|
to |
|
|
|
$4.06 |
|
|
|
$5,731 |
|
|
|
|
|
|
|
1.30 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
12.44 |
% |
|
|
to |
|
|
|
12.44 |
% |
| Invesco VI Core Plus Bond, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
513 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$515 |
|
|
|
|
|
|
|
3.90 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
2.05 |
% |
|
|
to |
|
|
|
1.14 |
% |
| 2023 |
|
|
427 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.98 |
|
|
|
$422 |
|
|
|
|
|
|
|
4.13 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.16 |
% |
|
|
to |
|
|
|
4.23 |
% |
| 2022 |
|
|
124 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$118 |
|
|
|
|
|
|
|
0.98 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(4.93 |
%)(7) |
|
|
to |
|
|
|
(5.50 |
%)(7) |
| Invesco VI Dis Mid Cap Gro, Ser I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
469 |
|
|
|
$1.69 |
|
|
|
to |
|
|
|
$1.66 |
|
|
|
$791 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
23.30 |
% |
|
|
to |
|
|
|
22.74 |
% |
| 2023 |
|
|
495 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.35 |
|
|
|
$678 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
12.31 |
% |
|
|
to |
|
|
|
11.81 |
% |
| 2022 |
|
|
499 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$1.21 |
|
|
|
$609 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(31.50 |
%) |
|
|
to |
|
|
|
(31.80 |
%) |
| 2021 |
|
|
565 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.77 |
|
|
|
$1,006 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
18.21 |
% |
|
|
to |
|
|
|
17.68 |
% |
| 2020 |
|
|
582 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$1.50 |
|
|
|
$878 |
|
|
|
|
|
|
|
0.05 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
50.82 |
%(5) |
|
|
to |
|
|
|
50.36 |
%(5) |
| Invesco VI Dis Mid Cap Gro, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
214 |
|
|
|
$1.69 |
|
|
|
to |
|
|
|
$1.62 |
|
|
|
$354 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.24 |
% |
|
|
to |
|
|
|
22.13 |
% |
| 2023 |
|
|
311 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.32 |
|
|
|
$419 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.23 |
% |
|
|
to |
|
|
|
11.23 |
% |
| 2022 |
|
|
317 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$1.19 |
|
|
|
$383 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(31.51 |
%) |
|
|
to |
|
|
|
(32.12 |
%) |
| 2021 |
|
|
356 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.75 |
|
|
|
$631 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
18.14 |
% |
|
|
to |
|
|
|
17.08 |
% |
| 2020 |
|
|
460 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$1.50 |
|
|
|
$692 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
50.65 |
%(5) |
|
|
to |
|
|
|
49.72 |
%(5) |
| Invesco VI Div Divd, Ser I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
145 |
|
|
|
$3.20 |
|
|
|
to |
|
|
|
$2.92 |
|
|
|
$445 |
|
|
|
|
|
|
|
1.32 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
12.59 |
% |
|
|
to |
|
|
|
11.86 |
% |
| 2023 |
|
|
263 |
|
|
|
$2.84 |
|
|
|
to |
|
|
|
$2.61 |
|
|
|
$707 |
|
|
|
|
|
|
|
2.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
8.45 |
% |
|
|
to |
|
|
|
7.75 |
% |
| 2022 |
|
|
262 |
|
|
|
$2.62 |
|
|
|
to |
|
|
|
$2.43 |
|
|
|
$652 |
|
|
|
|
|
|
|
1.81 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(2.22 |
%) |
|
|
to |
|
|
|
(2.85 |
%) |
| 2021 |
|
|
293 |
|
|
|
$2.68 |
|
|
|
to |
|
|
|
$2.50 |
|
|
|
$751 |
|
|
|
|
|
|
|
2.16 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
18.24 |
% |
|
|
to |
|
|
|
17.48 |
% |
| 2020 |
|
|
310 |
|
|
|
$2.26 |
|
|
|
to |
|
|
|
$2.13 |
|
|
|
$676 |
|
|
|
|
|
|
|
2.99 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(0.41 |
%) |
|
|
to |
|
|
|
(1.05 |
%) |
|
|
|
|
|
| 138 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Invesco VI Div Divd, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
107 |
|
|
|
$2.96 |
|
|
|
to |
|
|
|
$2.73 |
|
|
|
$314 |
|
|
|
|
|
|
|
1.68 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.00 |
% |
|
|
to |
|
|
|
11.33 |
% |
| 2023 |
|
|
109 |
|
|
|
$2.65 |
|
|
|
to |
|
|
|
$2.45 |
|
|
|
$283 |
|
|
|
|
|
|
|
1.70 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
7.85 |
% |
|
|
to |
|
|
|
7.21 |
% |
| 2022 |
|
|
121 |
|
|
|
$2.45 |
|
|
|
to |
|
|
|
$2.29 |
|
|
|
$294 |
|
|
|
|
|
|
|
1.32 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(2.75 |
%) |
|
|
to |
|
|
|
(3.33 |
%) |
| 2021 |
|
|
184 |
|
|
|
$2.52 |
|
|
|
to |
|
|
|
$2.37 |
|
|
|
$459 |
|
|
|
|
|
|
|
1.81 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
17.59 |
% |
|
|
to |
|
|
|
16.89 |
% |
| 2020 |
|
|
256 |
|
|
|
$2.15 |
|
|
|
to |
|
|
|
$2.03 |
|
|
|
$546 |
|
|
|
|
|
|
|
2.59 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(0.98 |
%) |
|
|
to |
|
|
|
(1.57 |
%) |
| Invesco VI EQV Intl Eq, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
677 |
|
|
|
$2.47 |
|
|
|
to |
|
|
|
$1.84 |
|
|
|
$1,487 |
|
|
|
|
|
|
|
1.33 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(0.21 |
%) |
|
|
to |
|
|
|
(1.11 |
%) |
| 2023 |
|
|
873 |
|
|
|
$2.48 |
|
|
|
to |
|
|
|
$1.86 |
|
|
|
$1,946 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
17.22 |
% |
|
|
to |
|
|
|
16.17 |
% |
| 2022 |
|
|
968 |
|
|
|
$2.12 |
|
|
|
to |
|
|
|
$1.60 |
|
|
|
$1,851 |
|
|
|
|
|
|
|
1.35 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(18.95 |
%) |
|
|
to |
|
|
|
(19.68 |
%) |
| 2021 |
|
|
1,176 |
|
|
|
$2.61 |
|
|
|
to |
|
|
|
$2.00 |
|
|
|
$2,784 |
|
|
|
|
|
|
|
1.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.03 |
% |
|
|
to |
|
|
|
4.09 |
% |
| 2020 |
|
|
1,261 |
|
|
|
$2.49 |
|
|
|
to |
|
|
|
$1.92 |
|
|
|
$2,857 |
|
|
|
|
|
|
|
2.09 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
13.12 |
% |
|
|
to |
|
|
|
12.10 |
% |
| Invesco VI Global, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,101 |
|
|
|
$4.69 |
|
|
|
to |
|
|
|
$2.40 |
|
|
|
$8,239 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
15.15 |
% |
|
|
to |
|
|
|
13.65 |
% |
| 2023 |
|
|
2,316 |
|
|
|
$4.08 |
|
|
|
to |
|
|
|
$2.11 |
|
|
|
$7,899 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
33.71 |
% |
|
|
to |
|
|
|
31.99 |
% |
| 2022 |
|
|
2,662 |
|
|
|
$3.05 |
|
|
|
to |
|
|
|
$1.60 |
|
|
|
$6,813 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(32.31 |
%) |
|
|
to |
|
|
|
(33.18 |
%) |
| 2021 |
|
|
2,550 |
|
|
|
$4.50 |
|
|
|
to |
|
|
|
$2.39 |
|
|
|
$9,730 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.54 |
% |
|
|
to |
|
|
|
13.06 |
% |
| 2020 |
|
|
2,646 |
|
|
|
$3.93 |
|
|
|
to |
|
|
|
$2.12 |
|
|
|
$8,833 |
|
|
|
|
|
|
|
0.45 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
26.64 |
% |
|
|
to |
|
|
|
25.00 |
% |
| Invesco VI Gbl Strat Inc, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
3,896 |
|
|
|
$1.69 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$5,937 |
|
|
|
|
|
|
|
2.65 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.22 |
% |
|
|
to |
|
|
|
0.90 |
% |
| 2023 |
|
|
4,315 |
|
|
|
$1.66 |
|
|
|
to |
|
|
|
$0.91 |
|
|
|
$6,451 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.01 |
% |
|
|
to |
|
|
|
6.61 |
% |
| 2022 |
|
|
4,643 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$0.85 |
|
|
|
$6,457 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(12.20 |
%) |
|
|
to |
|
|
|
(13.33 |
%) |
| 2021 |
|
|
5,314 |
|
|
|
$1.75 |
|
|
|
to |
|
|
|
$0.98 |
|
|
|
$8,438 |
|
|
|
|
|
|
|
4.25 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.09 |
%) |
|
|
to |
|
|
|
(5.34 |
%) |
| 2020 |
|
|
5,727 |
|
|
|
$1.82 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$9,534 |
|
|
|
|
|
|
|
5.27 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.43 |
% |
|
|
to |
|
|
|
1.10 |
% |
| Invesco VI Hlth, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
295 |
|
|
|
$3.41 |
|
|
|
to |
|
|
|
$3.05 |
|
|
|
$967 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.30 |
% |
|
|
to |
|
|
|
2.37 |
% |
| 2023 |
|
|
418 |
|
|
|
$3.30 |
|
|
|
to |
|
|
|
$2.98 |
|
|
|
$1,334 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
2.20 |
% |
|
|
to |
|
|
|
1.29 |
% |
| 2022 |
|
|
463 |
|
|
|
$3.23 |
|
|
|
to |
|
|
|
$2.94 |
|
|
|
$1,457 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(14.01 |
%) |
|
|
to |
|
|
|
(14.78 |
%) |
| 2021 |
|
|
434 |
|
|
|
$3.75 |
|
|
|
to |
|
|
|
$3.45 |
|
|
|
$1,599 |
|
|
|
|
|
|
|
0.00 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.43 |
% |
|
|
to |
|
|
|
10.43 |
% |
| 2020 |
|
|
479 |
|
|
|
$3.37 |
|
|
|
to |
|
|
|
$3.12 |
|
|
|
$1,595 |
|
|
|
|
|
|
|
0.09 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
13.57 |
% |
|
|
to |
|
|
|
12.56 |
% |
| Invesco VI Main St, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
66 |
|
|
|
$2.16 |
|
|
|
to |
|
|
|
$2.06 |
|
|
|
$142 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
22.34 |
% |
|
|
to |
|
|
|
21.61 |
% |
| 2023 |
|
|
91 |
|
|
|
$1.76 |
|
|
|
to |
|
|
|
$1.69 |
|
|
|
$160 |
|
|
|
|
|
|
|
0.48 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
21.79 |
% |
|
|
to |
|
|
|
21.07 |
% |
| 2022 |
|
|
102 |
|
|
|
$1.45 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$147 |
|
|
|
|
|
|
|
0.90 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(20.98 |
%) |
|
|
to |
|
|
|
(21.45 |
%) |
| 2021 |
|
|
149 |
|
|
|
$1.83 |
|
|
|
to |
|
|
|
$1.78 |
|
|
|
$272 |
|
|
|
|
|
|
|
0.46 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
26.15 |
% |
|
|
to |
|
|
|
25.41 |
% |
| 2020 |
|
|
189 |
|
|
|
$1.45 |
|
|
|
to |
|
|
|
$1.42 |
|
|
|
$274 |
|
|
|
|
|
|
|
1.19 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.73 |
% |
|
|
to |
|
|
|
12.06 |
% |
| Invesco VI Mn St Sm Cap, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,663 |
|
|
|
$5.06 |
|
|
|
to |
|
|
|
$2.55 |
|
|
|
$6,944 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.78 |
% |
|
|
to |
|
|
|
10.33 |
% |
| 2023 |
|
|
1,594 |
|
|
|
$4.53 |
|
|
|
to |
|
|
|
$2.31 |
|
|
|
$6,254 |
|
|
|
|
|
|
|
0.97 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
17.18 |
% |
|
|
to |
|
|
|
15.66 |
% |
| 2022 |
|
|
1,517 |
|
|
|
$3.86 |
|
|
|
to |
|
|
|
$2.00 |
|
|
|
$5,129 |
|
|
|
|
|
|
|
0.26 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.50 |
%) |
|
|
to |
|
|
|
(17.58 |
%) |
| 2021 |
|
|
1,470 |
|
|
|
$4.63 |
|
|
|
to |
|
|
|
$2.42 |
|
|
|
$5,972 |
|
|
|
|
|
|
|
0.18 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
21.59 |
% |
|
|
to |
|
|
|
20.02 |
% |
| 2020 |
|
|
1,530 |
|
|
|
$3.80 |
|
|
|
to |
|
|
|
$2.02 |
|
|
|
$5,132 |
|
|
|
|
|
|
|
0.37 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
18.98 |
% |
|
|
to |
|
|
|
17.44 |
% |
| Invesco VI Tech, Ser I |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
275 |
|
|
|
$6.72 |
|
|
|
to |
|
|
|
$7.79 |
|
|
|
$1,256 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
33.53 |
% |
|
|
to |
|
|
|
32.66 |
% |
| 2023 |
|
|
361 |
|
|
|
$5.03 |
|
|
|
to |
|
|
|
$5.87 |
|
|
|
$1,225 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
46.14 |
% |
|
|
to |
|
|
|
45.20 |
% |
| 2022 |
|
|
367 |
|
|
|
$3.44 |
|
|
|
to |
|
|
|
$4.05 |
|
|
|
$859 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(40.28 |
%) |
|
|
to |
|
|
|
(40.67 |
%) |
| 2021 |
|
|
407 |
|
|
|
$5.77 |
|
|
|
to |
|
|
|
$6.82 |
|
|
|
$1,603 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
13.79 |
% |
|
|
to |
|
|
|
13.05 |
% |
| 2020 |
|
|
463 |
|
|
|
$5.07 |
|
|
|
to |
|
|
|
$6.03 |
|
|
|
$1,610 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
45.31 |
% |
|
|
to |
|
|
|
44.37 |
% |
| Invesco VI Tech, Ser II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
754 |
|
|
|
$1.56 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$1,168 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
32.98 |
% |
|
|
to |
|
|
|
31.78 |
% |
| 2023 |
|
|
428 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$502 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
45.77 |
% |
|
|
to |
|
|
|
44.47 |
% |
| 2022 |
|
|
31 |
|
|
|
$0.80 |
|
|
|
to |
|
|
|
$0.80 |
|
|
|
$26 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(20.88 |
%)(7) |
|
|
to |
|
|
|
(21.36 |
%)(7) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
139 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Janus Henderson VIT Bal, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
12,014 |
|
|
|
$1.73 |
|
|
|
to |
|
|
|
$1.59 |
|
|
|
$19,996 |
|
|
|
|
|
|
|
1.76 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.51 |
% |
|
|
to |
|
|
|
13.02 |
% |
| 2023 |
|
|
11,653 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$17,022 |
|
|
|
|
|
|
|
1.85 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.50 |
% |
|
|
to |
|
|
|
13.03 |
% |
| 2022 |
|
|
10,241 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$13,133 |
|
|
|
|
|
|
|
1.02 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.07 |
%) |
|
|
to |
|
|
|
(18.14 |
%) |
| 2021 |
|
|
9,219 |
|
|
|
$1.59 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$14,328 |
|
|
|
|
|
|
|
0.70 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.27 |
% |
|
|
to |
|
|
|
14.76 |
% |
| 2020 |
|
|
6,794 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.32 |
|
|
|
$9,148 |
|
|
|
|
|
|
|
1.59 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.40 |
% |
|
|
to |
|
|
|
11.94 |
% |
| Janus Henderson VIT Enter, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
159 |
|
|
|
$3.40 |
|
|
|
to |
|
|
|
$3.24 |
|
|
|
$527 |
|
|
|
|
|
|
|
0.63 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
14.46 |
% |
|
|
to |
|
|
|
14.23 |
% |
| 2023 |
|
|
163 |
|
|
|
$2.97 |
|
|
|
to |
|
|
|
$2.83 |
|
|
|
$472 |
|
|
|
|
|
|
|
0.09 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
16.90 |
% |
|
|
to |
|
|
|
16.66 |
% |
| 2022 |
|
|
182 |
|
|
|
$2.54 |
|
|
|
to |
|
|
|
$2.43 |
|
|
|
$453 |
|
|
|
|
|
|
|
0.07 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(16.78 |
%) |
|
|
to |
|
|
|
(16.94 |
%) |
| 2021 |
|
|
345 |
|
|
|
$3.05 |
|
|
|
to |
|
|
|
$2.92 |
|
|
|
$1,027 |
|
|
|
|
|
|
|
0.25 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
15.67 |
% |
|
|
to |
|
|
|
15.44 |
% |
| 2020 |
|
|
392 |
|
|
|
$2.64 |
|
|
|
to |
|
|
|
$2.53 |
|
|
|
$1,012 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
18.29 |
% |
|
|
to |
|
|
|
18.06 |
% |
| Janus Henderson VIT Flex Bd, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
3,822 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$3,968 |
|
|
|
|
|
|
|
4.85 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
1.07 |
% |
|
|
to |
|
|
|
(0.25 |
%) |
| 2023 |
|
|
2,056 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$0.96 |
|
|
|
$2,141 |
|
|
|
|
|
|
|
3.86 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.71 |
% |
|
|
to |
|
|
|
3.36 |
% |
| 2022 |
|
|
1,503 |
|
|
|
$1.05 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$1,504 |
|
|
|
|
|
|
|
1.97 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(14.36 |
%) |
|
|
to |
|
|
|
(15.47 |
%) |
| 2021 |
|
|
1,522 |
|
|
|
$1.23 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$1,789 |
|
|
|
|
|
|
|
1.70 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.65 |
%) |
|
|
to |
|
|
|
(2.93 |
%) |
| 2020 |
|
|
1,182 |
|
|
|
$1.25 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$1,420 |
|
|
|
|
|
|
|
2.48 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.64 |
% |
|
|
to |
|
|
|
8.22 |
% |
| Janus Henderson VIT Forty, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,944 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.49 |
|
|
|
$2,936 |
|
|
|
|
|
|
|
0.00 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
27.30 |
% |
|
|
to |
|
|
|
26.15 |
% |
| 2023 |
|
|
145 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$176 |
|
|
|
|
|
|
|
0.19 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
38.75 |
% |
|
|
to |
|
|
|
37.51 |
% |
| 2022 |
|
|
45 |
|
|
|
$0.87 |
|
|
|
to |
|
|
|
$0.86 |
|
|
|
$41 |
|
|
|
|
|
|
|
0.19 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(14.36 |
%)(7) |
|
|
to |
|
|
|
(14.87 |
%)(7) |
| Janus Hend VIT Gbl Tech Innov, Srv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
543 |
|
|
|
$1.72 |
|
|
|
to |
|
|
|
$1.68 |
|
|
|
$1,683 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
30.90 |
% |
|
|
to |
|
|
|
29.72 |
% |
| 2023 |
|
|
482 |
|
|
|
$1.31 |
|
|
|
to |
|
|
|
$1.29 |
|
|
|
$1,217 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
53.28 |
% |
|
|
to |
|
|
|
51.91 |
% |
| 2022 |
|
|
317 |
|
|
|
$0.86 |
|
|
|
to |
|
|
|
$0.85 |
|
|
|
$697 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(15.76 |
%)(7) |
|
|
to |
|
|
|
(16.26 |
%)(7) |
| 2021 |
|
|
436 |
|
|
|
$3.80 |
|
|
|
to |
|
|
|
$12.53 |
|
|
|
$1,647 |
|
|
|
|
|
|
|
0.12 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
16.87 |
% |
|
|
to |
|
|
|
16.34 |
% |
| 2020 |
|
|
455 |
|
|
|
$3.25 |
|
|
|
to |
|
|
|
$10.77 |
|
|
|
$1,470 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
49.60 |
% |
|
|
to |
|
|
|
48.93 |
% |
| Janus Henderson VIT Overseas, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
593 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$1,136 |
|
|
|
|
|
|
|
1.28 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
4.89 |
% |
|
|
to |
|
|
|
3.94 |
% |
| 2023 |
|
|
566 |
|
|
|
$1.10 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$1,133 |
|
|
|
|
|
|
|
1.43 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
9.87 |
% |
|
|
to |
|
|
|
8.89 |
% |
| 2022 |
|
|
506 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$1.00 |
|
|
|
$961 |
|
|
|
|
|
|
|
1.70 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
0.31 |
%(7) |
|
|
to |
|
|
|
(0.29 |
%)(7) |
| 2021 |
|
|
514 |
|
|
|
$2.16 |
|
|
|
to |
|
|
|
$3.98 |
|
|
|
$1,111 |
|
|
|
|
|
|
|
1.01 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
12.44 |
% |
|
|
to |
|
|
|
11.94 |
% |
| 2020 |
|
|
559 |
|
|
|
$1.92 |
|
|
|
to |
|
|
|
$3.56 |
|
|
|
$1,071 |
|
|
|
|
|
|
|
1.22 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
15.15 |
% |
|
|
to |
|
|
|
14.64 |
% |
| Janus Henderson VIT Res, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
625 |
|
|
|
$5.60 |
|
|
|
to |
|
|
|
$4.14 |
|
|
|
$3,266 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
34.21 |
% |
|
|
to |
|
|
|
32.47 |
% |
| 2023 |
|
|
797 |
|
|
|
$4.17 |
|
|
|
to |
|
|
|
$3.12 |
|
|
|
$3,112 |
|
|
|
|
|
|
|
0.06 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
42.03 |
% |
|
|
to |
|
|
|
40.20 |
% |
| 2022 |
|
|
902 |
|
|
|
$2.94 |
|
|
|
to |
|
|
|
$2.23 |
|
|
|
$2,493 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(30.45 |
%) |
|
|
to |
|
|
|
(31.34 |
%) |
| 2021 |
|
|
928 |
|
|
|
$4.23 |
|
|
|
to |
|
|
|
$3.24 |
|
|
|
$3,716 |
|
|
|
|
|
|
|
0.02 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
19.39 |
% |
|
|
to |
|
|
|
17.85 |
% |
| 2020 |
|
|
993 |
|
|
|
$3.54 |
|
|
|
to |
|
|
|
$2.75 |
|
|
|
$3,345 |
|
|
|
|
|
|
|
0.22 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
31.85 |
% |
|
|
to |
|
|
|
30.15 |
% |
| Lazard Ret Emer Mkts Eq, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
165 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$198 |
|
|
|
|
|
|
|
3.25 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
6.73 |
% |
|
|
to |
|
|
|
5.77 |
% |
| 2023 |
|
|
11 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$14 |
|
|
|
|
|
|
|
7.39 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
21.48 |
% |
|
|
to |
|
|
|
20.40 |
% |
| 2022 |
|
|
— |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$2 |
|
|
|
|
|
|
|
5.35 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(6.40 |
%)(7) |
|
|
to |
|
|
|
(6.96 |
%)(7) |
| Lazard Ret Global Dyn MA, Serv |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
227 |
|
|
|
$1.67 |
|
|
|
to |
|
|
|
$1.43 |
|
|
|
$360 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.00 |
% |
|
|
to |
|
|
|
6.60 |
% |
| 2023 |
|
|
724 |
|
|
|
$1.54 |
|
|
|
to |
|
|
|
$1.34 |
|
|
|
$1,045 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.20 |
% |
|
|
to |
|
|
|
8.79 |
% |
| 2022 |
|
|
764 |
|
|
|
$1.40 |
|
|
|
to |
|
|
|
$1.23 |
|
|
|
$1,007 |
|
|
|
|
|
|
|
0.08 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.84 |
%) |
|
|
to |
|
|
|
(18.90 |
%) |
| 2021 |
|
|
758 |
|
|
|
$1.70 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$1,224 |
|
|
|
|
|
|
|
2.86 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.32 |
% |
|
|
to |
|
|
|
9.88 |
% |
| 2020 |
|
|
671 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.38 |
|
|
|
$980 |
|
|
|
|
|
|
|
0.67 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.26 |
% |
|
|
to |
|
|
|
(1.03 |
%) |
| Lord Abt Bond Debenture, Cl VC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
861 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$910 |
|
|
|
|
|
|
|
6.95 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
6.03 |
% |
|
|
to |
|
|
|
5.07 |
% |
| 2023 |
|
|
558 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$559 |
|
|
|
|
|
|
|
10.08 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.87 |
% |
|
|
to |
|
|
|
4.91 |
% |
| 2022 |
|
|
89 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$85 |
|
|
|
|
|
|
|
14.18 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(4.49 |
%)(7) |
|
|
to |
|
|
|
(5.05 |
%)(7) |
|
|
|
|
|
| 140 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Lord Abt Short Dur Inc, Cl VC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
610 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$646 |
|
|
|
|
|
|
|
4.93 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
4.46 |
% |
|
|
to |
|
|
|
3.51 |
% |
| 2023 |
|
|
363 |
|
|
|
$1.02 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$370 |
|
|
|
|
|
|
|
6.24 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
4.38 |
% |
|
|
to |
|
|
|
3.45 |
% |
| 2022 |
|
|
183 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$180 |
|
|
|
|
|
|
|
9.07 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(1.84 |
%)(7) |
|
|
to |
|
|
|
(2.43 |
%)(7) |
| LVIP AC Intl, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
339 |
|
|
|
$2.57 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$757 |
|
|
|
|
|
|
|
1.35 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
1.89 |
% |
|
|
to |
|
|
|
0.88 |
% |
| 2023 |
|
|
326 |
|
|
|
$2.52 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$739 |
|
|
|
|
|
|
|
1.24 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
11.81 |
% |
|
|
to |
|
|
|
10.71 |
% |
| 2022 |
|
|
318 |
|
|
|
$2.26 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$674 |
|
|
|
|
|
|
|
1.33 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(25.27 |
%) |
|
|
to |
|
|
|
(6.43 |
%)(7) |
| 2021 |
|
|
417 |
|
|
|
$3.02 |
|
|
|
to |
|
|
|
$3.46 |
|
|
|
$1,199 |
|
|
|
|
|
|
|
0.01 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
8.01 |
% |
|
|
to |
|
|
|
7.31 |
% |
| 2020 |
|
|
432 |
|
|
|
$2.80 |
|
|
|
to |
|
|
|
$3.22 |
|
|
|
$1,155 |
|
|
|
|
|
|
|
0.38 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
24.97 |
% |
|
|
to |
|
|
|
24.15 |
% |
| LVIP AC Intl, Std Cl II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
91 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.69 |
|
|
|
$156 |
|
|
|
|
|
|
|
1.60 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
1.83 |
% |
|
|
to |
|
|
|
1.63 |
% |
| 2023 |
|
|
95 |
|
|
|
$1.74 |
|
|
|
to |
|
|
|
$1.66 |
|
|
|
$161 |
|
|
|
|
|
|
|
1.39 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
11.73 |
% |
|
|
to |
|
|
|
11.51 |
% |
| 2022 |
|
|
122 |
|
|
|
$1.56 |
|
|
|
to |
|
|
|
$1.49 |
|
|
|
$185 |
|
|
|
|
|
|
|
1.51 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(25.32 |
%) |
|
|
to |
|
|
|
(25.47 |
%) |
| 2021 |
|
|
141 |
|
|
|
$2.09 |
|
|
|
to |
|
|
|
$2.00 |
|
|
|
$289 |
|
|
|
|
|
|
|
0.16 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
7.94 |
% |
|
|
to |
|
|
|
7.72 |
% |
| 2020 |
|
|
155 |
|
|
|
$1.94 |
|
|
|
to |
|
|
|
$1.86 |
|
|
|
$295 |
|
|
|
|
|
|
|
0.49 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
24.94 |
% |
|
|
to |
|
|
|
24.69 |
% |
| LVIP AC Mid Cap Val, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
701 |
|
|
|
$3.56 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$2,575 |
|
|
|
|
|
|
|
2.38 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
7.93 |
% |
|
|
to |
|
|
|
6.86 |
% |
| 2023 |
|
|
739 |
|
|
|
$3.30 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$2,522 |
|
|
|
|
|
|
|
2.21 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.45 |
% |
|
|
to |
|
|
|
4.40 |
% |
| 2022 |
|
|
644 |
|
|
|
$3.13 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$2,096 |
|
|
|
|
|
|
|
2.12 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(1.93 |
%) |
|
|
to |
|
|
|
(0.64 |
%)(7) |
| 2021 |
|
|
625 |
|
|
|
$3.19 |
|
|
|
to |
|
|
|
$3.48 |
|
|
|
$2,145 |
|
|
|
|
|
|
|
0.98 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
22.34 |
% |
|
|
to |
|
|
|
21.25 |
% |
| 2020 |
|
|
752 |
|
|
|
$2.61 |
|
|
|
to |
|
|
|
$2.87 |
|
|
|
$2,141 |
|
|
|
|
|
|
|
1.66 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
0.56 |
% |
|
|
to |
|
|
|
(0.35 |
%) |
| LVIP AC Ultra, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
419 |
|
|
|
$7.73 |
|
|
|
to |
|
|
|
$7.20 |
|
|
|
$3,172 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
27.91 |
% |
|
|
to |
|
|
|
26.76 |
% |
| 2023 |
|
|
477 |
|
|
|
$6.05 |
|
|
|
to |
|
|
|
$5.68 |
|
|
|
$2,825 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
42.49 |
% |
|
|
to |
|
|
|
41.21 |
% |
| 2022 |
|
|
494 |
|
|
|
$4.24 |
|
|
|
to |
|
|
|
$4.02 |
|
|
|
$2,061 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(32.83 |
%) |
|
|
to |
|
|
|
(33.43 |
%) |
| 2021 |
|
|
603 |
|
|
|
$6.32 |
|
|
|
to |
|
|
|
$6.04 |
|
|
|
$3,779 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
22.32 |
% |
|
|
to |
|
|
|
21.22 |
% |
| 2020 |
|
|
613 |
|
|
|
$5.16 |
|
|
|
to |
|
|
|
$4.98 |
|
|
|
$3,152 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
48.73 |
% |
|
|
to |
|
|
|
47.40 |
% |
| LVIP AC Val, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
2,808 |
|
|
|
$4.01 |
|
|
|
to |
|
|
|
$2.28 |
|
|
|
$11,474 |
|
|
|
|
|
|
|
2.62 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.69 |
% |
|
|
to |
|
|
|
7.28 |
% |
| 2023 |
|
|
3,554 |
|
|
|
$3.69 |
|
|
|
to |
|
|
|
$2.12 |
|
|
|
$13,592 |
|
|
|
|
|
|
|
2.25 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.42 |
% |
|
|
to |
|
|
|
7.04 |
% |
| 2022 |
|
|
3,580 |
|
|
|
$3.41 |
|
|
|
to |
|
|
|
$1.98 |
|
|
|
$12,774 |
|
|
|
|
|
|
|
1.95 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.24 |
%) |
|
|
to |
|
|
|
(1.51 |
%) |
| 2021 |
|
|
3,265 |
|
|
|
$3.41 |
|
|
|
to |
|
|
|
$2.01 |
|
|
|
$11,642 |
|
|
|
|
|
|
|
1.60 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
23.60 |
% |
|
|
to |
|
|
|
22.01 |
% |
| 2020 |
|
|
3,381 |
|
|
|
$2.76 |
|
|
|
to |
|
|
|
$1.65 |
|
|
|
$9,796 |
|
|
|
|
|
|
|
2.14 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.28 |
% |
|
|
to |
|
|
|
(1.02 |
%) |
| LVIP AC Val, Std Cl II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
88 |
|
|
|
$6.09 |
|
|
|
to |
|
|
|
$5.81 |
|
|
|
$521 |
|
|
|
|
|
|
|
2.92 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
8.66 |
% |
|
|
to |
|
|
|
8.44 |
% |
| 2023 |
|
|
91 |
|
|
|
$5.61 |
|
|
|
to |
|
|
|
$5.35 |
|
|
|
$496 |
|
|
|
|
|
|
|
2.41 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
8.28 |
% |
|
|
to |
|
|
|
8.07 |
% |
| 2022 |
|
|
115 |
|
|
|
$5.18 |
|
|
|
to |
|
|
|
$4.95 |
|
|
|
$586 |
|
|
|
|
|
|
|
2.08 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(0.21 |
%) |
|
|
to |
|
|
|
(0.41 |
%) |
| 2021 |
|
|
131 |
|
|
|
$5.19 |
|
|
|
to |
|
|
|
$4.97 |
|
|
|
$669 |
|
|
|
|
|
|
|
1.71 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
23.58 |
% |
|
|
to |
|
|
|
23.33 |
% |
| 2020 |
|
|
151 |
|
|
|
$4.20 |
|
|
|
to |
|
|
|
$4.03 |
|
|
|
$626 |
|
|
|
|
|
|
|
2.32 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
0.22 |
% |
|
|
to |
|
|
|
0.02 |
% |
| LVIP JPM US Eq, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
139 |
|
|
|
$1.44 |
|
|
|
to |
|
|
|
$1.41 |
|
|
|
$201 |
|
|
|
|
|
|
|
0.35 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
22.88 |
% |
|
|
to |
|
|
|
21.77 |
% |
| 2023 |
|
|
153 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$180 |
|
|
|
|
|
|
|
1.02 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
16.04 |
%(8) |
|
|
to |
|
|
|
15.34 |
%(8) |
| Mac VIP Asset Strategy, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
359 |
|
|
|
$1.80 |
|
|
|
to |
|
|
|
$1.54 |
|
|
|
$613 |
|
|
|
|
|
|
|
1.90 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.82 |
% |
|
|
to |
|
|
|
10.37 |
% |
| 2023 |
|
|
375 |
|
|
|
$1.61 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$574 |
|
|
|
|
|
|
|
2.10 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.32 |
% |
|
|
to |
|
|
|
11.85 |
% |
| 2022 |
|
|
403 |
|
|
|
$1.42 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$546 |
|
|
|
|
|
|
|
1.53 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(15.20 |
%) |
|
|
to |
|
|
|
(16.31 |
%) |
| 2021 |
|
|
454 |
|
|
|
$1.67 |
|
|
|
to |
|
|
|
$1.49 |
|
|
|
$729 |
|
|
|
|
|
|
|
1.51 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.83 |
% |
|
|
to |
|
|
|
8.41 |
% |
| 2020 |
|
|
493 |
|
|
|
$1.52 |
|
|
|
to |
|
|
|
$1.38 |
|
|
|
$724 |
|
|
|
|
|
|
|
2.06 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.25 |
% |
|
|
to |
|
|
|
11.78 |
% |
| Mac VIP for Inc, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
108 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$122 |
|
|
|
|
|
|
|
7.15 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
5.61 |
% |
|
|
to |
|
|
|
4.66 |
% |
| 2023 |
|
|
89 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.06 |
|
|
|
$96 |
|
|
|
|
|
|
|
3.82 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
12.12 |
% |
|
|
to |
|
|
|
11.12 |
% |
| 2022 |
|
|
41 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$0.95 |
|
|
|
$41 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(3.70 |
%)(7) |
|
|
to |
|
|
|
(4.27 |
%)(7) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Mac VIP Intl Core Eq, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
144 |
|
|
|
$0.99 |
|
|
|
to |
|
|
|
$0.98 |
|
|
|
$144 |
|
|
|
|
|
|
|
1.77 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(0.97 |
%)(9) |
|
|
to |
|
|
|
(1.57 |
%)(9) |
| MFS Gbl Real Est, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
150 |
|
|
|
$0.87 |
|
|
|
to |
|
|
|
$0.85 |
|
|
|
$130 |
|
|
|
|
|
|
|
1.51 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(3.55 |
%) |
|
|
to |
|
|
|
(4.43 |
%) |
| 2023 |
|
|
135 |
|
|
|
$0.90 |
|
|
|
to |
|
|
|
$0.89 |
|
|
|
$122 |
|
|
|
|
|
|
|
0.61 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
10.49 |
% |
|
|
to |
|
|
|
9.50 |
% |
| 2022 |
|
|
44 |
|
|
|
$0.82 |
|
|
|
to |
|
|
|
$0.81 |
|
|
|
$37 |
|
|
|
|
|
|
|
1.77 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(16.74 |
%)(7) |
|
|
to |
|
|
|
(17.24 |
%)(7) |
| MFS Intl Gro, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
216 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$258 |
|
|
|
|
|
|
|
0.82 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
8.05 |
% |
|
|
to |
|
|
|
7.09 |
% |
| 2023 |
|
|
115 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$128 |
|
|
|
|
|
|
|
1.00 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
13.66 |
% |
|
|
to |
|
|
|
12.66 |
% |
| 2022 |
|
|
47 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.97 |
|
|
|
$47 |
|
|
|
|
|
|
|
0.07 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(1.98 |
%)(7) |
|
|
to |
|
|
|
(2.56 |
%)(7) |
| MFS Mass Inv Gro Stock, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,136 |
|
|
|
$3.15 |
|
|
|
to |
|
|
|
$2.88 |
|
|
|
$3,448 |
|
|
|
|
|
|
|
0.12 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
15.34 |
% |
|
|
to |
|
|
|
14.30 |
% |
| 2023 |
|
|
1,301 |
|
|
|
$2.73 |
|
|
|
to |
|
|
|
$2.52 |
|
|
|
$3,436 |
|
|
|
|
|
|
|
0.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.02 |
% |
|
|
to |
|
|
|
21.93 |
% |
| 2022 |
|
|
1,402 |
|
|
|
$2.22 |
|
|
|
to |
|
|
|
$2.07 |
|
|
|
$3,024 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(19.89 |
%) |
|
|
to |
|
|
|
(20.61 |
%) |
| 2021 |
|
|
1,619 |
|
|
|
$2.77 |
|
|
|
to |
|
|
|
$2.61 |
|
|
|
$4,378 |
|
|
|
|
|
|
|
0.03 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
24.97 |
% |
|
|
to |
|
|
|
23.85 |
% |
| 2020 |
|
|
1,830 |
|
|
|
$2.22 |
|
|
|
to |
|
|
|
$2.10 |
|
|
|
$3,976 |
|
|
|
|
|
|
|
0.22 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
21.53 |
% |
|
|
to |
|
|
|
20.44 |
% |
| MFS New Dis, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
355 |
|
|
|
$5.04 |
|
|
|
to |
|
|
|
$5.59 |
|
|
|
$1,358 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
5.85 |
% |
|
|
to |
|
|
|
5.16 |
% |
| 2023 |
|
|
410 |
|
|
|
$4.76 |
|
|
|
to |
|
|
|
$5.32 |
|
|
|
$1,484 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
13.63 |
% |
|
|
to |
|
|
|
12.90 |
% |
| 2022 |
|
|
444 |
|
|
|
$4.19 |
|
|
|
to |
|
|
|
$4.71 |
|
|
|
$1,393 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(30.38 |
%) |
|
|
to |
|
|
|
(30.83 |
%) |
| 2021 |
|
|
491 |
|
|
|
$6.02 |
|
|
|
to |
|
|
|
$6.81 |
|
|
|
$2,211 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
1.02 |
% |
|
|
to |
|
|
|
0.36 |
% |
| 2020 |
|
|
555 |
|
|
|
$5.96 |
|
|
|
to |
|
|
|
$6.78 |
|
|
|
$2,478 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
44.78 |
% |
|
|
to |
|
|
|
43.85 |
% |
| MFS Research Intl, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
112 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$124 |
|
|
|
|
|
|
|
1.61 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
2.12 |
% |
|
|
to |
|
|
|
1.20 |
% |
| 2023 |
|
|
28 |
|
|
|
$1.08 |
|
|
|
to |
|
|
|
$1.07 |
|
|
|
$32 |
|
|
|
|
|
|
|
1.27 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
12.09 |
% |
|
|
to |
|
|
|
11.10 |
% |
| 2022 |
|
|
4 |
|
|
|
$0.97 |
|
|
|
to |
|
|
|
$0.96 |
|
|
|
$5 |
|
|
|
|
|
|
|
1.63 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(3.09 |
%)(7) |
|
|
to |
|
|
|
(3.66 |
%)(7) |
| MFS Utilities, Serv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,324 |
|
|
|
$5.08 |
|
|
|
to |
|
|
|
$1.74 |
|
|
|
$5,792 |
|
|
|
|
|
|
|
2.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.73 |
% |
|
|
to |
|
|
|
9.30 |
% |
| 2023 |
|
|
1,513 |
|
|
|
$4.59 |
|
|
|
to |
|
|
|
$1.59 |
|
|
|
$6,055 |
|
|
|
|
|
|
|
3.34 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.86 |
%) |
|
|
to |
|
|
|
(4.12 |
%) |
| 2022 |
|
|
1,416 |
|
|
|
$4.72 |
|
|
|
to |
|
|
|
$1.66 |
|
|
|
$5,905 |
|
|
|
|
|
|
|
2.22 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(0.07 |
%) |
|
|
to |
|
|
|
(1.36 |
%) |
| 2021 |
|
|
1,358 |
|
|
|
$4.72 |
|
|
|
to |
|
|
|
$1.68 |
|
|
|
$5,742 |
|
|
|
|
|
|
|
1.55 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.20 |
% |
|
|
to |
|
|
|
11.74 |
% |
| 2020 |
|
|
1,420 |
|
|
|
$4.17 |
|
|
|
to |
|
|
|
$1.50 |
|
|
|
$5,225 |
|
|
|
|
|
|
|
2.19 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.04 |
% |
|
|
to |
|
|
|
3.68 |
% |
| MS VIF Dis, Cl II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,017 |
|
|
|
$5.34 |
|
|
|
to |
|
|
|
$3.19 |
|
|
|
$5,246 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
40.95 |
% |
|
|
to |
|
|
|
39.12 |
% |
| 2023 |
|
|
1,076 |
|
|
|
$3.79 |
|
|
|
to |
|
|
|
$2.29 |
|
|
|
$3,998 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
43.34 |
% |
|
|
to |
|
|
|
41.50 |
% |
| 2022 |
|
|
1,012 |
|
|
|
$2.64 |
|
|
|
to |
|
|
|
$1.62 |
|
|
|
$2,615 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(63.17 |
%) |
|
|
to |
|
|
|
(63.65 |
%) |
| 2021 |
|
|
835 |
|
|
|
$7.18 |
|
|
|
to |
|
|
|
$4.46 |
|
|
|
$5,880 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(11.68 |
%) |
|
|
to |
|
|
|
(12.83 |
%) |
| 2020 |
|
|
700 |
|
|
|
$8.13 |
|
|
|
to |
|
|
|
$5.11 |
|
|
|
$5,636 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
150.66 |
% |
|
|
to |
|
|
|
147.43 |
% |
| NB AMT Sus Eq, Cl S |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
290 |
|
|
|
$1.47 |
|
|
|
to |
|
|
|
$3.07 |
|
|
|
$1,384 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
24.70 |
% |
|
|
to |
|
|
|
23.21 |
% |
| 2023 |
|
|
339 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$2.49 |
|
|
|
$1,303 |
|
|
|
|
|
|
|
0.08 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
25.75 |
% |
|
|
to |
|
|
|
24.26 |
% |
| 2022 |
|
|
323 |
|
|
|
$0.94 |
|
|
|
to |
|
|
|
$2.01 |
|
|
|
$995 |
|
|
|
|
|
|
|
0.12 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(6.56 |
%)(7) |
|
|
to |
|
|
|
(20.14 |
%) |
| 2021 |
|
|
296 |
|
|
|
$3.92 |
|
|
|
to |
|
|
|
$2.51 |
|
|
|
$1,130 |
|
|
|
|
|
|
|
0.19 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
22.12 |
% |
|
|
to |
|
|
|
20.90 |
% |
| 2020 |
|
|
203 |
|
|
|
$3.21 |
|
|
|
to |
|
|
|
$2.08 |
|
|
|
$636 |
|
|
|
|
|
|
|
0.36 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
18.27 |
% |
|
|
to |
|
|
|
17.09 |
% |
| PIMCO VIT All Asset, Advisor Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,347 |
|
|
|
$2.11 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$2,629 |
|
|
|
|
|
|
|
6.22 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.00 |
% |
|
|
to |
|
|
|
1.66 |
% |
| 2023 |
|
|
1,661 |
|
|
|
$2.04 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$3,147 |
|
|
|
|
|
|
|
2.84 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.41 |
% |
|
|
to |
|
|
|
6.04 |
% |
| 2022 |
|
|
1,796 |
|
|
|
$1.90 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$3,173 |
|
|
|
|
|
|
|
7.52 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(12.35 |
%) |
|
|
to |
|
|
|
(13.49 |
%) |
| 2021 |
|
|
2,042 |
|
|
|
$2.17 |
|
|
|
to |
|
|
|
$1.29 |
|
|
|
$4,146 |
|
|
|
|
|
|
|
10.88 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
15.41 |
% |
|
|
to |
|
|
|
13.91 |
% |
| 2020 |
|
|
2,152 |
|
|
|
$1.88 |
|
|
|
to |
|
|
|
$1.13 |
|
|
|
$3,804 |
|
|
|
|
|
|
|
4.83 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.32 |
% |
|
|
to |
|
|
|
5.93 |
% |
| PIMCO VIT Glb Man As Alloc, Adv Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
174 |
|
|
|
$1.63 |
|
|
|
to |
|
|
|
$1.35 |
|
|
|
$267 |
|
|
|
|
|
|
|
3.41 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.14 |
% |
|
|
to |
|
|
|
8.72 |
% |
| 2023 |
|
|
194 |
|
|
|
$1.48 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$272 |
|
|
|
|
|
|
|
2.13 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.24 |
% |
|
|
to |
|
|
|
10.79 |
% |
| 2022 |
|
|
221 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$278 |
|
|
|
|
|
|
|
1.80 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(18.84 |
%) |
|
|
to |
|
|
|
(19.88 |
%) |
| 2021 |
|
|
272 |
|
|
|
$1.63 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$422 |
|
|
|
|
|
|
|
2.37 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.98 |
% |
|
|
to |
|
|
|
10.53 |
% |
| 2020 |
|
|
229 |
|
|
|
$1.45 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$319 |
|
|
|
|
|
|
|
7.98 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.06 |
% |
|
|
to |
|
|
|
14.57 |
% |
|
|
|
|
|
| 142 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| PIMCO VIT Tot Return, Advisor Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
7,862 |
|
|
|
$1.09 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$8,111 |
|
|
|
|
|
|
|
3.92 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
1.87 |
% |
|
|
to |
|
|
|
0.55 |
% |
| 2023 |
|
|
7,250 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$7,369 |
|
|
|
|
|
|
|
3.48 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.25 |
% |
|
|
to |
|
|
|
3.89 |
% |
| 2022 |
|
|
6,351 |
|
|
|
$1.02 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$6,166 |
|
|
|
|
|
|
|
2.53 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(14.85 |
%) |
|
|
to |
|
|
|
(15.95 |
%) |
| 2021 |
|
|
5,837 |
|
|
|
$1.19 |
|
|
|
to |
|
|
|
$1.07 |
|
|
|
$6,676 |
|
|
|
|
|
|
|
1.73 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.91 |
%) |
|
|
to |
|
|
|
(3.17 |
%) |
| 2020 |
|
|
4,922 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$5,772 |
|
|
|
|
|
|
|
1.99 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.94 |
% |
|
|
to |
|
|
|
6.56 |
% |
| Put VT Global Hlth Care, Cl IB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
456 |
|
|
|
$5.26 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$1,300 |
|
|
|
|
|
|
|
0.47 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
0.87 |
% |
|
|
to |
|
|
|
(0.16 |
%) |
| 2023 |
|
|
390 |
|
|
|
$5.21 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$1,336 |
|
|
|
|
|
|
|
0.29 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
8.53 |
% |
|
|
to |
|
|
|
7.47 |
% |
| 2022 |
|
|
291 |
|
|
|
$4.80 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$1,191 |
|
|
|
|
|
|
|
0.41 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(5.20 |
%) |
|
|
to |
|
|
|
2.06 |
%(7) |
| 2021 |
|
|
291 |
|
|
|
$5.07 |
|
|
|
to |
|
|
|
$5.14 |
|
|
|
$1,331 |
|
|
|
|
|
|
|
1.09 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
18.74 |
% |
|
|
to |
|
|
|
17.98 |
% |
| 2020 |
|
|
313 |
|
|
|
$4.27 |
|
|
|
to |
|
|
|
$4.36 |
|
|
|
$1,215 |
|
|
|
|
|
|
|
0.49 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
15.65 |
% |
|
|
to |
|
|
|
14.89 |
% |
| Put VT Intl Eq, Cl IB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
171 |
|
|
|
$2.17 |
|
|
|
to |
|
|
|
$2.61 |
|
|
|
$389 |
|
|
|
|
|
|
|
2.26 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
2.41 |
% |
|
|
to |
|
|
|
1.74 |
% |
| 2023 |
|
|
201 |
|
|
|
$2.12 |
|
|
|
to |
|
|
|
$2.56 |
|
|
|
$448 |
|
|
|
|
|
|
|
0.04 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
17.86 |
% |
|
|
to |
|
|
|
17.10 |
% |
| 2022 |
|
|
205 |
|
|
|
$1.80 |
|
|
|
to |
|
|
|
$2.19 |
|
|
|
$389 |
|
|
|
|
|
|
|
1.63 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
(15.23 |
%) |
|
|
to |
|
|
|
(15.79 |
%) |
| 2021 |
|
|
264 |
|
|
|
$2.12 |
|
|
|
to |
|
|
|
$2.60 |
|
|
|
$592 |
|
|
|
|
|
|
|
1.16 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
8.23 |
% |
|
|
to |
|
|
|
7.52 |
% |
| 2020 |
|
|
270 |
|
|
|
$1.96 |
|
|
|
to |
|
|
|
$2.42 |
|
|
|
$560 |
|
|
|
|
|
|
|
1.58 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
11.48 |
% |
|
|
to |
|
|
|
10.76 |
% |
| Put VT Intl Val, Cl IB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
109 |
|
|
|
$1.25 |
|
|
|
to |
|
|
|
$1.22 |
|
|
|
$136 |
|
|
|
|
|
|
|
1.95 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
4.52 |
% |
|
|
to |
|
|
|
3.59 |
% |
| 2023 |
|
|
25 |
|
|
|
$1.20 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$31 |
|
|
|
|
|
|
|
1.17 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
17.91 |
% |
|
|
to |
|
|
|
16.87 |
% |
| 2022 |
|
|
12 |
|
|
|
$1.02 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$13 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
1.80 |
%(7) |
|
|
to |
|
|
|
1.19 |
%(7) |
| Put VT Lg Cap Val, Cl IB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
920 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.34 |
|
|
|
$1,248 |
|
|
|
|
|
|
|
0.87 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
18.36 |
% |
|
|
to |
|
|
|
17.29 |
% |
| 2023 |
|
|
519 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$598 |
|
|
|
|
|
|
|
1.60 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
14.91 |
% |
|
|
to |
|
|
|
13.90 |
% |
| 2022 |
|
|
86 |
|
|
|
$1.01 |
|
|
|
to |
|
|
|
$1.00 |
|
|
|
$89 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
0.54 |
%(7) |
|
|
to |
|
|
|
(0.06 |
%)(7) |
| Put VT Sus Fut, Cl IB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
18 |
|
|
|
$1.28 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$24 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
14.14 |
% |
|
|
to |
|
|
|
13.11 |
% |
| 2023 |
|
|
9 |
|
|
|
$1.12 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$12 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
27.69 |
% |
|
|
to |
|
|
|
26.55 |
% |
| 2022 |
|
|
7 |
|
|
|
$0.88 |
|
|
|
to |
|
|
|
$0.87 |
|
|
|
$8 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(12.79 |
%)(7) |
|
|
to |
|
|
|
(13.31 |
%)(7) |
| Put VT Sus Leaders, Cl IA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,052 |
|
|
|
$7.08 |
|
|
|
to |
|
|
|
$7.08 |
|
|
|
$7,499 |
|
|
|
|
|
|
|
0.38 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
21.79 |
% |
|
|
to |
|
|
|
21.79 |
% |
| 2023 |
|
|
1,143 |
|
|
|
$5.81 |
|
|
|
to |
|
|
|
$5.81 |
|
|
|
$6,690 |
|
|
|
|
|
|
|
0.75 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
24.85 |
% |
|
|
to |
|
|
|
24.85 |
% |
| 2022 |
|
|
1,302 |
|
|
|
$4.66 |
|
|
|
to |
|
|
|
$4.66 |
|
|
|
$6,061 |
|
|
|
|
|
|
|
0.83 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
(23.68 |
%) |
|
|
to |
|
|
|
(23.68 |
%) |
| 2021 |
|
|
1,365 |
|
|
|
$6.10 |
|
|
|
to |
|
|
|
$6.10 |
|
|
|
$8,337 |
|
|
|
|
|
|
|
0.34 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
22.30 |
% |
|
|
to |
|
|
|
22.30 |
% |
| 2020 |
|
|
1,518 |
|
|
|
$4.99 |
|
|
|
to |
|
|
|
$4.99 |
|
|
|
$7,581 |
|
|
|
|
|
|
|
0.63 |
% |
|
|
1.25 |
% |
|
|
to |
|
|
|
1.25 |
% |
|
|
27.46 |
% |
|
|
to |
|
|
|
27.46 |
% |
| Put VT Sus Leaders, Cl IB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
125 |
|
|
|
$6.38 |
|
|
|
to |
|
|
|
$1.39 |
|
|
|
$743 |
|
|
|
|
|
|
|
0.20 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
22.34 |
% |
|
|
to |
|
|
|
21.12 |
% |
| 2023 |
|
|
190 |
|
|
|
$5.22 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$930 |
|
|
|
|
|
|
|
0.52 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
25.42 |
% |
|
|
to |
|
|
|
24.17 |
% |
| 2022 |
|
|
211 |
|
|
|
$4.16 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$828 |
|
|
|
|
|
|
|
0.55 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(23.33 |
%) |
|
|
to |
|
|
|
(7.80 |
%)(7) |
| 2021 |
|
|
212 |
|
|
|
$5.43 |
|
|
|
to |
|
|
|
$5.04 |
|
|
|
$1,112 |
|
|
|
|
|
|
|
0.14 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
22.85 |
% |
|
|
to |
|
|
|
22.06 |
% |
| 2020 |
|
|
257 |
|
|
|
$4.42 |
|
|
|
to |
|
|
|
$4.13 |
|
|
|
$1,101 |
|
|
|
|
|
|
|
0.41 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.20 |
% |
|
|
28.19 |
% |
|
|
to |
|
|
|
27.36 |
% |
| Royce Micro-Cap, Invest Cl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
62 |
|
|
|
$5.78 |
|
|
|
to |
|
|
|
$5.51 |
|
|
|
$346 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
12.82 |
% |
|
|
to |
|
|
|
12.59 |
% |
| 2023 |
|
|
65 |
|
|
|
$5.12 |
|
|
|
to |
|
|
|
$4.89 |
|
|
|
$319 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
17.90 |
% |
|
|
to |
|
|
|
17.66 |
% |
| 2022 |
|
|
68 |
|
|
|
$4.34 |
|
|
|
to |
|
|
|
$4.16 |
|
|
|
$286 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(23.01 |
%) |
|
|
to |
|
|
|
(23.17 |
%) |
| 2021 |
|
|
69 |
|
|
|
$5.64 |
|
|
|
to |
|
|
|
$5.41 |
|
|
|
$377 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
29.01 |
% |
|
|
to |
|
|
|
28.75 |
% |
| 2020 |
|
|
73 |
|
|
|
$4.37 |
|
|
|
to |
|
|
|
$4.20 |
|
|
|
$309 |
|
|
|
|
|
|
|
— |
|
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
22.87 |
% |
|
|
to |
|
|
|
22.62 |
% |
| Temp Global Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,535 |
|
|
|
$0.77 |
|
|
|
to |
|
|
|
$0.66 |
|
|
|
$1,108 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(11.86 |
%) |
|
|
to |
|
|
|
(13.01 |
%) |
| 2023 |
|
|
1,569 |
|
|
|
$0.87 |
|
|
|
to |
|
|
|
$0.76 |
|
|
|
$1,290 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.32 |
% |
|
|
to |
|
|
|
1.00 |
% |
| 2022 |
|
|
1,593 |
|
|
|
$0.85 |
|
|
|
to |
|
|
|
$0.75 |
|
|
|
$1,288 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.47 |
%) |
|
|
to |
|
|
|
(6.69 |
%) |
| 2021 |
|
|
1,817 |
|
|
|
$0.90 |
|
|
|
to |
|
|
|
$0.80 |
|
|
|
$1,563 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.51 |
%) |
|
|
to |
|
|
|
(6.74 |
%) |
| 2020 |
|
|
1,739 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.86 |
|
|
|
$1,593 |
|
|
|
|
|
|
|
8.65 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.79 |
%) |
|
|
to |
|
|
|
(7.02 |
%) |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
143 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| Third Ave VST Third Ave Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
129 |
|
|
|
$4.00 |
|
|
|
to |
|
|
|
$3.81 |
|
|
|
$499 |
|
|
|
|
|
|
|
2.51 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(3.00 |
%) |
|
|
to |
|
|
|
(3.20 |
%) |
| 2023 |
|
|
134 |
|
|
|
$4.13 |
|
|
|
to |
|
|
|
$3.94 |
|
|
|
$535 |
|
|
|
|
|
|
|
2.39 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
19.91 |
% |
|
|
to |
|
|
|
19.67 |
% |
| 2022 |
|
|
138 |
|
|
|
$3.44 |
|
|
|
to |
|
|
|
$3.29 |
|
|
|
$460 |
|
|
|
|
|
|
|
1.51 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
15.24 |
% |
|
|
to |
|
|
|
15.01 |
% |
| 2021 |
|
|
152 |
|
|
|
$2.99 |
|
|
|
to |
|
|
|
$2.86 |
|
|
|
$440 |
|
|
|
|
|
|
|
0.69 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
21.15 |
% |
|
|
to |
|
|
|
20.91 |
% |
| 2020 |
|
|
170 |
|
|
|
$2.46 |
|
|
|
to |
|
|
|
$2.37 |
|
|
|
$408 |
|
|
|
|
|
|
|
2.73 |
% |
|
|
0.75 |
% |
|
|
to |
|
|
|
0.95 |
% |
|
|
(3.12 |
%) |
|
|
to |
|
|
|
(3.32 |
%) |
| VanEck VIP Global Gold, Cl S |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
939 |
|
|
|
$1.30 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$1,146 |
|
|
|
|
|
|
|
3.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.78 |
% |
|
|
to |
|
|
|
12.30 |
% |
| 2023 |
|
|
879 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$948 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.80 |
% |
|
|
to |
|
|
|
8.39 |
% |
| 2022 |
|
|
919 |
|
|
|
$1.04 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$912 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(13.83 |
%) |
|
|
to |
|
|
|
(14.95 |
%) |
| 2021 |
|
|
870 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$1,007 |
|
|
|
|
|
|
|
12.12 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(14.48 |
%) |
|
|
to |
|
|
|
(15.59 |
%) |
| 2020 |
|
|
824 |
|
|
|
$1.41 |
|
|
|
to |
|
|
|
$1.28 |
|
|
|
$1,121 |
|
|
|
|
|
|
|
2.77 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
37.87 |
% |
|
|
to |
|
|
|
36.09 |
% |
| VP Aggr, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
14,846 |
|
|
|
$2.94 |
|
|
|
to |
|
|
|
$1.91 |
|
|
|
$40,689 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.57 |
% |
|
|
to |
|
|
|
11.11 |
% |
| 2023 |
|
|
15,686 |
|
|
|
$2.61 |
|
|
|
to |
|
|
|
$1.72 |
|
|
|
$38,376 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.58 |
% |
|
|
to |
|
|
|
15.08 |
% |
| 2022 |
|
|
16,718 |
|
|
|
$2.24 |
|
|
|
to |
|
|
|
$1.50 |
|
|
|
$35,279 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(18.63 |
%) |
|
|
to |
|
|
|
(19.68 |
%) |
| 2021 |
|
|
16,955 |
|
|
|
$2.75 |
|
|
|
to |
|
|
|
$1.86 |
|
|
|
$44,160 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
15.12 |
% |
|
|
to |
|
|
|
13.64 |
% |
| 2020 |
|
|
18,239 |
|
|
|
$2.39 |
|
|
|
to |
|
|
|
$1.64 |
|
|
|
$41,514 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.36 |
% |
|
|
to |
|
|
|
12.88 |
% |
| VP Aggr, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
13,177 |
|
|
|
$2.94 |
|
|
|
to |
|
|
|
$2.57 |
|
|
|
$36,645 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.59 |
% |
|
|
to |
|
|
|
11.58 |
% |
| 2023 |
|
|
14,522 |
|
|
|
$2.61 |
|
|
|
to |
|
|
|
$2.31 |
|
|
|
$36,000 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
16.55 |
% |
|
|
to |
|
|
|
15.51 |
% |
| 2022 |
|
|
15,642 |
|
|
|
$2.24 |
|
|
|
to |
|
|
|
$2.00 |
|
|
|
$33,390 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(18.64 |
%) |
|
|
to |
|
|
|
(19.36 |
%) |
| 2021 |
|
|
18,122 |
|
|
|
$2.75 |
|
|
|
to |
|
|
|
$2.48 |
|
|
|
$47,715 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
15.14 |
% |
|
|
to |
|
|
|
14.11 |
% |
| 2020 |
|
|
19,366 |
|
|
|
$2.39 |
|
|
|
to |
|
|
|
$2.17 |
|
|
|
$44,453 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
14.33 |
% |
|
|
to |
|
|
|
13.30 |
% |
| VP Conserv, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
16,733 |
|
|
|
$1.48 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$23,059 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.85 |
% |
|
|
to |
|
|
|
2.50 |
% |
| 2023 |
|
|
18,854 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$1.06 |
|
|
|
$25,120 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.87 |
% |
|
|
to |
|
|
|
6.48 |
% |
| 2022 |
|
|
21,163 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$26,274 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.01 |
%) |
|
|
to |
|
|
|
(17.09 |
%) |
| 2021 |
|
|
22,117 |
|
|
|
$1.57 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$32,802 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.25 |
% |
|
|
to |
|
|
|
0.93 |
% |
| 2020 |
|
|
25,323 |
|
|
|
$1.54 |
|
|
|
to |
|
|
|
$1.19 |
|
|
|
$36,941 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.70 |
% |
|
|
to |
|
|
|
7.30 |
% |
| VP Conserv, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
14,260 |
|
|
|
$1.48 |
|
|
|
to |
|
|
|
$1.30 |
|
|
|
$19,724 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.91 |
% |
|
|
to |
|
|
|
2.98 |
% |
| 2023 |
|
|
15,567 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$20,855 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
7.80 |
% |
|
|
to |
|
|
|
6.84 |
% |
| 2022 |
|
|
17,532 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$21,890 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(15.96 |
%) |
|
|
to |
|
|
|
(16.71 |
%) |
| 2021 |
|
|
16,983 |
|
|
|
$1.57 |
|
|
|
to |
|
|
|
$1.42 |
|
|
|
$25,375 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
2.25 |
% |
|
|
to |
|
|
|
1.34 |
% |
| 2020 |
|
|
20,061 |
|
|
|
$1.54 |
|
|
|
to |
|
|
|
$1.40 |
|
|
|
$29,429 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.64 |
% |
|
|
to |
|
|
|
7.66 |
% |
| VP Man Risk, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
7,274 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.21 |
|
|
|
$9,351 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.81 |
% |
|
|
to |
|
|
|
7.40 |
% |
| 2023 |
|
|
7,809 |
|
|
|
$1.22 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$9,266 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.64 |
% |
|
|
to |
|
|
|
10.20 |
% |
| 2022 |
|
|
8,136 |
|
|
|
$1.09 |
|
|
|
to |
|
|
|
$1.02 |
|
|
|
$8,685 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.84 |
%) |
|
|
to |
|
|
|
(18.90 |
%) |
| 2021 |
|
|
8,335 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.26 |
|
|
|
$10,877 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.12 |
% |
|
|
to |
|
|
|
8.69 |
% |
| 2020 |
|
|
8,161 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$9,715 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.20 |
% |
|
|
to |
|
|
|
5.82 |
% |
| VP Man Risk US, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
22,938 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$33,562 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.09 |
% |
|
|
to |
|
|
|
9.64 |
% |
| 2023 |
|
|
23,790 |
|
|
|
$1.36 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$31,480 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.92 |
% |
|
|
to |
|
|
|
12.45 |
% |
| 2022 |
|
|
24,762 |
|
|
|
$1.19 |
|
|
|
to |
|
|
|
$1.12 |
|
|
|
$28,892 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.67 |
%) |
|
|
to |
|
|
|
(18.73 |
%) |
| 2021 |
|
|
25,436 |
|
|
|
$1.45 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$36,209 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.72 |
% |
|
|
to |
|
|
|
11.26 |
% |
| 2020 |
|
|
15,892 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.23 |
|
|
|
$20,146 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.19 |
% |
|
|
to |
|
|
|
7.78 |
% |
| VP Man Vol Conserv, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
26,351 |
|
|
|
$1.24 |
|
|
|
to |
|
|
|
$1.07 |
|
|
|
$31,134 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.74 |
% |
|
|
to |
|
|
|
2.39 |
% |
| 2023 |
|
|
34,408 |
|
|
|
$1.19 |
|
|
|
to |
|
|
|
$1.05 |
|
|
|
$39,368 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.28 |
% |
|
|
to |
|
|
|
5.89 |
% |
| 2022 |
|
|
39,570 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$42,398 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.45 |
%) |
|
|
to |
|
|
|
(17.53 |
%) |
| 2021 |
|
|
33,416 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$43,039 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
2.06 |
% |
|
|
to |
|
|
|
0.74 |
% |
| 2020 |
|
|
41,732 |
|
|
|
$1.30 |
|
|
|
to |
|
|
|
$1.19 |
|
|
|
$52,930 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.53 |
% |
|
|
to |
|
|
|
6.14 |
% |
|
|
|
|
|
| 144 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| VP Man Vol Conserv Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
55,075 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.22 |
|
|
|
$73,922 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.22 |
% |
|
|
to |
|
|
|
4.83 |
% |
| 2023 |
|
|
59,027 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$74,788 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.37 |
% |
|
|
to |
|
|
|
7.97 |
% |
| 2022 |
|
|
69,475 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$1.08 |
|
|
|
$80,818 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.52 |
%) |
|
|
to |
|
|
|
(18.58 |
%) |
| 2021 |
|
|
78,230 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$1.32 |
|
|
|
$110,899 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.88 |
% |
|
|
to |
|
|
|
3.52 |
% |
| 2020 |
|
|
78,589 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.28 |
|
|
|
$106,710 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.55 |
% |
|
|
to |
|
|
|
7.15 |
% |
| VP Man Vol Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
342,065 |
|
|
|
$1.68 |
|
|
|
to |
|
|
|
$1.56 |
|
|
|
$588,197 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.36 |
% |
|
|
to |
|
|
|
9.91 |
% |
| 2023 |
|
|
377,075 |
|
|
|
$1.51 |
|
|
|
to |
|
|
|
$1.42 |
|
|
|
$584,260 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.96 |
% |
|
|
to |
|
|
|
12.50 |
% |
| 2022 |
|
|
399,972 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.27 |
|
|
|
$545,865 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(19.87 |
%) |
|
|
to |
|
|
|
(20.91 |
%) |
| 2021 |
|
|
416,960 |
|
|
|
$1.65 |
|
|
|
to |
|
|
|
$1.60 |
|
|
|
$713,185 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.28 |
% |
|
|
to |
|
|
|
9.84 |
% |
| 2020 |
|
|
421,538 |
|
|
|
$1.48 |
|
|
|
to |
|
|
|
$1.46 |
|
|
|
$650,069 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.69 |
% |
|
|
to |
|
|
|
9.26 |
% |
| VP Man Vol Mod Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
494,610 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.39 |
|
|
|
$798,510 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.81 |
% |
|
|
to |
|
|
|
7.39 |
% |
| 2023 |
|
|
558,175 |
|
|
|
$1.41 |
|
|
|
to |
|
|
|
$1.29 |
|
|
|
$828,769 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.66 |
% |
|
|
to |
|
|
|
10.22 |
% |
| 2022 |
|
|
616,104 |
|
|
|
$1.26 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$820,314 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(18.60 |
%) |
|
|
to |
|
|
|
(19.65 |
%) |
| 2021 |
|
|
663,538 |
|
|
|
$1.55 |
|
|
|
to |
|
|
|
$1.46 |
|
|
|
$1,089,495 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.10 |
% |
|
|
to |
|
|
|
6.71 |
% |
| 2020 |
|
|
690,902 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$1,053,891 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.77 |
% |
|
|
to |
|
|
|
8.35 |
% |
| VP Mod, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
205,566 |
|
|
|
$2.15 |
|
|
|
to |
|
|
|
$1.46 |
|
|
|
$412,750 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.12 |
% |
|
|
to |
|
|
|
6.72 |
% |
| 2023 |
|
|
219,564 |
|
|
|
$1.99 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$409,453 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.34 |
% |
|
|
to |
|
|
|
10.90 |
% |
| 2022 |
|
|
236,316 |
|
|
|
$1.77 |
|
|
|
to |
|
|
|
$1.23 |
|
|
|
$394,023 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.06 |
%) |
|
|
to |
|
|
|
(18.14 |
%) |
| 2021 |
|
|
248,772 |
|
|
|
$2.13 |
|
|
|
to |
|
|
|
$1.51 |
|
|
|
$502,487 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.41 |
% |
|
|
to |
|
|
|
7.01 |
% |
| 2020 |
|
|
257,626 |
|
|
|
$1.97 |
|
|
|
to |
|
|
|
$1.41 |
|
|
|
$482,331 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.25 |
% |
|
|
to |
|
|
|
10.80 |
% |
| VP Mod, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
149,082 |
|
|
|
$2.15 |
|
|
|
to |
|
|
|
$1.89 |
|
|
|
$302,511 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.11 |
% |
|
|
to |
|
|
|
7.14 |
% |
| 2023 |
|
|
170,269 |
|
|
|
$1.99 |
|
|
|
to |
|
|
|
$1.76 |
|
|
|
$320,952 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.32 |
% |
|
|
to |
|
|
|
11.32 |
% |
| 2022 |
|
|
191,236 |
|
|
|
$1.77 |
|
|
|
to |
|
|
|
$1.58 |
|
|
|
$322,209 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(17.04 |
%) |
|
|
to |
|
|
|
(17.78 |
%) |
| 2021 |
|
|
212,114 |
|
|
|
$2.14 |
|
|
|
to |
|
|
|
$1.92 |
|
|
|
$432,673 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.45 |
% |
|
|
to |
|
|
|
7.47 |
% |
| 2020 |
|
|
241,282 |
|
|
|
$1.97 |
|
|
|
to |
|
|
|
$1.79 |
|
|
|
$455,609 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
12.17 |
% |
|
|
to |
|
|
|
11.17 |
% |
| VP Mod Aggr, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
65,233 |
|
|
|
$2.51 |
|
|
|
to |
|
|
|
$1.67 |
|
|
|
$153,249 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.39 |
% |
|
|
to |
|
|
|
8.95 |
% |
| 2023 |
|
|
70,068 |
|
|
|
$2.28 |
|
|
|
to |
|
|
|
$1.53 |
|
|
|
$149,960 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.31 |
% |
|
|
to |
|
|
|
12.83 |
% |
| 2022 |
|
|
74,605 |
|
|
|
$1.99 |
|
|
|
to |
|
|
|
$1.36 |
|
|
|
$140,345 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(18.04 |
%) |
|
|
to |
|
|
|
(19.10 |
%) |
| 2021 |
|
|
82,152 |
|
|
|
$2.43 |
|
|
|
to |
|
|
|
$1.68 |
|
|
|
$189,530 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
11.69 |
% |
|
|
to |
|
|
|
10.25 |
% |
| 2020 |
|
|
91,524 |
|
|
|
$2.18 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$190,173 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.41 |
% |
|
|
to |
|
|
|
11.94 |
% |
| VP Mod Aggr, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
35,191 |
|
|
|
$2.52 |
|
|
|
to |
|
|
|
$2.20 |
|
|
|
$83,665 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
10.37 |
% |
|
|
to |
|
|
|
9.37 |
% |
| 2023 |
|
|
42,045 |
|
|
|
$2.28 |
|
|
|
to |
|
|
|
$2.02 |
|
|
|
$90,878 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
14.28 |
% |
|
|
to |
|
|
|
13.26 |
% |
| 2022 |
|
|
48,592 |
|
|
|
$2.00 |
|
|
|
to |
|
|
|
$1.78 |
|
|
|
$92,293 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(18.02 |
%) |
|
|
to |
|
|
|
(18.75 |
%) |
| 2021 |
|
|
54,164 |
|
|
|
$2.43 |
|
|
|
to |
|
|
|
$2.19 |
|
|
|
$125,938 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
11.72 |
% |
|
|
to |
|
|
|
10.72 |
% |
| 2020 |
|
|
63,210 |
|
|
|
$2.18 |
|
|
|
to |
|
|
|
$1.98 |
|
|
|
$132,160 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
13.39 |
% |
|
|
to |
|
|
|
12.37 |
% |
| VP Mod Conserv, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
35,895 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$59,422 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.82 |
% |
|
|
to |
|
|
|
4.45 |
% |
| 2023 |
|
|
41,353 |
|
|
|
$1.68 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$64,998 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.90 |
% |
|
|
to |
|
|
|
8.48 |
% |
| 2022 |
|
|
45,491 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.11 |
|
|
|
$65,321 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(16.55 |
%) |
|
|
to |
|
|
|
(17.62 |
%) |
| 2021 |
|
|
52,311 |
|
|
|
$1.83 |
|
|
|
to |
|
|
|
$1.34 |
|
|
|
$90,527 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.16 |
% |
|
|
to |
|
|
|
3.80 |
% |
| 2020 |
|
|
57,730 |
|
|
|
$1.74 |
|
|
|
to |
|
|
|
$1.29 |
|
|
|
$95,549 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.40 |
% |
|
|
to |
|
|
|
8.97 |
% |
| VP Mod Conserv, Cl 4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
28,574 |
|
|
|
$1.78 |
|
|
|
to |
|
|
|
$1.56 |
|
|
|
$47,807 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.81 |
% |
|
|
to |
|
|
|
4.86 |
% |
| 2023 |
|
|
33,387 |
|
|
|
$1.68 |
|
|
|
to |
|
|
|
$1.49 |
|
|
|
$53,039 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
9.88 |
% |
|
|
to |
|
|
|
8.90 |
% |
| 2022 |
|
|
39,603 |
|
|
|
$1.53 |
|
|
|
to |
|
|
|
$1.36 |
|
|
|
$57,450 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(16.56 |
%) |
|
|
to |
|
|
|
(17.31 |
%) |
| 2021 |
|
|
45,021 |
|
|
|
$1.83 |
|
|
|
to |
|
|
|
$1.65 |
|
|
|
$78,614 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
5.21 |
% |
|
|
to |
|
|
|
4.26 |
% |
| 2020 |
|
|
51,624 |
|
|
|
$1.74 |
|
|
|
to |
|
|
|
$1.58 |
|
|
|
$86,036 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
10.38 |
% |
|
|
to |
|
|
|
9.39 |
% |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
145 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| VP Ptnrs Core Bond, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,358 |
|
|
|
$1.02 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$1,536 |
|
|
|
|
|
|
|
3.42 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
1.35 |
% |
|
|
to |
|
|
|
0.14 |
% |
| 2023 |
|
|
1,280 |
|
|
|
$1.00 |
|
|
|
to |
|
|
|
$0.94 |
|
|
|
$1,434 |
|
|
|
|
|
|
|
2.57 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.37 |
% |
|
|
to |
|
|
|
4.12 |
% |
| 2022 |
|
|
1,129 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$1,204 |
|
|
|
|
|
|
|
1.48 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.38 |
%)(7) |
|
|
to |
|
|
|
(15.18 |
%) |
| 2021 |
|
|
880 |
|
|
|
$1.28 |
|
|
|
to |
|
|
|
$1.06 |
|
|
|
$1,093 |
|
|
|
|
|
|
|
1.20 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.25 |
%) |
|
|
to |
|
|
|
(3.23 |
%) |
| 2020 |
|
|
722 |
|
|
|
$1.31 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$914 |
|
|
|
|
|
|
|
1.88 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.05 |
% |
|
|
to |
|
|
|
5.98 |
% |
| VP Ptnrs Core Eq, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
324 |
|
|
|
$1.43 |
|
|
|
to |
|
|
|
$2.97 |
|
|
|
$903 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
22.30 |
% |
|
|
to |
|
|
|
20.83 |
% |
| 2023 |
|
|
316 |
|
|
|
$1.17 |
|
|
|
to |
|
|
|
$2.46 |
|
|
|
$683 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
23.63 |
% |
|
|
to |
|
|
|
22.16 |
% |
| 2022 |
|
|
273 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$2.01 |
|
|
|
$403 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(5.67 |
%)(7) |
|
|
to |
|
|
|
(19.06 |
%) |
| 2021 |
|
|
81 |
|
|
|
$3.73 |
|
|
|
to |
|
|
|
$2.48 |
|
|
|
$291 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
28.09 |
% |
|
|
to |
|
|
|
26.81 |
% |
| 2020 |
|
|
88 |
|
|
|
$2.91 |
|
|
|
to |
|
|
|
$1.96 |
|
|
|
$246 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
15.74 |
% |
|
|
to |
|
|
|
14.59 |
% |
| VP Ptnrs Core Eq, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
317 |
|
|
|
$4.16 |
|
|
|
to |
|
|
|
$3.62 |
|
|
|
$1,240 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
22.58 |
% |
|
|
to |
|
|
|
21.48 |
% |
| 2023 |
|
|
377 |
|
|
|
$3.39 |
|
|
|
to |
|
|
|
$2.98 |
|
|
|
$1,209 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.87 |
% |
|
|
to |
|
|
|
22.76 |
% |
| 2022 |
|
|
474 |
|
|
|
$2.74 |
|
|
|
to |
|
|
|
$2.43 |
|
|
|
$1,231 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(17.89 |
%) |
|
|
to |
|
|
|
(18.62 |
%) |
| 2021 |
|
|
530 |
|
|
|
$3.33 |
|
|
|
to |
|
|
|
$2.98 |
|
|
|
$1,686 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
28.63 |
% |
|
|
to |
|
|
|
27.48 |
% |
| 2020 |
|
|
640 |
|
|
|
$2.59 |
|
|
|
to |
|
|
|
$2.34 |
|
|
|
$1,593 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
16.20 |
% |
|
|
to |
|
|
|
15.16 |
% |
| VP Ptnrs Intl Core Eq, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,056 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$1,802 |
|
|
|
|
|
|
|
0.97 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.89 |
% |
|
|
to |
|
|
|
3.63 |
% |
| 2023 |
|
|
777 |
|
|
|
$1.11 |
|
|
|
to |
|
|
|
$1.19 |
|
|
|
$1,290 |
|
|
|
|
|
|
|
1.07 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.59 |
% |
|
|
to |
|
|
|
15.20 |
% |
| 2022 |
|
|
623 |
|
|
|
$0.95 |
|
|
|
to |
|
|
|
$1.04 |
|
|
|
$893 |
|
|
|
|
|
|
|
1.69 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.64 |
%)(7) |
|
|
to |
|
|
|
(21.11 |
%) |
| 2021 |
|
|
450 |
|
|
|
$1.84 |
|
|
|
to |
|
|
|
$1.31 |
|
|
|
$811 |
|
|
|
|
|
|
|
1.56 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.22 |
% |
|
|
to |
|
|
|
11.10 |
% |
| 2020 |
|
|
242 |
|
|
|
$1.64 |
|
|
|
to |
|
|
|
$1.18 |
|
|
|
$389 |
|
|
|
|
|
|
|
0.20 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.02 |
% |
|
|
to |
|
|
|
8.92 |
% |
| VP Ptnrs Intl Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,358 |
|
|
|
$1.03 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$2,322 |
|
|
|
|
|
|
|
0.45 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(2.06 |
%) |
|
|
to |
|
|
|
(3.22 |
%) |
| 2023 |
|
|
1,305 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$1.28 |
|
|
|
$2,302 |
|
|
|
|
|
|
|
0.24 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.72 |
% |
|
|
to |
|
|
|
12.36 |
% |
| 2022 |
|
|
1,292 |
|
|
|
$0.93 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$2,010 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(6.74 |
%)(7) |
|
|
to |
|
|
|
(28.21 |
%) |
| 2021 |
|
|
1,278 |
|
|
|
$2.21 |
|
|
|
to |
|
|
|
$1.59 |
|
|
|
$2,746 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.40 |
% |
|
|
to |
|
|
|
8.31 |
% |
| 2020 |
|
|
1,007 |
|
|
|
$2.02 |
|
|
|
to |
|
|
|
$1.47 |
|
|
|
$1,985 |
|
|
|
|
|
|
|
0.09 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
21.26 |
% |
|
|
to |
|
|
|
20.05 |
% |
| VP Ptnrs Intl Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,013 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$1.17 |
|
|
|
$1,432 |
|
|
|
|
|
|
|
2.69 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.63 |
% |
|
|
to |
|
|
|
2.38 |
% |
| 2023 |
|
|
1,245 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$1,703 |
|
|
|
|
|
|
|
1.91 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.21 |
% |
|
|
to |
|
|
|
14.83 |
% |
| 2022 |
|
|
1,270 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$0.99 |
|
|
|
$1,500 |
|
|
|
|
|
|
|
2.10 |
% |
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(1.67 |
%)(7) |
|
|
to |
|
|
|
(13.37 |
%) |
| 2021 |
|
|
1,093 |
|
|
|
$1.39 |
|
|
|
to |
|
|
|
$1.15 |
|
|
|
$1,479 |
|
|
|
|
|
|
|
1.97 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.69 |
% |
|
|
to |
|
|
|
9.60 |
% |
| 2020 |
|
|
846 |
|
|
|
$1.26 |
|
|
|
to |
|
|
|
$1.05 |
|
|
|
$1,041 |
|
|
|
|
|
|
|
0.74 |
% |
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.95 |
%) |
|
|
to |
|
|
|
(5.89 |
%) |
| VP Ptnrs Sm Cap Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
565 |
|
|
|
$1.16 |
|
|
|
to |
|
|
|
$1.85 |
|
|
|
$1,781 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
17.93 |
% |
|
|
to |
|
|
|
16.52 |
% |
| 2023 |
|
|
643 |
|
|
|
$0.98 |
|
|
|
to |
|
|
|
$1.59 |
|
|
|
$1,723 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.24 |
% |
|
|
to |
|
|
|
4.98 |
% |
| 2022 |
|
|
565 |
|
|
|
$0.92 |
|
|
|
to |
|
|
|
$1.52 |
|
|
|
$1,424 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(9.37 |
%)(7) |
|
|
to |
|
|
|
(30.43 |
%) |
| 2021 |
|
|
453 |
|
|
|
$3.71 |
|
|
|
to |
|
|
|
$2.18 |
|
|
|
$1,623 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.11 |
% |
|
|
to |
|
|
|
6.04 |
% |
| 2020 |
|
|
475 |
|
|
|
$3.46 |
|
|
|
to |
|
|
|
$2.05 |
|
|
|
$1,591 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
37.26 |
% |
|
|
to |
|
|
|
35.90 |
% |
| VP Ptnrs Sm Cap Val, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
339 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.65 |
|
|
|
$896 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
7.00 |
% |
|
|
to |
|
|
|
5.72 |
% |
| 2023 |
|
|
388 |
|
|
|
$1.06 |
|
|
|
to |
|
|
|
$1.56 |
|
|
|
$960 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.37 |
% |
|
|
to |
|
|
|
9.05 |
% |
| 2022 |
|
|
333 |
|
|
|
$0.96 |
|
|
|
to |
|
|
|
$1.43 |
|
|
|
$749 |
|
|
|
|
|
|
|
— |
|
|
|
0.65 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(4.24 |
%)(7) |
|
|
to |
|
|
|
(14.75 |
%) |
| 2021 |
|
|
285 |
|
|
|
$2.68 |
|
|
|
to |
|
|
|
$1.68 |
|
|
|
$742 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
22.71 |
% |
|
|
to |
|
|
|
21.49 |
% |
| 2020 |
|
|
335 |
|
|
|
$2.19 |
|
|
|
to |
|
|
|
$1.39 |
|
|
|
$715 |
|
|
|
|
|
|
|
— |
|
|
|
0.85 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
3.11 |
% |
|
|
to |
|
|
|
2.08 |
% |
| VP Ptnrs Sm Cap Val, Cl 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
617 |
|
|
|
$3.35 |
|
|
|
to |
|
|
|
$2.49 |
|
|
|
$2,511 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
7.23 |
% |
|
|
to |
|
|
|
6.27 |
% |
| 2023 |
|
|
694 |
|
|
|
$3.12 |
|
|
|
to |
|
|
|
$2.34 |
|
|
|
$2,670 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
10.65 |
% |
|
|
to |
|
|
|
9.66 |
% |
| 2022 |
|
|
751 |
|
|
|
$2.82 |
|
|
|
to |
|
|
|
$2.13 |
|
|
|
$2,611 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
(13.54 |
%) |
|
|
to |
|
|
|
(14.31 |
%) |
| 2021 |
|
|
839 |
|
|
|
$3.27 |
|
|
|
to |
|
|
|
$2.49 |
|
|
|
$3,393 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.21 |
% |
|
|
to |
|
|
|
22.10 |
% |
| 2020 |
|
|
1,062 |
|
|
|
$2.65 |
|
|
|
to |
|
|
|
$2.04 |
|
|
|
$3,483 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
3.55 |
% |
|
|
to |
|
|
|
2.62 |
% |
|
|
|
|
|
| 146 |
|
∎ RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At December 31 |
|
|
|
|
|
For the year ended December 31 |
|
| |
|
Units
(000s) |
|
|
Accumulation unit value
lowest to highest(1) |
|
|
Net assets
(000s) |
|
|
|
|
|
Investment
income ratio(2) |
|
|
Expense ratio
lowest to highest(3) |
|
|
Total return
lowest to highest(1)(4) |
|
| VP US Flex Conserv Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
18,891 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.25 |
|
|
|
$25,204 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
8.81 |
% |
|
|
to |
|
|
|
7.40 |
% |
| 2023 |
|
|
19,422 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$23,909 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.61 |
% |
|
|
to |
|
|
|
9.19 |
% |
| 2022 |
|
|
20,016 |
|
|
|
$1.07 |
|
|
|
to |
|
|
|
$1.07 |
|
|
|
$22,382 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.19 |
%) |
|
|
to |
|
|
|
(18.26 |
%) |
| 2021 |
|
|
22,654 |
|
|
|
$1.29 |
|
|
|
to |
|
|
|
$1.30 |
|
|
|
$30,735 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.91 |
% |
|
|
to |
|
|
|
5.53 |
% |
| 2020 |
|
|
27,322 |
|
|
|
$1.21 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$34,878 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
5.29 |
% |
|
|
to |
|
|
|
3.93 |
% |
| VP US Flex Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
152,313 |
|
|
|
$1.59 |
|
|
|
to |
|
|
|
$1.64 |
|
|
|
$267,540 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.50 |
% |
|
|
to |
|
|
|
14.99 |
% |
| 2023 |
|
|
160,487 |
|
|
|
$1.37 |
|
|
|
to |
|
|
|
$1.43 |
|
|
|
$243,009 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
16.16 |
% |
|
|
to |
|
|
|
14.66 |
% |
| 2022 |
|
|
165,012 |
|
|
|
$1.18 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$216,056 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(19.17 |
%) |
|
|
to |
|
|
|
(20.22 |
%) |
| 2021 |
|
|
164,863 |
|
|
|
$1.45 |
|
|
|
to |
|
|
|
$1.56 |
|
|
|
$268,291 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
14.87 |
% |
|
|
to |
|
|
|
13.38 |
% |
| 2020 |
|
|
150,582 |
|
|
|
$1.27 |
|
|
|
to |
|
|
|
$1.37 |
|
|
|
$214,263 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.23 |
% |
|
|
to |
|
|
|
2.88 |
% |
| VP US Flex Mod Gro, Cl 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
91,752 |
|
|
|
$1.44 |
|
|
|
to |
|
|
|
$1.44 |
|
|
|
$141,195 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
12.57 |
% |
|
|
to |
|
|
|
11.11 |
% |
| 2023 |
|
|
99,118 |
|
|
|
$1.28 |
|
|
|
to |
|
|
|
$1.29 |
|
|
|
$136,107 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
13.24 |
% |
|
|
to |
|
|
|
11.79 |
% |
| 2022 |
|
|
100,110 |
|
|
|
$1.13 |
|
|
|
to |
|
|
|
$1.16 |
|
|
|
$121,920 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(17.99 |
%) |
|
|
to |
|
|
|
(19.04 |
%) |
| 2021 |
|
|
100,979 |
|
|
|
$1.38 |
|
|
|
to |
|
|
|
$1.43 |
|
|
|
$150,643 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
10.86 |
% |
|
|
to |
|
|
|
9.43 |
% |
| 2020 |
|
|
95,376 |
|
|
|
$1.24 |
|
|
|
to |
|
|
|
$1.31 |
|
|
|
$128,964 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
4.95 |
% |
|
|
to |
|
|
|
3.60 |
% |
| Wanger Acorn |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,450 |
|
|
|
$4.42 |
|
|
|
to |
|
|
|
$1.24 |
|
|
|
$8,151 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
13.55 |
% |
|
|
to |
|
|
|
12.41 |
% |
| 2023 |
|
|
1,691 |
|
|
|
$3.90 |
|
|
|
to |
|
|
|
$1.10 |
|
|
|
$8,406 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
21.07 |
% |
|
|
to |
|
|
|
19.87 |
% |
| 2022 |
|
|
1,848 |
|
|
|
$3.22 |
|
|
|
to |
|
|
|
$0.92 |
|
|
|
$7,660 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(33.83 |
%) |
|
|
to |
|
|
|
(9.83 |
%)(7) |
| 2021 |
|
|
1,997 |
|
|
|
$4.86 |
|
|
|
to |
|
|
|
$3.85 |
|
|
|
$12,517 |
|
|
|
|
|
|
|
0.73 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
8.30 |
% |
|
|
to |
|
|
|
7.33 |
% |
| 2020 |
|
|
2,291 |
|
|
|
$4.49 |
|
|
|
to |
|
|
|
$3.58 |
|
|
|
$13,240 |
|
|
|
|
|
|
|
— |
|
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
23.55 |
% |
|
|
to |
|
|
|
22.44 |
% |
| Wanger Intl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
1,641 |
|
|
|
$3.16 |
|
|
|
to |
|
|
|
$0.93 |
|
|
|
$4,367 |
|
|
|
|
|
|
|
1.36 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(8.75 |
%) |
|
|
to |
|
|
|
(9.67 |
%) |
| 2023 |
|
|
1,883 |
|
|
|
$3.46 |
|
|
|
to |
|
|
|
$1.03 |
|
|
|
$5,634 |
|
|
|
|
|
|
|
0.32 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
16.32 |
% |
|
|
to |
|
|
|
15.16 |
% |
| 2022 |
|
|
2,053 |
|
|
|
$2.97 |
|
|
|
to |
|
|
|
$0.90 |
|
|
|
$5,273 |
|
|
|
|
|
|
|
0.92 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.55 |
% |
|
|
(34.21 |
%) |
|
|
to |
|
|
|
(9.03 |
%)(7) |
| 2021 |
|
|
2,201 |
|
|
|
$4.52 |
|
|
|
to |
|
|
|
$2.71 |
|
|
|
$8,547 |
|
|
|
|
|
|
|
0.55 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
18.16 |
% |
|
|
to |
|
|
|
17.10 |
% |
| 2020 |
|
|
2,450 |
|
|
|
$3.83 |
|
|
|
to |
|
|
|
$2.31 |
|
|
|
$8,060 |
|
|
|
|
|
|
|
2.05 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.45 |
% |
|
|
13.74 |
% |
|
|
to |
|
|
|
12.72 |
% |
| WA Var Global Hi Yd Bond, Cl II |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2024 |
|
|
427 |
|
|
|
$1.32 |
|
|
|
to |
|
|
|
$1.14 |
|
|
|
$532 |
|
|
|
|
|
|
|
6.15 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.11 |
% |
|
|
to |
|
|
|
4.73 |
% |
| 2023 |
|
|
447 |
|
|
|
$1.25 |
|
|
|
to |
|
|
|
$1.09 |
|
|
|
$530 |
|
|
|
|
|
|
|
4.96 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
9.36 |
% |
|
|
to |
|
|
|
7.94 |
% |
| 2022 |
|
|
519 |
|
|
|
$1.14 |
|
|
|
to |
|
|
|
$1.01 |
|
|
|
$565 |
|
|
|
|
|
|
|
5.65 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
(14.34 |
%) |
|
|
to |
|
|
|
(15.44 |
%) |
| 2021 |
|
|
651 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.19 |
|
|
|
$830 |
|
|
|
|
|
|
|
4.24 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
0.49 |
% |
|
|
to |
|
|
|
(0.81 |
%) |
| 2020 |
|
|
538 |
|
|
|
$1.33 |
|
|
|
to |
|
|
|
$1.20 |
|
|
|
$684 |
|
|
|
|
|
|
|
3.81 |
% |
|
|
0.55 |
% |
|
|
to |
|
|
|
1.85 |
% |
|
|
6.54 |
% |
|
|
to |
|
|
|
5.15 |
% |
| |
(1) |
The accumulation unit values and total returns are presented as a range of values based on the variable annuity contracts
with the lowest and highest expense ratios. |
| |
(2) |
These amounts represent the dividends, excluding distributions of capital gains, received by the division from the
underlying fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude variable account expenses that result in direct reductions in the unit values. The recognition of investment income by the
division is affected by the timing of the declaration of dividends by the underlying fund in which the division invests. These ratios are annualized for periods less than one year. |
| |
(3) |
These ratios represent the annualized contract expenses of the separate account, consisting primarily 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
are excluded. |
| |
(4) |
These amounts represent the total return for the periods indicated, including changes in the value of the underlying fund,
and reflect deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total
return presented. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for the period indicated or from the effective date through the end of the
reporting period. Although the total return is presented as a range of values based on the subaccounts representing the lowest and highest expense ratios, some individual subaccount total returns are not within the ranges presented due to the
introduction of new subaccounts during the year and other market factors. |
| |
(5) |
New subaccount operations commenced on April 24, 2020. |
| |
(6) |
New subaccount operations commenced on May 3, 2021. |
| |
(7) |
New subaccount operations commenced on May 2, 2022. |
| |
(8) |
New subaccount operations commenced on April 28, 2023. |
| |
(9) |
New subaccount operations commenced on April 26, 2024. |
|
|
|
|
|
|
|
| RIVERSOURCE OF NEW YORK VARIABLE
ANNUITY ACCOUNT ∎ |
|
|
147 |
|
REPORT OF INDEPENDENT AUDITORS
TO THE BOARD OF DIRECTORS AND SHAREHOLDER OF RIVERSOURCE LIFE INSURANCE CO. OF NEW YORK
Opinion
We have audited the accompanying
financial statements of RiverSource Life Insurance Co. of New York (the “Company”), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income, of comprehensive income, of
shareholder’s equity and of cash flows for each of the three years in the period ended December 31, 2024, including the related notes (collectively referred to as the “financial statements”).
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of
December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024 in accordance with accounting principles generally accepted in the United States of
America.
Basis for Opinion
We conducted our
audit in accordance with auditing standards generally accepted in the United States of America (US GAAS). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally
accepted in the United States of America, and 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.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the
aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date the financial statements are available to be issued.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud
or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with US GAAS will
always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the
financial statements.
In performing an audit in accordance with US GAAS, we:
| • |
|
Exercise professional judgment and maintain professional skepticism throughout the audit. |
| • |
|
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. |
F-1
| • |
|
Obtain an understanding of internal control relevant to the audit 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, no such opinion is expressed. |
| • |
|
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements. |
| • |
|
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. |
We are required to
communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
/s/ PricewaterhouseCoopers LLP
Minneapolis, Minnesota
April 23, 2025
F-2
RiverSource Life Insurance Co. of New York
BALANCE SHEETS
(in thousands, except share amounts)
|
|
|
|
|
|
|
|
|
| December 31, |
|
2024 |
|
|
2023 |
|
| Assets |
|
|
|
|
|
|
|
|
| Investments: |
|
|
|
|
|
|
|
|
| Available-for-Sale: |
|
|
|
|
|
|
|
|
| Fixed maturities, at fair value (amortized cost: 2024, $1,545,537; 2023, $1,680,232; allowance for credit
losses: 2024, nil; 2023, $365) |
|
$ |
1,420,630 |
|
|
$ |
1,585,541 |
|
| Mortgage loans, at amortized cost (allowance for credit losses: 2024, $424; 2023, $554) |
|
|
130,826 |
|
|
|
144,910 |
|
| Policy loans |
|
|
60,538 |
|
|
|
53,615 |
|
| Other investments |
|
|
638 |
|
|
|
597 |
|
| Total investments |
|
|
1,612,632 |
|
|
|
1,784,663 |
|
| Cash and cash equivalents |
|
|
145,878 |
|
|
|
80,082 |
|
| Market risk benefits |
|
|
147,075 |
|
|
|
94,641 |
|
| Reinsurance recoverables (allowance for credit losses: 2024, $3,300; 2023, $3,800) |
|
|
195,919 |
|
|
|
205,915 |
|
| Receivables |
|
|
10,340 |
|
|
|
7,863 |
|
| Accrued investment income |
|
|
14,363 |
|
|
|
15,376 |
|
| Deferred acquisition costs |
|
|
161,696 |
|
|
|
166,933 |
|
| Other assets |
|
|
189,005 |
|
|
|
160,302 |
|
| Separate account assets |
|
|
4,634,856 |
|
|
|
4,515,324 |
|
| Total assets |
|
$ |
7,111,764 |
|
|
$ |
7,031,099 |
|
|
|
|
|
|
|
|
|
|
| Liabilities and Shareholder’s Equity |
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Policyholder account balances, future policy benefits and claims |
|
$ |
1,843,572 |
|
|
$ |
1,916,999 |
|
| Market risk benefits |
|
|
26,470 |
|
|
|
47,166 |
|
| Other liabilities |
|
|
175,985 |
|
|
|
127,513 |
|
| Separate account liabilities |
|
|
4,634,856 |
|
|
|
4,515,324 |
|
| Total liabilities |
|
|
6,680,883 |
|
|
|
6,607,002 |
|
| Shareholder’s Equity: |
|
|
|
|
|
|
|
|
| Common stock, $10 par value; 200,000 shares authorized, issued and outstanding |
|
|
2,000 |
|
|
|
2,000 |
|
| Additional paid-in capital |
|
|
106,926 |
|
|
|
106,926 |
|
| Retained earnings |
|
|
428,525 |
|
|
|
405,131 |
|
| Accumulated other comprehensive income (loss), net of tax |
|
|
(106,570 |
) |
|
|
(89,960 |
) |
| Total shareholder’s equity |
|
|
430,881 |
|
|
|
424,097 |
|
| Total liabilities and shareholder’s equity |
|
$ |
7,111,764 |
|
|
$ |
7,031,099 |
|
See Notes to Financial Statements.
F-3
RiverSource Life Insurance Co. of New York
STATEMENTS OF INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
| Years Ended December 31, |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
| Premiums |
|
$ |
27,135 |
|
|
$ |
21,413 |
|
|
$ |
16,693 |
|
| Net investment income |
|
|
82,817 |
|
|
|
84,585 |
|
|
|
72,209 |
|
| Policy and contract charges |
|
|
125,670 |
|
|
|
123,750 |
|
|
|
125,296 |
|
| Other revenues |
|
|
23,564 |
|
|
|
22,102 |
|
|
|
23,617 |
|
| Net realized investment gains (losses) |
|
|
(419 |
) |
|
|
187 |
|
|
|
(3,452 |
) |
| Total revenues |
|
|
258,767 |
|
|
|
252,037 |
|
|
|
234,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Benefits and Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Benefits, claims, losses and settlement expenses |
|
|
51,316 |
|
|
|
48,540 |
|
|
|
37,994 |
|
| Interest credited to fixed accounts |
|
|
49,396 |
|
|
|
51,609 |
|
|
|
51,588 |
|
| Remeasurement (gains) losses of future policy benefit reserves |
|
|
(8,588 |
) |
|
|
2,003 |
|
|
|
2,225 |
|
| Change in fair value of market risk benefits |
|
|
26,843 |
|
|
|
45,118 |
|
|
|
40,393 |
|
| Amortization of deferred acquisition costs |
|
|
14,146 |
|
|
|
14,822 |
|
|
|
15,529 |
|
| Other insurance and operating expenses |
|
|
36,697 |
|
|
|
35,823 |
|
|
|
34,835 |
|
| Total benefits and expenses |
|
|
169,810 |
|
|
|
197,915 |
|
|
|
182,564 |
|
| Pretax income (loss) |
|
|
88,957 |
|
|
|
54,122 |
|
|
|
51,799 |
|
| Income tax provision (benefit) |
|
|
15,563 |
|
|
|
7,555 |
|
|
|
7,380 |
|
| Net income |
|
$ |
73,394 |
|
|
$ |
46,567 |
|
|
$ |
44,419 |
|
See Notes to Financial Statements.
STATEMENTS OF
COMPREHENSIVE INCOME
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
| Years Ended December 31, |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
|
|
|
| Net income |
|
$ |
73,394 |
|
|
$ |
46,567 |
|
|
$ |
44,419 |
|
| Other comprehensive income (loss), net of tax: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net unrealized gains (losses) on securities |
|
|
(23,676 |
) |
|
|
41,675 |
|
|
|
(213,461 |
) |
| Effect of changes in discount rate assumptions on certain long-duration contracts |
|
|
9,241 |
|
|
|
(6,125 |
) |
|
|
61,911 |
|
| Effect of changes in instrument-specific credit risk on market risk
benefits |
|
|
(2,175 |
) |
|
|
(2,950 |
) |
|
|
18,837 |
|
| Total other comprehensive income (loss), net of tax |
|
|
(16,610 |
) |
|
|
32,600 |
|
|
|
(132,713 |
) |
| Total comprehensive income (loss) |
|
$ |
56,784 |
|
|
$ |
79,167 |
|
|
$ |
(88,294 |
) |
See Notes to Financial Statements.
F-4
RiverSource Life Insurance Co. of New York
STATEMENTS OF SHAREHOLDER’S EQUITY
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Common
Stock |
|
|
Additional
Paid-In
Capital |
|
|
Retained
Earnings |
|
|
Accumulated Other
Comprehensive Income (Loss) |
|
|
Total |
|
| Balances at January 1, 2022 |
|
$ |
2,000 |
|
|
$ |
106,926 |
|
|
$ |
427,145 |
|
|
$ |
10,153 |
|
|
$ |
546,224 |
|
| Net income |
|
|
— |
|
|
|
— |
|
|
|
44,419 |
|
|
|
— |
|
|
|
44,419 |
|
| Other comprehensive loss, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(132,713 |
) |
|
|
(132,713 |
) |
| Cash dividend to RiverSource Life Insurance Company |
|
|
— |
|
|
|
— |
|
|
|
(63,000 |
) |
|
|
— |
|
|
|
(63,000 |
) |
| Balances at December 31, 2022 |
|
|
2,000 |
|
|
|
106,926 |
|
|
|
408,564 |
|
|
|
(122,560 |
) |
|
|
394,930 |
|
| Net income |
|
|
— |
|
|
|
— |
|
|
|
46,567 |
|
|
|
— |
|
|
|
46,567 |
|
| Other comprehensive income, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32,600 |
|
|
|
32,600 |
|
| Cash dividend to RiverSource Life Insurance Company |
|
|
— |
|
|
|
— |
|
|
|
(50,000 |
) |
|
|
— |
|
|
|
(50,000 |
) |
| Balances at December 31, 2023 |
|
|
2,000 |
|
|
|
106,926 |
|
|
|
405,131 |
|
|
|
(89,960 |
) |
|
|
424,097 |
|
| Net income |
|
|
— |
|
|
|
— |
|
|
|
73,394 |
|
|
|
— |
|
|
|
73,394 |
|
| Other comprehensive loss, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(16,610 |
) |
|
|
(16,610 |
) |
| Cash dividend to RiverSource Life Insurance Company |
|
|
— |
|
|
|
— |
|
|
|
(50,000 |
) |
|
|
— |
|
|
|
(50,000 |
) |
| Balances at December 31, 2024 |
|
$ |
2,000 |
|
|
$ |
106,926 |
|
|
$ |
428,525 |
|
|
$ |
(106,570 |
) |
|
$ |
430,881 |
|
See Notes to Financial Statements.
F-5
RiverSource Life Insurance Co. of New York
STATEMENTS OF CASH FLOWS
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
| Years Ended December 31, |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Cash Flows from Operating Activities |
|
|
|
|
| Net income |
|
$ |
73,394 |
|
|
$ |
46,567 |
|
|
$ |
44,419 |
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, amortization and accretion, net |
|
|
1,412 |
|
|
|
2,049 |
|
|
|
2,971 |
|
| Deferred income tax (benefit) expense |
|
|
14,880 |
|
|
|
(1,519 |
) |
|
|
(4,674 |
) |
| Contractholder and policyholder charges, non-cash |
|
|
(27,735 |
) |
|
|
(27,744 |
) |
|
|
(27,193 |
) |
| (Gain) loss from equity method investments |
|
|
(62 |
) |
|
|
(72 |
) |
|
|
96 |
|
| Net realized investment (gains) losses |
|
|
914 |
|
|
|
431 |
|
|
|
1,918 |
|
| Impairments and provision for loan losses |
|
|
(495 |
) |
|
|
(618 |
) |
|
|
1,534 |
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Deferred acquisition costs |
|
|
5,237 |
|
|
|
7,105 |
|
|
|
6,074 |
|
| Policyholder account balances, future policy benefits and claims, and market risk benefits, net |
|
|
(77,148 |
) |
|
|
(42,580 |
) |
|
|
(46,805 |
) |
| Derivatives, net of collateral |
|
|
1,897 |
|
|
|
(36,844 |
) |
|
|
(136,006 |
) |
| Reinsurance recoverables |
|
|
349 |
|
|
|
(4,765 |
) |
|
|
(9,928 |
) |
| Receivables |
|
|
(2,277 |
) |
|
|
553 |
|
|
|
5,261 |
|
| Accrued investment income |
|
|
1,013 |
|
|
|
(654 |
) |
|
|
(1,282 |
) |
| Current income tax, net |
|
|
(1,753 |
) |
|
|
(3,253 |
) |
|
|
3,339 |
|
| Other, net |
|
|
9,397 |
|
|
|
4,121 |
|
|
|
3,254 |
|
| Net cash provided by (used in) operating activities |
|
|
(977 |
) |
|
|
(57,223 |
) |
|
|
(157,022 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash Flows from Investing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Available-for-Sale
securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from sales |
|
|
4,609 |
|
|
|
902 |
|
|
|
152,436 |
|
| Maturities, sinking fund payments and calls |
|
|
127,776 |
|
|
|
115,763 |
|
|
|
229,741 |
|
| Purchases |
|
|
(216 |
) |
|
|
(120,653 |
) |
|
|
(356,097 |
) |
| Proceeds from maturities and repayments of mortgage loans |
|
|
17,214 |
|
|
|
15,195 |
|
|
|
12,845 |
|
| Funding of mortgage loans |
|
|
(3,000 |
) |
|
|
(2,626 |
) |
|
|
(14,299 |
) |
| Proceeds from sales of other investments |
|
|
21 |
|
|
|
22 |
|
|
|
— |
|
| Purchase of other investments |
|
|
— |
|
|
|
— |
|
|
|
(131 |
) |
| Change in policy loans, net |
|
|
(6,923 |
) |
|
|
(2,824 |
) |
|
|
1,277 |
|
| Net cash provided by (used in) investing activities |
|
|
139,481 |
|
|
|
5,779 |
|
|
|
25,772 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash Flows from Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Policyholder account balances: |
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits and other additions |
|
|
111,071 |
|
|
|
105,284 |
|
|
|
92,918 |
|
| Net transfers from (to) separate accounts |
|
|
(11,509 |
) |
|
|
(5,907 |
) |
|
|
(3,275 |
) |
| Surrenders and other benefits |
|
|
(122,035 |
) |
|
|
(132,933 |
) |
|
|
(90,640 |
) |
| Proceeds from line of credit with Ameriprise Financial, Inc. |
|
|
2,600 |
|
|
|
— |
|
|
|
— |
|
| Payments on line of credit with Ameriprise Financial, Inc. |
|
|
(2,600 |
) |
|
|
— |
|
|
|
— |
|
| Cash received for purchased options with deferred premiums |
|
|
— |
|
|
|
10,823 |
|
|
|
30,753 |
|
| Cash paid for purchased options with deferred premiums |
|
|
(235 |
) |
|
|
(501 |
) |
|
|
(983 |
) |
| Cash dividends to RiverSource Life Insurance Company |
|
|
(50,000 |
) |
|
|
(50,000 |
) |
|
|
(63,000 |
) |
| Net cash provided by (used in) financing activities |
|
|
(72,708 |
) |
|
|
(73,234 |
) |
|
|
(34,227 |
) |
| Net increase (decrease) in cash and cash equivalents |
|
|
65,796 |
|
|
|
(124,678 |
) |
|
|
(165,477 |
) |
| Cash and cash equivalents at beginning of period |
|
|
80,082 |
|
|
|
204,760 |
|
|
|
370,237 |
|
| Cash and cash equivalents at end of period |
|
$ |
145,878 |
|
|
$ |
80,082 |
|
|
$ |
204,760 |
|
| Supplemental Disclosures: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income taxes paid (received), net |
|
$ |
2,435 |
|
|
$ |
12,777 |
|
|
$ |
10,115 |
|
See Notes to Financial Statements.
F-6
RiverSource Life Insurance Co. of New York
NOTES TO FINANCIAL STATEMENTS
1. NATURE OF BUSINESS AND BASIS OF
PRESENTATION
RiverSource Life Insurance Co. of New York (the “Company”) is a stock life insurance company which is domiciled and holds a
Certificate of Authority in the State of New York. The Company is a wholly owned subsidiary of RiverSource Life Insurance Company (“RiverSource Life”), which is domiciled in Minnesota. RiverSource Life is a wholly owned subsidiary of
Ameriprise Financial, Inc. (“Ameriprise Financial”). The Company issues insurance and annuity products to customers in the State of New York.
The accompanying financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) which vary in certain
respects from reporting practices prescribed or permitted by the New York State Department of Financial Services (“New York Department”) (the Company’s primary regulator) as described in Note 14.
The Company evaluated events or transactions that occurred after the balance sheet date for potential recognition or disclosure through April 23, 2025,
the date the financial statements were issued. No subsequent events or transactions requiring recognition or disclosure were identified.
The
Company’s operations constitute a single operating segment, and therefore a single reportable segment, as the chief operating decision maker (“CODM”) manages the business activities using information of the Company as a whole. As its
CODM, the Company’s Chairman, President and Chief Executive Officer utilizes the Statements of Income and its net income metric to allocate resources and assess performance of the Company. The accounting policies used to measure the profit and
loss of the segment are the same as those described in Note 2.
The Company’s principal products are variable annuities, universal life
(“UL”) insurance, including indexed universal life (“IUL”) and variable universal life (“VUL”) insurance, which are issued primarily to individuals. Waiver of premium and accidental death benefit riders are generally
available with UL products, in addition to other benefit riders. Variable annuity contract purchasers can choose to add an optional guaranteed minimum death benefit (“GMDB”) rider to their contract.
The Company also offers payout annuities, term life insurance and disability income (“DI”) insurance.
The Company’s business is sold through the advisor network of Ameriprise Financial Services, LLC (“AFS”), a subsidiary of Ameriprise Financial.
RiverSource Distributors, Inc., a subsidiary of Ameriprise Financial, serves as the principal underwriter and distributor of variable annuity and life insurance products issued by the Company.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Amounts
Based on Estimates and Assumptions
Accounting estimates are an integral part of the financial statements. In part, they are based upon assumptions
concerning future events. Among the more significant are those that relate to investment securities valuation and the recognition of credit losses or impairments, valuation of derivative instruments, litigation reserves, future policy benefits,
market risk benefits, and income taxes and the recognition of deferred tax assets and liabilities. These accounting estimates reflect the best judgment of management and actual results could differ.
Investments
Available-for-Sale Securities
Available-for-Sale securities are carried at fair value with unrealized gains
(losses) recorded in accumulated other comprehensive income (loss) (“AOCI”), net of impacts to benefit reserves, reinsurance recoverables and income taxes. Gains and losses are recognized on a trade date basis in the Statements of Income
upon disposition of the securities.
Available-for-Sale securities are
impaired when the fair value of an investment is less than its amortized cost. When an Available-for-Sale security is impaired, the Company first assesses whether or
not: (i) it has the intent to sell the security (i.e., made a decision to sell) or (ii) it is more likely than not that the Company will be required to sell the security before its anticipated recovery. If either of these conditions
exist, the Company recognizes an impairment by reducing the book value of the security for the difference between the investment’s amortized cost and its fair value with a corresponding charge to earnings. Subsequent increases in the fair value
of Available-for-Sale securities that occur in periods after a write-down has occurred are recorded as unrealized gains in other comprehensive income (loss)
(“OCI”), while subsequent decreases in fair value would continue to be recorded as reductions of book value with a charge to earnings.
For
securities that do not meet the above criteria, the Company determines whether the decrease in fair value is due to a credit loss or due to other factors. The amount of impairment due to credit-related factors, if any, is recognized as an allowance
for credit losses with a related charge to Net realized investment gains (losses). The allowance for credit losses is limited to the amount by which the security’s amortized cost basis exceeds its fair value. The amount of the impairment
related to other factors is recognized in OCI.
F-7
RiverSource Life Insurance Co. of New York
Factors the Company considers in determining whether declines in the fair value of fixed maturity securities are due to credit-related factors include:
(i) the extent to which the market value is below amortized cost; (ii) fundamental analysis of the liquidity, business prospects and overall financial condition of the issuer; and (iii) market events that could impact credit ratings,
economic and business climate, litigation and government actions, and similar external business factors.
If through subsequent evaluation there is a
sustained increase in cash flows expected, both the allowance and related charge to earnings may be reversed to reflect the increase in expected principal and interest payments.
In order to determine the amount of the credit loss component for corporate debt securities, a best estimate of the present value of cash flows expected to be
collected discounted at the security’s effective interest rate is compared to the amortized cost basis of the security. The significant inputs to cash flow projections consider potential debt restructuring terms, projected cash flows available
to pay creditors and the Company’s position in the debtor’s overall capital structure. When assessing potential credit-related impairments for structured investments (e.g., residential mortgage backed securities, commercial mortgage backed
securities and asset backed securities), the Company also considers credit-related factors such as overall deal structure and its position within the structure, quality of underlying collateral, delinquencies and defaults, loss severities,
recoveries, prepayments and cumulative loss projections.
Management has elected to exclude accrued interest in its measurement of the allowance for credit
losses for Available-for-Sale securities. Accrued interest on Available-for-Sale
securities is recorded as earned in Accrued investment income. Available-for-Sale securities are generally placed on nonaccrual status when the accrued balance becomes
90 days past due or earlier based on management’s evaluation of the facts and circumstances of each security under review. All previously accrued interest is reversed through Net investment income.
The Company invests in structured investments which are considered variable interest entities (“VIEs”) for which it is not the sponsor. These
structured investments typically invest in fixed income instruments and are managed by third parties and include asset backed securities and commercial and residential mortgage backed securities. The Company classifies these investments as Available-for-Sale securities. The Company has determined that it is not the primary beneficiary of these structures due to the size of the Company’s investment in the
entities and position in the capital structure of these entities. The Company’s maximum exposure to loss as a result of its investment in these structured investments is limited to its amortized cost. The Company has no obligation to provide
financial or other support to the structured investments beyond its investment nor has the Company provided any support to the structured investments. See Note 5 for additional information on these structured investments.
Financing Receivables
Financing receivables are comprised
of mortgage loans and policy loans.
Mortgage Loans
Mortgage loans are loans on commercial properties that are originated by the Company and are recorded at amortized cost less the allowance for credit losses.
Interest income is accrued as earned on the unpaid principal balances of the loans. Interest income recognized on mortgage loans is recorded in Net
investment income.
Policy Loans
Policy loans do not
exceed the cash surrender value at origination. As there is minimal risk of loss related to policy loans, there is no allowance for credit losses.
Interest income is accrued as earned on the unpaid principal balances of the loans. Interest income recognized on policy loans is recorded in Net investment
income.
See Note 6 for additional information on financing receivables.
Allowance for Credit Losses
The allowance for credit
losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected over the asset’s expected life, considering past events, current conditions and reasonable
and supportable forecasts of future economic conditions. Estimates of expected credit losses consider both historical charge-off and recovery experience as well as current economic conditions and
management’s expectation of future charge-off and recovery levels. Expected losses related to risks other than credit risk are excluded from the allowance for credit losses. The allowance for credit
losses is measured and recorded upon initial recognition of the loan, regardless of whether it is originated or purchased.
The allowance for credit losses
for mortgage loans utilizes a probability of default and loss severity approach to estimate lifetime expected credit losses. Actual historical default and loss severity data is adjusted for current conditions and reasonable and supportable forecasts
of future economic conditions to develop the probability of default and loss severity assumptions that are applied to the amortized cost basis of the loans over the expected life of each portfolio. The allowance for credit losses on
F-8
RiverSource Life Insurance Co. of New York
mortgage loans is recorded through provisions charged to Net realized investment gains (losses) and is reduced/increased by net charge-offs/recoveries.
Management determines the adequacy of the allowance for credit losses based on the overall loan portfolio composition, recent and historical loss experience,
and other pertinent factors, including when applicable, internal risk ratings, loan-to-value ratios, and occupancy rates, along with reasonable and supportable forecasts
of economic and market conditions. This evaluation is inherently subjective as it requires estimates, which may be susceptible to significant change. While the Company may attribute portions of the allowance to specific loan pools as part of the
allowance estimation process, the entire allowance is available to absorb losses expected over the life of the loan portfolio.
Nonaccrual Loans
Mortgage loans are placed on nonaccrual status when either the collection of interest or principal has become 90 days past due or is otherwise
considered doubtful of collection. When a loan is placed on nonaccrual status, unpaid accrued interest is reversed. Interest payments received on loans on nonaccrual status are generally applied to principal unless the remaining principal balance
has been determined to be fully collectible. Management has elected to exclude accrued interest in its measurement of the allowance for credit losses for mortgage loans.
Loan Modifications
A loan is modified when the Company
makes certain concessionary modifications to contractual terms such as principal forgiveness, interest rate reductions, other-than-insignificant payment delays, and/or term extensions in an attempt to make the loan more affordable to a borrower
experiencing financial difficulties. Generally, performance prior to the modification or significant events that coincide with the modification are considered in assessing whether the borrower can meet the new terms which may result in the loan
being returned to accrual status at the time of the modification or after a performance period. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, the loan remains on nonaccrual status.
Charge-off and Foreclosure
Charge-offs are recorded when the Company concludes that all or a portion of the mortgage loan is uncollectible. Factors used by the Company to determine
whether all amounts due on mortgage loans will be collected, include but are not limited to, the financial condition of the borrower, performance of the underlying properties, collateral and/or guarantees on the loan, and the borrower’s
estimated future ability to pay based on property type and geographic location.
If it is determined that foreclosure on a mortgage loan is probable and
the fair value is less than the current loan balance, expected credit losses are measured as the difference between the amortized cost basis of the asset and fair value less estimated costs to sell, if applicable. Upon foreclosure, the mortgage loan
and related allowance are reversed, and the foreclosed property is recorded as real estate owned within Other assets.
Cash and Cash Equivalents
Cash equivalents include highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less.
Reinsurance
The Company cedes insurance risk to other
insurers under reinsurance agreements.
Reinsurance premiums paid and benefits received are accounted for consistently with the basis used in accounting
for the policies from which risk is reinsured and consistently with the terms of the reinsurance contracts. Reinsurance premiums paid for traditional life, long term care (“LTC”) and DI insurance and life contingent payout annuities, net
of the change in any prepaid reinsurance asset, are reported as a reduction of Premiums. Reinsurance recoveries are reported as components of Benefits, claims, losses and settlement expenses.
UL and VUL reinsurance premiums are reported as a reduction of Policy and contract charges. In addition, for UL and VUL insurance policies, the net cost of
reinsurance ceded, which represents the discounted amount of the expected cash flows between the reinsurer and the Company, is classified as an asset and amortized based on estimated gross profits (“EGPs”) over the period the reinsurance
policies are in force. Changes in the net cost of reinsurance are reflected as a component of Policy and contract charges.
Insurance liabilities are
reported before the effects of reinsurance. Policyholder account balances, future policy benefits and claims recoverable under reinsurance contracts are recorded within Reinsurance recoverables, net of the allowance for credit losses. The Company
evaluates the financial condition of its reinsurers prior to entering into new reinsurance contracts and on a periodic basis during the contract term. The allowance for credit losses related to reinsurance recoverable is based on applying observable
industry data including insurer ratings, default and loss severity data to the Company’s reinsurance recoverable balances. Management evaluates the results of the calculation and considers differences between the industry data and the
Company’s data. Such differences include that the Company has no actual history of significant losses and that industry data may contain non-life insurers. This evaluation is inherently subjective as it
requires estimates, which may be susceptible to significant
F-9
RiverSource Life Insurance Co. of New York
change given the long-term nature of these receivables. The allowance for credit losses on reinsurance recoverable is recorded through provisions charged to
Benefits, claims, losses and settlement expenses.
The Company also assumes life insurance risk from other insurers in limited circumstances. Reinsurance
premiums received and benefits paid are accounted for consistently with the basis used in accounting for the policies from which risk is reinsured and consistently with the terms of the reinsurance contracts. Liabilities for assumed business are
recorded within Policyholder account balances, future policy benefits and claims.
See Note 8 for additional information on reinsurance.
Derivative Instruments and Hedging Activities
Freestanding derivative instruments are recorded at fair value and are reflected in Other assets or Other liabilities. The Company’s policy is to not
offset fair value amounts recognized for derivatives and collateral arrangements executed with the same counterparty under the same master netting arrangement. The accounting for changes in the fair value of a derivative instrument depends on its
intended use and the resulting hedge designation, if any. The Company primarily uses derivatives as economic hedges that are not designated as accounting hedges or do not qualify for hedge accounting treatment.
Derivative instruments that are entered into for hedging purposes are designated as such at the time the Company enters into the contract. For all derivative
instruments that are designated for hedging activities, the Company documents all of the hedging relationships between the hedge instruments and the hedged items at the inception of the relationships. Management also documents its risk management
objectives and strategies for entering into the hedge transactions. The Company assesses, at inception and on a quarterly basis, whether derivatives designated as hedges are highly effective in offsetting the fair value or cash flows of hedged
items. If it is determined that a derivative is no longer highly effective as a hedge, the Company will discontinue the application of hedge accounting.
For derivative instruments that do not qualify for hedge accounting or are not designated as accounting hedges, changes in fair value are recognized in current
period earnings. Changes in fair value of derivatives are presented in the Statements of Income based on the nature and use of the instrument. Changes in fair value of derivatives used as economic hedges are presented in the Statements of Income
with the corresponding change in the hedged asset or liability.
The equity component of IUL obligations is considered an embedded derivative.
Additionally, certain annuities contain guaranteed minimum accumulation benefits (“GMAB”) and guaranteed minimum withdrawal benefits (“GMWB”) provisions accounted for as market risk benefits.
See Note 12 for information regarding the Company’s fair value measurement of derivative instruments and Note 16 for the impact of derivatives on the
Statements of Income.
Market Risk Benefits
Market
risk benefits are contracts or contract features that both provide protection to the contractholder from other-than-nominal capital market risk and expose the Company to other-than-nominal capital market risk. Market risk benefits include certain
contract features on variable annuity products that provide minimum guarantees to contractholders. Guarantees accounted for as market risk benefits include GMDB, guaranteed minimum income benefit (“GMIB”), GMWB and GMAB. If a contract
contains multiple market risk benefits, those market risk benefits are bundled together as a single compound market risk benefit.
Market risk benefits are
measured at fair value, at the individual contract level, using a non-option-based valuation approach or an option-based valuation approach dependent upon the fee structure of the contract. Changes in fair
value are recognized in net income each period with the exception of the portion of the change in fair value due to a change in the instrument-specific credit risk, which is recognized in OCI.
Deferred Acquisition Costs
The Company
incurs costs in connection with acquiring new and renewal insurance and annuity businesses. The portion of these costs which are incremental and direct to the acquisition of a new or renewal insurance policy or annuity contract are deferred.
Significant costs capitalized include sales based compensation related to the acquisition of new and renewal insurance policies and annuity contracts, medical inspection costs for successful sales, and a portion of employee compensation and benefit
costs based upon the amount of time spent on successful sales. Sales based compensation paid to Ameriprise Financial’s advisors and employees and third-party distributors is capitalized. Employee compensation and benefits costs which are
capitalized relate primarily to sales efforts, underwriting and processing. All other costs which are not incremental direct costs of acquiring an insurance policy or annuity contract are expensed as incurred. The deferred acquisition costs
(“DAC”) associated with insurance policies or annuity contracts that are significantly modified or internally replaced with another contract are accounted for as write-offs. These transactions are anticipated in establishing amortization
periods and other valuation assumptions.
The Company monitors other DAC amortization assumptions, such as persistency, mortality, morbidity, and variable
annuity benefit utilization each quarter and, when assessed independently, each could impact the Company’s DAC balances. Unamortized DAC is reduced for actual experience in excess of expected experience.
F-10
RiverSource Life Insurance Co. of New York
The analysis of DAC balances and the corresponding amortization considers all relevant factors and assumptions described previously. Unless the Company’s
management identifies a significant deviation over the course of the quarterly monitoring, management reviews and updates these DAC amortization assumptions annually in the third quarter of each year.
DAC is amortized on a constant-level basis for the grouped contracts over the expected contract term to approximate straight-line amortization. Contracts are
grouped by contract type and issue year into cohorts consistent with the grouping used in estimating the associated liability for future policy benefits. DAC related to all long-duration product types (except for life contingent payout annuities) is
grouped on a calendar-year annual basis for each legal entity. Further disaggregation is reported for any contracts that include an additional liability for death or other insurance benefit. DAC related to life contingent payout annuities is grouped
on a calendar-year annual basis for each legal entity for policies issued prior to 2021 and on a quarterly basis for each legal entity thereafter.
DAC
related to annuity products (including variable deferred annuities, fixed deferred annuities, and life contingent payout annuities) is amortized based on initial premium. DAC related to life insurance products (including UL insurance, VUL insurance,
IUL insurance, term life insurance, and whole life insurance) is amortized based on original specified amount (i.e., face amount). DAC related to DI insurance is amortized based on original monthly benefit.
The accounting contract term for annuity products (except for life contingent payout annuities) is the projected accumulation period. Life contingent payout
annuities are amortized over the period which annuity payments are expected to be paid. The accounting contract term for life insurance products is the projected life of the contract. DI insurance is amortized over the projected life of the
contract, including the claim paying period.
Deferred Sales Inducement Costs
Deferred sales inducements are contract features that are intended to attract new customers or to persuade existing customers to keep their current policy.
Sales inducement costs consist of bonus interest credits and premium credits added to certain annuity contract and insurance policy values. These benefits are capitalized to the extent they are incremental to amounts that would be credited on
similar contracts without the applicable feature. The amounts capitalized are amortized on a constant level basis using the same methodology and assumptions used to amortize DAC. Deferred sales inducement costs (“DSIC”) is recorded in
Other assets and amortization of DSIC is recorded in Benefits, claims, losses and settlement expenses.
Separate Account Assets and Liabilities
Separate account assets represent funds held for the benefit of, and Separate account liabilities represent the obligation to, the variable annuity
contractholders and variable life insurance policyholders who have a contractual right to receive the benefits of their contract or policy and bear the related investment risk. Gains and losses on separate account assets accrue directly to the
contractholder or policyholder and are not reported in the Company’s Statements of Income. Separate account assets are recorded at fair value and Separate account liabilities are equal to the assets recognized.
Policyholder Account Balances, Future Policy Benefits and Claims
The Company establishes reserves to cover the benefits associated with non-traditional and traditional long-duration
products. Non-traditional long-duration products include variable annuity contracts, fixed annuity contracts and UL and VUL policies. Traditional long-duration products include term life, whole life, DI and
LTC insurance products and life contingent payout annuity products.
Non-Traditional Long-Duration Products
The liabilities for non-traditional long-duration products include fixed account values on variable and fixed
annuities and UL and VUL policies, non-life contingent payout annuities, liabilities for guaranteed benefits associated with variable annuities and embedded derivatives for IUL products.
Liabilities for fixed account values on variable and fixed deferred annuities and UL and VUL policies are equal to accumulation values, which are the
cumulative gross deposits and credited interest less withdrawals and various charges. The liability for non-life contingent payout annuities is recognized as the present value of future payments using the
effective yield at inception of the contract.
A portion of the Company’s UL and VUL policies have product features that result in profits followed by
losses from the insurance component of the contract. These profits followed by losses can be generated by the cost structure of the product or secondary guarantees in the contract. The secondary guarantee ensures that, subject to specified
conditions, the policy will not terminate and will continue to provide a death benefit even if there is insufficient policy value to cover the monthly deductions and charges. The liability for these future losses is determined at the reporting date
by estimating the death benefits in excess of account value and recognizing the excess over the estimated life based on expected assessments (e.g. cost of insurance charges, contractual administrative charges, similar fees and investment margin).
See Note 9 for information regarding the liability for contracts with secondary guarantees. Liabilities for IUL products are equal to the accumulation of host contract values, guaranteed benefits, and the fair value of embedded derivatives.
F-11
RiverSource Life Insurance Co. of New York
See Note 11 for information regarding variable annuity guarantees.
Embedded Derivatives
The fair value of embedded
derivatives related to IUL fluctuate based on equity markets and interest rates and the estimate of the Company’s nonperformance risk and is recorded in Policyholder account balances, future policy benefits and claims. See Note 12 for
information regarding the fair value measurement of embedded derivatives.
Traditional Long-Duration Products
The liabilities for traditional long-duration products include cash flows related to unpaid amounts on reported claims, estimates of benefits payable on claims
incurred but not yet reported and estimates of benefits that will become payable on term life, whole life, DI, LTC, and life contingent payout annuity policies as claims are incurred in the future. The claim liability (also referred to as disabled
life reserve) is presented together as one liability for future policy benefits.
A liability for future policy benefits, which is the present value of
estimated future policy benefits to be paid to or on behalf of policyholders and certain related expenses less the present value of estimated future net premiums to be collected from policyholders, is accrued as premium revenue is recognized.
Expected insurance benefits are accrued over the life of the contract in proportion to premium revenue recognized (referred to as the net premium approach). The net premium ratio reflects cash flows from contract inception to contract termination
(i.e., through the claim paying period) and cannot exceed 100%.
Assumptions utilized in the net premium approach, including mortality, morbidity, and
terminations, are reviewed as part of experience studies at least annually or more frequently if suggested by evidence. Expense assumptions and actual expenses are updated within the net premium calculation consistent with other policyholder
assumptions.
The updated cash flows used in the calculation are discounted using a forward rate curve. The discount rate represents an upper-medium-grade
(i.e., low credit risk) fixed-income instrument yield (i.e., an A rating) that reflects the duration characteristics of the liability. Discount rates are locked in annually, at the end of each year for all products, except life contingent payout
annuities, and calculated as the monthly average discount rate curves for the year. For life contingent payout annuities, the discount rates are locked in quarterly at the end of each quarter based on the average of the three months for the quarter.
The liability for future policy benefits will be updated for actual experience at least on an annual basis and concurrent with changes to cash flow
assumptions. When net premiums are updated for cash flow changes, the estimated cash flows over the entire life of a group of contracts are updated using historical experience and updated future cash flow assumptions.
The revised net premiums are used to calculate an updated liability for future policy benefits as of the beginning of the reporting period, discounted at the
original locked in rate (i.e., contract issuance rate). The updated liability for future policy benefits as of the beginning of the reporting period is then compared with the carrying amount of the liability as of that date prior to updating cash
flow assumptions to determine the current period remeasurement gain or loss reflected in current period earnings. The revised net premiums are then applied as of the beginning of the quarter to calculate the benefit expense for the current reporting
period.
The difference between the updated carrying amount of the liability for future policy benefits measured using the current discount rate assumption
and the original discount rate assumption is recognized in OCI. The interest accretion rate remains the original discount rate used at contract issue date.
If the updating of cash flow assumptions results in the present value of future benefits and expenses exceeding the present value of future gross premiums, a
charge to net income is recorded for the current reporting period such that net premiums are set equal to gross premiums. In subsequent periods, the liability for future policy benefits is accrued with net premiums set equal to gross premiums.
Contracts (except for life contingent payout annuities sold subsequent to December 31, 2020) are grouped into cohorts by contract type and issue year, as
well as by legal entity and reportable segment. Life contingent payout annuities sold in periods beginning in 2021 are grouped into quarterly cohorts.
See
Note 9 for information regarding the liabilities for traditional long-duration products.
Deferred Profit Liability
For limited-payment products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability
(“DPL”). Gross premiums are measured using assumptions consistent with those used in the measurement of the liability for future policy benefits, including discount rate, mortality, lapses and expenses.
The DPL is amortized and recognized as premium revenue in proportion to expected future benefit payments from annuity contracts. Interest is accreted on the
balance of the DPL using the discount rate determined at contract issuance. The Company reviews and updates its estimate of cash flows from the DPL at the same time as the estimates of cash flows for the liability for future policy benefits. When
cash flows are updated, the updated estimates are used to recalculate the DPL at contract issuance. The recalculated DPL as of the beginning of the current reporting period is compared to the carrying amount of the DPL as of the beginning of the
current reporting period, and any difference is recognized as either a charge or credit to premium revenue.
F-12
RiverSource Life Insurance Co. of New York
DPL is recorded in Policyholder account balances, future policy benefits and claims and included as a reconciling item within Note 9.
Unearned Revenue Liability
The Company’s UL and VUL
policies require payment of fees or other policyholder assessments in advance for services to be provided in future periods. These charges are deferred as unearned revenue and amortized using the same assumptions and factors used to amortize DAC.
The unearned revenue liability is recorded in Other liabilities and the amortization is recorded in Policy and contract charges.
Income Taxes
The Company qualifies as a life insurance company for federal income tax purposes. As such, the Company is subject to the Internal Revenue Code provisions
applicable to life insurance companies.
The Company’s taxable income is included in the consolidated federal income tax return of Ameriprise
Financial. The Company provides for income taxes on a separate return basis, except that, under an agreement between Ameriprise Financial and the Company, tax benefits are recognized for losses to the extent they can be used in the consolidated
return. It is the policy of Ameriprise Financial that it will reimburse its subsidiaries for any tax benefits recorded. The controlled group for which the Company is a member is an applicable corporation with regard to the corporate alternative
minimum tax (“CAMT”) and is therefore required to compute the CAMT. In accordance with the tax sharing agreement, Ameriprise Financial will be liable for any CAMT liability and expense.
The Company’s provision for income taxes represents the net amount of income taxes that the Company expects to pay or to receive from various taxing
jurisdictions in connection with its operations. The Company provides for income taxes based on amounts that the Company believes it will ultimately owe taking into account the recognition and measurement for uncertain tax positions. Inherent in the
provision for income taxes are estimates and judgments regarding the tax treatment of certain items.
In connection with the provision for income taxes,
the financial statements reflect certain amounts related to deferred tax assets and liabilities, which result from temporary differences between the assets and liabilities measured for financial statement purposes versus the assets and liabilities
measured for tax return purposes.
The Company is required to establish a valuation allowance for any portion of its deferred tax assets that management
believes will not be realized. Significant judgment is required in determining if a valuation allowance should be established and the amount of such allowance if required. Factors used in making this determination include estimates relating to the
performance of the business. Consideration is given to, among other things in making this determination: (i) future taxable income exclusive of reversing temporary differences and carryforwards; (ii) future reversals of existing taxable
temporary differences; (iii) taxable income in prior carryback years; and (iv) tax planning strategies. Management may need to identify and implement appropriate planning strategies to ensure its ability to realize deferred tax assets and
reduce the likelihood of the establishment of a valuation allowance with respect to such assets. See Note 18 for additional information on the Company’s valuation allowance.
Changes in tax rates and tax law are accounted for in the period of enactment. Deferred tax assets and liabilities are adjusted for the effect of a change in
tax laws or rates and the effect is included in net income.
Revenue Recognition
Premiums on traditional life, DI and LTC insurance products and life contingent payout annuities are net of reinsurance ceded and are recognized as revenue
when due.
Interest income is accrued as earned using the effective interest method, which makes an adjustment of the yield for security premiums and
discounts on all performing fixed maturity securities classified as Available-for-Sale so that the related security or loan recognizes a constant rate of return on the
outstanding balance throughout its term. When actual prepayments differ significantly from originally anticipated prepayments, the retrospective effective yield is recalculated to reflect actual payments to date and updated future payment
assumptions and a catch-up adjustment is recorded in the current period. In addition, the new effective yield, which reflects anticipated future payments, is used prospectively.
Mortality and expense risk fees are generally calculated as a percentage of the fair value of assets held in separate accounts and recognized when assessed.
Variable annuity guaranteed benefit rider charges and cost of insurance charges on UL and VUL insurance and contract charges (net of reinsurance premiums and cost of reinsurance for UL insurance products) and surrender charges on annuities and UL
and VUL insurance are recognized as revenue when assessed. These fees and charges are recorded in Policy and contract charges
Realized gains and losses on
the sale of securities, other than equity method investments, are recognized using the specific identification method, on a trade date basis.
Fees
received under marketing support and distribution services arrangements are recognized as revenue when earned.
See Note 4 for further discussion of
accounting policies on revenue from contracts with customers.
F-13
RiverSource Life Insurance Co. of New York
3. RECENT ACCOUNTING PRONOUNCEMENTS
Adoption of New
Accounting Standards
Segment Reporting — Improvements to Reportable Segment Disclosures
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures, updating reportable segment disclosure requirements in accordance with Topic 280, Segment Reporting (“Topic 280”), primarily through
enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss and contain other
disclosure requirements. The amendments also expand Topic 280 disclosures to public entities with one reportable segment. The amendments are effective for annual periods beginning after December 15, 2023, and interim periods beginning after
December 15, 2024. The Company adopted the standard on January 1, 2024. The adoption of the standard did not have an impact on the Company’s financial condition and results of operations as the standard is disclosure-related only.
Future Adoption of New Accounting Standards
Income Taxes — Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, updating the accounting
standards related to income tax disclosures, primarily focused on the disaggregation of income taxes paid and the rate reconciliation table. The standard is to be applied prospectively with an option for retrospective application and is effective
for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is assessing changes to the income tax-related disclosures resulting from the standard. The adoption of the
standard will not have an impact on the Company’s financial condition and results of operations as the standard is disclosure-related only.
Expenses — Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, requiring public
business entities to disclose disaggregated information about certain income statement expense line items. The disaggregated disclosures are required to be in the footnotes to the financial statements on an annual and interim basis. The standard is
to be applied prospectively, with an option for retrospective application and is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted.
The Company is assessing changes to footnote disclosures resulting from the standard. The adoption of the standard will not have an impact on the Company’s financial condition and results of operations as the standard is disclosure-related
only.
4. REVENUE FROM CONTRACTS WITH CUSTOMERS
The
following table presents disaggregated revenue from contracts with customers and a reconciliation to total revenues reported on the Statements of Income:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Policy and contract charges |
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliated (from Columbia Management Investment Distributors, Inc.) |
|
$ |
9,678 |
|
|
$ |
9,193 |
|
|
$ |
9,762 |
|
| Unaffiliated |
|
|
996 |
|
|
|
850 |
|
|
|
829 |
|
| Total |
|
|
10,674 |
|
|
|
10,043 |
|
|
|
10,591 |
|
| Other revenues |
|
|
|
|
|
|
|
|
|
|
|
|
| Administrative fees |
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliated (from Columbia Management Investment Services, Corp.) |
|
|
2,498 |
|
|
|
2,317 |
|
|
|
2,474 |
|
| Unaffiliated |
|
|
1,172 |
|
|
|
1,029 |
|
|
|
1,019 |
|
| |
|
|
3,670 |
|
|
|
3,346 |
|
|
|
3,493 |
|
| Other fees |
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliated (from Columbia Management Investment Advisers, LLC (“CMIA”) and Columbia Wanger Asset
Management, LLC) |
|
|
19,527 |
|
|
|
18,482 |
|
|
|
19,845 |
|
| Unaffiliated |
|
|
272 |
|
|
|
230 |
|
|
|
232 |
|
| |
|
|
19,799 |
|
|
|
18,712 |
|
|
|
20,077 |
|
| Total |
|
|
23,469 |
|
|
|
22,058 |
|
|
|
23,570 |
|
| Total revenue from contracts with customers |
|
|
34,143 |
|
|
|
32,101 |
|
|
|
34,161 |
|
| Revenue from other sources(1) |
|
|
224,624 |
|
|
|
219,936 |
|
|
|
200,202 |
|
| Total revenues |
|
$ |
258,767 |
|
|
$ |
252,037 |
|
|
$ |
234,363 |
|
| (1) |
Amounts primarily consist of revenue associated with insurance and annuity products and investment income from financial
instruments. |
F-14
RiverSource Life Insurance Co. of New York
The following discussion describes the nature, timing, and uncertainty of revenues and cash flows arising from the Company’s contracts with customers.
Policy and Contract Charges
The Company earns
revenue for providing distribution-related services to affiliated and unaffiliated mutual funds that are available as underlying investments in its variable annuity and variable life insurance products. The performance obligation is satisfied at the
time the mutual fund is distributed. Revenue is recognized over the time the mutual fund is held in the variable product and is generally earned based on a fixed rate applied, as a percentage, to the net asset value of the fund. The revenue is not
recognized at the time of sale because it is variably constrained due to factors outside the Company’s control, including market volatility and how long the fund(s) remain in the insurance policy or annuity contract. The revenue will not be
recognized until it is probable that a significant reversal will not occur. These fees are accrued and collected on a monthly basis.
Other Revenues
Administrative Fees
The Company earns revenue
for providing customer support, contract servicing and administrative services for affiliated and unaffiliated mutual funds that are available as underlying instruments in its variable annuity and variable life insurance products. The transfer agent
and administration revenue is earned daily based on a fixed rate applied, as a percentage, to assets under management. These performance obligations are considered a series of distinct services that are substantially the same and are satisfied each
day over the contract term. These fees are accrued and collected on a monthly basis.
Other Fees
The Company earns revenue for providing affiliated and unaffiliated partners an opportunity to educate the financial advisors of its affiliate, AFS, that sell
the Company’s products as well as product and marketing personnel to support the offer, sale and servicing of funds within the Company’s variable annuity and variable life insurance products. These payments allow the parties to train and
support the advisors, explain the features of their products, and distribute marketing and educational materials. The affiliated revenue is earned based on a rate, updated at least annually, which is applied, as a percentage, to the market value of
assets invested. The unaffiliated revenue is earned based on a fixed rate applied, as a percentage, to the market value of assets invested. These performance obligations are considered a series of distinct services that are substantially the same
and are satisfied each day over the contract term. These fees are accrued and collected on a monthly basis.
Receivables
Receivables for revenue from contracts with customers are recognized when the performance obligation is satisfied and the Company has an unconditional right to
the revenue. Receivables related to revenues from contracts with customers were $3.2 million and $2.9 million as of December 31, 2024 and 2023, respectively.
5. INVESTMENTS
Available-for-Sale securities distributed by type were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| Description of Securities (in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized Gains |
|
|
Gross
Unrealized Losses |
|
|
Allowance
for Credit Losses |
|
|
Fair
Value |
|
| Fixed maturities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate debt securities |
|
$ |
902,842 |
|
|
$ |
14,151 |
|
|
$ |
(75,598 |
) |
|
$ |
— |
|
|
$ |
841,395 |
|
| Residential mortgage backed securities |
|
|
264,471 |
|
|
|
146 |
|
|
|
(40,511 |
) |
|
|
— |
|
|
|
224,106 |
|
| Commercial mortgage backed securities |
|
|
283,246 |
|
|
|
— |
|
|
|
(25,417 |
) |
|
|
— |
|
|
|
257,829 |
|
| State and municipal obligations |
|
|
69,925 |
|
|
|
3,528 |
|
|
|
(446 |
) |
|
|
— |
|
|
|
73,007 |
|
| Asset backed securities |
|
|
24,305 |
|
|
|
544 |
|
|
|
(1,359 |
) |
|
|
— |
|
|
|
23,490 |
|
| Foreign government bonds and obligations |
|
|
531 |
|
|
|
54 |
|
|
|
— |
|
|
|
— |
|
|
|
585 |
|
| U.S. government and agency obligations |
|
|
217 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
218 |
|
| Total |
|
$ |
1,545,537 |
|
|
$ |
18,424 |
|
|
$ |
(143,331 |
) |
|
$ |
— |
|
|
$ |
1,420,630 |
|
F-15
RiverSource Life Insurance Co. of New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| Description of Securities (in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized Gains |
|
|
Gross
Unrealized Losses |
|
|
Allowance
for Credit Losses |
|
|
Fair
Value |
|
| Fixed maturities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate debt securities |
|
$ |
951,360 |
|
|
$ |
25,060 |
|
|
$ |
(54,874 |
) |
|
$ |
(365 |
) |
|
$ |
921,181 |
|
| Residential mortgage backed securities |
|
|
290,104 |
|
|
|
187 |
|
|
|
(37,468 |
) |
|
|
— |
|
|
|
252,823 |
|
| Commercial mortgage backed securities |
|
|
322,845 |
|
|
|
— |
|
|
|
(33,099 |
) |
|
|
— |
|
|
|
289,746 |
|
| State and municipal obligations |
|
|
83,146 |
|
|
|
7,417 |
|
|
|
(452 |
) |
|
|
— |
|
|
|
90,111 |
|
| Asset backed securities |
|
|
31,919 |
|
|
|
467 |
|
|
|
(1,648 |
) |
|
|
— |
|
|
|
30,738 |
|
| Foreign government bonds and obligations |
|
|
638 |
|
|
|
84 |
|
|
|
— |
|
|
|
— |
|
|
|
722 |
|
| U.S. government and agency obligations |
|
|
220 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
220 |
|
| Total |
|
$ |
1,680,232 |
|
|
$ |
33,215 |
|
|
$ |
(127,541 |
) |
|
$ |
(365 |
) |
|
$ |
1,585,541 |
|
As of December 31, 2024 and 2023, accrued interest of $13.9 million and $14.9 million, respectively, is excluded
from the amortized cost basis of Available-for-Sale securities in the tables above and is recorded in Accrued investment income.
As of December 31, 2024 and 2023, fixed maturity securities comprised approximately 88% and 89%, respectively, of the Company’s total investments.
Rating agency designations are based on the availability of ratings from Nationally Recognized Statistical Rating Organizations (“NRSROs”), including Moody’s Investors Service (“Moody’s”), Standard &
Poor’s Ratings Services (“S&P”) and Fitch Ratings Ltd. (“Fitch”). The Company uses the median of available ratings from Moody’s, S&P and Fitch, or if fewer than three ratings are available, the lower rating is
used. When ratings from Moody’s, S&P and Fitch are unavailable, the Company may utilize ratings from other NRSROs or rate the securities internally. As of December 31, 2024 and 2023, $9.4 million and $15.8 million,
respectively, of securities were internally rated by CMIA, an affiliate of the Company, using criteria similar to those used by NRSROs.
A summary of fixed
maturity securities by rating was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
|
December 31, 2023 |
|
| Ratings (in thousands, except percentages) |
|
Amortized
Cost |
|
|
Fair
Value |
|
|
Percent of
Total Fair
Value |
|
|
Amortized
Cost |
|
|
Fair
Value |
|
|
Percent of
Total Fair
Value |
|
| AAA |
|
$ |
295,791 |
|
|
$ |
270,009 |
|
|
|
19 |
% |
|
$ |
355,286 |
|
|
$ |
319,280 |
|
|
|
20 |
% |
| AA |
|
|
321,502 |
|
|
|
285,980 |
|
|
|
20 |
|
|
|
344,046 |
|
|
|
315,804 |
|
|
|
20 |
|
| A |
|
|
187,262 |
|
|
|
181,984 |
|
|
|
13 |
|
|
|
175,912 |
|
|
|
179,826 |
|
|
|
11 |
|
| BBB |
|
|
707,754 |
|
|
|
651,579 |
|
|
|
46 |
|
|
|
762,945 |
|
|
|
731,081 |
|
|
|
46 |
|
| Below investment grade |
|
|
33,228 |
|
|
|
31,078 |
|
|
|
2 |
|
|
|
42,043 |
|
|
|
39,550 |
|
|
|
3 |
|
| Total fixed maturities |
|
$ |
1,545,537 |
|
|
$ |
1,420,630 |
|
|
|
100 |
% |
|
$ |
1,680,232 |
|
|
$ |
1,585,541 |
|
|
|
100 |
% |
As of December 31, 2024 and 2023, approximately 74% and 75%, respectively, of securities rated AA were GNMA, FNMA and
FHLMC mortgage backed securities. No holdings of any issuer were greater than 10% of the Company’s total shareholder’s equity as of both December 31, 2024 and 2023.
The following tables summarize the fair value and gross unrealized losses on
Available-for-Sale securities, aggregated by major investment type and the length of time that individual securities have been in a continuous unrealized loss position
for which no allowance for credit losses has been recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
Less than 12 months |
|
|
12 months or more |
|
|
Total |
|
| Description of Securities
(in thousands, except number of securities) |
|
Number of
Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Number of
Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Number of
Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
| Corporate debt securities |
|
|
45 |
|
|
$ |
160,846 |
|
|
$ |
(7,630 |
) |
|
|
151 |
|
|
$ |
515,598 |
|
|
$ |
(67,968 |
) |
|
|
196 |
|
|
$ |
676,444 |
|
|
$ |
(75,598 |
) |
| Residential mortgage backed securities |
|
|
2 |
|
|
|
2,242 |
|
|
|
(94 |
) |
|
|
56 |
|
|
|
215,835 |
|
|
|
(40,417 |
) |
|
|
58 |
|
|
|
218,077 |
|
|
|
(40,511 |
) |
| Commercial mortgage backed securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
86 |
|
|
|
257,829 |
|
|
|
(25,417 |
) |
|
|
86 |
|
|
|
257,829 |
|
|
|
(25,417 |
) |
| State and municipal obligations |
|
|
5 |
|
|
|
3,860 |
|
|
|
(63 |
) |
|
|
9 |
|
|
|
6,372 |
|
|
|
(383 |
) |
|
|
14 |
|
|
|
10,232 |
|
|
|
(446 |
) |
| Asset backed securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9 |
|
|
|
18,493 |
|
|
|
(1,359 |
) |
|
|
9 |
|
|
|
18,493 |
|
|
|
(1,359 |
) |
| Total |
|
|
52 |
|
|
$ |
166,948 |
|
|
$ |
(7,787 |
) |
|
|
311 |
|
|
$ |
1,014,127 |
|
|
$ |
(135,544 |
) |
|
|
363 |
|
|
$ |
1,181,075 |
|
|
$ |
(143,331 |
) |
F-16
RiverSource Life Insurance Co. of New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| |
|
Less than 12 months |
|
|
12 months or more |
|
|
Total |
|
| Description of Securities
(in thousands, except number of securities) |
|
Number of
Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Number of
Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Number of
Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
| Corporate debt securities |
|
|
17 |
|
|
$ |
75,331 |
|
|
$ |
(1,862 |
) |
|
|
176 |
|
|
$ |
518,163 |
|
|
$ |
(53,012 |
) |
|
|
193 |
|
|
$ |
593,494 |
|
|
$ |
(54,874 |
) |
| Residential mortgage backed securities |
|
|
5 |
|
|
|
3,800 |
|
|
|
(48 |
) |
|
|
57 |
|
|
|
242,301 |
|
|
|
(37,420 |
) |
|
|
62 |
|
|
|
246,101 |
|
|
|
(37,468 |
) |
| Commercial mortgage backed securities |
|
|
1 |
|
|
|
7,423 |
|
|
|
(216 |
) |
|
|
97 |
|
|
|
282,323 |
|
|
|
(32,883 |
) |
|
|
98 |
|
|
|
289,746 |
|
|
|
(33,099 |
) |
| State and municipal obligations |
|
|
3 |
|
|
|
2,700 |
|
|
|
(113 |
) |
|
|
10 |
|
|
|
6,501 |
|
|
|
(339 |
) |
|
|
13 |
|
|
|
9,201 |
|
|
|
(452 |
) |
| Asset backed securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
15 |
|
|
|
22,384 |
|
|
|
(1,648 |
) |
|
|
15 |
|
|
|
22,384 |
|
|
|
(1,648 |
) |
| U.S. government and agency obligations |
|
|
1 |
|
|
|
220 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
220 |
|
|
|
— |
|
| Total |
|
|
27 |
|
|
$ |
89,474 |
|
|
$ |
(2,239 |
) |
|
|
355 |
|
|
$ |
1,071,672 |
|
|
$ |
(125,302 |
) |
|
|
382 |
|
|
$ |
1,161,146 |
|
|
$ |
(127,541 |
) |
As part of the Company’s ongoing monitoring process, management determined that the increase in gross unrealized losses on
its Available-for-Sale securities for which an allowance for credit losses has not been recognized during the year ended December 31, 2024 is primarily attributable
to higher interest rates. The Company did not recognize these unrealized losses in earnings because it was determined that such losses were due to non-credit factors. The Company does not intend to sell these
securities and does not believe that it is more likely than not that the Company will be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. As of December 31, 2024 and 2023, approximately
93% and 91%, respectively, of the total of Available-for-Sale securities with gross unrealized losses were considered investment grade.
The following table presents a rollforward of the allowance for credit losses on
Available-for-Sale securities:
|
|
|
|
|
| (in thousands) |
|
Corporate Debt
Securities |
|
| Balance at January 1, 2022 |
|
$ |
— |
|
| Additions for which credit losses were not previously
recorded |
|
|
572 |
|
| Balance at December 31, 2022 |
|
|
572 |
|
| Additions for which credit losses were not previously recorded |
|
|
365 |
|
| Reductions for securities sold during the period (realized) |
|
|
(458 |
) |
| Additional increases (decreases) on securities that had an allowance
recorded in a previous period |
|
|
(114 |
) |
| Balance at December 31, 2023 |
|
|
365 |
|
| Reductions for securities sold during the period (realized) |
|
|
(389 |
) |
| Additional increases (decreases) on securities that had an allowance
recorded in a previous period |
|
|
24 |
|
| Balance at December 31, 2024 |
|
$ |
— |
|
Net realized gains and losses on
Available-for-Sale securities, determined using the specific identification method, recognized in Net realized investment gains (losses) were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Gross realized investment gains |
|
$ |
403 |
|
|
$ |
93 |
|
|
$ |
1,316 |
|
| Gross realized investment losses |
|
|
(1,317 |
) |
|
|
(524 |
) |
|
|
(3,234 |
) |
| Credit reversals (losses) |
|
|
365 |
|
|
|
207 |
|
|
|
(572 |
) |
| Other impairments |
|
|
— |
|
|
|
— |
|
|
|
(856 |
) |
| Total |
|
$ |
(549 |
) |
|
$ |
(224 |
) |
|
$ |
(3,346 |
) |
For the year ended December 31, 2024, net credit reversals primarily related to the sale of a previously impaired
corporate debt security in the communications industry. For the year ended December 31, 2023, net credit reversals primarily related to the reversal of a previously recorded allowance for credit losses due to the sale of a corporate debt
security in the communications industry partially offset by recording an allowance for credit losses of another corporate debt security in the communications industry. For the year ended December 31, 2022, credit losses primarily related to
recording an allowance for credit losses on a corporate debt security in the communications industry. Other impairments for the year ended December 31, 2022 related to
Available-for-Sale securities which the Company intended to sell.
See Note
17 for a rollforward of net unrealized investment gains (losses) included in AOCI.
F-17
RiverSource Life Insurance Co. of New York
Available-for-Sale securities by contractual maturity as of December 31,
2024 were as follows:
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Amortized
Cost |
|
|
Fair
Value |
|
| Due within one year |
|
$ |
70,900 |
|
|
$ |
70,552 |
|
| Due after one year through five years |
|
|
133,792 |
|
|
|
128,180 |
|
| Due after five years through 10 years |
|
|
144,020 |
|
|
|
131,437 |
|
| Due after 10 years |
|
|
624,803 |
|
|
|
585,036 |
|
|
|
|
973,515 |
|
|
|
915,205 |
|
| Residential mortgage backed securities |
|
|
264,471 |
|
|
|
224,106 |
|
| Commercial mortgage backed securities |
|
|
283,246 |
|
|
|
257,829 |
|
| Asset backed securities |
|
|
24,305 |
|
|
|
23,490 |
|
| Total |
|
$ |
1,545,537 |
|
|
$ |
1,420,630 |
|
Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations.
Residential mortgage backed securities, commercial mortgage backed securities and asset backed securities are not due at a single maturity date. As such, these securities were not included in the maturities distribution.
The following is a summary of Net investment income:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Fixed maturities |
|
$ |
65,545 |
|
|
$ |
66,737 |
|
|
$ |
60,796 |
|
| Mortgage loans |
|
|
5,649 |
|
|
|
6,080 |
|
|
|
6,419 |
|
| Other investments |
|
|
13,094 |
|
|
|
13,384 |
|
|
|
6,926 |
|
|
|
|
84,288 |
|
|
|
86,201 |
|
|
|
74,141 |
|
| Less: investment expenses |
|
|
1,471 |
|
|
|
1,616 |
|
|
|
1,932 |
|
| Total |
|
$ |
82,817 |
|
|
$ |
84,585 |
|
|
$ |
72,209 |
|
Net realized investment gains (losses) are summarized as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Fixed maturities |
|
$ |
(549 |
) |
|
$ |
(224 |
) |
|
$ |
(3,346 |
) |
| Mortgage loans |
|
|
130 |
|
|
|
411 |
|
|
|
(106 |
) |
| Total |
|
$ |
(419 |
) |
|
$ |
187 |
|
|
$ |
(3,452 |
) |
6. FINANCING RECEIVABLES
Financing receivables are comprised of mortgage loans and policy loans. See Note 2 for information regarding the Company’s accounting policies related to
financing receivables and the allowance for credit losses.
Allowance for Credit Losses
The following table presents a rollforward of the allowance for credit losses:
|
|
|
|
|
| (in thousands) |
|
Mortgage
Loans |
|
| Balance at January 1, 2022 |
|
$ |
859 |
|
| Provisions |
|
|
106 |
|
| Balance at December 31, 2022 |
|
|
965 |
|
| Provisions |
|
|
(411 |
) |
| Balance at December 31, 2023 |
|
|
554 |
|
| Provisions |
|
|
(130 |
) |
| Balance at December 31, 2024 |
|
$ |
424 |
|
As of December 31, 2024 and 2023, accrued interest on mortgage loans was $432 thousand and $474 thousand,
respectively, and is recorded in Accrued investment income and excluded from the amortized cost basis of mortgage loans.
Credit Quality Information
There were no nonperforming loans as of both December 31, 2024 and 2023. All loans were considered to be performing.
Mortgage Loans
The Company reviews the credit worthiness
of the borrower and the performance of the underlying properties in order to determine the risk of loss on mortgage loans. Loan-to-value ratio is the primary credit
quality indicator included in this review.
F-18
RiverSource Life Insurance Co. of New York
Based on this review, the mortgage loans are assigned an internal risk rating, which management updates when credit risk changes. There were no mortgage loans
which management has assigned its highest risk rating as of both December 31, 2024 and 2023. Loans with the highest risk rating represent distressed loans which the Company has identified as impaired or expects to become delinquent or enter
into foreclosure within the next six months. There were no mortgage loans past due as of both December 31, 2024 and 2023.
The tables below present
the amortized cost basis of mortgage loans by year of origination and loan-to-value ratio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
Prior |
|
|
Total |
|
| Loan-to-Value
Ratio |
|
|
|
|
| >100% |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| 80% – 100% |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| 60% – 80% |
|
|
2,987 |
|
|
|
— |
|
|
|
4,111 |
|
|
|
— |
|
|
|
5,418 |
|
|
|
5,108 |
|
|
|
17,624 |
|
| 40% – 60% |
|
|
— |
|
|
|
— |
|
|
|
2,755 |
|
|
|
2,384 |
|
|
|
6,366 |
|
|
|
28,864 |
|
|
|
40,369 |
|
| <40% |
|
|
— |
|
|
|
1,414 |
|
|
|
1,100 |
|
|
|
2,881 |
|
|
|
8,324 |
|
|
|
59,538 |
|
|
|
73,257 |
|
| Total |
|
$ |
2,987 |
|
|
$ |
1,414 |
|
|
$ |
7,966 |
|
|
$ |
5,265 |
|
|
$ |
20,108 |
|
|
$ |
93,510 |
|
|
$ |
131,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| (in thousands) |
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Prior |
|
|
Total |
|
| Loan-to-Value
Ratio |
|
|
|
|
| >100% |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| 80% – 100% |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,988 |
|
|
|
— |
|
|
|
2,118 |
|
|
|
4,106 |
|
| 60% – 80% |
|
|
— |
|
|
|
5,810 |
|
|
|
— |
|
|
|
3,671 |
|
|
|
2,481 |
|
|
|
7,027 |
|
|
|
18,989 |
|
| 40% – 60% |
|
|
— |
|
|
|
2,350 |
|
|
|
2,433 |
|
|
|
6,546 |
|
|
|
5,466 |
|
|
|
30,058 |
|
|
|
46,853 |
|
| <40% |
|
|
1,488 |
|
|
|
— |
|
|
|
2,981 |
|
|
|
8,651 |
|
|
|
10,287 |
|
|
|
52,109 |
|
|
|
75,516 |
|
| Total |
|
$ |
1,488 |
|
|
$ |
8,160 |
|
|
$ |
5,414 |
|
|
$ |
20,856 |
|
|
$ |
18,234 |
|
|
$ |
91,312 |
|
|
$ |
145,464 |
|
Loan-to-value ratio is based on income and
expense data provided by borrowers at least annually and long-term capitalization rate assumptions based on property type. For the year ended December 31, 2024, the Company did not have any write-offs of mortgage loans.
In addition, the Company reviews the concentrations of credit risk by region and property type. Concentrations of credit risk of mortgage loans by U.S. region
were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Loans |
|
|
|
|
|
Percentage |
|
| |
|
December 31, |
|
|
|
|
|
December 31, |
|
| (in thousands) |
|
2024 |
|
|
|
|
|
2023 |
|
|
|
|
|
2024 |
|
|
|
|
|
2023 |
|
| East North Central |
|
$ |
10,463 |
|
|
|
|
|
|
$ |
12,125 |
|
|
|
|
|
|
|
8 |
% |
|
|
|
|
|
|
8 |
% |
| East South Central |
|
|
4,520 |
|
|
|
|
|
|
|
4,904 |
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
3 |
|
| Middle Atlantic |
|
|
15,236 |
|
|
|
|
|
|
|
17,055 |
|
|
|
|
|
|
|
12 |
|
|
|
|
|
|
|
12 |
|
| Mountain |
|
|
15,563 |
|
|
|
|
|
|
|
20,907 |
|
|
|
|
|
|
|
12 |
|
|
|
|
|
|
|
14 |
|
| New England |
|
|
3,382 |
|
|
|
|
|
|
|
3,527 |
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
3 |
|
| Pacific |
|
|
41,816 |
|
|
|
|
|
|
|
44,912 |
|
|
|
|
|
|
|
32 |
|
|
|
|
|
|
|
31 |
|
| South Atlantic |
|
|
26,828 |
|
|
|
|
|
|
|
25,135 |
|
|
|
|
|
|
|
20 |
|
|
|
|
|
|
|
17 |
|
| West North Central |
|
|
8,202 |
|
|
|
|
|
|
|
10,224 |
|
|
|
|
|
|
|
6 |
|
|
|
|
|
|
|
7 |
|
| West South Central |
|
|
5,240 |
|
|
|
|
|
|
|
6,675 |
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
5 |
|
| Total |
|
$ |
131,250 |
|
|
|
|
|
|
$ |
145,464 |
|
|
|
|
|
|
|
100 |
% |
|
|
|
|
|
|
100 |
% |
Concentrations of credit risk of mortgage loans by property type were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Loans |
|
|
|
|
|
Percentage |
|
| |
|
December 31, |
|
|
|
|
|
December 31, |
|
| (in thousands) |
|
2024 |
|
|
|
|
|
2023 |
|
|
|
|
|
2024 |
|
|
|
|
|
2023 |
|
| Apartments |
|
$ |
42,598 |
|
|
|
|
|
|
$ |
45,692 |
|
|
|
|
|
|
|
33 |
% |
|
|
|
|
|
|
32 |
% |
| Industrial |
|
|
23,951 |
|
|
|
|
|
|
|
27,264 |
|
|
|
|
|
|
|
18 |
|
|
|
|
|
|
|
19 |
|
| Mixed use |
|
|
5,575 |
|
|
|
|
|
|
|
5,882 |
|
|
|
|
|
|
|
4 |
|
|
|
|
|
|
|
4 |
|
| Office |
|
|
16,088 |
|
|
|
|
|
|
|
17,849 |
|
|
|
|
|
|
|
12 |
|
|
|
|
|
|
|
12 |
|
| Retail |
|
|
34,710 |
|
|
|
|
|
|
|
39,748 |
|
|
|
|
|
|
|
27 |
|
|
|
|
|
|
|
27 |
|
| Other |
|
|
8,328 |
|
|
|
|
|
|
|
9,029 |
|
|
|
|
|
|
|
6 |
|
|
|
|
|
|
|
6 |
|
| Total |
|
$ |
131,250 |
|
|
|
|
|
|
$ |
145,464 |
|
|
|
|
|
|
|
100 |
% |
|
|
|
|
|
|
100 |
% |
F-19
RiverSource Life Insurance Co. of New York
Policy Loans
Policy loans do not exceed the cash
surrender value at origination. As there is minimal risk of loss related to policy loans, there is no allowance for credit losses.
Modifications with
Borrowers Experiencing Financial Difficulty
There were no modifications of financing receivables with borrowers experiencing financial difficulty by
the Company during the years ended December 31, 2024 and 2023.
7. DEFERRED ACQUISITION COSTS AND DEFERRED SALES INDUCEMENT COSTS
The following tables summarize the balances of and changes in DAC:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Variable
Annuities |
|
|
Fixed
Annuities |
|
|
Universal
Life
Insurance |
|
|
Variable
Universal
Life
Insurance |
|
|
Indexed
Universal Life
Insurance |
|
| Balance at January 1, 2024 |
|
$ |
105,559 |
|
|
$ |
2,569 |
|
|
$ |
5,897 |
|
|
$ |
28,611 |
|
|
$ |
17,858 |
|
| Capitalization of acquisition costs |
|
|
4,264 |
|
|
|
— |
|
|
|
23 |
|
|
|
3,693 |
|
|
|
355 |
|
| Amortization |
|
|
(8,805 |
) |
|
|
(467 |
) |
|
|
(436 |
) |
|
|
(2,415 |
) |
|
|
(1,312 |
) |
| Balance at December 31, 2024 |
|
$ |
101,018 |
|
|
$ |
2,102 |
|
|
$ |
5,484 |
|
|
$ |
29,889 |
|
|
$ |
16,901 |
|
|
|
|
|
|
|
| (in thousands) |
|
Other Life
Insurance |
|
|
Life
Contingent
Payout
Annuities |
|
|
Term and
Whole Life
Insurance |
|
|
Disability
Income
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2024 |
|
$ |
79 |
|
|
$ |
264 |
|
|
$ |
807 |
|
|
$ |
5,289 |
|
|
$ |
166,933 |
|
| Capitalization of acquisition costs |
|
|
— |
|
|
|
340 |
|
|
|
39 |
|
|
|
195 |
|
|
|
8,909 |
|
| Amortization |
|
|
(8 |
) |
|
|
(27 |
) |
|
|
(63 |
) |
|
|
(613 |
) |
|
|
(14,146 |
) |
| Balance at December 31, 2024 |
|
$ |
71 |
|
|
$ |
577 |
|
|
$ |
783 |
|
|
$ |
4,871 |
|
|
$ |
161,696 |
|
|
|
|
|
|
|
| (in thousands) |
|
Variable
Annuities |
|
|
Fixed
Annuities |
|
|
Universal
Life
Insurance |
|
|
Variable
Universal
Life
Insurance |
|
|
Indexed
Universal Life
Insurance |
|
| Balance at January 1, 2023 |
|
$ |
110,920 |
|
|
$ |
3,350 |
|
|
$ |
6,338 |
|
|
$ |
27,871 |
|
|
$ |
18,837 |
|
| Capitalization of acquisition costs |
|
|
3,760 |
|
|
|
— |
|
|
|
21 |
|
|
|
3,117 |
|
|
|
383 |
|
| Amortization |
|
|
(9,121 |
) |
|
|
(781 |
) |
|
|
(462 |
) |
|
|
(2,377 |
) |
|
|
(1,362 |
) |
| Balance at December 31, 2023 |
|
$ |
105,559 |
|
|
$ |
2,569 |
|
|
$ |
5,897 |
|
|
$ |
28,611 |
|
|
$ |
17,858 |
|
|
|
|
|
|
|
| (in thousands) |
|
Other Life
Insurance |
|
|
Life
Contingent
Payout
Annuities |
|
|
Term and
Whole Life
Insurance |
|
|
Disability
Income
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2023 |
|
$ |
88 |
|
|
$ |
101 |
|
|
$ |
814 |
|
|
$ |
5,719 |
|
|
$ |
174,038 |
|
| Capitalization of acquisition costs |
|
|
— |
|
|
|
175 |
|
|
|
56 |
|
|
|
205 |
|
|
|
7,717 |
|
| Amortization |
|
|
(9 |
) |
|
|
(12 |
) |
|
|
(63 |
) |
|
|
(635 |
) |
|
|
(14,822 |
) |
| Balance at December 31, 2023 |
|
$ |
79 |
|
|
$ |
264 |
|
|
$ |
807 |
|
|
$ |
5,289 |
|
|
$ |
166,933 |
|
The following tables summarize the balances of and changes in DSIC:
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Variable Annuities |
|
|
Fixed Annuities |
|
|
Total, All Products |
|
| Balance at January 1, 2024 |
|
$ |
5,950 |
|
|
$ |
771 |
|
|
$ |
6,721 |
|
| Amortization |
|
|
(584 |
) |
|
|
(147 |
) |
|
|
(731 |
) |
| Balance at December 31, 2024 |
|
$ |
5,366 |
|
|
$ |
624 |
|
|
$ |
5,990 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Variable Annuities |
|
|
Fixed Annuities |
|
|
Total, All Products |
|
| Balance at January 1, 2023 |
|
$ |
6,589 |
|
|
$ |
1,006 |
|
|
$ |
7,595 |
|
| Amortization |
|
|
(639 |
) |
|
|
(235 |
) |
|
|
(874 |
) |
| Balance at December 31, 2023 |
|
$ |
5,950 |
|
|
$ |
771 |
|
|
$ |
6,721 |
|
F-20
RiverSource Life Insurance Co. of New York
8. REINSURANCE
The Company reinsures a portion of its
insurance risks through reinsurance agreements with unaffiliated reinsurance companies.
Reinsurance contracts do not relieve the Company from its primary
obligation to policyholders.
The Company generally reinsures 90% of the death benefit liability for new term life insurance policies beginning in 2002 and
new individual UL and VUL insurance policies beginning in 2003. Policies issued prior to these dates are not subject to these same reinsurance levels.
For
IUL policies issued after September 1, 2013 and VUL policies issued after January 1, 2014, the Company generally reinsures 50% of the death benefit liability.
The maximum amount of life insurance risk the Company will retain is $10 million on a single life and $10 million on any flexible premium
survivorship life policy; however, reinsurance agreements are in place such that retaining more than $1.5 million of insurance risk on a single life or a flexible premium survivorship life policy is very unusual. Risk on UL and VUL policies is
reinsured on a yearly renewable term basis. Risk on most term life policies starting in 2002 is reinsured on a coinsurance basis, a type of reinsurance in which the reinsurer participates proportionally in all material risks and premiums associated
with a policy.
The Company also has life insurance risk previously assumed under reinsurance arrangements with an unaffiliated insurance company.
As of December 31, 2002, the Company discontinued underwriting LTC insurance. For existing LTC policies, the Company has continued ceding 50% of the risk
on a coinsurance basis to Genworth Life Insurance Company of New York (“Genworth”) and retains the remaining risk. This reinsurance arrangement applies for 1996 and later issues only, which are about 90% of the Company’s total in
force policies. Under these agreements, the Company has the right, but never the obligation, to recapture some, or all, of the risk ceded to Genworth.
Generally, the Company retains at most $5,000 per month of risk per life on DI policies sold on policy forms introduced in 2010 and reinsures the remainder of
the risk on a coinsurance basis with unaffiliated reinsurance companies. The Company retains all risk for new claims on DI contracts sold prior to 2010. The Company also retains all risk on accidental death benefit claims and substantially all risk
associated with waiver of premium provisions.
As of December 31, 2024 and 2023, traditional life and UL insurance policies in force were
$11.2 billion and $11.4 billion, respectively, of which $7.9 billion and $8.0 billion as of December 31, 2024 and 2023 were reinsured at the respective year ends.
The effect of reinsurance on premiums for traditional long-duration products was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Direct premiums |
|
$ |
37,884 |
|
|
$ |
32,254 |
|
|
$ |
27,673 |
|
| Reinsurance ceded |
|
|
(10,749 |
) |
|
|
(10,841 |
) |
|
|
(10,980 |
) |
| Net premiums |
|
$ |
27,135 |
|
|
$ |
21,413 |
|
|
$ |
16,693 |
|
Policy and contract charges are presented on the Statements of Income net of $11.6 million, $11.0 million and
$10.3 million of reinsurance ceded for non-traditional long-duration products for the years ended December 31, 2024, 2023 and 2022, respectively.
The amount of claims recovered through reinsurance on all contracts was $20.3 million, $22.6 million and $20.4 million for the years ended
December 31, 2024, 2023 and 2022, respectively.
Reinsurance recoverables include approximately $146.7 million and $156.7 million related to
LTC risk ceded to Genworth as of December 31, 2024 and 2023, respectively.
Policyholder account balances, future policy benefits and claims include
$981 thousand and $1.1 million related to previously assumed reinsurance arrangements as of December 31, 2024 and 2023, respectively.
F-21
RiverSource Life Insurance Co. of New York
9. POLICYHOLDER ACCOUNT BALANCES, FUTURE POLICY BENEFITS AND CLAIMS
Policyholder account balances, future policy benefits and claims consisted of the following:
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
| Policyholder account balances |
|
|
|
|
|
|
|
|
| Policyholder account balances |
|
$ |
1,266,039 |
|
|
$ |
1,322,686 |
|
| Future policy benefits |
|
|
|
|
|
|
|
|
| Reserve for future policy benefits |
|
|
452,282 |
|
|
|
480,237 |
|
| Deferred profit liability |
|
|
8,412 |
|
|
|
5,772 |
|
| Additional liabilities for insurance guarantees |
|
|
93,655 |
|
|
|
86,365 |
|
| Other insurance and annuity liabilities |
|
|
14,399 |
|
|
|
12,043 |
|
| Total future policy benefits |
|
|
568,748 |
|
|
|
584,417 |
|
| Policy claims and other policyholders’ funds |
|
|
8,785 |
|
|
|
9,896 |
|
| Total policyholder account balances, future policy benefits and
claims |
|
$ |
1,843,572 |
|
|
$ |
1,916,999 |
|
Variable Annuities
Purchasers of variable annuities can select from a variety of investment options and can elect to allocate a portion to a fixed account. A vast majority of the
premiums received for variable annuity contracts are held in separate accounts where the assets are held for the exclusive benefit of those contractholders.
Most of the variable annuity contracts issued by the Company contain a GMDB. The Company previously offered contracts with GMAB, GMWB and GMIB provisions. See
Note 2 and Note 11 for information regarding the Company’s variable annuity guarantees. See Note 12 and Note 16 for additional information regarding the Company’s derivative instruments used to hedge risks related to these guarantees.
Fixed Annuities
Fixed annuities include both deferred and
payout contracts. In 2020, the Company discontinued sales of fixed deferred annuities.
Deferred contracts offer a guaranteed minimum rate of interest and
security of the principal invested. Payout contracts guarantee a fixed income payment for life or the term of the contract. Liabilities for fixed annuities in a benefit or payout status are based on future estimated payments using established
industry mortality tables and interest rates.
Insurance Liabilities
UL policies accumulate cash value that increases by a fixed interest rate. Purchasers of VUL can select from a variety of investment options and can elect to
allocate a portion of their account balance to a fixed account or a separate account. A vast majority of the premiums received for VUL policies are held in separate accounts where the assets are held for the exclusive benefit of those policyholders.
IUL is a UL policy that includes an indexed account. The rate of credited interest for funds allocated by a contractholder to the indexed account is
linked to the performance of the specific index for the indexed account (subject to stated account parameters, which include a cap and floor, or a spread). The policyholder may allocate all or a portion of the policy value to a fixed or any
available indexed account. The amount allocated by a contractholder to the indexed account creates an embedded derivative which is measured at fair value. The Company hedges the interest credited rate including equity and interest rate risk related
to the indexed account with freestanding derivative instruments. See Note 16 for additional information regarding the Company’s derivative instruments used to hedge the risk related to IUL.
The Company also offers term life insurance as well as DI products. The Company no longer offers standalone LTC products and whole life insurance but has in
force policies from prior years.
Insurance liabilities include accumulation values, incurred but not reported claims, obligations for anticipated future
claims, unpaid reported claims and claim adjustment expenses.
F-22
RiverSource Life Insurance Co. of New York
The balances of and changes in policyholder account balances were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Variable Annuities |
|
|
Fixed
Annuities |
|
|
Non-Life
Contingent
Payout
Annuities |
|
|
Universal Life
Insurance |
|
| Balance at January 1, 2024 |
|
$ |
251,056 |
|
|
$ |
677,635 |
|
|
$ |
25,052 |
|
|
$ |
87,208 |
|
| Contract deposits |
|
|
5,145 |
|
|
|
6,120 |
|
|
|
6,530 |
|
|
|
8,859 |
|
| Policy charges |
|
|
(776 |
) |
|
|
(26 |
) |
|
|
— |
|
|
|
(12,182 |
) |
| Surrenders and other benefits |
|
|
(36,893 |
) |
|
|
(72,274 |
) |
|
|
(6,642 |
) |
|
|
(3,427 |
) |
| Net transfer from (to) separate account liabilities |
|
|
(3,807 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Interest credited |
|
|
7,470 |
|
|
|
25,572 |
|
|
|
833 |
|
|
|
2,974 |
|
| Balance at December 31, 2024 |
|
$ |
222,195 |
|
|
$ |
637,027 |
|
|
$ |
25,773 |
|
|
$ |
83,432 |
|
| Weighted-average crediting rate |
|
|
3.2 |
% |
|
|
4.0 |
% |
|
|
N/A |
|
|
|
3.4 |
% |
| Net amount at risk |
|
|
N/A |
|
|
|
N/A |
|
|
|
N/A |
|
|
$ |
569,918 |
|
| Cash surrender value(1) |
|
$ |
219,310 |
|
|
$ |
636,172 |
|
|
|
N/A |
|
|
$ |
74,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Variable Universal
Life Insurance |
|
|
Indexed
Universal
Life
Insurance |
|
|
Other Life
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2024 |
|
$ |
97,977 |
|
|
$ |
159,277 |
|
|
$ |
24,481 |
|
|
$ |
1,322,686 |
|
| Contract deposits |
|
|
19,468 |
|
|
|
13,651 |
|
|
|
— |
|
|
|
59,773 |
|
| Policy charges |
|
|
(6,339 |
) |
|
|
(8,412 |
) |
|
|
— |
|
|
|
(27,735 |
) |
| Surrenders and other benefits |
|
|
(4,086 |
) |
|
|
(3,355 |
) |
|
|
(1,466 |
) |
|
|
(128,143 |
) |
| Net transfer from (to) separate account liabilities |
|
|
(7,702 |
) |
|
|
— |
|
|
|
— |
|
|
|
(11,509 |
) |
| Interest credited |
|
|
3,923 |
|
|
|
9,297 |
|
|
|
898 |
|
|
|
50,967 |
|
| Balance at December 31, 2024 |
|
$ |
103,241 |
|
|
$ |
170,458 |
|
|
$ |
23,913 |
|
|
$ |
1,266,039 |
|
| Weighted-average crediting rate |
|
|
4.0 |
% |
|
|
2.3 |
% |
|
|
4.0 |
% |
|
|
|
|
| Net amount at risk |
|
$ |
3,021,978 |
|
|
$ |
917,731 |
|
|
$ |
9,876 |
|
|
|
|
|
| Cash surrender value(1) |
|
$ |
70,021 |
|
|
$ |
147,686 |
|
|
$ |
18,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Variable Annuities |
|
|
Fixed
Annuities |
|
|
Non-Life
Contingent
Payout
Annuities |
|
|
Universal Life
Insurance |
|
| Balance at January 1, 2023 |
|
$ |
267,080 |
|
|
$ |
730,919 |
|
|
$ |
27,698 |
|
|
$ |
90,510 |
|
| Contract deposits |
|
|
9,736 |
|
|
|
8,023 |
|
|
|
4,254 |
|
|
|
9,224 |
|
| Policy charges |
|
|
(554 |
) |
|
|
(45 |
) |
|
|
— |
|
|
|
(12,393 |
) |
| Surrenders and other benefits |
|
|
(30,401 |
) |
|
|
(88,051 |
) |
|
|
(7,521 |
) |
|
|
(3,147 |
) |
| Net transfer from (to) separate account liabilities |
|
|
(3,010 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Interest credited |
|
|
8,205 |
|
|
|
26,789 |
|
|
|
621 |
|
|
|
3,014 |
|
| Balance at December 31, 2023 |
|
$ |
251,056 |
|
|
$ |
677,635 |
|
|
$ |
25,052 |
|
|
$ |
87,208 |
|
| Weighted-average crediting rate |
|
|
3.2 |
% |
|
|
3.9 |
% |
|
|
N/A |
|
|
|
3.4 |
% |
| Net amount at risk |
|
|
N/A |
|
|
|
N/A |
|
|
|
N/A |
|
|
$ |
592,770 |
|
| Cash surrender value(1) |
|
$ |
247,881 |
|
|
$ |
676,453 |
|
|
|
N/A |
|
|
$ |
76,809 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Variable Universal
Life Insurance |
|
|
Indexed
Universal
Life
Insurance |
|
|
Other Life
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2023 |
|
$ |
98,080 |
|
|
$ |
152,485 |
|
|
$ |
25,984 |
|
|
$ |
1,392,756 |
|
| Contract deposits |
|
|
10,495 |
|
|
|
13,828 |
|
|
|
— |
|
|
|
55,560 |
|
| Policy charges |
|
|
(6,655 |
) |
|
|
(8,081 |
) |
|
|
— |
|
|
|
(27,728 |
) |
| Surrenders and other benefits |
|
|
(4,774 |
) |
|
|
(3,765 |
) |
|
|
(2,477 |
) |
|
|
(140,136 |
) |
| Net transfer from (to) separate account liabilities |
|
|
(2,897 |
) |
|
|
— |
|
|
|
— |
|
|
|
(5,907 |
) |
| Interest credited |
|
|
3,728 |
|
|
|
4,810 |
|
|
|
974 |
|
|
|
48,141 |
|
| Balance at December 31, 2023 |
|
$ |
97,977 |
|
|
$ |
159,277 |
|
|
$ |
24,481 |
|
|
$ |
1,322,686 |
|
| Weighted-average crediting rate |
|
|
4.0 |
% |
|
|
2.0 |
% |
|
|
4.0 |
% |
|
|
|
|
| Net amount at risk |
|
$ |
3,049,078 |
|
|
$ |
951,825 |
|
|
$ |
10,233 |
|
|
|
|
|
| Cash surrender value(1) |
|
$ |
69,218 |
|
|
$ |
135,122 |
|
|
$ |
18,716 |
|
|
|
|
|
| (1) |
Cash surrender value represents the amount of the contractholder’s account balances distributable at the balance
sheet date less certain surrender charges. For variable annuities and VUL, the cash surrender value shown is the proportion of the total cash surrender value related to their fixed account liabilities. |
F-23
RiverSource Life Insurance Co. of New York
Refer to Note 11 for the net amount at risk for market risk benefits associated with variable annuities. Fixed and
non-life contingent payout annuities do not have net amount at risk in excess of account value. Net amount at risk for insurance products is calculated as the death benefit amount in excess of applicable
account values, host, embedded derivative and separate account liabilities.
The following tables present the account values of fixed deferred annuities,
fixed insurance, and the fixed portion of variable annuities and variable insurance contracts by range of guaranteed minimum interest rates (“GMIRs”) and the range of the difference between rates credited to policyholders and
contractholders as of December 31, 2024 and 2023 and the respective guaranteed minimums, as well as the percentage of account values subject to rate reset in the time period indicated. Rates are reset at management’s discretion, subject to
guaranteed minimums.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
|
|
|
Account Values with Crediting Rates |
|
| (in thousands, except percentages) |
|
Range of Guaranteed
Minimum Crediting
Rates |
|
|
At
Guaranteed
Minimum |
|
|
1-49 bps above
Guaranteed
Minimum |
|
|
50-99 bps above
Guaranteed
Minimum |
|
|
100-150 bps
above
Guaranteed
Minimum |
|
|
Greater than
150 bps above
Guaranteed
Minimum |
|
|
Total |
|
| Fixed accounts of variable annuities |
|
|
1% – 1.99% |
|
|
$ |
2,059 |
|
|
$ |
9,655 |
|
|
$ |
7,152 |
|
|
$ |
5,074 |
|
|
$ |
126 |
|
|
$ |
24,066 |
|
|
|
|
2% – 2.99% |
|
|
|
4,904 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,904 |
|
|
|
|
3% – 3.99% |
|
|
|
102,364 |
|
|
|
67 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
102,431 |
|
|
|
|
4% – 5.00% |
|
|
|
85,029 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
85,029 |
|
|
|
|
Total |
|
|
$ |
194,356 |
|
|
$ |
9,722 |
|
|
$ |
7,152 |
|
|
$ |
5,074 |
|
|
$ |
126 |
|
|
$ |
216,430 |
|
| Fixed annuities |
|
|
1% – 1.99% |
|
|
$ |
6,132 |
|
|
$ |
12,131 |
|
|
$ |
13,918 |
|
|
$ |
6,307 |
|
|
$ |
3,114 |
|
|
$ |
41,602 |
|
|
|
|
2% – 2.99% |
|
|
|
572 |
|
|
|
105 |
|
|
|
13 |
|
|
|
— |
|
|
|
— |
|
|
|
690 |
|
|
|
|
3% – 3.99% |
|
|
|
267,561 |
|
|
|
148 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
267,709 |
|
|
|
|
4% – 5.00% |
|
|
|
326,709 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
326,709 |
|
|
|
|
Total |
|
|
$ |
600,974 |
|
|
$ |
12,384 |
|
|
$ |
13,931 |
|
|
$ |
6,307 |
|
|
$ |
3,114 |
|
|
$ |
636,710 |
|
| Universal life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
2% – 2.99% |
|
|
|
3,389 |
|
|
|
148 |
|
|
|
743 |
|
|
|
7 |
|
|
|
44 |
|
|
|
4,331 |
|
|
|
|
3% – 3.99% |
|
|
|
45,770 |
|
|
|
45 |
|
|
|
254 |
|
|
|
659 |
|
|
|
— |
|
|
|
46,728 |
|
|
|
|
4% – 5.00% |
|
|
|
29,958 |
|
|
|
179 |
|
|
|
11 |
|
|
|
— |
|
|
|
— |
|
|
|
30,148 |
|
|
|
|
Total |
|
|
$ |
79,117 |
|
|
$ |
372 |
|
|
$ |
1,008 |
|
|
$ |
666 |
|
|
$ |
44 |
|
|
$ |
81,207 |
|
| Fixed accounts of variable universal life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
244 |
|
|
$ |
104 |
|
|
$ |
1,667 |
|
|
$ |
2,015 |
|
|
|
|
2% – 2.99% |
|
|
|
376 |
|
|
|
803 |
|
|
|
— |
|
|
|
33 |
|
|
|
452 |
|
|
|
1,664 |
|
|
|
|
3% – 3.99% |
|
|
|
5,637 |
|
|
|
32 |
|
|
|
93 |
|
|
|
692 |
|
|
|
— |
|
|
|
6,454 |
|
|
|
|
4% – 5.00% |
|
|
|
42,983 |
|
|
|
564 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
43,547 |
|
|
|
|
Total |
|
|
$ |
48,996 |
|
|
$ |
1,399 |
|
|
$ |
337 |
|
|
$ |
829 |
|
|
$ |
2,119 |
|
|
$ |
53,680 |
|
| Non-indexed accounts of indexed universal life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
376 |
|
|
$ |
128 |
|
|
$ |
— |
|
|
$ |
504 |
|
|
|
|
2% – 2.99% |
|
|
|
— |
|
|
|
9,783 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,783 |
|
|
|
|
3% – 3.99% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
4% – 5.00% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
Total |
|
|
$ |
— |
|
|
$ |
9,783 |
|
|
$ |
376 |
|
|
$ |
128 |
|
|
$ |
— |
|
|
$ |
10,287 |
|
| Other life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
2% – 2.99% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
3% – 3.99% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
4% – 5.00% |
|
|
|
18,207 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
18,207 |
|
|
|
|
Total |
|
|
$ |
18,207 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
18,207 |
|
| Total |
|
|
1% – 1.99% |
|
|
$ |
8,191 |
|
|
$ |
21,786 |
|
|
$ |
21,690 |
|
|
$ |
11,613 |
|
|
$ |
4,907 |
|
|
$ |
68,187 |
|
|
|
|
2% – 2.99% |
|
|
|
9,241 |
|
|
|
10,839 |
|
|
|
756 |
|
|
|
40 |
|
|
|
496 |
|
|
|
21,372 |
|
|
|
|
3% – 3.99% |
|
|
|
421,332 |
|
|
|
292 |
|
|
|
347 |
|
|
|
1,351 |
|
|
|
— |
|
|
|
423,322 |
|
|
|
|
4% – 5.00% |
|
|
|
502,886 |
|
|
|
743 |
|
|
|
11 |
|
|
|
— |
|
|
|
— |
|
|
|
503,640 |
|
|
|
|
Total |
|
|
$ |
941,650 |
|
|
$ |
33,660 |
|
|
$ |
22,804 |
|
|
$ |
13,004 |
|
|
$ |
5,403 |
|
|
$ |
1,016,521 |
|
| Percentage of total account values that reset in: |
|
| Next 12 months |
|
|
|
|
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
| >12 months to 24 months |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| >24 months |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total |
|
|
|
|
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
F-24
RiverSource Life Insurance Co. of New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| |
|
|
|
|
Account Values with Crediting Rates |
|
| (in thousands, except percentages) |
|
Range of Guaranteed
Minimum Crediting
Rates |
|
|
At
Guaranteed
Minimum |
|
|
1-49 bps above
Guaranteed
Minimum |
|
|
50-99 bps above
Guaranteed
Minimum |
|
|
100-150 bps
above
Guaranteed
Minimum |
|
|
Greater than
150 bps above
Guaranteed
Minimum |
|
|
Total |
|
| Fixed accounts of variable annuities |
|
|
1% – 1.99% |
|
|
$ |
3,762 |
|
|
$ |
12,487 |
|
|
$ |
6,593 |
|
|
$ |
3,836 |
|
|
$ |
1,353 |
|
|
$ |
28,031 |
|
|
|
|
2% – 2.99% |
|
|
|
5,385 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,385 |
|
|
|
|
3% – 3.99% |
|
|
|
119,503 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
119,503 |
|
|
|
|
4% – 5.00% |
|
|
|
91,460 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
91,460 |
|
|
|
|
Total |
|
|
$ |
220,110 |
|
|
$ |
12,487 |
|
|
$ |
6,593 |
|
|
$ |
3,836 |
|
|
$ |
1,353 |
|
|
$ |
244,379 |
|
| Fixed annuities |
|
|
1% – 1.99% |
|
|
$ |
6,931 |
|
|
$ |
26,004 |
|
|
$ |
12,838 |
|
|
$ |
8,108 |
|
|
$ |
— |
|
|
$ |
53,881 |
|
|
|
|
2% – 2.99% |
|
|
|
893 |
|
|
|
269 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,162 |
|
|
|
|
3% – 3.99% |
|
|
|
300,328 |
|
|
|
86 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
300,414 |
|
|
|
|
4% – 5.00% |
|
|
|
321,863 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
321,863 |
|
|
|
|
Total |
|
|
$ |
630,015 |
|
|
$ |
26,359 |
|
|
$ |
12,838 |
|
|
$ |
8,108 |
|
|
$ |
— |
|
|
$ |
677,320 |
|
| Universal life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
2% – 2.99% |
|
|
|
3,411 |
|
|
|
117 |
|
|
|
465 |
|
|
|
7 |
|
|
|
25 |
|
|
|
4,025 |
|
|
|
|
3% – 3.99% |
|
|
|
47,337 |
|
|
|
46 |
|
|
|
259 |
|
|
|
420 |
|
|
|
— |
|
|
|
48,062 |
|
|
|
|
4% – 5.00% |
|
|
|
32,800 |
|
|
|
59 |
|
|
|
19 |
|
|
|
— |
|
|
|
— |
|
|
|
32,878 |
|
|
|
|
Total |
|
|
$ |
83,548 |
|
|
$ |
222 |
|
|
$ |
743 |
|
|
$ |
427 |
|
|
$ |
25 |
|
|
$ |
84,965 |
|
| Fixed accounts of variable universal life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
264 |
|
|
$ |
171 |
|
|
$ |
— |
|
|
$ |
1,068 |
|
|
$ |
1,503 |
|
|
|
|
2% – 2.99% |
|
|
|
920 |
|
|
|
640 |
|
|
|
— |
|
|
|
41 |
|
|
|
412 |
|
|
|
2,013 |
|
|
|
|
3% – 3.99% |
|
|
|
6,405 |
|
|
|
38 |
|
|
|
123 |
|
|
|
462 |
|
|
|
— |
|
|
|
7,028 |
|
|
|
|
4% – 5.00% |
|
|
|
45,045 |
|
|
|
144 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
45,189 |
|
|
|
|
Total |
|
|
$ |
52,370 |
|
|
$ |
1,086 |
|
|
$ |
294 |
|
|
$ |
503 |
|
|
$ |
1,480 |
|
|
$ |
55,733 |
|
| Non-indexed accounts of indexed universal life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
184 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
184 |
|
|
|
|
2% – 2.99% |
|
|
|
9,091 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,091 |
|
|
|
|
3% – 3.99% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
4% – 5.00% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
Total |
|
|
$ |
9,091 |
|
|
$ |
— |
|
|
$ |
184 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
9,275 |
|
| Other life insurance |
|
|
1% – 1.99% |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
2% – 2.99% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
3% – 3.99% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
4% – 5.00% |
|
|
|
18,649 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
18,649 |
|
|
|
|
Total |
|
|
$ |
18,649 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
18,649 |
|
| Total |
|
|
1% – 1.99% |
|
|
$ |
10,693 |
|
|
$ |
38,755 |
|
|
$ |
19,786 |
|
|
$ |
11,944 |
|
|
$ |
2,421 |
|
|
$ |
83,599 |
|
|
|
|
2% – 2.99% |
|
|
|
19,700 |
|
|
|
1,026 |
|
|
|
465 |
|
|
|
48 |
|
|
|
437 |
|
|
|
21,676 |
|
|
|
|
3% – 3.99% |
|
|
|
473,573 |
|
|
|
170 |
|
|
|
382 |
|
|
|
882 |
|
|
|
— |
|
|
|
475,007 |
|
|
|
|
4% – 5.00% |
|
|
|
509,817 |
|
|
|
203 |
|
|
|
19 |
|
|
|
— |
|
|
|
— |
|
|
|
510,039 |
|
|
|
|
Total |
|
|
$ |
1,013,783 |
|
|
$ |
40,154 |
|
|
$ |
20,652 |
|
|
$ |
12,874 |
|
|
$ |
2,858 |
|
|
$ |
1,090,321 |
|
| Percentage of total account values that reset in: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Next 12 months |
|
|
|
100.0 |
% |
|
|
99.7 |
% |
|
|
99.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
| >12 months to 24 months |
|
|
|
— |
|
|
|
0.3 |
|
|
|
1.0 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| >24 months |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total |
|
|
|
|
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
F-25
RiverSource Life Insurance Co. of New York
The following tables summarize the balances of and changes in the liability for future policy benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Life Contingent
Payout
Annuities |
|
|
Term and
Whole Life
Insurance |
|
|
Disability
Income
Insurance |
|
|
Long Term
Care
Insurance |
|
|
Total, All
Products |
|
| Present Value of Expected Net Premiums: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at January 1, 2024 |
|
$ |
— |
|
|
$ |
34,522 |
|
|
$ |
7,836 |
|
|
$ |
48,489 |
|
|
$ |
90,847 |
|
| Beginning balance at original discount rate |
|
|
— |
|
|
|
35,649 |
|
|
|
7,720 |
|
|
|
47,397 |
|
|
|
90,766 |
|
| Effect of changes in cash flow assumptions |
|
|
— |
|
|
|
3,237 |
|
|
|
(1,939 |
) |
|
|
4,830 |
|
|
|
6,128 |
|
| Effect of actual variances from expected experience |
|
|
— |
|
|
|
(2,229 |
) |
|
|
(837 |
) |
|
|
(409 |
) |
|
|
(3,475 |
) |
| Adjusted beginning of year balance |
|
$ |
— |
|
|
$ |
36,657 |
|
|
$ |
4,944 |
|
|
$ |
51,818 |
|
|
$ |
93,419 |
|
| Issuances |
|
|
13,729 |
|
|
|
3,071 |
|
|
|
553 |
|
|
|
— |
|
|
|
17,353 |
|
| Interest accrual |
|
|
53 |
|
|
|
1,788 |
|
|
|
309 |
|
|
|
2,512 |
|
|
|
4,662 |
|
| Net premiums collected |
|
|
(13,782 |
) |
|
|
(3,490 |
) |
|
|
(621 |
) |
|
|
(6,107 |
) |
|
|
(24,000 |
) |
| Derecognition (lapses) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Ending balance at original discount rate |
|
$ |
— |
|
|
$ |
38,026 |
|
|
$ |
5,185 |
|
|
$ |
48,223 |
|
|
$ |
91,434 |
|
| Effect of changes in discount rate assumptions |
|
|
— |
|
|
|
(2,680 |
) |
|
|
(244 |
) |
|
|
50 |
|
|
|
(2,874 |
) |
| Balance at December 31, 2024 |
|
$ |
— |
|
|
$ |
35,346 |
|
|
$ |
4,941 |
|
|
$ |
48,273 |
|
|
$ |
88,560 |
|
|
|
|
|
|
|
| Present Value of Future Policy Benefits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at January 1, 2024 |
|
$ |
64,261 |
|
|
$ |
74,238 |
|
|
$ |
37,113 |
|
|
$ |
395,386 |
|
|
$ |
570,998 |
|
| Beginning balance at original discount rate |
|
|
67,270 |
|
|
|
73,159 |
|
|
|
34,643 |
|
|
|
383,284 |
|
|
|
558,356 |
|
| Effect of changes in cash flow assumptions |
|
|
(1,352 |
) |
|
|
3,921 |
|
|
|
(3,096 |
) |
|
|
(1,924 |
) |
|
|
(2,451 |
) |
| Effect of actual variances from expected experience |
|
|
(1,387 |
) |
|
|
(2,563 |
) |
|
|
(1,481 |
) |
|
|
(2,519 |
) |
|
|
(7,950 |
) |
| Adjusted beginning of year balance |
|
$ |
64,531 |
|
|
$ |
74,517 |
|
|
$ |
30,066 |
|
|
$ |
378,841 |
|
|
$ |
547,955 |
|
| Issuances |
|
|
13,729 |
|
|
|
3,061 |
|
|
|
552 |
|
|
|
— |
|
|
|
17,342 |
|
| Interest accrual |
|
|
3,152 |
|
|
|
4,132 |
|
|
|
1,916 |
|
|
|
19,949 |
|
|
|
29,149 |
|
| Benefit payments |
|
|
(9,471 |
) |
|
|
(5,669 |
) |
|
|
(2,709 |
) |
|
|
(24,889 |
) |
|
|
(42,738 |
) |
| Derecognition (lapses) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Ending balance at original discount rate |
|
$ |
71,941 |
|
|
$ |
76,041 |
|
|
$ |
29,825 |
|
|
$ |
373,901 |
|
|
$ |
551,708 |
|
| Effect of changes in discount rate assumptions |
|
|
(4,372 |
) |
|
|
(2,471 |
) |
|
|
787 |
|
|
|
(4,866 |
) |
|
|
(10,922 |
) |
| Balance at December 31, 2024 |
|
$ |
67,569 |
|
|
$ |
73,570 |
|
|
$ |
30,612 |
|
|
$ |
369,035 |
|
|
$ |
540,786 |
|
| Adjustment due to reserve flooring |
|
$ |
— |
|
|
$ |
56 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
56 |
|
|
|
|
|
|
|
| Net liability for future policy benefits |
|
$ |
67,569 |
|
|
$ |
38,280 |
|
|
$ |
25,671 |
|
|
$ |
320,762 |
|
|
$ |
452,282 |
|
| Less: reinsurance recoverable |
|
|
— |
|
|
|
27,679 |
|
|
|
718 |
|
|
|
146,132 |
|
|
|
174,529 |
|
| Net liability for future policy benefits, after reinsurance
recoverable |
|
$ |
67,569 |
|
|
$ |
10,601 |
|
|
$ |
24,953 |
|
|
$ |
174,630 |
|
|
$ |
277,753 |
|
| Discounted expected future gross premiums |
|
$ |
— |
|
|
$ |
82,293 |
|
|
$ |
43,468 |
|
|
$ |
57,490 |
|
|
$ |
183,251 |
|
| Expected future gross premiums |
|
$ |
— |
|
|
$ |
136,563 |
|
|
$ |
62,172 |
|
|
$ |
79,143 |
|
|
$ |
277,878 |
|
| Expected future benefit payments |
|
$ |
101,241 |
|
|
$ |
126,924 |
|
|
$ |
49,284 |
|
|
$ |
626,799 |
|
|
$ |
904,248 |
|
| Weighted average interest accretion rate |
|
|
4.5 |
% |
|
|
6.2 |
% |
|
|
6.5 |
% |
|
|
5.4 |
% |
|
|
|
|
| Weighted average discount rate |
|
|
5.4 |
% |
|
|
5.7 |
% |
|
|
5.6 |
% |
|
|
5.6 |
% |
|
|
|
|
| Weighted average duration of liability (in years) |
|
|
6 |
|
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
|
|
|
|
F-26
RiverSource Life Insurance Co. of New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Life Contingent
Payout
Annuities |
|
|
Term and
Whole Life
Insurance |
|
|
Disability
Income
Insurance |
|
|
Long Term
Care
Insurance |
|
|
Total, All
Products |
|
|
|
|
|
|
|
| Present Value of Expected Net Premiums: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at January 1, 2023 |
|
$ |
— |
|
|
$ |
34,620 |
|
|
$ |
7,326 |
|
|
$ |
46,639 |
|
|
$ |
88,585 |
|
| Beginning balance at original discount rate |
|
|
— |
|
|
|
36,678 |
|
|
|
7,426 |
|
|
|
46,413 |
|
|
|
90,517 |
|
| Effect of changes in cash flow assumptions |
|
|
— |
|
|
|
(1,238 |
) |
|
|
(788 |
) |
|
|
3,562 |
|
|
|
1,536 |
|
| Effect of actual variances from expected experience |
|
|
— |
|
|
|
(754 |
) |
|
|
819 |
|
|
|
1,791 |
|
|
|
1,856 |
|
| Adjusted beginning of year balance |
|
$ |
— |
|
|
$ |
34,686 |
|
|
$ |
7,457 |
|
|
$ |
51,766 |
|
|
$ |
93,909 |
|
| Issuances |
|
|
8,076 |
|
|
|
2,607 |
|
|
|
716 |
|
|
|
— |
|
|
|
11,399 |
|
| Interest accrual |
|
|
39 |
|
|
|
1,747 |
|
|
|
390 |
|
|
|
2,473 |
|
|
|
4,649 |
|
| Net premiums collected |
|
|
(8,115 |
) |
|
|
(3,391 |
) |
|
|
(843 |
) |
|
|
(6,842 |
) |
|
|
(19,191 |
) |
| Derecognition (lapses) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Ending balance at original discount rate |
|
$ |
— |
|
|
$ |
35,649 |
|
|
$ |
7,720 |
|
|
$ |
47,397 |
|
|
$ |
90,766 |
|
| Effect of changes in discount rate assumptions |
|
|
— |
|
|
|
(1,127 |
) |
|
|
116 |
|
|
|
1,092 |
|
|
|
81 |
|
| Balance at December 31, 2023 |
|
$ |
— |
|
|
$ |
34,522 |
|
|
$ |
7,836 |
|
|
$ |
48,489 |
|
|
$ |
90,847 |
|
|
|
|
|
|
|
| Present Value of Future Policy Benefits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at January 1, 2023 |
|
$ |
61,387 |
|
|
$ |
73,706 |
|
|
$ |
36,111 |
|
|
$ |
378,407 |
|
|
$ |
549,611 |
|
| Beginning balance at original discount rate |
|
|
66,201 |
|
|
|
74,238 |
|
|
|
34,489 |
|
|
|
376,914 |
|
|
|
551,842 |
|
| Effect of changes in cash flow assumptions |
|
|
— |
|
|
|
(1,241 |
) |
|
|
(1,091 |
) |
|
|
2,302 |
|
|
|
(30 |
) |
| Effect of actual variances from expected experience |
|
|
(1,074 |
) |
|
|
(1,296 |
) |
|
|
1,000 |
|
|
|
7,258 |
|
|
|
5,888 |
|
| Adjusted beginning of year balance |
|
$ |
65,127 |
|
|
$ |
71,701 |
|
|
$ |
34,398 |
|
|
$ |
386,474 |
|
|
$ |
557,700 |
|
| Issuances |
|
|
8,076 |
|
|
|
2,607 |
|
|
|
714 |
|
|
|
— |
|
|
|
11,397 |
|
| Interest accrual |
|
|
2,810 |
|
|
|
4,066 |
|
|
|
2,031 |
|
|
|
20,274 |
|
|
|
29,181 |
|
| Benefit payments |
|
|
(8,743 |
) |
|
|
(5,215 |
) |
|
|
(2,500 |
) |
|
|
(23,464 |
) |
|
|
(39,922 |
) |
| Derecognition (lapses) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Ending balance at original discount rate |
|
$ |
67,270 |
|
|
$ |
73,159 |
|
|
$ |
34,643 |
|
|
$ |
383,284 |
|
|
$ |
558,356 |
|
| Effect of changes in discount rate assumptions |
|
|
(3,009 |
) |
|
|
1,079 |
|
|
|
2,470 |
|
|
|
12,102 |
|
|
|
12,642 |
|
| Balance at December 31, 2023 |
|
$ |
64,261 |
|
|
$ |
74,238 |
|
|
$ |
37,113 |
|
|
$ |
395,386 |
|
|
$ |
570,998 |
|
|
|
|
|
|
|
| Adjustment due to reserve flooring |
|
$ |
— |
|
|
$ |
86 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
86 |
|
|
|
|
|
|
|
| Net liability for future policy benefits |
|
$ |
64,261 |
|
|
$ |
39,802 |
|
|
$ |
29,277 |
|
|
$ |
346,897 |
|
|
$ |
480,237 |
|
| Less: reinsurance recoverable |
|
|
— |
|
|
|
28,013 |
|
|
|
942 |
|
|
|
156,173 |
|
|
|
185,128 |
|
| Net liability for future policy benefits, after reinsurance
recoverable |
|
$ |
64,261 |
|
|
$ |
11,789 |
|
|
$ |
28,335 |
|
|
$ |
190,724 |
|
|
$ |
295,109 |
|
| Discounted expected future gross premiums |
|
$ |
— |
|
|
$ |
88,128 |
|
|
$ |
47,156 |
|
|
$ |
52,116 |
|
|
$ |
187,400 |
|
| Expected future gross premiums |
|
$ |
— |
|
|
$ |
138,691 |
|
|
$ |
65,922 |
|
|
$ |
69,651 |
|
|
$ |
274,264 |
|
| Expected future benefit payments |
|
$ |
93,290 |
|
|
$ |
120,813 |
|
|
$ |
58,748 |
|
|
$ |
653,735 |
|
|
$ |
926,586 |
|
|
|
|
|
|
|
| Weighted average interest accretion rate |
|
|
4.2 |
% |
|
|
6.2 |
% |
|
|
6.1 |
% |
|
|
5.3 |
% |
|
|
|
|
| Weighted average discount rate |
|
|
4.9 |
% |
|
|
5.1 |
% |
|
|
5.1 |
% |
|
|
5.1 |
% |
|
|
|
|
|
|
|
|
|
|
| Weighted average duration of liability (in years) |
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
|
|
8 |
|
|
|
|
|
Impacts of the annual review of policy benefit reserves assumptions are reflected within the effect of changes in cash flow
assumptions in the disaggregated rollforwards above. The annual review of policy benefit reserves assumptions in the third quarter of 2024 resulted in a net decrease in future policy benefit reserves, primarily due to updates to LTC premium rate
increases and decreased disability income insurance claim incidence rates. The annual review of policy benefit reserves assumptions in the third quarter of 2023 resulted in a net decrease in future policy benefit reserves, primarily due to updates
to LTC premium rate increase and benefit reduction assumptions.
F-27
RiverSource Life Insurance Co. of New York
The balances of and changes in additional liabilities related to insurance guarantees were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Universal Life
Insurance |
|
|
Variable
Universal
Life
Insurance |
|
|
Other Life
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2024 |
|
$ |
80,639 |
|
|
$ |
5,509 |
|
|
$ |
217 |
|
|
$ |
86,365 |
|
| Interest accrual |
|
|
2,550 |
|
|
|
379 |
|
|
|
22 |
|
|
|
2,951 |
|
| Benefit accrual |
|
|
9,648 |
|
|
|
424 |
|
|
|
241 |
|
|
|
10,313 |
|
| Benefit payments |
|
|
(3,541 |
) |
|
|
(352 |
) |
|
|
(231 |
) |
|
|
(4,124 |
) |
| Effect of actual variances from expected experience |
|
|
(91 |
) |
|
|
(352 |
) |
|
|
(65 |
) |
|
|
(508 |
) |
| Impact of change in net unrealized (gains) losses on
securities |
|
|
(1,107 |
) |
|
|
(51 |
) |
|
|
(184 |
) |
|
|
(1,342 |
) |
| Balance at December 31, 2024 |
|
$ |
88,098 |
|
|
$ |
5,557 |
|
|
$ |
— |
|
|
$ |
93,655 |
|
| Weighted average interest accretion rate |
|
|
3.0 |
% |
|
|
6.7 |
% |
|
|
3.9 |
% |
|
|
|
|
| Weighted average discount rate |
|
|
3.2 |
% |
|
|
7.0 |
% |
|
|
4.1 |
% |
|
|
|
|
| Weighted average duration of reserves (in years) |
|
|
9 |
|
|
|
7 |
|
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
|
Universal Life
Insurance |
|
|
Variable
Universal
Life
Insurance |
|
|
Other Life
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2023 |
|
$ |
72,524 |
|
|
$ |
4,620 |
|
|
$ |
(203 |
) |
|
$ |
76,941 |
|
| Interest accrual |
|
|
2,317 |
|
|
|
344 |
|
|
|
28 |
|
|
|
2,689 |
|
| Benefit accrual |
|
|
9,474 |
|
|
|
405 |
|
|
|
218 |
|
|
|
10,097 |
|
| Benefit payments |
|
|
(4,890 |
) |
|
|
(405 |
) |
|
|
(309 |
) |
|
|
(5,604 |
) |
| Effect of actual variances from expected experience |
|
|
(751 |
) |
|
|
462 |
|
|
|
(140 |
) |
|
|
(429 |
) |
| Impact of change in net unrealized (gains) losses on
securities |
|
|
1,965 |
|
|
|
83 |
|
|
|
623 |
|
|
|
2,671 |
|
| Balance at December 31, 2023 |
|
$ |
80,639 |
|
|
$ |
5,509 |
|
|
$ |
217 |
|
|
$ |
86,365 |
|
| Weighted average interest accretion rate |
|
|
2.9 |
% |
|
|
6.7 |
% |
|
|
4.0 |
% |
|
|
|
|
| Weighted average discount rate |
|
|
3.2 |
% |
|
|
7.0 |
% |
|
|
4.1 |
% |
|
|
|
|
| Weighted average duration of reserves (in years) |
|
|
10 |
|
|
|
8 |
|
|
|
7 |
|
|
|
|
|
The amount of revenue and interest recognized in the Statements of Income was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| (in thousands) |
|
Gross
Premiums |
|
|
Interest
Expense |
|
|
Gross
Premiums |
|
|
Interest
Expense |
|
| Life contingent payout annuities |
|
$ |
15,122 |
|
|
$ |
3,099 |
|
|
$ |
8,895 |
|
|
$ |
2,771 |
|
| Term and whole life insurance |
|
|
9,366 |
|
|
|
2,344 |
|
|
|
9,177 |
|
|
|
2,319 |
|
| Disability income insurance |
|
|
6,354 |
|
|
|
1,607 |
|
|
|
6,609 |
|
|
|
1,641 |
|
| Long term care insurance |
|
|
7,042 |
|
|
|
17,437 |
|
|
|
7,573 |
|
|
|
17,801 |
|
| Total |
|
$ |
37,884 |
|
|
$ |
24,487 |
|
|
$ |
32,254 |
|
|
$ |
24,532 |
|
The following tables summarize the balances of and changes in unearned revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Universal Life
Insurance |
|
|
Variable
Universal
Life
Insurance |
|
|
Indexed
Universal
Life
Insurance |
|
|
Total, All
Products |
|
| Balance at January 1, 2024 |
|
$ |
98 |
|
|
$ |
9,038 |
|
|
$ |
20,154 |
|
|
$ |
29,290 |
|
| Deferral of revenue |
|
|
12 |
|
|
|
3,285 |
|
|
|
3,780 |
|
|
|
7,077 |
|
| Amortization |
|
|
(13 |
) |
|
|
(759 |
) |
|
|
(1,655 |
) |
|
|
(2,427 |
) |
| Balance at December 31, 2024 |
|
$ |
97 |
|
|
$ |
11,564 |
|
|
$ |
22,279 |
|
|
$ |
33,940 |
|
| Balance at January 1, 2023 |
|
$ |
98 |
|
|
$ |
6,912 |
|
|
$ |
17,734 |
|
|
$ |
24,744 |
|
| Deferral of revenue |
|
|
14 |
|
|
|
2,714 |
|
|
|
3,877 |
|
|
|
6,605 |
|
| Amortization |
|
|
(14 |
) |
|
|
(588 |
) |
|
|
(1,457 |
) |
|
|
(2,059 |
) |
| Balance at December 31, 2023 |
|
$ |
98 |
|
|
$ |
9,038 |
|
|
$ |
20,154 |
|
|
$ |
29,290 |
|
F-28
RiverSource Life Insurance Co. of New York
10. SEPARATE ACCOUNT ASSETS AND LIABILITIES
The fair value of
separate account assets is invested exclusively in mutual funds.
The balances of and changes in separate account liabilities were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Variable
Annuities |
|
|
Variable
Universal
Life |
|
|
Total |
|
| Balance at January 1, 2024 |
|
$ |
4,018,325 |
|
|
$ |
496,999 |
|
|
$ |
4,515,324 |
|
| Premiums and deposits |
|
|
112,608 |
|
|
|
28,088 |
|
|
|
140,696 |
|
| Policy charges |
|
|
(80,105 |
) |
|
|
(19,541 |
) |
|
|
(99,646 |
) |
| Surrenders and other benefits |
|
|
(424,604 |
) |
|
|
(24,446 |
) |
|
|
(449,050 |
) |
| Investment return |
|
|
454,577 |
|
|
|
68,658 |
|
|
|
523,235 |
|
| Net transfer from (to) general account |
|
|
2,982 |
|
|
|
1,377 |
|
|
|
4,359 |
|
| Other charges |
|
|
(60 |
) |
|
|
(2 |
) |
|
|
(62 |
) |
| Balance at December 31, 2024 |
|
$ |
4,083,723 |
|
|
$ |
551,133 |
|
|
$ |
4,634,856 |
|
| Cash surrender value |
|
$ |
3,989,419 |
|
|
$ |
521,592 |
|
|
$ |
4,511,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Variable
Annuities |
|
|
Variable
Universal
Life |
|
|
Total |
|
| Balance at January 1, 2023 |
|
$ |
3,793,152 |
|
|
$ |
437,738 |
|
|
$ |
4,230,890 |
|
| Premiums and deposits |
|
|
83,153 |
|
|
|
25,482 |
|
|
|
108,635 |
|
| Policy charges |
|
|
(77,945 |
) |
|
|
(18,750 |
) |
|
|
(96,695 |
) |
| Surrenders and other benefits |
|
|
(298,531 |
) |
|
|
(20,075 |
) |
|
|
(318,606 |
) |
| Investment return |
|
|
516,055 |
|
|
|
71,946 |
|
|
|
588,001 |
|
| Net transfer from (to) general account |
|
|
2,510 |
|
|
|
661 |
|
|
|
3,171 |
|
| Other charges |
|
|
(69 |
) |
|
|
(3 |
) |
|
|
(72 |
) |
| Balance at December 31, 2023 |
|
$ |
4,018,325 |
|
|
$ |
496,999 |
|
|
$ |
4,515,324 |
|
| Cash surrender value |
|
$ |
3,912,313 |
|
|
$ |
472,542 |
|
|
$ |
4,384,855 |
|
11. MARKET RISK BENEFITS
Market risk benefits are contracts or contract features that both provide protection to the contractholder from other-than-nominal capital market risk and
expose the Company to other-than-nominal capital market risk. Most of the variable annuity contracts issued by the Company contain a GMDB provision. The Company previously offered contracts containing GMWB, GMAB, or GMIB provisions.
The GMDB provisions provide a specified minimum return upon death of the contractholder. The death benefit payable is the greater of (i) the contract
value less any purchase payment credits subject to recapture less a pro-rata portion of any rider fees, or (ii) the GMDB provisions specified in the contract.
The Company has the following primary GMDB provisions:
| • |
|
Return of premium — provides purchase payments minus adjusted partial surrenders. |
| • |
|
Reset — provides that the value resets to the account value at specified contract anniversary intervals
minus adjusted partial surrenders. This provision was often provided in combination with the return of premium provision and is no longer offered. |
| • |
|
Ratchet — provides that the value ratchets up to the maximum account value at specified anniversary
intervals, plus subsequent purchase payments less adjusted partial surrenders. |
The variable annuity contracts with GMWB riders typically
have account values that are based on an underlying portfolio of mutual funds, the values of which fluctuate based on fund performance. At contract issue, the guaranteed amount is equal to the amount deposited but the guarantee may be increased
annually to the account value (a “step-up”) in the case of favorable market performance or by a benefit credit if the contract includes this provision.
The Company has GMWB riders in force, which contain one or more of the following provisions:
| • |
|
Withdrawals at a specified rate per year until the amount withdrawn is equal to the guaranteed amount.
|
| • |
|
Withdrawals at a specified rate per year for the life of the contractholder (“GMWB for life”).
|
| • |
|
Withdrawals at a specified rate per year for joint contractholders while either is alive. |
| • |
|
Withdrawals based on performance of the contract. |
| • |
|
Withdrawals based on the age withdrawals begin. |
| • |
|
Credits are applied annually for a specified number of years to increase the guaranteed amount as long as
withdrawals have not been taken. |
F-29
RiverSource Life Insurance Co. of New York
Variable annuity contractholders age 79 or younger at contract issue could obtain a principal-back guarantee by purchasing the optional GMAB rider for an
additional charge. The GMAB rider guarantees that, regardless of market performance at the end of the 10-year waiting period, the contract value will be no less than the original investment or a specified
percentage of the highest anniversary value, adjusted for withdrawals. If the contract value is less than the guarantee at the end of the 10-year period, a lump sum will be added to the contract value to make
the contract value equal to the guarantee value.
Individual variable annuity contracts may have both a death benefit and a living benefit. Net amount at
risk is quantified for each benefit and a composite net amount at risk is calculated using the greater of the death benefit or living benefit for each individual contract. The net amount at risk for GMDB and GMAB is defined as the current guaranteed
benefit amount in excess of the current contract value. The net amount at risk for GMIB is defined as the greater of the present value of the minimum guaranteed annuity payments less the current contract value or zero. The net amount at risk for
GMWB is defined as the greater of the present value of the minimum guaranteed withdrawal payments less the current contract value or zero.
The following
tables summarize the balances of and changes in market risk benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands, except age) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Balance at beginning of period |
|
$ |
(47,475 |
) |
|
$ |
4,137 |
|
|
$ |
92,975 |
|
| Issuances |
|
|
— |
|
|
|
3 |
|
|
|
42 |
|
| Interest accrual and time decay |
|
|
(9,164 |
) |
|
|
(8,114 |
) |
|
|
(16,308 |
) |
| Reserve increase from attributed fees collected |
|
|
43,501 |
|
|
|
43,343 |
|
|
|
44,350 |
|
| Reserve release for benefit payments and derecognition |
|
|
(297 |
) |
|
|
(1,878 |
) |
|
|
(1,391 |
) |
| Effect of changes in interest rates and bond markets |
|
|
(53,866 |
) |
|
|
(19,266 |
) |
|
|
(216,461 |
) |
| Effect of changes in equity markets and subaccount performance |
|
|
(64,842 |
) |
|
|
(69,222 |
) |
|
|
120,007 |
|
| Effect of changes in equity index volatility |
|
|
3,339 |
|
|
|
(4,254 |
) |
|
|
11,723 |
|
| Actual policyholder behavior different from expected behavior |
|
|
1,653 |
|
|
|
(2,579 |
) |
|
|
(1,594 |
) |
| Effect of changes in other future expected assumptions |
|
|
3,793 |
|
|
|
6,621 |
|
|
|
(5,362 |
) |
| Effect of changes in the instrument-specific credit risk on market
risk benefits |
|
|
2,753 |
|
|
|
3,734 |
|
|
|
(23,844 |
) |
| Balance at end of period |
|
$ |
(120,605 |
) |
|
$ |
(47,475 |
) |
|
$ |
4,137 |
|
| Reconciliation of the gross balances in an asset or liability position: |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset position |
|
$ |
147,075 |
|
|
$ |
94,641 |
|
|
$ |
64,498 |
|
| Liability position |
|
|
(26,470 |
) |
|
|
(47,166 |
) |
|
|
(68,635 |
) |
| Net asset (liability) position |
|
$ |
120,605 |
|
|
$ |
47,475 |
|
|
$ |
(4,137 |
) |
| Guaranteed benefit amount in excess of current account balances (net amount at risk): |
|
|
|
|
|
|
|
|
|
|
|
|
| Death benefits |
|
$ |
19,210 |
|
|
$ |
58,245 |
|
|
$ |
180,279 |
|
| Living benefits |
|
$ |
38,955 |
|
|
$ |
54,321 |
|
|
$ |
185,651 |
|
| Composite (greater of) |
|
$ |
55,956 |
|
|
$ |
107,200 |
|
|
$ |
339,888 |
|
|
|
|
|
| Weighted average attained age of contractholders |
|
|
68 |
|
|
|
67 |
|
|
|
67 |
|
|
|
|
|
| Changes in unrealized (gains) losses in net income relating to liabilities held at end of period |
|
$ |
(118,760 |
) |
|
$ |
(96,583 |
) |
|
$ |
(106,928 |
) |
| Changes in unrealized (gains) losses in other comprehensive income (loss) relating to liabilities held at end
of period |
|
$ |
2,866 |
|
|
$ |
3,742 |
|
|
$ |
(23,420 |
) |
The following tables provide a summary of the significant inputs and assumptions used in the fair value measurements developed
by the Company or reasonably available to the Company of market risk benefits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
Fair Value |
|
|
Valuation Technique |
|
Significant Inputs and
Assumptions |
|
Range |
|
|
Weighted
Average |
|
| |
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Market risk benefits |
|
$ |
(120,605 |
) |
|
Discounted cash flow |
|
Utilization of guaranteed withdrawals(1) |
|
|
0.0 |
% |
|
– |
|
|
52.8 |
% |
|
|
12.6 |
% |
|
|
|
|
|
|
|
|
Surrender rate(2) |
|
|
0.4 |
% |
|
– |
|
|
39.4 |
% |
|
|
3.9 |
% |
|
|
|
|
|
|
|
|
Market volatility(3) |
|
|
0.0 |
% |
|
– |
|
|
24.6 |
% |
|
|
10.3 |
% |
|
|
|
|
|
|
|
|
Nonperformance risk(4) |
|
|
65 bps |
|
|
|
65 |
bps |
|
|
|
|
|
|
|
|
Mortality rate(5) |
|
|
0.0% |
|
|
– |
|
|
37.4 |
% |
|
|
1.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| |
|
Fair Value |
|
|
Valuation Technique |
|
Significant Inputs and
Assumptions |
|
Range |
|
|
Weighted
Average |
|
| |
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Market risk benefits |
|
$ |
(47,475 |
) |
|
Discounted cash flow |
|
Utilization of guaranteed withdrawals(1) |
|
|
0.0 |
% |
|
– |
|
|
48.0 |
% |
|
|
12.1 |
% |
|
|
|
|
|
|
|
|
Surrender rate(2) |
|
|
0.3 |
% |
|
– |
|
|
55.7 |
% |
|
|
3.9 |
% |
|
|
|
|
|
|
|
|
Market volatility(3) |
|
|
0.0 |
% |
|
– |
|
|
25.2 |
% |
|
|
10.6 |
% |
|
|
|
|
|
|
|
|
Nonperformance risk(4) |
|
|
85 bps |
|
|
|
85 |
bps |
|
|
|
|
|
|
|
|
Mortality rate(5) |
|
|
0.0% |
|
|
– |
|
|
35.4 |
% |
|
|
1.7 |
% |
F-30
RiverSource Life Insurance Co. of New York
| (1) |
The utilization of guaranteed withdrawals represents the percentage of contractholders that will begin withdrawing in any
given year. The weighted average utilization rate represents the average assumption, weighted based on the benefit base. The calculation excludes policies that have already started taking withdrawals. |
| (2) |
The weighted average surrender rate represents the average assumption weighted based on the account value of each
contract. |
| (3) |
Market volatility represents the implied volatility of each contractholder’s mix of funds. The weighted average
market volatility represents the average volatility across all contracts, weighted by the size of the guaranteed benefit. |
| (4) |
The nonperformance risk is the spread added to the U.S. Treasury curve. |
| (5) |
The weighted average mortality rate represents the average assumption weighted based on the account value of each
contract. |
Changes to Significant Inputs and Assumptions:
During the years ended December 31, 2024 and 2023, the Company updated inputs and assumptions based on management’s review of experience studies.
These updates resulted in the following notable changes in the fair value estimates of market risk benefits calculations:
Year ended December 31,
2024
| • |
|
Updates to utilization of guaranteed withdrawal assumptions resulted in a decrease to pretax income of
$994 thousand. |
| • |
|
Updates to surrender assumptions resulted in a decrease to pretax income of $2.3 million.
|
Year ended December 31, 2023
| • |
|
Updates to utilization of guaranteed withdrawal assumptions resulted in a decrease to pretax income of
$1.5 million. |
| • |
|
Updates to surrender assumptions resulted in a decrease to pretax income of $5.0 million.
|
Refer to the rollforward of market risk benefits for the impacts of changes to interest rate, equity market, volatility and
nonperformance risk assumptions.
Uncertainty of Fair Value Measurements
Significant increases (decreases) in utilization and volatility used in the fair value measurement of market risk benefits in isolation would have resulted in
a significantly higher (lower) liability value.
Significant increases (decreases) in nonperformance risk and surrender assumptions used in the fair value
measurement of market risk benefits in isolation would have resulted in a significantly lower (higher) liability value.
Significant increases (decreases)
in mortality assumptions used in the fair value measurement of the death benefit portion of market risk benefits in isolation would have resulted in a significantly higher (lower) liability value whereas significant increases (decreases) in
mortality rates used in the fair value measurement of the life contingent portion of market risk benefits in isolation would have resulted in a significantly lower (higher) liability value.
Surrender assumptions, utilization assumptions and mortality assumptions vary with the type of base product, type of rider, duration of the policy, age of the
contractholder, calendar year of the projection, previous withdrawal history, and the relationship between the value of the guaranteed benefit and the contract accumulation value.
Determination of Fair Value
The Company values market
risk benefits using internal valuation models. These models include observable capital market assumptions and significant unobservable inputs related to implied volatility, contractholder behavior assumptions that include margins for risk, and the
Company’s nonperformance risk. These measurements are classified as Level 3.
12. FAIR VALUES OF ASSETS AND LIABILITIES
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date; that is, an exit price. The exit price assumes the asset or liability is not exchanged subject to a forced liquidation or distressed sale.
Valuation Hierarchy
The Company categorizes its fair
value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Company’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input that is significant to
the fair value measurement in its entirety.
The three levels of the fair value hierarchy are defined as follows:
| Level 1 |
Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the
measurement date. |
| Level 2 |
Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets
and liabilities. |
| Level 3 |
Prices or valuations that require inputs that are both significant to the fair value measurement and
unobservable. |
F-31
RiverSource Life Insurance Co. of New York
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| (in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available-for-Sale
securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate debt securities |
|
$ |
— |
|
|
$ |
826,806 |
|
|
$ |
14,589 |
|
|
$ |
841,395 |
|
| Residential mortgage backed securities |
|
|
— |
|
|
|
224,106 |
|
|
|
— |
|
|
|
224,106 |
|
| Commercial mortgage backed securities |
|
|
— |
|
|
|
257,829 |
|
|
|
— |
|
|
|
257,829 |
|
| State and municipal obligations |
|
|
— |
|
|
|
73,007 |
|
|
|
— |
|
|
|
73,007 |
|
| Asset backed securities |
|
|
— |
|
|
|
23,490 |
|
|
|
— |
|
|
|
23,490 |
|
| Foreign government bonds and obligations |
|
|
— |
|
|
|
585 |
|
|
|
— |
|
|
|
585 |
|
| U.S. government and agency obligations |
|
|
218 |
|
|
|
— |
|
|
|
— |
|
|
|
218 |
|
| Total
Available-for-Sale securities |
|
|
218 |
|
|
|
1,405,823 |
|
|
|
14,589 |
|
|
|
1,420,630 |
|
| Cash equivalents |
|
|
— |
|
|
|
145,762 |
|
|
|
— |
|
|
|
145,762 |
|
| Market risk benefits |
|
|
— |
|
|
|
— |
|
|
|
147,075 |
|
|
|
147,075 |
(1) |
| Other assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate derivative contracts |
|
|
79 |
|
|
|
1,712 |
|
|
|
— |
|
|
|
1,791 |
|
| Equity derivative contracts |
|
|
2,011 |
|
|
|
115,824 |
|
|
|
— |
|
|
|
117,835 |
|
| Foreign exchange derivative contracts |
|
|
189 |
|
|
|
426 |
|
|
|
— |
|
|
|
615 |
|
| Total other assets |
|
|
2,279 |
|
|
|
117,962 |
|
|
|
— |
|
|
|
120,241 |
|
| Separate account assets at net asset value (“NAV”) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,634,856 |
(2) |
| Total assets at fair value |
|
$ |
2,497 |
|
|
$ |
1,669,547 |
|
|
$ |
161,664 |
|
|
$ |
6,468,564 |
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Policyholder account balances, future policy benefits and claims: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| IUL embedded derivatives |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
59,724 |
|
|
$ |
59,724 |
|
| Total policyholder account balances, future policy benefits and
claims |
|
|
— |
|
|
|
— |
|
|
|
59,724 |
|
|
|
59,724 |
(3) |
| Market risk benefits |
|
|
— |
|
|
|
— |
|
|
|
26,470 |
|
|
|
26,470 |
(1) |
| Other liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate derivative contracts |
|
|
— |
|
|
|
2,229 |
|
|
|
— |
|
|
|
2,229 |
|
| Equity derivative contracts |
|
|
202 |
|
|
|
45,911 |
|
|
|
— |
|
|
|
46,113 |
|
| Total other liabilities |
|
|
202 |
|
|
|
48,140 |
|
|
|
— |
|
|
|
48,342 |
|
| Total liabilities at fair value |
|
$ |
202 |
|
|
$ |
48,140 |
|
|
$ |
86,194 |
|
|
$ |
134,536 |
|
F-32
RiverSource Life Insurance Co. of New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| (in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available-for-Sale
securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate debt securities |
|
$ |
— |
|
|
$ |
897,905 |
|
|
$ |
23,276 |
|
|
$ |
921,181 |
|
| Residential mortgage backed securities |
|
|
— |
|
|
|
252,823 |
|
|
|
— |
|
|
|
252,823 |
|
| Commercial mortgage backed securities |
|
|
— |
|
|
|
289,746 |
|
|
|
— |
|
|
|
289,746 |
|
| State and municipal obligations |
|
|
— |
|
|
|
90,111 |
|
|
|
— |
|
|
|
90,111 |
|
| Asset backed securities |
|
|
— |
|
|
|
30,738 |
|
|
|
— |
|
|
|
30,738 |
|
| Foreign government bonds and obligations |
|
|
— |
|
|
|
722 |
|
|
|
— |
|
|
|
722 |
|
| U.S. government and agency obligations |
|
|
220 |
|
|
|
— |
|
|
|
— |
|
|
|
220 |
|
| Total
Available-for-Sale securities |
|
|
220 |
|
|
|
1,562,045 |
|
|
|
23,276 |
|
|
|
1,585,541 |
|
| Cash equivalents |
|
|
— |
|
|
|
79,967 |
|
|
|
— |
|
|
|
79,967 |
|
| Market risk benefits |
|
|
— |
|
|
|
— |
|
|
|
94,641 |
|
|
|
94,641 |
(1) |
| Other assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate derivative contracts |
|
|
141 |
|
|
|
3,039 |
|
|
|
— |
|
|
|
3,180 |
|
| Equity derivative contracts |
|
|
1,540 |
|
|
|
69,821 |
|
|
|
— |
|
|
|
71,361 |
|
| Foreign exchange derivative contracts |
|
|
74 |
|
|
|
232 |
|
|
|
— |
|
|
|
306 |
|
| Total other assets |
|
|
1,755 |
|
|
|
73,092 |
|
|
|
— |
|
|
|
74,847 |
|
| Separate account assets at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,515,324 |
(2) |
| Total assets at fair value |
|
$ |
1,975 |
|
|
$ |
1,715,104 |
|
|
$ |
117,917 |
|
|
$ |
6,350,320 |
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Policyholder account balances, future policy benefits and claims: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| IUL embedded derivatives |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
50,529 |
|
|
$ |
50,529 |
|
| Total policyholder account balances, future policy benefits and
claims |
|
|
— |
|
|
|
— |
|
|
|
50,529 |
|
|
|
50,529 |
(3) |
| Market risk benefits |
|
|
— |
|
|
|
— |
|
|
|
47,166 |
|
|
|
47,166 |
(1) |
| Other liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate derivative contracts |
|
|
2 |
|
|
|
2,806 |
|
|
|
— |
|
|
|
2,808 |
|
| Equity derivative contracts |
|
|
165 |
|
|
|
35,344 |
|
|
|
— |
|
|
|
35,509 |
|
| Foreign exchange derivative contracts |
|
|
104 |
|
|
|
— |
|
|
|
— |
|
|
|
104 |
|
| Credit derivative contracts |
|
|
— |
|
|
|
3,508 |
|
|
|
— |
|
|
|
3,508 |
|
| Total other liabilities |
|
|
271 |
|
|
|
41,658 |
|
|
|
— |
|
|
|
41,929 |
|
| Total liabilities at fair value |
|
$ |
271 |
|
|
$ |
41,658 |
|
|
$ |
97,695 |
|
|
$ |
139,624 |
|
| (1) |
See Note 11 for additional information related to market risk benefits, including the balances of and changes in market
risk benefits as well as the significant inputs and assumptions used in the fair value measurements of market risk benefits. |
| (2) |
Amounts are comprised of financial instruments that are measured at fair value using the NAV per share (or its equivalent)
as a practical expedient and have not been classified in the fair value hierarchy. |
| (3) |
The Company’s adjustment for nonperformance risk resulted in a $6.5 million and $7.5 million cumulative
decrease to the embedded derivatives as of December 31, 2024 and 2023, respectively. |
The following tables provide a summary of
changes in Level 3 assets and liabilities measured at fair value on a recurring basis:
|
|
|
|
|
|
|
|
|
| |
|
Available-for-Sale
Securities |
|
|
Policyholder Account
Balances, Future Policy
Benefits and Claims |
|
| (in thousands) |
|
Corporate Debt
Securities |
|
|
IUL Embedded
Derivatives |
|
| Balance at January 1, 2024 |
|
$ |
23,276 |
|
|
$ |
(50,529 |
) |
| Total gains (losses) included in: |
|
|
|
|
|
|
|
|
| Net income |
|
|
(58 |
)(1) |
|
|
(17,910 |
)(2) |
| Other comprehensive income (loss) |
|
|
410 |
|
|
|
— |
|
| Issues |
|
|
— |
|
|
|
(257 |
) |
| Settlements |
|
|
(9,039 |
) |
|
|
8,972 |
|
| Balance at December 31, 2024 |
|
$ |
14,589 |
|
|
$ |
(59,724 |
) |
| Changes in unrealized gains (losses) in net income relating to assets and liabilities held at
December 31, 2024 |
|
$ |
(58 |
)(1) |
|
$ |
(17,910 |
)(2) |
| Changes in unrealized gains (losses) in other comprehensive income (loss) relating to assets and liabilities
held at December 31, 2024 |
|
$ |
249 |
|
|
$ |
— |
|
F-33
RiverSource Life Insurance Co. of New York
|
|
|
|
|
|
|
|
|
| |
|
Available-for-Sale
Securities |
|
|
Policyholder Account
Balances, Future Policy
Benefits and Claims |
|
| (in thousands) |
|
Corporate Debt
Securities |
|
|
IUL Embedded
Derivatives |
|
| Balance at January 1, 2023 |
|
$ |
29,372 |
|
|
$ |
(42,382 |
) |
| Total gains (losses) included in: |
|
|
|
|
|
|
|
|
| Net income |
|
|
(68 |
)(1) |
|
|
(13,670 |
)(2) |
| Other comprehensive income (loss) |
|
|
585 |
|
|
|
— |
|
| Purchases |
|
|
419 |
|
|
|
— |
|
| Issues |
|
|
— |
|
|
|
(2,453 |
) |
| Settlements |
|
|
(7,032 |
) |
|
|
7,976 |
|
| Balance at December 31, 2023 |
|
$ |
23,276 |
|
|
$ |
(50,529 |
) |
| Changes in unrealized gains (losses) in net income relating to assets and liabilities held at
December 31, 2023 |
|
$ |
(68 |
)(1) |
|
$ |
(13,670 |
)(2) |
| Changes in unrealized gains (losses) in other comprehensive income (loss) relating to assets and liabilities
held at December 31, 2023 |
|
$ |
511 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
| |
|
Available-for-Sale
Securities |
|
|
Policyholder Account
Balances, Future Policy
Benefits and Claims |
|
| (in thousands) |
|
Corporate Debt
Securities |
|
|
IUL Embedded
Derivatives |
|
| Balance at January 1, 2022 |
|
$ |
45,834 |
|
|
$ |
(51,617 |
) |
| Total gains (losses) included in: |
|
|
|
|
|
|
|
|
| Net income |
|
|
(69 |
)(1) |
|
|
5,029 |
(2) |
| Other comprehensive income (loss) |
|
|
(3,002 |
) |
|
|
— |
|
| Issues |
|
|
— |
|
|
|
(2,483 |
) |
| Settlements |
|
|
(13,391 |
) |
|
|
6,689 |
|
| Balance at December 31, 2022 |
|
$ |
29,372 |
|
|
$ |
(42,382 |
) |
| Changes in unrealized gains (losses) in net income relating to assets and liabilities held at
December 31, 2022 |
|
$ |
(66 |
)(1) |
|
$ |
5,029 |
(2) |
| Changes in unrealized gains (losses) in other comprehensive income (loss) relating to assets and liabilities
held at December 31, 2022 |
|
$ |
(2,829 |
) |
|
$ |
— |
|
| (1) |
Included in Net investment income. |
| (2) |
Included in Interest credited to fixed accounts. |
The increase (decrease) to pretax income of the Company’s adjustment for nonperformance risk on the fair value of its embedded derivatives was $(454)
thousand, $20 thousand and $1.7 million, net of the reinsurance accrual, for the years ended December 31, 2024, 2023 and 2022, respectively.
Securities transferred from Level 3 primarily represent securities with fair values that are now obtained from a third-party pricing service with
observable inputs or fair values that were included in an observable transaction with a market participant. Securities transferred to Level 3 represent securities with fair values that are now based on a single
non-binding broker quote.
The following tables provide a summary of the significant unobservable inputs used in
the fair value measurements developed by the Company or reasonably available to the Company of Level 3 assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
Fair Value |
|
|
Valuation Technique |
|
Unobservable Input |
|
Range |
|
|
Weighted
Average |
|
| |
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate debt securities (private placements) |
|
$ |
14,560 |
|
|
Discounted cash flow |
|
Yield/spread to U.S. Treasuries(1) |
|
|
0.8 |
% |
|
– |
|
|
1.6 |
% |
|
|
1.3 |
% |
| IUL embedded derivatives |
|
$ |
59,724 |
|
|
Discounted cash flow |
|
Nonperformance risk(2) |
|
|
65 bps |
|
|
|
65 |
bps |
|
|
| |
|
December 31, 2023 |
|
| |
|
Fair Value |
|
|
Valuation Technique |
|
Unobservable Input |
|
Range |
|
|
Weighted
Average |
|
| |
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate debt securities (private placements) |
|
$ |
23,253 |
|
|
Discounted cash flow |
|
Yield/spread to U.S. Treasuries(1) |
|
|
1.0 |
% |
|
– |
|
|
2.4 |
% |
|
|
1.6 |
% |
| IUL embedded derivatives |
|
$ |
50,529 |
|
|
Discounted cash flow |
|
Nonperformance risk(2) |
|
|
85 bps |
|
|
|
85 |
bps |
| (1) |
The weighted average for the yield/spread to U.S. Treasuries for corporate debt securities (private placements) is
weighted based on the security’s market value as a percentage of the aggregate market value of the securities. |
| (2) |
The nonperformance risk is the spread added to the U.S. Treasury curve. |
F-34
RiverSource Life Insurance Co. of New York
Level 3 measurements not included in the tables above are obtained from non-binding broker quotes where
unobservable inputs utilized in the fair value calculation are not reasonably available to the Company or fair values estimated based on a transaction near the balance sheet date.
Uncertainty of Fair Value Measurements
Significant
increases (decreases) in the yield/spread to U.S. Treasuries used in the fair value measurement of Level 3 corporate debt securities in isolation would have resulted in a significantly lower (higher) fair value measurement.
Significant increases (decreases) in nonperformance risk used in the fair value measurement of the IUL embedded derivatives in isolation would have resulted in
a significantly lower (higher) fair value measurement.
Determination of Fair Value
The Company uses valuation techniques consistent with the market and income approaches to measure the fair value of its assets and liabilities. The
Company’s market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The Company’s income approach uses valuation techniques to convert future
projected cash flows to a single discounted present value amount. When applying either approach, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs.
The following is a description of the valuation techniques used to measure fair value and the general classification of these instruments pursuant to the fair
value hierarchy.
Assets
Available-for-Sale Securities
When available, the fair value of securities
is based on quoted prices in active markets. If quoted prices are not available, fair values are obtained from third-party pricing services, non-binding broker quotes, or other model-based valuation
techniques.
Level 1 securities primarily include U.S. Treasuries.
Level 2 securities primarily include corporate bonds, residential mortgage backed securities, commercial mortgage backed securities, state and municipal
obligations, asset backed securities and foreign government securities. The fair value of these Level 2 securities is based on a market approach with prices obtained from third-party pricing services. Observable inputs used to value these
securities can include, but are not limited to, reported trades, benchmark yields, issuer spreads and non-binding broker quotes. The fair value of securities included in an observable transaction with a market
participant are also considered Level 2 when the market is not active.
Level 3 securities primarily include certain corporate bonds. The fair
value of corporate bonds classified as Level 3 is typically based on a single non-binding broker quote. The underlying inputs used for some of the non-binding
broker quotes are not readily available to the Company. The Company’s privately placed corporate bonds are typically based on a single non-binding broker quote.
Management is responsible for the fair values recorded on the financial statements. Prices received from third-party pricing services are subjected to
exception reporting that identifies investments with significant daily price movements as well as no movements. The Company reviews the exception reporting and resolves the exceptions through reaffirmation of the price or recording an appropriate
fair value estimate. The Company also performs subsequent transaction testing. The Company performs annual due diligence of third-party pricing services. The Company’s due diligence procedures include assessing the vendor’s valuation
qualifications, control environment, analysis of asset-class specific valuation methodologies, and understanding of sources of market observable assumptions and unobservable assumptions, if any, employed in the valuation methodology. The Company
also considers the results of its exception reporting controls and any resulting price challenges that arise.
Cash Equivalents
Cash equivalents include time deposits and other highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less.
The Company’s cash equivalents are classified as Level 2 and measured at amortized cost, which is a reasonable estimate of fair value because of the short time between the purchase of the instrument and its expected realization.
Other Assets
Derivatives that are measured using quoted
prices in active markets, such as derivatives that are exchange-traded, are classified as Level 1 measurements. The variation margin on futures contracts is also classified as Level 1. The fair value of derivatives that are traded in less
active over-the-counter (“OTC”) markets is generally measured using pricing models with market observable inputs such as interest rates and equity index
levels. These measurements are classified as Level 2 within the fair value hierarchy and include swaps and the majority of options. The counterparties’ nonperformance risk associated with uncollateralized derivative assets was immaterial
as of both December 31, 2024 and 2023. See Note 15 and Note 16 for further information on the credit risk of derivative instruments and related collateral.
F-35
RiverSource Life Insurance Co. of New York
Separate Account Assets
The fair value of assets held by
separate accounts is determined by the NAV of the funds in which those separate accounts are invested. The NAV is used as a practical expedient for fair value and represents the exit price for the separate account. Separate account assets are
excluded from classification in the fair value hierarchy.
Liabilities
Policyholder Account Balances, Future Policy Benefits and Claims
There is no active market for the transfer of the Company’s embedded derivatives attributable to the provisions of IUL products.
The Company uses discounted cash flow models to determine the fair value of the embedded derivatives associated with the provisions of its IUL products. The
fair value of IUL embedded derivatives includes significant observable interest rates, volatilities and equity index levels and the significant unobservable estimate of the Company’s nonperformance risk. Given the significance of the
nonperformance risk assumption, the IUL embedded derivatives are classified as Level 3.
The embedded derivatives attributable to these provisions are
recorded in Policyholder account balances, future policy benefits and claims.
Other Liabilities
Derivatives that are measured using quoted prices in active markets, such as derivatives that are exchange-traded, are classified as Level 1 measurements.
The variation margin on futures contracts is also classified as Level 1. The fair value of derivatives that are traded in less active OTC markets is generally measured using pricing models with market observable inputs such as interest rates
and equity index levels. These measurements are classified as Level 2 within the fair value hierarchy and include swaps and the majority of options. The Company’s nonperformance risk associated with uncollateralized derivative liabilities
was immaterial as of both December 31, 2024 and 2023. See Note 15 and Note 16 for further information on the credit risk of derivative instruments and related collateral.
Fair Value on a Nonrecurring Basis
During the years ended
December 31, 2024 and 2023, there were no material assets or liabilities measured at fair value on a nonrecurring basis.
Assets and Liabilities
Not Reported at Fair Value
The following tables provide the carrying value and the estimated fair value of financial instruments that are not reported
at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
Carrying
Value |
|
|
Fair Value |
|
| (in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage loans, net |
|
$ |
130,826 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
120,595 |
|
|
$ |
120,595 |
|
| Policy loans |
|
|
60,538 |
|
|
|
— |
|
|
|
60,538 |
|
|
|
— |
|
|
|
60,538 |
|
|
|
|
|
|
|
| Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Policyholder account balances, future policy benefits and claims |
|
$ |
665,141 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
636,395 |
|
|
$ |
636,395 |
|
| Separate account liabilities – investment contracts |
|
|
3,358 |
|
|
|
— |
|
|
|
3,358 |
|
|
|
— |
|
|
|
3,358 |
|
|
|
| |
|
December 31, 2023 |
|
| |
|
Carrying
Value |
|
|
Fair Value |
|
| (in thousands) |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage loans, net |
|
$ |
144,910 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
134,224 |
|
|
$ |
134,224 |
|
| Policy loans |
|
|
53,615 |
|
|
|
— |
|
|
|
53,615 |
|
|
|
— |
|
|
|
53,615 |
|
|
|
|
|
|
|
| Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Policyholder account balances, future policy benefits and claims |
|
$ |
705,348 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
684,945 |
|
|
$ |
684,945 |
|
| Separate account liabilities – investment contracts |
|
|
3,412 |
|
|
|
— |
|
|
|
3,412 |
|
|
|
— |
|
|
|
3,412 |
|
See Note 6 for additional information on mortgage loans and policy loans.
Policyholder account balances, future policy benefits and claims include fixed annuities in deferral status, non-life
contingent fixed annuities in payout status and the fixed portion of a small number of variable annuity contracts classified as investment contracts. See Note 9 for additional information on these liabilities. Separate account liabilities are
related to certain annuity products that are classified as investment contracts.
F-36
RiverSource Life Insurance Co. of New York
13. RELATED PARTY TRANSACTIONS
Revenues
See Note 4 for information about revenues from contracts with customers earned by the Company from related party transactions with affiliates.
Expenses
Charges by Ameriprise Financial and
affiliated companies to the Company for use of joint facilities, technology support, marketing services and other services aggregated $22.6 million, $23.0 million and $22.9 million for the years ended December 31, 2024, 2023 and
2022, respectively. Certain of these costs are included in DAC. Expenses allocated to the Company may not be reflective of expenses that would have been incurred by the Company on a stand-alone basis.
Income Taxes
The Company’s taxable income is
included in the consolidated federal and various state income tax returns of Ameriprise Financial. The net amount due from (to) Ameriprise Financial for income taxes was $1.3 million and $(428) thousand as of December 31, 2024 and 2023,
respectively, which is reflected in Other assets and Other liabilities.
Lines of Credit
The Company, as the borrower, has a revolving credit agreement with Ameriprise Financial as the lender. The aggregate amount outstanding under this line of
credit may not exceed the lesser of $25 million or 3% of the Company’s statutory admitted assets (excluding separate accounts) as of the prior year end. The interest rate under the agreement is a Daily Simple Secured Overnight Financing
Rate plus 0.1% and an applicable margin subject to adjustment based on debt ratings of the senior unsecured debt of Ameriprise Financial. Amounts borrowed may be repaid at any time with no prepayment penalty. The credit agreement is amended to
extend the maturity on an annual basis with Ameriprise Financial, subject to the New York Department’s non-disapproval. There were no amounts outstanding on this line of credit as of both
December 31, 2024 and 2023.
Dividends or Distributions
During the years ended December 31, 2024, 2023 and 2022, the Company paid cash dividends or distributions of $50 million, $50 million and
$63 million, respectively, to RiverSource Life. For dividend or other distributions from the Company, advance notification was provided to the New York Department prior to payments. See Note 14 for additional information.
14. STATUTORY ACCOUNTING PRINCIPLES AND REQUIREMENTS
The
National Association of Insurance Commissioners (“NAIC”) defines Risk-Based Capital (“RBC”) requirements for insurance companies. The RBC requirements are used by the NAIC and state insurance regulators to identify companies that
merit regulatory actions designed to protect policyholders. These requirements apply to the Company. The Company has met its minimum RBC requirements.
Insurance companies are required to prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the insurance
departments of their respective states of domicile, which vary materially from GAAP. Prescribed statutory accounting practices include publications of the NAIC, as well as state laws, regulations and general administrative rules. The State of New
York has adopted the NAIC Accounting Practices and Procedures Manual as its prescribed basis of statutory accounting principles. In addition, New York has prescribed certain reserve requirements that differ from those required under NAIC statutory
accounting principles. As of December 31, 2024 and 2023, application of these New York prescribed practices which deviate from the NAIC requirements resulted in a decrease of $469 thousand and an increase of $7.1 million to the
Company’s net income, respectively, and a decrease to the Company’s statutory surplus of $76.5 million and $76.1 million, respectively. The Company’s RBC would not have triggered a regulatory event without the application of
these prescribed practices.
The more significant differences between NAIC statutory accounting principles and GAAP include charging policy acquisition
costs to expense as incurred, establishing annuity and insurance reserves using different actuarial methods and assumptions, valuing investments on a different basis and excluding certain assets from the balance sheet by charging them directly to
surplus, such as a portion of the net deferred income tax assets.
State insurance statutes generally require insurance companies to provide notice to
state regulators prior to payment of dividends or distributions and those dividends or distributions exceeding prescribed limitations are subject to potential disapproval. For the Company, dividends or distributions in a calendar year which exceed
the greater of: (i) 10% of statutory surplus as of the immediately preceding year end, or (ii) statutory net gain from operations for the immediately preceding calendar year, not to exceed 30% of statutory surplus as of the immediately
preceding year end would require pre-notification to the New York Department and are subject to potential disapproval. Statutory net gain from operations was $83.8 million, $66.6 million and
$212.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.
F-37
RiverSource Life Insurance Co. of New York
Comparisons of net income and shareholder’s equity, as shown in the accompanying GAAP financial statements, to that determined using statutory accounting
principles prescribed by the State of New York (“SAP”) were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income, per accompanying GAAP financial statements |
|
$ |
73,394 |
|
|
$ |
46,567 |
|
|
$ |
44,419 |
|
| Net income (loss), SAP basis(1) |
|
|
(17,477 |
) |
|
|
60,310 |
|
|
|
317,442 |
|
| Difference |
|
$ |
90,871 |
|
|
$ |
(13,743 |
) |
|
$ |
(273,023 |
) |
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
| Shareholder’s Equity |
|
|
|
|
|
|
|
|
| Shareholder’s equity, per accompanying GAAP financial statements |
|
$ |
430,881 |
|
|
$ |
424,097 |
|
| Capital and surplus, SAP basis(2) |
|
|
218,309 |
|
|
|
244,121 |
|
| Difference |
|
$ |
212,572 |
|
|
$ |
179,976 |
|
| (1) |
Results may be significantly impacted by changes in reserves for variable annuity guaranteed benefits, however, these
impacts may be substantially offset by unrealized gains (losses) on derivatives which are not included in statutory income but are recorded directly to surplus. |
| (2) |
Includes unassigned surplus of $109.4 million and $135.2 million as of December 31, 2024 and 2023,
respectively. |
As of December 31, 2024 and 2023, bonds carried at $217 thousand and $220 thousand, respectively, were on
deposit with the State of New York as required by law.
15. OFFSETTING ASSETS AND LIABILITIES
Certain financial instruments and derivative instruments are eligible for offset in the Balance Sheets. The Company’s derivative instruments are subject
to master netting and collateral arrangements and qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or
bankruptcy. The Company’s policy is to recognize amounts subject to master netting arrangements on a gross basis in the Balance Sheets.
The following
tables present the gross and net information about the Company’s assets subject to master netting arrangements:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
Gross
Amounts of
Recognized
Assets |
|
|
Gross Amounts
Offset in the
Balance Sheets |
|
|
Amounts of Assets
Presented in the
Balance Sheets |
|
|
Gross Amounts Not Offset
in the Balance Sheets |
|
|
Net
Amount |
|
| (in thousands) |
|
Financial
Instruments(1) |
|
|
Cash
Collateral |
|
|
Securities
Collateral |
|
| |
|
|
|
|
|
|
|
| Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OTC |
|
$ |
117,297 |
|
|
$ |
— |
|
|
$ |
117,297 |
|
|
$ |
(37,596 |
) |
|
$ |
(73,188 |
) |
|
$ |
(6,475 |
) |
|
$ |
38 |
|
| OTC cleared |
|
|
665 |
|
|
|
— |
|
|
|
665 |
|
|
|
(665 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Exchange-traded |
|
|
2,279 |
|
|
|
— |
|
|
|
2,279 |
|
|
|
(202 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,077 |
|
| Total |
|
$ |
120,241 |
|
|
$ |
— |
|
|
$ |
120,241 |
|
|
$ |
(38,463 |
) |
|
$ |
(73,188 |
) |
|
$ |
(6,475 |
) |
|
$ |
2,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| |
|
Gross
Amounts of
Recognized
Assets |
|
|
Gross Amounts
Offset in the
Balance Sheets |
|
|
Amounts of Assets
Presented in the
Balance Sheets |
|
|
Gross Amounts Not Offset
in the Balance Sheets |
|
|
Net
Amount |
|
| (in thousands) |
|
Financial
Instruments(1) |
|
|
Cash
Collateral |
|
|
Securities
Collateral |
|
| |
|
|
|
|
|
|
|
| Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OTC |
|
$ |
72,768 |
|
|
$ |
— |
|
|
$ |
72,768 |
|
|
$ |
(29,626 |
) |
|
$ |
(40,364 |
) |
|
$ |
(2,249 |
) |
|
$ |
529 |
|
| OTC cleared |
|
|
323 |
|
|
|
— |
|
|
|
323 |
|
|
|
(323 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Exchange-traded |
|
|
1,756 |
|
|
|
— |
|
|
|
1,756 |
|
|
|
(271 |
) |
|
|
— |
|
|
|
— |
|
|
|
1,485 |
|
| Total |
|
$ |
74,847 |
|
|
$ |
— |
|
|
$ |
74,847 |
|
|
$ |
(30,220 |
) |
|
$ |
(40,364 |
) |
|
$ |
(2,249 |
) |
|
$ |
2,014 |
|
| (1) |
Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or
similar arrangements that management elects not to offset on the Balance Sheets. |
F-38
RiverSource Life Insurance Co. of New York
The following tables present the gross and net information about the Company’s liabilities subject to master netting arrangements:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
| |
|
Gross
Amounts of
Recognized
Liabilities |
|
|
Gross Amounts
Offset in the
Balance Sheets |
|
|
Amounts of Liabilities
Presented in the
Balance Sheets |
|
|
Gross Amounts Not Offset
in the Balance Sheets |
|
|
Net
Amount |
|
| (in thousands) |
|
Financial
Instruments(1) |
|
|
Cash
Collateral |
|
|
Securities
Collateral |
|
| |
|
|
|
|
|
|
|
| Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OTC |
|
$ |
46,836 |
|
|
$ |
— |
|
|
$ |
46,836 |
|
|
$ |
(37,596 |
) |
|
$ |
— |
|
|
$ |
(9,240 |
) |
|
$ |
— |
|
| OTC cleared |
|
|
1,304 |
|
|
|
— |
|
|
|
1,304 |
|
|
|
(665 |
) |
|
|
— |
|
|
|
— |
|
|
|
639 |
|
| Exchange-traded |
|
|
202 |
|
|
|
— |
|
|
|
202 |
|
|
|
(202 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total |
|
$ |
48,342 |
|
|
$ |
— |
|
|
$ |
48,342 |
|
|
$ |
(38,463 |
) |
|
$ |
— |
|
|
$ |
(9,240 |
) |
|
$ |
639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2023 |
|
| |
|
Gross
Amounts of
Recognized
Liabilities |
|
|
Gross Amounts
Offset in the
Balance Sheets |
|
|
Amounts of Liabilities
Presented in the
Balance Sheets |
|
|
Gross Amounts Not Offset
in the Balance Sheets |
|
|
Net
Amount |
|
| (in thousands) |
|
Financial
Instruments(1) |
|
|
Cash
Collateral |
|
|
Securities
Collateral |
|
| |
|
|
|
|
|
|
|
| Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OTC |
|
$ |
39,853 |
|
|
$ |
— |
|
|
$ |
39,853 |
|
|
$ |
(29,626 |
) |
|
$ |
(7,007 |
) |
|
$ |
(3,063 |
) |
|
$ |
157 |
|
| OTC cleared |
|
|
1,805 |
|
|
|
— |
|
|
|
1,805 |
|
|
|
(323 |
) |
|
|
— |
|
|
|
— |
|
|
|
1,482 |
|
| Exchange-traded |
|
|
271 |
|
|
|
— |
|
|
|
271 |
|
|
|
(271 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total |
|
$ |
41,929 |
|
|
$ |
— |
|
|
$ |
41,929 |
|
|
$ |
(30,220 |
) |
|
$ |
(7,007 |
) |
|
$ |
(3,063 |
) |
|
$ |
1,639 |
|
| (1) |
Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or
similar arrangements that management elects not to offset on the Balance Sheets. |
In the tables above, the amount of assets or
liabilities presented are offset first by financial instruments that have the right of offset under master netting or similar arrangements, then any remaining amount is reduced by the amount of cash and securities collateral. The actual collateral
may be greater than amounts presented in the tables.
When the fair value of collateral accepted by the Company is less than the amount due to the Company,
there is a risk of loss if the counterparty fails to perform or provide additional collateral. To mitigate this risk, the Company monitors collateral values regularly and requires additional collateral when necessary. When the value of collateral
pledged by the Company declines, it may be required to post additional collateral.
Freestanding derivative instruments are reflected in Other assets and
Other liabilities. Cash collateral pledged by the Company is reflected in Other assets and cash collateral accepted by the Company is reflected in Other liabilities. See Note 16 for additional disclosures related to the Company’s derivative
instruments.
16. DERIVATIVES AND HEDGING ACTIVITIES
Derivative instruments enable the Company to manage its exposure to various market risks. The value of such instruments is derived from an underlying
variable or multiple variables, including equity and interest rate indices or prices. The Company primarily enters into derivative agreements for risk management purposes related to the Company’s products and operations.
Certain of the Company’s freestanding derivative instruments are subject to master netting arrangements. The Company’s policy on the recognition of
derivatives on the Balance Sheets is to not offset fair value amounts recognized for derivatives and collateral arrangements executed with the same counterparty under the same master netting arrangement. See Note 15 for additional information
regarding the estimated fair value of the Company’s freestanding derivatives after considering the effect of master netting arrangements and collateral.
F-39
RiverSource Life Insurance Co. of New York
Generally, the Company uses derivatives as economic hedges and accounting hedges. The following table presents the notional value and gross fair value of
derivative instruments, including embedded derivatives:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2024 |
|
|
December 31, 2023 |
|
| |
|
Notional |
|
|
Gross Fair Value |
|
|
Notional |
|
|
Gross Fair Value |
|
| (in thousands) |
|
Assets(1) |
|
|
Liabilities(2) |
|
|
Assets(1) |
|
|
Liabilities(2) |
|
| Derivatives not designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
$ |
1,822,300 |
|
|
$ |
1,791 |
|
|
$ |
2,229 |
|
|
$ |
1,883,300 |
|
|
$ |
3,180 |
|
|
$ |
2,808 |
|
| Equity contracts |
|
|
1,551,292 |
|
|
|
117,835 |
|
|
|
46,113 |
|
|
|
1,401,329 |
|
|
|
71,361 |
|
|
|
35,509 |
|
| Foreign exchange contracts |
|
|
88,905 |
|
|
|
615 |
|
|
|
— |
|
|
|
114,951 |
|
|
|
306 |
|
|
|
104 |
|
| Credit contracts |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
104,115 |
|
|
|
— |
|
|
|
3,508 |
|
| Total non-designated
hedges |
|
|
3,462,497 |
|
|
|
120,241 |
|
|
|
48,342 |
|
|
|
3,503,695 |
|
|
|
74,847 |
|
|
|
41,929 |
|
| Embedded derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| IUL |
|
|
N/A |
|
|
|
— |
|
|
|
59,724 |
|
|
|
N/A |
|
|
|
— |
|
|
|
50,529 |
|
| Total embedded derivatives |
|
|
N/A |
|
|
|
— |
|
|
|
59,724 |
|
|
|
N/A |
|
|
|
— |
|
|
|
50,529 |
|
| Total derivatives |
|
$ |
3,462,497 |
|
|
$ |
120,241 |
|
|
$ |
108,066 |
|
|
$ |
3,503,695 |
|
|
$ |
74,847 |
|
|
$ |
92,458 |
|
N/A Not applicable
| (1) |
The fair value of freestanding derivative assets is included in Other assets. |
| (2) |
The fair value of freestanding derivative liabilities is included in Other liabilities. The fair value of IUL embedded
derivatives is included in Policyholder account balances, future policy benefits and claims. |
See Note 12 for additional information
regarding the Company’s fair value measurement of derivative instruments.
As of December 31, 2024 and 2023, investment securities with a fair
value of $88.8 million and $93.9 million, respectively, were pledged to meet contractual obligations under derivative contracts, of which $10.6 million and $3.6 million, respectively, may be sold, pledged or rehypothecated by the
counterparty. As of December 31, 2024 and 2023, investment securities with a fair value of $7.0 million and $2.6 million, respectively, were received as collateral to meet contractual obligations under derivative contracts, of which
$7.0 million and nil, respectively, may be sold, pledged or rehypothecated by the Company. As of both December 31, 2024 and 2023, the Company had sold, pledged or rehypothecated none of these securities. In addition, as of both
December 31, 2024 and 2023, non-cash collateral accepted was held in separate custodial accounts and was not included in the Company’s Balance Sheets.
The following table presents a summary of the impact of derivatives not designated as hedging instruments, including embedded derivatives, on the Statements of
Income:
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Interest
Credited to
Fixed Accounts |
|
|
Change in Fair
Value of
Market Risk
Benefits |
|
| Year Ended December 31, 2024 |
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
$ |
— |
|
|
$ |
(56,025 |
) |
| Equity contracts |
|
|
3,916 |
|
|
|
(56,970 |
) |
| Foreign exchange contracts |
|
|
— |
|
|
|
6,163 |
|
| Credit contracts |
|
|
— |
|
|
|
4,105 |
|
| IUL embedded derivatives |
|
|
(8,938 |
) |
|
|
— |
|
| Total gain (loss) |
|
$ |
(5,022 |
) |
|
$ |
(102,727 |
) |
| Year Ended December 31, 2023 |
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
$ |
— |
|
|
$ |
(23,725 |
) |
| Equity contracts |
|
|
4,569 |
|
|
|
(77,123 |
) |
| Foreign exchange contracts |
|
|
— |
|
|
|
402 |
|
| Credit contracts |
|
|
— |
|
|
|
(19 |
) |
| IUL embedded derivatives |
|
|
(5,694 |
) |
|
|
— |
|
| Total gain (loss) |
|
$ |
(1,125 |
) |
|
$ |
(100,465 |
) |
| Year Ended December 31, 2022 |
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
$ |
— |
|
|
$ |
(145,925 |
) |
| Equity contracts |
|
|
(6,797 |
) |
|
|
35,340 |
|
| Foreign exchange contracts |
|
|
— |
|
|
|
5,198 |
|
| IUL embedded derivatives |
|
|
11,718 |
|
|
|
— |
|
| Total gain (loss) |
|
$ |
4,921 |
|
|
$ |
(105,387 |
) |
F-40
RiverSource Life Insurance Co. of New York
The Company holds derivative instruments that either do not qualify or are not designated for hedge accounting treatment. These derivative instruments are used
as economic hedges of equity, interest rate, credit and foreign currency exchange rate risk related to various products and transactions of the Company.
The deferred premium associated with certain of the above options is paid or received semi-annually over the life of the contract or at maturity. The following
is a summary of the payments the Company is scheduled to make and receive for these options as of December 31, 2024:
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Premiums
Payable |
|
|
Premiums
Receivable |
|
| 2025 |
|
$ |
117 |
|
|
$ |
— |
|
| 2026 |
|
|
23,700 |
|
|
|
— |
|
| 2027 |
|
|
— |
|
|
|
— |
|
| 2028 |
|
|
— |
|
|
|
— |
|
| 2029 |
|
|
13,830 |
|
|
|
— |
|
| 2030 |
|
|
21,870 |
|
|
|
— |
|
| Total |
|
$ |
59,517 |
|
|
$ |
— |
|
Actual timing and payment amounts may differ due to future settlements, modifications or exercises of the contracts prior to
the full premium being paid or received.
IUL products have returns tied to the performance of equity markets. As a result of fluctuations in equity
markets, the obligation incurred by the Company related to IUL products will positively or negatively impact earnings over the life of these products. The equity component of IUL product obligations is considered an embedded derivative, which is
bifurcated from the host contract for valuation purposes and reported on the Balance Sheets at fair value with changes in fair value reported in earnings. As a means of economically hedging its obligations under the provisions of this product, the
Company enters into interest rate swaps, index options and futures contracts.
As discussed in Note 11, the Company issues variable annuity contracts that
provide protection to contractholders from other-than-nominal capital market risk and expose the Company to other-than-nominal capital market risk. The Company economically hedges its obligations under these market risk benefits using options,
swaptions, swaps and futures.
Credit Risk
Credit
risk associated with the Company’s derivatives is the risk that a derivative counterparty will not perform in accordance with the terms of the applicable derivative contract. To mitigate such risk, the Company has established guidelines and
oversight of credit risk through a comprehensive enterprise risk management program that includes members of senior management. Key components of this program are to require preapproval of counterparties and the use of master netting and collateral
arrangements whenever practical. See Note 15 for additional information on the Company’s credit exposure related to derivative assets.
Certain of the
Company’s derivative contracts contain provisions that adjust the level of collateral the Company is required to post based on the Company’s financial strength rating (or based on the debt rating of RiverSource Life’s parent,
Ameriprise Financial). Additionally, certain of the Company’s derivative contracts contain provisions that allow the counterparty to terminate the contract if the Company does not maintain a specific financial strength rating or Ameriprise
Financial’s debt does not maintain a specific credit rating (generally an investment grade rating). If these termination provisions were to be triggered, the Company’s counterparty could require immediate settlement of any net liability
position. As of December 31, 2024 and 2023, the aggregate fair value of derivative contracts in a net liability position containing such credit contingent provisions was $9.1 million and $9.9 million, respectively. The aggregate fair
value of assets posted as collateral for such instruments as of December 31, 2024 and 2023 was $9.1 million and $9.7 million, respectively. If the credit contingent provisions of derivative contracts in a net liability position as of
both December 31, 2024 and 2023 were triggered, the aggregate fair value of additional assets that would be required to be posted as collateral or needed to settle the instruments immediately would have been nil and $157 thousand as of
December 31, 2024 and 2023, respectively.
F-41
RiverSource Life Insurance Co. of New York
17. SHAREHOLDER’S EQUITY
The following tables present
the amounts related to each component of OCI:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year Ended December 31, 2024 |
|
| (in thousands) |
|
Pretax |
|
|
Income Tax
Benefit
(Expense) |
|
|
Net of Tax |
|
| Net unrealized gains (losses) on securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net unrealized gains (losses) on securities arising during the period(1) |
|
$ |
(31,130 |
) |
|
$ |
6,537 |
|
|
$ |
(24,593 |
) |
| Reclassification of net (gains) losses on securities included in net income(2) |
|
|
549 |
|
|
|
(115 |
) |
|
|
434 |
|
| Impact of benefit reserves and reinsurance recoverables |
|
|
612 |
|
|
|
(129 |
) |
|
|
483 |
|
| Net unrealized gains (losses) on securities |
|
|
(29,969 |
) |
|
|
6,293 |
|
|
|
(23,676 |
) |
| Effect of changes in discount rate assumptions on certain long-duration contracts |
|
|
11,697 |
|
|
|
(2,456 |
) |
|
|
9,241 |
|
| Effect of changes in instrument-specific credit risk on market risk
benefits (“MRBs”). |
|
|
(2,753 |
) |
|
|
578 |
|
|
|
(2,175 |
) |
| Total other comprehensive income (loss) |
|
$ |
(21,025 |
) |
|
$ |
4,415 |
|
|
$ |
(16,610 |
) |
|
|
| |
|
Year Ended December 31, 2023 |
|
| (in thousands) |
|
Pretax |
|
|
Income Tax
Benefit
(Expense) |
|
|
Net of Tax |
|
| Net unrealized gains (losses) on securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net unrealized gains (losses) on securities arising during the period(1) |
|
$ |
54,710 |
|
|
$ |
(11,489 |
) |
|
$ |
43,221 |
|
| Reclassification of net (gains) losses on securities included in net income(2) |
|
|
224 |
|
|
|
(47 |
) |
|
|
177 |
|
| Impact of benefit reserves and reinsurance recoverables |
|
|
(2,181 |
) |
|
|
458 |
|
|
|
(1,723 |
) |
| Net unrealized gains (losses) on securities |
|
|
52,753 |
|
|
|
(11,078 |
) |
|
|
41,675 |
|
| Effect of changes in discount rate assumptions on certain long-duration contracts |
|
|
(7,753 |
) |
|
|
1,628 |
|
|
|
(6,125 |
) |
| Effect of changes in instrument-specific credit risk on MRBs |
|
|
(3,734 |
) |
|
|
784 |
|
|
|
(2,950 |
) |
| Total other comprehensive income (loss) |
|
$ |
41,266 |
|
|
$ |
(8,666 |
) |
|
$ |
32,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year Ended December 31, 2022 |
|
| (in thousands) |
|
Pretax |
|
|
Income Tax
Benefit
(Expense) |
|
|
Net of Tax |
|
| Net unrealized gains (losses) on securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net unrealized gains (losses) on securities arising during the period(1) |
|
$ |
(282,360 |
) |
|
$ |
59,296 |
|
|
$ |
(223,064 |
) |
| Reclassification of net (gains) losses on securities included in net income(2) |
|
|
3,346 |
|
|
|
(703 |
) |
|
|
2,643 |
|
| Impact of benefit reserves and reinsurance recoverables |
|
|
8,809 |
|
|
|
(1,849 |
) |
|
|
6,960 |
|
| Net unrealized gains (losses) on securities |
|
|
(270,205 |
) |
|
|
56,744 |
|
|
|
(213,461 |
) |
| Effect of changes in discount rate assumptions on certain long-duration contracts |
|
|
78,368 |
|
|
|
(16,457 |
) |
|
|
61,911 |
|
| Effect of changes in instrument-specific credit risk on MRBs |
|
|
23,844 |
|
|
|
(5,007 |
) |
|
|
18,837 |
|
| Total other comprehensive income (loss) |
|
$ |
(167,993 |
) |
|
$ |
35,280 |
|
|
$ |
(132,713 |
) |
| (1) |
Includes impairments on Available-for-Sale
securities related to factors other than credit that were recognized in OCI during the period. |
| (2) |
Reclassification amounts are recorded in Net realized investment gains (losses). |
Other comprehensive income (loss) related to net unrealized gains (losses) on securities includes three components: (i) unrealized gains (losses) that
arose from changes in the market value of securities that were held during the period; (ii) (gains) losses that were previously unrealized, but have been recognized in current period net income due to sales of Available-for-Sale securities and due to the reclassification of noncredit losses to credit losses; and (iii) other adjustments primarily consisting of changes in insurance and annuity asset and
liability balances, such as benefit reserves and reinsurance recoverables, to reflect the expected impact on their carrying values had the unrealized gains (losses) been realized as of the respective balance sheet dates.
F-42
RiverSource Life Insurance Co. of New York
The following table presents the changes in the balances of each component of AOCI, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Net Unrealized
Gains (Losses)
on Securities |
|
|
Effect of
Changes in
Discount
Rate
Assumptions |
|
|
Effect of
Changes in
Instrument-
Specific
Credit Risk
on MRBs |
|
|
Total |
|
| Balance at January 1, 2022 |
|
$ |
90,032 |
|
|
$ |
(61,767 |
) |
|
$ |
(18,112 |
) |
|
$ |
10,153 |
|
| OCI before reclassifications |
|
|
(216,104 |
) |
|
|
61,911 |
|
|
|
18,837 |
|
|
|
(135,356 |
) |
| Amounts reclassified from AOCI |
|
|
2,643 |
|
|
|
— |
|
|
|
— |
|
|
|
2,643 |
|
| Total OCI |
|
|
(213,461 |
) |
|
|
61,911 |
|
|
|
18,837 |
|
|
|
(132,713 |
) |
| Balance at December 31, 2022 |
|
|
(123,429 |
) |
|
|
144 |
|
|
|
725 |
|
|
|
(122,560 |
) |
| OCI before reclassifications |
|
|
41,498 |
|
|
|
(6,125 |
) |
|
|
(2,950 |
) |
|
|
32,423 |
|
| Amounts reclassified from AOCI |
|
|
177 |
|
|
|
— |
|
|
|
— |
|
|
|
177 |
|
| Total OCI |
|
|
41,675 |
|
|
|
(6,125 |
) |
|
|
(2,950 |
) |
|
|
32,600 |
|
| Balance at December 31, 2023 |
|
|
(81,754 |
) |
|
|
(5,981 |
) |
|
|
(2,225 |
) |
|
|
(89,960 |
) |
| OCI before reclassifications |
|
|
(24,110 |
) |
|
|
9,241 |
|
|
|
(2,175 |
) |
|
|
(17,044 |
) |
| Amounts reclassified from AOCI |
|
|
434 |
|
|
|
— |
|
|
|
— |
|
|
|
434 |
|
| Total OCI |
|
|
(23,676 |
) |
|
|
9,241 |
|
|
|
(2,175 |
) |
|
|
(16,610 |
) |
| Balance at December 31, 2024 |
|
$ |
(105,430 |
) |
|
$ |
3,260 |
|
|
$ |
(4,400 |
) |
|
$ |
(106,570 |
) |
18. INCOME TAXES
The
components of income tax provision were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Current income tax |
|
|
|
|
|
|
|
|
|
|
|
|
| Federal |
|
$ |
566 |
|
|
$ |
9,247 |
|
|
$ |
11,869 |
|
| State and local |
|
|
117 |
|
|
|
(173 |
) |
|
|
185 |
|
| Total current income tax |
|
|
683 |
|
|
|
9,074 |
|
|
|
12,054 |
|
| Deferred federal income tax |
|
|
14,880 |
|
|
|
(1,519 |
) |
|
|
(4,674 |
) |
| Total income tax provision |
|
$ |
15,563 |
|
|
$ |
7,555 |
|
|
$ |
7,380 |
|
The principal reasons that the aggregate income tax provision is different from that computed by using the U.S. statutory rate
of 21% were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Tax at U.S. statutory rate |
|
|
21.0 |
% |
|
|
21.0 |
% |
|
|
21.0 |
% |
| Changes in taxes resulting from: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends received deduction |
|
|
(2.1 |
) |
|
|
(3.4 |
) |
|
|
(3.9 |
) |
| Foreign tax credit, net of addback |
|
|
(1.4 |
) |
|
|
(2.9 |
) |
|
|
(2.9 |
) |
| Other |
|
|
— |
|
|
|
(0.7 |
) |
|
|
— |
|
| Income tax provision |
|
|
17.5 |
% |
|
|
14.0 |
% |
|
|
14.2 |
% |
The increase in the Company’s effective tax rate for the year ended December 31, 2024 compared to 2023 is primarily
due to higher pretax income relative to tax preferred items.
F-43
RiverSource Life Insurance Co. of New York
Deferred income tax assets and liabilities result from temporary differences between the assets and liabilities measured for GAAP reporting versus income tax
return purposes. Deferred income tax assets and liabilities are measured at the statutory rate of 21% as of both December 31, 2024 and 2023. The significant components of the Company’s deferred income tax assets and liabilities, which are
included net within Other assets or Other liabilities, were as follows:
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
| Deferred income tax assets |
|
|
|
|
|
|
|
|
| Insurance and annuity benefits including corresponding hedges |
|
$ |
50,126 |
|
|
$ |
66,330 |
|
| Investments including net unrealized on
Available-for-Sale securities |
|
|
25,863 |
|
|
|
22,092 |
|
| Other |
|
|
262 |
|
|
|
72 |
|
| Gross deferred income tax assets |
|
|
76,251 |
|
|
|
88,494 |
|
| Deferred income tax liabilities |
|
|
|
|
|
|
|
|
| Deferred acquisition costs |
|
|
21,873 |
|
|
|
23,492 |
|
| Other |
|
|
1,272 |
|
|
|
1,431 |
|
| Gross deferred income tax liabilities |
|
|
23,145 |
|
|
|
24,923 |
|
| Net deferred income tax assets |
|
$ |
53,106 |
|
|
$ |
63,571 |
|
Based on analysis of the Company’s tax position, management believes it is more likely than not that the Company’s
results of future operations and implementation of tax planning strategies will generate sufficient taxable income to enable the Company to utilize all of the deferred tax assets. Accordingly, no valuation allowance for deferred tax assets has been
established as of both December 31, 2024 and 2023.
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Balance at January 1 |
|
$ |
— |
|
|
$ |
320 |
|
|
$ |
346 |
|
| Additions for tax positions related to the current year |
|
|
— |
|
|
|
6 |
|
|
|
— |
|
| Reductions for tax positions related to the current year |
|
|
— |
|
|
|
(6 |
) |
|
|
(26 |
) |
| Additions for tax positions of prior years |
|
|
— |
|
|
|
324 |
|
|
|
— |
|
| Reductions for tax positions of prior years |
|
|
— |
|
|
|
(644 |
) |
|
|
— |
|
| Balance at December 31 |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
320 |
|
If recognized, approximately nil, nil and $218 thousand, net of federal tax benefits, of unrecognized tax benefits as of
December 31, 2024, 2023 and 2022, respectively, would affect the effective tax rate.
The Company is not aware of any tax positions for which it is
reasonably possible that the total amount of unrecognized tax benefits will significantly change in the next 12 months.
The Company recognizes interest
and penalties related to unrecognized tax benefits as a component of the income tax provision. The Company recognized nil, a net decrease of $90 thousand and a net increase of $16 thousand in interest and penalties for the years ended
December 31, 2024, 2023 and 2022, respectively. As of both December 31, 2024 and 2023, the Company did not have a payable related to accrued interest and penalties.
The Company files income tax returns as part of its inclusion in the consolidated federal income tax return of Ameriprise Financial in the U.S. federal
jurisdiction and various state jurisdictions. The Internal Revenue Service is currently auditing Ameriprise Financial’s U.S. income tax returns for 2019 and 2020. The state income tax returns of Ameriprise Financial or its subsidiaries,
including the Company, are currently under examination by various jurisdictions for years ranging from 2017 through 2023.
19. COMMITMENTS AND CONTINGENCIES
Commitments
As of both December 31,
2024 and 2023, the Company had no funding commitments related to mortgage loans.
Contingencies
The Company and its affiliates are involved in the normal course of business in legal proceedings which include regulatory inquiries, arbitration and
litigation, including class actions, concerning matters arising in connection with the conduct of its activities. These include proceedings specific to the Company as well as proceedings generally applicable to business practices in the industries
in which it operates. The Company can also be subject to legal proceedings arising out of its general business activities, such as its investments, contracts and employment relationships. Uncertain economic conditions, heightened and sustained
volatility in the financial markets and significant financial reform legislation may increase the likelihood that clients and other persons or regulators may present or threaten legal claims or that regulators increase the scope or frequency of
examinations of the Company or the insurance industry generally.
F-44
RiverSource Life Insurance Co. of New York
As with other insurance companies, the level of regulatory activity concerning the Company’s businesses remains elevated. From time to time, the Company
and its affiliates, including AFS and RiverSource Distributors, Inc. receive requests for information from, and/or are subject to examination or claims by various state, federal and other domestic authorities. The Company and its affiliates
typically have numerous pending matters, that include information requests, exams, inquiries or disputes regarding their business activities and practices and other subjects, including from time to time: sales and distribution of, and disclosure
practices related to, various products, including the Company’s insurance and annuity products; supervision of associated persons, including AFS financial advisors and RiverSource Distributors, Inc.’s wholesalers; administration of
insurance and annuity claims; security of client information; and transaction monitoring systems and controls. The Company and its affiliates are cooperating with the applicable regulators.
These pending matters are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably
possible, or to reasonably estimate the amount of any loss that may result from such matters. The Company cannot predict with certainty if, how, or when any such proceedings will be initiated or resolved. Matters frequently need to be more developed
before a potential loss or range of loss can be reasonably estimated for any matter. An adverse outcome in any matter could result in an adverse judgment, a settlement, fine, penalty, or other sanction, and may lead to further claims, examinations,
adverse publicity or reputational damage, each of which could have a material adverse effect on the Company’s financial condition, results of operations, or liquidity.
In accordance with applicable accounting standards, the Company establishes an accrued liability for contingent litigation and regulatory matters when those
matters present loss contingencies that are both probable and can be reasonably estimated. The Company discloses the nature of the contingency when management believes there is at least a reasonable possibility that the outcome may be material to
the Company’s financial statements and, where feasible, an estimate of the possible loss. In such cases, there still may be an exposure to loss in excess of any amounts reasonably estimated and accrued. When a loss contingency is not both
probable and reasonably estimable, the Company does not establish an accrued liability, but continues to monitor, in conjunction with any outside counsel handling a matter, further developments that would make such loss contingency both probable and
reasonably estimable. Once the Company establishes an accrued liability with respect to a loss contingency, the Company continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been
previously established, and any appropriate adjustments are made each quarter.
Guaranty Fund Assessments
The Company is required by law to be a member of the guaranty fund association in the State of New York. In the event of insolvency of one or more unaffiliated
insurance companies, the Company could be adversely affected by the requirement to pay assessments to the guaranty fund association. The Company projects its cost of future guaranty fund assessments based on estimates of insurance company
insolvencies provided by the National Organization of Life and Health Insurance Guaranty Associations and the amount of its premiums written relative to the industry-wide premium in the State of New York. The Company accrues the estimated cost of
future guaranty fund assessments when it is considered probable that an assessment will be imposed, the event obligating the Company to pay the assessment has occurred and the amount of the assessment can be reasonably estimated.
As of both December 31, 2024 and 2023, the Company had no accrual established for estimated future guaranty fund assessments.
F-45
SAI9025_12_D01_(05/25)
PART C –
OTHER INFORMATION
| |
|
Annuity Account
dated April 17, 1996, filed electronically as Exhibit 1 to Registrant's Initial Registration Statement No. 333-03867 is incorporated by reference. |
| |
|
Plan of Merger and subsequent name changes, dated Aug. 29, 2006, filed electronically as Exhibit 1.11 to Registrant's
Post-Effective Amendment No. 22 to Registration Statement No. 333-91691 is incorporated by
reference. |
| |
|
|
| |
|
Life Insurance filed electronically as Exhibit 3.1 to the Initial Registration Statement on Form N-4 for RiverSource of New
York Variable Annuity Account 2 (previously ACL Variable Annuity Account 2), RiverSource
Endeavor Select(SM) Variable Annuity, RiverSource Innovations(SM) Select
Variable Annuity and RiverSource Innovations(SM) Variable Annuity, on or
about Jan. 2, 2007, is incorporated by reference. |
| |
|
|
| |
|
Post-Effective Amendment No. 8 to Registration Statement No. 333-91691 is incorporated herein by reference. |
| |
|
Amendment No. 8
to Registration Statement No. 333-91691 is incorporated herein by reference. |
| |
|
Amendment No. 8
to Registration Statement No. 333-91691 is incorporated herein by reference. |
| |
|
electronically as Exhibit 4.16 to Registrant's Post-Effective Amendment No. 22 to Registration Statement No. 333-91691, is
incorporated by reference. |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
Exhibit 4.13 to
Registrant’s Initial Registration Statement No. 333‐229361, filed on or about Jan.25, 2019 is incorporated by reference. |
| |
|
|
| |
|
Exhibit 4.15 to Registrant’s Initial Registration Statement No. 333‐229361, filed on or about Jan.25, 2019 is incorporated
by reference. |
| |
|
|
| |
|
|
| |
|
|
| |
|
Registration Statement No. 333‐229361, filed on or about Jan.25, 2019 is incorporated by reference. |
| |
|
Registration Statement No. 333‐229361, filed on or about Jan.25, 2019 is incorporated by reference. |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
Statement No. 333-91691 is incorporated herein by reference.See Exhibit 5 to Registration Statement No. 333-91691 filed
on 4/28/1998. |
| |
|
Exhibit 27(f)(1) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated by reference. |
| |
|
Exhibit 27(f)(2) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated by reference. |
| |
|
|
| |
|
Company, IDS Life Insurance Company
of New York, Ameriprise Financial Services, Inc., AllianceBernstein L.P. and
AllianceBernstein Investments, Inc. filed electronically as Exhibit 27(h) (2) to
Post-Effective Amendment No. 48 to Registration Statement No. 333-44644 is
incorporated herein by reference. |
| |
|
Assurance Company, American
Enterprise Life Insurance Company, American Partners Life Insurance Company, IDS Life Insurance Company, IDS Life Insurance Company of New York, Ameriprise Financial Services, Inc. and American Century
Investment Services, Inc. filed electronically as Exhibit 27(h)(3) to Post-Effective
Amendment No. 48 to Registration Statement No. 333-44644 is incorporated
herein by reference. |
| |
|
Company of New York,
Columbia Funds Variable Insurance Trust I, Columbia Management Advisors, LLC and Columbia Management Distributors, Inc. filed electronically as Exhibit 27(h) (13) to Post-Effective Amendment No. 48 to Registration
Statement No. 333-44644 is incorporated herein by reference. |
| |
|
|
| |
|
Franklin/Templeton
Distributors, Inc., American Centurion Life Assurance Company, American Enterprise Life Insurance Company, IDS Life Insurance Company, IDS Life Insurance Company of New York, Ameriprise Financial Services, Inc.
(formerly American Express Financial Advisors Inc.), dated August 1, 2005 filed
electronically as Exhibit 8.7 to Registrant's Post-Effective Amendment No. 20
to Registration Statement No. 333-91691 is incorporated by reference. |
| |
|
Centurion Life
Assurance Company, IDS Life Insurance Company of New York and Janus Aspen Series filed electronically as Exhibit 27(h)(9) to Post-Effective Amendment No. 48 to Registration Statement No. 333-44644 is incorporated herein by
reference. |
| |
|
|
| |
|
Insurance Trust and Allianz
Global Investors Distributors LLC filed electronically as Exhibit 8.17 to Post-Effective Amendment No. 22 to Registration Statement No. 333-91691 is incorporated by reference. |
| |
|
Insurance Co. of New
York and RiverSource Distributors, Inc. filed electronically as Exhibit 8.23 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated herein by reference. |
| |
|
|
| |
|
Wells Fargo Distributor,
LLC dated Jan. 1, 2007 filed electronically as Exhibit 8.25 to Registrant's Post-Effective Amendment No. 24 to Registration Statement No. 333-91691 is incorporated herein by reference. |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
Company, IDS Life Insurance
Company of New York, Goldman Sachs Variable Insurance Trust and Goldman, Sachs & Co. filed electronically as Exhibit 27 (h)(18) to Post-Effective Amendment No. 48 to Registration Statement No. 333-44644 is
incorporated herein by reference. |
| |
|
New York, Legg Mason
Partners Variable Portfolios I, Inc. (formerly Salomon Brothers Variable Series Fund, Inc.), Legg Mason Partners Variable Portfolios II, Inc. (formerly Greenwich Street Series Fund, formerly Smith Barney Series Fund,
formerly Smith Barney Shearson Series Fund, formerly Shearson Series Fund), Legg Mason
Partners Variable Portfolios III, Inc. (formerly Travelers Series Fund Inc.,
formerly Smith Barney Travelers Series Fund Inc.) and Legg Mason Investor
Services, LLC filed electronically as Exhibit 8.14 to Post-Effective Amendment No. 22 to
Registration Statement No. 333-91691 is incorporated by
reference. |
| |
|
Stanley Investment
Management Inc., Morgan Stanley Distribution, Inc., American Centurion Life Assurance Company and IDS Life Insurance Company of New York filed electronically as Exhibit 8.21 to Post-Effective Amendment No. 22 to
Registration Statement No. 333-91691 is incorporated by reference.
|
| |
|
|
| |
|
Distributors, Inc.
and Lazard Asset Management Securities LLC and Lazard Retirement Series, Inc. filed electronically as Exhibit 8.27 to Registrant's Post-Effective Amendment No. 24 to Registration Statement No. 333-91691 is incorporated
herein by reference. |
| |
|
and INVESCO Distributors,
Inc., dated August 13, 2001 filed electronically as Exhibit 8.8 to Registrant's Post-Effective Amendment No. 4 to Registration Statement No. 333-91691 is incorporated herein by reference. |
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Item 28. Directors and Officers of the Depositor The following are the Officers and Directors who are engaged directly or indirectly in activities
relating to the Registrant or the variable annuity contracts offered by the Registrant and the executive officers of the Company:
| |
Principal Business Address*
|
Position and Offices With Depositor |
| |
1765 Ameriprise Financial Center Minneapolis, MN 55474 |
President and Chief Executive Officer |
| |
1333 Jones St. #401San Francisco CA 94109 |
|
| |
|
Senior Vice President - Corporate Tax |
| |
|
Senior Vice President and Chief Actuary |
| |
940 Cape Marco Drive #2205Marco Island FL 34145 |
|
| |
BST& Co. CPAs, LLP
26 Computer Drive West
Albany, NY 12205 |
|
| |
|
|
| |
|
|
| |
|
Chairman of the Board, Senior Vice President – Service & Operations |
| |
|
Senior Vice President and Treasurer |
| |
Principal Business Address*
|
Position and Offices With Depositor |
| |
|
|
| |
|
Vice President, Chief Financial Officer and Controller |
| |
|
Vice President – National Sales Manager - Insurance |
*
Unless otherwise noted, the business address is 70100 Ameriprise Financial
Center, Minneapolis, MN 55474.
Item 29. Persons Controlled by or Under Common Control with the Depositor or the Registrant
The following is the list of subsidiaries of Ameriprise Financial,
Inc:
SUBSIDIARIES AND AFFILIATES OF AMERIPRISE FINANCIAL, INC.
Parent Company /Subsidiary Name |
|
Ameriprise Financial, Inc.* |
|
Ameriprise Advisor Capital, LLC |
|
Ameriprise Advisor Financing 2, LLC |
|
Ameriprise Asset Management Holdings Singapore (Pte.) Ltd. |
|
Threadneedle Portfolio Services Hong Kong Limited |
|
Columbia Threadneedle Investments Japan Co., Ltd. |
|
Columbia Threadneedle Malaysia Sdn Bhd. |
|
Threadneedle Investments Singapore (Pte.) Ltd. |
|
| |
|
Ameriprise Capital Trust I |
|
Ameriprise Capital Trust II |
|
Ameriprise Capital Trust III |
|
Ameriprise Capital Trust IV |
|
Ameriprise Captive Insurance Company |
|
Ameriprise Certificate Company |
|
Investors Syndicate Development Corporation |
|
Ameriprise Holdings, Inc. |
|
Ameriprise Installment Financing, LLC |
|
| |
|
Ameriprise India Partner, LLC |
|
| |
|
| |
|
American Enterprise Investment Services Inc.2 |
|
Ameriprise Financial Services,
LLC2 |
|
AMPF Property Corporation |
|
Investment Professionals,
Inc.2 |
|
Columbia Management Investment Advisers, LLC |
|
Advisory Capital Strategies Group Inc. |
|
Columbia Wanger Asset Management, LLC |
|
Emerging Global Advisors, LLC |
|
Parent Company /Subsidiary Name |
|
| |
|
J. & W. Seligman & Co. Incorporated |
|
Columbia Management Investment Distributors, Inc.2 |
|
| |
|
| |
|
Lionstone BBP Limited Partner, LLC |
|
Lionstone CREAD Partners Two, LLC |
|
| |
|
| |
|
| |
|
Cash Flow Asset Management GP, LLC |
|
Cash Flow Asset Management,
L.P.4 |
|
Lionstone Advisory Services, LLC |
|
Lionstone CFRE II Real Estate Advisory, LLC |
|
Lionstone Development Services, LLC |
|
LPL 1111 Broadway GP, LLC |
|
| |
|
Lionstone Raleigh Development Partners GP, LLC |
|
Lionstone RDP Channel House Investors, L.P. |
|
Lionstone RDP PCS Phase I Investors, L.P. |
|
Lionstone RDP Platform Investors, L.P. |
|
Lionstone RDP Tower V Investors GP, LLC |
|
Lionstone RDP St. Albans Investors GP, LLC |
|
Lionstone RDP Co-Investment Fund I GP, LLC |
|
| |
|
RiverSource CDO Seed Investments, LLC |
|
Columbia Management Investment Services Corp. |
|
Columbia Threadneedle Investments UK International Limited |
|
Columbia Threadneedle (Europe) Limited |
|
Columbia Threadneedle AM (Holdings) Limited |
|
| |
|
| |
|
Columbia Threadneedle Capital (Group) Limited |
|
Columbia Threadneedle Capital (Holdings) Limited |
|
Columbia Threadneedle Capital (UK) Limited |
|
Parent Company /Subsidiary Name |
|
Columbia Threadneedle Multi-Manager LLP |
|
| |
|
Columbia Threadneedle Group (Holdings) Limited |
|
Columbia Threadneedle Group (Management) Limited |
|
Columbia Threadneedle Holdings Limited |
|
Columbia Threadneedle Management Limited |
|
FCEM Holdings (UK) Limited |
|
Columbia Threadneedle Netherlands B.V. |
|
F&C Alternative Investments (Holdings) Limited |
|
Columbia Threadneedle Treasury Limited |
|
| |
|
Columbia Threadneedle Fund Management Limited |
|
Columbia Threadneedle Managers Limited |
|
Columbia Threadneedle (Services) Limited |
|
Columbia Threadneedle Management (Swiss) GmbH‡ |
|
Columbia Threadneedle Investment Business Limited |
|
Columbia Threadneedle PE Co-Investment GP LLP |
|
| |
|
Columbia Threadneedle PE Co-Investment FP LP6 |
|
Columbia Threadneedle Real Estate Partners LLP7 |
|
CT UK Residential Real Estate FCP-RAIF (Associate) |
|
REIT Asset Management Limited |
|
Columbia Threadneedle Real Estate Partners S.à.r.l. |
|
CT Real Estate Partners GmbH & Co. KG, München |
|
CT Real Estate Partners Verwaltungsgesellschaft mbH, München (General Partner) |
|
Columbia Threadneedle Real Estate Partners Asset Management Limited |
|
Columbia Threadneedle REP Property Management Limited |
|
Castle Mount Impact Partners GP LLP |
|
Parent Company /Subsidiary Name |
|
Castle Mount Impact Partners FP LP |
|
| |
|
LPE II (Founding Partner) LP |
|
The Aurora Fund (Founder Partner)
LP6 |
|
F&C Climate Opportunity Partners (GP) Limited |
|
F&C Climate Opportunity Partners (GP) LP |
|
F&C Climate Opportunity Partners (Founder Partner) LP6 |
|
F&C Equity Partners Holdings Limited |
|
F&C European Capital Partners (Founder Partner) LP6 |
|
F&C European Capital Partners II (GP) Limited |
|
F&C European Capital Partners II (Founder Partner) LP6 |
|
F&C European Capital Partners II (GP) LP |
|
F&C Group ESOP Trustee Limited |
|
F&C Investment Manager Limited |
|
FP Asset Management Holdings Limited |
|
Columbia Threadneedle Asset Managers Limited |
|
| |
|
Columbia Threadneedle (EM) Investments Limited |
|
Pyrford International Limited |
|
RiverSource Distributors,
Inc.2 |
|
RiverSource Life Insurance Company |
|
Columbia Cent CLO Advisers, LLC |
|
RiverSource Life Insurance Co. of New York |
|
| |
|
| |
|
RiverSource Tax Advantaged Investments, Inc. |
|
AEXP Affordable Housing Portfolio,
LLC8 |
|
TAM UK International Holdings Limited |
|
Columbia Threadneedle Investments (ME) Limited |
|
| |
|
| |
|
Threadneedle Asset Management Oversight Limited |
|
Parent Company /Subsidiary Name |
|
Ameriprise International Holdings GmbH |
|
Threadneedle EMEA Holdings 1, LLC |
|
Threadneedle Holdings Limited |
|
| |
|
Threadneedle Asset Management Holdings Limited** |
|
Columbia Threadneedle Foundation |
|
| |
|
Threadneedle Asset Management Limited |
|
Threadneedle Investment Services Limited |
|
Threadneedle Asset Management (Nominees) Limited |
|
Sackville TIPP Property (GP) Limited |
|
Threadneedle Asset Management Finance Limited |
|
| |
|
Threadneedle International Limited |
|
Threadneedle Investments (Channel Islands) Limited |
|
Threadneedle Investments Limited |
|
Threadneedle Management Services Limited |
|
Threadneedle Pension Trustees Limited |
|
Threadneedle Navigator ISA Manager Limited |
|
Threadneedle Pensions Limited |
|
Threadneedle Portfolio Services AG |
|
Threadneedle Portfolio Services Limited |
|
Threadneedle Property Investments Limited |
|
Sackville (CTESIF) 2&3 GP Sàrl |
|
Sackville LCW (GP) Limited |
|
Parent Company /Subsidiary Name |
|
Sackville LCW Sub LP 1 (GP) Limited |
|
Sackville LCW Nominee 1 Limited |
|
Sackville LCW Nominee 2 Limited |
|
Sackville LCW Sub LP 2 (GP) Limited |
|
Sackville LCW Nominee 3 Limited |
|
Sackville LCW Nominee 4 Limited |
|
Sackville Property Atlantic (Jersey GP) Limited |
|
Sackville Property Curtis (Jersey GP) Limited |
|
Sackville Property Farnborough (Jersey GP) Limited |
|
Sackville Property Hayes (Jersey GP) Limited |
|
Sackville UKPEC6 Hayes Nominee 1 Limited |
|
Sackville UKPEC6 Hayes Nominee 2 Limited |
|
Sackville TSP Property (GP) Limited |
|
Sackville UK Property Select II (GP) Limited |
|
Sackville UK Property Select II (GP) No. 3 Limited |
|
Sackville UK Property Select II Nominee (3) Limited |
|
Sackville UK Property Select III (GP) No. 1 Limited |
|
Sackville UK Property Select III Nominee (1) Limited |
|
Sackville UK Property Select III Nominee (2) Limited |
|
Sackville UK Property Select III (GP) No. 2 Limited |
|
Sackville UK Property Select III Nominee (3) Ltd |
|
Sackville UK Property Select III Nominee (4) Ltd |
|
Sackville UK Property Select III (GP) No. 3 Limited |
|
Sackville UK Property Select III Nominee (5) Ltd |
|
Sackville UK Property Select III Nominee (6) Ltd |
|
Sackville UK Property Select III (GP) S.à r.l. |
|
Parent Company /Subsidiary Name |
|
Sackville UK Property Select IV (GP) S.à.r.l. |
|
Sackville UK Property Select IV (GP) No. 1 Limited |
|
Sackville UK Property Select IV Nominee (1) Limited |
|
Sackville UK Property Select IV Nominee (2) Limited |
|
Sackville UK Property Select IV Nominee (7) Limited |
|
Sackville UK Property Select IV Nominee (8) Limited |
|
Sackville UK Property Select IV (GP) No. 2 Limited |
|
Sackville UK Property Select IV Nominee (3) Limited |
|
Sackville UK Property Select IV Nominee (4) Limited |
|
Sackville UK Property Select IV (GP) No. 3 Limited |
|
Sackville UK Property Select IV Nominee (5) Limited |
|
Sackville UK Property Select IV Nominee (6) Limited |
|
Sackville UKPEC1 Leeds (GP) Limited |
|
Threadneedle Property Execution 1 Limited |
|
Threadneedle Property Execution 2 Limited |
|
Threadneedle UK Property Select IV Feeder SA SICAV-RAIF |
|
Threadneedle Management Luxembourg S.A. |
|
Unless otherwise indicated all ownership interests are 100%
*
Publicly-traded company (NYSE: AMP)
**
The company has non-voting shares held by third parties
†
Regulated by Luxembourg Authority
‡
FINMA Authorized Representative office of BMO Asset Management Ltd.
1
Owned by: Ameriprise Financial, Inc. 100% profit sharing ratio with capital
contribution of 124,078,760 INR (Indian currency=rupees) & 10 INR owned each by Columbia Management Investment Advisers, LLC & Ameriprise India Partner,
LLC
2
Registered broker-dealer
3
Managed by members of onshore hedge fund feeders
4
Owned by: Lionstone Partners, LLC (99%) & Cash Flow Asset Management GP, LLC (1%)
5
Owned by: Lionstone Partners, LLC (99.9%) & LPL 1111 Broadway GP, LLC
(0.1%)
6
Columbia Threadneedle AM (Holdings) plc owns a percentage of the entity
7
Columbia ThreadneedleTreasury Limited holds 1 unit
8
One-third of this entity is owned by American Express Travel Related Services
Item 30. Indemnification
The amended and restated By-Laws of the depositor provide that the depositor
will indemnify, to the fullest extent now or hereafter provided for or permitted by law, each person involved in, or made or threatened to be made a party to, any
action, suit, claim or proceeding, whether civil or criminal, including any investigative, administrative, legislative, or other proceeding, and including any action by or in the right of the depositor or any other corporation, or any partnership, joint venture, trust, employee benefit plan, or other enterprise (any such entity, other than the depositor, being hereinafter referred to as an “Enterprise”), and including appeals therein (any such action or process being hereinafter referred to as a “Proceeding”), by reason of the fact that such person, such person’s testator or intestate (i) is or was a director or officer of the depositor, or (ii) is or was serving, at the request of the depositor, as a director, officer, or in any other capacity, or any other Enterprise, against any and all judgments, amounts paid in settlement, and expenses, including attorney’s fees, actually and reasonably incurred as a result of or in connection with any Proceeding, except as provided below.
No indemnification will be made to or on behalf of any such person if a
judgment or other final adjudication adverse to such person establishes that such person’s 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 such person personally gained in fact a financial profit or other advantage to
which such person was not legally entitled. In addition, no indemnification will be made with respect to any Proceeding initiated by any such person against the depositor, or a director or officer of the depositor, other than to enforce the terms of this indemnification provision, unless such Proceeding was authorized by the Board of Directors of the depositor. Further, no indemnification will be made with respect to any settlement or compromise of any Proceeding unless and until the depositor has consented to such settlement or compromise.
The depositor may, from time to time, with the approval of the Board of
Directors, and to the extent authorized, grant rights to indemnification, and to the advancement of expenses, to any employee or agent of the depositor or to any
person serving at the request of the depositor as a director or officer, or in any other capacity, of any other Enterprise, to the fullest extent of the provisions
with respect to the indemnification and advancement of expenses of directors and officers of the depositor.
Insofar as indemnification for liability arising under the Securities Act of
1933 (the “Act”) may be permitted to directors, officers and controlling persons of the depositor or 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.
Item 31. Principal Underwriter RiverSource Distributors Inc.
(a) RiverSource Distributors Inc. acts as principal
underwriter for:
RiverSource Variable
Annuity Account 1
RiverSource Variable Annuity Account
RiverSource Account
F
RiverSource Variable Annuity Fund A
RiverSource Variable Annuity Fund
B
RiverSource Variable Account 10
RiverSource Account SBS
RiverSource MVA Account
RiverSource Account MGA
RiverSource Account for Smith Barney
RiverSource Variable Life Separate Account
RiverSource Variable Life Account
RiverSource of New York Variable Annuity Account 1
RiverSource of New York Variable Annuity Account 2
RiverSource of New York Account
4
RiverSource of New York Account 7
RiverSource of New York Account
8
(b) As to each director, officer or
partner of the principal underwriter:
Name and Principal Business Address* |
|
Positions and Offices with Underwriter |
| |
|
|
| |
|
Chairman of the Board and Chief Executive Officer |
| |
|
Senior Vice President and Treasurer |
| |
|
|
Name and Principal Business Address* |
|
Positions and Offices with Underwriter |
| |
|
|
| |
|
|
*
The business address is 70100 Ameriprise Financial Center, Minneapolis, MN
55474.
(c) RiverSource Distributors Inc., the principal underwriter during Registrant’s last fiscal year, was paid the following commissions:
NAME OF PRINCIPAL UNDERWRITER |
NET
UNDERWRITING
DISCOUNTS AND
COMMISSIONS |
COMPENSATION ON REDEMPTION |
|
|
RiverSource Distributors, Inc. |
|
|
|
|
Item 32. Location of Accounts and Records
Item 33. Management Services
Item 34. Fee Representation
The RiverSource Life Insurance Co. of New York (the Company) hereby represents that the fees and charges deducted under the Contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses to be incurred, and the risks assumed by the Company.
The Company hereby represents that it is relying on the November 28, 1988 no-action letter (Ref. No. IP-6-88) relating to variable annuity contracts offered as funding vehicles for retirement plans meeting the requirements of Section 403(b) of the Internal Revenue Code. Registrant further represents that it will comply with the provisions of paragraphs (1)-(4) of that letter.
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of 1940, RiverSource Life Insurance Co. of New York, on behalf of the Registrant, certifies that it meets all of the requirements of Securities Act Rule 485(b) for effectiveness of this Amendment to its Registration Statement and has caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Minneapolis, and State of Minnesota, on April 25,
2025.
| |
RiverSource of New York Variable Annuity Account |
| |
|
| |
|
|
| |
|
Gumer C. Alvero President and Chief Executive Officer |
As required by the Securities Act of 1933, this Amended Registration Statement has been signed by the Depositor on April 25, 2025.
| |
RiverSource Life Insurance Co. of New York |
| |
|
| |
|
|
| |
|
Gumer C. Alvero President and Chief Executive Officer |
As required by the Securities Act of 1933, Amendment to this Registration Statement has been signed by the following persons in the capacities indicated on April 25, 2025.
| |
|
| |
President and Chief Executive Officer (Chief Executive Officer)
|
| |
| |
Senior Vice President – Corporate Tax |
| |
| |
Director, Senior Vice President and Chief Actuary |
| |
| |
Senior Vice President and Treasurer |
| |
| |
Chairman of the Board, Senior Vice President – Service & Operations |
| |
| |
|
| |
| |
|
| |
| |
|
| |
| |
|
| |
| |
|
| |
| |
|
| |
Vice President, Chief Financial Officer and Controller (Principal Accounting Officer) (Chief Financial Officer) |
| |
Signed pursuant to Power of Attorney to sign Amendment to this Registration Statement, dated April 24, 2025, filed electronically as Exhibit (p) to RiverSource of New York Variable Annuity’s Post-Effective Amendment 20 to Registration Statement on Form N-4, File No.333-230375, is incorporated herein by reference.
, is incorporated by reference herewith, by:
| |
|
Nicole D. Wood Assistant General Counsel and Assistant Secretary |
|
CONTENTS OF
Post-Effective Amendment No. 6
This Registration Statement is comprised of the following papers and documents:
RiverSource RAVA 5 Advantage Variable Annuity
(Offered for contract applications signed on or
after April 29, 2019)
The combined Statement of Additional Information and Financial Statements
for RiverSource of New York Variable Annuity Account dated May 1,
2025 is filed electronically herewith.
Exhibit
Index
| |
Opinion of counsel and consent to its use as to the legality of the securities being registered. |
| |
Consent of Independent Registered Public Accounting Firm |
| |
|
