VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

MULTIPLE SPONSORED RETIREMENT OPTIONS II

A GROUP DEFERRED FIXED AND VARIABLE ANNUITY CONTRACT

(“THE CONTRACT” OR “CONTRACTS”)

issued to

Plans Established by Eligible Organizations Under Tax Code Sections 401(a),
401(k), 403(b) and 457, including Roth 401(k), Roth 403(b)
and Roth 457(b) Plans

UPDATING SUMMARY PROSPECTUS

May 1, 2024

Two classes of the Contract are described in this updating summary prospectus (“summary prospectus”). The Texas K-12 Contract (“Texas K-12 Contract”) are voluntary 403(b) annuity contracts issued to employees of K-12 public schools in Texas. The Texas K-12 Contract meets the requirements established by the Teachers Retirement System of Texas in support of Senate Bill 273. Contract other than Texas K-12 Contract are issued in connection with plans established by eligible organizations under Tax Code Sections 401(a), 401(k), 403(b) and 457, including Roth 401(k), Roth 403(b), and Roth 457(b) plans.

The full prospectus for the Contract contains more information about the Contract, including the features, benefits, and risks. You can find the current prospectus and other information about the Contract online at https://prospectus.voya.com/MSROII You can also obtain this information at no cost by calling 1-800-584-6001 or by sending an email request to ProspectusRequests@voya.com.

Additional general information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at https://www.Investor.gov.

If a participant elects to deduct from the participant’s account advisory fees due under an independent advisory services agreement between the participant and an investment adviser, then such deductions will reduce the death benefit payable under the participant’s certificate and also may be subject to federal and state income taxes and a 10% federal penalty tax.

The U. S. Securities and Exchange Commission (the “SEC”) has not approved or disapproved this Contract or passed upon the adequacy of this summary prospectus. Any representation to the contrary is a criminal offense.

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TABLE OF CONTENTS

SPECIAL TERMS USED IN THIS SUMMARY PROSPECTUS	3
UPDATED INFORMATION ABOUT YOUR CONTRACT	4
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT	5
APPENDIX:  FUNDS AVAILABLE UNDER THE CONTRACT	10
HOW TO GET MORE INFORMATION	33

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SPECIAL TERMS USED IN THIS SUMMARY PROSPECTUS

The following are some of the important terms used throughout this summary prospectus that have special meaning.

Account Value: The value of: (1) amounts allocated to the Fixed Interest Options, including interest earnings to date; less (2) any deductions from the Fixed Interest Options (e.g., withdrawals and fees); and plus (3) the current dollar value of amounts allocated to the Subaccounts of Variable Annuity Account C, which includes investment performance and fees deducted from the Subaccounts.

Contract or Contracts: The group deferred fixed and variable annuity Contract offered by your Plan Sponsor as a funding vehicle for your retirement plan.

Contract Holder: The person to whom we issue the Contract. Generally, the Plan Sponsor or a trust.

Contract Loans: Loans initiated by a participant from their Vested individual Account Value allocated to certain Subaccounts and Fixed Interest Options. Amounts equal to a Contract Loan are transferred to the General Account.

Customer Service: The location from which we service the Contracts. The mailing address and telephone number of Customer Service is Defined Contributions Administration, P.O. Box 990063, Hartford, CT 06199-0063, 1-800-584-6001.

Fixed Interest Options: The Guaranteed Accumulation Account, The Fixed Account, the Fixed Plus Account and the Fixed Plus Account II A are Fixed Interest Options that may be available during the Accumulation Phase under some Contracts. Amounts allocated to the Guaranteed Accumulation Account are deposited in a nonunitized separate account established by the Company. Amounts allocated to the Fixed Interest Options are held in the Company’s General Account which supports insurance and annuity obligations.

Fund(s): The underlying mutual Funds in which the Subaccounts invest.

General Account: The account that contains all of our assets other than those held in Variable Annuity Account C or one of our other separate accounts.

Investor (also “you” or “participant”): The individual who participates in the Contract through a retirement plan.

Loan Interest Rate Spread: The difference between the rate charged and the rate credited on loans under your Contract.

Plan Loans: Loans initiated by 401(a), 401(k), 403(b) or governmental 457 plan participants from Vested account balances. Amounts equal to a Plan Loan are transferred to a trust or custodial account held by the Plan Sponsor.

Plan Sponsor: The sponsor of your retirement plan. Generally, your employer.

Purchase Payment: Collectively, the initial purchase payment and any additional purchase payment.

Subaccount: Division(s) of Variable Annuity Account C that are investment options under the Contract. Each Subaccount invests in a corresponding underlying mutual Fund.

Tax Code: The Internal Revenue Code of 1986, as amended.

VRIAC, the Company, we, us and our: Voya Retirement Insurance and Annuity Company, a stock company domiciled in Connecticut, that issues the Contract described in this summary prospectus.

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Variable Annuity Account C, the Separate Account: Voya Variable Annuity Account C, a segregated asset account established by us to fund the variable benefits provided by the Contract. The Variable Annuity Account C is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and it also meets the definition of “separate account” under the federal securities laws.

Variable Investment Options: The Subaccounts of Variable Annuity Account C. Each one invests in a specific mutual Fund.

Vested: The amount of money in a participant’s individual account attributable to participant contributions. In an, employer-sponsored retirement plan (i.e., a 401(k) or 403(b) plan), the Vested amount may include employer matching contributions.

UPDATED INFORMATION ABOUT YOUR CONTRACT

The information in this summary prospectus is a summary of certain Contract features that have changed since May 1, 2023. This may not reflect all of the changes that have occurred since you entered into your Contract.

• Investment Options

• Effective December 1, 2023, the VY^® Invesco Global Portfolio changed its name to Voya Global Insights Portfolio

• Effective December 1, 2023, Invesco Advisors, Inc. was replaced as subadviser for the Voya Global Insights Portfolio with Voya Investment Management Co. LLC.

• ClearBridge Aggressive Growth Fund will change their name to ClearBridge Growth Fund effective May 1, 2024.

• Effective December 31, 2024, the Delaware Ivy Science and Technology Fund will merge into the Macquarie Science and Technology Fund.

• Effective December 31, 2024 the Delaware Small Cap Value Fund merging into Macquarie Small Cap Value Fund.

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IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT

FEES AND EXPENSES
Charges for Early Withdrawals	If the Investor withdraws money from the Contract within ten (10) years following a specified date, the Investor can be assessed an early withdrawal charge equal to a maximum of 7% of the amount withdrawn. The specified date referenced in the preceding sentence can vary depending on the terms of the Contract, and will be either: (1) the date the individual account was established; or (2) the date the Contract was established. For example, if you make an early withdrawal from a K-12 Contract, you could pay a surrender charge of up to $7,000 on a $100,000 investment. Please also note that withdrawals from the Guaranteed Accumulation Account are subject to a Market Value Adjustment, which can be either positive or negative (see Appendix B to this prospectus). See “FEE TABLE – Transaction Expenses” and “CHARGES AND FEES – Transaction Fees – Early Withdrawal Charge” in the full Contract Prospectus.
Transaction Charges	In addition to the early withdrawal charge, the Investor may also be charged for other transactions. If you take a Contract Loan from your Account Value, you may be subject to a Loan Initiation fee not to exceed $125 per loan; •  Certain Funds may impose redemption fees as a result of withdrawals, transfers or other Fund transactions you may initiate; and •   Charges for advisory services due to an independent advisory services agreement between you and an investment advisor may be deducted from contract value. See “FEE TABLE – Transaction Expenses” and “CHARGES AND FEES” in the full Contract Prospectus.

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FEES AND EXPENSES (continued from previous page)
Ongoing Fees and Expenses (annual Charges)	The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. A Loan Interest Rate Spread (which is the difference between the rate charged and the rate credited on loans under your contract) or an Annual Loan administration fee is charged until the loan is repaid. These ongoing fees and expenses do not reflect any advisory fees due under an independent advisory services agreement with a participant, and if such charges were reflected, these ongoing fees and expenses would be higher.
	Annual Fee		Minimum	Maximum
	Base Contract Expenses (varies by Contract class)		1.25%1, 2	1.75% 1, 2
	Investment options (Portfolio Company fees and expenses)		0.17%3	1.64%3
	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 early withdrawal charges that substantially increase costs.
	Texas K-12	Texas K-12
	Lowest Annual Cost Estimate:	Highest Annual Cost Estimate:
	$259	$2,713
	All Other Contracts	All Other Contracts
	Lowest Annual Cost Estimate: $259	Highest Annual Cost Estimate: 2,889
	Assumes: •   Investment of $100,000; •   5% annual appreciation; •   No optional benefits; •   Fees and expenses of least expensive Fund •   No sales charges or advisory fees; and •   No additional Purchase Payments, transfers or withdrawals.	Assumes: •   Investment of $100,000; •   5% annual appreciation; •   Fees and expensive for the most expensive Fund; •   No sales charges or advisory fees; and •   No additional Purchase Payments, transfers or withdrawals.
	See “FEE TABLE – Periodic Fees and Expenses” and “CHARGES AND FEES – Periodic Fees and Charges” in the full Contract Prospectus.

1	As a percentage of average Account Value.
2	The Base Contract Expenses include (1) the mortality and expense risk charge (1.25% for Texas K-12 Contracts and 1.50% for all other Contracts), which compensates us for the mortality and expense risks we assume under the Contract, including those risks associated with our funding of the death benefit, including any guaranteed death benefits; and (2) a $50 annual maintenance fee converted to an annual percentage equal to 0.0987235%. The administrative expense charge and the annual maintenance fee may be reduced or eliminated in certain circumstances. The minimum amount reflects these reductions or eliminations, while the maximum amount does not. Additionally, the minimum amount reflects the lower mortality and expense risk charge for K-12 Contracts and the maximum amount reflects the higher mortality and expense risk charge for all other Contracts. See “CHARGES AND FEES – Periodic Fees and Charges.”
3	These expenses, which include management fees, distribution (12b-1) and/or service fees and other expenses, do not take into account any fee waiver or expense reimbursement arrangements that may apply. These expenses are for the year ended December 31, 2023, and will vary from year to year.

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RISKS
Risk of Loss	An Investor can lose money by investing in the Contract. See “PRINCIPAL RISKS OF INVESTING IN THE CONTRACT” in the prospectus for the Contract.
Not a Short-Term Investment	This Contract is not designed for short-term investing and is not appropriate for an Investor who needs ready access to cash. The Contract is typically most useful as part of a personal retirement plan. Early withdrawals may be restricted by the Tax Code or your plan and may expose you to early withdrawal charges or tax penalties. You should not participate in this Contract if you are looking for a short-term investment or expect to make withdrawals before you are age 59½. You may not receive any distribution before retirement, except upon reaching age 70½ or terminating employment with Texas public institutions of higher learning. See “PRINCIPAL RISKS OF INVESTING IN THE CONTRACT” in the full Contract Prospectus.
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 the Guaranteed Accumulation Account and the other Fixed Interest Options) will have its own unique risks, and you should review these investment options before making an investment decision. If all or a portion of your Account Value in the Guaranteed Accumulation Account is withdrawn, you could experience a loss as to the amount invested in that account. See ‘THE INVESTMENT OPTIONS – The Variable Investment Options” APPENDIX A, APPENDIX B, APPENDIX C, APPENDIX D, and APPENDIX E in the full Contract Prospectus and “APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT” to this summary prospectus.
Insurance Company Risks	An investment in the Contract is subject to the risks related to VRIAC, including that any obligations, including under the Fixed Interest Options, guarantees or benefits are subject to the claims-paying ability of VRIAC. More information about VRIAC, including its financial strength ratings, is available upon request, by contacting Customer Service. See “THE CONTRACT – The General Account” in the full Contract Prospectus.

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RESTRICTIONS
Investment Options	•   Generally the Contract Holder or you, if permitted by the plan, may select no more than 25 investment options at enrollment. Thereafter, more than 25 investment options can be selected at any one time; •   Some Subaccounts and Fixed Interest Options may not be available through certain Contracts, your plan or in some states; See your Contract or certificate for any state specific variations; •   Not all Fixed Interest Options may be available for current or future investment; •   There are certain restrictions on transfers from the Fixed Interest Options; •  The Company reserves the right to combine two or more Subaccounts, close Subaccounts or substitute a new Fund for a Fund in which a Subaccount currently invests; and •  The Contract is not designed to serve as a vehicle for frequent transfers. We actively monitor Fund transfer and reallocation activity to identify violations of our Excessive Trading Policy. Electronic trading privileges will be suspended if the Company determines, in its sole discretion, that our Excessive Trading Policy has been violated. See “THE INVESTMENT OPTIONS – Selecting Investment Options and Right to Change the Separate Account” and “THE CONTRACT – Limits on Frequent or Disruptive Transfers” in the full Contract Prospectus.
Optional Benefits	•    We may discontinue or restrict the availability of an optional benefit; •   Benefits available to you may vary based on employer and state approval. Participants should refer to their plan documents for available benefits; and •   If a participant elects to pay advisory fees from the Variable Investment Options, such deductions will reduce the death benefit amount and also may be subject to federal and state income taxes and a 10% federal tax penalty. See the “Optional Benefits Available Under the Contract – Other Optional Benefits” and “MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT” sections of this summary prospectus.
TAXES
Tax Implications	•   You should consult with a tax and/or legal adviser to determine the tax implications of an investment in, and distributions received under, the Contract; •   There is no additional tax benefit to the Investor if the Contract is purchased through a tax-qualified plan or individual retirement account (“IRA”); and •    Withdrawals will be subject to ordinary income tax and may be subject to tax penalties. See “FEDERAL TAX CONSIDERATIONS” in the full Contract Prospectus.

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CONFLICTS OF INTEREST
Investment Professional Compensation	•   We pay compensation to broker/dealers whose registered representatives sell the Contract. •  Compensation may be paid in the form of commissions or other compensation, depending upon the agreement between the broker/dealers and the registered representative. •   Because of this sales-based compensation, an investment professional may have a financial incentive to offer or recommend the Contract over another investment. See “OTHER TOPICS – Contract Distribution” in the full Contract Prospectus.
Exchanges	Some investment professionals may have a financial incentive to offer you a new Contract in place of the one you own. You should exchange your Contract only if you determine, after comparing the features, fees and risks of both contracts, that it is preferable for you to purchase the new contract rather than continue to own the existing Contract. See “PRINCIPAL RISKS OF INVESTING IN THE CONTRACT” in the full Contract Prospectus.

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APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT

The following is a list of Funds available under the Contract. The Funds available to you may vary based on employer and state approval and participants should refer to their plan documents for a list of available Funds.

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 https://vpx.broadridge.com/getcontract1.asp?dtype=pros&cid=voyavpx&fid=NRVA28672. You can also request this information at no cost by calling Customer Service at 1-800-584-6001 or by sending an email request to ProspectusRequests@voya.com.

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.

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks to provide long-term capital appreciation.	AMG River Road Mid Cap Value Fund4 (Class N) Investment Adviser: AMG Funds LLC Subadviser: River Road Asset Management, LLC	1.11%	22.64%	12.22%	7.03%
Seeks long-term capital appreciation.	Alger Responsible Investing Fund4 (Class A) Investment Adviser: Fred Alger Management, LLC	1.09%	36.73%	16.34%	11.33%
Seeks long-term capital growth, consistent with Islamic principles.	Amana Growth Fund4 (Investor Shares) Investment Adviser: Saturna Capital Corporation	0.91%	25.66%	18.68%	14.29%
Seeks current income and preservation of capital, consistent with Islamic principles. Current income is the Fund’s primary objective.	Amana Income Fund4 (Investor Shares) Investment Adviser: Saturna Capital Corporation	1.02%	13.55%	12.63%	9.25%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
4	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks long-term capital appreciation and current income.	American Beacon Small Cap Value Fund5 (Investor Class) Investment Adviser: American Beacon Advisors, Inc. Subadvisers: Barrow, Hanley, Mewhinney & Strauss, LLC; DePrince, Race & Zollo, Inc.; Hotchkis and Wiley Capital Management, LLC; Brandywine Global Investment Management, LLC; Newton Investment Management North America, LLC	1.12%	16.29%	11.75%	7.08%
Seeks to provide total return and inflation protection consistent with investment in inflation-indexed securities.	American Century Investments® Inflation-Adjusted Bond Fund5 (Investor Class) Investment Adviser: American Century Investment Management, Inc.	0.51%	3.16%	2.72%	1.92%
Seeks to strive for the balanced accomplishment of three objectives:  current income, growth of capital and conservation of principal.	American Funds® – American Mutual Fund® 5 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	0.62%	9.34%	10.69%	9.08%
Seeks (1) to provide a level of current income that exceeds the average yield on U.S. stocks generally and (2) to provide a growing stream of income over the years. The Fund’s secondary objective is to provide growth of capital.	American Funds® – Capital Income Builder® 5 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	0.62%	8.93%	7.10%	5.14%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
5	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks to provide long-term growth of capital.	American Funds® – EuroPacific Growth Fund® 6 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	0.82%	15.65%	7/66%	4.53%
Seeks to achieve long-term growth of capital and income.	American Funds® – Fundamental Investors® 6 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	0.63%	25.82%	13.48%	10.51%
Seeks to provide long-term capital appreciation.	American Funds® – New World Fund® 6 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	0.92%	15.81%	8.54%	5.14%
Seeks to provide long-term growth of capital.	American Funds® – SMALLCAP World Fund® 6 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	1.01%	18.90%	10.58%	7.67%
Seeks to provide growth of capital.	American Funds® – The Growth Fund of America® 6 (Class R-4) Investment Adviser: Capital Research and Management CompanySM	0.65%	37.17%	14.87%	11.81%
Seeks long-term capital appreciation.	Ariel Fund6 (Investor Class) Investment Adviser: Ariel Investments, LLC	0.99%	7.31%	7.91%	4.59%
Seeks maximum long-term capital growth.	Artisan International Fund6 (Investor Class) Investment Adviser: Artisan Partners Limited Partnership	1.19%	14.26%	6.84%	3.41%

*	Operating Expenses reflecting waivers or expense limitations as reported in the Fund’s expenses.
6	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks to provide increasing dividend income over time, long-term growth of capital, and a reasonable level of current income.	Ave Maria Rising Dividend Fund7 Investment Adviser: Schwartz Investment Counsel, Inc.	0.91%	13.19%	12.79%	9.19%
Seeks long-term growth of capital.	BlackRock Health Sciences Opportunities Portfolio7 (Institutional Shares) Investment Adviser: BlackRock Advisors, LLC	0.84%	3.84%	10.56%	11.73%
Seeks capital appreciation and, secondarily, income, by investing in securities, primarily equity securities that Fund management believes are undervalued and therefore represent an investment value.	BlackRock Mid Cap Value Fund7 (Institutional Shares) Investment Adviser: BlackRock Advisors, LLC	0.75%	12.57%	13.64%	8.60%
Seeks to provide a competitive total return through an actively managed portfolio of stocks, bonds and money market instruments which offer income and capital growth opportunity.	Calvert VP SRI Balanced Portfolio (Class I) Investment Adviser: Calvert Research and Management	0.65%	16.82%	10.27%	7.46%
Seeks capital appreciation.	ClearBridge Aggressive Growth Fund7** (Class I) Investment Adviser: Cohen & Steers Capital Management, Inc.	0.83%	24.03%	8.40%	6.35%
The investment objective of the Fund is total return through investment in real estate securities.	Cohen & Steers Real Estate Securities Fund, Inc.7 (Class A) Investment Adviser: Cohen & Steers Capital Management, Inc.	1.10%	12.78%	8.59%	9.03%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
**	ClearBridge Aggressive Growth Fund will change their name to ClearBridge Growth Fund effective May 1, 2024.
7	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks long-term capital appreciation.	Columbia Select Mid Cap Value Fund8 Class A) Investment Adviser: Columbia Management Investment Advisers, LLC	1.13%	10.49%	13.27%	8.41%
Seeks long-term capital growth.	DWS Small Cap Growth Fund8 (Class S) Investment Adviser: DWS Investment Management Americas, Inc.	1.27%	7.66%	11.32%	8.06%
Seeks long-term growth of capital.	Davis Financial Fund (Class Y) Investment Adviser: Davis Selected Advisers, L.P. Subadviser: Davis Selected Advisers-NY, Inc.	0.72%	10.04%	9.39%	8.10%
Seeks to provide growth of Capital.	Delaware Ivy Science and Technology Fund** (Class Y) Investment Adviser: Delaware Management Company	1.00%	41.00%	17.78%	11.51%
Seeks capital appreciation.	Delaware Small Cap Value Fund***(Class A) Investment Adviser: Delaware Management Company	0.86%	9.23%	10.04%	6.74%
Seeks to provide long-term capital growth.	Federated Hermes International Leaders Fund8 (Institutional Shares) Investment Adviser: Federated Global Investment Management Corp.	0.79%	17.35%	10.56%	4.40%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
8	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.
**	Effective December 31, 2024, the Delaware Ivy Science and Technology Fund will merge into the Macquarie Science and Technology Fund.
***	Effective December 31, 2024, the Delaware Small Cap Value Fund merging into Macquarie Small Cap Value Fund.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks capital appreciation.	Fidelity Advisor® New Insights Fund9 (Class I) Investment Adviser: Fidelity Management & Research Company LLC (“FMR”) Subadvisers: FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited	0.45%	36.26%	14.65%	11.30%
Seeks long-term capital appreciation.	Fidelity® VIP ContrafundSM Portfolio (Initial Class) Investment Adviser: Fidelity Management & Research Company LLC (“FMR”) Subadvisers: FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited	0.56%	33.45%	16.65%	11.61%
Seeks reasonable income. Also considers the potential for capital appreciation. Seeks to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500® Index.	Fidelity® VIP Equity-Income PortfolioSM (Initial Class) Investment Adviser: Fidelity Management & Research Company LLC (“FMR”) Subadvisers: FMR Investment Management (UK) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited	0.47%	10.65%	12.30%	8.58%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
9	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks capital appreciation.	Franklin Biotechnology Discovery Fund 10 (Advisor Class) Investment Adviser: Franklin Advisers, Inc.	0.82%	18.70%	8.59%	6.00%
Seeks high total return. Total return consists of both capital appreciation and current dividend and interest income.	Franklin Natural Resources Fund (Advisor Class) Investment Adviser: Franklin Advisers, Inc.	0.72%	3.03%	8.29%	4.89%
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)11 Investment Adviser: Franklin Mutual Advisers, LLC	0.91%	12.75%	11.06%	7.04%
Seeks long-term growth of capital.	Goldman Sachs Mid-Cap Growth Fund (Investor Shares)12 Investment Adviser: Goldman Sachs Asset Management, L.P.	0.91%	19.12%	13.73%	9.37%
Seeks capital appreciation.	Invesco Developing Markets Fund (Class Y),13 Investment Adviser: Invesco Advisers, Inc.	1.01%	11.40%	2.52%	1.73%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
10	This Fund is only available to plans offering the Fund prior to July 8, 2014.
11	The Franklin Small Cap Value VIP Fund is closed to investment by new Investors. Existing retirement plans and individual Investors who have investment in the Subaccount that corresponds to this fund may leave their investment in that Subaccount and may continue to make additional purchases and exchanges.
12	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.
13	The Invesco Developing Markets Fund is only available to plans offering the Fund prior to April 12, 2013.

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INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks long-term growth of capital.	Invesco Energy Fund (Class R5) Investment Adviser: Invesco Advisers, Inc.	0.89%	0.63%	11.68%	-1.40%
Seeks total return, comprised of current income and capital appreciation.	Invesco Floating Rate ESG Fund (Class R5) Investment Adviser: Invesco Advisers, Inc. Subadviser: Invesco Senior Secured Management, Inc.	0.82%	11.97%	5.00%	3.85%
Seeks total return, through growth of capital and current income.	Invesco High Yield Fund (Class R5) Investment Adviser: Invesco Advisers, Inc.	0.72%	9.92%	4.15%	3.36%

^* Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.

USP.167680-24 17 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks capital appreciation.	Invesco International Small-Mid Company Fund (Class Y)14 Investment Adviser: Invesco Advisers, Inc.	1.11%	7.85%	8.13%	4.16%
Seeks capital appreciation.	Invesco Main Street Mid Cap Fund® (Class A)14 Investment Adviser: Invesco Advisers, Inc.	1.06%	8.18%	10.45%	6.93%
Seeks total return through growth and capital and current income.	Invesco Value Opportunities Fund14 (Class R5) Investment Adviser: Invesco Advisers, Inc.	0.79%	15.51%	17.18%	9.08%
Seeks total return.	Invesco V.I. Main Street Small Cap Fund® (Series I) Investment Adviser: Invesco Advisers, Inc.	0.88%	18.13%	13.07%	8.93%
Seeks capital appreciation and current income.	JPMorgan Equity Income Fund (Class I)14, 15 Investment Adviser: J.P. Morgan Investment Management Inc.	0.45%	5.04%	11.25%	9.49%
Seeks long-term capital appreciation.	Lazard International Equity Portfolio (Open Shares)14 Investment Adviser: Lazard Asset Management LLC	1.10%	16.11%	6.46%	2.92%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
14	This Fund is only available to plans who have selected the Fund as an investment option prior to April 1, 2016.
15	This fund is closed to new sales to new retirement plans after April 3, 2017.

USP.167680-24 18 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks to deliver a high level of current income consistent with the preservation of capital by investing in a variety of short maturity debt securities including, investment grade and high yield corporate bonds, U.S. government securities, and mortgage- and other asset-backed debt securities.	Lord Abbett Short Duration Income Fund (Class R4)16 Investment Adviser: Lord, Abbett & Co. LLC	0.58%	5.17%	1.91%	1.92%
Seeks capital appreciation.	MFS® International Intrinsic Value Fund (Class R6)17 Investment Adviser: Massachusetts Financial Services Company	0.67%	18.05%	8.86%	7.22%
Seeks capital appreciation.	MFS® New Discovery Fund (Class R6) Investment Adviser: Massachusetts Financial Services Company	0.90%	14.44%	10.93%	7.62%
Seeks to maximize long-term total return.	Metropolitan West Total Return Bond Fund (Class M) Investment Adviser: Metropolitan West Asset Management, LLC	0.67%	5.76%	8.94%	5.82%
Seeks total return through a combination of capital appreciation and current income.	PGIM Jennison Utility Fund (Class Z)18 Investment Adviser: PGIM Investments LLC Subadviser: Jennison Associates LLC	0.55%	-3.62%	8.24%	7.79%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
16	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.
17	This Fund is only available to plans offering the Fund on or before October 16, 2017.
18	Effective on or about June 1, 2018, Class Z shares of the PGIM Jennison Utility Fund were closed to investments by new group retirement plans. Existing plans may keep their investment in Class Z and may continue to make additional purchases or exchanges.

USP.167680-24 19 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks maximum real return, consistent with prudent investment management.	PIMCO Commodity Real Return Strategy Fund® (Administrative Class)19 Investment Adviser: Pacific Investment Management Company LLC	1.48%	-7.85%	8.55%	-0.80%
Seeks maximum real return, consistent with preservation of real capital and prudent investment management.	PIMCO Real Return Portfolio (Administrative Class) Investment Adviser: Pacific Investment Management Company LLC	0.84%	3.67%	3.16%	2.25%
Seeks to achieve both capital appreciation and current income.	Parnassus Core Equity FundSM (Investor Shares) Investment Adviser: Parnassus Investments	0.82%	24.93%	15.48%	11.63%
Seeks to maximize current income and achieve above average total return consistent with prudent investment management over a full market cycle.	TCW Total Return Bond Fund (Class N) Investment Adviser: TCW Investment Management Company	0.70%	4.85%	-0.06%	1.05%
Seeks current income with capital appreciation and growth of income.	Templeton Global Bond Fund (Class A) Investment Adviser: Franklin Advisers, Inc.	0.96%	2.43%	-2.57%	0.62%
Seeks long-term capital appreciation.	Third Avenue Real Estate Value Fund (Institutional Class) Investment Adviser: Third Avenue Management LLC	1.15%	15.70%	10.18%	4.68%
Seeks high current income without undue risk to principal.	Victory Core Plus Intermediate Bond Fund (Class A) Investment Adviser: Victory Capital Management Inc.	0.92%	6.90%	2.52%	2.59%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
19	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

USP.167680-24 20 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks to provide long-term capital growth.	Victory Integrity Small-Cap Value Fund (Class Y) Investment Adviser: Victory Capital Management Inc.	1.06%	17.65%	12.57%	7.50%
A non-diversified Fund that seeks long-term capital appreciation and to protect the purchasing power of your capital against inflation.	Victory Core Precious Metals and Minerals Fund (Class A)20 Investment Adviser: Victory Capital Management Inc.	1.31%	6.53%	8.59%	3.62%
Seeks to outperform the S&P 500® Index.	Voya Corporate Leaders® 100 Fund (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.49%	19.37%	14.35%	10.58%
Seeks long-term capital growth and current income.	Voya Global High Dividend Low Volatility Portfolio (Class I)21 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.60%	6.74%	8.17%	N/A
Seeks total return.	Voya Global Perspectives® Portfolio (Class I)22 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.83%	10.50%	5.85%	4.31%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
20	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.
21	This Fund employs a managed volatility strategy. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Funds with Managed Volatility Strategies” for more information.
22	This Fund is structured as a Fund of Funds that invests directly in shares of underlying Funds. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Fund of Funds” for more information.

USP.167680-24 21 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks a high level of current income consistent with liquidity and safety of principal through investment primarily in Government National Mortgage Association (“GNMA”) mortgage-backed securities (also known as GNMA Certificates) that are guaranteed as to the timely payment of principal and interest by the U.S. government.	Voya GNMA Income Fund (Class A)23 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.83%	2.15%	-0.24%	0.92%
Seeks to provide high current return, consistent with preservation of capital and liquidity, through investment in high-quality money market instruments while maintaining a stable share price of $1.00.	Voya Government Money Market Portfolio (Class I)24 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.43%	4.77%	1.68%	1.08%
Seeks to maximize total return through investments in a diversified portfolio of common stock and securities convertible into common stocks. It is anticipated that capital appreciation and investment income will both be major factors in achieving total return.	Voya Growth and Income Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.67%	27.39%	16.20%	11.30%
Seeks to provide Investors with a high level of current income and total return.	Voya High Yield Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.47%	12.28%	4.87%	4.13%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
23	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.
24	There is no guarantee that the Voya Government Money Market Portfolio Subaccount will have a positive or level return.

USP.167680-24 22 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2025. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2025 Portfolio (Class I)25 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.21%	13.92%	7.35%	5.72%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2030. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2030 Portfolio (Class I)25 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.23%	15.52%	8.33%	6.39%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2035. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2035 Portfolio (Class I)25 Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.22%	17.26%	9.08%	6.80%

*	Current Expenses are each Fund’s total annual operating expenses as reported in the Fund’s prospectus.
25	This Fund is structured as a Fund of Funds that invests directly in shares of underlying Funds. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Funds of Funds” for more information.

USP.167680-24 23 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2040. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2040 Portfolio26 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.25%	18.87%	10.20%	7.37%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2045. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2045 Portfolio26 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.48%	19.54%	10.53%	7.39%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2050. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2050 Portfolio26 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.23%	19.83%	10.81%	7.67%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
26	This Fund is structured as a Fund of Funds that invests directly in shares of underlying Funds. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Funds of Funds” for more information.

USP.167680-24 24 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2055. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2055 Portfolio27 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.28%	20.33%	10.86%	7.71%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2060. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2060 Portfolio27 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.28%	20.37%	10.96%	N/A
Seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2065. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution 2065 Portfolio27 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.32%	20.41%	N/A	N/A

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
27	This Fund is structured as a Fund of Funds that invests directly in shares of underlying Funds. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Funds of Funds” for more information.

USP.167680-24 25 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Index Solution Income Portfolio28 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.68%	11.04	4.97%	4.11%
Seeks to maximize total return consistent with reasonable risk. The Portfolio seeks its objective through investments in a diversified portfolio consisting primarily of debt securities. It is anticipated that capital appreciation and investment income will both be major factors in achieving total return.	Voya Intermediate Bond Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.55%	7.28%	1.50%	2.34%
Seeks maximum total return.	Voya International High Dividend Low Volatility Portfolio29 (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co., LLC	0.74%	14.87%	6.34% 4	3.85%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of a widely accepted international index.	Voya International Index Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.46%	17.74%	7.88%	3.99%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
28	This Fund is structured as a Fund of Funds that invests directly in shares of underlying Funds. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Funds of Funds” for more information.
29	This Fund employs a managed volatility strategy. See “THE INVESTMENT OPTIONS – The Variable Investment Options – Funds with Managed Volatility Strategies” for more information.

USP.167680-24 26 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
A non-diversified Fund that seeks long-term capital growth.	Voya Large Cap Growth Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.92%	37.06%	14.06%	11.66%
Seeks long-term growth of capital and current income.	Voya Large Cap Value Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.69%	13.73%	13.20%	8.83%
Seeks long-term capital appreciation.	Voya MidCap Opportunities Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.75%	23.54%	13.62%	9.91%
Seeks maximum long-term capital appreciation.	Voya Multi-Manager International Small Cap Fund30 (Class I) Investment Adviser: Voya Investments, LLC Subadvisers: Acadian Asset Management LLC and Victory Capital Management Inc.	1.20%	14.34%	9.40%	5.37%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
30	This Fund is available to the general public in addition to being available through variable annuity contracts. See “FEDERAL TAX CONSIDERATIONS – Special Considerations for Section 403(b) Plans” for a discussion of investment in one of the public Funds under 403(b) or Roth 403(b) annuity contracts.

USP.167680-24 27 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Top 200® Index.	Voya RussellTM Large Cap Index Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.43%	29.41%	16.10%	12.31%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell Midcap® Index.	Voya RussellTM Mid Cap Index Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.40%	16.83%	12.26%	9.01%
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Russell 2000® Index.	Voya RussellTM Small Cap Index Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.45%	16.68%	9.63%	6.89%
Seeks growth of capital primarily through investment in a diversified portfolio of common stock of companies with smaller market capitalizations.	Voya Small Company Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.86%	18.00%	9.84%	7.02%
Seeks long-term capital appreciation.	Voya SmallCap Opportunities Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.86%	20.93%	9.11%	6.25%

^* Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.

USP.167680-24 28 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2030. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.	Voya Solution 2030 Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co LLC.	0.72%	15.89%	8.27%	6.46%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2040. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation	Voya Solution 2040 Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co LLC.	0.73%	19.58%	10.11%	7.42%
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2050. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation	Voya Solution 2050 Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co LLC.	0.76%	20.88%	10.66%	7.60%

^* Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.

USP.167680-24 29 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Until the day prior to its Target Date, the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2060. On the Target Date, the Portfolio’s investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation	Voya Solution 2060 Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co LLC.	0.78%	20.98%	10.60%	N/A
Seeks investment results (before fees and expenses) that correspond to the total return (which includes capital appreciation and income) of the Bloomberg Barclays U.S. Aggregate Bond Index.	Voya U.S. Bond Index Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.36%	5.03%	0.78%	1.49%
Seeks total return.	Voya U.S. Stock Index Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC	0.27%	25.93%	15.37%	11.73%
Seeks long-term capital growth. Income is a secondary objective.	VY® American Century Small-Mid Cap Value Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: American Century Investment Management, Inc.	0.85%	9.09%	12.36%	8.99%
Seeks capital appreciation.	VY® Baron Growth Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: BAMCO, Inc.	1.25%	14.80%	14.26%	9.84%

^* Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.

USP.167680-24 30 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks total return including capital appreciation and current income.	VY® CBRE Real Estate Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: CBRE Clarion Securities LLC	1.00%	14.04%	8.62%	7.43%
Seeks total return consisting of long-term capital appreciation and current income.	VY® Invesco Equity and Income Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: Invesco Advisers, Inc.	0.89%	9.97%	9.56%	6.77%
Seeks capital appreciation.	Voya Global Insights Portfolio** (Class I)** Investment Adviser: Voya Investments, LLC Subadviser: Voya Investment Management Co. LLC***.	0.86%	32.40%	11.63%	8.04%
Seeks long-term growth of capital and income.	VY® Invesco Growth and Income Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: Invesco Advisers, Inc.	0.86%	12.34%	11.85%	8.25%
Seeks capital appreciation.	VY® JPMorgan Emerging Markets Equity Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: J.P. Morgan Investment Management Inc.	1.44%	6.55%	4.48%	3.58%
Seeks capital growth over the long term.	VY® JPMorgan Small Cap Core Equity Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: J.P. Morgan Investment Management Inc.	1.13%	12.26%	0.03%	7.74%

*	Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.
**	Effective December 1, 2023, the VY® Invesco Global Portfolio changed its name to Voya Global Insights Portfolio
***	Effective December 1, 2023, Invesco Advisors, Inc. was replaced as subadviser for the Voya Global Insights Portfolio with Voya Investment Management Co. LLC.

USP.167680-24 31 

INVESTMENT OBJECTIVE	FUND NAME INVESTMENT ADVISER/SUBADVISER	CURRENT EXPENSES*	AVERAGE ANNUAL TOTAL RETURNS (as of 12/31/2023)
			1 Year	5 Years	10 Years
Seeks, over the long-term, a high total investment return, consistent with the preservation of capital and with prudent investment risk.	VY® T. Rowe Price Capital Appreciation Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: T. Rowe Price Associates, Inc.	0.89%	18.60%	12.59%	10.31%
Seeks a high level of dividend income as well as long-term growth of capital primarily through investments in stocks.	VY® T. Rowe Price Equity Income Portfolio (Class S) Investment Adviser: Voya Investments, LLC Subadviser: T. Rowe Price Associates, Inc.	0.86%	9.33%	11.04%	7.77%
A non-diversified Fund that seeks long-term growth through investments in stocks.	VY® T. Rowe Price Growth Equity Portfolio (Class I) Investment Adviser: Voya Investments, LLC Subadviser: T. Rowe Price Associates, Inc.	0.71%	20.96%	13.50%	10.80%
Seeks long-term capital appreciation.	Wanger Acorn Investment Adviser: Columbia Wanger Asset Management, LLC	0.95%	21.74%	7.51%	7.20%
Seeks long-term capital appreciation.	Wanger International Investment Adviser: Columbia Wanger Asset Management, LLC	1.14%	16.95%	6.45%	3.50%

^* Operating Expenses reflecting applicable waivers or expense limitations as reported in the Fund’s expenses.

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HOW TO GET MORE INFORMATION

This summary prospectus incorporates by reference the full Multiple Sponsored Retirement Options II Contract prospectus and Statement of Additional Information (“SAI”), each dated May 1, 2024, as amended or supplemented. You can find these documents online at https://vpx.broadridge.com/getcontract1.asp?dtype=pros&cid=voyavpx&fid=NRVA28672 for the statutory prospectus and https://vpx.broadridge.com/getcontract1.asp?dtype=sai&cid=voyavpx&fid=NRVA28672 for the SAI. You can also obtain these documents at no cost by calling 1-800-584-6001 or by sending an email request to ProspectusRequests@voya.com.

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: C000091927

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