As filed with the Securities and Exchange Commission on April 25, 2019

Registration Nos. 333-194044; 811-08183

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

Pre-Effective Amendment No. ( )

Post-Effective Amendment No. 10     (X)

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 64 (X)

VARIABLE ANNUITY-1 SERIES ACCOUNT
(Exact Name of Registrant)

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK
(Name of Depositor)

489 Fifth Ave., 28^th Floor

New York, New York 10017

(Address of Depositor’s Principal Executive Offices)

(800) 537-2033

(Depositor’s Telephone Number)

Andra S. Bolotin

President and Chief Executive Officer

Great-West Life & Annuity Insurance Company of New York
489 Fifth Ave., 28^th Floor

New York, New York 10017

(Name and Address of Agent for Service)

Copy to:

Ann B. Furman, Esq.
Carlton Fields, P.A.

1025 Thomas Jefferson Street, N.W., Suite 400 West
Washington, D.C. 20007-5208

Approximate date of proposed public offering: Continuous

It is proposed that this filing will become effective (check appropriate box)

	immediately upon filing pursuant to paragraph (b) of Rule 485
	on (date), pursuant to paragraph (b) of Rule 485
	60 days after filing, pursuant to paragraph (a)(1) of Rule 485
x	on May 1, 2019, 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.

Title of Securities Being Registered: Flexible Premium Deferred Variable Annuity Contracts

SCHWAB ONESOURCE CHOICE VARIABLE ANNUITY^TM
An individual flexible premium variable annuity
Issued by

Great-West Life & Annuity Insurance Company of New York

Supplement dated May 1, 2019

to the Prospectus dated May 1, 2019

This Rate Sheet Supplement (the “Supplement”) amends certain information contained in the Schwab OneSource Choice Variable Annuity Prospectus dated May 1, 2019 (the “Prospectus”). Capitalized terms not defined in this Supplement have the same meaning as set forth in the Prospectus. This Supplement must be accompanied by, and read in conjunction with, the Prospectus. If you would like a copy of the current Prospectus, please contact the Retirement Resource Operations Center toll-free at (800) 838-0650. The Prospectus and this Supplement can also be found on the U.S. Securities and Exchange Commission’s website (www.sec.gov) by searching with File No. 333-194044.

This Supplement declares the Guaranteed Annual Withdrawal % (the “GAW%”) and Joint Guaranteed Annual Withdrawal % (the “Joint GAW%”) applicable to all GLWB Riders for Contracts the applications for which are signed during the effective dates detailed below.

Contract Applications Signed on or after May 1, 2019:

To receive the following GAW% or Joint GAW%, your Schwab OneSource Choice Variable Annuity application must be signed on or after May 1, 2019, your application must be received by us within 10 days of signing, and your initial Contribution must be received by us within 30 days of receipt of your application. If these terms are met, the following GAW% and Joint GAW% will apply to your Contract and cannot be changed. Rates reflected in Rate Sheet Supplements that were not in effect during this time period will not apply to your Contract. The terms of a Rate Sheet Supplement with no specified end date may not be amended unless we provide a minimum of 10 business days prior notice. If we file a new Rate Sheet Supplement, the terms of this Supplement (including the GAW%s and Joint GAW%s) will be superseded by the terms of the new Rate Sheet Supplement. The current and any proposed Rate Sheet Supplements may be found on the SEC’s website (www.sec.gov) by searching for File No. 333-194044.

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table:

GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 74	Age 75-79+	Age 80+
% of Benefit Base	4.00%	5.10%	5.50%	5.50%	6.50%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table:

Joint GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70-74	Age 75-79	Age 80+
% of Benefit Base	3.50%	4.60%	5.00%	5.00%	6.0%

If you have any questions regarding this Supplement, including questions about the date your application was signed or the rates applicable to you, please call the Retirement Resource Operations Center toll-free at (800) 838-0650, or write to the Retirement Resource Operations Center at PO Box 173920, Denver, CO 80217-3920.

This Supplement must be accompanied by, and read in conjunction with, the current Prospectus and
Statement of Additional Information dated May 1, 2019.

Please read this Supplement carefully and retain it for future reference.

SCHWAB ONESOURCE CHOICE VARIABLE ANNUITY^TM
An individual flexible premium variable annuity
Issued by

Great-West Life & Annuity Insurance Company of New York

Internet Availability of Portfolio Reports: Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the shareholder reports for the Portfolios available under your Contract will no longer be sent by mail, unless you specifically request paper copies of the reports from us. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from us electronically by contacting the Retirement Resource Operations Center at (800) 838-0650.

You may elect to receive all future reports in paper free of charge. You can inform us that you wish to continue receiving paper copies of your shareholder reports by contacting the Retirement Resource Operations Center at the toll-free number referenced immediately above. Your election to receive reports in paper will apply to all Portfolios available under your Contract.

Overview

This Prospectus describes the Schwab OneSource Choice Variable Annuity (the “Contract”), an individual flexible premium variable annuity contract that allows you to accumulate assets on a tax-deferred basis for retirement or other long-term purposes. Great-West Life & Annuity Insurance Company of New York (“we,” “us,” or “Great-West”) issues the Contract to eligible persons in the state of New York.

The Contract may be owned by one or two individuals. A Contract may also be owned by a Grantor Trust that exists for one individual Grantor or two individual Grantors who are each other’s spouse, or by a Non-Grantor Trust (See “Definitions” below for definitions of capitalized terms)..

When you contribute money to the Schwab OneSource Choice Variable Annuity, you decide how to allocate your money among the various investment options available through Variable Annuity-1 Series Account (the “Series Account”). The Series Account consists of two segments: the Investment Segment (relating to the base Contract) and the Income Segment (relating to an optional Guaranteed Lifetime Withdrawal Benefit Rider). We hold the assets for each investment option in a corresponding Sub-Account of the Series Account. Each Sub-Account, in turn, invests in a Portfolio under the Investment Segment or a Covered Fund under the Income Segment.

The date of this Prospectus is May 1, 2019.

The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this Prospectus. Any representation to the contrary is a criminal offense.

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Investment Segment Portfolios:

AB VPS Growth and Income Portfolio (Class A Shares)

AB VPS Large Cap Growth Portfolio (Class A Shares)

AB VPS Small/Mid Cap Value Portfolio (Class A Shares)

Alger Capital Appreciation Portfolio (Class I-2 Shares)

ALPS|Red Rocks Listed Private Equity Portfolio (Class I Shares)

American Century Investments^® VP Balanced Fund (Class I Shares)

American Century Investments^® VP Income & Growth Fund (Class I Shares)

American Century Investments^® VP International Fund (Class I Shares)

American Century Investments^® VP Mid Cap Value Fund (Class II Shares)

American Century Investments^® VP Value Fund (Class I Shares)

American Funds Insurance Series^® Growth-Income Fund (Class 4 Shares)

American Funds Insurance Series^® New World Fund^® (Class 2 Shares)

BlackRock Global Allocation V.I. Fund (Class I Shares)

BlackRock iShares^® Dynamic Allocation V.I. Fund (Class III Shares)

ClearBridge Variable Large Cap Growth Portfolio (Class I Shares)

ClearBridge Variable Mid Cap Portfolio (Class I Shares)

ClearBridge Variable Small Cap Growth Portfolio (Class I Shares)

Columbia Variable Portfolio - Large Cap Growth Fund (Class 2 Shares)

Columbia Variable Portfolio - Seligman Global Technology Fund (Class 2 Shares)

Columbia Variable Portfolio - Small Cap Value (Class 2 Shares)

Delaware VIP^® Emerging Markets Series (Standard Class Shares)

Delaware VIP^® International Value Equity Series (Standard Class Shares)

Delaware VIP^® Small Cap Value Series (Standard Class Shares)

Delaware VIP^® Smid Cap Core Series (Standard Class Shares)

Delaware VIP^® Value Series (Standard Class Shares)

Dreyfus Investment Portfolios MidCap Stock Portfolio (Initial Shares) (effective on or about June 3, 2019, this Portfolio will be renamed the BNY Mellon Investment Portfolios MidCap Stock Portfolio)

Dreyfus Variable Investment Fund Growth and Income Portfolio (Initial Shares) (effective on or about June 3, 2019, this Portfolio will be renamed the BNY Mellon Variable Investment Fund Growth and Income Portfolio)

DWS Capital Growth VIP (formerly Deutsche Capital Growth VIP) (Class A Shares)

DWS Core Equity VIP (formerly Deutsche Core Equity VIP) (Class A Shares)

DWS Global Small Cap VIP (formerly Deutsche Global Small Cap VIP) (Class A Shares)

DWS Small Cap Index VIP (formerly Deutsche Small Cap Index VIP) (Class A Shares)

DWS Small Mid Cap Growth VIP (formerly Deutsche Small Mid Cap Growth VIP) (Class A Shares)

Federated Fund for U.S. Government Securities II

Franklin Small Cap Value VIP Fund (Class 2 Shares)

Great-West Aggressive Profile Fund (Investor Class Shares)

Great-West Bond Index Fund (Investor Class Shares)

Great-West Conservative Profile Fund (Investor Class Shares)

Great-West International Index Fund (Investor Class Shares)

Great-West Invesco Small Cap Value Fund (Investor Class Shares)

Great-West Lifetime 2015 Fund (Investor Class Shares)

Great-West Lifetime 2020 Fund (Investor Class Shares)

Great-West Lifetime 2025 Fund (Investor Class Shares)

Great-West Lifetime 2030 Fund (Investor Class Shares)

Great-West Lifetime 2035 Fund (Investor Class Shares)

Great-West Lifetime 2040 Fund (Investor Class Shares)

Great-West Lifetime 2045 Fund (Investor Class Shares)

Great-West Lifetime 2050 Fund (Investor Class Shares)

Great-West Lifetime 2055 Fund (Investor Class Shares)

Great-West Mid Cap Value Fund (Investor Class Shares)

Great-West Moderate Profile Fund (Investor Class Shares)

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Great-West Moderately Aggressive Profile Fund (Investor Class Shares)

Great-West Moderately Conservative Profile Fund (Investor Class Shares)

Great-West Multi-Sector Bond Fund (formerly Great-West Loomis Sayles Bond Fund) (Investor Class Shares)

Great-West Real Estate Index Fund (Investor Class Shares)

Great-West T. Rowe Price Mid Cap Growth Fund (Investor Class Shares)

Invesco V.I. Comstock Fund (Series I Shares)

Invesco V.I. Growth and Income Fund (Series I Shares)

Invesco V.I. High Yield Fund (Series I Shares)

Invesco V.I. International Growth Fund (Series I Shares)

Invesco V.I. Small Cap Equity Fund (Series I Shares)*

Ivy VIP International Core Equity (Class II Shares)

Janus Henderson Balanced Portfolio (Service Shares)

Janus Henderson Flexible Bond Portfolio (Service Shares)

Janus Henderson Global Research Portfolio (Institutional Shares)

Janus Henderson Global Technology Portfolio (Service Shares)

JPMorgan Insurance Trust Small Cap Core Portfolio (Class 1 Shares)

Lazard Retirement Emerging Markets Equity Portfolio (Service Shares)

LVIP Baron Growth Opportunities Fund (Service Class Shares)

MFS^® VIT Utilities Series (Service Class Shares)

MFS^® VIT II International Growth Portfolio (Initial Class Shares)

MFS^® VIT II International Value Portfolio (Service Class Shares)

MFS^® VIT III Blended Research^® Small Cap Equity Portfolio (Initial Class Shares)

MFS^® VIT III Mid Cap Value Portfolio (Initial Class Shares)

Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio (Class S Shares)

NVIT Mid Cap Index Fund (Class II Shares)

Oppenheimer Global Fund/VA (Non-Service Shares)

Oppenheimer International Growth Fund/VA (Non-Service Shares)

Oppenheimer Main Street Small Cap Fund/VA^® (Non-Service Shares)

PIMCO VIT CommodityRealReturn^® Strategy Portfolio (Administrative Class Shares)

PIMCO VIT Emerging Markets Bond Portfolio (Administrative Class Shares)

PIMCO VIT High Yield Portfolio (Administrative Class Shares)

PIMCO VIT Low Duration Portfolio (Administrative Class Shares)

PIMCO VIT Real Return Portfolio (Administrative Class Shares)

PIMCO VIT Total Return Portfolio (Administrative Class Shares)

Pioneer Bond VCT Portfolio (Class I Shares)

Pioneer Fund VCT Portfolio (Class I Shares)

Pioneer Select Mid Cap Growth VCT Portfolio (Class I Shares)

Putnam VT Equity Income Fund (Class IB Shares)

Putnam VT Global Asset Allocation Fund (Class IA Shares)

Putnam VT Income Fund (Class IA Shares)

Putnam VT International Equity Fund (Class IA Shares)

Putnam VT International Value Fund (Class IA Shares)

Putnam VT Mortgage Securities Fund (Class IB Shares)

Putnam VT Multi-Cap Core Fund (formerly Putnam VT Investors Fund) (Class IA Shares)

Putnam VT Small Cap Value Fund (Class IA Shares)

Schwab Government Money Market Portfolio^TM

Schwab^® S&P 500 Index Portfolio

T. Rowe Price Health Sciences Portfolio (Portfolio-II Class Shares)

Templeton Foreign VIP Fund (Class 2 Shares)*

Templeton Global Bond VIP Fund (Class 2 Shares)

Touchstone Bond Fund*

Touchstone Common Stock Fund*

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Touchstone Focused Fund* (effective on or about July 12, 2019, this Fund will merge into the Touchstone Common Stock Fund)

Touchstone Small Company Fund

VanEck VIP Global Hard Assets Fund (S Class Shares)

Wells Fargo VT Discovery Fund (Class 2 Shares)

Wells Fargo VT Omega Growth Fund (Class 2 Shares)

Income Segment Covered Funds (for Contracts with the Guaranteed Lifetime Withdrawal Benefit Rider):

Great-West Conservative Profile Fund (Investor Class Shares)

Great-West Moderate Profile Fund (Investor Class Shares)

Great-West Moderately Conservative Profile Fund (Investor Class Shares)

Great-West SecureFoundation^® Balanced Fund (Investor Class Shares)

The Contract currently offers four Covered Funds. Great-West may make additional or fewer Covered Funds available to Contract Owners in the future.

* The Sub-Account investing in this Portfolio is closed to new Contributions and incoming Transfers (including Automatic Custom Transfers).

This Prospectus provides important information about the Series Account and investment options that you should know before purchasing the Schwab OneSource Choice Variable Annuity, including a description of the material rights and obligations under the Contract. It is important that you read the Contract, riders, and any amendments and endorsements. Please read this Prospectus carefully and keep it on file for future reference. We offer other variable annuity products with different product features, benefits and charges.

If you acquired your Contract before May 1, 2019, certain features described in this Prospectus may not be available under your existing Contract. If you are interested in a feature that is not available, please contact the Retirement Resource Operations Center at the toll free number below for more information.

You can find more detailed information pertaining to the Series Account in the Statement of Additional Information (“SAI”) dated May 1, 2019 (as may be amended from time to time), which has been filed with the Securities and Exchange Commission (the “SEC”) and is available upon written or oral request. The SAI is incorporated by reference into this Prospectus as a matter of law, which means it is legally a part of this Prospectus. You can find the SAI’s table of contents on the last page of this Prospectus. You may obtain a copy of the SAI without charge by contacting the Retirement Resource Operations Center at the address or phone number listed below. Or, you can obtain it by visiting the SEC’s website at www.sec.gov. This website also contains material incorporated by reference and other information about the Series Account that has been filed electronically with the SEC.

The Contract is not a deposit or obligation of, or insured, guaranteed or endorsed by, any bank, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. The Contract involves certain investment risks, including possible loss of principal.

For account information, please contact:

Retirement Resource Operations Center
P.O. Box 173920
Denver, CO 80217-3920
(800) 838-0650

This Prospectus does not constitute an offering in any jurisdiction in which such offering may not be lawfully made. No dealer, salesperson or other person is authorized to give any information or make any representations in connection with the Contract other than those contained in this Prospectus, and, if given or made, such other information or representations must not be relied on.

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TABLE OF CONTENTS

Definitions	1
Fee Tables	7
Examples	8
Condensed Financial Information	9
Summary	9
Great-West Life & Annuity Insurance Company of New York	11
The Series Account	11
The Portfolios	12
Meeting Investment Objectives	19
Where to Find More Information About the Portfolios	19
Addition, Deletion or Substitution of Sub-Accounts	19
Application and Initial Contributions	19
Right of Cancellation Period	20
Subsequent Contributions	20
Annuity Account Value	20
Transfers	21
Market Timing and Excessive Trading	22
Automatic Custom Transfers	23
Cash Withdrawals	25
Tax Consequences of Withdrawals	26
Telephone and Internet Transactions	26
Death Benefit	27
Beneficiary	28
Restricted Beneficiary Payout Options	29
Distribution of Death Benefit (for all Contracts other than Non-Qualified Stretch Annuities)	29
Distribution of Death Benefit for Non-Qualified Stretch Annuities	31
Ownership and Assignment	32
Grantor Trust Owned Annuity	32
Non-Grantor Trust Owned Annuity	32
Non-Qualified Stretch Annuities	33
Joint Annuitants	33
Charges and Deductions	33
Mortality and Expense Risk Charge	34
Expenses of the Portfolios	34
Other Taxes	34
Payout Options	35
Periodic Withdrawals	35
Annuity Payouts From the Investment Segment	36
Guaranteed Lifetime Withdrawal Benefit	37
Types of Excess Withdrawals	41
Seek Tax Advice	50
Distribution of the Contracts	56
Voting Rights	56
Rights Reserved by Great-West	57
Legal Proceedings	57
Legal Matters	57
Independent Registered Public Accounting Firm	58
Available Information	58
Appendix A – Condensed Financial Information	A-1

Appendix B - Net Investment Factor	B-1
Appendix C - Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements	C-1

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Definitions

1035 Exchange – A tax-free exchange of certain types of insurance contracts, as allowed by a provision of the Code.

Accumulation Period – The time period between the Effective Date and the earlier of the Payout Election Date or the Annuity Commencement Date. During this period, you are contributing to the annuity.

Accumulation Unit – An accounting measure used to determine the Annuity Account Value before the date annuity payouts commence.

Alternate Payee – Any Spouse or former Spouse of an Owner who has the right pursuant to a Decree to receive all or a portion of the benefit payable under the Contract with respect to such Owner.

Annuitant (Joint Annuitant) – The person named in the application upon whose life the payout of an annuity is based and who will receive annuity payouts. The Annuitant will be the Owner unless otherwise indicated in the application. If you select a Joint Annuitant, “Annuitant” means the older Joint Annuitant or the sole surviving Joint Annuitant, unless otherwise stated. Joint Annuitants must be one another’s Spouse as of the Effective Date. If you name a Contingent Annuitant, the Annuitant will be considered the “Primary Annuitant.” If a Grantor Trust owns the Contract, the Grantor will be the Annuitant unless otherwise indicated in the application. If a Non-Grantor Trust owns the Contract, the grantor will be the Annuitant unless otherwise indicated in the application. If a Non-Grantor Trust owns the Contract, no Contingent Annuitant may be named and the Annuitant will be considered the Primary Annuitant.

Annuity Account – An account we establish in your name that reflects the Owner’s interests in the Sub-Accounts in both the Investment Segment and the Income Segment.

Schwab OneSource Choice Variable Annuity Structure

Your Total Annuity Account can be made up of both the Investment Segment and the Income Segment

1

Annuity Account Value – The sum of the value of each Sub-Account you have selected in both the Investment Segment and Income Segment. The Annuity Account Value is credited with a return based upon the investment experience of the Sub-Account(s) selected by you and will increase and decrease accordingly.

Annuity Commencement Date – The date annuity payouts begin, which is either the Payout Election Date or the Annuitant’s 99th birthday if no Payout Election Date has been established. You may change the Annuity Commencement Date if annuity payouts have not already begun. Upon death of the Owner, the Beneficiary may change the Annuity Commencement Date only if the Beneficiary is the Owner’s surviving Spouse and elects to continue the Contract. The Annuity Commencement Date must occur prior to or on the Annuitant’s 99th birthday.

Annuity Payout Period – The period beginning on the Annuity Commencement Date and continuing until all annuity payouts have been made under the Contract. During this period, the Annuitant receives payouts from the annuity.

Annuity Unit – An accounting measure we use to determine the amount of any variable annuity payout after the first annuity payout is made.

Attained Age – During the Guaranteed Annual Withdrawal Phase, the age of the Covered Person (or the age of the younger Joint Covered Person) on the Ratchet Date.

Automatic Bank Draft Plan – A feature, if made available by Great-West, that allows you to make automatic periodic Contributions. Contributions will be withdrawn from an account you specify and automatically credited to your Annuity Account.

Beneficiary – The person(s) designated by the Owner to receive any Death Benefit under the terms of the Contract. If the surviving Spouse of an Owner is the surviving Joint Owner, the surviving Spouse will be deemed to be the Beneficiary upon such Owner’s death and may take the death benefit or elect to continue this Contract in force.

Benefit Base – For purposes of the GLWB Rider, the amount that is multiplied by the Guaranteed Annual Withdrawal Percentage to calculate the Guaranteed Annual Withdrawal. The Benefit Base increases dollar-for-dollar upon any GLWB Rider Contribution and is reduced proportionately for any Excess Withdrawal. The Benefit Base can also increase with positive Covered Fund performance on the Ratchet Date and may also be adjusted on the Ratchet Date. The Benefit Base may not exceed $5 million. Any Covered Fund Value over $5 million will be considered excess Covered Fund Value and will not be used to calculate Guaranteed Annual Withdrawals.

Business Day – Any day, and during the hours, on which the New York Stock Exchange is open for trading. If a date falls on a non-Business Day, the following Business Day will be used unless otherwise stated in the Prospectus.

Code – The Internal Revenue Code of 1986, as amended, and all related laws and regulations which are currently in effect.

Contingent Annuitant – The person you may name in the application who becomes the Annuitant when the Primary Annuitant dies. The Contingent Annuitant must be designated before the death of the Primary Annuitant and before annuity payouts have begun. If a Non-Grantor Trust owns the Contract, no Contingent Annuitant may be named.

Contingent Beneficiary – The person you may designate to become the Beneficiary when the primary Beneficiary dies.

Contributions – Amounts of money you invest or deposit into your Annuity Account.

Covered Funds – Interests in Sub-Account(s) designated for the Income Segment.

• Great-West Conservative Profile Fund – Investor Class Shares

• Great-West Moderate Profile Fund – Investor Class Shares

• Great-West Moderately-Conservative Profile Fund – Investor Class Shares

• Great-West SecureFoundation^® Balanced Fund – Investor Class Shares

• Any other Portfolio we approve for the GLWB

Covered Fund Value – The aggregate value of each Covered Fund.

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Covered Person(s) – For purposes of the GLWB Rider, the person(s) whose age determines the Guaranteed Annual Withdrawal Percentage and on whose life the Guaranteed Annual Withdrawal Amount will be based. If there are two Covered Persons, the Guaranteed Annual Withdrawal Percentage will be based on the age of the younger life and the Installments can continue until the death of the second life. If a natural person owns the Contract, the Owner of the Contract must be a Covered Person. If a Grantor Trust owns the Contract, the Grantor(s) must be the sole Covered Person(s). A Joint Covered Person must be the Owner’s Spouse and (i) a Joint Owner; or (ii) the 100% primary Beneficiary under the Contract. If a Non-Grantor Trust owns the Contract, the Covered Person, if any, must be the Annuitant.

Death Benefit – The amount payable to the Beneficiary when the Owner or the Annuitant dies, as applicable.

Decree – A divorce or separation instrument, as defined in Section 71(b)(2) of the Code, that creates or recognizes the existence of an Alternate Payee’s right to, or assigns to an Alternate Payee the right to receive all or a portion of the benefits payable with respect to an Owner that Great-West accepts and approves, except as otherwise agreed.

Distributions – Amounts paid from a Covered Fund, including but not limited to partial and systematic withdrawals.

Effective Date – The date on which the first Contribution is credited to your Annuity Account.

Excess Withdrawal – An amount either distributed or transferred from the Covered Funds during the GLWB Accumulation Phase or any amount combined with all other amounts that exceed the annual GAW during the GAW Phase that reduces your Benefit Base. The Guarantee Benefit Fee and the M&E Charge shall not be treated as a Distribution or Excess Withdrawal for this purpose.

GAW Payment Date – The GAW Payment Date is the day of the month on which Installments are paid.

Guarantee Benefit Fee – The fee associated with the Income Segment and GLWB Rider. The Guarantee Benefit Fee also is sometimes referred to as the GLWB Rider Fee. For Contract applications signed before May 1, 2017, the Guarantee Benefit Fee is based on a percentage of Covered Fund Value. For Contract applications signed on or after May 1, 2017, the Guarantee Benefit Fee is based on a percentage of the Benefit Base.

Guaranteed Annual Withdrawal (GAW) – For purposes of the GLWB Rider, the annualized withdrawal amount that we guarantee for the lifetime of the Covered Person(s).

Guaranteed Annual Withdrawal Percentage (GAW%) – The percentage of the Benefit Base that determines the amount of the GAW. The GAW% applicable to new Contract purchases is disclosed in a Rate Sheet Supplement to this Prospectus applicable on the date you signed the application to purchase the Contract. For the GAW% applicable to applications signed before May 1, 2019, please see the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus.

Guaranteed Annual Withdrawal (GAW) Phase – The period of time between the Initial Installment Date and the first day of the GLWB Settlement Phase. The GAW Phase begins when you elect to begin taking GAW payments.

Guaranteed Lifetime Withdrawal Benefit (GLWB) – A payment option offered by the GLWB Rider that pays Installments during the life of the Covered Person(s). The Covered Person(s) will receive periodic payments in either monthly, quarterly, semiannual, or annual Installments that in total over a 12-month period equal the GAW, without causing an Excess Withdrawal.

GLWB Accumulation Phase – The period of time between the GLWB Rider Election Date and the Initial Installment Date.

GLWB Rider – The Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider issued to the Owner which specifies the benefits, rights, privileges, and obligations of the Owner and Great-West in the Income Segment, as modified by the Rate Sheet Supplement applicable on the date you signed the application to purchase the Contract. The GLWB Rider is initiated by allocating Contributions to the Income Segment Covered Funds. All guarantees are subject to the claims paying ability of Great-West. The GAW% and Joint GAW% applicable to new Contract purchases are disclosed in a Rate Sheet Supplement to this Prospectus applicable on the date you signed the application to purchase the Contract. For the GAW% and Joint GAW% applicable to applications signed before May 1, 2019 please see the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus.

3

GLWB Rider Contributions – Owner-directed amounts received and allocated to the Owner’s Covered Funds in the Income Segment, including but not limited to Transfers from other assets in the Contract. If this Contract is a Qualified Annuity Contract, GLWB Rider Contributions may also include rollovers as defined under Section 402(c), 403(b)(8), 408(d)(3) and 457(e)(16) of the Code. Reinvested dividends, capital gains, and settlements arising from the Covered Funds will not be considered GLWB Rider Contributions for the purpose of calculating the Benefit Base but will affect the Covered Fund Value. We reserve the right to stop accepting GLWB Rider Contributions at any time and will provide the Owner with a 30 day notice.

GLWB Rider Election Date – The Business Day on which the Owner or Spouse Beneficiary elects the GLWB option in the GLWB Rider by allocating GLWB Rider Contributions to the Covered Fund(s). The GLWB Rider Election Date shall be the date upon which the Initial Benefit Base is calculated and before the Owner attains the age of 86 years old.

GLWB Settlement Phase – The period when the Covered Fund Value has reduced to zero, but the Benefit Base is still positive during which Installments will continue to be paid.

Grantor – The natural person who is treated under Sections 671 through 679 of the Code as owning the assets of a Grantor Trust. All Grantors must be individuals.

Grantor Trust – A permissible Contract ownership type that may be selected at Contract issue or later. A trust, the assets of which are treated under Sections 671 through 679 of the Code as being owned by the Grantor(s). We allow a Grantor Trust to be an Owner only if it either has a single Grantor who is a natural person, or has two Grantors who are one another’s Spouse as of the Effective Date.

Income Segment – Assets allocated to the Sub-Account(s) associated with the optional GLWB Rider attached to the Contract.

Income Segment Account Value – The sum of the values of the Sub-Accounts in the Income Segment credited to the Owner under the Annuity Account. The Income Segment Account Value is credited with a return based upon the investment experience of such Income Segment investment option(s) selected by the Owner and will increase or decrease accordingly.

Initial Calculation – The calculation used to determine the GAW% based on the age of the Covered Person(s) on the Initial Installment Date and dependent on the age(s) of the joint or single Covered Person(s).

Initial Installment Date – The date of the first Installment under the GLWB, which must be a Business Day.

Installments – Periodic payments of the GAW that in total over a year can equal up to the GAW without causing an Excess Withdrawal.

Investment Segment – Assets allocated to the Sub-Accounts not associated with the optional GLWB Rider attached to the Contract.

Investment Segment Account Value – The sum of the values of the Sub-Accounts in the Investment Segment credited to the Owner under the Annuity Account. The Investment Segment Account Value is credited with a return based upon the investment experience of such Investment Segment investment option(s) selected by the Owner and will increase or decrease accordingly.

Joint GAW% – The GAW% used with the GLWB Rider if there are two Covered Persons. The Joint GAW% applicable to new Contract purchases is disclosed in a Rate Sheet Supplement to this Prospectus applicable on the date you signed the application to purchase your Contract. For the GAW% and Joint GAW% applicable to applications signed before May 1, 2019, please see the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus.

Mortality and Expense Risk Charge (M&E Charge) – An amount deducted from your Annuity Account Value at the end of each valuation period to compensate Great-West for bearing certain mortality and expense risks under the Contract.

Non-Grantor Trust – A permissible Contract ownership type that may be selected at Contract issue or later. A trust in which the grantor has relinquished control over trust assets and in which trust assets do not form a part of the grantor’s estate. A Non-Grantor Trust must be issued a Tax Identification Number in order to qualify as Owner of the Contract. If a Non-Grantor Trust owns the Contract, the grantor will be the Annuitant unless otherwise indicated in the application, and the Owner (the Non-Grantor Trust) will at all times be the Beneficiary.

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Non-Qualified Annuity Contract – An annuity Contract which is not intended to satisfy the requirements of Sections 408(b) (IRAs) or 408A (Roth IRAs) of the Code. We may issue this Contract as a Non-Qualified Annuity Contract.

Non-Qualified Stretch Annuity Contract – A permissible Contract ownership type that may be elected by a natural person Beneficiary only upon the death of the original Owner. This type of annuity Contract is not intended to satisfy the requirements of Section 408(b) (IRAs) or Section 408A (Roth IRAs) of the Code. The “Beneficial Owner” for a Contract held as a Non-Qualified Stretch Annuity is the natural person who is the designated Beneficiary of any Death Benefit proceeds as a result of the death of the original Contract Owner, and may not be a non-natural entity such as a Grantor Trust or Non-Grantor Trust. A “Successor Beneficiary”(defined below) may elect to receive his or her interest in a single sum or over the remaining distribution period initially selected by the Beneficial Owner, and cannot be a non-natural entity.

Owner (Joint Owner) or You – The person(s) named in the application who is entitled to exercise all rights and privileges under the Contract, while the Annuitant is living. Joint Owners must be one another’s Spouse as of the Effective Date and must both be natural persons. The Annuitant will be the Owner unless otherwise indicated in the application. If the Contract is intended to be held as a Qualified Annuity Contract, the Owner must be the Annuitant and a Joint Owner is not permitted. The Owner must be either a natural person, a Grantor Trust, or a Non-Grantor Trust. If the Owner is a Grantor Trust, all references to the life, age or death of the Owner shall pertain to the life, age or death of the Grantor(s). If the Owner is a Non-Grantor Trust, all references to the life, age, or death of the Owner pertain to the life, age, or death of the Annuitant, and where there are Joint Annuitants, shall pertain to the older Joint Annuitant. If there is a change of ownership of the Contract from a Non-Grantor Trust to a natural person, the original Annuitant and/or Joint Annuitant shall continue to determine any benefits under the Contract and GLWB Riders.

Payout Election Date – The date on which annuity payouts or periodic withdrawals begin from the Investment Segment. The Payout Election Date must occur before the Annuitant’s 99th birthday.

Portfolio – A registered management investment company, or portfolio or series thereof, in which the assets of the Series Account may be invested.

Premium Tax – A tax that a state or other governmental authority may assess at the time you make a Contribution, make withdrawals, or when annuity payments begin. The Premium Tax rate in New York for annuities is 0%, given the total mix of Great-West’s business in New York.

Qualified Annuity Contract – An annuity contract that is intended to qualify under Sections 408(b) (IRAs) or 408A (Roth IRAs) of the Code. We may issue this Contract as a Qualified Annuity Contract, in which case, under the Code, assignment of the Contract and GLWB Rider is not permitted.

Ratchet – For purposes of the GLWB Rider, an increase in the Benefit Base if the Covered Fund Value exceeds the current Benefit Base on the Ratchet Date.

Ratchet Date – During the GLWB Accumulation Phase, the Ratchet Date is the first anniversary of the Owner’s GLWB Rider Election Date and each anniversary thereafter. During the GAW Phase, the Ratchet Date is the Initial Installment Date and each anniversary thereafter. A Reset may also occur on the Ratchet Date during the GAW Phase. For Contract applications signed before May 1, 2017, if the anniversary is a non-Business Day, the Ratchet Date shall be the preceding Business Day for that year. For Contract applications signed on or after May 1, 2017, if the anniversary is a non-Business Day, the Ratchet Date shall be the following Business Day for the year.

Rate Sheet Supplement – Supplements to the Prospectus which we periodically file with the SEC that detail and modify certain rates associated with the GLWB Rider for new Contract purchases. Rate Sheet Supplements will disclose the GAW%s and the Joint GAW%s for all GLWB Riders applicable for a specified range of dates. The terms of a Rate Sheet Supplement (including GAW%s, Joint GAW%s) with no specified end date may not be amended unless we provide a minimum of 10 business days prior notice. Historical GAW%s and Joint GAW%s reflected in Rate Sheet Supplements may be found in the Appendix entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements” at the end of this Prospectus, as well as on the SEC’s website (www.sec.gov) by searching with File Number 333-194044. For the GAW% and Joint GAW% applicable to applications signed on or after May 1, 2019, please refer to the Rate Sheet Supplement attached to your prospectus at the time you signed the application to purchase your Contract.

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Request – Any written, telephoned, electronic or computerized instruction in a form satisfactory to Great-West that the Retirement Resource Operations Center receives from you, your designee (as specified in a form acceptable to Great-West) or the Beneficiary (as applicable) as required by any provision of the Contract. The Request is subject to any action taken or payment made by Great-West before it is processed. A written Request shall be deemed to include electronic mail transmissions only if such transmissions include PDF or other facsimile transmissions clearly reproducing manual signatures.

Reset – A change made to the Benefit Base and GAW% if the Covered Fund Value multiplied by the Attained Age GAW% is higher than the current Benefit Base multiplied by the current GAW% on the Ratchet Date. Installments will not change unless you provide a Request.

Restricted Beneficiary Payout Option – a Beneficiary payout option that may be selected at Contract issue or later, available by endorsement to this Contract and providing that an Owner can pre-select the amount and form of payout option for any given Beneficiary.

Retirement Resource Operations Center – You may write to us at our administrative office at P.O. Box 173920, Denver, CO 80217-3920; call us toll free at (800) 838-0650; or email us at AnnuityOperations@greatwest.com.

Series Account – Variable Annuity-1 Series Account, the segregated asset account established by Great-West under New York law and registered as a unit investment trust under the Investment Company Act of 1940, as amended (the “1940 Act”).

Spouse – A person recognized as a spouse in the state where the couple was legally married. The term does not include a party to a registered domestic partnership, civil union, or similar formal relationship recognized under state law that is not denominated a marriage under that state’s law.

Sub-Account – A division of the Series Account containing the shares of a Portfolio in the Investment Segment, the Income Segment, or both. There is a Sub-Account for each Portfolio. We may also refer to a Sub-Account as an “investment option” in the Prospectus, SAI, or Series Account financial statements, or a “subaccount” in marketing materials.

Successor Beneficiary – Upon the death of the Beneficial Owner, the natural person who is entitled to receive the Beneficial Owner’s remaining interest in a Contract held as a Non-Qualified Stretch Annuity. A Successor Beneficiary may elect to receive his or her interest in a single sum or over the remaining distribution period initially selected by the Beneficial Owner. A non-natural entity, such as a Grantor Trust or Non-Grantor Trust, is not permitted as a Successor Beneficiary of a Contract held as a Non-Qualified Stretch Annuity.

Surrender Value – Your Annuity Account Value on the Transaction Date of the surrender, less Premium Tax, if any.

Transaction Date – The date on which any Contribution or Request from you will be processed. Contributions and Requests received after the close of regular trading on the New York Stock Exchange (generally 4:00 p.m. ET) will be deemed to have been received on the next Business Day. Requests will be processed and the Annuity Account Value will be determined on each day that the New York Stock Exchange is open for trading.

Transfer – Moving amounts from and among the Sub-Account(s).

Valuation Date – The date on which the net asset value of each Portfolio is determined, which is the end of each day that the New York Stock Exchange is open for regular business.

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Fee Tables

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Contract. The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, or transfer cash value between investment options. State Premium Taxes may also be deducted.

Owner Transaction Expenses

Sales Load Imposed on Purchases	None
Deferred Sales Load	None
Surrender Fees	None
Maximum Transfer Charge	$25*

* Currently, there is no charge for Transfers. We reserve the right, however, to impose a transfer charge after we notify you. See “Transfers” below.

The next table describes the fees and expenses that you will pay periodically during the time that you own the Contract, not including Portfolio fees and expenses.

Annual Contract Fee None

Series Account Annual Expenses (as a percentage of average Annuity Account Value)

Mortality and Expense Risk Charges (based on Death Benefit Option selected)
Option 1: Return of Annuity Account Value	0.65%
Option 2: Guaranteed Minimum Death Benefit	0.85%
Maximum Total Series Account Annual Expenses(with the most expensive death benefit option and no optional GLWB Rider selected) as a percentage of average Annuity Account Value	0.85%

Optional GLWB Rider Fees Optional Guaranteed Lifetime Withdrawal Benefit Rider (with charges assessed quarterly)
Guarantee Benefit Fee (maximum) based on Covered Fund Value (for Contract applications signed before May 1, 2017) and on current Benefit Base (for Contract applications signed on or after May 1, 2017)	1.50%
Guarantee Benefit Fee (current) as a percentage of the current Covered Fund Value (for Contract applications signed before May 1, 2017)	1.00%
Guarantee Benefit Fee (current) as a percentage of the current Benefit Base (for Contract applications signed on or after May 1, 2017)	0.90%

The next item shows the minimum and maximum total operating expenses charged by the Portfolios, before any waivers or reimbursements, that you may pay periodically during the time that you own the Contract. More detail concerning each Portfolio’s fees and expenses is contained in the prospectus for each Portfolio.

Total Annual Portfolio Operating Expenses	Minimum	Maximum
(Expenses that are deducted from Portfolio assets, including management fees, distribution and/or service (12b-1) fees, and other expenses)1	0.03%	2.21%

THE ABOVE EXPENSES FOR THE PORTFOLIOS WERE PROVIDED BY THE PORTFOLIOS. WE HAVE NOT INDEPENDENTLY VERIFIED THE ACCURACY OF THE INFORMATION FOR THE PORTFOLIOS THAT ARE UNAFFILIATED WITH GREAT-WEST.

¹ The Covered Funds are “funds of funds” that invest substantially all of their assets in shares of other series of Great-West Funds, Inc. (the “Underlying Portfolios”). Because of this, each Covered Fund also bears its pro rata share of the operating expenses of the Underlying Portfolios. The above minimum and maximum expenses include fees and expenses incurred indirectly by the Covered Funds as a result of their investment in shares of one or more Underlying Portfolios.

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Examples

These Examples are intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include Owner transaction expenses, contract fees, Series Account annual expenses, and Portfolio fees and expenses. The maximum fees used for these Examples have not changed since inception.

Income Segment Example– Maximum Guarantee Benefit Fee. The Example below assumes that you invest $10,000 in the Income Segment of the Contract (and nothing in the Investment Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge, maximum Guarantee Benefit Fee and the maximum fees and expenses of any of the Portfolios in the Income Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period:

1 year	3 years	5 years	10 years
$333.00	$1,067.00	$1,899.00	$4,488.00

Investment Segment Example. The Example below assumes that you invest $10,000 in the Investment Segment of the Contract (and nothing in the Income Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge and the maximum fees and expenses of any of the Portfolios in the Investment Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period:

1 year	3 years	5 years	10 years
$306.00	$983.00	$1,754.00	$4,171.00

Income Segment Example– Current Guarantee Benefit Fee (for Contract applications signed prior to May 1, 2017). The Example below assumes that you invest $10,000 in the Income Segment of the Contract (and nothing in the Investment Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge, current Guarantee Benefit Fee of 1.00% of Covered Fund Value, and the maximum fees and expenses of any of the Portfolios in the Income Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period:

1 year	3 years	5 years	10 years
$283.00	$911.00	$1,630.00	$3,894.00

Income Segment Example– Current Guarantee Benefit Fee (for Contract applications signed on or after May 1, 2017). The Example below assumes that you invest $10,000 in the Income Segment of the Contract (and nothing in the Investment Segment) for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the maximum Mortality and Expense Risk Charge, current Guarantee Benefit Fee of 0.90% of Benefit Base, and the maximum fees and expenses of any of the Portfolios in the Income Segment. In addition, this Example assumes no Transfers were made and no Premium Taxes were deducted. If these arrangements were considered, the expenses shown would be higher. This Example also does not take into consideration any fee waiver or expense reimbursement arrangements of the Portfolios.

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Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you retain your Contract, surrender your Contract, or annuitize your Contract at the end of the applicable time period:

1 year	3 years	5 years	10 years
$273.00	$880.00	$1,575.00	$3,772.00

These Examples do not show the effect of Premium Taxes. Premium Taxes, if any, are deducted from Contract Value upon full surrender, death, or annuitization. These Examples also do not include any of the taxes or penalties you may be required to pay if you surrender your Contract.

The fee tables and example should not be considered a representation of past or future expenses and charges of the Sub-Accounts. Your actual expenses may be greater or less than those shown. Similarly, the 5% annual rate of return assumed in the example is not an estimate or a guarantee of future investment performance. See “Charges and Deductions” below.

Condensed Financial Information

Attached as Appendix A is a table showing selected information concerning Accumulation Units for each Sub-Account. An Accumulation Unit is the unit of measure that we use to calculate the value of your interest in a Sub-Account. The Accumulation Unit values reflect the deduction of the Mortality and Expense Risk Charge, but not the Guarantee Benefit Fee, if applicable, which is deducted from Covered Fund Value. The information in the table is derived from audited financial statements of the Series Account. To obtain a more complete picture of each Sub-Account’s finances and performance, you should also review the Series Account’s financial statements, which are in the Statement of Additional Information.

Summary

The Schwab OneSource Choice Variable Annuity allows you to accumulate assets on a tax-deferred basis by investing in a variety of variable investment options (the Sub-Accounts). The performance of your Annuity Account Value will vary with the investment performance of the Portfolios corresponding to the Sub-Accounts you select. You bear the entire investment risk for all amounts invested in them. Depending on the performance of the Sub-Accounts you select, your Annuity Account Value could be less than the total amount of your Contributions.

When you purchase the Contract, you have the option of allocating Contributions to the Sub-Accounts available in the Investment Segment (relating to the base Contract), to the Covered Funds in the Income Segment (relating to the GLWB Rider), or both. If you exercise the Income Segment option, the GLWB Rider will provide you with a guaranteed lifetime withdrawal benefit, provided all conditions, described below, are met.

How to contact the Retirement Resource Operations Center:

Retirement Resource Operations Center
P.O. Box 173920
Denver, CO 80217-3920
(800) 838-0650

How to Invest

We refer to amounts you invest in the Contract as “Contributions.” The minimum initial Contribution is $5,000. Additional Contributions to the Investment Segment can be made at any time before you begin receiving annuity payments.

The minimum subsequent Contribution is $500 (or $100 if investing via an Automatic Bank Draft Plan, if available). However, total Contributions may not exceed $1,000,000 without prior approval from Great-West. We reserve the right to lower the minimum Contribution or accept larger maximum total Contributions. We also reserve the right to cease accepting Contributions at any time for any reason.

You may also purchase the Schwab OneSource Choice Variable Annuity through a 1035 Exchange of another insurance contract through a rollover from certain qualified plans or IRAs , or as a beneficiary of an Inherited IRA.

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Sales and Surrender Charges. There are no sales, redemption, surrender, or withdrawal charges under the Schwab OneSource Choice Variable Annuity.

Right of Cancellation Period

After you receive your Contract, you may examine it for 10 days during which time you may cancel your Contract as described in more detail in this Prospectus. The money you contribute to the Contract will be invested at your direction. If you purchase the Contract as a replacement of an existing life insurance or annuity contract, your right of cancellation period will be extended to 60 days from the date of receiving it.

Guaranteed Lifetime Withdrawal Benefit Rider Option

For applications signed before May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Covered Fund Value. For applications signed on or after May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Benefit Base.

Provided all conditions are met, the GLWB Rider provides an annual withdrawal amount that is guaranteed for the lifetime of the Covered Person(s) according to a fixed schedule that varies the GAW% with the age of the Covered Person(s).

The GAW% and Joint GAW% applicable to you are disclosed in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract (and satisfied other terms described in this paragraph). In order to receive the disclosed GAW% or Joint GAW%, your application must be signed after the date stated in the Rate Sheet Supplement, your application must be received by us within 10 days of signing, and your initial Contribution must be received by us within 30 days of receipt of your application. If these terms are met, the disclosed rates will apply to your Contract and cannot be changed. Terms reflected in Rate Sheet Supplements that were not in effect at such time will not apply to your Contract. The terms of a Rate Sheet Supplement (including the GAW%s and Joint GAW%s) with no specified end date may not be amended unless we provide a minimum of 10 business days prior notice.

The current and any proposed Rate Sheet Supplements may be found on the SEC’s website (www.sec.gov) by searching with File Number 333-194044. You may contact us at the Retirement Resource Operations Center for a Rate Sheet Supplement applicable to your Contract. As available, historical GAW%s and Joint GAW%s reflected in Rate Sheet Supplements may be found in the Appendix to this Prospectus entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements”, as well as on the SEC’s website (www.sec.gov) by searching with File Number 333-194044. For the GAW% and Joint GAW% applicable to applications signed on or after May 1, 2019, please refer to the Rate Sheet Supplement attached to the Prospectus when you signed the application to purchase your Contract.

All guarantees are subject to Great-West’s financial strength and claims paying ability.

Payout Options

The Schwab OneSource Choice Variable Annuity offers three payout options: (1) periodic withdrawals; (2) variable annuity payouts; or (3) a single, lump-sum payment.

Prior to the Annuity Commencement Date, you can withdraw all or a part of your Annuity Account Value. There are no surrender or withdrawal charges. Certain withdrawals will normally be subject to federal income tax and may also be subject to a federal penalty tax. You may also pay a Premium Tax upon a withdrawal.

Death Benefit

If the Owner dies before the Annuity Commencement Date, we will pay the Death Benefit to your Beneficiary. If the Owner dies before the entire value of the Contract is distributed, we will distribute the remaining value according to the rules outlined in the “Death Benefit” section below.

The amount distributed to your Beneficiary will depend on the Death Benefit option you select. We offer two Death Benefit options. For Option 1, the Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 the time the Contract is issued. Option 1 provides for the payment of your Annuity Account Value minus any Premium Tax. For Option 2, the Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 at the time the Contract is issued. Option 2 provides for the payment of the greater of

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(1) your Annuity Account Value, minus any Premium Tax or (2) the sum of all Contributions, minus any the impact of partial withdrawals, distributions, and Premium Tax, if any. If you select Death Benefit Option 1, your Mortality and Expense Risk Charge will be 0.65%. If you choose Death Benefit Option 2, this charge will be 0.85%.

This summary highlights some of the more significant aspects of the Schwab OneSource Choice Variable Annuity. You’ll find more detailed information about these topics throughout the Prospectus and in your Contract. Please keep them both for future reference.

Great-West Life & Annuity Insurance Company of New York

Great-West (formerly known as First Great-West Life & Annuity Insurance Company, and prior to that as Canada Life Insurance Company of New York (“CLNY”)) is a stock life insurance company incorporated under the laws of the State of New York on June 7, 1971. We operate in two business segments: (1) employee benefits (life, health, and 401(k) products for group clients); and (2) financial services (savings products for both public and non-profit employers and individuals, and life insurance products for individuals and businesses). We are licensed to do business in New York and our Home Office is located at 489 Fifth Ave., 28th Floor, New York, New York 10017.

We are a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company (“GWL&A”), a life insurance company domiciled in Colorado. GWL&A is a wholly-owned subsidiary of GWL&A Financial Inc. (“GWL&A Financial”), a Delaware holding company. GWL&A Financial is an indirect wholly-owned subsidiary of Great-West Lifeco, Inc. (“Lifeco”), a Canadian holding company. Lifeco is a subsidiary of Power Financial Corporation (“Power Financial”), a Canadian holding company with substantial interests in the financial services industry. Power Financial is a subsidiary of Power Corporation of Canada (“Power Corporation”), a Canadian holding and management company. Through a group of private holding companies, The Desmarais Family Residuary Trust, which was created on October 8, 2013 under the Last Will and Testament of Paul G. Desmarais, has voting control of Power Corporation of Canada.

Effective December 31, 2005, First Great-West Life & Annuity Insurance Company (“First Great-West”), a stock life insurance company incorporated under the laws of the State of New York on April 9, 1996, was merged with and into CLNY. Upon the merger, CLNY became the surviving entity under New York corporate law and was renamed to First Great-West Life & Annuity Insurance Company. As the surviving corporation in the merger, CLNY assumed legal ownership of all of the assets of First Great-West, including the Series Account, and it became directly liable for First Great-West’s liabilities and obligations, including those with respect to other variable annuity contracts supported by the Series Account. Effective September 24, 2012, First Great-West Life & Annuity Insurance Company was then renamed to Great-West Life & Annuity Insurance Company of New York.

Any payments we are required to make to you under the GLWB Rider will depend on our long-term ability to make such payments. We will make all payments under the GLWB Rider in the GLWB Settlement Phase from our general account, which is not insulated from the claims of our third party creditors. Therefore, your receipt of payments from us is subject to our financial strength and claims paying ability. The Covered Fund does not make payments under the GLWB Rider.

On January 24, 2019, GWL&A announced that it had entered into an agreement with Protective Life Insurance Company (“Protective”) to sell, via indemnity reinsurance, substantially all of its non-participating individual life insurance and annuity business and group life and health business, including this Contract. Subject to the provision of certain services by GWL&A or its affiliates for a transitional period following the closing, Protective will agree to provide administration for the Contract in accordance with their terms and conditions. The transaction is expected to close in the first half of 2019, subject to regulatory approvals and customary closing conditions.

The Series Account

The Series Account is registered with the SEC under the 1940 Act as a unit investment trust. Registration under the 1940 Act does not involve supervision by the SEC of the management or investment practices or policies of the Series Account. The Series Account was established in accordance with New York laws on January 15, 1997.

The Contract may refer to the Series Account as the “Separate Account.”

We own the assets of the Series Account. The income, gains, or losses, realized or unrealized, from assets allocated to the Series Account are credited to or charged against the Series Account without regard to our other income, gains, or losses.

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We will at all times maintain assets in the Series Account with a total market value at least equal to the reserves and other liabilities relating to the variable benefits under all Contracts participating in the Series Account. Those assets may not be charged with our liabilities from our other business. Our obligations under the Contracts are, however, our general corporate obligations.

In calculating our corporate income tax liability, we derive certain corporate income tax benefits associated with the investment of company assets, including Series Account assets that are treated as company assets under applicable income tax law. These benefits, which reduce our overall corporate income tax liability, may include dividends received deductions and foreign tax credits which can be material. We do not pass these benefits through to the Series Account or our other separate accounts, principally because: (i) the great bulk of the benefits results from the dividends received deduction, which involves no reduction in the dollar amount of dividends that the Series Account receives; and (ii) under applicable income tax law, Owners are not the owners of the assets generating the benefits.

The Series Account is divided into several Sub-Accounts. Each Sub-Account invests exclusively in shares of a corresponding investment Portfolio of a registered investment company (commonly known as a mutual fund). We may in the future add new Sub-Accounts, terminate, substitute or discontinue existing Sub-Accounts. The income, gains, or losses, realized or unrealized, from assets allocated to each Sub-Account are credited to, or charged against, that Sub-Account without regard to the other income, gains, or losses of the other Sub-Accounts. All amounts allocated to a Sub-Account will be fully invested in Portfolio shares.

We hold the assets of the Series Account. We keep those assets physically segregated and held separate and apart from our general account assets. We maintain records of all purchases and redemptions of shares of the Portfolios.

The Portfolios

The Contract offers a number of investment options, corresponding to the Sub-Accounts. Each Sub-Account invests in a single Portfolio. Each Portfolio is a separate mutual fund registered under the 1940 Act. More comprehensive information, including a discussion of potential risks, is found in the current prospectuses for the Portfolios. You should read the Portfolios’ prospectuses in connection with this Prospectus. You may obtain a copy of the Portfolios’ prospectuses without charge by Request. If you received a summary prospectus for a Portfolio, please follow the directions on the first page of the summary prospectus to obtain a copy of that Portfolio’s prospectus.

Each Portfolio:

• holds its assets separately from the assets of the other Portfolios,

• has its own distinct investment objectives and policies, and

• operates as a separate investment fund.

The income, gains and losses of one Portfolio generally have no effect on the investment performance of any other Portfolio.

The Portfolios are not available to the general public directly. The Portfolios are only available as investment options in variable annuity contracts or variable life insurance policies issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the Portfolios have been established by investment advisers that manage publicly available mutual funds having similar names and investment objectives. While some of the Portfolios may be similar to, and may in fact be modeled after publicly available mutual funds, you should understand that the Portfolios are not otherwise directly related to any publicly available mutual fund. Consequently, the investment performance of publicly available mutual funds and any corresponding Portfolios may differ. The investment objectives of the Portfolios available under the Investment Segment are briefly described below followed by the investment objective of each of the Covered Funds available under the Income Segment:

AB Variable Products Series Fund, Inc. – advised by AllianceBernstein, L.P.

AB VPS Growth and Income Portfolio (Class A Shares) - seeks long-term growth of capital.

AB VPS Large Cap Growth Portfolio (Class A Shares) - seeks long-term growth of capital.

AB VPS Small/Mid Cap Value Portfolio (Class A Shares) - seeks long-term growth of capital.

AIM Variable Insurance Funds (Invesco Variable Insurance Funds) - advised by Invesco Advisers, Inc.

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Invesco V.I. Comstock Fund (Series I Shares) - seeks capital growth and income.

Invesco V.I. Growth and Income Fund (Series I Shares) - seeks long-term growth of capital and income.

Invesco V.I. High Yield Fund (Series I Shares) - seeks total return, comprised of current income and capital appreciation.

Invesco V.I. International Growth Fund (Series I Shares) - seeks long-term growth of capital.

Invesco V.I. Small Cap Equity Fund (Series I Shares)* - seeks long-term growth of capital.

Alger Portfolios – advised by Fred Alger Management, Inc.

Alger Capital Appreciation Portfolio (Class I-2 Shares) - seeks long-term capital appreciation.

ALPS Variable Investment Trust – advised by ALPS Advisors, Inc.

ALPS|Red Rocks Listed Private Equity Portfolio (Class I Shares) - seeks to maximize total return, which consists of appreciation on its investments and a variable income stream.

American Century Variable Portfolios, Inc. – advised by American Century Investment Management, Inc.

American Century Investments^® VP Balanced Fund (Class I Shares) - seeks long-term capital growth and current income by investing approximately 60% of its assets in equity securities and the remainder in bonds and other fixed-income securities.

American Century Investments^® VP Income & Growth Fund (Class I Shares) - seeks capital growth; income is a secondary objective.

American Century Investments^® VP International Fund (Class I Shares) - seeks capital growth.

American Century Investments^® VP Mid Cap Value Fund (Class II Shares) - seeks long-term capital growth; income is a secondary consideration.

American Century Investments^® VP Value Fund (Class I Shares) - seeks long-term capital growth; income is a secondary consideration.

American Funds Insurance Series^® - advised by Capital Research and Management Company

American Funds Insurance Series^® Growth-Income Fund (Class 4 Shares) - seeks to achieve long-term growth of capital and income.

American Funds Insurance Series^® New World Fund^® (Class 2 Shares) - seeks long-term capital appreciation.

Blackrock Variable Series Funds, Inc. - advised by BlackRock Advisors, LLC

BlackRock Global Allocation V.I. Fund (Class I Shares) - seeks high total investment return.

BlackRock iShares^® Dynamic Allocation V.I. Fund (Class III Shares) - seeks to track the investment results of an index composed of global equities in the technology sector.

Columbia Funds Variable Insurance Trust - advised by Columbia Management Investment Advisers, LLC

Columbia Variable Portfolio - Small Cap Value (Class 2 Shares) - seeks long-term capital appreciation.

Columbia Funds Variable Series Trust II - advised by Columbia Management Investment Advisors, LLC

Columbia Variable Portfolio - Large Cap Growth Fund (Class 2 Shares) - seeks to provide shareholders with long-term capital growth.

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Columbia Variable Portfolio - Seligman Global Technology Fund (Class 2 Shares) - seeks long-term capital appreciation.

Delaware VIP^® Trust – advised by Delaware Management Company

Delaware VIP^® Emerging Markets Series (Standard Class Shares) - seeks long-term capital appreciation.

Delaware VIP^® International Value Equity Series (Standard Class Shares) - seeks long-term growth without undue risk to principal.

Delaware VIP^® Small Cap Value Series (Standard Class Shares) - seeks capital appreciation.

Delaware VIP^® Smid Cap Core Series (Standard Class Shares) - seeks long-term capital appreciation.

Delaware VIP^® Value Series (Standard Class Shares) - seeks long-term capital appreciation.

Deutsche DWS Investments VIT Funds – advised by DWS Investment Management Americas, Inc.

DWS Small Cap Index VIP (formerly Deutsche Small Cap Index VIP) (Class A Shares) - seeks to replicate, as closely as possible, before the deduction of expenses, the performance of the Russell 2000^® Index, which emphasizes stocks of small U.S. companies.

Deutsche DWS Variable Series I – advised by DWS Investment Management Americas, Inc.

DWS Capital Growth VIP (formerly Deutsche Capital Growth VIP) (Class A Shares) - seeks to provide long-term growth of capital.

DWS Core Equity VIP (formerly Deutsche Core Equity VIP) (Class A Shares) - seeks long-term growth of capital, current income and growth of income.

DWS Global Small Cap VIP (formerly Deutsche Global Small Cap VIP) (Class A Shares) - seeks above-average capital appreciation over the long term.

Deutsche DWS Variable Series II – advised by DWS Investment Management Americas, Inc.

DWS Small Mid Cap Growth VIP (formerly Deutsche Small Mid Cap Growth VIP) (Class A Shares) - seeks long-term capital appreciation.

Dreyfus Investment Portfolios – advised by The Dreyfus Corporation (effective on or about June 3, 2019, the Fund will be renamed the BNY Mellon Investment Portfolios and the Adviser will be renamed BNY Mellon Investment Adviser, Inc.)

Dreyfus Investment Portfolios MidCap Stock Portfolio (Initial Shares) (effective on or about June 3, 2019, this Portfolio will be renamed the BNY Mellon Investment Portfolios MidCap Stock Portfolio) - seeks investment results that are greater than the total return performance of publicly traded common stocks of medium-size domestic companies in the aggregate, as represented by the Standard & Poor's MidCap 400^® Index (S&P 400 Index).

Dreyfus Variable Investment Fund – advised by The Dreyfus Corporation (effective on or about June 3, 2019, the Fund will be renamed the BNY Mellon Variable Investment Fund and the Adviser will be renamed BNY Mellon Investment Adviser, Inc.)

Dreyfus Variable Investment Fund Growth and Income Portfolio (Initial Shares) (effective on or about June 3, 2019, this Portfolio will be renamed the BNY Mellon Variable Investment Fund Growth and Income Portfolio) - seeks long-term capital growth, current income and growth of income consistent with reasonable investment risk.

Federated Insurance Series – advised by Federated Investment Management Company

Federated Fund for U.S. Government Securities II - seeks to provide current income.

Franklin Templeton Variable Insurance Products Trust

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Franklin Small Cap Value VIP Fund (Class 2 Shares) - seeks long-term total return.

Templeton Foreign VIP Fund (Class 2 Shares)* - seeks long-term capital growth.

Templeton Global Bond VIP Fund (Class 2 Shares) - seeks high current income consistent with preservation of capital; capital appreciation is a secondary objective.

Great-West Funds, Inc. – advised by Great-West Capital Management, LLC

Great-West Aggressive Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds that emphasize equity investments.

Great-West Bond Index Fund (Investor Class Shares) - seeks investment results that track the total return of the debt securities that comprise the Bloomberg Barclays U.S. Aggregate Bond Index.

Great-West Conservative Profile Fund (Investor Class Shares) - seeks capital preservation primarily through investments in underlying funds that emphasize fixed income investments.

Great-West International Index Fund (Investor Class Shares) - seeks investment results, before fees and expenses that track the total return of the common stocks that comprise the MSCI EAFE (Europe, Australasia, Far East) Index.

Great-West Invesco Small Cap Value Fund (Investor Class Shares) - seeks long-term growth of capital.

Great-West Lifetime 2015 Fund (Investor Class Shares) - seeks income and secondarily, capital growth.

Great-West Lifetime 2020 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2020, it seeks income and secondarily capital growth.

Great-West Lifetime 2025 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2025, it seeks income and secondarily capital growth.

Great-West Lifetime 2030 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2030, it seeks income and secondarily capital growth.

Great-West Lifetime 2035 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2035, it seeks income and secondarily capital growth.

Great-West Lifetime 2040 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2040, it seeks income and secondarily capital growth.

Great-West Lifetime 2045 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2045, it seeks income and secondarily capital growth.

Great-West Lifetime 2050 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2050, it seeks income and secondarily capital growth.

Great-West Lifetime 2055 Fund (Investor Class Shares) - seeks capital appreciation and income consistent with its current asset allocation; after 2055, it seeks income and secondarily capital growth.

Great-West Mid Cap Value Fund (Investor Class Shares) - seeks long-term growth of capital.

Great-West Moderate Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds with a relatively equal emphasis on equity and fixed income investments.

Great-West Moderately Aggressive Profile Fund (Investor Class Shares)- seeks long-term capital appreciation primarily through investments in underlying funds that emphasize equity investments and, to a lesser degree, in underlying funds that emphasize fixed income investments.

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Great-West Moderately Conservative Profile Fund (Investor Class Shares) - seeks income and capital appreciation primarily through investments in underlying funds that emphasize fixed income investments and, to a lesser degree, in underlying funds that emphasize equity investments.

Great-West Multi-Sector Bond Fund (formerly Great-West Loomis Sayles Bond Fund) (Investor Class Shares) - seeks high total investment return through a combination of current income and capital appreciation.

Great-West Real Estate Index Fund (Investor Class Shares) - seeks investment results, before fees and expenses, that track the total return of a benchmark index that measures the performance of publicly traded equity real estate investment trusts (“REITs”).

Great-West T. Rowe Price Mid Cap Growth Fund (Investor Class Shares) - seeks long-term capital appreciation.

Ivy Variable Insurance Portfolios – advised by Ivy Investment Management Company

Ivy VIP International Core Equity (Class II Shares) - seeks capital growth and appreciation.

Janus Aspen Series – advised by Janus Capital Management LLC

Janus Henderson Balanced Portfolio (Service Shares) - seeks long-term capital growth, consistent with preservation of capital and balanced by current income.

Janus Henderson Flexible Bond Portfolio (Service Shares) - seeks to obtain maximum total return, consistent with preservation of capital.

Janus Henderson Global Research Portfolio (Institutional Shares)- seeks long-term growth of capital.

Janus Henderson Global Technology Portfolio (Service Shares) - seeks long-term growth of capital.

JPMorgan Insurance Trust – advised by J.P. Morgan Investment Management Inc.

JPMorgan Insurance Trust Small Cap Core Portfolio (Class 1 Shares) - seeks capital growth over the long term.

Lazard Retirement Series, Inc. – advised by Lazard Asset Management, LLC

Lazard Retirement Emerging Markets Equity Portfolio (Service Shares) - seeks long-term capital appreciation.

Legg Mason Partners Variable Equity Trust – advised by Legg Mason Partners Fund Advisor, LLC

ClearBridge Variable Large Cap Growth Portfolio (Class I Shares) - seeks long-term growth of capital.

ClearBridge Variable Mid Cap Portfolio (Class I Shares) - seeks long-term growth of capital.

ClearBridge Variable Small Cap Growth Portfolio (Class I Shares) - seeks long-term growth of capital.

Lincoln Variable Insurance Products Trust – advised by Lincoln Investment Advisors Corporation

LVIP Baron Growth Opportunities Fund (Service Class Shares) - seeks capital appreciation.

MFS^® Variable Insurance Trust – advised by Massachusetts Financial Services Company

MFS^® VIT Utilities Series (Service Class Shares) - seeks total return.

MFS^® Variable Insurance Trust II – advised by Massachusetts Financial Services Company

MFS^® VIT II International Growth Portfolio (Initial Class Shares) - seeks capital appreciation.

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MFS^® VIT II International Value Portfolio (Service Class Shares) - seeks capital appreciation.

MFS^® Variable Insurance Trust III – advised by Massachusetts Financial Services Company

MFS^® VIT III Blended Research^® Small Cap Equity Portfolio (Initial Class Shares)- seeks capital appreciation.

MFS^® VIT III Mid Cap Value Portfolio (Initial Class Shares) - seeks capital appreciation.

Nationwide Variable Insurance Trust – advised by Nationwide Fund Advisors

NVIT Mid Cap Index Fund (Class II Shares) - seeks capital appreciation.

Neuberger Berman Advisers Management Trust – advised by Neuberger Berman Investment Advisers LLC

Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio (Class S Shares) - seeks growth of capital.

Oppenheimer Variable Account Funds – advised by OFI Global Asset Management, Inc.

Oppenheimer Global Fund/VA (Non-Service Shares) - seeks capital appreciation.

Oppenheimer International Growth Fund/VA (Non-Service Shares) - seeks capital appreciation.

Oppenheimer Main Street Small Cap Fund/VA^® (Non-Service Shares) - seeks capital appreciation.

PIMCO Variable Insurance Trust – advised by Pacific Investment Management Company, LLC

PIMCO VIT CommodityRealReturn^® Strategy Portfolio (Administrative Class Shares) - seeks maximum real return, consistent with prudent investment management.

PIMCO VIT Emerging Markets Bond Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

PIMCO VIT High Yield Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

PIMCO VIT Low Duration Portfolio (Administrative Class Shares) - seeks maximum total return, consistent with preservation of capital and prudent investment management.

PIMCO VIT Real Return Portfolio (Administrative Class Shares) - seeks maximum real return, consistent with preservation of real capital and prudent investment management.

PIMCO VIT Total Return Portfolio (Administrative Class Shares)- seeks maximum total return, consistent with preservation of capital and prudent investment management.

Pioneer Variable Contracts Trust – advised by Amundi Pioneer Asset Management, Inc.

Pioneer Bond VCT Portfolio (Class I Shares) - seeks current income from an investment grade portfolio with due regard to preservation of capital and prudent investment risk.

Pioneer Fund VCT Portfolio (Class I Shares) - seeks reasonable income and capital growth.

Pioneer Select Mid Cap Growth VCT Portfolio (Class I Shares) - seeks long-term capital growth.

Putnam Variable Trust – advised by Putnam Investment Management, LLC

Putnam VT Equity Income Fund (Class IB Shares) - seeks capital growth and current income.

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Putnam VT Global Asset Allocation Fund (Class IA Shares) - seeks long-term return consistent with preservation of capital.

Putnam VT Income Fund (Class IA Shares) - seeks high current income consistent with what the manager believes to be prudent risk.

Putnam VT International Equity Fund (Class IA Shares) - seeks capital appreciation.

Putnam VT International Value Fund (Class IA Shares) - seeks capital growth; current income is a secondary objective.

Putnam VT Mortgage Securities Fund (Class IB Shares) - seeks high current income with preservation of capital as its secondary objective.

Putnam VT Multi-Cap Core Fund (formerly Putnam VT Investors Fund) (Class IA Shares) - seeks capital appreciation.

Putnam VT Small Cap Value Fund (Class IA Shares) - seeks capital appreciation.

Schwab Annuity Portfolios – advised by Charles Schwab Investment Management, Inc.

Schwab Government Money Market Portfolio^TM - seeks the highest current income consistent with stability of capital and liquidity. This Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. There can be no assurance that the Portfolio will be able to maintain a stable net asset value of $1.00 per share.

Schwab^® S&P 500 Index Portfolio - seeks to track the total return of the S&P 500^® Index.

T. Rowe Price Equity Series, Inc. – advised by T. Rowe Price Associates, Inc.

T. Rowe Price Health Sciences Portfolio (Portfolio-II Class Shares)- seeks long-term capital appreciation.

Touchstone Variable Series Trust – advised by Touchstone Advisors, Inc.

Touchstone Bond Fund* - seeks to provide as high a level of current income as is consistent with the preservation of capital; capital appreciation is a secondary goal.

Touchstone Common Stock Fund* - seeks to provide investors with capital appreciation.

Touchstone Focused Fund* (effective on or about July 12, 2019, this Fund will merge into the Touchstone Common Stock Fund) - seeks to provide investors with capital appreciation.

Touchstone Small Company Fund - seeks growth of capital.

VanEck VIP Trust – advised by Van Eck Associates Corporation

VanEck VIP Global Hard Assets Fund (S Class Shares) - seeks long-term capital appreciation by investing primarily in hard asset securities; income is a secondary consideration.

Wells Fargo Variable Trust – advised by Wells Fargo Funds Management, LLC

Wells Fargo VT Discovery Fund (Class 2 Shares) - seeks long-term capital appreciation.

Wells Fargo VT Omega Growth Fund (Class 2 Shares) - seeks long-term capital appreciation.

* The Sub-Account investing in this Portfolio is closed to new Contributions and incoming Transfers (including Automatic Custom Transfers).

The investment objectives of the Covered Funds available under the Income Segment are briefly described below and discussed in more detail below under “Guaranteed Lifetime Withdrawal Benefit.” The Contract currently offers four Covered Funds. Great-West may make additional or fewer Covered Funds available to Contract Owners in the future.

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Great-West Funds, Inc. – advised by Great-West Capital Management, LLC

Great-West Conservative Profile Fund (Investor Class Shares) - seeks capital preservation primarily through investments in underlying funds that emphasize fixed income investments.

Great-West Moderate Profile Fund (Investor Class Shares) - seeks long-term capital appreciation primarily through investments in underlying funds with a relatively equal emphasis on equity and fixed income investments.

Great-West Moderately Conservative Profile Fund (Investor Class Shares) - seeks income and capital appreciation primarily through investments in underlying funds that emphasize fixed income investments and, to a lesser degree, in underlying funds that emphasize equity investments.

Great-West SecureFoundation^® Balanced Fund (Investor Class Shares) - seeks long-term capital appreciation and income.

Meeting Investment Objectives

Meeting investment objectives depends on various factors, including, but not limited to, how well the Portfolio managers anticipate changing economic and market conditions. There is no guarantee that any of these Portfolios will achieve their stated objectives.

Where to Find More Information About the Portfolios

Additional information about the investment objectives and policies of all the Portfolios and the investment advisory and administrative services and charges can be found in the current prospectuses of the Portfolios, which can be obtained from the Retirement Resource Operations Center. You may also visit https://schwab.retirementpartner.com.

You should read the Portfolios’ prospectuses carefully before making any decision concerning the allocation of Contributions to, or Transfers among, the Sub-Accounts.

Addition, Deletion or Substitution of Sub-Accounts

Great-West selects the Portfolios offered though the Contract based on several criteria, including but not limited to asset class coverage, brand recognition, the reputation and tenure of the adviser or sub-adviser, expenses, performance, marketing, availability, investment conditions, and the qualifications of each investment company. Another factor we consider is whether the Portfolio or an affiliate of the Portfolio will compensate Great-West for providing certain administrative, marketing, or support services that would otherwise be provided by the Portfolio, its investment adviser, or its distributor. For more information on such compensation, see “Distribution of the Contracts,” below. When we develop and offer a variable annuity product in cooperation with a fund family or a distributor, Great-West will generally include Portfolios based on recommendations made by the fund family or the distributor, whose selection criteria may differ from our own. We have selected Portfolios of the Great-West Funds at least in part because they are managed by our directly owned subsidiary.

Great-West does not control the Portfolios that are not affiliated with us, and cannot guarantee that any of the Portfolios will always be available for allocation of Contributions or Transfers. We retain the right to make changes in the Series Account and in its investments, including the right to establish new Sub-Accounts or to eliminate existing Sub-Accounts.

Great-West periodically reviews each Portfolio and reserves the right to discontinue the offering of any Portfolio if we determine the Portfolio no longer meets one or more of the criteria, or if the Portfolio has not attracted significant allocations. If a Portfolio is discontinued, we may substitute shares of another Portfolio or shares of another investment company for the discontinued Portfolio’s shares; provided however, any share substitution will comply with the requirements of the 1940 Act. If you are contributing to a Sub-Account corresponding to a Portfolio that is being discontinued, we will provide notice prior to the Portfolio’s elimination.

Application and Initial Contributions

The first step to purchasing the Schwab OneSource Choice Variable Annuity is to complete your Contract application and submit it with your initial minimum Contribution of $5,000. You can make initial Contributions by check (payable to Great-West), by transferring amounts from an eligible brokerage account or by other methods approved by Great-West. You also may purchase the Contract through

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an exchange provided that the contract you are exchanging for the Schwab OneSource Choice Variable Annuity has a cash value of at least $5,000. You may also purchase the Contract through a rollover of assets from certain qualified retirement plans or IRAs, or as a beneficiary of an inherited IRA, provided the rollover amount or inherited amount is at least $5,000.

The Contract application and any initial Contributions made by check will be processed by the Retirement Resource Operations Center.

If your application is complete, your Contract will be issued and your Contribution will be credited within two Business Days after receipt by Great-West. Acceptance is subject to sufficient information in a form acceptable to us. We reserve the right to reject any application or Contribution.

If your application is incomplete, you will be contacted by telephone or email to obtain the required information. If the information necessary to complete your application is not received within five Business Days, we will return to you both your check and the application. If you provide consent we will retain the initial Contribution and credit it as soon as we have completed your application.

Right of Cancellation Period

During the ten day right of cancellation period, you may cancel your Contract. If you purchased your Contract as a replacement of an existing contract, the right of cancellation period is extended to 60 days from the date you received it. If you exercise your right of cancellation, you must return the Contract to the Retirement Resource Operations Center or an agent of Great-West. Contracts returned during the right of cancellation period will be void from the start and we will return your Annuity Account Value plus fees and charges as of the date of mailing or the day you deliver the Contract to Great-West or an authorized agent of Great-West. This amount may be higher or lower than your Contributions depending on the investment performance, which means you bear the risk until we receive your Contract and Request for cancellation.

Initial Contributions will be allocated to the Sub-Accounts you select in your application. During the right of cancellation period, the Owner may change the Sub-Account allocations as well as the allocation percentages.

Subsequent Contributions

Once your application is complete and we have received your initial Contribution, you can make subsequent Contributions to the Investment Segment at any time prior to the Annuity Commencement Date, as long as the Annuitant is living. Additional Contributions must be at least $500; or, $100 if made via an Automatic Bank Draft Plan, if available. Total Contributions may exceed $1,000,000 only with our prior approval.

You can make subsequent Contributions by check, Automatic Bank Draft Plan, if available, transfers from your brokerage account or other method approved by Great-West. If you make subsequent Contributions by check, your check should be payable to Great-West.

We will allocate the subsequent Contributions to the Sub-Accounts selected by you and in the proportion Requested by you. If there are no accompanying instructions, Sub-Account allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

You will receive a confirmation of each Contribution you make upon its acceptance. Subsequent Contributions are credited the day they are received in the Retirement Resource Operations Center at Great-West if they are received on a Business Day. Subsequent Contributions received on non-Business Days will be credited the next Business Day.

If you cancel a purchase payment or if your check is returned due to insufficient funds, you will be responsible for any losses or fees imposed by your bank and losses that may be incurred as a result of any decline in the value of the canceled purchase. We reserve the right to refrain from allocating Contributions to your selected Sub-Accounts until your bank notifies us that your check has cleared.

Great-West reserves the right to modify the limitations set forth in this section.

Annuity Account Value

Before the Annuity Commencement Date, the value of your Contract is the Annuity Account Value, which, before your Annuity Commencement Date, is the total dollar amount of all Accumulation Units credited to you for each Sub-Account. Initially, the value of each Accumulation Unit was set at $10.00.

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Each Sub-Account’s value prior to the Payout Election Date is equal to:

• net Contributions allocated to the corresponding Sub-Account;

• plus or minus any increase or decrease in the value of the assets of the Sub-Account due to investment results;

• minus the daily M&E Charge and/or quarterly Guarantee Benefit Fee; and

• minus any withdrawals or Transfers from the Sub-Account.

The value of a Sub-Account’s assets is determined at the end of each day that the New York Stock Exchange is open for regular business (a valuation date). A valuation period is the period between successive valuation dates. It begins at the close of the New York Stock Exchange (generally 4:00 p.m. ET) on each valuation date and ends at the close of the New York Stock Exchange on the next succeeding valuation date.

The Annuity Account Value is expected to change from valuation period to valuation period, reflecting the investment experience of the selected Sub-Account(s), as well as the deductions for applicable charges. The Guarantee Benefit Fee is deducted from Covered Fund Value by means of the cancellation of Accumulation Units and is not part of the Accumulation Unit value calculations.

Upon allocating Contributions to a Sub-Account you will be credited with variable Accumulation Units in that Sub-Account. The number of Accumulation Units you will be credited is determined by dividing the portion of each Contribution allocated to the Sub-Account by the value of an Accumulation Unit. The value of the Accumulation Unit is determined and credited at the end of the valuation period during which the Contribution was received.

Each Sub-Account’s Accumulation Unit value is established at the end of each valuation period. It is calculated by multiplying the value of that unit at the end of the prior valuation period by the Sub-Account’s Net Investment Factor for the valuation period. The formula used to calculate the Net Investment Factor is the same for the Investment Segment and Income Segment, as discussed in Appendix B.

Transfers

While your Contract is in force, and subject to the terms of the GLWB Rider, if applicable, you may Transfer all or part of your Annuity Account Value among and between the Sub-Accounts by telephone, in writing by sending a Request to the Retirement Resource Operations Center or through the Internet at https://schwab.retirementpartner.com. Incoming Transfers to closed Sub-Accounts are not permitted; Transfers are permitted after Annuity Payouts from the Investment Segment have begun.

Your Request must specify:

• the amounts being transferred,

• the Sub-Account(s) from which the Transfer is to be made, and

• the Sub-Account(s) that will receive the Transfer.

Any limitation on Transfers among Sub-Accounts that you can make during any Contract year is set forth on your Contract Data Page. Currently, we impose no charge for Transfers you make in excess of this amount. However, we reserve the right to impose such a charge in the future. If we choose to exercise this right we will notify you by sending you a supplement to this Prospectus, in accordance with all applicable regulations.

A Transfer generally will be effective on the date the Retirement Resource Operations Center receives the Request for Transfer if received before 4:00 p.m. ET on a Business Day. Any Transfer Request received after 4:00 p.m. ET becomes effective on the following Business Day. Under current tax law, there will not be any tax liability to you if you make a Transfer.

Transfers involving the Sub-Accounts will result in the purchase and/or cancellation of Accumulation Units having a total value equal to the dollar amount being transferred. The purchase and/or cancellation of such units is made using the value of the Sub-Accounts as of the end of the valuation date on which the Transfer is effective.

We reserve the right without prior notice to modify, restrict, suspend, or eliminate the Transfer privileges (including telephone and/or Internet Transfers) at any time.

At present, we do not impose minimums on amounts that must be transferred. However, we reserve the right to impose, from time to time, minimum dollar amounts that may be transferred from a Sub-Account.

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We also reserve the right to impose, from time to time, minimum dollar amounts that must remain in a Sub-Account after giving effect to a Transfer from that Sub-Account. At present, we do not impose any such minimums.

Market Timing and Excessive Trading

The Contracts are intended for long-term investment and not for the purpose of market timing or excessive trading activity by anyone. Market timing activity may dilute the interests of Contract Owners in the underlying Portfolios. Market timing generally involves frequent or unusually large Transfers that are intended to take advantage of short-term fluctuations in the value of a Portfolio’s portfolio securities and the reflection of that change in the Portfolio’s share price. In addition, frequent or unusually large Transfers may harm performance by increasing Portfolio expenses and disrupting Portfolio management strategies. For example, excessive trading may result in forced liquidations of portfolio securities or cause the Portfolio to keep a relatively high cash position, resulting in increased brokerage costs and lost investment opportunities.

We maintain procedures designed to prevent or minimize market timing and excessive trading (collectively, “prohibited trading”) by Owners. As part of those procedures, certain of the Portfolios have instructed us to perform standardized trade monitoring, while other Portfolios perform their own monitoring and request reports of the Owner’s trading activity if prohibited trading is suspected. If an Owner’s trading activity is determined to constitute prohibited trading, as defined by the applicable Portfolio, Great-West will notify the Owner that a trading restriction will be implemented if the Owner does not cease the prohibited trading. Some Portfolios may require that trading restrictions be implemented immediately without warning, in which case we will notify the Owner of the restriction imposed by the Portfolio(s), as applicable.

If a Portfolio determines, or, for Portfolios for which we perform trade monitoring, we determine based on the applicable Portfolio’s definition of prohibited trading, that the Owner continues to engage in prohibited trading, we will restrict the Owner from making Transfers into the identified Portfolio(s) for the period of time specified by the Portfolio(s). Restricted Owners will be permitted to make Transfers out of the identified Portfolio(s) to other available Portfolio(s). When the Portfolio’s restriction period has been met, the Owner will automatically be allowed to resume Transfers into the identified Portfolio(s).

For Portfolios that perform their own monitoring, the Series Account does not impose trading restrictions unless or until a Portfolio first detects and notifies us of prohibited trading activity. Accordingly, we cannot prevent all prohibited trading activity before it occurs, as it may not be possible to identify it unless and until a trading pattern is established. To the extent such Portfolios do not detect and notify us of prohibited trading or the trading restrictions we impose fail to curtail it, it is possible that a market timer may be able to make prohibited trading transactions with the result that the management of the Portfolios may be disrupted and the Owners may suffer detrimental effects such as increased costs, reduced performance, and dilution of their interests in the affected Portfolios.

We endeavor to ensure that our procedures are uniformly and consistently applied to all Owners, and we do not exempt any persons from these procedures. We do not enter into agreements with Owners whereby we permit prohibited trading. Subject to applicable state law and the terms of each Contract, we reserve the right without prior notice to modify, restrict, suspend or eliminate the Transfer privileges (including telephone Transfers) at any time, to require that all Transfer Requests be made by you and not by your designee, and to require that each Transfer Request be made by a separate communication to us. We also reserve the right to require that each Transfer Request be submitted in writing and be signed by you.

The Portfolios may have adopted their own policies and procedures with respect to frequent purchases and redemptions of their respective shares. The prospectuses for the Portfolios should describe any policies and procedures relating to restricting prohibited trading. The frequent trading policies and procedures of a Portfolio may be different, and more or less restrictive, than the frequent trading policies and procedures of other Portfolios and the policies and procedures we have adopted to discourage prohibited trading. For example, a Portfolio may impose a redemption fee. The Owner should also be aware that we are legally obligated to provide (at the Portfolios’ request) information about each amount you cause to be deposited into a Portfolio (including by way of premium payments and Transfers under your Contract) or removed from the Portfolio (including by way of withdrawals and Transfers under your Contract). If a Portfolio identifies you as having violated the Portfolio’s frequent trading policies and procedures, we are obligated, if the Portfolio requests, to restrict or prohibit any further deposits or exchanges by you in respect to that Portfolio. Under rules adopted by the SEC we are required to: (1) enter into a written agreement with each Portfolio or its principal underwriter that will obligate us to provide to the Portfolio promptly upon request certain information about the trading activity of individual Owners and (2) execute instructions from the Portfolio to restrict or prohibit further purchases or Transfers by specific Owners who violate the frequent trading policies established by the Portfolio. Accordingly, if you do not comply with any Portfolio’s frequent trading policies and procedures, you may be prohibited from directing any additional amounts into that Portfolio or directing any Transfers or other exchanges involving that Portfolio. You should review and comply with each Portfolio’s frequent trading policies and procedures, which are disclosed in the Portfolios’ current prospectuses.

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We may revise our market timing and excessive trading policy and related procedures at our sole discretion, at any time and without prior notice, as we deem necessary or appropriate to comply with state or federal regulatory requirements or to impose additional or alternative restrictions on Owners engaging in prohibited trading. In addition, our orders to purchase shares of the Portfolios are generally subject to acceptance by the Portfolio, and in some cases a Portfolio may reject or reverse our purchase order. Therefore, we reserve the right to reject any Owner’s Transfer Request if our order to purchase shares of the Portfolio is not accepted by, or is reversed by, an applicable Portfolio.

You should note that other insurance companies and retirement plans may also invest in the Portfolios and that those companies or plans may or may not have their own policies and procedures on frequent Transfers. You should also know that the purchase and redemption orders received by the Portfolios generally are “omnibus” orders from intermediaries such as retirement plans or separate accounts funding variable insurance contracts. Omnibus orders reflect the aggregation and netting of multiple orders from individual retirement plan Owners and/or individual Owners of variable insurance contracts. The nature of such orders may limit the Portfolios’ ability to apply their respective frequent trading policies and procedures. As a result, there is a risk that the Portfolios may not be able to detect potential prohibited trading activities in the omnibus orders they receive. We cannot guarantee that the Portfolios will not be harmed by Transfer activity relating to the retirement plans and/or other insurance companies that invest in the Portfolios. If the policies and procedures of other insurance companies or retirement plans fail to successfully discourage frequent Transfer activity, it may affect the value of your investments in the Portfolios. In addition, if a Portfolio believes that an omnibus order we submit may reflect one or more Transfer Requests from an Owner engaged in frequent Transfer activity, the Portfolio may reject the entire omnibus order and thereby interfere with our ability to satisfy your Request even if you have not made frequent Transfers. For Transfers into more than one investment option, we may reject or reverse the entire Transfer Request if any part of it is not accepted by or is reversed by a Portfolio.

Automatic Custom Transfers

Dollar Cost Averaging

You may arrange for systematic Transfers from any Sub-Account in the Investment Segment to any other open Sub-Account in either the Investment Segment or the Income Segment. These systematic Transfers may be used to Transfer values from a Sub-Account to other Sub-Accounts as part of a dollar cost averaging strategy. Dollar cost averaging allows you to buy more units when the price is low and fewer units when the price is high. Over time, your average cost per unit may be more or less than if you invested all your money at one time. However, dollar cost averaging does not assure a greater profit, or any profit, and will not prevent or necessarily alleviate losses in a declining market. There is no charge for participating in dollar cost averaging.

You can set up automatic dollar cost averaging on a monthly, quarterly, semi-annual, or annual basis. Your Transfer will be initiated on the Transaction Date one frequency period following the date of the Request. For example, if you Request quarterly Transfers on January 9, your first Transfer will be made on April 9 and every three months on the 9th thereafter. Transfers will continue on that same day each interval unless terminated by you or for other reasons as set forth in the Contract.

If there are insufficient funds in the applicable Sub-Account on the date your Transfer is scheduled, your Transfer will not be made. However, your dollar cost averaging Transfers will resume once there are sufficient funds in the applicable Sub-Account. Dollar cost averaging will terminate automatically when you start taking payouts from the Contract. Dollar cost averaging Transfers must meet the following conditions:

• The minimum amount that can be Transferred out of the selected Sub-Account is $100.

• You must: (1) specify the dollar amount to be Transferred, (2) designate the Sub-Account(s) to which the Transfer will be made, and (3) designate the percentage of the dollar amount to be allocated to each Sub-Account into which you are Transferring money. The Accumulation Unit values will be determined on the Transfer date.

How dollar cost averaging works:

Month	Contribution	Units Purchased	Price per Unit
Jan.	$250	10	$25.00
Feb.	250	12	20.83
Mar.	250	20	12.50
Apr.	250	20	12.50

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Month	Contribution	Units Purchased	Price per Unit
May	250	15	16.67
June	250	12	20.83

Average market value per unit $18.06

Investor’s average cost per unit $16.85

In the chart above, if all units had been purchased at one time at the highest unit value of $25.00, only 60 units could have been purchased with $1,500. By contributing smaller amounts over time, dollar cost averaging allowed 89 units to be purchased with $1,500 at an average unit price of $16.85. This investor purchased 29 more units at $1.21 less per unit than the average market value per unit of $18.06.

You may not participate in dollar cost averaging and Rebalancer at the same time.

Great-West reserves the right to modify, suspend, or terminate dollar cost averaging at any time. Also, any dollar cost averaging Transfers into a Sub-Account that has been eliminated or closed to new Contributions will be automatically defaulted into the Schwab Government Money Market Portfolio Sub-Account unless you contact the Retirement Resource Operations Center to make alternate arrangements.

Rebalancer

Over time, variations in each Sub-Account’s investment results will change your Sub-Account allocation percentages. Rebalancer allows you to automatically reallocate your Investment Segment Account Value to maintain your desired Sub-Account allocation. The Income Segment Account Value is not eligible for the Rebalancer. Participation in Rebalancer does not assure a greater profit, or any profit, nor will it prevent or necessarily alleviate losses in a declining market. There is no charge for participating in Rebalancer and it is only available for assets held in the Investment Segment.

You can set up Rebalancer as a one-time Transfer or on a quarterly, semi-annual, or annual basis. If you select to rebalance only once, the Transfer will take place on the Transaction Date of the Request.

If you select to rebalance on a quarterly, semi-annual, or annual basis, the first Transfer will be initiated on the Transaction Date one frequency period following the date of the Request. For example, if you Request quarterly Transfers on January 9, your first Transfer will be made on April 9 and every three months on the 9th thereafter. Transfers will continue on that same day each interval unless terminated by you or for other reasons as set forth in the Contract.

How Rebalancer works:

Suppose you purchased your annuity and you decided to allocate 60% of your initial Contribution to Sub-Accounts that invest in stocks; 30% to Sub-Accounts that invest in bonds and 10% to Sub-Accounts that invest in cash equivalents as in this pie chart:

Now assume that stock Portfolios outperform bond Portfolios and cash equivalents over a certain period of time. Over this period, the unequal performance may alter the Sub-Account allocation of the above hypothetical plan to look like this:

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Rebalancer automatically reallocates your Annuity Account Value to maintain your desired Sub-Account allocation. In this example, the Sub-Account allocation would be reallocated back to 60% in Sub-Accounts that invest in stocks; 30% in Sub-Accounts that invest in bonds; 10% in Sub-Accounts that invest in cash equivalents.

On the Transaction Date for the specified Request, assets will be automatically reallocated to the Sub-Accounts you selected. The Rebalancer option will terminate automatically when you start taking payouts from the Contract.

Rebalancer Transfers must meet the following conditions:

• Your entire Investment Segment Account Value must be included (except for Sub-Accounts that are closed to new Contributions and incoming Transfers).

• You must specify the percentage of your Investment Segment Account Value that you wish allocated to each Sub-Account and the frequency of rebalancing. You may modify the allocations or stop the Rebalancer option at any time.

• You may not participate in dollar cost averaging and Rebalancer at the same time.

Great-West reserves the right to modify, suspend, or terminate the Rebalancer option at any time. Also, any Rebalancer Transfers into a Sub-Account that has been eliminated or closed to new contributions will be automatically defaulted into the Schwab Government Money Market Portfolio Sub-Account unless you contact the Retirement Resources Operation Center to make alternate arrangements.

Cash Withdrawals

You may withdraw all or part of your Annuity Account Value at any time during the life of the Annuitant and prior to the Annuity Commencement Date by submitting a withdrawal Request form to the Retirement Resource Operations Center or via the Internet at https://schwab.retirementpartner.com; however, any full withdrawals or any withdrawal over $25,000 must be submitted in writing. Withdrawals are subject to the rules below and federal or state laws, rules, or regulations may also apply. The amount payable to you if you surrender your Contract is your Annuity Account Value, less any applicable Premium Tax. No withdrawals may be made from the Investment Segment after the Annuity Commencement Date. If you surrender your Contract, the GLWB Rider, if elected, will terminate.

If you Request a partial withdrawal, your Annuity Account Value will be reduced by the partial withdrawal amount and the Death Benefit, if applicable, will be reduced on a proportionate basis measured as a percentage of the partial withdrawal against the current Annuity Account Value. For example, a partial withdrawal of 10% of the Annuity Account Value would reduce your Death Benefit by 10%.

Numerical Example

Sum of Contract and GLWB Rider (if applicable) Contributions = $50,000

Annuity Account Value = $40,000

Withdrawal amount = $4,000

New Annuity Account Value = $36,000

Return of Annuity Account Value Death Benefit (Death Benefit Option 1) = $36,000

Adjustment to Death Benefit = ($40,000 - $4,000)/$40,000 = 0.90

Guaranteed Minimum Death Benefit (Death Benefit Option 2) = $45,000 ($50,000 x 0.90)

Partial withdrawals are unlimited in frequency. However, you must specify the Sub-Account(s) from which the withdrawal is to be made. If you elect the GLWB Rider, withdrawals from the Income Segment could significantly reduce, or even eliminate, the value of the

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GLWB. Before you decide to take a partial withdrawal from the Income Segment, you should carefully consider the terms and conditions of the GLWB and the impact of any withdrawal on your Benefit Base. If you do not specify from which Sub-Accounts to take the withdrawal, we will take it from all of your Sub-Accounts in the Investment Segment in proportion to the Annuity Account Value you have in each Sub-Account of the Investment Segment. The minimum partial withdrawal is $500.

The following terms apply to withdrawals:

• Partial withdrawals or surrenders from the Investment Segment are not permitted after the Annuity Commencement Date;

• If a partial withdrawal is made within 30 days of the date annuity payouts are scheduled to begin, we may delay the Annuity Commencement Date by 30 days;

• A partial withdrawal or a surrender will be effective upon the Transaction Date.

Withdrawal Requests submitted in writing must include your original signature. If your instructions are not clear, your Request will be denied and no surrender or partial withdrawal will be processed.

If we receive a Request for surrender or partial withdrawal, we may postpone any cash payment from the Annuity Account Value for no more than 7 days.

We may also delay payment for any of the following reasons:

(a)	any period during which the New York Stock Exchange is closed (other than customary weekend and holding closings) or trading on the New York Stock Exchange is restricted;
(b)	any period during which an emergency exists such that the disposal of or determination of the value of shares of the Portfolios is not reasonably practicable; or
(c)	any other period as the SEC may by order permit for the protection of security holders.

After a withdrawal of all of your Annuity Account Value, or at any time that your Annuity Account Value and Benefit Base are reduced to zero, all your rights under the Contract and GLWB Rider will terminate.

Tax consequences of withdrawals are detailed below, but you should consult a competent tax advisor prior to authorizing a withdrawal from your Annuity Account Value.

Tax Consequences of Withdrawals

Withdrawals made for any purpose may be taxable—including Guaranteed Lifetime Withdrawal Benefits.

In addition, the Code may require us to withhold federal income taxes from withdrawals and report such withdrawals to the Internal Revenue Service (“IRS”). If you Request partial withdrawals, your Annuity Account Value will be reduced by the sum of the amount of the withdrawal and the related withholding.

You may elect, in writing, to have us not withhold federal income tax from withdrawals, unless withholding is mandatory for your Contract. If you are younger than 59 ¹⁄2, the taxable portion of any withdrawal is generally considered to be an early withdrawal and may be subject to an additional federal penalty tax of 10%.

Some states also require withholding for state income taxes. For details about withholding, please see “Federal Tax Matters” below.

Telephone and Internet Transactions

You may make Transfer Requests by telephone, fax and/or by Internet. Transfer Requests received before 4:00 p.m. ET will be made on that day at that day’s unit value. Those received after 4:00 p.m. ET will be made on the next Business Day at that day’s unit value.

We will use reasonable procedures to confirm that instructions communicated by telephone, fax and/or Internet are genuine, such as:

• requiring some form of personal identification prior to acting on instructions;

• providing written confirmation of the transaction; and/or

• tape recording the instructions given by telephone.

If we follow such procedures we will not be liable for any losses due to unauthorized or fraudulent instructions.

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We reserve the right to suspend telephone, fax and/or Internet transaction privileges at any time, for some or all Contracts, and for any reason. We currently do not permit partial withdrawals or surrenders by telephone; however you may Request partial withdrawals in the amount of $25,000 or less by Internet. All Requests for full surrenders, periodic withdrawals, and partial withdrawals in excess of $25,000 must be in writing.

Death Benefit

At the time you apply to purchase the Contract, on the application, you select one of the two Death Benefit options we offer.

Option 1 — The amount of the Death Benefit under Option 1 will be your Annuity Account Value as of the date we receive a Request for the payout of the Death Benefit, minus any Premium Tax.

The Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 at the time the Contract is issued in order for you to select Option 1. Your Mortality and Expense Risk Charge under Option 1 is 0.65% of the average daily value of the Sub-Accounts to which you have allocated Contributions.

Option 2 — The amount of the Death Benefit under Option 2 will be the greater of:

• the Annuity Account Value as of the date we receive a Request for the payout of the Death Benefit, minus any Premium Tax; or

• the sum of Contributions applied to the Contract in both the Investment Segment and the Income Segment, as of the date the Request for payment is received, less the impact of partial withdrawals, distributions, and Premium Tax, if any.

The Owner, Annuitant, and Contingent Annuitant each must be younger than age 86 at the time the Contract is issued in order for you to select Option 2. Your Mortality and Expense Risk Charge under Option 2 is 0.85% of the average daily value of the Sub-Accounts to which you have allocated Contributions.

For a full description of the circumstances under which we pay the Death Benefit, please see “Distribution of Death Benefit” below.

The difference between the two Death Benefit options we offer is that the amount payable upon death (the Death Benefit) is based on different criteria for each option and there is a different Mortality and Expense Risk Charge for each. Option 1 provides for the return of Annuity Account Value (minus any Premium Tax) rather than the greater of Annuity Account Value or the sum of Contributions. Annuity Account Value could exceed the sum of Contributions, for example, if the investment markets generally are in a growth state. Under these circumstances, it is possible that the performance of the Sub-Accounts you select may cause the Annuity Account Value to exceed the total amount of Contributions. If you had selected Death Benefit Option 1 in this example, your Beneficiary would receive the Annuity Account Value, which in this case exceeds the sum of all Contributions (minus any Premium Tax and minus the impact of partial withdrawals, distributions, and Premium Tax, if any). If you had selected Death Benefit Option 2 in this example, your Beneficiary would also receive the Annuity Account Value (minus any Premium Tax), but you would have paid a higher M&E Charge for the duration of the Contract.

Option 2 provides for the return of Contributions (minus any Premium Tax) in the event that amount is greater than the Annuity Account Value. This could happen, for example, if the Death Benefit becomes payable soon after the Contract is purchased (say, one to three years) and, during those years, while Contributions are being made, the investment markets generally are in decline. Under these circumstances, it is possible that the performance of the Sub-Accounts you select may cause the Annuity Account Value to be less than the total amount of Contributions. If you had selected Death Benefit Option 2 in this example, your Beneficiary would receive the greater amount, in this case, the sum of all Contributions (minus any Premium Tax and minus the impact of partial withdrawals, distributions, and Premium Tax, if any ). If you had selected Death Benefit Option 1 in this example, your Beneficiary would receive the lesser amount, in this case, the Annuity Account Value (minus any Premium Tax).

The Death Benefit will become payable following our receipt of the Beneficiary’s claim in good order. When an Owner dies before the Annuity Commencement Date and a Death Benefit is payable to a Beneficiary, the Death Benefit proceeds will remain invested according to the allocation instructions given by the Owner(s) until: (i) new allocation instructions are requested by the Beneficiary; (ii) the Death Benefit is actually paid to the Beneficiary, except where the GLWB Rider may not be maintained by the Beneficiary; or, (iii) a Request for a payout of the Death Benefit is processed, as described below.

See “Restricted Beneficiary Payout Options” below for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

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The amount of the Death Benefit will be determined as of the date we receive a Request for the payout of the Death Benefit. However, on the date a payout Request is processed, the Annuity Account Value will be transferred to the Schwab Government Money Market Sub-Account unless the Beneficiary elects otherwise.

Subject to the distribution rules below, payout of the Death Benefit may be made as follows:

• payout in a single sum, or

• payout under any of the variable annuity options provided under this Contract.

In any event, no payout of benefits provided under the Contract will be allowed that does not satisfy the requirements of the Code and any other applicable federal or state laws, rules or regulations.

Beneficiary

You may select one or more Beneficiaries. If more than one Beneficiary is selected, they will share equally in any Death Benefit payable unless you indicate otherwise. You may change the Beneficiary any time before the Annuitant’s death.

You may also select one or more Contingent Beneficiaries. You may change the Contingent Beneficiary before the Annuitant’s death. If one or more primary Beneficiaries are alive within 30 days after the Annuitant’s death, the Contingent Beneficiary cannot become the primary Beneficiary and any interest the Contingent Beneficiary may have in the Contract will cease.

A change of Beneficiary or Contingent Beneficiary will take effect as of the date the Request is processed, unless the Owner specifies a certain date. If the Owner dies before the Request is processed, the change will take effect as of the date the Request was made, unless we have already made a payout or otherwise taken action on a designation or change before receipt or processing of such Request. The interest of any Beneficiary who dies before the Owner or the Annuitant will terminate at the death of the Beneficiary and the Contingent Beneficiary will become the Beneficiary. The interest of any Beneficiary who dies at the time of, or within 30 days after, the death of an Owner or the Annuitant will also terminate if no benefits have been paid to such Beneficiary, unless the Owner otherwise indicates by Request. The benefits will then be paid to the Contingent Beneficiary. If no Contingent Beneficiary has been designated, then the benefits will be paid as though the Beneficiary had died before the deceased Owner or Annuitant. If no Beneficiary or Contingent Beneficiary survives the Owner or Annuitant, as applicable, we will pay the Death Benefit proceeds to the Owner’s estate.

If the Beneficiary is not the Owner’s surviving Spouse, she/he may elect, not later than one year after the Owner’s date of death, to receive the Death Benefit in either a single sum or payout under any of the variable annuity options available under the Contract, provided that:

• such annuity is distributed in substantially equal installments over the life or life expectancy of the Beneficiary or over a period not extending beyond the life expectancy of the Beneficiary; and

• such distributions begin not later than one year after the Owner’s date of death.

If Great-West does not receive an election from a non-Spouse Beneficiary or substantially equal installments begin later than one year after the Owner’s date of death, then the entire amount must be distributed within five years of the Owner’s date of death. The Death Benefit will be determined as of the Annuity Commencement Date.

If a corporation or other non-individual entity is entitled to receive benefits upon the Owner’s death, the Death Benefit must be completely distributed within five years of the Owner’s date of death.

A Beneficiary or Contingent Beneficiary designated irrevocably may not be changed without the written consent of that Beneficiary, or Contingent Beneficiary, as applicable, except as allowed by law.

See “Restricted Beneficiary Payout Options” below for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

If Great-West does not receive an election from a non-Spouse Beneficiary or substantially equal installments begin later than one year after the Owner’s date of death, then the entire amount must be distributed within five years of the Owner’s date of death. The Death Benefit will be determined as of the Annuity Commencement Date regardless of the timing of a non-Spouse Beneficiary’s election and notwithstanding more than a year passing after the Owner’s date of death.

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If a corporation or other non-natural entity is entitled to receive benefits upon the Owner’s death, the Death Benefit must be completely distributed within five years of the Owner’s date of death. A Beneficiary or Contingent Beneficiary designated irrevocably may not be changed without the written consent of that Beneficiary, or Contingent Beneficiary, as applicable, except as allowed by law.

For Contracts owned by Non-Grantor Trusts, the Owner will at all times be the Beneficiary.

Restricted Beneficiary Payout Options

You may also pre-select the form of Death Benefit payout that a specific Beneficiary or Contingent Beneficiary may receive (“Restricted Beneficiary Payout Options”). Restricted Beneficiary Payout Options allow the Owner to choose the percent of a lump sum payment of the applicable Death Benefit (from 0% to 100%) that may be accessed by a specific Beneficiary or Contingent Beneficiary, and/or which of the payout options provided under the Contract must apply to a specific Beneficiary or Contingent Beneficiary upon the Owner’s death. You may select Restricted Beneficiary Payout Options at Contract issuance or at a later time.

Restricted Beneficiary Payout Options are only available to Contracts owned by natural persons or Grantor Trusts. Requests for Restricted Beneficiary Payout Options must be submitted in writing and signed by the Owner (including the Joint Owner, if applicable), and may be modified or cancelled at any time by the Owner prior to the Annuity Commencement Date or Owner’s death. Restricted Beneficiary Payout Options only become irrevocable upon the death of the Owner, and if applicable, the Joint Owner. Assignment of the Contract or transfer of Contract ownership while the Owner is still alive will result in cancellation of all Restricted Beneficiary Payout Options.

Restricted Beneficiary Payout Options may not be selected for Contracts owned by Joint Owners unless both Joint Owners request in writing. Restricted Beneficiary Payout Options may allow restrictions to be placed on a surviving Spouse who is not a Joint Owner, such as restricting the type of death benefit received or designating someone other than the Spouse as Beneficiary, and may impact the ability of a surviving Spouse who is not a Joint Owner to become Owner of the Contract. Restricted Beneficiary Payout Options may have adverse or unintended tax or financial consequences on a surviving Spouse who is not a Joint Owner if the surviving Spouse is not the designated Beneficiary because the surviving Spouse would not be entitled to receive Death Benefits or have the ability to become Owner of the Contract.

Restricted Beneficiary Payout Options are irrevocable upon the death of the Owner, and if applicable, the Joint Owner, and cannot be changed by a non-Owner unless required under the Code or other applicable law. Under the Code, Death Benefit payments must begin within one year of the date the Death Benefit becomes payable for Non-Qualified Contracts, and by no later than December 31 of the year following the year in which the Death Benefit becomes payable for Qualified Contracts. Failure to adhere to this timing may prevent us from giving effect to Restricted Beneficiary Payout Options. Failure to provide Proof of Death to us may cause a delay in beginning payments, force amendment to payout options selected, or nullify Restricted Beneficiary Payout Options.

We reserve the right to modify or cancel any Restricted Beneficiary Payout Options in order to comply with requirements of the Code, and/or other applicable state and federal laws, rules, and regulations. All Death Benefit payments will be made in compliance with the Code, and/or other applicable state and federal laws, rules, and regulations governing death benefit payouts, including those affecting minor Beneficiaries.

You should consult with a competent advisor regarding whether Restricted Beneficiary Payout Options are suitable for your needs.

This feature is available under your existing Contract if you acquired your Contract before May 1, 2019, as well as for new Contracts. If you are interested in the Restricted Beneficiary Payout Options feature, please contact the Retirement Resource Operations Center to elect the endorsement.

Distribution of Death Benefit (for all Contracts other than Non-Qualified Stretch Annuities)

(For the distribution of Death Benefit rules applicable to Non-Qualified Stretch Annuities, see below.)

Any Death Benefit payable to a Beneficiary upon the Owner’s death will be distributed as follows:

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(1)

If the Owner’s surviving Spouse is the person entitled to receive benefits upon the Owner’s death, the surviving Spouse will be treated as the Owner and will be allowed to take the Death Benefit or continue the Contract in force. However, if single life GAW Installments have been selected for the Income Segment, then the GLWB will terminate and the assets held in the Covered Funds will be sold and the sales proceeds will be transferred to the Schwab Government Money Market Portfolio Sub-Account;

(2)

If a non-Spouse individual is the person entitled to receive benefits upon the Owner’s death, the non-Spouse individual Beneficiary may elect to receive the Death Benefit in either a single sum or payout under any of the variable annuity options available under the Contract, provided that: (a) such annuity is distributed in substantially equal installments over the life or life expectancy of the Beneficiary; and (b) such distributions begin no later than one year after the Owner’s date of death. The GLWB will terminate and the assets held in the Covered Funds will be sold and the sales proceeds will be transferred to the Schwab Government Money Market Portfolio Sub-Account. If Great-West does not receive an election from an individual non-Spouse Beneficiary such that substantially equal installments have begun no later than one year after the Owner’s date of death, then the entire amount must be distributed within five years of the Owner’s date of death.

See “Restricted Beneficiary Payout Options” above for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

The Death Benefit will be determined as of the date we receive a Request for the payout of the Death Benefit.

If a Joint Annuitant is named, any reference below to death of the Annuitant means the death of the last surviving Joint Annuitant and the rules below regarding “Death of Owner Who is Not the Annuitant” will apply upon the death of the Owner rather than the rules below regarding the “Death of Owner Who Is the Annuitant.”

Death of Annuitant Who is Not the Owner of the Contract

Upon the death of the Annuitant while the Owner is living, and before the Annuity Commencement Date, no Death Benefit will be payable and the Owner (or the Grantor, if the Owner is a Grantor Trust) will become the Annuitant unless a Contingent Annuitant has previously been designated. The Owner may designate a new Annuitant, however, at any time, as provided in the Contract.

If the Owner names a Contingent Annuitant prior to the Annuitant’s death, and the Annuitant dies before the Annuity Commencement Date while the Owner and Contingent Annuitant are living, no Death Benefit will be payable and the Contingent Annuitant will become the Annuitant.

If the Annuitant dies after the Annuity Commencement Date and before the entire interest has been distributed, any benefit payable must be distributed to the Beneficiary according to and as rapidly as under the payout option which was in effect on the Annuitant’s date of death.

Death of Owner Who Is Not the Annuitant

If the Owner dies before annuity payouts commence and there is a Joint Owner who is the surviving Spouse of the deceased Owner, the Joint Owner becomes the Owner and Beneficiary and the Joint Owner may elect to take the Death Benefit or to continue the Contract in force.

In all other cases, we will pay the Death Benefit to the Beneficiary even if a Joint Owner (who was not the Owner’s Spouse on the date of the Owner’s death), the Annuitant and/or the Contingent Annuitant are alive at the time of the Owner’s death, unless the sole Beneficiary is the deceased Owner’s surviving Spouse who may elect to become the Owner and Annuitant and to continue the Contract in force.

If the Owner dies after annuity payouts commence and before the entire interest has been distributed while the Annuitant is living, any benefit payable will continue to be distributed to the Annuitant as rapidly as under the payout option applicable on the Owner’s date of death. All rights granted the Owner under the Contract will pass to any surviving Joint Owner and, if none, to the Annuitant.

Death of Owner Who Is the Annuitant

If there is a Contingent Annuitant and a Joint Owner who is the surviving Spouse of the deceased Owner, the Joint Owner will become the Owner and the Beneficiary, the Contingent Annuitant will become the Annuitant, and the Contract will continue in force.

If there is a Joint Owner who is the surviving Spouse of the deceased Owner but no Contingent Annuitant, the Joint Owner will become the Owner, Annuitant, and Beneficiary and may elect to take the Death Benefit or continue the Contract in force.

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In all other cases, we will pay the Death Benefit to the Beneficiary, even if a Joint Owner (who was not the Owner’s Spouse on the date of the Owner’s death) and/or Contingent Annuitant are alive at the time of the Owner’s death, unless the sole Beneficiary is the deceased Owner’s surviving Spouse who may elect to become the Owner and Annuitant and to continue the Contract in force.

If Owner/Annuitant Dies After Annuity Commencement Date

If the Owner/Annuitant dies after the Annuity Commencement Date, any benefit payable must be distributed to the Beneficiary in accordance with and at least as rapidly as the annuity option in effect on the date of death.

Contingent Annuitant

While the Annuitant is living, you may, by Request, designate or change a Contingent Annuitant from time to time. A change of Contingent Annuitant will take effect as of the date the Request is processed, unless you specify a certain date. Please note you are not required to designate a Contingent Annuitant.

Deferred Payment

If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance Law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by Great-West on proceeds left on deposit under the interest settlement option.

Impact of Withdrawals on Guaranteed Minimum Death Benefit (Option 2)

Death Benefit Option 2, which costs more than Death Benefit Option 1, is designed for those who want to potentially receive a higher Death Benefit in the event that the sum of Contributions exceeds Annuity Account Value. If you have selected Death Benefit Option 2, you should be aware that distributions and Excess Withdrawals will reduce your Death Benefit on a pro-rata basis.

Numerical Example

Sum of Contract and GLWB Rider Contributions = $50,000

Annuity Account Value = $40,000

Withdrawal amount = $4,000

New Annuity Account Value = $36,000

Adjustment to Death Benefit = ($40,000 - $4,000)/$40,000 = 0.90

Guaranteed Minimum Death Benefit = $45,000 ($50,000 x 0.90)

The Benefit Base has no value and will not affect the Death Benefit.

Distribution of Death Benefit for Non-Qualified Stretch Annuities

(For the distribution of Death Benefit rules applicable to all Contracts other than Non-Qualified Stretch Annuities, see above.)

If the Owner of a Contract held as a Non-Qualified Stretch Annuity dies before the Annuity Commencement Date:

(1)	If there is a Joint Owner who is a surviving Spouse of the deceased Owner, the Joint Owner will become the Owner and the Beneficiary and may take the Death Benefit or elect to continue the Contract in force.
(2)	In all other cases, we will pay the Death Benefit to the Beneficiary even if a former Spouse Joint Owner, the Annuitant, and/or the Contingent Annuitant are alive at the time of the Owner’s death unless the sole Beneficiary is the deceased Owner’s surviving Spouse and such Beneficiary Requests to become the Owner and the Annuitant and to continue the Contract in force.

Any Death Benefit payable to the Beneficiary upon the Owner’s death will be distributed as follows:

(1)	If the Owner’s surviving Spouse is the Beneficial Owner upon the death of the Owner, the surviving Spouse will be allowed to take the Death Benefit or continue the Contract in force; or
(2)	If a non-Spouse natural person is the Beneficial Owner upon the death of the Owner, the Beneficial Owner may elect to continue the Contract by electing to have any portion of the value of the deceased Owner’s Contract payable to the Beneficial Owner over a period not extending beyond the Beneficial Owner’s life expectancy as defined by the Code (the ‘Stretch Payout Period’).

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The Stretch Payout Period must begin no later than one year after the date of the deceased Owner’s death and payments during the Stretch Payout Period will be made to the Beneficial Owner at least annually. Notwithstanding any prior distribution election, a Beneficial Owner may at any time (a) withdraw the entire remaining value of the Contract in a single sum, or (b) withdraw additional amounts which may result in the reduction of future payments because of the reduction of the value of the Contract.

If we do not receive an election from a non-Spouse Beneficial Owner such that substantially equal installments have begun no later than one year after the date of the deceased Owner’s death, then the entire amount must be distributed within five years of the deceased Owner’s date of death.

See “Restricted Beneficiary Payout Options” above for important limitations on a Beneficiary’s ability to elect a Death Benefit Payout Option.

The Death Benefit will be determined as of the Annuity Commencement Date.

Ownership and Assignment

The Owner, and if selected, Joint Owner, exercise all rights and privileges under the Contract, while the Annuitant is living. For Qualified Annuity Contracts, the Owner may not be changed and the Contract may not be transferred, sold, assigned, pledged, charged, encumbered, or in any way alienated. For Non-Qualified Annuity Contracts, the Contract may be assigned at any time before the Owner’s death.

A change of Owner must be made in writing in a form satisfactory to us. The change will take effect as of the date the Request is processed, unless you specify a certain date. Any change is subject to any payout or other action we have taken before recording your ownership change. For Non-Qualified Annuity Contracts, a change in the Owner of the Contract will result in termination of the GLWB Rider if the Covered Person(s) is/are changed. See “Termination of the GLWB Rider” below. You should discuss with a competent tax advisor how changes in ownership would impact your benefits under the Contract.

Grantor Trust Owned Annuity

We will issue the Contract to Grantor Trusts. Ownership may later be changed to a Grantor Trust after Contract issuance. We will allow a Grantor Trust to be the Owner only if it either has a single Grantor who is a natural person, or has two Grantors who are one another’s Spouse as of the Effective Date. When the Contract is issued to a Grantor Trust, a Grantor of the trust must be an Annuitant, and the Grantor’s spouse may be named as a Joint Annuitant. The Annuitant(s) may not be changed. Contracts owned by a Grantor Trust are not considered owned by a non-natural person and will be subject to the tax requirements generally applicable to Non-Qualified Annuity Contracts or the tax requirements applicable to individual retirement annuities or Roth IRA annuities if the Contract is a Qualified Annuity Contract under Section 408(b) of the Code or a Roth IRA annuity under Section 408A of the Code. Grantor Trust owned Contracts receive tax deferral in accordance with the Code. Upon the death of the Grantor(s), the Death Benefit will be paid pursuant to the Death Benefit provisions of the Contract.

Non-Grantor Trust Owned Annuity

On or after May 1, 2019, we will issue the Contract to Non-Grantor Trusts. Ownership may later be changed to a Non-Grantor Trust by endorsement after Contract issuance. Contracts owned by a Non-Grantor Trust are considered owned by a non-natural entity and will generally not be treated as an annuity for tax purposes. If a trust is a Non-Grantor Trust, the trust is treated as the owner of the trust assets, the trust is regarded as a separate tax entity with its own Tax Identification Number, and all income, including any increase in Annuity Account Value, is generally taxable as ordinary income to the trust during each taxable year. However, the IRS has issued a number of private letter rulings holding that in the case of a contract the nominal owner of which is a non-natural entity (e.g., a corporation or a trust), but the beneficial owner of which is a natural person, the contract generally will be treated as held by a natural person. We will issue this Contract only to a Non-Grantor Trust that holds the Contract as agent for a natural person. You should consult with your tax advisor as to whether your Non-Grantor Trust satisfies the exception to the non-natural owner rule.

If a Non-Grantor Trust owns the Contract, the grantor will be the Annuitant unless otherwise indicated in the application. If the Owner is a Non-Grantor Trust, all references to the life, age, or death of the Owner pertain to the life, age, or death of the Annuitant, and where there are Joint Annuitants, shall pertain to the older Joint Annuitant. Also, if a Non-Grantor Trust owns the Contract, then the Owner will at all times be the Beneficiary. Once selected, the Annuitant may not be changed. If there is a change of ownership of the Contract from a Non-Grantor Trust to a natural person, the original Annuitant and/or Joint Annuitant shall continue to determine any benefits under the

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Contract and GLWB Riders. Upon the death of the Annuitant, the Death Benefit will be paid to the Owner pursuant to the Death Benefit provisions of the Contract. Upon the death of either Joint Annuitant, the Contract will continue with the remaining single Annuitant in accordance with the death distribution rules under the Code unless the Owner elects to receive the Death Benefit. Divorce provisions of the Contract and GLWB Riders are not applicable to Non-Grantor Trust owned Contracts. Spousal continuation of the Contract is not applicable to Contracts owned by a Non-Grantor Trust. A Non-Grantor Trust cannot own a Qualified Contract.

A Non-Grantor Trust owned annuity is not available under your existing Contract if you acquired the Contract before May 1, 2019. If you are interested in the Non-Grantor Trust endorsement, please contact the Retirement Resource Operations Center to discuss availability of the endorsement by exchange of your Contract for one issued after May 1, 2019.

Non-Qualified Stretch Annuities

On or after May 1, 2019, a Contract may be acquired as a Non-Qualified Stretch Annuity, only by a natural person beneficiary of a non-qualified annuity contract (the “Beneficial Owner”) pursuant to a 1035 Exchange of the beneficiary’s interest after death of the owner (“source contract”). For more information on 1035 Exchanges, see “Seek Tax Advice, Section 1035 Exchanges” below. We will issue the Non-Qualified Stretch Annuity in the name of the deceased owner with the beneficiary as the Beneficial Owner. We must receive the full death benefit and the information we require from the insurance company that issued the source contract in sufficient time to allow us to begin making life expectancy payments under the Non-Qualified Stretch Annuity Contract.

A Beneficial Owner may not be a non-natural entity such as a Grantor Trust or Non-Grantor Trust. A Beneficial Owner of a Non-Qualified Stretch Annuity Contract may designate a Successor Beneficiary who is entitled to receive the Beneficial Owner’s remaining interest in the Contract upon the death of the Beneficial Owner. A Successor Beneficiary may not be a non-natural entity.

Non-Qualified Stretch Annuity Beneficial Owners may not elect a GLWB Rider or make Contributions to the Income Strategy. You should consult with a qualified tax professional before purchasing the Contract as Non-Qualified Stretch Annuity.

Non-Qualified Stretch Annuity ownership is not available under your existing Contract if you acquired the Contract before May 1, 2019. If you are interested in the Non-Qualified Stretch Annuity endorsement, please contact the Retirement Resource Operations Center to discuss availability of the endorsement by exchange of your Contract for one issued after May 1, 2019.

Inherited IRAs

The Contract may only be acquired by a natural person beneficiary of the original contract upon the original owner’s death. Inherited IRAs will be administered according to the Code, including restricting Contributions and the administration of Required Minimum Distributions. Inherited IRA Owners may not elect a GLWB Rider or make Contributions to an Income Strategy. You should consult with a qualified tax professional before acquiring the Contract as an inherited IRA.

Inherited IRA annuity ownership is available for existing Contracts acquired before May 1, 2019, as well as for new Contracts. If you are interested in owning the Contract as an Inherited IRA, please contact the Retirement Resource Operations Center to discuss availability by exchange of your Contract.

Joint Annuitants

If the Contract is a Non-Qualified Annuity Contract, you are permitted to name a Joint Annuitant. Joint Annuitants may be named in the application or any time before the Annuity Commencement Date. Joint Annuitants must be one another’s Spouse as of the Effective Date.

Charges and Deductions

No amounts will be deducted from your Contributions except for any applicable Premium Tax. As a result, the full amount of your Contributions (less any applicable Premium Tax) is invested in the Contract.

As more fully described below, charges under the Contract are assessed only as deductions for:

• Premium Tax, if applicable; and/or

• Charges against your Annuity Account Value for our assumption of mortality and expense risks; and/or

• Guarantee Benefit Fee, if applicable.

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Mortality and Expense Risk Charge

The mortality risk we assume is that Annuitants may live for a longer period of time than we estimate. We assume this mortality risk from our contractual obligations to make annuity payouts determined in accordance with the annuity tables and other provisions contained in the Contract which cannot be changed. This means that you can be sure that neither the Annuitant’s longevity nor an unanticipated improvement in general life expectancy will adversely affect the annuity payouts under the Contract. The expense risk we assume is the risk that our actual expenses in administering the Contracts and the Series Account will be greater than we anticipated.

To compensate us for assuming these risks, we deduct a Mortality and Expense Risk Charge from your Annuity Account Value at the end of each valuation period. If you select Death Benefit Option 1, this is a daily charge equal to an effective annual rate of 0.65%. We guarantee that this charge will never increase beyond 0.65%. If you select Death Benefit Option 2, the Mortality and Expense Risk Charge is a daily charge equal to an effective annual rate of 0.85%. We guarantee that this charge will never increase beyond 0.85%.

The Mortality and Expense Risk Charge is reflected in the unit values of each of the Sub-Accounts you have selected. Thus, this charge will continue to be applicable should you choose a variable annuity payout option or a periodic withdrawal option.

Annuity Account Values and annuity payouts are not affected by changes in actual mortality experience we incur.

The Mortality and Expense Risk Charge is higher for Owners who have selected Death Benefit Option 2 because we bear substantial risk in connection with that option. Specifically, we bear the risk that we may be required to pay an amount to your Beneficiary that is greater than your Annuity Account Value.

If the Mortality and Expense Risk Charge is insufficient to cover actual costs and risks assumed, we will bear the loss. If this charge is more than sufficient, any excess will be profit for us. Currently, we expect a profit from this charge. Our expenses for distributing the Contracts will be borne by our general assets, which include any profits from this charge.

Expenses of the Portfolios

The values of the assets in the Sub-Accounts reflect the values of the Sub-Accounts’ respective Portfolio shares and therefore the fees and expenses paid by each Portfolio. Fees and expenses are deducted from the assets of the Portfolios and are described in each Portfolio's prospectus. You bear these costs indirectly when you allocate to a Sub-Account.

Some of the Portfolios’ investment advisers or administrators may compensate us for providing administrative services in connection with the Portfolios or cost savings experienced by the investment advisers or administrators of the Portfolios. Such compensation is typically a percentage of the value of the assets invested in the relevant Sub-Accounts and generally may range up to 0.35% annually of net assets. GWFS Equities, Inc. (“GWFS”) is the principal underwriter and distributor of the Contracts and may also receive Rule 12b-1 fees (ranging up to 0.25% annually of net assets) directly from certain Portfolios for providing distribution related services related to shares of the Portfolios offered in connection with a Rule 12b-1 plan. If GWFS receives Rule 12b-1 fees, combined compensation received by us for administrative services and received by GWFS for distribution related services generally ranges up to 0.60% annually of the assets invested in the relevant Sub-Accounts.

Premium Tax

We may be required to pay state Premium Taxes or retaliatory taxes currently ranging from 0% to 3.5% in connection with Contributions or values under the Contracts. Currently, due to our total mix of business, our Premium Tax rate in New York for annuities is 0%. In the future, if we are required to pay Premium Taxes, we will deduct the charges for the Premium Taxes we incur with respect to your Contributions from amounts withdrawn or from annuity payments.

Other Taxes

Under present laws, we will incur state or local taxes (in addition to the Premium Tax described above) in New York. No charges are currently deducted for taxes other than Premium Tax. However, we reserve the right to deduct charges in the future for federal, state, and local taxes or the economic burden resulting from the application of any tax laws that we determine to be attributable to the Contract.

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Payout Options

During the Distribution Period, you can choose to receive payouts in three ways—through periodic withdrawals, variable annuity payouts or a single, lump-sum payment.

You may change the Payout Commencement Date within 30 days prior to commencement of payouts. The Annuity Commencement Date may not be earlier than 13 months after the Effective Date of the Contract.

Periodic Withdrawals

You may Request that all or part of the Investment Segment Account Value be applied to a periodic withdrawal option. All Requests for periodic withdrawals must be in writing. The amount applied to a periodic withdrawal is the Investment Segment Account Value, less Premium Tax, if any.

In Requesting periodic withdrawals, you must elect:

• The withdrawal frequency of either 1-, 3-, 6- or 12-month intervals;

• A minimum withdrawal amount of at least $100;

• The calendar day of the month on which withdrawals will begin;

• One of the periodic withdrawal payout options discussed below  —  you may change the withdrawal option and/or the frequency once each calendar year; and

• The type of allocation of withdrawals from the Investment Segment Sub-Accounts

• Withdrawals may be prorated across the Investment Segment Sub-Accounts in proportion to their assets; or

• Withdrawals may be made from specific Investment Segment Sub-Account(s). When the specified Investment Segment Sub-Account(s) is depleted, we will automatically prorate the remaining withdrawals against any remaining Sub-Account assets unless you Request otherwise.

While periodic withdrawals are being received:

• You may continue to exercise all contractual rights.

• You may keep the same Sub-Accounts as you had selected before periodic withdrawals began.

• Charges and fees under the Contract continue to apply.

Periodic withdrawals will cease on the earlier of the date:

• The amount elected to be paid under the option selected has been reduced to zero.

• The Investment Segment Account Value is zero.

• You Request that withdrawals stop.

• You purchase an annuity payout option.

• The Owner dies.

We may limit the number of times you may restart a periodic withdrawal program.

Periodic withdrawals made for any purpose may be taxable, subject to withholding and to the 10% federal penalty tax if you are younger than age 59 ¹⁄2.

If you choose to receive payouts from your Contract through periodic withdrawals, you may select from the following payout options:

Income for a specified period (at least 36 months) — You elect the length of time over which withdrawals will be made. The amount paid will vary based on the duration you choose. The amount paid will also vary as a result of investment performance.

Income of a specified amount (at least 36 months) — You elect the dollar amount of the withdrawals. Based on the amount elected, the duration may vary. The duration may also vary as a result of investment performance.

Any other form of periodic withdrawal acceptable to Great-West which is for a period of at least 36 months.

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Annuity Payouts From the Investment Segment

You can choose the date that you wish annuity payouts from the Investment Segment to start (the Payout Election Date) either when you purchase the Contract or at a later date. You can change your selection at any time up to 30 days before the annuity date that you have selected.

If you do not select a Payout Election Date, payouts will begin on the Annuitant’s 99th birthday. If the Owner does not initiate Installments under the GLWB Rider, the entire Annuity Account Value will be annuitized at that time and any benefit under the GLWB Rider will terminate. If you have initiated Installments under the GLWB Rider, only the Investment Segment will be annuitized. Once Installments under the GLWB Rider have begun, the Income Segment cannot be annuitized.

If you have not elected a payout option within 30 days of the Annuity Commencement Date, your Investment Segment Account Value will be paid out as a variable life annuity with a guaranteed period of 15 years.

The amount to be paid out will be based on the Investment Segment Account Value or Annuity Account Value, if applicable, on the Annuity Commencement Date. The minimum amount that may be withdrawn from the Investment Segment Account Value to purchase an annuity payout option is $2,000. If your Investment Segment Account Value is less than $2,000, we may pay the amount in a single sum subject to the Contract provisions applicable to a partial withdrawal.

If you choose to receive variable annuity payouts from your Contract, you may select from the following payout options:

Variable life annuity with guaranteed period—This option provides for payouts during a guaranteed period or for the lifetime of the Annuitant, whichever is longer. The guaranteed period may be 5, 10 or 15 years. Upon the death of the Annuitant, the Beneficiary will receive the remaining payouts at the same interval elected by the Owner.

Variable life annuity without guaranteed period—This option provides payouts during the lifetime of the Annuitant. The annuity terminates with the last payout due prior to the death of the Annuitant. Because no minimum number of payouts is guaranteed, this option may offer the maximum level of payouts. It is possible that only one payout may be made if the Annuitant dies before the date on which the second payout is due. If the Annuitant who is also the Owner dies before the Annuity Commencement Date, the Death Benefit will be payable to the Beneficiary. If the Owner is living and the Annuitant dies before the Annuity Commencement Date, the Owner will become the Annuitant, the Contract will continue, and no Death Benefit will be payable.

Any other form of variable annuity payout that is acceptable to Great-West.

Under an annuity payout option, you can receive payouts monthly, quarterly, semi-annually or annually in payments which must be at least $50. We reserve the right to make payouts using the most frequent payout interval which produces a payout of at least $50. Once annuity payouts commence, you cannot make Contributions or take withdrawals, other than your annuity payouts, but you may continue to Transfer among and between Sub-Accounts.

If you elect to receive a single sum payment, the amount paid is the Surrender Value.

Amount of First Variable Payout

The first payout under a variable annuity payout option will be based on the value of the amounts held in the Investment Segment Sub-Accounts or Annuity Account, if applicable, you have selected on the first valuation date preceding the Annuity Commencement Date. We determine the first payout under a variable annuity option by applying the appropriate rate to the amount applied under the payout option. The rate applied reflects an assumed investment return (“AIR”) of 2.5%.

For annuity options involving life income, the actual age, year in which annuitization commences and gender of the Annuitant will affect the amount of each payout. We reserve the right to ask for satisfactory proof of the Annuitant’s age. We may delay annuity payouts until satisfactory proof is received. Because payouts to older Annuitants are expected to be fewer in number, the amount of each annuity payout under a selected annuity form will be greater for older Annuitants than for younger Annuitants.

If the age of the Annuitant has been misstated, the payouts established will be made on the basis of the correct age. If payouts were too large because of misstatement, we may deduct the difference with interest us from the next payout or payouts. If payouts were too small, we may add the difference with interest to the next payout. The interest rate used will be 3%.

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If the Owner dies before the Annuity Commencement Date (i.e., the day the first variable annuity payout is made) and if there is a Joint Owner who is a surviving Spouse of the deceased Owner, the Joint Owner becomes the Owner and Beneficiary. The Joint Owner may elect to take the Death Benefit or continue the contract in force. In all other cases, we will pay the Death Benefit to the Beneficiary.

If the Owner who is not the Annuitant dies after the Annuity Commencement Date, any benefit payable will continue to be distributed to the Annuitant on the same schedule as under the payout option applicable on the Owner’s date of death. All rights granted the Owner under the Contract will pass to any surviving Joint Owner, and if none, to the Annuitant.

If the Owner who is the Annuitant dies after the Annuity Commencement Date, any benefit payable will be distributed to the Beneficiary if a guarantee period was part of the selected annuity option. If there was no guarantee period elected, payments will cease.

For complete descriptions, see the Distribution of Death Benefit section above.

Annuity Units

We determine the number of Annuity Units paid for each Sub-Account by dividing the amount of the first payout by its Annuity Unit value on the first valuation date preceding the Annuity Commencement Date. The number of Annuity Units used to calculate each payout for a Sub-Account remains fixed during the Annuity Payout Period.

Amount of Variable Payouts After the First Payout

Payouts after the first will vary depending upon the investment performance of the Investment Segment Sub-Accounts or Annuity Account, if applicable. Your payouts will increase in amount over time if the Sub-Accounts you select earn more than the 2.5% AIR. Likewise, your payouts will decrease over time if the Sub-Accounts you select earn less than the 2.5% AIR. We determine the subsequent amount paid from each Sub-Account by comparing the actual performance of the Sub-Account to the AIR.

Transfers After the Variable Annuity Commencement Date

Once annuity payouts have begun, Transfers may be made within the variable annuity payout option among the available Investment Segment Sub-Accounts. Transfers after the Annuity Commencement Date will be made by converting the number of Annuity Units being Transferred to the number of Annuity Units of the Investment Segment Sub-Account to which the Transfer is made. The result will be that the next annuity payout, if it were made at that time, would be the same amount that it would have been without the Transfer. Thereafter, annuity payouts will reflect changes in the value of the new Annuity Units.

Other Restrictions (Investment Segment Only)

Once payouts start from the Investment Segment under the annuity payout option you select:

• no changes can be made in the payout option;

• no additional Contributions to the Investment Segment will be accepted under the Contract; and

• no further withdrawals, other than withdrawals made to provide annuity benefits or satisfy the terms of the GLWB Rider, will be allowed.

A portion or the entire amount of the annuity payouts may be taxable as ordinary income. If on the Annuity Commencement Date we have not received a proper written election not to have federal income taxes withheld, we must by law withhold such taxes from the taxable portion of such annuity payouts and remit that amount to the federal government. State income tax withholding may also apply. Please see “Federal Tax Matters” below.

Guaranteed Lifetime Withdrawal Benefit

On any business day prior to your 86th birthday, you have the option of electing the GLWB rider by either allocating Contributions to one or more Covered Funds in the Income Segment at your direction, or by Transferring all or part of your Investment Segment Account Value to one or more Covered Funds in the Income Segment at your direction. There is no minimum percent of Annuity Account Value or minimum dollar amount that must be allocated to the Income Segment when electing the GLWB Rider. You are under no obligation to elect the GLWB Rider. If you choose to elect the GLWB Rider, you may do so immediately upon Contract purchase (for example, if you are interested in locking in your Benefit Base early, if you prefer to begin taking guaranteed income soon, or if you are interested in the

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Contract primarily for the GLWB features rather than in the Investment Segment Sub-Account options), or you may wait to elect the GLWB Rider at a later time. If you exercise this option, the GLWB Rider will provide you with a Guaranteed Lifetime Withdrawal Benefit, provided all conditions, described below, are met.

For applications signed before May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Covered Fund Value. For applications signed on or after May 1, 2017, the Contract offers a Guaranteed Lifetime Withdrawal Benefit Rider option which calculates the Guarantee Benefit Fee as a percentage of the Benefit Base. Provided all conditions are met, the GLWB Rider provides an annual withdrawal amount that is guaranteed for the lifetime of the Covered Person(s) according to a fixed schedule that varies the GAW% with the age of the Covered Person(s).

The GAW% and Joint GAW% applicable to you are disclosed in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract (and satisfied other terms described in this paragraph). In order to receive the disclosed GAW% or Joint GAW%, your application must be signed after the date stated in the Rate Sheet Supplement, your application must be received by us within 10 days of signing, and your initial Contribution must be received by us within 30 days of receipt of your application. If these terms are met, the disclosed rates will apply to your Contract and cannot be changed. Terms reflected in Rate Sheet Supplements that were not in effect at such time will not apply to your Contract. The terms of a Rate Sheet Supplement (including the GAW%s and Joint GAW%s) with no specified end date may not be amended unless we provide a minimum of 10 business days prior notice.

The current and any proposed Rate Sheet Supplements may be found on the SEC’s website (www.sec.gov) by searching with File Number 333-194044. You may contact us at the Retirement Resource Operations Center for a Rate Sheet Supplement applicable to your Contract. As available, historical GAW%s and Joint GAW%s reflected in Rate Sheet Supplements may be found in the Appendix to this Prospectus entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements”, as well as on the SEC’s website (www.sec.gov) by searching with File Number 333-194044.

All guarantees are subject to the claims paying ability of Great-West.

GLWB Accumulation Phase

The GLWB Accumulation Phase begins when you make a GLWB election by investing in any Covered Funds in the Income Segment. The GLWB Accumulation Phase ends when you elect to begin taking GAWs. During the Accumulation Phase, a Benefit Base will be established which will be used later to determine, in part, the amount of your GAWs. You may elect the GLWB by allocating Contributions or Transferring Investment Segment Account Value to the Covered Funds on any Business Day as long as you are younger than age 86 on the GLWB Rider Election Date. We will record the GLWB Rider Election Date.

Guarantee Benefit Fee

The annual Guarantee Benefit Fee is assessed quarterly, in arrears, during the GLWB Accumulation Phase and GAW Phase. One-fourth of the Guarantee Benefit Fee is deducted quarterly from your Covered Fund Value no later than the 10th Business Day of the month following the calendar quarter end by means of the cancellation of Accumulation Units. The Guarantee Benefit Fee will be calculated based on your Covered Fund Value (for applications signed before May 1, 2017) or the Benefit Base (for applications signed on or after May 1, 2017), subject to the Benefit Base cap, as of the date of the deduction. The Benefit Base may or may not equal the Covered Fund Value at the time the Guarantee Benefit Fee is calculated. The Benefit Base will always be greater than or equal to the Covered Fund Value when the Guarantee Benefit Fee is calculated on a Ratchet Date. We reserve the right to change the frequency of the deduction upon sixty (60) days prior written notice. The Guarantee Benefit Fee will not be assessed during the GLWB Settlement Phase.

The first Guarantee Benefit Fee you pay will be pro-rated based on the portion of the quarter in which you allocated Contributions to the Covered Funds. The current Guarantee Benefit Fee is 1.00% of the Covered Fund Value (for applications signed before May 1, 2017) or 0.90% of the Benefit Base (for applications signed on or after May 1, 2017) held in the Income Segment. We reserve the right to change the frequency and amount of the Guarantee Benefit Fee upon sixty (60) days prior written notice to you. However, the Guarantee Benefit Fee will never be less than 0.70% or greater than 1.50% of your Income Segment Covered Fund Value (for applications signed before May 1, 2017) or less than 0.00% or greater than 1.50% of your Benefit Base (for applications signed on or after May 1, 2017). We determine the Guarantee Benefit Fee based on observations of a number of long-term experience factors, including, but not limited to, investment income, expense, mortality, morbidity and persistency. As an example, if mortality experience improves faster than we have anticipated, and the population in general is expected to live longer than initially projected, we might increase the Guarantee Benefit Fee to reflect our increased probability of paying longevity benefits. However, improvements in mortality experience is provided as an example only. We will never increase the fee above the maximum or decrease the fee below the minimum disclosed in the Fee Tables at the beginning of this Prospectus.

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You may reject an increase to the Guarantee Benefit Fee by providing a prior written notice to us requesting to withdraw or transfer the entire Covered Fund Value, thereby reducing the Benefit Base to zero and terminating the Rider. If you do not expressly reject an increase to the Guarantee Benefit Fee, the new fee will apply as of the date stated in the notice and you will retain all current features and benefits of the Rider, including continued access to all available Covered Fund(s). Any election to reject the increased Guarantee Benefit Fee will be deemed an election to terminate the Rider, which election shall be irrevocable.

Unless otherwise stated, any change to the fee will affect all assets in the Covered Funds in the Income Segment.

If you terminate the GLWB Rider, a final pro-rated Guarantee Benefit Fee will be deducted based on the portion of the last quarter that the GLWB Rider was in effect.

The Covered Funds

The GLWB Rider provides protection relating to your Covered Funds by ensuring that, regardless of how your Covered Funds actually perform or the actual Covered Fund Value when you begin your GAWs for retirement or other purposes, you will receive predictable income payments for as long as you live so long as specified conditions are met.

The Covered Funds may be managed in a more conservative fashion than other Portfolios available to you, which may reduce overall volatility in investment performance, may reduce investment returns and may reduce the likelihood that we will be required to make payments under the GLWB Rider. The reduction in volatility permits us to more effectively provide the guarantees under the Rider. If you do not purchase the GLWB Rider, it is possible that you may invest in other Portfolios that experience higher growth or lower losses, depending on the market, than the Covered Funds’ experience. It is impossible to know how various investments will fare on a comparative basis.

We may, with the approval of the New York Department of Financial Services, but without your consent, offer new Covered Funds or cease offering Covered Funds. We may make such a change due to a fund reorganization, fund substitution, to help protect our ability to provide the guarantees under the GLWB Rider, or otherwise. If such a change is required, we will notify you in writing prior to the effective date of such change (generally 90 calendar days unless we are required to give less notice) to allow you to reallocate your Covered Fund Value to maintain your GLWB Rider benefits. If a Covered Fund is closed, you will maintain your Benefit Base in that Covered Fund and all rights under the Rider unless and until you Transfer assets out of the Covered Fund or terminate your Contract, in which case your GLWB Rider will terminate. If you are if investing via an Automatic Bank Draft Plan to the closing Covered Fund or utilizing an automatic custom transfer feature such as dollar cost averaging involving the closing Covered Fund, you should contact an annuity account representative to make alternate arrangements. Also, see the sections “Addition, Deletion or Substitution of Sub-Accounts” and “Dollar Cost Averaging,” below.

Covered Fund Value

Your Covered Fund Value is the aggregate value of each Covered Fund. Your Covered Fund Value may increase with positive market performance or by Contributions to the Income Segment. Your Covered Fund Value may decrease with negative market performance, deduction of the Guarantee Benefit Fee or by taking an Excess Withdrawal or Guaranteed Annual Withdrawals. Your Guarantee Benefit Fee will be calculated based on your Covered Fund Value (for applications signed before May 1, 2017) or your Benefit Base (for applications signed on or after May 1, 2017) as of the date the fee is deducted each quarter.

The Benefit Base

The Benefit Base is separate from your Covered Fund Value. It is not a cash value. Rather, your Benefit Base is used to calculate your GAW during the GAW Phase and the Settlement Phase. Your Benefit Base and your Covered Fund Value may not be equal to one another. Although your Benefit Base is related to your Covered Fund Value in that your Benefit Base will be ratcheted up if the Covered Fund Value is greater than your Benefit Base on the Ratchet Date, at all other times during the year your Covered Fund Value may be higher or lower than the Benefit Base depending on market performance and other factors impacting the Covered Funds. Your Initial Benefit Base is the sum of all GLWB Rider Contributions initially allocated to the Covered Funds in the Income Segment on the GLWB Rider Election Date.

• We increase your Benefit Base on a dollar-for-dollar basis each time you make a GLWB Rider Contribution to a Covered Fund.

• We decrease your Benefit Base on a proportionate basis each time you make an Excess Withdrawal.

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• On each Ratchet Date during the GLWB Accumulation Phase and the GAW Phase, we will increase your Benefit Base to equal your current Covered Fund Value if your Covered Fund Value is greater than your Benefit Base. (If so, your Benefit Base will then reflect positive Covered Fund performance.)

• On each Ratchet Date during the GAW Phase, we will adjust your Benefit Base to equal your current Covered Fund Value if an age reset calculation results in a higher GAW amount (see “Reset of the GAW% During the GAW Phase,” below).

A few things to keep in mind regarding the Benefit Base:

• The Benefit Base is used only for purposes of calculating the Guarantee Benefit Fee, and calculating your Installment Payments during the GAW Phase and the GLWB Settlement Phase. It has no other purpose. The Benefit Base does not provide and is not available as a cash value or settlement value.

• It is important that you do not confuse your Benefit Base with the Covered Fund Value.

• During the GLWB Accumulation Phase and the GAW Phase, the Benefit Base will be re-calculated on an annual basis, as described below, and each time you make a GLWB Rider Contribution or take an Excess Withdrawal.

In the event that Great-West requires a Transfer from a Covered Fund as a result of such Covered Fund being eliminated or liquidated, your Benefit Base will be preserved and your Covered Fund Value will be Transferred to a replacement Covered Fund.

Subsequent Contributions to Your Covered Funds

During the GLWB Accumulation Phase and the GAW Phase, you may make additional GLWB Rider Contributions to the Covered Funds in addition to your initial GLWB Rider Contribution. Any subsequent GLWB Rider Contribution is subject to any minimum investment or Transfer requirements imposed by the Contract. Please see each Covered Fund prospectus for more information.

All additional GLWB Rider Contributions made after the GLWB Rider Election Date will increase the Benefit Base dollar-for-dollar on the date the GLWB Rider Contribution is made. Although a GLWB Rider Contribution will increase your Benefit Base, it will not automatically reset your Installment amount. Contact our office if you would like to increase Installments to your maximum allowed. We will not consider the additional purchase of shares of a Covered Fund through reinvested dividends, capital gains, and/or settlements to be a GLWB Rider Contribution. However, they will increase the Covered Fund Value.

We reserve the right to reject additional GLWB Rider Contributions at any time for certain reasons (see Rights Reserved by Great-West, below). Great-West will provide you with 30 days prior written notice if it determines not to accept additional GLWB Rider Contributions. If Great-West refuses additional GLWB Rider Contributions, you will retain all other rights under the GLWB Rider.

Annual Adjustments to Your Benefit Base

During the Accumulation Phase, a Ratchet Date is the anniversary of the Owner’s GLWB Rider Election Date and each anniversary thereafter. On each Ratchet Date, we will evaluate your Benefit Base, and will adjust your Benefit Base to equal the greater of:

• your current Benefit Base; or

• your current Covered Fund Value.

It is important to be aware that even though your Covered Fund Value may increase throughout the year due to capital appreciation, the Benefit Base will not similarly increase until the next Ratchet Date. Unlike Covered Fund Value, your Benefit Base will never decrease solely due to negative Covered Fund performance.

It is important to note that annual adjustments to your Benefit Base will not impact your Covered Fund Value. Your Covered Fund Value can only increase or decrease as described above.

Benefit Base Cap

The Benefit Base may not exceed $5 million. Any Covered Fund Value over $5 million will be considered excess Covered Fund Value and will not be used to calculate GAWs. An Owner may Transfer or Distribute any excess Covered Fund Value on a dollar for dollar basis without reducing the Benefit Base and such transfers will not be considered an Excess Withdrawal. However, if the Covered Fund Value falls below $5 million due to an Excess Withdrawal, the Benefit Base will be adjusted as described below.

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Excess Withdrawals

The Benefit Base may be adjusted as a result of Excess Withdrawals. During the GLWB Accumulation Phase, except as described above with respect to the Benefit Base Cap, any withdrawals or Transfers from your Covered Fund Value will be categorized as Excess Withdrawals. This may include Transfers from the Income Segment Covered Funds to any Investment Segment Portfolio. The Contract currently offers four Covered Funds. Great-West may make additional or fewer Covered Funds available to Contract Owners in the future.

You may make withdrawals or change your investments at any time and in any amount that you wish, subject to any federal tax limitations. Additionally, any withdrawals to satisfy your required minimum distribution obligations under the Code (Qualified Annuity Contract Owners only) will be considered an Excess Withdrawal if taken during the GLWB Accumulation Phase.

You should carefully consider the effect of an Excess Withdrawal on both the Benefit Base and the Covered Fund Value during the GLWB Accumulation Phase, as this may affect your future benefits under the GLWB Rider. You are solely responsible for any adverse consequences that may result from any Distributions or withdrawals. You should consult with a financial advisor prior to taking a Distribution or making a withdrawal. In the event you decide to take an Excess Withdrawal, as discussed below, your Covered Fund Value will be adjusted dollar-for-dollar in the amount of the Excess Withdrawal. The Benefit Base will be adjusted at the time the Excess Withdrawal is made by the ratio of the Covered Fund Value immediately after the Excess Withdrawal to the Covered Fund Value immediately before the Excess Withdrawal. Accordingly, your Benefit Base could be reduced by more than the amount of the withdrawal.

Types of Excess Withdrawals

A Distribution (when an amount is paid to you out of your Covered Fund Value) or Transfer (the movement of money from a Covered Fund to any other Sub-Account) during the GLWB Accumulation Phase is considered an Excess Withdrawal. An Excess Withdrawal will reduce your Benefit Base and Covered Fund Value. If you Transfer any amount out of the GLWB Rider, then you will be prohibited from making any Transfers into the GLWB Rider for at least ninety (90) calendar days.

Numerical Example

Excess Withdrawals during the GLWB Accumulation Phase are illustrated as follows:

Covered Fund Value before the Excess Withdrawal adjustment = $50,000

Benefit Base = $100,000

Excess Withdrawal amount: $10,000

Covered Fund Value after adjustment= $50,000 - $10,000 = $40,000

Covered Fund Value adjustment = $40,000/$50,000 = 0.80

Adjusted Benefit Base = $100,000 x 0.80 = $80,000

Fees Associated with the Covered Funds

Neither the Guarantee Benefit Fee nor the M&E Charge shall be treated as an Excess Withdrawal.

Treatment of a Distribution During the GLWB Accumulation Phase

At the time of any partial or periodic Distribution, if the Covered Person is 59 ¹⁄2 years of age or older, you may elect to begin the GAW Phase (as described below) and begin receiving GAWs at that time. If you choose not to begin the GAW Phase, the Distribution will be treated as an Excess Withdrawal and will reduce your Covered Fund Value and your Benefit Base (as described above).

If the Covered Person is not yet 59 ¹⁄2 years old, then any partial or periodic Distribution will be treated as an Excess Withdrawal as described above.

Any Distribution made during the Accumulation Phase to satisfy any contribution limitation imposed under federal law will be considered an Excess Withdrawal at all times. You should consult a qualified tax advisor regarding contribution limits and other tax implications.

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Death During the GLWB Accumulation Phase

If an Owner dies before the Initial Installment Date, the GLWB will terminate and the Covered Fund Value shall be paid to the Beneficiary in accordance with the terms of the Contract (unless a Spouse Beneficiary makes an election to continue the Contract as provided in this section).

If a Spouse Beneficiary who was legally married to the deceased Owner under applicable law as of the date of death becomes the sole Owner and Beneficiary under the terms of the Contract, the Spouse Beneficiary may continue the Contract and maintain the deceased Owner’s current Benefit Base as of the date of death. In this case, the Ratchet Date will continue to be the same date as it was under the deceased Owner. A Spouse Beneficiary also has the option to establish a new GLWB Rider Election Date with a new Benefit Base based on the current Covered Fund Value. In this case, the Ratchet Date will be the anniversary of the new GLWB Rider Election Date. In either situation, the Spouse Beneficiary shall become the sole Owner. The new Owner will be subject to all terms and conditions of the GLWB Rider, Contract and the Code, if applicable. Any election made by a Spouse Beneficiary pursuant to this section is irrevocable.

A non-Spouse Beneficiary cannot elect to maintain the Benefit Base. Upon the death of the Owner, the deceased Owner’s Covered Fund Value will be liquidated and will be transferred into the Schwab Government Money Market Sub-Account, or any other fund as approved by Great-West and distributed to the non-Spouse Beneficiary.

When the Contract is owned by a Non-Grantor Trust, upon the death of the Annuitant, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account, and the Death Benefit payable under the Contract will be paid. If either Joint Annuitant dies, the GLWB will continue with the remaining single Annuitant in accordance with the death distribution rules under the Code unless the Owner elects to receive the Death Benefit.

If the Owner has elected a Restricted Beneficiary Payout Option and a Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account, and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

GAW Phase

The GAW Phase begins when you elect to receive GAWs under the GLWB Rider. The GAW Phase continues until the Covered Fund Value reaches zero and the GLWB Settlement Phase begins. The GAW Phase cannot begin until all Covered Persons attain age 59 ¹⁄2.

To initiate the GAW Phase, you must submit a written Request to Great-West. At that time, you must provide sufficient documentation in good order and in a manner reasonably satisfactory to Great-West for Great-West to determine the age of each Covered Person. You may also begin the GAW Phase by initiating a Distribution while you are in the GLWB Accumulation Phase and the Covered Person(s) is 59 ¹⁄2 years of age or older. At that time, you may elect to begin receiving Installments and establish your GAW%. If you choose not to initiate the GAW Phase, the Distribution will be treated as an Excess Withdrawal and the GAW Phase will not begin. If the Covered Person(s) is not yet 59 ¹⁄2 years old, then any partial or periodic Distribution will be treated as an Excess Withdrawal and the GAW Phase will not begin. In these situations, the Benefit Base will be adjusted by the ratio of the Covered Fund Value after the Excess Withdrawal to the previous Covered Fund Value.

Because the GAW Phase cannot begin until all Covered Persons under the GLWB Rider attain age 59 ¹⁄2, any Distributions taken before then will be considered Excess Withdrawals and will be deducted from the Covered Fund Value and Benefit Base. See “GLWB Accumulation Phase” above. If the Annuity Account is not held jointly, the Owner’s Spouse must be the sole Beneficiary. Installments will not begin until such change is made.

Because of decreasing life expectancy as you age, in certain circumstances, the longer you wait to start taking GAWs, the less likely it is that you will benefit from your GLWB Rider. On the other hand, the earlier you begin taking GAWs, the lower the GAW Percentage you will receive and therefore the lower your GAWs (if any) will be. You should talk to your tax advisor before initiating the GAW Phase to determine the most financially beneficial time for you to begin taking GAWs.

Calculation of Guaranteed Annual Withdrawals

It is important that you understand how the GAW is calculated because it will affect the benefits you receive under the GLWB Rider. Once you initiate the GAW Phase by submitting a Request to begin receiving GAW payments, we will verify the age of the Covered Person(s) and then determine the amount of the GAW.

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To determine the amount of the GAW, we will compare the current Benefit Base to the current Covered Fund Value on the Initial Installment Date. If the Covered Fund Value is greater than the Benefit Base, we will increase the Benefit Base to equal the Covered Fund Value, and the GAW will be based on the increased Benefit Base amount.

During the GAW Phase, your Benefit Base may receive an annual adjustment. This adjustment is discussed below, and, if applicable, will occur on your Ratchet Date. Your Ratchet Date will become the anniversary of the Initial Installment Date and will no longer be the anniversary of the GLWB Rider Election Date as it was during the GLWB Accumulation Phase.

We use your Benefit Base to calculate the GAW you receive. However, even though the Benefit Base may be adjusted annually, your GAW% will not change unless there is a Reset of the GAW%. See “Reset of the GAW% During the GAW Phase” below.

To calculate the GAW for applications signed on or after May 1, 2019, on the Initial Installment Date we multiply the Benefit Base by the GAW% contained in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract. For Contracts signed before May 1, 2019, see the Appendix to this Prospectus entitled “Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements”. Unless otherwise requested, the amount of the initial Installment equals the GAW divided by the number of payments per year under the Installment Frequency Option you have chosen. We may allow Installments that annually total less than the GAW.

It is important to note that Installments during the GAW Phase will reduce your Covered Fund Value on a dollar-for-dollar basis, but they will not reduce your Benefit Base.

Calculation of GAW Amount

The GAW% is based on the age of the Covered Person(s) as of the date we calculate the first Installment. If there are two Covered Persons, the GAW% is based on the age of the younger Covered Person.

Examples are set forth below. If you would like more information on your GAW% or Joint GAW%, or for a copy of the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract, please contact our Retirement Resource Operations Center.

Numerical Examples of the Guaranteed Annual Withdrawal

(GAW% and Joint GAW% rates used in these examples are for illustration purposes only. The rates applicable to you are disclosed in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract.)

Scenario #1: 66 Year Old Single Covered Person

Benefit Base = $80,000

Single GAW% = 5.00%

GAW = $4,000 ($80,000 x 5.00%)

Scenario #2: 68 Year Old Joint Covered Person with a 63 Year Old Spouse

Benefit Base = $80,000

Joint GAW% = 3.50% (for 63 year old)

GAW = $2,800 ($80,000 x 3.50%)

Scenario #3: 60 Year Old Single Covered Person

Benefit Base = $80,000

Single GAW% = 4.00%

GAW = $3,200 ($80,000 x 4.00%)

Scenario #4: 71 Year Old Joint Covered Person with a 65 Year Old Spouse

Benefit Base = $80,000

Joint GAW% = 4.50% (for a 65 year old)

GAW = $3,600 ($80,000 x 4.50%)

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Any election which affects the calculation of the GAW is irrevocable. Please consider all relevant factors when making an election to begin the GAW Phase. For example, an election to begin receiving Installments based on a sole Covered Person cannot subsequently be changed to Joint Covered Persons once the GAW Phase has begun. Similarly, an election to receive Installments based on Joint Covered Persons cannot subsequently be changed to a sole Covered Person. Installments will reduce the Covered Fund Value on a dollar-for-dollar basis.

Installment Frequency Options

Your Installment Frequency Options are as follows:

(a)	Annual – the GAW will be paid on the Initial Installment Date and each anniversary annually, or next business day, thereafter.
(b)	Semi-Annual – half of the GAW will be paid on the Initial Installment Date and in Installments every 6 month anniversary, or next business day, thereafter.
(c)	Quarterly – one quarter of the GAW will be paid on the Initial Installment Date and in Installments every 3 month anniversary, or next business day, thereafter.
(d)	Monthly – one-twelfth of the GAW will be paid on the Initial Installment Date and in Installments every monthly anniversary, or next business day, thereafter.

You may request to change the Installment Frequency Option starting on each Ratchet Date during the GAW Phase.

Great-West may allow Installments that in total over the year are less than the GAW. If the total GAW amount is not taken as Installments, the amount not taken does not increase future GAW amounts.

Lump Sum Distribution Option

At any time during the GAW Phase, if you are receiving Installments more frequently than annually, you may elect to take a lump sum Distribution up to the remaining scheduled amount of the GAW for that year.

Numerical Example of Lump Sum Distribution

Assume the following:

GAW = $4,800 with a monthly distribution of $400

Three monthly Installments have been made (3 x $400 = $1,200)

Remaining GAW = GAW – paid Installments to date = $4,800 - $1,200 = $3,600

So, a Lump Sum Distribution of $3,600 may be taken.

Suspending and Re-Commencing Installments After a Lump Sum Distribution

It is your responsibility to Request the suspension of the remaining Installments that are scheduled to be paid during the year until the next Ratchet Date. If you choose not to suspend the remaining Installments for the year, an Excess Withdrawal may occur. See “Effect of Excess Withdrawals During the GAW Phase” below.

After receiving a Lump Sum Distribution and suspending Installments, you must notify Great-West that you wish to recommence Installment payments for the next year. Great-West must receive notice 30 calendar days before the next Ratchet Date that you wish to recommence payments; otherwise, Great-West will not make any Installments. The Ratchet Date will not change if Installments are suspended.

You are solely responsible for any adverse consequences that may result from any Distributions or withdrawals. You should consult with a financial advisor prior to making any withdrawals.

Ratchet to Benefit Base During the GAW Phase

Once a year, on your Ratchet Date, we will review your GAW and may make an adjustment by increasing your GAW amount. This adjustment, if applicable, will be made by a Ratchet. Just like the Accumulation Phase, we will compare the Covered Fund Value to determine if it exceeds the Benefit Base. If so, we will adjust the Benefit Base to equal the Covered Fund Value.

On each Ratchet Date, the Benefit Base automatically adjusts to the greater of:

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(a)	the current Benefit Base; or
(b)	the current Covered Fund Value.

GAWs will adjust annually on the Ratchet Date based on the new Benefit Base. This information will be reflected in your quarterly statement and online.

Installments will not change unless Requested by the Owner. You may Request to change your Installments at the time you elect your GLWB Rider by providing standing instructions to maximize your Installments, or at any time before your next Ratchet Date by contacting the Retirement Resource Operations Center.

Reset of the GAW% During the GAW Phase

Annually, Great-West shall multiply the Covered Fund Value, subject to the Benefit Base Cap, as of the Ratchet Date by the Attained Age GAW% (based on your or the younger Joint Covered Person’s Attained Age on the Ratchet Date) and determine if it is higher than the current Benefit Base multiplied by the current GAW%. Great-West will then provide the Owner with the result of this calculation. This information will be reflected in your quarterly statement and online.

Installments will not change unless Requested by the Owner. You may Request to change your Installments at the time you elect your GLWB Rider by providing standing instructions to maximize your Installments, or at any time before your next Ratchet Date by contacting the Retirement Resource Operations Center.

If beneficial, the current GAW% will change to the Attained Age GAW% and the Benefit Base will change to the current Covered Fund Value as of the Ratchet Date. If the Reset takes effect, it will be effective on the Ratchet Date as the Ratchet Date does not change due to Reset.

Example:

If (Attained Age GAW%) x (Covered Fund Value as of Ratchet Date)

is greater than (Current GAW%) x (Current Benefit Base)

then (Attained Age GAW%) x (Covered Fund Value as of Ratchet Date) becomes new GAW

and (Covered Fund Value) = (New Benefit Base)

Numerical Example When Reset is Beneficial:

Age at Initial Installment Date = 60

Attained Age = 70

Covered Fund Value = $120,000

Current Benefit Base = $125,000

Current GAW% before Ratchet Date = 4%

Attained Age GAW% after Ratchet Date = 5.5%

  
(Current GAW%) x (Current Benefit Base) = 4% x $125,000 = $5,000

(Attained Age GAW%) x (Covered Fund Value) = 5.5% x $120,000 = $6,600

  
So New GAW is $6,600
New Benefit Base is $120,000
New GAW% of 5.5% will take effect.

Numerical Example When Reset is NOT Beneficial:

Age at Initial Installment Date = 60

Attained Age = 70

Covered Fund Value = $75,000

Current Benefit Base = $125,000

Current GAW% before Ratchet = 4%

Attained Age GAW% after Ratchet Date = 5.5%

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(Current GAW%) x (Current Benefit Base) = 4% x $125,000 = $5,000

(Attained age withdrawal %) x (Covered Fund Value) = 5.5% x $75,000 = $4,125

  
So Because $4,125 is less than current GAW of $5,000, no Reset of the GAW% will take effect.

Additional GLWB Rider Contributions During the GAW Phase

Additional GLWB Rider Contributions made after the Initial Installment Date will increase the Benefit Base dollar-for-dollar on the date the GLWB Rider Contribution is made and will increase the GAW amount for the current year.

To calculate the new GAW amount, we multiply the new Benefit Base by the current GAW%.

Installments will not change unless Requested by the Owner. You may Request to change your Installments at the time you elect your GLWB Rider by providing standing instructions to maximize your Installments, or at any time before your next Ratchet Date by contacting the Retirement Resource Operations Center.

Payments on Death During GAW Phase

If an Owner Dies After the Initial Installment Date as a Single Covered Person for Non-Qualified Annuity Contracts

If an Owner dies after the Initial Installment Date without a second Covered Person, the GLWB will terminate and no further Installments will be paid. If the death occurs before the GLWB Settlement Phase, the remaining Covered Fund Value will be liquidated and will be transferred into the Schwab Government Money Market Portfolio Sub-Account, and distributed to the Beneficiary. If permitted by the Contract and the Code, if applicable, the Beneficiary may elect to have a new Contract issued with the Beneficiary as the sole Owner and Covered Person, in which event an initial Benefit Base shall be established and he or she will be subject to all terms and conditions of the Contract and the Code, if applicable. Any election made by the Beneficiary is irrevocable.

If the Owner has elected a Restricted Beneficiary Payout Option, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

If an Owner Dies After the Initial Installment Date while Second Covered Person is Living for Non-Qualified Annuity Contracts

Upon the death of an Owner after the Initial Installment Date, and while a second Covered Person who was legally married to the deceased Owner under applicable state law on the date of death is still living, the surviving Covered Person will become the sole Owner and Beneficiary (if permitted by the terms of the Contract and the Code, if applicable), and he or she will acquire all rights under the Contract and will continue to receive GAWs based on the deceased Owner’s election. Installments may continue to be paid to the surviving Covered Person based on the GAW% for Joint Covered Persons. Installments will continue to be paid to the surviving Covered Person until his or her death and, upon death, the surviving Covered Person’s Beneficiary will receive any remaining Covered Fund Value if such death occurs before the GLWB Settlement Phase. Alternatively, the surviving Covered Person may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution. In either situation the Ratchet Date will be the date when the Annuity Account is established.

For Contracts owned by Non-Grantor Trusts, Installments will continue to be paid to the surviving Covered Person in accordance with permissible distributions under the Code and other applicable state and federal laws, rules and regulations governing such benefit payments. Alternatively, the surviving Covered Person may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution. The Ratchet Date will be the date when the Annuity Account is established.

If the Owner has elected a Restricted Beneficiary Payout Option and the Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

If the surviving Covered Person/Beneficiary becomes the sole Owner, then he or she will be subject to all terms and conditions of the Contract, the GLWB Rider and the Code, if applicable.

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Any election made by the Beneficiary pursuant to this section is irrevocable.

If the Owner Dies After the Initial Installment Date as a Single Covered Person for Qualified Annuity Contracts

If the Owner dies after the Initial Installment Date without a second Covered Person, the GLWB will terminate and no further Installments will be paid. If the death occurs before the GLWB Settlement Phase, the remaining Covered Fund Value shall be distributed to the Beneficiary in accordance with the terms of the Contract. If permitted by the Contract and the Code, the Owner’s Beneficiary may elect to continue the Contract in which event an initial Benefit Base shall be established and he or she will be subject to all terms and conditions of the GLWB Rider and the Code. Any election made by the Beneficiary is irrevocable.

If the Owner has elected a Restricted Beneficiary Payout Option and the Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

If the Owner Dies After the Initial Installment Date while Second Covered Person is Living for Qualified Annuity Contracts

Upon the death of an Owner after the Initial Installment Date, and while the second Covered Person is still living, the second Covered Person/Beneficiary may elect to become an Owner (if permitted by the Contract and the Code) and he or she will acquire all rights under the GLWB Rider and continue to receive GAWs based on the original Owner’s election. Installments may continue to be paid to the surviving Covered Person based on the GAW% for Joint Covered Persons. Installments will continue to be paid to the surviving Covered Person until his or her death and, upon death, the surviving Covered Person’s Beneficiary will receive any remaining Covered Fund Value. Alternatively, he or she may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to become an Owner. In either situation the Ratchet Date will be the date when the Account is established.

If the Owner has elected a Restricted Beneficiary Payout Option and the Beneficiary is not entitled to continue the Contract, the Covered Fund Value will be liquidated and transferred into the Schwab Government Money Market Sub-Account and then distributed to the Beneficiary according to the terms of the Restricted Beneficiary Payout Options elected. See “Restricted Beneficiary Payout Options” above for more information.

To the extent the Beneficiary becomes an Owner, he or she will be subject to all terms and conditions of the GLWB Rider and the Code.

Effect of Excess Withdrawals During the GAW Phase

After the Initial Installment Date, the portion of Distributions or Transfers that, combined with all other amounts, exceeds the GAW amount will be considered an Excess Withdrawal. The Benefit Base will be adjusted by the ratio of the new Covered Fund Value (after the Excess Withdrawal) to the previous Covered Fund Value (before the Excess Withdrawal). If an Excess Withdrawal occurs, the GAW and current Benefit Base will be adjusted on the next Ratchet Date.

If an Owner makes a Request for a Distribution or Transfer over the telephone, Great-West will advise the Owner whether such Distribution or Transfer will be considered an Excess Withdrawal and/or advise the maximum amount that he or she could receive prior to the Distribution or Transfer being considered an Excess Withdrawal. Alternatively, if an Owner makes a Request in writing, Great-West will advise the Owner that Excess Withdrawals could reduce future benefits by more than the dollar amount of the Excess Withdrawal and that the Owner may contact Great-West by telephone to determine whether, as of the date of the Request, the requested Distribution or Transfer would be considered an Excess Withdrawal. The actual dollar effect of such Distribution or Transfer will be determined as of the date that Great-West receives the Request, subject to the terms set forth in the written Request.

Numerical Example:

Covered Fund Value before GAW =	$55,500
Benefit Base =	$100,000
GAW % =	5.5%
GAW Amount =	$100,000 x 5.5% = $5,500

Total annual withdrawal: $10,500

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Excess Withdrawal =	$10,500 – $5,500 = $5,000
Covered Fund Value after GAW =	$55,500 – $5,500 = $50,000
Covered Fund Value after Excess Withdrawal =	$50,000 – $5,000 = $45,000
Adjustment due to Excess Withdrawal =	$45,000/$50,000 = 0.90
Adjusted Benefit Base =	$100,000 x 0.90 = $90,000
Adjusted GAW Amount =	$90,000 x 5.5% = $4,950
(Assuming no GAW increase on succeeding Ratchet Date)

GLWB Settlement Phase

The GLWB Settlement Phase begins when the Covered Fund Value has reduced to zero as a result of negative Covered Fund performance, payment of the Guarantee Benefit Fee, certain other fees (e.g., Mortality and Expense fees, advisory fees or asset management fees), and/or GAWs, but the Benefit Base is still positive.

When the GLWB Settlement Phase begins, if the remaining Covered Fund Value is less than the amount of the final Installment in the GAW Phase, Great-West will pay the remaining balance of the Installment within 7 days from the Installment Date. Installments continue for your life under the terms of the GLWB Rider, but all other rights and benefits under the GLWB Rider will terminate. Installments will continue in the same frequency as previously elected, and cannot be changed during the Settlement Phase. During the Settlement Phase, Installments from one anniversary to the next will equal the Guaranteed Annual Withdrawal Amount.

Distributions and Transfers are not permitted during the Settlement Phase.

During the Settlement Phase, the Guarantee Benefit Fee will not be deducted. When the last Covered Person dies during the Settlement Phase, the Rider will terminate and no Installments will be paid to the Beneficiary.

Divorce and the Income Segment

Divorce During the GLWB Accumulation Phase – Non-Qualified Annuity Contracts

If the Annuity Account is transferred or split pursuant to a settlement agreement or a court-issued divorce Decree before the Initial Installment Date, the Owner(s) must immediately notify us and provide a copy of the Decree and any other information that we may require.

If the former Spouse of the Owner becomes the sole Owner of the Annuity Account by a settlement agreement or a court-issued divorce Decree, the Owner may request that the Contract be reissued with the former Spouse as the sole Owner. If the Contract is so reissued, the current Benefit Base will be maintained.

If the Annuity Account is divided between the Owner and the Owner’s former Spouse by a settlement agreement or a court-issued divorce Decree, the Owner(s) may request that the current Contract will be maintained and a new Contract will be issued to the former Spouse, with the Owner and the former Spouse each being a Covered Person under his/her own Contract. If the Contract is reissued as one new Contract, the Benefit Base will be proportionate to the share of the Covered Fund Value allocated to the former Spouse as of the date of reissuance. If the Contract is reissued as two new Contracts, the Benefit Base will be divided in the same proportion as the respective Covered Fund Values as of the date of reissuance.

Divorce During the GLWB Accumulation Phase – Qualified Annuity Contracts

Pursuant to Section 408(d)(6) of the Code and the regulations thereunder, Great-West will make payment to the Alternate Payee and/or establish an Annuity Account on behalf of the Alternate Payee named in a Decree received during the GLWB Accumulation Phase. The Alternate Payee shall be responsible for submitting a Request to begin Distributions in accordance with the Code.

If the Alternate Payee named in the Decree is the Owner’s Spouse during the Accumulation Phase, he or she may elect to become an Owner, either by maintaining the current Benefit Base of the previous Owner, divided pursuant to the terms of the Decree, or establishing a new Benefit Base based on the current Covered Fund Value on the date his or her Annuity Account is established and he or she will

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continue as an Owner. If the Alternate Payee elects to maintain the current Benefit Base, the Benefit Base will be divided between the Owner and the Alternate Payee in the same proportion as their respective Covered Fund Values pursuant to the terms of the Decree In either situation, the Alternate Payee’s Election Date shall be the date the Annuity Account is established.

To the extent that the Alternate Payee becomes an Owner, she or he will be subject to all terms and conditions of the Contract.

Any election made by the Alternate Payee pursuant to this section is irrevocable.

Divorce During the GAW Phase – Non-Qualified Annuity Contracts

If the Annuity Account is transferred or split pursuant to a settlement agreement or a court-issued divorce Decree after the Initial Installment Date but before the GLWB Settlement Phase, the Owner(s) must immediately notify Great-West and provide the information that Great-West requires.

Pursuant to the agreement or decree, if there is a single Covered Person, the Benefit Base and GAW will be divided between the Spouses in the same proportion as each respective Spouses’s Covered Fund Values as of the effective date of the agreement or decree. The Owner may continue to receive proportional GAWs after the Annuity Accounts are split. The former Spouse may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to become and Owner and receive his or her proportional GAWs.

Pursuant to the agreement or decree, if there are two Covered Persons, the Benefit Base and GAW will be divided in the same proportion as each respective Spouse’s Covered Fund Values as of the effective date of the agreement or decree. The Owner may continue to receive the proportional GAWs after the Annuity Accounts are split, based on the amounts calculated pursuant to the Joint Covered Persons GAW%. The former Spouse may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to continue proportionate GAWs in the GAW Phase based on the amounts calculated pursuant to the Joint Covered Persons GAW% after the Annuity Accounts are split. A new Installment anniversary date will be established for the former Spouse on the date the Annuity Accounts are split.

In the alternative, the former Spouse may establish a new GLWB in the Accumulation Phase with the Benefit Base based on the current Covered Fund Value on the date his or her Annuity Account is established.

To the extent that the former Spouse becomes an Owner, he or she will be subject to all terms and conditions of the GLWB Rider and the Code.

Any election made by the former Spouse pursuant to this section is irrevocable.

Divorce During the GAW Phase – Qualified Annuity Contracts

Pursuant to Section 408(d)(6) of the Code and the regulations thereunder, Great-West will make payment to the Alternate Payee and/or establish an Annuity Account on behalf of the Alternate Payee named in a Decree approved during the GAW Phase. The Alternate Payee shall be responsible for submitting a Request to begin Distributions in accordance with the Code.

Pursuant to the instructions in the Decree, if there is a single Covered Person, the Benefit Base and GAW will be divided in the same proportion as each respective Spouse’s Covered Fund Values as of the effective date of the Decree. The Owner may continue to receive the proportional GAWs after the Annuity Accounts are split. If the Alternate Payee is the Owner’s Spouse, he or she may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to become an Owner.

Pursuant to the instructions in the Decree, if there are two Covered Persons, the Benefit Base and GAW will be divided in the same proportion as each respective Spouse’s Covered Fund Values as of the effective date of the Decree. The Owner may continue to receive the proportional GAWs after the Annuity Accounts are split, based on the amounts calculated pursuant to the Joint Covered Persons GAW%. If the Alternate Payee is the Owner’s Spouse, he or she may elect to receive his or her portion of the Covered Fund Value as a lump sum Distribution or can separately elect to continue proportionate GAWs in the GAW Phase based on the amounts calculated pursuant to the Joint Covered Persons GAW% after the Annuity Accounts are split. A new Installment anniversary date will be established for the Alternate Payee on the date the Annuity Accounts are split.

In the alternative, the Alternate Payee may establish a new GLWB in the Accumulation Phase with the Benefit Base based on the current Covered Fund Value on the date his or her Annuity Account is established.

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To the extent that the Alternate Payee becomes an Owner, he or she will be subject to all terms and conditions of the GLWB Rider and the Code.

Any election made by the Alternate Payee pursuant to this section is irrevocable.

Divorce During the GLWB Settlement Phase

If a Request is made in connection with a divorce, Great-West will divide the Installment pursuant to the terms of any settlement or divorce decree. Installments will continue pursuant to the lives of each payee.

Termination of the GLWB Rider

The GLWB Rider will terminate automatically upon the earliest of:

(a)	the date of death of the Owner if there is no surviving Covered Person;
(b)	the date of death of the Annuitant if there is no surviving Covered Person of a Contract held by a Non-Grantor Trust;
(c)	the date Death Benefits are paid to the Owner of a Contract held by a Non-Grantor Trust;
(d)	the date there is no longer a Covered Person under the GLWB Rider;
(e)	the date the Contract is terminated;
(f)	the date the Benefit Base is reduced to zero prior to the GLWB Settlement Phase due to one or more Excess Withdrawals;
(g)	the Annuity Commencement Date, if no Installments have been taken; or
(h)	the date a Non-Qualified Annuity Contract and Rider are assigned to a new Owner if the Covered Person(s) is/are changed.

If the GLWB is canceled, the Benefit Base, GAW and any other benefit accrued or received under the GLWB shall terminate. The Owner may not make any subsequent Transfers or GLWB Rider Contributions into the GLWB Rider until at least ninety (90) calendar days after termination of the GLWB, at which point a new GLWB Rider Election Date shall be recorded. In such an event, the Benefit Base will be based on the current Covered Fund Value on the date the new GLWB is established.

We will not provide Owners with notice prior to termination of the Contract or GLWB Rider and the Guarantee Benefit Fee will not be refunded upon termination of the GLWB Rider.

You should consult with your financial professional to assist you in determining whether the GLWB Rider is suited for your financial needs and investment risk tolerance. Adding the GLWB Rider to your Contract may not be in your interest since all conditions of the Rider must be met, an additional annual fee is imposed and a Covered Person must remain living for you to receive certain benefits. Furthermore, the GLWB Rider contains different investment options (Covered Funds) and special investment limitations with conditions than otherwise available under the Contract. You should carefully consider each of these factors before deciding if a GLWB Rider is suitable for your needs, especially at older ages.

The applicable GAW% and Joint GAW% are shown in the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract, rather than at the time you select a GLWB Rider. If you would like more information on the GLWB Rider, the GAW%, or the Joint GAW% applicable to you, or for a copy of the Rate Sheet Supplement in effect at the time you signed the application to purchase your Contract, please contact our Retirement Resource Operations Center.

Seek Tax Advice

The following discussion of the federal income tax consequences is only a brief summary of general information and is not intended as tax advice to any individual. The federal income tax consequences discussed here reflect our understanding of current law and the law may change. Federal estate tax consequences and state and local estate, inheritance, and other tax consequences of ownership or receipt of distributions under a Contract depend on your individual circumstances or the circumstances of the person who receives the distribution.

You should consult a tax advisor for further information.

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Federal Tax Matters

The following discussion is a general description of federal income tax considerations relating to the Contract and is not intended as tax advice. This discussion assumes that the Contract qualifies as an annuity contract for federal income tax purposes. This discussion is not intended to address the tax consequences resulting from all situations. If you are concerned about the tax implications relating to the ownership or use of the Contract, you should consult a competent tax advisor as to how the tax rules apply to you before initiating any transaction.

This discussion is based upon our understanding of the present federal income tax laws as they are currently interpreted by the IRS. No representation is made as to the likelihood of the continuation of the present federal income tax laws or of the current interpretation by the IRS. Moreover, no attempt has been made to consider any applicable state or other tax laws.

Because tax laws, rules, and regulations are constantly changing, we do not make any guarantees about the Contract’s tax status.

Taxation of Annuities

Section 72 of the Code governs the taxation of annuities. An owner who is a “natural person” will not generally be taxed on increases, if any, in the value of the Annuity Account Value until all or part of the Annuity Account Value is distributed (for example, withdrawals, GAW payments or annuity payouts under the annuity payout option elected). An Owner who is a “non-natural entity”, such as a Non-Grantor Trust will generally be taxed on increases, if any, in the value of the Annuity Account Value until all or part of the Annuity Account Value is distributed. However, if the Non-Grantor Trust is considered to be an agent for a natural person, the Contract generally will be treated as held by a natural person. You should consult with your tax advisor as to whether your Non-Grantor Trust satisfies the exception to the non-natural owner rule.

Under a Grantor Trust, the Grantor(s), who must be a natural person(s), is treated as the Owner of the Contract for tax purposes. The taxable portion of a distribution (in the form of a single sum payout, a withdrawal, a GAW payment or an annuity) is taxable as ordinary income.

If the Owner of a Contract is a non-natural person (for example, a corporation, partnership, limited liability company or trust), the Owner must generally include in income any increase in the excess of the Annuity Account Value over the “investment in the Contract” (discussed below) during each taxable year. The rule generally does not apply, however, where the non-natural person is only the nominal Owner of a Contract and the beneficial Owner is a natural person.

This rule also does not apply where:

• The Contract is acquired by the estate of a decedent.

• The Contract is a qualified funding asset for a structured settlement.

• The Contract is an immediate annuity.

The following discussion generally applies to a Contract owned by a natural person.

Withdrawals

Partial withdrawals, including GAW payments and periodic withdrawals that are not part of an annuity payout, are generally treated as taxable income to the extent that the Annuity Account Value immediately before the withdrawal exceeds the “investment in the Contract” at that time. Full surrenders are treated as taxable income to the extent that the amount received exceeds the “investment in the Contract.” The taxable portion of any withdrawal is taxed at ordinary income tax rates.

The IRS has not provided guidance as to the tax treatment of the charge for the GLWB (the Guarantee Benefit Fee) under the Contract. The IRS could treat the deduction of the Guarantee Benefit Fee from the Covered Fund Value (for applications signed before May 1, 2017) or the Benefit Base (for applications signed on or after May 1, 2017) as a deemed withdrawal from the contract subject to current income tax to the extent the amount deemed received exceeds the investment in the Contract and, if applicable, the 10% premature distribution penalty tax. We do not currently report charges for the GLWB as withdrawals, but we will do so in the future if the IRS requires that we do so.

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Annuity Payouts

Although the tax consequences will vary depending on the annuity form elected under the Contract, in general, only the portion of the annuity payout that exceeds the exclusion amount will be taxed. The exclusion amount is generally determined by a formula that establishes the ratio of the “investment in the Contract” to the expected return under the Contract. For variable annuity payouts, in general there is no tax on the portion of each payout which represents the same ratio that the “investment in the Contract” allocated to the variable annuity payouts bears to the number of payouts expected to be made (determined by Treasury Department regulations which take into account the Annuitant’s life expectancy and the form of annuity benefit selected). However, the remainder of each annuity payout is taxable. Once the “investment in the Contract” has been fully recovered, the full amount of any additional annuity payouts is taxable. If the annuity payments stop as a result of an Annuitant’s death before full recovery of the “investment in the Contract,” you should consult a competent tax advisor regarding the deductibility of the unrecovered amount.

If part of an annuity contract’s value is applied to an annuity option that provides payments for one or more lives or for a period of at least ten years, those payments may be taxed as annuity payments instead of withdrawals.

The taxable portion of any annuity payout is taxed at ordinary income tax rates.

Penalty Tax

There may be a federal income tax penalty imposed equal to 10% of the amount treated as taxable income. In general, however, there is no penalty tax on distributions:

• Made on or after the date on which the Owner reaches age 59¹⁄2.

• Made as a result of death or disability of the Owner.

• Received in substantially equal periodic payouts (at least annually) for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and the Beneficiary.

Similar penalties are imposed on premature distributions from Qualified Annuity Contracts. For more details regarding this penalty tax and other exemptions that may be applicable, consult a competent tax advisor.

Taxation of Death Benefit Proceeds

Amounts may be distributed from the Contract because of the death of an Owner. Generally such amounts are included in the income of the recipient as follows:

• If distributed in a lump sum, they are taxed in the same manner as a full withdrawal, as described above.

• If distributed under an annuity form, they are taxed in the same manner as annuity payouts, as described above.

Distribution at Death

For a Non-Qualified Annuity Contract to be treated as an annuity contract for federal income tax purposes, the terms of the Contract must provide the following two distribution rules:

• If the Owner dies before the date annuity payouts start, the entire Annuity Account Value must generally be distributed within five years after the date of death. If payable to a designated Beneficiary, the distributions may be paid over the life of that designated Beneficiary or over a period not extending beyond the life expectancy of that Beneficiary, so long as payouts start within one year of the Owner’s death. If the sole designated Beneficiary is the Owner’s Spouse, the Contract may be continued in the name of the Spouse as Owner.

• If the Owner dies on or after the date annuity payouts start, and before the entire interest in the Contract has been distributed, payments under the Contract must continue on the same or on a more rapid schedule than that provided for in the method in effect on the date of death.

See the discussion below for Required Minimum Distributions from Qualified Annuity Contracts.

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Diversification of Investments

For a Non-Qualified Annuity Contract to be treated as an annuity for federal income tax purposes, the investments of the Sub-Accounts must be “adequately diversified” in accordance with Treasury Department Regulations. If the Series Account or a Sub-Account failed to comply with these diversification standards, a Non-Qualified Annuity Contract would not be treated as an annuity contract for federal income tax purposes and the Owner would generally be taxable currently on the excess of the Annuity Account Value over the “investment in the Contract.”

Although we may not control the investments of the Covered Funds or the Portfolios, we expect that the Covered Funds and the Portfolios will comply with such regulations so that the Sub-Accounts will be considered “adequately diversified.” Owners bear the risk that the entire Non-Qualified Annuity Contract could be disqualified as an annuity under the Code due to the failure of the Series Account or a Sub-Account to be deemed to be adequately diversified.

Owner Control

In connection with its issuance of temporary and proposed regulations under Section 817(h) in 1986, the Treasury Department announced that those regulations did not “provide guidance concerning the circumstances in which investor control of the investments of a segregated asset account may cause the investor (i.e., the Owner), rather than the insurance company to be treated as the owner of the assets in the account” (which would result in the current taxation of the income on those assets to the Owner). In Revenue Ruling 2003-91, the IRS provided such guidance by describing the circumstances under which the owner of a variable contract will not possess sufficient control over the assets underlying the contract to be treated as the owner of those assets for federal income tax purposes. Rev. Rul. 2003-91 states that the determination of whether the owner of a variable contract is to be treated as the owner of the assets held by the insurance company under the contract will depend on all of the facts and circumstances. We do not believe that the ownership rights of an Owner under the Contract would result in any Owner being treated as the owner of the assets of the Contract under Rev. Rul. 2003-91. However, we do not know whether the IRS will provide additional guidance on this issue and what standards that guidance may contain. Therefore, we reserve the right to modify the Contract as necessary to attempt to prevent an Owner from being considered the owner of a pro rata share of the assets of the Contract.

Multiple Contracts

All deferred, Non-Qualified Annuity Contracts that Great-West (or our affiliates) issues to the same Owner during any calendar year must be treated as a single annuity contract for purposes of determining the taxable amount.

Withholding

Distributions generally are subject to withholding at rates that vary according to the type of distribution and the recipient’s tax status. Recipients, however, generally are provided the opportunity to elect not to have tax withheld from distributions.

Section 1035 Exchanges

Code Section 1035 provides that no gain or loss shall be recognized on the exchange of one annuity contract for another. Generally, an annuity contract issued in an exchange for another annuity contract is treated as new for purposes of the penalty and distribution at death rules.

If the initial Contribution is made as a result of an exchange or surrender of another annuity contract, we may require you to inform us regarding the federal income tax status of the previous annuity contract.

In Revenue Procedure 2011-38, the IRS eased the restrictions on when a partial transfer between annuity contracts will be treated as a tax-free exchange under Code Section 1035. The original restrictions were imposed by Revenue Procedure 2008-24, which set forth the circumstances under which a direct transfer of a portion of the cash surrender value of an existing annuity contract for a second annuity contract would be treated by the IRS as a tax-free exchange.

Under Rev. Proc. 2011-38:

1.	The period of time in which cash cannot be withdrawn from either contract after a partial transfer is 180 days, and
2.	Annuity payments that satisfy the partial annuitization rule of Code Section 72(a)(2) will not be treated as a distribution from either the old or new contract.

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Please discuss any tax consequences concerning any contemplated or completed transactions with a competent tax advisor.

Assignment, Transfer or Exchange of the Contract

For Qualified Annuity Contracts, the Owner may not be changed and the Contract may not be transferred, sold, assigned, pledged, charged, encumbered, or in any way alienated.

For Non-Qualified Annuity Contracts, in order to assign your interest in the Contract, you must submit to us an original or certified copy of the assignment. Once we record the assignment, the Owner’s rights and those of the Beneficiary are subject to the assignment. We are not responsible for the validity of any assignment. An assignment of the Contract will result in termination of the GLWB Rider if the Covered Person(s) is/are changed. See “Termination of the GLWB Rider” above.

The designation of an Annuitant or other Beneficiary who is not also the Owner may result in adverse tax consequences that are not discussed in this Prospectus.

Assignment or transfer of Ownership while the Owner is still alive will result in cancellation of any Restricted Beneficiary Payout Options chosen by the Owner. See “Restricted Beneficiary Payout Options” above for more information.

Investment Income Surtax

Distributions from Non-Qualified Annuity Contracts are considered “investment income” for purposes of the Medicare tax on investment income. Thus, in certain circumstances, a 3.8% tax may be applied to some or all of the taxable portion of distributions (e.g., earnings) to individuals, trusts, and estates whose income exceeds certain threshold amounts as follows: an amount equal to the lesser of (a) “net investment income”; or (b) the excess of a taxpayer’s modified adjusted gross income over a specified income threshold ($250,000 for married couples filing jointly, $125,000 for married couples filing separately, and $200,000 for everyone else). “Net investment income” is defined for this purpose as including the excess (if any) of gross income from annuities over allowable deductions, as such terms are defined in the Health Care and Education Reconciliation Act of 2010. The term net investment income excludes any distribution from an IRA or certain other retirement plans or arrangements. The IRS has issued regulations implementing this new provision of the law. Please consult the impact of the Investment Income Surtax on you with a competent tax advisor.

Domestic Partnerships, Civil Unions, and Same-Sex Marriages

The Internal Revenue Service’s Revenue Ruling 2013-17 holds that for all federal tax purposes, including income, gift and estate tax, the IRS will recognize same-sex marriages that are legally valid in the state where the couple married, regardless of whether the state in which the couple resides would recognize the marriage. In the 2015 case, Obergefell v. Hodges, the U.S. Supreme Court required all states to issue marriage licenses to same-sex couples and to recognize same-sex marriages validly performed in other jurisdictions. For federal tax purposes, the term ‘marriage’ does not include registered domestic partnerships, civil unions, or other similar formal relationships recognized under state law that are not denominated as a marriage under that state’s law. Therefore, domestic partners and individuals in civil unions are not treated as Spouses under this Contract. You are strongly encouraged to consult with a competent tax advisor for additional information on your state’s law regarding civil unions and same-sex marriages.

Qualified Annuity Contracts

Notwithstanding any provision of the Contract or GLWB Rider, certain provisions apply to Contracts intended to qualify as Individual Retirement Annuities under section 408(b) of the Code and Roth Individual Retirement Annuities under section 408A of the Code:

• Only the Owner may be the Annuitant of the Contract;

• Only one Owner may be established under the Contract;

• The Contract will be established for the exclusive benefit of the Owner and the Beneficiary;

• The entire interest of the Owner is non-forfeitable;

• The Contract is non-transferable. The Owner may not borrow any money under the Contract or pledge it as security for a loan. The Owner may not sell, assign or transfer the Contract, unless permitted by a Divorce or Separation Decree.

• Separate records will be maintained for the interest of each Owner. Great-West will furnish an annual calendar year report on the status of the Contract and such information concerning required minimum distributions as is prescribed by the Commissioner of Internal Revenue.

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Contributions to Qualified Annuity Contracts

Except in the case of a “rollover contribution” as permitted by sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8) 403(b)(10) 408(d)(3) or 457(e)(16) of the Code or a Contribution made in accordance with the terms of a Simplified Employee Pension (SEP), as described in Code Section 408(k), Contributions will only be accepted if they are in cash. The total of such Contributions shall not exceed the maximum as Section 219(b)(5)(A) of the Code may allow, for any taxable year, regardless of whether such Contributions are deductible by the Owner under Section 219(b)(1) of the Code. In the case of an individual who is age 50 or older, the annual cash Contribution limit is increased by the amount as Section 219(b)(5)(B) of the Code may allow for any taxable year.

You have sole responsibility for determining whether any premium payment meets applicable income tax requirements.

Required Minimum Distributions from Qualified Annuity Contracts

It is the responsibility of the Owner to Request payments in accordance with the minimum distribution requirements of the Code. Great-West is not responsible for any penalties resulting from a failure to Request timely payments in the proper amount. Required Minimum Distributions (“RMDs”) made from the GLWB Rider will only be made in a manner consistent with the required minimum distribution rules or other provisions of the Code. The Owner must begin to take payments which satisfy the minimum distribution requirements of the Code no later than April 1 of the calendar year following the calendar year in which the Owner attains age 70 ¹⁄2. If you own a Roth IRA, you are not required to receive minimum distributions from your Roth IRA during your life.

Any RMD during the GLWB Accumulation Phase will be considered an Excess Withdrawal.

During the GAW Phase, RMDs will not be considered to be Excess Withdrawals if the required minimum distribution causes the total Distributions to exceed the GAW amount to the extent the RMD amount is attributable to the Covered Fund Value.

You should consult a tax advisor regarding withdrawals to satisfy his or her RMD amount.

Distributions Before Death in Qualified Annuity Contracts

Notwithstanding any provision of the Contract, GLWB Rider or Endorsement to the contrary, the distribution of the individual’s interest in the Qualified Annuity Contract shall be made in accordance with the requirements of Section 408(b)(3) of the Code and the regulations thereunder. If you own a Roth IRA, you are not required to receive minimum distributions from your Roth IRA during your life.

The Owner’s entire interest in the Contract must be distributed, or begin to be distributed, by the Owner’s required beginning date, which is April 1 of the calendar year following the calendar year in which the Owner reaches age 70 ¹⁄2. For that year, and each succeeding year, a distribution must be made on or before December 31. By the required beginning date, the Owner may elect to have the balance in the Contract distributed in one of the following forms:

(a)	a single sum payment;
(b)	equal or substantially equal payments no less frequently than annually over the life of the Owner;
(c)	equal or substantially equal payments no less frequently than annually over the lives of the Owner and the designated Beneficiary;
(d)	equal or substantially equal payments no less frequently than annually over a period not extending beyond the Owner’s life expectancy; or
(e)	equal or substantially equal payments no less frequently than annually over a period not extending beyond the joint life and last survivor expectancy of the Owner and the designated Beneficiary.

All distributions made hereunder shall be made in accordance with section 401(a)(9) of the Code, including the incidental death benefit requirements, and any other applicable regulations.

If payment is not to be made in the form of periodic annuity payments on an irrevocable basis (except for acceleration), the amount to be distributed each year, beginning with the first calendar year for which distributions are required and then for each succeeding calendar year will be determined under the applicable provisions of the Code and the implementing regulations.

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Distributions Upon Death in Qualified Annuity Contracts

Distributions beginning before death. If the Owner dies after distribution has begun, the remaining portion of such interest will continue to be distributed at least as rapidly as under the method of distribution being used prior to the individual’s death.

Distributions beginning after death. If the Owner dies before distribution has begun, distribution of the individual’s entire interest shall be completed by December 31 of the calendar year containing the fifth anniversary of the individual’s death unless an election is made to receive distribution in accordance with (1) or (2) below:

1)	If the Owner’s interest is payable to a designated Beneficiary, then the entire interest of the individual may be distributed in equal or substantially equal payments over the life or over a period certain not greater than the life expectancy of the designated Beneficiary commencing on or before December 31 of the calendar year immediately following the calendar year in which the Owner died.
2)	If the designated Beneficiary is the Owner’s surviving Spouse, the date distributions are required to begin in accordance with (1) above shall not be earlier than the later of (A) December 31 of the calendar year immediately following the calendar year in which the individual died or (B) December 31 of the calendar year in which the individual would have attained age 70 1⁄2.
3)	If the designated Beneficiary is the Owner’s surviving Spouse, the Spouse may treat the Contract as his or her own Qualified Annuity Contract. This election will be deemed to have been made if such surviving Spouse makes a regular Contribution to the Contract, makes a rollover to or from such Contract, or fails to elect any of the above provisions.

Life expectancy is computed by use of the single life table in Q&A 1 of Section 1.401(a)(9)-9 of the regulations. If distributions are being made to a surviving Spouse as the sole designated Beneficiary, such Spouse’s remaining life expectancy for a year is the number in the single life table corresponding to such Spouse’s age in each year after the calendar year of the Owner’s death. In all other cases, remaining life expectancy for a year is the number in the single life table corresponding to the Beneficiary’s age in the year following the calendar year of the individual’s death and reduced by 1 for each subsequent year.

Distribution of the Contracts

We offer the Contract on a continuous basis. We have entered into a distribution agreement with Charles Schwab & Co., Inc. (“Schwab”) and GWFS. Contracts are sold in those states where the Contract may lawfully be sold by licensed insurance agents who are registered representatives. Schwab is registered as a broker/dealer under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is a member of FINRA. Schwab’s principal offices are located at 211 Main Street, San Francisco, California 94105.

GWFS is the principal underwriter and distributor of the Contracts and is a wholly-owned subsidiary of Great-West. GWFS is registered with the SEC as a broker/dealer under the Exchange Act and is a member of FINRA. Its principal offices are located at 8515 East Orchard Road, Greenwood Village, Colorado, 80111.

Great-West (or its affiliates, for purposes of this section only, collectively, “the Company”) pays Schwab compensation for the promotion and sale of the Contract as described below. Compensation paid to Schwab is not paid directly by the Owner or the Series Account. The Company intends to fund this compensation through fees and charges imposed under the Contract and payable to the Company, and from profits on payments received by the Company from Portfolios’ advisers or administrators for providing administrative, marketing, and other support and services to the Portfolios. See “Expenses of the Portfolios” above. The Company pays a portion of these proceeds to Schwab for distribution services.

As compensation for distribution services and some Contract administrative services, the Company pays Schwab an annual fee equal to 0.51% of average daily Series Account assets. The Company also may pay a marketing allowance or allow other promotional incentives or payments to Schwab in the form of cash or other compensation, as mutually agreed upon by the Company and the broker/dealers, to the extent permitted by FINRA rules and other applicable laws and regulations.

You should ask your Schwab representative for further information about what compensation he or she, or Schwab, may receive in connection with your purchase of a Contract.

Voting Rights

In general, you do not have a direct right to vote the Portfolio shares held in the Series Account. However, under current law, you are entitled to give us instructions on how to vote the shares. We will vote the shares according to those instructions at regular and special shareholder meetings. If the law changes and we can vote the shares in our own right, we may elect to do so.

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Before the Annuity Commencement Date, you have the voting interest. The number of votes available to you will be calculated separately for each of your Sub-Accounts. That number will be determined by applying your percentage interest, if any, in a particular Sub-Account to the total number of votes attributable to that Sub-Account. You hold a voting interest in each Sub-Account to which your Annuity Account Value is allocated. If you select a variable annuity option, the person receiving payments will have the voting interest, and the votes attributable to the Contract will decrease as annuity payouts are made.

The number of votes of a Portfolio will be determined as of the date established by that Portfolio for determining shareholders eligible to vote at the meeting of the Portfolio. Voting instructions will be solicited by communication prior to such meeting in accordance with procedures established by the respective Portfolios.

If we do not receive timely instructions, or if Owners have no beneficial interest in shares held by us, we will vote according to the voting instructions as a proportion of all Contracts participating in the Sub-Account. Shares held by us will also be voted proportionately. The effect of proportional voting is that if a large number of Owners fail to give voting instructions, a small number of Owners may determine the outcome of the vote. If you indicate in your instructions that you do not wish to vote an item, we will apply your instructions on a pro rata basis to reduce the votes eligible to be cast.

Each person or entity having a voting interest in a Sub-Account will receive proxy material, reports, and other material relating to the appropriate Portfolio.

Please note, generally the Portfolios are not required to, and do not intend to, hold annual or other regular meetings of shareholders.

Owners have no voting rights in Great-West.

Rights Reserved by Great-West

We reserve the right to make certain changes we believe would best serve the interests of Owners and Annuitants or would be appropriate in carrying out the purposes of the Contract. Any changes will be made only to the extent and in the manner permitted by applicable laws. Also, when required by law, we will obtain your approval of the changes and approval from any appropriate regulatory authority. Approval may not be required in all cases, however. Examples of the changes we may make include:

• To operate the Series Account in any form permitted under the 1940 Act or in any other form permitted by law.

• To Transfer any assets in any Sub-Account to another Sub-Account, or to one or more separate accounts; or to add, combine or remove Sub-Accounts of the Series Account.

• To substitute, for the Portfolio shares in any Sub-Account, the shares of another Portfolio or shares of another investment company or any other investment permitted by law.

• To cease offering existing variable annuity payout options or offer other variable annuity options.

• To cease accepting Contributions at any time upon 30 calendar days’ notice to Owner (i) if required by law, (ii) if we were no longer able to support the guarantees under the Contract; or (iii) if we were to stop selling this Contract.

• To make any changes required by the Code or by any other applicable law in order to continue treatment of the Contract as an annuity.

• To change the time or time of day that a valuation date is deemed to have ended.

• To make any other necessary technical changes in the Contract in order to conform with any action the above provisions permit us to take, including changing the way we assess charges, without increasing them for any outstanding Contract beyond the aggregate amount guaranteed.

• To limit the number of Contracts that you may purchase.

Legal Proceedings

Currently, the Series Account is not a party to, and its assets are not subject to any material legal proceedings. Further, Great-West is not currently a party to, and its property is not currently subject to, any material legal proceedings. The lawsuits to which Great-West is a party are, in the opinion of management, in the ordinary course of business, and are not expected to have a material adverse effect on the financial results, conditions, or prospects of Great-West.

Legal Matters

Advice regarding certain legal matters concerning the federal securities laws applicable to the issue and sale of the Contract has been provided by Carlton Fields, P.A.

57

Commodity Exchange Act

Pursuant to Commodity Futures Trading Commission Rule 4.5, Great-West has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act. Therefore, it is not subject to registration or regulation as a commodity pool operator under the Commodity Exchange Act.

Cyber Security Risks

Because our variable annuity contract business is highly dependent upon the effective operation of our computer systems and those of our business partners, our business is vulnerable to disruptions from utility outages and susceptible to operational and information security risks resulting from information system failures (e.g., hardware and software malfunctions) and cyber-attacks. These risks include, among other things, the theft, misuse, corruption, and destruction of data maintained online or digitally, denial of service on our website and other operational disruption, and unauthorized release of confidential Owner information. Such system failures and cyber-attacks affecting us, the Portfolios, intermediaries and other affiliated or third-party service providers may adversely affect us and your Annuity Account Value. For instance, system failures and cyber-attacks may interfere with our processing of Contract transactions, including the processing of Transfer Requests from our website or with the Portfolios, impact our ability to calculate Accumulation Unit values, cause the release and possible destruction of confidential Owner or business information, impede order processing, subject us and/or our service providers and intermediaries to regulatory fines , litigation, and financial losses and/or cause reputational damage. Cyber security risks may also impact the issuers of securities in which the Portfolios invest, which may cause the Portfolios underlying your Contract to lose value. There can be no assurance that we or the Portfolios or our service providers will avoid losses affecting your Contract due to cyber-attacks or information security breaches in the future.

Electronic Delivery of Information

Great-West will deliver information electronically only if the Owner has consented to receiving information in electronic form. We will use reasonable procedures to maintain the security of electronically delivered information. Information will be considered to be delivered to the Owner when an e-mail is received. If the Owner consents to receipt of information by electronic means, the Owner agrees to provide an e-mail address to Great-West and to keep that e-mail address current. Upon notice to the Owner, Great-West reserves the right to modify, suspend or terminate delivery of information in electronic form at any time. The Owner may terminate delivery of information in electronic form at any time by notifying the Retirement Operations Resource Center in writing. If electronic delivery of information is terminated, then such information will be delivered by mail at no charge.

Abandoned Property Requirements

Every state has unclaimed property laws that generally provide for escheatment to the state of unclaimed property (including proceeds of annuity contracts) under various circumstances. This “escheatment” is revocable, however, and the state is obligated to pay the applicable proceeds if the property owner steps forward to claim it with the proper documentation. To help prevent such escheatment, it is important that you keep your contact and other information on file with us up to date, including the names, contact information, and identifying information for the Owner, Annuitant, and Beneficiaries.

Independent Registered Public Accounting Firm

The financial statements and financial highlights of each of the investment divisions of the Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York included in the Statement of Additional Information have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report appearing in the Registration Statement. Such financial statements have so been included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The statutory financial statements of Great-West Life & Annuity Insurance Company of New York included in the Statement of Additional Information have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report appearing in the Registration Statement. Such financial statements have so been included in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.

Available Information

You may request a free copy of the SAI. Please direct any oral, written, or electronic request for such documents to:

Retirement Resource Operations Center

P.O. Box 173920

58

Denver, CO 80217-3920

(800) 838-0650

AnnuityOperations@greatwest.com

The SEC maintains an Internet website (www.sec.gov) that contains the SAI and other information filed electronically by Great-West concerning the Contract and the Series Account.

The SAI contains more specific information relating to the Series Account and Great-West, such as:

• general information;

• Great-West Life & Annuity Insurance Company of New York and the Variable Annuity-1 Series Account;

• calculation of annuity payouts;

• services;

• withholding;

• financial statements; and

• historical guaranteed annual withdrawal percentages.

59

APPENDIX A

CONDENSED FINANCIAL INFORMATION

Selected Data for Accumulation Units outstanding Throughout Each Period
For the Periods Ended December 31

Investment Division (0.65)	2018	2017	2016	2015	2014
AB VPS GROWTH AND INCOME
Value at beginning of period	14.02	11.86	10.73	10.00
Value at end of period	13.15	14.02	11.86	10.73
Number of accumulation units outstanding at end of period	3,708	3,764	-	34,623
AB VPS GROWTH
Value at beginning of period	16.10	12.05
Value at end of period	16.64	16.10
Number of accumulation units outstanding at end of period	1,731	-
AB VPS REAL ESTATE INVESTMENT
Value at beginning of period	12.61	11.91	11.12	10.00
Value at end of period	12.01	12.61	11.91	11.12
Number of accumulation units outstanding at end of period	4,220	4,220	-	-
AB VPS SMALL/MID CAP VALUE
Value at beginning of period	13.71	12.20
Value at end of period	11.58	13.71
Number of accumulation units outstanding at end of period	6,193	1,035
ALGER CAPITAL APPRECIATION
Value at beginning of period	13.01	9.99
Value at end of period	12.91	13.01
Number of accumulation units outstanding at end of period	-	-
ALGER LARGE CAP GROWTH
Value at beginning of period	13.59	10.64	10.80	10.00
Value at end of period	13.80	13.59	10.64	10.80
Number of accumulation units outstanding at end of period	-	-	-	-
ALPS RED ROCKS LISTED PRIVATE EQUITY
Value at beginning of period	13.19	10.58
Value at end of period	11.50	13.19
Number of accumulation units outstanding at end of period	994	994
AMERICAN CENTURY INVESTMENTS VP BALANCED
Value at beginning of period	12.20	10.78
Value at end of period	11.66	12.20
Number of accumulation units outstanding at end of period	22,747	22,747
AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH
Value at beginning of period	13.53	11.30	10.02	10.69	10.00
Value at end of period	12.51	13.53	11.30	10.02	10.69
Number of accumulation units outstanding at end of period	866	866	834	834	834
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL
Value at beginning of period	11.44	8.77	9.34	10.00
Value at end of period	9.63	11.44	8.77	9.34
Number of accumulation units outstanding at end of period	3,938	785	-	9,380
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE
Value at beginning of period	14.42	13.02	10.68	10.92	10.00
Value at end of period	12.47	14.42	13.02	10.68	10.92
Number of accumulation units outstanding at end of period	2,238	2,238	1,170	1,170	1,170
AMERICAN CENTURY INVESTMENTS VP VALUE
Value at beginning of period	13.19	12.20	10.19	10.00
Value at end of period	11.90	13.19	12.20	10.19
Number of accumulation units outstanding at end of period	4,373	4,451	3,166	2,031
AMERICAN FUNDS IS NEW WORLD
Value at beginning of period	13.32	10.36

A-1

Investment Division (0.65)	2018	2017	2016	2015	2014
Value at end of period	11.38	13.32
Number of accumulation units outstanding at end of period	-	-
BLACKROCK GLOBAL ALLOCATION VI
Value at beginning of period	11.46	10.13	9.79	10.00
Value at end of period	10.55	11.46	10.13	9.79
Number of accumulation units outstanding at end of period	25,201	9,805	4,906	2,359
CLEARBRIDGE VARIABLE MID CAP
Value at beginning of period	12.40	11.07
Value at end of period	10.78	12.40
Number of accumulation units outstanding at end of period	2,602	2,602
CLEARBRIDGE VARIABLE SMALL CAP GROWTH
Value at beginning of period	12.43	10.07
Value at end of period	12.78	12.43
Number of accumulation units outstanding at end of period	7,727	5,644
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH
Value at beginning of period	13.34	10.50	10.00
Value at end of period	12.71	13.34	10.50
Number of accumulation units outstanding at end of period	11,657	4,777	1,318
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY
Value at beginning of period	19.96	14.89
Value at end of period	18.16	19.96
Number of accumulation units outstanding at end of period	1,569	1,569
DELAWARE VIP EMERGING MARKETS
Value at beginning of period	11.97	8.57
Value at end of period	10.01	11.97
Number of accumulation units outstanding at end of period	9,494	1,150
DELAWARE VIP SMALL CAP VALUE
Value at beginning of period	13.90	12.48	9.56	10.26	10.00
Value at end of period	11.50	13.90	12.48	9.56	10.26
Number of accumulation units outstanding at end of period	1,490	1,490	527	527	527
DELAWARE VIP SMID CAP CORE
Value at beginning of period	15.06	12.78	11.87	10.00
Value at end of period	13.15	15.06	12.78	11.87
Number of accumulation units outstanding at end of period	4,962	1,729	1,729	1,729
DREYFUS IP MIDCAP STOCK
Value at beginning of period	13.73	11.97	10.44	10.00
Value at end of period	11.53	13.73	11.97	10.44
Number of accumulation units outstanding at end of period	302	302	302	302
DREYFUS VIF GROWTH AND INCOME
Value at beginning of period	13.99	11.76	10.76	10.00
Value at end of period	13.25	13.99	11.76	10.76
Number of accumulation units outstanding at end of period	-	-	-	-
DWS CAPITAL GROWTH VIP
Value at beginning of period	15.47	12.33	10.00
Value at end of period	15.12	15.47	12.33
Number of accumulation units outstanding at end of period	2,272	2,272	-
DWS CORE EQUITY VIP
Value at beginning of period	14.96	12.44
Value at end of period	14.01	14.96
Number of accumulation units outstanding at end of period	3,231	3,231
DWS SMALL CAP INDEX VIP
Value at beginning of period	13.72	12.08
Value at end of period	12.10	13.72
Number of accumulation units outstanding at end of period	12,916	4,582
DWS SMALL MID CAP GROWTH VIP

A-2

Investment Division (0.65)	2018	2017	2016	2015	2014
Value at beginning of period	13.92	11.47
Value at end of period	11.95	13.92
Number of accumulation units outstanding at end of period	1,004	1,004
FRANKLIN SMALL CAP VALUE VIP
Value at beginning of period	13.02
Value at end of period	11.27
Number of accumulation units outstanding at end of period	1,466
GREAT-WEST AGGRESSIVE PROFILE
Value at beginning of period	10.00
Value at end of period	8.98
Number of accumulation units outstanding at end of period	13,577
GREAT-WEST BOND INDEX
Value at beginning of period	10.00
Value at end of period	10.16
Number of accumulation units outstanding at end of period	2,991
GREAT-WEST CONSERVATIVE PROFILE
Value at beginning of period	10.00
Value at end of period	9.70
Number of accumulation units outstanding at end of period	71,763
GREAT-WEST MID CAP VALUE
Value at beginning of period	13.30	11.44
Value at end of period	11.59	13.30
Number of accumulation units outstanding at end of period	1,273	1,273
GREAT-WEST MODERATE PROFILE
Value at beginning of period	10.00
Value at end of period	9.39
Number of accumulation units outstanding at end of period	9,011
GREAT-WEST MODERATELY CONSERVATIVE PROFILE
Value at beginning of period	10.00
Value at end of period	9.54
Number of accumulation units outstanding at end of period	20,039
GREAT-WEST MULTI-SECTOR BOND
Value at beginning of period	10.97	10.39
Value at end of period	10.56	10.97
Number of accumulation units outstanding at end of period	-	-
GREAT-WEST SECUREFOUNDATION BALANCED
Value at beginning of period	12.25	10.91	10.10	10.24	10.00
Value at end of period	11.82	12.25	10.91	10.10	10.24
Number of accumulation units outstanding at end of period	1,169,431	1,207,440	902,965	596,892	159,148
GREAT-WEST T. ROWE PRICE MID CAP GROWTH
Value at beginning of period	11.26
Value at end of period	10.93
Number of accumulation units outstanding at end of period	15,994
INVESCO V.I. COMSTOCK
Value at beginning of period	13.37	11.42
Value at end of period	11.67	13.37
Number of accumulation units outstanding at end of period	8,727	-
INVESCO V.I. GROWTH & INCOME
Value at beginning of period	13.77
Value at end of period	11.85
Number of accumulation units outstanding at end of period	7,456
INVESCO V.I. HIGH YIELD
Value at beginning of period	10.94
Value at end of period	10.50
Number of accumulation units outstanding at end of period	1,089

A-3

Investment Division (0.65)	2018	2017	2016	2015	2014
INVESCO V.I. INTERNATIONAL GROWTH
Value at beginning of period	11.23	9.19	9.29	10.00
Value at end of period	9.49	11.23	9.19	9.29
Number of accumulation units outstanding at end of period	-	-	-	-
INVESCO V.I. SMALL CAP EQUITY
Value at beginning of period	12.47	11.01
Value at end of period	10.52	12.47
Number of accumulation units outstanding at end of period	6,100	1,439
IVY VIP INTERNATIONAL CORE EQUITY
Value at beginning of period	11.05
Value at end of period	9.02
Number of accumulation units outstanding at end of period	6,121
JANUS HENDERSON VIT BALANCED
Value at beginning of period	12.60	10.73	10.36	10.00
Value at end of period	12.57	12.60	10.73	10.36
Number of accumulation units outstanding at end of period	32,062	17,929	14,982	2,655
JANUS HENDERSON VIT FLEXIBLE BOND
Value at beginning of period	10.40	10.13	9.97	10.04	10.00
Value at end of period	10.20	10.40	10.13	9.97	10.04
Number of accumulation units outstanding at end of period	700	700	1,055	1,055	355
JANUS HENDERSON VIT GLOBAL RESEARCH
Value at beginning of period	12.81	10.15	10.01	10.00
Value at end of period	11.85	12.81	10.15	10.01
Number of accumulation units outstanding at end of period	7,570	7,570	-	-
JANUS HENDERSON VIT GLOBAL TECHNOLOGY
Value at beginning of period	18.20	12.64
Value at end of period	18.25	18.20
Number of accumulation units outstanding at end of period	2,789	784
JPMORGAN INSURANCE TRUST SMALL CAP CORE
Value at beginning of period	13.98	12.21	10.22	10.00
Value at end of period	12.23	13.98	12.21	10.22
Number of accumulation units outstanding at end of period	-	-	-	2,015
LAZARD RETIREMENT EMERGING MARKETS EQUITY
Value at beginning of period	10.79	8.50	7.08	10.00
Value at end of period	8.73	10.79	8.50	7.08
Number of accumulation units outstanding at end of period	10,240	8,616	719	794
LVIP BARON GROWTH OPPORTUNITIES
Value at beginning of period	13.42	10.62	10.12	10.00
Value at end of period	12.81	13.42	10.62	10.12
Number of accumulation units outstanding at end of period	1,026	1,026	-	-
MFS VIT II INTERNATIONAL VALUE
Value at beginning of period	13.23	10.50	10.17	9.63	10.00
Value at end of period	11.86	13.23	10.50	10.17	9.63
Number of accumulation units outstanding at end of period	9,273	8,662	2,383	2,383	364
MFS VIT III MID CAP VALUE
Value at beginning of period	10.94	10.00
Value at end of period	9.62	10.94
Number of accumulation units outstanding at end of period	1,924	1,924
MFS VIT UTILITIES SERIES
Value at beginning of period	10.69
Value at end of period	10.71
Number of accumulation units outstanding at end of period	-
NVIT MID CAP INDEX
Value at beginning of period	13.95	12.15	10.19	10.00
Value at end of period	12.25	13.95	12.15	10.19

A-4

Investment Division (0.65)	2018	2017	2016	2015	2014
Number of accumulation units outstanding at end of period	14,006	5,326	116	116
OPPENHEIMER GLOBAL
Value at beginning of period	13.78	10.15	10.20	9.88	10.00
Value at end of period	11.88	13.78	10.15	10.20	9.88
Number of accumulation units outstanding at end of period	4,679	4,679	1,254	1,254	1,254
OPPENHEIMER INTERNATIONAL GROWTH
Value at beginning of period	11.28	8.99	9.25	10.00
Value at end of period	9.03	11.28	8.99	9.25
Number of accumulation units outstanding at end of period	354	354	354	354
OPPENHEIMER MAIN STREET SMALL CAP
Value at beginning of period	13.59	11.99	10.22	10.93	10.00
Value at end of period	12.11	13.59	11.99	10.22	10.93
Number of accumulation units outstanding at end of period	4,344	3,451	2,600	2,593	1,193
PIMCO VIT COMMODITY REALRETURN STRATEGY
Value at beginning of period	6.35	6.26
Value at end of period	5.42	6.35
Number of accumulation units outstanding at end of period	9,192	9,192
PIMCO VIT HIGH YIELD
Value at beginning of period	11.46	10.82	9.68	10.00
Value at end of period	11.08	11.46	10.82	9.68
Number of accumulation units outstanding at end of period	6,959	5,426	1,280	1,127
PIMCO VIT LOW DURATION
Value at beginning of period	10.04	9.97	9.90	10.00
Value at end of period	10.01	10.04	9.97	9.90
Number of accumulation units outstanding at end of period	6,321	4,460	3,888	13,846
PIMCO VIT REAL RETURN
Value at beginning of period	10.30	10.00
Value at end of period	10.01	10.30
Number of accumulation units outstanding at end of period	2,476	2,476
PIMCO VIT TOTAL RETURN
Value at beginning of period	10.69	10.26	10.05	10.00
Value at end of period	10.56	10.69	10.26	10.05
Number of accumulation units outstanding at end of period	56,695	43,971	19,703	6,758
PIONEER SELECT MID CAP GROWTH VCT
Value at beginning of period	14.27	11.04
Value at end of period	13.26	14.27
Number of accumulation units outstanding at end of period	5,316	5,316
PUTNAM VT EQUITY INCOME
Value at beginning of period	13.63
Value at end of period	12.39
Number of accumulation units outstanding at end of period	-
PUTNAM VT GLOBAL ASSET ALLOCATION
Value at beginning of period	12.19	10.61
Value at end of period	11.26	12.19
Number of accumulation units outstanding at end of period	6,867	6,867
PUTNAM VT MULTI-CAP CORE
Value at beginning of period	14.38	11.75	10.53	10.81	10.00
Value at end of period	13.22	14.38	11.75	10.53	10.81
Number of accumulation units outstanding at end of period	3,360	3,360	2,334	2,334	2,334
SCHWAB GOVERNMENT MONEY MARKET
Value at beginning of period	9.82	9.84	9.90	9.96	10.00
Value at end of period	9.90	9.82	9.84	9.90	9.96
Number of accumulation units outstanding at end of period	87,553	69,644	60,815	15,636	15,760
SCHWAB S&P 500 INDEX
Value at beginning of period	14.56	12.04	10.85	10.79	10.00

A-5

Investment Division (0.65)	2018	2017	2016	2015	2014
Value at end of period	13.83	14.56	12.04	10.85	10.79
Number of accumulation units outstanding at end of period	186,404	118,866	56,538	60,960	1,277
T. ROWE PRICE HEALTH SCIENCES
Value at beginning of period	15.33	12.12	13.67	12.23	10.00
Value at end of period	15.36	15.33	12.12	13.67	12.23
Number of accumulation units outstanding at end of period	883	883	1,005	1,005	1,005
TEMPLETON FOREIGN VIP
Value at beginning of period	9.87	8.52	8.00	10.00
Value at end of period	8.29	9.87	8.52	8.00
Number of accumulation units outstanding at end of period	9,670	9,670	3,123	1,406
TEMPLETON GLOBAL BOND VIP
Value at beginning of period	9.71	9.59	9.37	9.86	10.00
Value at end of period	9.83	9.71	9.59	9.37	9.86
Number of accumulation units outstanding at end of period	1,236	1,236	1,653	4,555	417
TVST TOUCHSTONE BOND
Value at beginning of period	10.03	9.74	9.72	10.00
Value at end of period	9.78	10.03	9.74	9.72
Number of accumulation units outstanding at end of period	-	-	-	-
TVST TOUCHSTONE FOCUSED
Value at beginning of period	14.01	12.41
Value at end of period	12.80	14.01
Number of accumulation units outstanding at end of period	8,965	-
VAN ECK VIP GLOBAL HARD ASSETS
Value at beginning of period	6.88	7.07
Value at end of period	4.89	6.88
Number of accumulation units outstanding at end of period	-	-
WELLS FARGO VT DISCOVERY
Value at beginning of period	14.29	11.14
Value at end of period	13.20	14.29
Number of accumulation units outstanding at end of period	-	-
WELLS FARGO VT OMEGA GROWTH
Value at beginning of period	14.08	10.53
Value at end of period	14.02	14.08
Number of accumulation units outstanding at end of period	1,012	1,012

Investment Division (0.85)	2018	2017	2016	2015	2014
AB VPS GROWTH AND INCOME
Value at beginning of period	13.92	11.80	10.69	10.00
Value at end of period	13.03	13.92	11.80	10.69
Number of accumulation units outstanding at end of period	-	180	-	-
AB VPS GROWTH
Value at beginning of period	15.99	11.99
Value at end of period	16.49	15.99
Number of accumulation units outstanding at end of period	61	161
AB VPS REAL ESTATE INVESTMENT
Value at beginning of period	12.52	11.85	11.09	10.00
Value at end of period	11.90	12.52	11.85	11.09
Number of accumulation units outstanding at end of period	835	835	835	835
AB VPS SMALL/MID CAP VALUE
Value at beginning of period	13.62	12.14
Value at end of period	11.47	13.62
Number of accumulation units outstanding at end of period	-	-
ALGER CAPITAL APPRECIATION
Value at beginning of period	12.94	9.96

A-6

Investment Division (0.85)	2018	2017	2016	2015	2014
Value at end of period	12.82	12.94
Number of accumulation units outstanding at end of period	-	153
ALGER LARGE CAP GROWTH
Value at beginning of period	13.49	10.59	10.77	10.00
Value at end of period	13.67	13.49	10.59	10.77
Number of accumulation units outstanding at end of period	-	147	-	-
ALPS RED ROCKS LISTED PRIVATE EQUITY
Value at beginning of period	13.15	10.56
Value at end of period	11.44	13.15
Number of accumulation units outstanding at end of period	-	-
AMERICAN CENTURY INVESTMENTS VP BALANCED
Value at beginning of period	12.12	10.73
Value at end of period	11.55	12.12
Number of accumulation units outstanding at end of period	-	-
AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH
Value at beginning of period	13.43	11.24	9.99	10.00
Value at end of period	12.40	13.43	11.24	9.99
Number of accumulation units outstanding at end of period	762	804	-	-
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL
Value at beginning of period	11.36	8.73	9.32	10.00
Value at end of period	9.55	11.36	8.73	9.32
Number of accumulation units outstanding at end of period	951	1,110	-	-
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE
Value at beginning of period	14.32	12.96	10.65	10.91	10.00
Value at end of period	12.36	14.32	12.96	10.65	10.91
Number of accumulation units outstanding at end of period	839	839	839	839	839
AMERICAN CENTURY INVESTMENTS VP VALUE
Value at beginning of period	13.09	12.14	10.16	10.00
Value at end of period	11.79	13.09	12.14	10.16
Number of accumulation units outstanding at end of period	-	-	-	-
AMERICAN FUNDS IS NEW WORLD
Value at beginning of period	13.28	10.34
Value at end of period	11.31	13.28
Number of accumulation units outstanding at end of period	-	152
BLACKROCK GLOBAL ALLOCATION VI
Value at beginning of period	11.38	10.08	9.76	10.00
Value at end of period	10.46	11.38	10.08	9.76
Number of accumulation units outstanding at end of period	-	-	-	-
CLEARBRIDGE VARIABLE MID CAP
Value at beginning of period	12.36	11.05
Value at end of period	10.72	12.36
Number of accumulation units outstanding at end of period	-	-
CLEARBRIDGE VARIABLE SMALL CAP GROWTH
Value at beginning of period	12.37	10.04
Value at end of period	12.68	12.37
Number of accumulation units outstanding at end of period	-	-
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH
Value at beginning of period	13.30	10.49	10.00
Value at end of period	12.64	13.30	10.49
Number of accumulation units outstanding at end of period	-	152	-
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY
Value at beginning of period	19.82	14.81
Value at end of period	17.99	19.82
Number of accumulation units outstanding at end of period	-	182
DELAWARE VIP EMERGING MARKETS

A-7

Investment Division (0.85)	2018	2017	2016	2015	2014
Value at beginning of period	11.88	8.53
Value at end of period	9.92	11.88
Number of accumulation units outstanding at end of period	-	222
DELAWARE VIP SMALL CAP VALUE
Value at beginning of period	13.80	12.42	9.53	10.00
Value at end of period	11.39	13.80	12.42	9.53
Number of accumulation units outstanding at end of period	-	-	-	-
DELAWARE VIP SMID CAP CORE
Value at beginning of period	14.95	12.71	11.84	10.00
Value at end of period	13.03	14.95	12.71	11.84
Number of accumulation units outstanding at end of period	-	-	-	-
DREYFUS IP MIDCAP STOCK
Value at beginning of period	13.63	11.91	10.40	10.00
Value at end of period	11.42	13.63	11.91	10.40
Number of accumulation units outstanding at end of period	-	-	-	-
DREYFUS VIF GROWTH AND INCOME
Value at beginning of period	13.89	11.70	10.73	10.00
Value at end of period	13.13	13.89	11.70	10.73
Number of accumulation units outstanding at end of period	1,866	1,866	1,866	1,866
DWS CAPITAL GROWTH VIP
Value at beginning of period	15.36	12.26	10.00
Value at end of period	14.99	15.36	12.26
Number of accumulation units outstanding at end of period	-	134	-
DWS CORE EQUITY VIP
Value at beginning of period	14.85	12.37
Value at end of period	13.88	14.85
Number of accumulation units outstanding at end of period	-	-
DWS SMALL CAP INDEX VIP
Value at beginning of period	13.62	12.02
Value at end of period	11.99	13.62
Number of accumulation units outstanding at end of period	-	-
DWS SMALL MID CAP GROWTH VIP
Value at beginning of period	13.82	11.42
Value at end of period	11.84	13.82
Number of accumulation units outstanding at end of period	-	-
FRANKLIN SMALL CAP VALUE VIP
Value at beginning of period	12.93
Value at end of period	11.17
Number of accumulation units outstanding at end of period	-
GREAT-WEST AGGRESSIVE PROFILE
Value at beginning of period	10.00
Value at end of period	8.97
Number of accumulation units outstanding at end of period	-
GREAT-WEST BOND INDEX
Value at beginning of period	10.00
Value at end of period	10.15
Number of accumulation units outstanding at end of period	-
GREAT-WEST CONSERVATIVE PROFILE
Value at beginning of period	10.00
Value at end of period	9.69
Number of accumulation units outstanding at end of period	-
GREAT-WEST MID CAP VALUE
Value at beginning of period	13.25	11.43
Value at end of period	11.52	13.25
Number of accumulation units outstanding at end of period	-	-

A-8

Investment Division (0.85)	2018	2017	2016	2015	2014
GREAT-WEST MODERATE PROFILE
Value at beginning of period	10.00
Value at end of period	9.38
Number of accumulation units outstanding at end of period	-
GREAT-WEST MODERATELY CONSERVATIVE PROFILE
Value at beginning of period	10.00
Value at end of period	9.53
Number of accumulation units outstanding at end of period	-
GREAT-WEST MULTI-SECTOR BOND
Value at beginning of period	10.93	10.38
Value at end of period	10.50	10.93
Number of accumulation units outstanding at end of period	-	-
GREAT-WEST SECUREFOUNDATION BALANCED
Value at beginning of period	12.16	10.86	10.07	10.23	10.00
Value at end of period	11.41	12.16	10.86	10.07	10.23
Number of accumulation units outstanding at end of period	89,770	94,003	98,212	102,826	41,078
GREAT-WEST T. ROWE PRICE MID CAP GROWTH
Value at beginning of period	11.24
Value at end of period	10.89
Number of accumulation units outstanding at end of period	-
INVESCO V.I. COMSTOCK
Value at beginning of period	13.27	11.36
Value at end of period	11.56	13.27
Number of accumulation units outstanding at end of period	-	-
INVESCO V.I. GROWTH & INCOME
Value at beginning of period	13.67
Value at end of period	11.74
Number of accumulation units outstanding at end of period	-
INVESCO V.I. HIGH YIELD
Value at beginning of period	10.86
Value at end of period	10.40
Number of accumulation units outstanding at end of period	-
INVESCO V.I. INTERNATIONAL GROWTH
Value at beginning of period	11.15	9.14	9.26	10.00
Value at end of period	9.40	11.15	9.14	9.26
Number of accumulation units outstanding at end of period	1,018	1,018	1,018	1,018
INVESCO V.I. SMALL CAP EQUITY
Value at beginning of period	12.39	10.95
Value at end of period	10.43	12.39
Number of accumulation units outstanding at end of period	-	-
IVY VIP INTERNATIONAL CORE EQUITY
Value at beginning of period	10.99
Value at end of period	8.96
Number of accumulation units outstanding at end of period	-
JANUS HENDERSON VIT BALANCED
Value at beginning of period	12.51	10.68	10.32	10.00
Value at end of period	12.45	12.51	10.68	10.32
Number of accumulation units outstanding at end of period	31,682	31,870	27,564	9,406
JANUS HENDERSON VIT FLEXIBLE BOND
Value at beginning of period	10.33	10.08	9.94	10.00
Value at end of period	10.11	10.33	10.08	9.94
Number of accumulation units outstanding at end of period	5,846	5,846	5,846	5,846
JANUS HENDERSON VIT GLOBAL RESEARCH
Value at beginning of period	12.72	10.10	9.97	10.00
Value at end of period	11.74	12.72	10.10	9.97

A-9

Investment Division (0.85)	2018	2017	2016	2015	2014
Number of accumulation units outstanding at end of period	706	706	706	706
JANUS HENDERSON VIT GLOBAL TECHNOLOGY
Value at beginning of period	18.07	12.58
Value at end of period	18.08	18.07
Number of accumulation units outstanding at end of period	56	183
JPMORGAN INSURANCE TRUST SMALL CAP CORE
Value at beginning of period	13.88	12.15	10.19	10.00
Value at end of period	12.12	13.88	12.15	10.19
Number of accumulation units outstanding at end of period	1,825	1,825	1,825	1,825
LAZARD RETIREMENT EMERGING MARKETS EQUITY
Value at beginning of period	10.72	8.45	7.06	10.00
Value at end of period	8.65	10.72	8.45	7.06
Number of accumulation units outstanding at end of period	1,084	1,084	1,084	1,084
LVIP BARON GROWTH OPPORTUNITIES
Value at beginning of period	13.33	10.56	10.09	10.69	10.00
Value at end of period	12.69	13.33	10.56	10.09	10.69
Number of accumulation units outstanding at end of period	857	857	857	857	857
MFS VIT II INTERNATIONAL VALUE
Value at beginning of period	13.13	10.44	10.14	10.00
Value at end of period	11.75	13.13	10.44	10.14
Number of accumulation units outstanding at end of period	-	-	-	-
MFS VIT III MID CAP VALUE
Value at beginning of period	10.92	10.00
Value at end of period	9.59	10.92
Number of accumulation units outstanding at end of period	-	-
MFS VIT UTILITIES SERIES
Value at beginning of period	10.61
Value at end of period	10.61
Number of accumulation units outstanding at end of period	95
NVIT MID CAP INDEX
Value at beginning of period	13.85	12.08	10.16	10.53	10.00
Value at end of period	12.14	13.85	12.08	10.16	10.53
Number of accumulation units outstanding at end of period	1,447	1,447	1,447	1,447	864
OPPENHEIMER GLOBAL
Value at beginning of period	13.68	10.09	10.17	10.00
Value at end of period	11.77	13.68	10.09	10.17
Number of accumulation units outstanding at end of period	884	1,041	884	884
OPPENHEIMER INTERNATIONAL GROWTH
Value at beginning of period	11.20	8.95	9.22	10.00
Value at end of period	8.95	11.20	8.95	9.22
Number of accumulation units outstanding at end of period	-	-	-	-
OPPENHEIMER MAIN STREET SMALL CAP
Value at beginning of period	13.50	11.92	10.19	10.92	10.00
Value at end of period	12.00	13.50	11.92	10.19	10.92
Number of accumulation units outstanding at end of period	850	850	850	850	850
PIMCO VIT COMMODITY REALRETURN STRATEGY
Value at beginning of period	6.31	6.22
Value at end of period	5.37	6.31
Number of accumulation units outstanding at end of period	-	-
PIMCO VIT HIGH YIELD
Value at beginning of period	11.37	10.75	9.65	9.89	10.00
Value at end of period	10.97	11.37	10.75	9.65	9.89
Number of accumulation units outstanding at end of period	901	901	901	901	901
PIMCO VIT LOW DURATION
Value at beginning of period	9.97	9.92	9.87	10.00

A-10

Investment Division (0.85)	2018	2017	2016	2015	2014
Value at end of period	9.92	9.97	9.92	9.87
Number of accumulation units outstanding at end of period	3,099	2,983	1,983	1,983
PIMCO VIT REAL RETURN
Value at beginning of period	10.27	9.99
Value at end of period	9.95	10.27
Number of accumulation units outstanding at end of period	1,084	977
PIMCO VIT TOTAL RETURN
Value at beginning of period	10.61	10.20	10.02	10.00
Value at end of period	10.47	10.61	10.20	10.02
Number of accumulation units outstanding at end of period	31,090	31,090	3,190	6,707
PIONEER SELECT MID CAP GROWTH VCT
Value at beginning of period	14.17	10.99
Value at end of period	13.14	14.17
Number of accumulation units outstanding at end of period	-	126
PUTNAM VT EQUITY INCOME
Value at beginning of period	13.53
Value at end of period	12.28
Number of accumulation units outstanding at end of period	-
PUTNAM VT GLOBAL ASSET ALLOCATION
Value at beginning of period	12.15	10.60
Value at end of period	11.20	12.15
Number of accumulation units outstanding at end of period	-	-
PUTNAM VT MULTI-CAP CORE
Value at beginning of period	14.27	11.69	10.49	10.00
Value at end of period	13.10	14.27	11.69	10.49
Number of accumulation units outstanding at end of period	-	-	-	-
SCHWAB GOVERNMENT MONEY MARKET
Value at beginning of period	9.75	9.79	9.87	9.95	10.00
Value at end of period	9.81	9.75	9.79	9.87	9.95
Number of accumulation units outstanding at end of period	16,160	7,670	12,560	5,199	29,574
SCHWAB S&P 500 INDEX
Value at beginning of period	14.46	11.98	10.82	10.78	10.00
Value at end of period	13.70	14.46	11.98	10.82	10.78
Number of accumulation units outstanding at end of period	30,226	30,416	33,155	22,784	3,353
T. ROWE PRICE HEALTH SCIENCES
Value at beginning of period	15.22	12.06	13.62	10.00
Value at end of period	15.22	15.22	12.06	13.62
Number of accumulation units outstanding at end of period	67	83	-	-
TEMPLETON FOREIGN VIP
Value at beginning of period	9.80	8.47	7.97	10.00
Value at end of period	8.22	9.80	8.47	7.97
Number of accumulation units outstanding at end of period	-	-	-	-
TEMPLETON GLOBAL BOND VIP
Value at beginning of period	9.64	9.54	9.34	10.00
Value at end of period	9.74	9.64	9.54	9.34
Number of accumulation units outstanding at end of period	-	-	-	-
TVST TOUCHSTONE BOND
Value at beginning of period	9.96	9.69	9.69	9.90	10.00
Value at end of period	9.69	9.96	9.69	9.69	9.90
Number of accumulation units outstanding at end of period	4,834	4,834	4,834	4,834	907
TVST TOUCHSTONE FOCUSED
Value at beginning of period	13.91	12.34
Value at end of period	12.69	13.91
Number of accumulation units outstanding at end of period	-	-
VAN ECK VIP GLOBAL HARD ASSETS

A-11

Investment Division (0.85)	2018	2017	2016	2015	2014
Value at beginning of period	6.83	7.03
Value at end of period	4.85	6.83
Number of accumulation units outstanding at end of period	205	-
WELLS FARGO VT DISCOVERY
Value at beginning of period	14.19	11.08
Value at end of period	13.08	14.19
Number of accumulation units outstanding at end of period	-	124
WELLS FARGO VT OMEGA GROWTH
Value at beginning of period	13.97	10.47
Value at end of period	13.89	13.97
Number of accumulation units outstanding at end of period	73	150

A-12

Appendix B - Net Investment Factor

The Net Investment Factor is determined by dividing (a) by (b), and subtracting (c) from the result where:

(a) is the net result of:

(i)	the net asset value per share of the Portfolio shares determined as of the end of the current valuation period, plus
(ii)	the per share amount of any dividend (or, if applicable, capital gain distributions) made by the Portfolio on shares if the “ex-dividend” date occurs during the current valuation period, plus or minus
(iii)	a per unit charge or credit for any taxes incurred by or provided for in the Sub-Account, which is determined by Great-West to have resulted from the investment operations of the Sub-Account, and

(b) is the result of:

(i)	the net asset value per share of the Portfolio shares determined as of the end of the immediately preceding valuation period; plus or minus
(ii)	the per unit charge or credit for any taxes incurred by or reserved for in the Sub-Account for the immediately preceding valuation period; and

(c) is an amount representing the Mortality and Expense Risk Charge deducted from each Sub-Account on a daily basis. Such amount is equal to 0.65% if you have selected Death Benefit Option 1 or 0.85% if you have selected Death Benefit Option 2.

The Net Investment Factor may be greater than, less than, or equal to one. Therefore, the Accumulation Unit value may increase, decrease, or remain unchanged.

The net asset value per share referred to in paragraphs (a)(i) and (b) above, reflects the investment performance of the Portfolio as well as the payment of Portfolio expenses.

B-1

Appendix C - Historical Guaranteed Annual Withdrawal Percentages from Prior Rate Sheet Supplements

Below are the historical Guaranteed Annual Withdrawal percentages (GAW%) and Joint GAW% from the Rate Sheet Supplements applicable to the GLWB Rider described in the Prospectus for the Contract. A complete description of the GLWB Rider can be found in the section of the Prospectus entitled “Guaranteed Lifetime Withdrawal Benefit Rider.”

CONTRACT APPLICATIONS SIGNED PRIOR TO MAY 1, 2017:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed prior to May 1, 2017.

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table:

GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	4.00%	5.00%	6.00%	7.00%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table:

Joint GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	3.50%	4.50%	5.50%	6.50%

CONTRACT APPLICATIONS SIGNED BETWEEN MAY 1, 2017 AND APRIL 30, 2018:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed between May 1, 2017 and April 30, 2018.

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table:

GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	4.00%	5.00%	5.50%	6.50%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table:

Joint GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	3.50%	4.50%	5.00%	6.00%

CONTRACT APPLICATIONS SIGNED BETWEEN MAY 1, 2018 AND APRIL 30, 2019:

The tables below list the GLWB Rider GAW% and Joint GAW% applicable for Contract applications signed between May 1, 2018 and April 30, 2019.

C-1

Guaranteed Lifetime Withdrawal Benefit Rider: The GAW% for a single Covered Person is based on the age when GAWs begin according to the following table:

GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	4.00%	5.10%	5.50%	6.50%

If there are Joint Covered Persons, a single GAW% is calculated based on the age of the younger Covered Person. This rate is the Joint GAW% and is based on the following table:

Joint GAW% Table
	Age 59 1⁄2 - 64	Age 65 - 69	Age 70 - 79	Age 80+
% of Benefit Base	3.50%	4.60%	5.00%	6.00%

Important Note for all applications signed between January 1, 2017, and April 30, 2018: As noted in your Prospectus and GLWB Rider, GAWs and Joint GAWs are calculated by multiplying the GAW% (or Joint GAW%) by your Benefit Base. Accordingly, for all Rate Sheet Supplements applicable to Contract applications signed between January 1, 2017 and April 30, 2018, the GAW% Tables and Joint GAW% Tables should reflect “% of Benefit Base” (rather than “% of Covered Fund Value”) as disclosed in the Prospectus and stated in your GLWB Rider.

C-2

VARIABLE ANNUITY-1 SERIES ACCOUNT

SCHWAB ONESOURCE CHOICE VARIABLE ANNUITY^TM

Individual Flexible Premium Deferred Variable Annuity Contracts

issued by

Great-West Life & Annuity Insurance Company  of New York
489 Fifth Ave., 28th Floor

New York, New York 10017
Telephone: (800) 537-2033

STATEMENT OF ADDITIONAL INFORMATION

This Statement of Additional Information is not a prospectus and should be read in conjunction with the Prospectus, dated May 1, 2019, which is available without charge by contacting the Retirement Resource Operations Center, P.O. Box 173920, Denver, Colorado 80217-3920 or at (800) 838-0650.

The date of this Statement of Additional Information is
May 1, 2019

i

TABLE OF CONTENTS

	Page
GENERAL INFORMATION	1
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK	1
AND THE VARIABLE ANNUITY-1 SERIES ACCOUNT	1
CALCULATION OF ANNUITY PAYOUTS	1
POSTPONEMENT OF PAYOUTS	1
SERVICES	2
WITHHOLDING	2
FINANCIAL STATEMENTS	3

ii

GENERAL INFORMATION

In order to supplement the description in the Prospectus, the following provides additional information about the Contracts and other matters which may be of interest to you. Terms not defined in this Statement of Additional Information have the same meanings as are defined in the Prospectus under the heading “Definitions.”

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

AND THE VARIABLE ANNUITY-1 SERIES ACCOUNT

Great-West Life & Annuity Insurance Company of New York (the “Company” or “Great-West”) (formerly known as First Great-West Life & Annuity Insurance Company, and before that as Canada Life Insurance Company of New York), the issuer of the Contract, is a New York corporation qualified to sell life insurance and annuity contracts in New York. It was qualified to do business on June 7, 1971. Great-West is a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company (“GWL&A”), a Colorado stock life insurance company. GWL&A is a wholly owned subsidiary of GWL&A Financial, Inc., a Delaware holding company. GWL&A Financial, Inc. is an indirect wholly-owned subsidiary of Great-West Lifeco Inc., a Canadian holding company. Great-West Lifeco Inc. is a subsidiary of Power Financial Corporation, a Canadian holding company with substantial interests in the financial services industry. Power Financial Corporation is a subsidiary of Power Corporation of Canada, a Canadian holding and management company. Through a group of private holding companies, The Desmarais Family Residuary Trust, which was created on October 8, 2013 under the Last Will and Testament of Paul G. Desmarais, has voting control of Power Corporation of Canada.

The assets allocated to the Variable Annuity-1 Series Account (the (“Series Account”) are the exclusive property of Great-West. Registration of the Series Account under the Investment Company Act of 1940 does not involve supervision of the management or investment practices or policies of the Series Account or of Great-West by the Securities and Exchange Commission. Great-West may accumulate in the Series Account proceeds from charges under the Contracts and other amounts in excess of the Series Account assets representing reserves and liabilities under the Contract and other variable annuity contracts issued by Great-West. Great-West may from time to time transfer to its general account any of such excess amounts. Under certain remote circumstances, the assets of one Sub-Account may not be insulated from liability associated with another Sub-Account.

On January 24, 2019, GWL&A announced that it had entered into an agreement with Protective Life Insurance Company (“Protective”) to sell, via indemnity reinsurance, substantially all of its non-participating individual life insurance and annuity business and group life and health business, including this Contract. Subject to the provision of certain services by GWL&A or its affiliates for a transitional period following the closing, Protective will agree to provide administration for the Contract in accordance with their terms and conditions. The transaction is expected to close in the first half of 2019, subject to regulatory approvals and customary closing conditions.

CALCULATION OF ANNUITY PAYOUTS

Variable Annuity Options

Great-West converts the Accumulation Units for each Investment Segment Sub-Account held by you into Annuity Units at their values determined as of the end of the valuation period which contains the Annuity Commencement Date. The number of Annuity Units paid for each Investment Segment Sub-Account is determined by dividing the amount of the first payment by the Annuity Unit value on the first valuation date preceding the date the first payout is due. The number of Annuity Units used to calculate each payout for an Investment Segment Sub-Account remains fixed during the Annuity Payout Period.

The first payment under a variable annuity payout option will be based on the value of each Investment Segment Sub-Account on the first valuation date preceding the Annuity Commencement Date. We will determine it by applying the appropriate rate to the amount applied under the payout option. Payments after the first will vary depending upon the investment experience of the Investment Segment Sub-Accounts. The subsequent amount paid is determined by multiplying (a) by (b) where (a) is the number of Annuity Units to be paid and (b) is the Annuity Unit value on the first valuation date preceding the date the annuity payout is due. The total amount of each variable annuity payout will be the sum of the variable annuity payments for each Sub-Account.

POSTPONEMENT OF PAYOUTS

With respect to amounts allocated to the Series Account, payout of any amount due upon a total or partial surrender, death or under an annuity option will ordinarily be made within seven days after all documents required for such payout are received by the Retirement Resource Operations Center. However, the determination, application or payout of any death benefit, Transfer, full surrender, partial withdrawal or annuity payout may be deferred to the extent dependent on Accumulation or

1

Annuity Unit Values, for any period during which the New York Stock Exchange is closed (other than customary weekend and holiday closings) or trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission, for any period during which any emergency exists as a result of which it is not reasonably practicable for Great-West to determine the investment experience of such Accumulation or Annuity Units or for such other periods as the Securities and Exchange Commission may by order permit for the protection of investors.

SERVICES

A.    Safekeeping of Series Account Assets

The assets of the Series Account are held by Great-West. The assets of the Series Account are kept physically segregated and held separate and apart from the general account of Great-West. Great-West maintains records of all purchases and redemptions of shares of the underlying Portfolios. Additional protection for the assets of the Series Account is afforded by a financial institution bond that includes fidelity coverage issued to Great-West Lifeco Inc. and subsidiary companies in the amount of $50 million (Canadian) per occurrence and $100 million (Canadian) in the aggregate, which covers all officers and employees of Great-West.

B.    Independent Registered Public Accounting Firm

Deloitte & Touche LLP, 1601 Wewatta St, Denver, CO 80202, serves as the Company’s and the Series Account’s independent registered public accounting firm.

The financial statements and financial highlights of each of the investment divisions of the Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York included in this Statement of Additional Information have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report appearing in the Registration Statement. The statutory financial statements of Great-West Life & Annuity Company of New York included in this Statement of Additional Information have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report appearing in the Registration Statement. Such statutory financial statements have so been included in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.

C.    Principal Underwriter

The offering of the Contracts is made on a continuous basis by GWFS Equities, Inc. (“GWFS”), an affiliate of Great-West. GWFS is a Delaware corporation, a broker-dealer registered with the Securities and Exchange Commission, and is a member of the Financial Industry Regulatory Authority (“FINRA”). Great-West does not anticipate discontinuing the offering of the Contract, although it reserves the right to do so. GWFS has received no underwriting commissions in connection with this offering since it has been offered. The Contract generally will be issued for Annuitants from birth to age eighty-five (85).

D.    Administrative Services

Great-West and GWL&A have entered into an Administrative Services Agreement dated August 1, 2003, as amended. Pursuant to the agreement, GWL&A performs certain corporate support services, investment services and other back office administrative services for Great-West. In addition, certain of GWL&A's property, equipment, and facilities are made available for Great-West for its operations. All charges for services and use of facilities to the extent practicable reflect actual costs, and are intended to be in accordance with New York Insurance Laws.

Certain administrative services are provided by GWFS to assist Great-West in processing the Contracts. These services are described in written agreements between GWFS and Great-West.

WITHHOLDING

Annuity payouts and other amounts received under the Contract are subject to income tax withholding unless the recipient elects not to have taxes withheld. The amounts withheld will vary among recipients depending on the tax status of the individual and the type of payouts from which taxes are withheld.

Notwithstanding the recipient's election, withholding may be required with respect to certain payouts to be delivered outside the United States and with respect to certain distributions from certain types of qualified retirement plans, unless the proceeds are transferred directly to another qualified retirement plan. Moreover, special “backup withholding” rules may require Great-West to disregard the recipient's election if the recipient fails to supply Great-West with a taxpayer identification number

2

(“TIN”) (social security number for individuals), or if the Internal Revenue Service notifies Great-West that the TIN provided by the recipient is incorrect.

Foreign Account Tax Compliance Act (“FATCA”)

We may be required to withhold at a rate of 30% under FATCA on certain distributions to foreign financial institutions and non-financial foreign entities holding accounts on behalf of and/or the assets of U.S. persons unless the foreign entities provide us with certain certifications regarding their status under FATCA on the applicable IRS forms. Prospective purchasers with accounts in foreign financial institutions or non-financial foreign entities are advised to consult with a competent tax advisor regarding the application of FATCA to their purchase situation.

FINANCIAL STATEMENTS

The financial statements of Great-West Life & Annuity Insurance Company of New York should be considered only as bearing upon Depositor's ability to meet its obligations under the Contracts, and they should not be considered as bearing on the investment performance of the Series Account. The variable interests of Contract Owners under the Contracts are affected solely by the investment results of the Series Account.

3

Great-West Life & Annuity Insurance Company of New York

(A wholly owned subsidiary of Great-West Life & Annuity Insurance Company)

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus as of December 31, 2018 and 2017 and

Related Statutory Statements of Operations, Changes in Capital and Surplus and Cash Flows for Each of the Three Years in the Period Ended December 31, 2018 and Report of Independent Registered Public Accounting Firm

Table of Contents

	Page     Number
Report of Independent Registered Public Accounting Firm	1
Statutory Financial Statements at December 31, 2018, and 2017 and for the Years Ended December 31, 2018, 2017 and 2016
Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus	3
Statutory Statements of Operations	5
Statutory Statements of Changes in Capital and Surplus	6
Statutory Statements of Cash Flows	7
Notes to the Statutory Financial Statements	9
Note 1 - Organization and Significant Accounting Policies	9
Note 2 - Changes in Accounting Principles	15
Note 3 - Related Party Transactions	16
Note 4 - Summary of Invested Assets	17
Note 5 - Fair Value Measurements	21
Note 6 - Non-Admitted Assets	23
Note 7 - Premiums Deferred and Uncollected	24
Note 8 - Reinsurance	24
Note 9 - Aggregate Reserves	24
Note 10 - Separate Accounts	26
Note 11 - Capital and Surplus, Dividend Restrictions, and Other Matters	27
Note 12 - Federal Income Taxes	28
Note 13 - Participating Insurance	33
Note 14 - Concentrations	33
Note 15 - Contingencies	33
Note 16 - Subsequent Events	34

  Deloitte & Touche LLP 1601 Wewatta Street Suite 400 Denver, CO 80202-3942 USA   Tel:     1 303 292 5400 Fax:    1 303 312 4000 www.deloitte.com

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholder of

Great-West Life & Annuity Insurance Company of New York

New York, New York

Opinion on the Statutory Financial Statements

We have audited the accompanying statutory statements of admitted assets, liabilities, and capital and surplus of Great-West Life & Annuity Insurance Company of New York (the “Company”) (a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company) as of December 31, 2018 and 2017, the related statutory statements of operations, changes in capital and surplus, and cash flows for each of the three years in the period ended December 31, 2018, and the related notes (collectively referred to as the “statutory financial statements”). In our opinion, because of the effects of the matters discussed in the following paragraph, the statutory financial statements do not present fairly, in conformity with accounting principles generally accepted in the United States of America, the financial position of the Company as of December 31, 2018 and 2017, or the results of its operations or its cash flows for each of the three years in the period ended December 31, 2018.

As described in Note 1 to the statutory financial statements, the statutory financial statements are prepared by the Company using the accounting practices prescribed or permitted by the New York State Department of Financial Services, which is a basis of accounting other than accounting principles generally accepted in the United States of America, to meet the requirements of the New York State Department of Financial Services. The effects on the statutory financial statements of the variances between the statutory-basis of accounting described in Note 1 to the statutory financial statements and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material.

In our opinion, the statutory financial statements present fairly, in all material respects, the admitted assets, liabilities, and capital and surplus of the Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2018, in conformity with accounting practices prescribed or permitted by the New York State Department of Financial Services, as described in Note 1 to the statutory financial statements.

Basis for Opinion

These statutory financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s statutory financial statements 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 the Company 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 in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the statutory financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the statutory 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 statutory 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 statutory financial statements. We believe that our audits provide a reasonable basis for our opinion.

Emphasis of Matter

As discussed in Note 1 to the statutory financial statements, the accompanying statutory financial statements have been prepared from separate records maintained by the Company and may not necessarily be indicative of conditions that would have existed or the results of operations if the Company had been operated as an unaffiliated company, as portions of certain expenses represent allocations made from affiliates.

March 26, 2019

We have served as the Company’s auditor since 1981

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus

December 31, 2018 and 2017

(In Thousands, Except Share Amounts)

	December 31,
	2018		2017
Admitted assets:
Cash and invested assets:
Bonds	$	1,290,067	$	1,253,814
Mortgage loans (net of allowances of $20 and $20)		75,980		90,690
Contract loans		20,155		25,411
Cash, cash equivalents and short-term investments		79,548		27,811
Securities lending collateral assets		16,556		—
Other invested assets		5,694		5,982
Total cash and invested assets		1,488,000		1,403,708
Investment income due and accrued		11,878		11,017
Premiums deferred and uncollected		1,964		2,185
Reinsurance recoverable		928		4,250
Deferred income taxes		6,053		5,649
Due from parent and affiliates		2,039		2,514
Other assets		7,434		7,741
Assets from separate accounts		681,575		761,399
Total admitted assets	$	2,199,871	$	2,198,463

See notes to statutory financial statements. Continued

3

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus

December 31, 2018 and 2017

(In Thousands, Except Share Amounts)

	December 31,
	2018		2017
Liabilities, capital and surplus:
Liabilities:
Aggregate reserves for life policies and contracts	$	1,392,937	$	1,320,402
Aggregate reserves for accident and health policies		177		167
Life and accident and health policy and contract claims		2,497		2,452
Liability for deposit-type contracts		1,955		2,191
Provision for policyholders’ dividends		2,600		3,100
Asset valuation reserve		7,938		7,156
Interest maintenance reserve		7,463		8,915
Due to parent and affiliates		3,335		2,539
Payable for securities lending collateral		16,556		—
Current federal income taxes payable to affiliate		227		—
Other liabilities		1,292		2,760
Liabilities from separate accounts		681,452		761,267
Total liabilities		2,118,429		2,110,949
Contingencies (See Note 15)
Capital and surplus:
Common stock, $1,000 par value; 10,000 shares authorized; 2,500 shares issued and outstanding		2,500		2,500
Gross paid in and contributed surplus		32,450		32,450
Unassigned funds		46,492		52,564
Total capital and surplus		81,442		87,514
Total liabilities, capital and surplus	$	2,199,871	$	2,198,463

See notes to statutory financial statements. Concluded

4

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Operations

Years Ended December 31, 2018, 2017 and 2016

(In Thousands)

	Year Ended December 31,
	2018			2017		2016
Income:
Premium income and annuity considerations	$	267,967		$	328,539	$	371,134
Net investment income		50,307			47,715		41,570
Amortization of interest maintenance reserve		1,236			1,506		1,876
Commission and expense allowances on reinsurance ceded		101			105		109
Fee income from separate accounts		4,017			3,625		3,156
Other income		10,965			9,572		9,857
Total income		334,593			391,062		427,702
Expenses:
Death benefits		10,778			12,489		8,371
Annuity benefits		10,660			10,222		9,953
Surrender benefits		222,163			193,461		151,560
Increase in aggregate reserves for life and accident and health policies and contracts		72,545			134,474		204,746
Other benefits		221			143		216
Total benefits		316,367			350,789		374,846
Commissions		14,482			15,939		14,929
Other insurance expenses		16,251			14,989		16,439
Net transfers to separate accounts		(10,143	)		1,435		20,511
Total benefits and expenses		336,957			383,152		426,725
Net (loss) gain from operations before dividends to policyholders, federal income taxes and net realized capital (losses) gains		(2,364	)		7,910		977
Dividends to policyholders		2,132			3,065		2,646
Net (loss) gain from operations after dividends to policyholders and before federal income taxes and net realized capital (losses) gains		(4,496	)		4,845		(1,669	)
Federal income tax expense		952			1,716		275
Net (loss) gain from operations before net realized capital (losses) gains		(5,448	)		3,129		(1,944	)
Net realized capital (losses) gains, less tax benefits of $46, $0 and $0, and transfers to interest maintenance reserve		(176	)		—		—
Net (loss) income	$	(5,624	)	$	3,129	$	(1,944	)

See notes to statutory financial statements.

5

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Changes in Capital and Surplus

Years Ended December 31, 2018, 2017 and 2016

(In Thousands)

	Year Ended December 31,
	2018			2017			2016
Capital and surplus, beginning of year	$	87,514		$	86,725		$	88,786
Net (loss) income		(5,624	)		3,129			(1,944	)
Change in net unrealized capital gains, net of income taxes		—			134			24
Change in net deferred income taxes		2,613			(5,876	)		2,472
Change in non-admitted assets		(2,271	)		4,476			(1,810	)
Change in asset valuation reserve		(782	)		(1,088	)		(807	)
Surplus withdrawn from separate accounts		—			6			15
Changes in capital and surplus as a result of separate accounts		(8	)		8			(11	)
Net change in capital and surplus for the year		(6,072	)		789			(2,061	)
Capital and surplus, end of year	$	81,442		$	87,514		$	86,725

See notes to statutory financial statements.

6

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Cash Flows

Years Ended December 31, 2018, 2017 and 2016

(In Thousands)

	Year Ended December 31,
	2018			2017			2016
Operating activities:
Premium income	$	267,526		$	327,526		$	370,310
Investment income received, net of investment expenses paid		50,757			47,769			41,539
Other miscellaneous income received		15,083			13,301			12,830
Benefit and loss related payments		(233,651	)		(221,110	)		(165,857	)
Net transfers to separate accounts		8,903			(3,766	)		(20,522	)
Commissions, other expenses and taxes paid		(30,893	)		(32,292	)		(30,929	)
Dividends paid to policyholders		(2,632	)		(2,865	)		(2,846	)
Federal income taxes paid, net		(512	)		(922	)		(3,956	)
Net cash provided by operating activities		74,581			127,641			200,569
Investing activities:
Proceeds from investments sold, matured or repaid:
Bonds		83,327			195,330			240,481
Mortgage loans		19,705			8,674			12,059
Other		394			—			—
Cost of investments acquired:
Bonds		(122,177	)		(344,580	)		(431,014	)
Mortgage loans		(5,000	)		—			(6,100	)
Other		—			(445	)		(6	)
Net change in contract loans		26			1,608			(1,281	)
Net cash used in investing activities	$	(23,725	)	$	(139,413	)	$	(185,861	)

See notes to statutory financial statements. Continued

7

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Statutory Statements of Cash Flows

Years Ended December 31, 2018, 2017 and 2016

(In Thousands)

	Year Ended December 31,
	2018		2017		2016
Financing and miscellaneous activities:
Deposit-type contract withdrawals, net of deposits	$	(334)	$	(359)	$	(449)
Other		1,215		6,761		(2,864)
Net cash provided by (used in) financing and miscellaneous activities		881		6,402		(3,313)
Net increase (decrease) in cash, cash equivalents and short-term investments		51,737		(5,370)		11,395
Cash, cash equivalents and short-term investments:
Beginning of year		27,811		33,181		21,786
End of year	$	79,548	$	27,811	$	33,181

See notes to statutory financial statements. Concluded

8

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

1. Organization and Significant Accounting Policies

Great-West Life & Annuity Insurance Company of New York (the “Company”) is a wholly-owned subsidiary of Great-West Life & Annuity Insurance Company (“GWL&A”). GWL&A is a direct wholly-owned subsidiary of GWL&A Financial Inc. (“GWL&A Financial”), a holding company. GWL&A Financial is a direct wholly-owned subsidiary of Great-West Lifeco U.S. LLC (“Lifeco U.S.”) and an indirect wholly-owned subsidiary of Great-West Lifeco Inc. (“Lifeco”), a Canadian holding company. The Company is incorporated as a stock life insurance company in the State of New York and is subject to regulation by the New York State Department of Financial Services (the “Department”). The Company is authorized to engage in the sale of life insurance, accident and health insurance and annuity products in the State of New York.

The statutory financial statements have been prepared from the separate records maintained by the Company and may not necessarily be indicative of the conditions that would have existed or the results of operations if the Company had been operated as an unaffiliated company.

Accounting policies and use of estimates

The Company prepares its statutory financial statements in conformity with accounting practices prescribed or permitted by the Department. The Department requires that insurance companies domiciled in the State of New York prepare their statutory financial statements in accordance with the National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual (“NAIC SAP”), subject to any deviations prescribed or permitted by the State of New York Superintendent of Financial Services.

The Department recognizes only statutory accounting practices prescribed or permitted by the State of New York for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under the New York Insurance Law. The NAIC SAP has been adopted as a component of prescribed or permitted practices by the Department. The Department has adopted certain prescribed accounting practices that differ from those found in NAIC SAP.    Specifically, for New York domiciled companies, the amount of ceded reserves are limited to the amount of direct reserves while NAIC SAP does not have this specific requirement.

A reconciliation of the Company’s capital and surplus and statutory net income between NAIC SAP and practices prescribed by the Department is shown below.

	Statutory Capital and Surplus									Statutory Net Income (Loss)
	December 31,									Year ended December 31,
	2018			2017			2016			2018			2017			2016
New York prescribed basis	$	81,442		$	87,514		$	86,725		$	(5,624	)	$	3,129		$	(1,944	)
State prescribed practices, ceded reserves
Ceded reserves		1,598			1,266			1,432			332			(166	)		356
Current income taxes on ceded reserves		(336	)		(443	)		(501	)		107			58			(125	)
NAIC SAP basis	$	82,704		$	88,337		$	87,656		$	(5,185	)	$	3,021		$	(1,713	)

Statutory accounting principles vary in some respects from accounting principles generally accepted in the United States of America (“GAAP”). The more significant of these differences are as follows:

• Bonds, including loan-backed and structured securities (collectively referred to as “bonds”), are carried at statutory adjusted carrying value in accordance with the National Association of Insurance Commissioners (“NAIC”) designation of the security. Carrying value is amortized cost, unless the bond is either (a) designated as a six, in which case it is the lower of amortized cost or fair value or (b) required to be carried at fair value due to the structured securities ratings methodology. Under GAAP, bonds are carried at amortized cost for securities classified as held-to-maturity and fair value for securities classified as available-for-sale and held-for-trading.

9

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

• Short-term investments include all investments whose remaining maturities, at the time of acquisition, are three months to one year. Under GAAP, short-term investments include securities purchased with investment intent and with initial remaining maturities of one year or less.

• As prescribed by the NAIC, the asset valuation reserve (“AVR”) is computed in accordance with a prescribed formula and represents a provision for possible credit-related fluctuations in the value of bonds. Changes to the AVR are charged or credited directly to unassigned surplus. This type of reserve is not necessary or required under GAAP.

• As prescribed by the NAIC, the interest maintenance reserve (“IMR”) consists of net accumulated unamortized realized capital gains and losses, net of income taxes, on sales or interest related impairments of bonds and mortgage loans attributable to changes in the general level of interest rates. Such gains or losses are initially deferred and then amortized into income over the remaining period to maturity, based on groupings of individual securities sold in five-year bands. An IMR asset is designated as a non-admitted asset and is recorded as a reduction to capital and surplus. Under GAAP, realized gains and losses are recognized in income in the period in which a security is sold.

• As prescribed by the NAIC, an other-than-temporary impairment (“OTTI”) is recorded (a) if it is probable that the Company will be unable to collect all amounts due according to the contractual terms in effect at the date of acquisition, (b) if the Company has the intent to sell the investment or (c) for non-interest related declines in value and where the Company does not have the intent and ability at the reporting date, to hold the bond until its recovery. Under GAAP, if either (a) management has the intent to sell a bond investment or (b) it is more likely than not the Company will be required to sell a bond investment before its anticipated recovery, a charge is recorded in net realized investment losses equal to the difference between the fair value and cost or amortized cost basis of the security. If management does not intend to sell the security and it is not more likely than not the Company will be required to sell the bond investment before recovery of its amortized cost basis, but the present value of the cash flows expected to be collected (discounted at the effective interest rate implicit in the bond investment prior to impairment) is less than the amortized cost basis of the bond investment (referred to as the credit loss portion), an OTTI is considered to have occurred.

Under GAAP, total OTTI is bifurcated into two components: the amount related to the credit loss, which is recognized in current period earnings through realized capital losses; and the amount attributed to other factors (referred to as the non-credit portion), which is recognized as a separate component in accumulated other comprehensive income (loss). As prescribed by the NAIC, non-interest related OTTI is only bifurcated on loan-backed and structured securities. Factors related to interest and other components do not have a financial statement impact and are disclosed in “Unrealized losses and OTTI” in the notes to the statutory financial statements.

• Acquisition costs, such as commissions and other costs incurred in connection with acquiring new business, are charged to operations as incurred, rather than deferred and amortized over the lives of the related contracts as under GAAP.

• Deferred income taxes are recorded using the asset and liability method in which deferred tax assets and liabilities are recorded for expected future tax consequences of events that have been recognized in either the Company’s statutory financial statements or tax returns. Deferred income tax assets are subject to limitations prescribed by statutory accounting principles. The change in deferred income taxes is treated as a component of the change in unassigned funds, whereas under GAAP deferred taxes are included in the determination of net income.

• Certain assets, including various receivables, furniture and equipment and prepaid assets, are designated as non-admitted assets and are recorded as a reduction to capital and surplus, whereas they are recorded as assets under GAAP.

• Aggregate reserves for life policies and contracts are based on statutory mortality and interest requirements and without consideration of withdrawals, which differ from reserves established under GAAP that are based on assumptions using Company experience for mortality, interest, and withdrawals.

• As prescribed by the Department, ceded reserves are limited to the amount of direct reserves. Ceded aggregate reserves and policy and contract claim liabilities are netted against aggregate reserves for life policies and contracts for statutory accounting purposes. Under GAAP, these items are reported as reinsurance recoverable.

10

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

• The policyholder’s share of net income on participating policies that has not been distributed to participating policyholders is included in capital and surplus in the statutory financial statements. For GAAP, these amounts are reported as a liability with a charge to net income.

• Changes in separate account values from cash transactions are recorded as premium income and benefit expenses whereas they do not impact the statement of operations under GAAP and are presented only as increases or decreases to account balances.

• Benefit payments and the related decrease in policy reserves are recorded as expenses for all contracts subjecting the Company to any mortality risk. Under GAAP, such benefit payments for life and annuity contracts without significant mortality risks are recorded as direct reductions to the policy reserve liability.

• Premium receipts and the related increase in policy reserves are recorded as revenues and expenses, respectively, for all contracts subjecting the Company to any mortality risk. Under GAAP, such premium receipts for life and annuity contracts without significant mortality risks are recorded as direct credits to the policy reserve liability.

• Comprehensive income and its components are not presented in the statutory financial statements.

• The Statutory Statement of Cash Flows is presented based on a prescribed format for statutory reporting. For purposes of presenting statutory cash flows, cash includes short-term investments. Under GAAP, the statement of cash flows is typically presented based on the indirect method and cash excludes short-term investments.

The preparation of financial statements in conformity with statutory accounting principles requires the Company’s management to make a variety of estimates and assumptions. These estimates and assumptions affect, among other things, the reported amounts of admitted assets and liabilities, the disclosure of contingent liabilities and the reported amounts of revenues and expenses. Significant estimates are required to account for items and matters such as, but not limited to, the valuation of investments in the absence of quoted market values, impairment of investments, valuation of policy benefit liabilities and the valuation of deferred tax assets. Actual results could differ from those estimates.

Significant statutory accounting policies

Investments

Investments are reported as follows:

• In accordance with the NAIC SAP, the adjusted carrying value amounts of certain assets are gross of non-admitted assets.

• Bonds are carried at statutory adjusted carrying value in accordance with the NAIC designation of the security. Carrying value is amortized cost, unless the bond is either (a) designated as a six, in which case it is the lower of amortized cost or fair value or (b) required to be carried at fair value due to the structured securities ratings methodology. The Company recognizes the acquisition of its public bonds on a trade date basis and its private placement investments on a funding date basis. Bonds containing call provisions are amortized to the call or maturity value/date which produces the lowest asset value.

Premiums and discounts are recognized as a component of net investment income using the effective interest method. Realized gains and losses not subject to IMR are included in net realized capital gains (losses).

The recognition of income on certain investments (e.g. loan-backed securities, including mortgage-backed and asset-backed securities) is dependent upon market conditions, which may result in prepayments and changes in amounts to be earned. Prepayments on all mortgage-backed and asset-backed securities are monitored monthly, and amortization of the premium and/or the accretion of the discount associated with the purchase of such securities are adjusted by such prepayments. Prepayment assumptions are based on the average of recent historical prepayments and are obtained from broker/dealer survey values or internal estimates. These assumptions are consistent with the current interest rate and economic environment. Significant changes in estimated cash flows from the original purchase assumptions are accounted for using the retrospective method.

Mortgage loans consist of domestic commercial collateralized loans and are carried at their unpaid principal balances adjusted for any unamortized premiums or discounts and allowances for credit losses. Interest income is accrued on the unpaid principal

11

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

balance for all loans, except for loans on non-accrual status. Premiums and discounts are amortized to net investment income using the effective interest method. Prepayment penalty and origination fees are recognized in net investment income upon receipt.

The Company actively manages its mortgage loan portfolio by completing ongoing comprehensive analysis of factors such as debt service coverage ratios, loan-to-value ratios, payment status, default or legal status, annual collateral property evaluations and general market conditions. On a quarterly basis, the Company reviews the above primary credit quality indicators in its internal risk assessment of loan impairment and credit loss. Management’s risk assessment process is subjective and includes the categorization of all loans, based on the above mentioned credit quality indicators, into one of the following categories:

• Performing - generally indicates the loan has standard market risk and is within its original underwriting guidelines.

• Non-performing - generally indicates there is a potential for loss due to the deterioration of financial/monetary default indicators or potential foreclosure. Due to the potential for loss, these loans are evaluated for impairment.

The adequacy of the Company’s mortgage provision allowance is reviewed quarterly. The determination of the calculation and the adequacy of the mortgage provision allowance and mortgage impairments involve judgments that incorporate qualitative and quantitative Company and industry mortgage performance data. Management’s periodic evaluation and assessment of the adequacy of the mortgage provision allowance and the need for mortgage impairments is based on known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the fair value of the underlying collateral, composition of the loan portfolio, current economic conditions, loss experience and other relevant factors. Loans included in the non-performing category and other loans with certain substandard credit quality indicators are individually reviewed to determine if a specific impairment is required. Risk is mitigated through first position collateralization, guarantees, loan covenants, and borrower reporting requirements. Since the Company does not originate or hold uncollateralized mortgages, loans are generally not deemed fully uncollectable. Generally, unrecoverable amounts are written off during the final stage of the foreclosure process.

Loan balances are considered past due when payment has not been received based on contractually agreed upon terms. The accrual of interest is discontinued when concerns exist regarding the realization of loan principal or interest. The Company resumes interest accrual on loans when a loan returns to current status or under new terms when loans are restructured or modified.

On a quarterly basis, any loans with terms that were modified during that period are reviewed to determine if the loan modifications constitute a troubled debt restructuring (“TDR”). In evaluating whether a loan modification constitutes a TDR, it must be determined that the modification is a significant concession and the debtor is experiencing financial difficulties.

• Contract loans are carried at their unpaid balance. Contract loans are fully collateralized by the cash surrender value of the associated insurance policy.

• The Company participates in a securities lending program in which the Company lends securities that are held as part of its general account investment portfolio to third parties. The Company does not enter into these types of transactions for liquidity purposes, but rather for yield enhancement on its investment portfolio. The borrower can return and the Company can request the loaned securities be returned at any time. The Company maintains ownership of the securities at all times and is entitled to receive from the borrower any payments for interest received on such securities during the loan term. Securities lending transactions are accounted for as secured borrowings. The securities on loan are included within bonds and short-term investments in the accompanying Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. The securities lending agent indemnifies the Company against borrower risk, meaning that the lending agent agrees contractually to replace securities not returned due to a borrower default. The Company generally requires initial cash collateral in an amount greater than or equal to 102% of the fair value of domestic securities loaned and 105% of foreign securities loaned. Such collateral is used to replace the securities loaned in event of default by the borrower. Some cash collateral is reinvested in short-term repurchase agreements which are also collateralized by U.S. Government or U.S. Government Agency securities. Reinvested cash collateral is reported in securities lending reinvested collateral assets, with a corresponding liability in other liabilities. Collateral that cannot be sold or repledged is excluded from the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus.

• Short-term investments include all investments whose remaining maturities, at the time of acquisition, are three months to one year. Cash equivalent investments include all investments whose remaining maturities, at the time of acquisition, are three months or less. Both short-term and cash equivalent investments, excluding money market mutual funds, are stated

12

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

at amortized cost, which approximates fair value. Cash equivalent investments also include highly liquid money market securities that are traded in an active market, and are carried at fair value.

• The Company’s OTTI accounting policy requires that a decline in the value of a bond below its cost or amortized cost basis be assessed to determine if the decline is other-than-temporary. An OTTI is recorded (a) if it is probable that the Company will be unable to collect all amounts due according to the contractual terms in effect at the date of acquisition, (b) if the Company has the intent to sell the investment or (c) for non-interest related declines in value and where the Company does not have the intent and ability at the reporting date, to hold the bond until its recovery. Management considers a wide range of factors, as described below, regarding the bond issuer and uses its best judgment in evaluating the cause of the decline in its estimated fair value and in assessing the prospects for near-term recovery. Inherent in management’s evaluation of the bond are assumptions and estimates about the operations and ability to generate future cash flows. While all available information is taken into account, it is difficult to predict the ultimate recoverable amount from a distressed or impaired bond.

Considerations used by the Company in the impairment evaluation process include, but are not limited to, the following:

• The extent to which estimated fair value is below cost;

• Whether the decline in fair value is attributable to specific adverse conditions affecting a particular instrument, its issuer, an industry or geographic area;

• The length of time for which the estimated fair value has been below cost;

• Downgrade of a bond investment by a credit rating agency;

• Deterioration of the financial condition of the issuer;

• The payment structure of the bond investment and the likelihood of the issuer being able to make payments in the future; and

• Whether dividends have been reduced or eliminated or scheduled interest payments have not been made.

For loan-backed and structured securities, if management does not intend to sell the bond and has the intent and ability to hold the bond until recovery of its amortized cost basis, but the present value of the cash flows expected to be collected (discounted at the effective interest rate implicit in the bond prior to impairment) is less than the amortized cost basis of the bond (referred to as the non-interest loss portion), an OTTI is considered to have occurred. In this instance, total OTTI is bifurcated into two components: the amount related to the non-interest loss is recognized in current period earnings through realized capital gains (losses); and the amount attributed to other factors does not have any financial impact and is disclosed only in the notes to the statutory financial statements. The calculation of expected cash flows utilized during the impairment evaluation process are determined using judgment and the best information available to the Company including default rates, credit ratings, collateral characteristics and current levels of subordination.

For bonds not backed by other loans or assets, if management does not intend to sell the bond and has the intent and ability to hold, but does not expect to recover the entire cost basis, an OTTI is considered to have occurred. A charge is recorded in net realized capital gains (losses) equal to the difference between the fair value and cost or amortized cost basis of the bond. After the recognition of an OTTI, the bond is accounted for as if it had been purchased on the measurement date of the OTTI, with an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in net income. The difference between the new amortized cost basis and the expected future cash flows is accreted into net investment income. The Company continues to estimate the present value of cash flows expected to be collected over the life of the bond.

Fair value

Certain assets and liabilities are recorded at fair value on the Company’s Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company categorizes its assets and liabilities measured at fair value into a three-level hierarchy, based on the priority of the inputs to the respective valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Company’s assets and liabilities have been categorized based upon the following fair value hierarchy:

• Level 1 inputs which are utilized for separate account assets and liabilities, utilize observable, quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

13

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

• Level 2 inputs utilize other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs, which are utilized for general and separate account assets and liabilities, include quoted prices for similar assets and liabilities in active markets and inputs, other than quoted prices, that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. The fair values for some Level 2 securities are obtained from pricing services. The inputs used by the pricing services are reviewed at least quarterly or when the pricing vendor issues updates to its pricing methodology. For bond and separate account assets and liabilities, inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, evaluated bids, offers and reference data including market research publications. Additional inputs utilized for assets and liabilities classified as Level 2 are:

¡ Separate account assets and liabilities - various index data and news sources, amortized cost (which approximates fair value), trading activity, swap curves, credit spreads, recovery rates, restructuring, net present value of cash flows and quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

• Level 3 inputs are unobservable and include situations where there is little, if any, market activity for the asset or liability. In general, the prices of Level 3 securities are obtained from single broker quotes and internal pricing models. If the broker’s inputs are largely unobservable, the valuation is classified as a Level 3.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability

Overall, transfers between levels are attributable to a change in the observability of inputs. Assets are transferred to a lower level in the hierarchy when a significant input cannot be corroborated with market observable data. This may occur when market activity decreases and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets are transferred to a higher level in the hierarchy when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity including recent trades, a specific event, or one or more significant input(s) becoming observable.

The policies and procedures utilized to review, account for, and report on the value and level of the Company’s securities were determined and implemented by the Finance division. The Investments division is responsible for the processes related to security purchases and sales and provides valuation and leveling input to the Finance division when necessary. Both divisions within the Company have worked in conjunction to establish thorough pricing, review, approval, accounting, and reporting policies and procedures around the securities valuation process.

In some instances, securities are priced using external broker quotes. In most cases, when broker quotes are used as pricing inputs, more than one broker quote is obtained. External broker quotes are reviewed internally by comparing the quotes to similar securities in the public market and/or to vendor pricing, if available. Additionally, external broker quotes are compared to market reported trade activity to ascertain whether the price is reasonable, reflective of the current market prices, and takes into account the characteristics of the Company’s securities.

Net investment income

Interest income from bonds is recognized when earned. Interest income on contract loans is recognized in net investment income at the contract interest rate when earned. All investment income due and accrued with amounts that are deemed uncollectible or that are over 90 days past due, including mortgage loans in default (“in process of foreclosure”), is not included in investment income. Amounts over 90 days past due are non-admitted assets and are recorded as a reduction to unassigned surplus.

Net realized capital gains (losses)

Realized capital gains and losses are reported as a component of net income and are determined on a specific identification basis. Interest-related gains and losses are primarily subject to IMR, while non-interest related gains and losses are primarily subject to AVR.

14

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Policy reserves

Life insurance and annuity policy reserves with life contingencies are computed on the basis of statutory mortality and interest requirements and without consideration for withdrawals. Annuity contract reserves without life contingencies are computed on the basis of statutory interest requirements.

Policy reserves for life insurance are valued in accordance with the provision of applicable statutory regulations. Life insurance reserves are determined principally using the Commissioner’s Reserve Valuation Method, using the statutory mortality and interest requirements, without consideration for withdrawals. Some policies contain a surrender value in excess of the reserve as legally computed. This excess is calculated and recorded on a policy-by-policy basis.

Premium stabilization reserves are calculated for certain policies to reflect the Company’s estimate of experience refunds and interest accumulations on these policies. The reserves are invested by the Company. The income earned on these investments is accumulated in this reserve and is used to mitigate future premium rate increases for such policies.

Policy reserves ceded to other insurance companies are recorded as a reduction of the reserve liabilities. The cost of reinsurance related to long-duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies.

Policy and contract claims include provisions for reported life and health claims in process of settlement, valued in accordance with the terms of the related policies and contracts, as well as provisions for claims incurred but not reported based primarily on prior experience of the Company. As such, amounts are estimates, and the ultimate liability may differ from the amount recorded. Any changes in estimates will be reflected in the results of operations when additional information becomes known.

The liabilities for health claim reserves are determined using historical run-out rates, expected loss ratios and statistical analysis. The Company provides for significant claim volatility in areas where experience has fluctuated. The liabilities represent estimates of the ultimate net cost of all reported and unreported claims which are unpaid at year-end. Those estimates are subject to considerable variability in claim severity and frequency. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known; such adjustments are included in current operations.

Premium, fee income and expenses

Life insurance premiums are recognized when due. Annuity considerations are recognized as revenue when received. Accident and health premiums are earned ratably over the terms of the related insurance and reinsurance contracts or policies. Life and accident and health insurance premiums received in advance are recorded as a liability and recognized as income when the premiums become earned. Fees from assets under management, assets under administration, shareholder servicing, mortality and expense risk charges, administration and record-keeping services and investment advisory services are recognized when earned in fee income or other income. Expenses incurred in connection with acquiring new insurance business, including acquisition costs such as sales commissions, are charged to operations as incurred.

Income taxes

The Company is included in the consolidated federal income tax return of Lifeco U.S. The federal income tax expense reported in the Statutory Statements of Operations represent income taxes provided on income that is currently taxable, excluding tax on net realized capital gains and losses. A net deferred tax asset is included in the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus which is recorded using the asset and liability method in which deferred tax assets and liabilities are recorded for expected future tax consequences of events that have been recognized in either the Company’s statutory financial statements or tax returns. Deferred income tax assets are subject to limitations prescribed by statutory accounting principles. The change in deferred income taxes is treated as a component of the change in unassigned funds.

2. Changes in Accounting Principles

In 2009, the NAIC introduced Principle-Based Reserving (“PBR”) as a new method for calculating life insurance policy reserves. PBR will replace the historic formulaic measure with one that more accurately reflects the risks of highly complex products. PBR is effective for 2017; however, companies are permitted to delay implementation until January 1, 2020. The Company will defer implementation and is currently evaluating impact of adoption of PBR on its financial statements.

15

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

3. Related Party Transactions

In the normal course of business, the Company enters into agreements with related parties whereby it provides and/or receives record-keeping services, investment advisory services, distribution and administrative services, and marketing services. The following table presents revenue earned, expenses incurred and expense reimbursement from related parties for services provided and/or received pursuant to these service agreements. These amounts, in accordance with the terms of the contracts, are based upon estimated costs incurred or resources expended as determined by number of policies, number of participants, certificates in-force, administered assets or other similar drivers.

		Year Ended December 31,									Financial   statement line
Description	Related party	2018			2017			2016
Provides marketing, distribution and administrative services to certain underlying funds and/or mutual funds.	GWFS Equities, Inc.(1)	$	10,002		$	10,406		$	9,825		Other income
Provides recordkeeping services.	GWL&A		2,551			2,423			2,096		Other income
Receives recordkeeping services.	FASCore, LLC (1)		(11,062	)		(9,313	)		(6,043	)	Other income
Receives investment advisory services.	GWL&A		(718	)		(639	)		(602	)	Net investment income
Receives recordkeeping services at cost.	FASCore, LLC (1)		—			—			1,164		Other insurance expenses

⁽¹⁾ A wholly-owned subsidiary of GWL&A.

Due to/from parent and affiliates represents non-interest bearing amounts which are due upon demand. Due to/from parent and affiliates include amounts receivable from or payable to Lifeco U.S. and subsidiaries of Lifeco U.S.

The following table summarizes amounts due from parent and affiliates:

					December 31,
Related party	Indebtedness		Due date		2018		2017
GWFS Equities, Inc.(1)		On account		On demand	$	2,034	$	2,510
Other related party receivables		On account		On demand		5		4
Total					$	2,039	$	2,514

⁽¹⁾ A wholly-owned subsidiary of GWL&A.

The following table summarizes amounts due to parent and affiliates:

					December 31,
Related party	Indebtedness		Due date		2018		2017
FASCore, LLC (1)		On account		On demand	$	2,867	$	1,588
GWL&A		On account		On demand		356		726
The Canada Life Assurance Company(2)		On account		On demand		112		221
Other related party payables		On account		On demand		—		4
Total					$	3,335	$	2,539

⁽¹⁾ A wholly-owned subsidiary of GWL&A.

⁽²⁾ An indirect wholly-owned subsidiary of Lifeco.

Included in current federal income taxes payable to affiliate at December 31, 2018 is $227 of income tax payable to Lifeco U.S. related to the consolidated income tax return filed by Lifeco U.S. Included in current federal income taxes recoverable from affiliate at December 31, 2017 is $110 of income tax receivable from Lifeco U.S. related to the consolidated income tax return filed by Lifeco U.S.

The Company and GWL&A have an agreement whereby GWL&A has committed to provide financial support related to the maintenance of adequate regulatory surplus and liquidity.

16

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

4. Summary of Invested Assets

Investments in bonds consist of the following:

	December 31, 2018
Bonds:	Book/adjusted     carrying value		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. government	$	14,493	$	85	$	340	$	14,238
U.S. states, territories and possessions		14,994		1,517		22		16,489
Political subdivisions of states and territories		31,065		2,564		43		33,586
Special revenue and special assessments		6,627		—		32		6,595
Industrial and miscellaneous		1,015,231		5,719		29,017		991,933
Loan-backed and structured securities		207,657		3,025		4,169		206,513
Total bonds	$	1,290,067	$	12,910	$	33,623	$	1,269,354
	December 31, 2017
Bonds:	Book/adjusted     carrying value		Gross unrealized gains		Gross unrealized losses		Fair value
U.S. government	$	13,127	$	75	$	—	$	13,202
U.S. states, territories and possessions		15,856		2,191		—		18,047
Political subdivisions of states and territories		31,086		3,403		—		34,489
Special revenue and special assessments		6,841		420		—		7,261
Industrial and miscellaneous		960,868		19,685		6,052		974,501
Loan-backed and structured securities		226,036		4,786		2,075		228,747
Total bonds	$	1,253,814	$	30,560	$	8,127	$	1,276,247

The book/adjusted carrying value and estimated fair value of bonds and assets receiving bond treatment, based on estimated cash flows, are shown in the table below. Actual maturities will likely differ from these projections because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	December 31, 2018
	Book/adjusted
	carrying value		Fair value
Due in one year or less	$	70,086	$	70,071
Due after one year through five years		361,476		357,467
Due after five years through ten years		480,741		467,882
Due after ten years		170,107		167,421
Loan-backed and structured securities		207,657		206,513
Total bonds	$	1,290,067	$	1,269,354

Loan-backed and structured securities include those issued by U.S. government and U.S. agencies.

The following table summarizes information regarding the sales of securities:

	December 31,
	2018		2017		2016
Proceeds from sales	$	38,025	$	144,282	$	199,512
Gross realized gains from sales		381		1,542		4,924
Gross realized losses from sales		413		2,960		876

17

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Unrealized losses on bonds

The following tables summarize gross unrealized investment losses including the non-credit-related portion of OTTI losses, by class of investment:

	December 31, 2018
	Less than twelve months				Twelve months or longer				Total
Bonds:	Fair value		Unrealized   loss and OTTI		Fair value		Unrealized   loss and OTTI		Fair value		Unrealized   loss and OTTI
U.S. government	$	12,312	$	340	$	—	$	—	$	12,312	$	340
U.S. states, territories and possessions		3,202		22		—		—		3,202		22
Political subdivisions of states and territories		6,365		43		—		—		6,365		43
Special revenue and special assessments		6,516		32		—		—		6,516		32
Industrial and miscellaneous		501,241		14,146		303,241		14,871		804,482		29,017
Loan-backed and structured securities		56,478		632		86,015		3,537		142,493		4,169
Total bonds	$	586,114	$	15,215	$	389,256	$	18,408	$	975,370	$	33,623
Total number of securities in an unrealized loss position				158				114				272
	December 31, 2017
	Less than twelve months				Twelve months or longer				Total
Bonds:	Fair value		Unrealized loss and OTTI		Fair value		Unrealized loss and OTTI		Fair value		Unrealized loss and OTTI
Industrial and miscellaneous	$	214,866	$	2,043	$	126,918	$	4,009	$	341,784	$	6,052
Loan-backed and structured securities		55,653		361		54,356		1,714		110,009		2,075
Total bonds	$	270,519	$	2,404	$	181,274	$	5,723	$	451,793	$	8,127
Total number of securities in an unrealized loss position				78				52				130

Bonds - Total unrealized losses and OTTI increased by $25,496, or 314%, from December 31, 2017 to December 31, 2018. The increase in unrealized losses was across all asset classes and reflects higher interest rates at December 31, 2017, compared to December 31, 2017, resulting in lower valuations of these bonds.

Total unrealized losses greater than twelve months increased by $12,685 from December 31, 2017 to December 31, 2018. Industrial and miscellaneous securities account for 81% of the unrealized losses and OTTI greater than twelve months at December 31, 2018. The majority of these bonds continue to be designated as investment grade. Management does not have the intent to sell these assets; therefore, an OTTI was not recognized in net income.

Loan-backed and structured securities account for 19%, or $3,537, of the unrealized losses and OTTI greater than twelve months at December 31, 2018. These securities continue to be rated investment grade. The present value of the cash flows expected to be collected is not less than amortized cost and management does not have the intent to sell these assets; therefore, an OTTI was not recognized in net income.

Loan-backed and structured securities

The Company had a concentration in loan-backed and structured securities of 14% and 16% of total invested assets at December 31, 2018 and 2017, respectively.

18

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Securities lending

Securities with a cost or amortized cost of $16,588 and estimated fair values of $16,033 were on loan under the program at December 31, 2018. There were no securities on loan at December 31, 2017. The Company received cash of $16,556 as collateral at December 31, 2018.

The following table summarizes the securities on loan by category at December 31, 2018:

	Book/adjusted carrying   value		Fair value
Government - Treasury	$	12,652	$	12,312
Industrial and Miscellaneous		3,936		3,721
Total	$	16,588	$	16,033

The Company’s securities lending agreements are open agreements meaning the borrower can return and the Company can recall the loaned securities at any time.

The cash collateral received of $16,556 was reinvested into short-term repurchase agreements which are collateralized by U.S. government or U.S. government agency securities and mature in under 30 days.

Restricted Assets

At December 31, 2018 and 2017, the Company had investments with a book/adjusted carrying value of $1,842 and $267, respectively, on deposit or in trust accounts controlled by various state insurance departments in accordance with statutory requirements. Additionally, the Company held collateral under securities lending agreements in the amount of $16,556 and $0 as of December 31, 2018 and December 31, 2017, respectively. The total restricted assets amount represents less than 1% of both total assets and total admitted assets at December 31, 2018 and 2017.

Net Investment Income

The following table summarizes net investment income:

	Year Ended December 31,
	2018		2017		2016
Bonds	$	45,776	$	42,163	$	35,770
Mortgage loans		3,486		4,396		4,855
Contract loans		838		1,079		1,154
Cash, cash equivalents and short-term investments		624		382		74
Other invested assets		267		270		272
Miscellaneous income		34		64		47
Gross investment income		51,025		48,354		42,172
Expenses		(718)		(639)		(602)
Net investment income	$	50,307	$	47,715	$	41,570

19

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following table summarizes net realized capital (losses) gains on investments net of federal income tax and interest maintenance reserve transfer:

	Year Ended December 31,
	2018		2017		2016
Net realized capital (losses) gains, before federal income tax	$	(495)	$	(1,180)	$	4,012
Less: Federal income tax (benefit) expense		(103)		(413)		(1,404)
Net realized capital (losses) gains, before IMR transfer		(392)		(767)		2,608
Net realized capital (losses) gains transferred to IMR, net of federal income tax (benefit) of ($57), ($413) and $1,404, respectively		(216)		(767)		2,608
Net realized capital (losses) gains, net of federal income (benefit) tax of ($46), $0 and $0, respectively, and IMR transfer	$	(176)	$	—	$	—

Concentrations

The Company had the following bond concentrations based on total invested assets:

	Concentration by type
	December 31,
	2018	2017
Industrial and miscellaneous	80%	82%
	Concentration by industry
	December 31,
	2018	2017
Financial services	25%	25%

Mortgage Loans

The recorded investment of the commercial mortgage loan portfolio categorized as performing was $76,000 and $90,710 as of December 31, 2018 and 2017, respectively. All mortgages were current as of December 31, 2018 and 2017.

The maximum and minimum lending rates for commercial mortgage loans originated during the year ended December 31, 2018 were 4.31%. During 2018, the maximum percentage of any one loan to the value of security at the time of the loan, exclusive of insured or guaranteed or purchase money mortgages, was 48%. There were no new fundings during the year ended December 31, 2017.

The following table summarizes activity in the commercial mortgage provision allowance for the years ended December 31, 2018 and 2017:

	December 31,
	2018		2017
Beginning balance	$	20	$	74
Recoveries of amounts previously charged off		—		(54)
Ending balance	$	20	$	20

20

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following tables present concentrations of the total commercial mortgage portfolio:

	Concentration by type
	December 31,
	2018	2017
Multi-family	38%	32%
Retail	25%	22%
Industrial	21%	38%
Office	14%	6%
Other	2%	2%
	100%	100%
	Concentration by geographic area
	December 31,
	2018	2017
Pacific	56%	61%
South Atlantic	17%	15%
East North Central	13%	11%
Middle Atlantic	7%	7%
West North Central	7%	—%
Mountain	—%	6%
	100%	100%

5. Fair Value Measurements

The following tables summarize the fair value hierarchy for all financial instruments and invested assets:

					Fair Value Measurements at Reporting Date
Type of financial instrument					December 31, 2018
Assets:	Aggregate fair value		Admitted assets and liabilities		(Level 1)		(Level 2)		(Level 3)		Net Asset Value (NAV)		Total (All Levels)
Bonds	$	1,269,354	$	1,290,067	$	—	$	1,269,354	$	—	$	—	$	1,269,354
Mortgage Loans		76,552		75,980		—		76,552		—		—		76,552
Cash, cash equivalents and short-term investments		79,548		79,548		79,548		—		—		—		79,548
Contract loans		20,166		20,155		—		20,166		—		—		20,166
Other long term invested assets		5,640		5,349		—		5,640		—		—		5,640
Securities lending reinvested collateral assets		16,556		16,556		—		16,556		—		—		16,556
Receivable for securities		345		345		—		345		—		—		345
Separate accounts assets		681,575		681,575		678,545		265		—		2,765		681,575
Total assets	$	2,149,736	$	2,169,575	$	758,093	$	1,388,878	$	—	$	2,765	$	2,149,736
Liabilities:
Deposit-type contracts	$	1,952	$	1,955	$	—	$	1,952	$	—	$	—	$	1,952
Payable under securities lending agreement		16,556		16,556		—		16,556		—		—		16,556
Payable for securities		152		152		—		152		—		—		152
Total liabilities	$	18,660	$	18,663	$	—	$	18,660	$	—	$	—	$	18,660

21

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

					Fair Value Measurements at Reporting Date
Type of financial instrument					December 31, 2017
Assets:	Aggregate fair value		Admitted assets and liabilities		(Level 1)		(Level 2)		(Level 3)		Total (All Levels)
Bonds	$	1,276,247	$	1,253,814	$	—	$	1,276,247	$	—	$	1,276,247
Mortgage Loans		93,720		90,690		—		93,720		—		93,720
Cash, cash equivalents and short-term investments		27,811		27,811		27,811		—		—		27,811
Contract loans		25,426		25,411		—		25,426		—		25,426
Other long term invested assets		6,002		5,394		—		6,002		—		6,002
Receivable for securities		588		588		—		588		—		588
Separate accounts assets		761,399		761,399		757,863		3,536		—		761,399
Total assets	$	2,191,193	$	2,165,107	$	785,674	$	1,405,519	$	—	$	2,191,193
Liabilities:
Deposit-type contracts	$	2,193	$	2,191	$	—	$	2,193	$	—	$	2,193
Total liabilities	$	2,193	$	2,191	$	—	$	2,193	$	—	$	2,193

Bonds

The fair values for bonds are generally based upon evaluated prices from independent pricing services. In cases where these prices are not readily available, fair values are estimated by the Company. To determine estimated fair value for these instruments, the Company generally utilizes discounted cash flow models with market observable pricing inputs such as spreads, average life, and credit quality. Fair value estimates are made at a specific point in time, based on available market information and judgments about financial instruments, including estimates of the timing and amounts of expected future cash flows and the credit standing of the issuer or counterparty.

Mortgage loans

Mortgage loan fair value estimates are generally based on discounted cash flows. A discount rate matrix is used where the discount rate valuing a specific mortgage generally corresponds to that mortgage’s remaining term and credit quality. Management believes the discount rate used is comparable to the credit, interest rate, term, servicing costs, and risks of loans similar to the portfolio loans that the Company would make today given its internal pricing strategy.

Cash, cash equivalents, short-term investments, collateral receivable and payable under securities lending agreements and receivable and payable for securities

The amortized cost of cash, cash equivalents, short-term investments, collateral receivable and payable under securities lending agreements and receivable and payable for securities is a reasonable estimate of fair value due to their short-term nature and the high credit quality of the issuers and obligors. Cash equivalent investments also include money market funds that are valued using unadjusted quoted prices in active markets.

Contract loans

The Company believes the fair value of contract loans approximates book value. Contract loans are funds provided to contract holders in return for a claim on the contract. The funds provided are limited to the cash surrender value of the underlying contract. The nature of contract loans is to have a negligible default risk as the loans are fully collateralized by the value of the contract. Contract loans do not have a stated maturity and the balances and accrued interest are repaid either by the contractholder or with proceeds from the contract. Due to the collateralized nature of contract loans and unpredictable timing of repayments, the Company believes the fair value of contract loans approximates carrying value.

22

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Other long-term invested assets

The fair values of other long-term invested assets are based on the specific asset type. Other invested assets that are held as bonds, such as surplus notes, are primarily valued the same as bonds.

Separate account assets

Separate account assets and liabilities primarily include investments in mutual funds, unregistered funds, most of which are not subject to redemption restrictions, bonds, and short-term securities. Mutual funds and unregistered funds are recorded at net asset value, which approximates fair value, on a daily basis. The bond and short-term investments are valued in the same manner, and using the same pricing sources and inputs as the bond and short-term investments of the Company.

Deposit-type contracts

Fair values for liabilities under deposit-type insurance contracts are estimated using discounted liability calculations, adjusted to approximate the effect of current market interest rates for the assets supporting the liabilities.

Fair Value Hierarchy

The following tables present the Company’s financial assets carried at fair value and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

	Fair Value Measurements at Reporting Date
	December 31, 2018
							Net Asset		Total
Assets:	(Level 1)		(Level 2)		(Level 3)		Value (NAV)		(All Levels)
Separate account assets (1)	$	678,545	$	265	$	—	$	2,765	$	681,575
Total assets at fair value	$	678,545	$	265	$	—	$	2,765	$	681,575
(1) Includes only separate account investments which are carried at the fair value of the underlying invested assets or liabilities owned by the separate accounts.
	Fair Value Measurements at Reporting Date
	December 31, 2017
							Net Asset		Total
Assets:	(Level 1)		(Level 2)		(Level 3)		Value (NAV)		(All Levels)
Separate account assets (1)	$	757,863	$	3,536	$	—	$	—	$	761,399
Total assets at fair value	$	757,863	$	3,536	$	—	$	—	$	761,399

⁽¹⁾  Includes only separate account investments which are carried at the fair value of the underlying invested assets or liabilities owned by the separate accounts.

6. Non-Admitted Assets

The following table summarizes the Company’s non-admitted assets:

	December 31, 2018						December 31, 2017
Type	Asset		Non-admitted  asset		Admitted     asset		Asset		Non-admitted  asset		Admitted     asset
Contract loans	$	20,166	$	11	$	20,155	$	25,426	$	15	$	25,411
Premiums deferred and uncollected		1,970		6		1,964		2,195		10		2,185
Deferred income taxes		13,923		7,870		6,053		11,310		5,661		5,649
Other assets		7,896		462		7,434		8,132		392		7,741
Total	$	43,955	$	8,349	$	35,606	$	47,063	$	6,078	$	40,986

23

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

7. Premiums Deferred and Uncollected

The following table summarizes the Company’s ordinary life insurance premiums and annuity considerations deferred and uncollected, both gross and net of loading:

	December 31, 2018				December 31, 2017
Type	Gross		Net of loading		Gross		Net of loading
Ordinary new business	$	9	$	1	$	11	$	1
Ordinary renewal business		2,228		1,963		2,476		2,184
Total	$	2,237	$	1,964	$	2,487	$	2,185

8. Reinsurance

In the normal course of its business, the Company seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding risks to other insurance enterprises under excess coverage, quota share, yearly renewable term and coinsurance contracts. On existing business, the Company retains a maximum of $250 of coverage per individual life. For new term life insurance policies, the Company retains 100% of the first $50 of coverage per individual life and 50% of coverage in excess of $50 up to a maximum retention of $250 per individual life. For new business-owned life insurance policies, the Company retains 100% of the first $250 per individual life. New term and business-owned life insurance policies are reinsured to GWL&A. The Company does not assume new business under reinsurance agreements.

Ceded reinsurance contracts do not relieve the Company from its obligations to policyholders. The failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies.

The Company did not have any write-offs for uncollectible reinsurance receivables during the years ended December 31, 2018 and 2017 for losses incurred, loss adjustment expenses incurred or premiums earned.

The Company does not have any uncollectible reinsurance, commutation of ceded reinsurance, or certified reinsurer downgraded of status subject to revocation.

9. Aggregate Reserves

Aggregate reserves are computed in accordance with the Commissioner’s Annuity Reserve Valuation Method (“CARVM”) and the Commissioner’s Reserve Valuation Method (“CRVM”), the standard statutory reserving methodologies.

The significant assumptions used to determine the liability for future life insurance benefits are as follows:

Interest	- Life Insurance	2.25% to 6.00%
	- Annuity Funds	3.50% to 11.25%
	- Disability	3.00% to 6.00%
Mortality	- Life Insurance	Various valuation tables, primarily including 1941, 1958, 1980 and 2001 Commissioners Standard Ordinary (“CSO”) tables, and American Experience
	- Annuity Funds	Various annuity valuation tables, primarily including the 71 and 83a Individual Annuitant Mortality (“IAM”), Annuity 2000, and the 1971 and 1983 Group Annuity Mortality (“GAM”) Table
Morbidity	- Disability	Various disability tables, primarily including 58 and 80 CSO, 64 CDT and 1970 Intercompany DISA.

The Company waives deduction of deferred fractional premium upon the death of the insured for all issues and returns any portion of the final premium beyond the date of death for 1980 and later issues of Canada Life of New York. When surrender values exceed aggregate reserves, excess cash value reserves are held.

24

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

Policies issued at premium corresponding to ages higher than the true ages are valued at the rated-up ages. Policies providing for payment at death during certain periods of an amount less than the full amount of insurance, being policies subject to liens, are valued as if the full amount is payable without any deduction.

For policies issued with, or subsequently subject to, an extra premium payable annually, an extra reserve is held. The extra premium reserve is the unearned gross extra premium payable during the year if the policies are rated for reasons other than medical impairments. For medical impairments, the extra premium reserve is calculated as the excess of the reserve based on rated mortality over that based on standard mortality. All substandard annuities are valued at their true ages.

At December 31, 2018 and 2017, the Company had $745,357 and $769,848, respectively of insurance in force, before reinsurance ceded, for which the gross premiums are less than the net premiums according to the standard of valuation set by the Department.

Tabular interest and tabular cost have been determined from the basic data for the calculation of aggregate reserves. Tabular less actual reserves released and tabular interest on funds not involving life contingencies have been determined by formula.

The withdrawal characteristics of annuity reserves and deposit liabilities are as follows:

	December 31, 2018
	General       Account		Separate Account   Nonguaranteed		Total		Percent of total   gross
Subject to discretionary withdrawal:
With market value adjustment	$	354	$	—	$	354		—%
At book value less current surrender charges of 5% or more		—		—		—		—%
At fair value		—		632,537		632,537		47.3%
Total with adjustment or at market value		354		632,537		632,891		47.3%
At book value without adjustment (minimal or no charge or adjustment)		7,841		—		7,841		0.6%
Not subject to discretionary withdrawal		697,629		—		697,629		52.1%
Total gross		705,824		632,537		1,338,361		100.0%
Reinsurance ceded		20		—		20
Total, net	$	705,804	$	632,537	$	1,338,341
	December 31, 2017
	General Account		Separate Account Nonguaranteed		Total		Percent of total gross
Subject to discretionary withdrawal:
With market value adjustment	$	274	$	—	$	274		—%
At book value less current surrender charges of 5% or more		—		—		—		—%
At fair value		—		722,432		722,432		51.7%
Total with adjustment or at market value		274		722,432		722,706		51.7%
At book value without adjustment (minimal or no charge or adjustment)		8,123		—		8,123		0.6%
Not subject to discretionary withdrawal		666,640		—		666,640		47.7%
Total gross		675,037		722,432		1,397,469		100.0%
Reinsurance ceded		—		—		—
Total, net	$	675,037	$	722,432	$	1,397,469

25

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following information is obtained from the applicable exhibit in the Company’s December 31, 2018 and 2017 annual statements and related separate account annual statement, both of which are filed with the Division and is provided to reconcile annuity reserves and deposit funds to amounts reported in the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus:

	December 31,
	2018		2017
Life and Accident and Health Annual Statement (net of reinsurance):
Annuities included in aggregate reserve for life policies and contracts	$	703,471	$	672,350
Supplementary contracts with life contingencies included in aggregate reserve for life policies and contracts		378		496
Liability for deposit-type contracts		1,955		2,191
Sub-total general account		705,804		675,037
Separate Accounts Annual Statement:
Annuities included in aggregate reserve for life policies and contracts		632,537		722,432
Total	$	1,338,341	$	1,397,469

10. Separate Accounts

The Company utilizes separate accounts to record and account for assets and liabilities for particular lines of business and/or transactions. The Company reported assets and liabilities from the following product lines into a separate account:

• Individual Annuity Product

• Group Annuity Product

• Variable Life Insurance Product

All the products are classified as separate accounts for the statutory financial statements.

Separate account assets and related liabilities are carried at fair value in the accompanying Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus. The Company’s separate accounts invest in shares of Great-West Funds, Inc. and Putnam Funds, open-end management investment companies, which are related parties of the Company, and shares of other non-affiliated mutual funds.

All assets within each of the Company’s separate accounts are considered legally insulated from the general account at December 31, 2018. The legal insulation of the separate accounts prevents such assets from being generally available to satisfy claims resulting from the general account. At December 31, 2018 and 2017, the Company’s separate account assets that are legally insulated from the general account claims are $681,575 and $761,399, respectively.

All separate accounts are non-guaranteed separate accounts and include unit investment trusts, or series accounts that invest in diversified open-end management investment companies. The investments in shares are valued at the closing net asset value as determined by the appropriate fund/portfolio at the end of each day. The net investment experience of the separate account is credited directly to the policyholder and can be positive or negative. Some of the separate accounts provide an incidental death benefit of the greater of the policyholder’s account balance or premium paid and some provide an incidental annual withdrawal benefit for the life of the policyholder.

26

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following tables provide information regarding the Company’s separate accounts:

	Year Ended December 31,
	2018		2017
Premiums, considerations or deposits	$	110,705	$	101,643
Reserves:
For accounts with assets at:
Fair value	$	664,248	$	752,766
Total reserves	$	664,248	$	752,766
By withdrawal characteristics:
At fair value	$	664,248	$	752,769
Total subject to discretionary withdrawals	$	664,248	$	752,769

A reconciliation of the amounts transferred to and from the separate accounts is presented below:

	Year Ended December 31,
	2018			2017			2016
Transfers as reported in the Summary of Operations of the separate account statement:
Transfers to separate accounts	$	110,705		$	101,643		$	99,726
Transfers from separate accounts		(150,178	)		(115,482	)		(104,600	)
Net transfers from separate accounts		(39,473	)		(13,839	)		(4,874	)
Reconciling adjustments:
Net transfer of reserves to separate accounts		29,330			15,274			25,385
Net transfers as reported in the Statements of Operations	$	(10,143	)	$	1,435		$	20,511

11. Capital and Surplus, Dividend Restrictions, and Other Matters

As an insurance company domiciled in the State of New York, the Company is required to maintain a minimum of $2,250 of capital and surplus. Dividends are paid as determined by the Board of Directors, subject to restrictions as discussed below. The Company did not pay dividends during the years ended December 31, 2018 and 2017.

The maximum amount of dividends which can be paid to shareholders by insurance companies domiciled in the State of New York, without prior approval of the Superintendent of Financial Services, is subject to restrictions relating to statutory surplus and statutory net gain from operations. The Company may pay up to $0 of dividends during the year ended December 31, 2019 without the approval of the Superintendent. Dividends are non-cumulative.

The portion of unassigned funds (surplus) represented or (reduced) by each of the following items is:

	December 31,
	2018			2017
Unrealized gains	$	801		$	801
Non-admitted assets		(8,349	)		(6,078	)
Asset valuation reserve		(7,938	)		(7,156	)
Separate account business		139			148

Risk-based capital (“RBC”) is a regulatory tool for measuring the minimum amount of capital appropriate for a life, accident and health organization to support its overall business operations in consideration of its size and risk profile. The Division requires the Company to maintain minimum capital and surplus equal to the company action level as calculated in the RBC model. The Company exceeds the required amount.

27

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

12. Federal Income Taxes

The following table presents the components of the net admitted deferred tax asset (liability):

	December 31, 2018						December 31, 2017						Change
	Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary		Capital		Total
Gross deferred tax assets	$	14,937	$	608	$	15,545	$	11,955	$	469	$	12,424	$	2,982	$	139	$	3,121
Valuation allowance adjustment		—		—		—		—		—		—		—		—		—
Adjusted gross deferred tax asset		14,937		608		15,545		11,955		469		12,424		2,982		139		3,121
Deferred tax assets non-admitted		(7,536)		(334)		(7,870)		(5,544)		(117)		(5,661)		(1,992)		(217)		(2,209)
Net admitted deferred tax asset		7,401		274		7,675		6,411		352		6,763		990		(78)		912
Gross deferred tax liabilities		(1,622)		—		(1,622)		(1,114)		—		(1,114)		(508)		—		(508)
Net admitted deferred tax asset	$	5,779	$	274	$	6,053	$	5,297	$	352	$	5,649	$	482	$	(78)	$	404

The Company admits deferred tax assets pursuant to paragraphs 11.a, 11.b.i, 11.b.ii, and 11.c, in SSAP No. 101. The following tables present the amount of deferred tax asset admitted under each component of SSAP No. 101:

		December 31, 2018						December 31, 2017						Change
		Ordinary		Capital		Total		Ordinary		Capital		Total		Ordinary		Capital		Total
(a)	Federal income taxes paid in prior years recoverable through loss carrybacks	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
(b)	Adjusted gross deferred tax assets expected to be realized (excluding the amount of deferred tax assets from (a) above) after application of the threshold limitation (lesser of (i) and (ii) below)		5,779		274		6,053		5,297		352		5,649		482		(78)		404
	(i) Adjusted gross deferred tax assets expected to be realized following the balance sheet date		5,779		274		6,053		5,297		352		5,649		482		(78)		404
	(ii) Adjusted gross deferred tax assets expected allowed per limitation threshold						11,308						12,280						(972)
(c)	Adjusted gross deferred tax assets (excluding the amount of deferred tax assets from (a) and (b) above) offset by gross deferred tax liabilities		1,622		—		1,622		1,114		—		1,114		508		—		508
	Total deferred tax assets admitted as a results of the application of SSAP No. 101	$	7,401	$	274	$	7,675	$	6,411	$	352	$	6,763	$	990	$	(78)	$	912

The following table presents the threshold limitations utilized in the admissibility of deferred tax assets under paragraph 11.b of SSAP No. 101:

	2018		2017
Ratio percentage used to determine recovery period and threshold limitation amount		806.12%		931.85%
Amount of adjusted capital and surplus used to determine recovery period and threshold limitation	$	75,389	$	82,270

28

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The following table presents the impact of tax planning strategies:

	December 31, 2018				December 31, 2017				Change
	Ordinary		Capital		Ordinary		Capital		Ordinary		Capital
Adjusted gross deferred tax asset	$	14,937	$	608	$	11,955	$	469	$	2,982	$	139
% of adjusted gross deferred tax asset by character attributable to tax planning strategies		—%		—%		—%		—%		—%		—%
Net admitted adjusted gross deferred tax assets	$	7,401	$	274	$	6,411	$	352	$	990	$	(78)
% of net admitted adjusted gross deferred tax asset by character attributable to tax planning strategies		—%		—%		—%		—%		—%		—%

The Company’s tax planning strategies do not include the use of reinsurance.

There are no temporary differences for which deferred tax liabilities are not recognized.

The components of current income taxes incurred include the following:

	Year Ended December 31,
	2018		2017		Change
Current income tax	$	952	$	1,716	$	(764)
Federal income tax (benefit) on net capital gains		(103)		(413)		310
Total	$	849	$	1,303	$	(454)
	Year Ended December 31,
	2017		2016		Change
Current income tax	$	1,716	$	275	$	1,441
Federal income tax (benefit) on net capital gains		(413)		1,404		(1,817)
Total	$	1,303	$	1,679	$	(376)

29

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The tax effects of temporary differences, which give rise to the deferred income tax assets and liabilities are as follows:

	December 31,
Deferred income tax assets:	2018			2017			Change
Ordinary:
Reserves	$	6,261		$	3,624		$	2,637
Deferred acquisition costs		6,899			6,289			610
Provision for dividends		546			651			(105	)
Compensation and benefit accrual		184			227			(43	)
Receivables - non-admitted		77			79			(2	)
Tax credit carryforward		830			980			(150	)
Other		140			105			35
Total ordinary gross deferred tax assets		14,937			11,955			2,982
Valuation allowance adjustment		—			—			—
Total adjusted ordinary gross deferred tax assets		14,937			11,955			2,982
Non-admitted ordinary deferred tax assets		(7,536	)		(5,544	)		(1,992	)
Admitted ordinary deferred tax assets		7,401			6,411			990
Capital:
Investments		608			468			140
Total capital gross deferred tax assets		608			468			140
Valuation allowance adjustment		—			—			—
Total adjusted gross capital deferred tax assets		608			468			140
Non-admitted capital deferred tax assets		(334	)		(117	)		(217	)
Admitted capital deferred tax assets		274			351			(77	)
Total admitted deferred tax assets	$	7,675		$	6,762		$	913
Deferred income tax liabilities:
Ordinary:
Investments	$	(304	)	$	(158	)	$	(146	)
Premium receivable		(412	)		(459	)		47
Policyholder Reserves		(906	)		(496	)		(410	)
Total ordinary deferred tax liabilities		(1,622	)		(1,113	)		(509	)
Net admitted deferred income tax asset	$	6,053		$	5,649		$	404

30

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

The change in deferred income taxes reported in surplus before consideration of non-admitted assets is comprised of the following components:

	December 31,
	2018			2017			Change
Total deferred income tax assets	$	15,545		$	12,423		$	3,122
Total deferred income tax liabilities		(1,622	)		(1,113	)		(509	)
Net deferred income tax asset	$	13,923		$	11,310
Tax effect of unrealized capital gains (losses)								—
Change in net deferred income tax							$	2,613
	December 31,
	2017			2016			Change
Total deferred income tax assets	$	12,423		$	18,424		$	(6,001	)
Total deferred income tax liabilities		(1,113	)		(1,183	)		70
Net deferred income tax asset	$	11,310		$	17,241
Tax effect of unrealized capital gains (losses)								55
Change in net deferred income tax							$	(5,876	)

The provision for federal income taxes and change in deferred income taxes differ from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The significant items causing this difference are as follows:

	December 31,
	2018			2017			2016
Income tax expense at statutory rate	$	(991	)	$	1,696		$	(585	)
Federal tax rate change		—			6,887			—
Tax adjustment for interest maintenance reserve		(260	)		(527	)		(657	)
Income tax (benefit) on realized capital gain (loss)		(57	)		(413	)		1,404
Dividend received deduction		(236	)		(256	)		(207	)
Prior year adjustment		(152	)		(159	)		(178	)
Tax credits		(136	)		(82	)		(587	)
Tax effect of non-admitted assets		(12	)		23			(2	)
Other		79			10			19
Total	$	(1,765	)	$	7,179		$	(793	)
		2018			2017			2016
Federal income taxes incurred	$	848		$	1,303		$	1,679
Change in net deferred income taxes		(2,613	)		5,876			(2,472	)
Total income tax expense (benefit)	$	(1,765)		$	7,179		$	(793	)

On December 22, 2017, H.R. 1, the Tax Reconciliation Act (the “Act”), was enacted. The legislation, which is generally effective for tax years beginning on January 1, 2018, represents significant U.S. tax reform and revises the Internal Revenue Code by, among other items, lowering the federal corporate income tax rate from 35% to 21% and modifying how the U.S. taxes multinational entities. Further, the Act changed how tax basis policy reserves, capitalized specified policy acquisition expenses, and the company’s share of the dividends received deduction and tax exempt interest are to be calculated.

Shortly after enactment, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 (“SAB 118”) which provided US GAAP guidance on the accounting for the Act’s impact at December 31, 2017. A reporting entity could recognize

31

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

provisional amounts, where the necessary information was not available, prepared or analyzed (including computations) in reasonable detail or where additional guidance was needed from the taxing authority to determine the appropriate application of the Act. A reporting entity’s provisional impact analysis was to be adjusted within the 12 month measurement period provided for under SAB 118. The Statutory Accounting Working Group subsequently provided informal interpretative guidance allowing for statutory accounting conformity with the SAB 118 US GAAP guidance.

The Company’s accounting for the income tax effects of the Act is complete as of the period ended December 31, 2018, and no material measurement period adjustments were recognized during the 2018 reporting period.

As of December 31, 2018 the Company had no operating loss carryforwards available for tax purposes.

During the years ended December 31, 2010 through December 31, 2017 the Company generated foreign tax credit carryforwards of $829. These credits will begin to expire in 2020.

There were no income taxes incurred for years ended December 31, 2018, 2017, and 2016 that will be available for recoupment in the event of future net losses.

The Company has no deposits admitted under Section 6603 of the Internal Revenue Code.

The Company’s federal income tax return is consolidated with the following entities (the “U.S. Consolidated Group”):

Great-West Lifeco U.S. LLC

Emjay Corporation

GWFS Equities, Inc.

GWL&A Financial Inc.

Great-West Life & Annuity Insurance Company of South Carolina

Great-West Life & Annuity Insurance Company

Putnam Investments, LLC

Putnam Acquisition Financing, Inc.

Putnam Retail Management, LP

Putnam Retail Management GP, Inc.

Putnam Advisory Company, LLC

Putnam Fiduciary Trust Company

Putnam Investor Services, Inc.

PanAgora Holdings, Inc

PanAgora Asset Management, Inc.

Putnam Advisory Holdings, LLC

Putnam Advisory Holdings II, LLC

FASCore, LLC

Advised Assets Group, LLC

Great-West Trust Company, LLC

Great-West Capital Management, LLC

The Company, Great-West Life & Annuity Insurance Company of South Carolina and Great-West Life & Annuity Insurance Company (“GWLA Subgroup”) are life insurance companies who form a life subgroup under the consolidated return regulations. These regulations determine whether the taxable income or losses of this subgroup may offset or be offset with the taxable income or losses of other non-life entities.

The GWLA Subgroup accounts for income taxes on the modified separate return method on each of their separate company, statutory financial statements. Under this method, current and deferred tax expense or benefit is determined on a separate return basis as the Company also considers taxable income or losses from other members of the GWLA Subgroup when determining its deferred tax assets and liabilities, and in evaluating the realizability of its deferred tax assets.

The method of settling income tax payables and receivables (“Tax Sharing Agreement”) among the US consolidated group is subject to a written agreement approved by the Board of Directors, whereby settlement is made on a separate return basis (i.e., the amount that would be due to or from a jurisdiction had an actual separate return been filed) except for the current utilization of any net

32

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Notes to Statutory Financial Statements

(Dollars in Thousands)

operating losses and other tax attributes by members of the US Consolidated Group, which can lead to receiving a payment when none would be received from the jurisdiction had a real separate tax return been required. The GWLA Subgroup has a policy of settling intercompany balances as soon as practical after the filing of the federal consolidated return or receipt of the income tax refund from the Internal Revenue Service (“I.R.S.”).

The Company determines income tax contingencies in accordance with SSAP No. 5R, Liabilities, Contingencies and Impairments of Assets (“SSAP No. 5R”) as modified by SSAP 101. The Company did not recognize any SSAP No. 5R contingencies during 2018 or 2017. The Company does not expect a significant increase in tax contingencies within the 12 month period following the balance sheet date.

The Company recognizes interest and penalties accrued related to tax contingencies in current income tax expense. The Company did not accrue for the payment of tax contingency interest and penalties at December 31, 2018, 2017 and 2016.

The Company files income tax returns in the U.S. federal jurisdiction and various states. With few exceptions, the Company is no longer subject to tax examinations by the I.R.S. for years 2014 and prior. Tax years 2015 through 2017 are open to federal examination by the I.R.S. The Company does not expect significant increases or decreases to unrecognized tax benefits relating to federal, state or local tax audits.

The Company does not have any outstanding AMT credits as of the filing of the 2017 tax return.

The Company does not have any foreign operations as of the periods ended December 31, 2017 and December 31, 2018 and therefore is not subject to the Repatriation Transition Tax or the tax on Global Intangible Low-Taxed Income.

13. Participating Insurance

Premiums paid, net of reinsurance, under individual participating policies were 8%, 6% and 6% of total individual premiums earned during the years ended December 31, 2018, 2017 and 2016, respectively. The Company accounts for its policyholder dividends based upon the contribution method. The Company paid dividends in the amount of $2,132, $3,065 and $2,646 to its policyholders during the years ended December 31, 2018, 2017 and 2016, respectively.

14. Concentrations

No customer accounted for 10% or more of the Company’s revenues in 2018, 2017, or 2016. In addition, no segment of the Company’s business is dependent on a single customer or a few customers, the loss of which would have a significant effect on the Company or any of its business segments. The loss of business from any one, or a few, independent brokers or agents would not have a material adverse effect on the Company or any of its business agents. New York State had concentrations of 96% for the year ended December 31, 2018 and 98% for the years ended December 31, 2017 and 2016.

15. Contingencies

From time to time, the Company may be threatened with, or named as a defendant in, lawsuits, arbitrations, and administrative claims. Any such claims that are decided against the Company could harm the Company’s business. The Company is also subject to periodic regulatory audits and inspections which could result in fines or other disciplinary actions. Unfavorable outcomes in such matters, should they occur, may result in a material impact on the Company’s financial position, results of operations, or cash flows.

33

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

Supplemental Schedule of Selected Statutory Financial Data

As of and for the Year Ended December 31, 2018

(In Thousands)

16. Subsequent Events

Management has evaluated subsequent events for potential recognition or disclosure in the Company’s statutory financial statements through March 26, 2019, the date on which they were issued.

On January 24, 2019, the Company announced that it had entered into an agreement with Protective Life Insurance Company (“Protective”) to sell, via indemnity reinsurance, substantially all of its non-participating individual life insurance and annuity business. The transaction is in its initial stage, and is expected to close in the first half of 2019 subject to regulatory and customary closing conditions. On the closing date of the proposed transaction, the Company will transfer to Protective assets equal to the statutory liabilities being insured and will receive a ceding commission (subject to post-closing adjustments) from Protective in consideration of the transferred business.

34

Variable Annuity-1 Series

Account of Great-West Life

& Annuity Insurance

Company of New York

Annual Report for the Year Ended

December 31, 2018 and Report of Independent

Registered Public Accounting Firm

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	AB VPS GROWTH AND INCOME PORTFOLIO		AB VPS GROWTH PORTFOLIO		AB VPS INTERNATIONAL GROWTH PORTFOLIO		AB VPS INTERNATIONAL VALUE PORTFOLIO		AB VPS REAL ESTATE INVESTMENT PORTFOLIO		AB VPS SMALL/MID CAP VALUE PORTFOLIO
ASSETS:
Investments at fair value (1)	$	144,511	$	165,696	$	296,393	$	82,247	$	209,233	$	306,198
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		144,511		165,696		296,393		82,247		209,233		306,198
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		14		19		1,369		10		20		32
Total liabilities		14		19		1,369		10		20		32
NET ASSETS	$	144,497	$	165,677	$	295,024	$	82,237	$	209,213	$	306,166
NET ASSETS REPRESENTED BY:
Accumulation units	$	144,497	$	165,677	$	292,292	$	82,237	$	209,213	$	306,166
Contracts in payout phase						2,732
NET ASSETS	$	144,497	$	165,677	$	295,024	$	82,237	$	209,213	$	306,166
ACCUMULATION UNITS OUTSTANDING		9,219		7,628		20,628		11,370		14,403		17,549
UNIT VALUE (ACCUMULATION)	$	15.67	$	21.72	$	14.17	$	7.23	$	14.53	$	17.45
(1) Cost of investments:	$	134,328	$	152,524	$	317,989	$	93,331	$	232,807	$	373,734
Shares of investments:		5,202		5,026		15,608		6,644		25,423		18,086

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	ALGER CAPITAL APPRECIATION PORTFOLIO		ALGER LARGE CAP GROWTH PORTFOLIO		ALGER MID CAP GROWTH PORTFOLIO		ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO		AMERICAN CENTURY INVESTMENTS VP BALANCED FUND		AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH FUND
ASSETS:
Investments at fair value (1)	$	49,268	$	1,324,185	$	274,180	$	11,434	$	968,032	$	474,645
Investment income due and accrued				1
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York										5,488
Total assets		49,268		1,324,186		274,180		11,434		973,520		474,645
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		3		151		29		1		87		33
Total liabilities		3		151		29		1		87		33
NET ASSETS	$	49,265	$	1,324,035	$	274,151	$	11,433	$	973,433	$	474,612
NET ASSETS REPRESENTED BY:
Accumulation units	$	49,265	$	1,324,035	$	274,151	$	11,433	$	910,872	$	474,612
Contracts in payout phase										62,561
NET ASSETS	$	49,265	$	1,324,035	$	274,151	$	11,433	$	973,433	$	474,612
ACCUMULATION UNITS OUTSTANDING		3,794		38,070		13,978		994		67,491		36,749
UNIT VALUE (ACCUMULATION)	$	12.98	$	34.78	$	19.61	$	11.50	$	13.50	$	12.91
(1) Cost of investments:	$	55,198	$	1,566,719	$	292,313	$	13,844	$	997,432	$	530,517
Shares of investments:		724		25,747		14,025		1,083		136,535		52,621

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND		AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND		AMERICAN CENTURY INVESTMENTS VP VALUE FUND		AMERICAN FUNDS IS GLOBAL GROWTH FUND		AMERICAN FUNDS IS NEW WORLD FUND		BLACKROCK GLOBAL ALLOCATION VI FUND
ASSETS:
Investments at fair value (1)	$	183,004	$	256,958	$	1,844,540	$	115,376	$	83,219	$	436,287
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		183,004		256,958		1,844,540		115,376		83,219		436,287
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		20		25		189		8		6		39
Total liabilities		20		25		189		8		6		39
NET ASSETS	$	182,984	$	256,933	$	1,844,351	$	115,368	$	83,213	$	436,248
NET ASSETS REPRESENTED BY:
Accumulation units	$	182,984	$	256,933	$	1,844,351	$	115,368	$	83,213	$	436,248
Contracts in payout phase
NET ASSETS	$	182,984	$	256,933	$	1,844,351	$	115,368	$	83,213	$	436,248
ACCUMULATION UNITS OUTSTANDING		12,154		12,341		95,521		8,876		7,284		41,263
UNIT VALUE (ACCUMULATION)	$	15.06	$	20.82	$	19.31	$	13.00	$	11.42	$	10.57
(1) Cost of investments:	$	190,721	$	286,500	$	1,702,882	$	135,267	$	96,280	$	463,423
Shares of investments:		19,183		14,026		184,270		4,482		4,003		28,722

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	CLEARBRIDGE VARIABLE MID CAP PORTFOLIO		CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO		COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND		COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND		COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND		DELAWARE VIP EMERGING MARKETS SERIES
ASSETS:
Investments at fair value (1)	$	28,046	$	98,744	$	732,262	$	728,854	$	98,132	$	268,120
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		28,046		98,744		732,262		728,854		98,132		268,120
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		2		9		55		80		11		22
Total liabilities		2		9		55		80		11		22
NET ASSETS	$	28,044	$	98,735	$	732,207	$	728,774	$	98,121	$	268,098
NET ASSETS REPRESENTED BY:
Accumulation units	$	28,044	$	98,735	$	732,207	$	728,774	$	98,121	$	268,098
Contracts in payout phase
NET ASSETS	$	28,044	$	98,735	$	732,207	$	728,774	$	98,121	$	268,098
ACCUMULATION UNITS OUTSTANDING		2,602		7,727		57,484		31,455		3,954		26,290
UNIT VALUE (ACCUMULATION)	$	10.78	$	12.78	$	12.74	$	23.17	$	24.82	$	10.20
(1) Cost of investments:	$	32,688	$	104,127	$	806,474	$	924,248	$	137,123	$	301,447
Shares of investments:		1,625		4,135		46,463		44,633		6,950		13,169

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	DELAWARE VIP SMALL CAP VALUE SERIES		DELAWARE VIP SMID CAP CORE SERIES		DIMENSIONAL VA US TARGETED VALUE PORTFOLIO		DREYFUS IP MIDCAP STOCK PORTFOLIO		DREYFUS VIF APPRECIATION PORTFOLIO		DREYFUS VIF GROWTH AND INCOME PORTFOLIO
ASSETS:
Investments at fair value (1)	$	459,633	$	232,911	$	90,266	$	404,306	$	394,739	$	183,648
Investment income due and accrued										1,254		431
Receivable for investments sold
Purchase payments receivable						1,154
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		459,633		232,911		91,420		404,306		395,993		184,079
LIABILITIES:
Payable for investments purchased						1,154
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		47		23		6		29		47		20
Total liabilities		47		23		1,160		29		47		20
NET ASSETS	$	459,586	$	232,888	$	90,260	$	404,277	$	395,946	$	184,059
NET ASSETS REPRESENTED BY:
Accumulation units	$	459,586	$	232,888	$	90,260	$	404,277	$	395,946	$	184,059
Contracts in payout phase
NET ASSETS	$	459,586	$	232,888	$	90,260	$	404,277	$	395,946	$	184,059
ACCUMULATION UNITS OUTSTANDING		18,725		12,809		8,139		32,203		18,694		11,899
UNIT VALUE (ACCUMULATION)	$	24.54	$	18.18	$	11.09	$	12.55	$	21.18	$	15.47
(1) Cost of investments:	$	528,752	$	315,054	$	104,335	$	455,337	$	467,653	$	175,579
Shares of investments:		14,030		12,310		5,915		24,066		11,014		6,552

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	DWS CAPITAL GROWTH VIP		DWS CORE EQUITY VIP		DWS CROCI® U.S. VIP		DWS GLOBAL SMALL CAP VIP		DWS SMALL CAP INDEX VIP		DWS SMALL MID CAP GROWTH VIP
ASSETS:
Investments at fair value (1)	$	933,339	$	223,065	$	224,358	$	107,221	$	1,111,439	$	11,996
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		933,339		223,065		224,358		107,221		1,111,439		11,996
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		98		20		27		9		109		1
Total liabilities		98		20		27		9		109		1
NET ASSETS	$	933,241	$	223,045	$	224,331	$	107,212	$	1,111,330	$	11,995
NET ASSETS REPRESENTED BY:
Accumulation units	$	933,241	$	223,045	$	224,331	$	107,212	$	1,111,330	$	11,995
Contracts in payout phase
NET ASSETS	$	933,241	$	223,045	$	224,331	$	107,212	$	1,111,330	$	11,995
ACCUMULATION UNITS OUTSTANDING		41,155		13,267		13,379		11,738		57,524		1,004
UNIT VALUE (ACCUMULATION)	$	22.68	$	16.81	$	16.77	$	9.13	$	19.32	$	11.95
(1) Cost of investments:	$	908,025	$	261,877	$	248,443	$	148,174	$	1,255,607	$	17,315
Shares of investments:		34,226		22,692		16,668		12,034		74,244		946

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	DWS SMALL MID CAP VALUE VIP		FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II		FEDERATED MANAGED VOLATILITY FUND II		FRANKLIN SMALL CAP VALUE VIP FUND		GREAT-WEST AGGRESSIVE PROFILE FUND		GREAT-WEST BOND INDEX FUND
ASSETS:
Investments at fair value (1)	$	125,952	$	1,464,545	$	92,000	$	540,402	$	121,967	$	35,910
Investment income due and accrued
Receivable for investments sold				1,365
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York				17,571
Total assets		125,952		1,483,481		92,000		540,402		121,967		35,910
LIABILITIES:
Payable for investments purchased
Redemptions payable				1,365
Due to Great-West Life & Annuity Insurance Company of New York		14		159		11		51		11		3
Total liabilities		14		1,524		11		51		11		3
NET ASSETS	$	125,938	$	1,481,957	$	91,989	$	540,351	$	121,956	$	35,907
NET ASSETS REPRESENTED BY:
Accumulation units	$	125,938	$	1,401,648	$	91,989	$	540,351	$	121,956	$	35,907
Contracts in payout phase				80,309
NET ASSETS	$	125,938	$	1,481,957	$	91,989	$	540,351	$	121,956	$	35,907
ACCUMULATION UNITS OUTSTANDING		7,435		91,684		4,194		36,357		13,577		3,532
UNIT VALUE (ACCUMULATION)	$	16.94	$	15.29	$	21.93	$	14.86	$	8.98	$	10.17
(1) Cost of investments:	$	148,834	$	1,511,992	$	96,083	$	675,335	$	158,346	$	35,562
Shares of investments:		10,315		139,215		9,583		37,014		21,976		2,646

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	GREAT-WEST CONSERVATIVE PROFILE FUND		GREAT-WEST MID CAP VALUE FUND		GREAT-WEST MODERATE PROFILE FUND		GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND		GREAT-WEST MULTI-SECTOR BOND FUND		GREAT-WEST SECURE- FOUNDATION® BALANCED FUND
ASSETS:
Investments at fair value (1)	$	696,317	$	32,241	$	84,656	$	191,177	$	871,543	$	14,497,534
Investment income due and accrued
Receivable for investments sold		1,679								451		38,360
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		697,996		32,241		84,656		191,177		871,994		14,535,894
LIABILITIES:
Payable for investments purchased
Redemptions payable		1,679								451		38,360
Due to Great-West Life & Annuity Insurance Company of New York		62		2		7		17		58		1,313
Total liabilities		1,741		2		7		17		509		39,673
NET ASSETS	$	696,255	$	32,239	$	84,649	$	191,160	$	871,485	$	14,496,221
NET ASSETS REPRESENTED BY:
Accumulation units	$	696,255	$	32,239	$	84,649	$	191,160	$	871,485	$	14,496,221
Contracts in payout phase
NET ASSETS	$	696,255	$	32,239	$	84,649	$	191,160	$	871,485	$	14,496,221
ACCUMULATION UNITS OUTSTANDING		71,763		2,776		9,011		20,039		82,170		1,259,201
UNIT VALUE (ACCUMULATION)	$	9.70	$	11.61	$	9.39	$	9.54	$	10.61	$	11.51
(1) Cost of investments:	$	760,364	$	39,593	$	98,758	$	214,523	$	910,324	$	15,259,521
Shares of investments:		92,966		3,082		13,632		24,261		69,060		1,183,472

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND		INVESCO V.I. COMSTOCK FUND		INVESCO V.I. CORE EQUITY FUND		INVESCO V.I. GROWTH & INCOME FUND		INVESCO V.I. HIGH YIELD FUND		INVESCO V.I. INTERNATIONAL GROWTH FUND
ASSETS:
Investments at fair value (1)	$	186,215	$	361,472	$	92,444	$	1,325,264	$	168,833	$	405,395
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		186,215		361,472		92,444		1,325,264		168,833		405,395
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		16		39		11		128		16		46
Total liabilities		16		39		11		128		16		46
NET ASSETS	$	186,199	$	361,433	$	92,433	$	1,325,136	$	168,817	$	405,349
NET ASSETS REPRESENTED BY:
Accumulation units	$	186,199	$	361,433	$	92,433	$	1,325,136	$	168,817	$	405,349
Contracts in payout phase
NET ASSETS	$	186,199	$	361,433	$	92,433	$	1,325,136	$	168,817	$	405,349
ACCUMULATION UNITS OUTSTANDING		17,040		21,545		3,347		82,611		13,455		31,312
UNIT VALUE (ACCUMULATION)	$	10.93	$	16.78	$	27.62	$	16.04	$	12.55	$	12.95
(1) Cost of investments:	$	217,255	$	418,388	$	85,414	$	1,621,843	$	176,719	$	432,898
Shares of investments:		7,759		22,424		2,988		75,686		33,366		12,292

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	INVESCO V.I. MID CAP CORE EQUITY FUND		INVESCO V.I. SMALL CAP EQUITY FUND		INVESCO V.I. TECHNOLOGY FUND		IVY VIP INTERNATIONAL CORE EQUITY		JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES		JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES
ASSETS:
Investments at fair value (1)	$	74,794	$	106,469	$	274,172	$	90,922	$	506,015	$	2,316,078
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		74,794		106,469		274,172		90,922		506,015		2,316,078
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		8		10		32		7		59		232
Total liabilities		8		10		32		7		59		232
NET ASSETS	$	74,786	$	106,459	$	274,140	$	90,915	$	505,956	$	2,315,846
NET ASSETS REPRESENTED BY:
Accumulation units	$	74,786	$	106,459	$	274,140	$	90,915	$	505,956	$	2,315,846
Contracts in payout phase
NET ASSETS	$	74,786	$	106,459	$	274,140	$	90,915	$	505,956	$	2,315,846
ACCUMULATION UNITS OUTSTANDING		3,607		8,025		45,675		10,051		17,728		141,449
UNIT VALUE (ACCUMULATION)	$	20.73	$	13.27	$	6.00	$	9.05	$	28.54	$	16.37
(1) Cost of investments:	$	87,451	$	130,533	$	209,391	$	106,091	$	408,017	$	2,077,395
Shares of investments:		6,818		6,684		12,508		6,203		14,993		65,077

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES		JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES		JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO		JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES		JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES		JANUS HENDERSON VIT OVERSEAS PORTFOLIO INSTITUTIONAL SHARES
ASSETS:
Investments at fair value (1)	$	1,822,675	$	1,978,795	$	498,619	$	159,619	$	253,659	$	56,708
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York						2,695
Total assets		1,822,675		1,978,795		501,314		159,619		253,659		56,708
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		140		215		53		11		23		7
Total liabilities		140		215		53		11		23		7
NET ASSETS	$	1,822,535	$	1,978,580	$	501,261	$	159,608	$	253,636	$	56,701
NET ASSETS REPRESENTED BY:
Accumulation units	$	1,822,535	$	1,978,580	$	480,109	$	159,608	$	253,636	$	56,701
Contracts in payout phase						21,152
NET ASSETS	$	1,822,535	$	1,978,580	$	501,261	$	159,608	$	253,636	$	56,701
ACCUMULATION UNITS OUTSTANDING		157,136		134,126		26,824		8,605		13,541		2,547
UNIT VALUE (ACCUMULATION)	$	11.60	$	14.75	$	17.90	$	18.55	$	18.73	$	22.26
(1) Cost of investments:	$	1,867,655	$	2,097,815	$	371,206	$	170,213	$	260,807	$	70,857
Shares of investments:		162,594		161,798		10,580		14,432		22,668		2,123

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES		JANUS HENDERSON VIT RESEARCH PORTFOLIO		JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO		LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO		LVIP BARON GROWTH OPPORTUNITIES FUND		MFS VIT II INTERNATIONAL VALUE PORTFOLIO
ASSETS:
Investments at fair value (1)	$	212,265	$	259,271	$	27,057	$	1,041,589	$	1,159,157	$	1,589,744
Investment income due and accrued
Receivable for investments sold								282
Purchase payments receivable												440
Due from Great-West Life & Annuity Insurance Company of New York										4,439
Total assets		212,265		259,271		27,057		1,041,871		1,163,596		1,590,184
LIABILITIES:
Payable for investments purchased												440
Redemptions payable								282
Due to Great-West Life & Annuity Insurance Company of New York		25		30		3		105		132		157
Total liabilities		25		30		3		387		132		597
NET ASSETS	$	212,240	$	259,241	$	27,054	$	1,041,484	$	1,163,464	$	1,589,587
NET ASSETS REPRESENTED BY:
Accumulation units	$	212,240	$	259,241	$	27,054	$	1,041,484	$	1,154,721	$	1,589,587
Contracts in payout phase										8,743
NET ASSETS	$	212,240	$	259,241	$	27,054	$	1,041,484	$	1,163,464	$	1,589,587
ACCUMULATION UNITS OUTSTANDING		25,205		7,917		2,227		78,064		30,270		81,735
UNIT VALUE (ACCUMULATION)	$	8.42	$	32.74	$	12.15	$	13.34	$	38.15	$	19.45
(1) Cost of investments:	$	235,194	$	198,043	$	28,408	$	1,139,869	$	1,082,709	$	1,606,730
Shares of investments:		8,279		7,694		1,282		55,404		25,568		64,624

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	MFS VIT III MID CAP VALUE PORTFOLIO		MFS VIT UTILITIES SERIES		MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO		NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO		NVIT MID CAP INDEX FUND		OPPENHEIMER GLOBAL FUND/VA
ASSETS:
Investments at fair value (1)	$	191,416	$	367,265	$	780,059	$	14,081	$	970,123	$	960,160
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York												2,208
Total assets		191,416		367,265		780,059		14,081		970,123		962,368
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		13		38		90		2		97		108
Total liabilities		13		38		90		2		97		108
NET ASSETS	$	191,403	$	367,227	$	779,969	$	14,079	$	970,026	$	962,260
NET ASSETS REPRESENTED BY:
Accumulation units	$	191,403	$	367,227	$	779,969	$	14,079	$	970,026	$	957,911
Contracts in payout phase												4,349
NET ASSETS	$	191,403	$	367,227	$	779,969	$	14,079	$	970,026	$	962,260
ACCUMULATION UNITS OUTSTANDING		19,848		23,365		16,736		854		48,983		38,175
UNIT VALUE (ACCUMULATION)	$	9.64	$	15.72	$	46.60	$	16.49	$	19.80	$	25.09
(1) Cost of investments:	$	227,855	$	375,107	$	652,102	$	11,943	$	1,154,368	$	953,622
Shares of investments:		25,797		12,726		39,962		784		47,231		25,267

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	OPPENHEIMER INTERNATIONAL GROWTH FUND/VA		OPPENHEIMER MAIN STREET SMALL CAP FUND/VA		PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO		PIMCO VIT EMERGING MARKETS BOND PORTFOLIO		PIMCO VIT HIGH YIELD PORTFOLIO		PIMCO VIT LOW DURATION PORTFOLIO
ASSETS:
Investments at fair value (1)	$	302,386	$	83,293	$	110,499	$	18,783	$	918,257	$	3,025,854
Investment income due and accrued								70		3,891		7,914
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		302,386		83,293		110,499		18,853		922,148		3,033,768
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		26		8		9		1		2,613		314
Total liabilities		26		8		9		1		2,613		314
NET ASSETS	$	302,360	$	83,285	$	110,490	$	18,852	$	919,535	$	3,033,454
NET ASSETS REPRESENTED BY:
Accumulation units	$	302,360	$	83,285	$	110,490	$	18,852	$	914,386	$	3,033,454
Contracts in payout phase										5,149
NET ASSETS	$	302,360	$	83,285	$	110,490	$	18,852	$	919,535	$	3,033,454
ACCUMULATION UNITS OUTSTANDING		27,534		6,879		20,307		1,922		51,086		249,025
UNIT VALUE (ACCUMULATION)	$	10.98	$	12.11	$	5.44	$	9.81	$	17.90	$	12.18
(1) Cost of investments:	$	352,705	$	102,868	$	127,396	$	19,848	$	983,965	$	3,132,952
Shares of investments:		148,958		4,091		18,355		1,564		126,134		300,184

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	PIMCO VIT REAL RETURN PORTFOLIO		PIMCO VIT TOTAL RETURN PORTFOLIO		PIONEER FUND VCT PORTFOLIO		PIONEER MID CAP VALUE VCT PORTFOLIO		PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO		PRUDENTIAL SERIES FUND EQUITY PORTFOLIO
ASSETS:
Investments at fair value (1)	$	128,830	$	4,109,255	$	145,690	$	138,499	$	215,744	$	163,488
Investment income due and accrued		215		10,925
Receivable for investments sold				2,384
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York				6,464
Total assets		129,045		4,129,028		145,690		138,499		215,744		163,488
LIABILITIES:
Payable for investments purchased
Redemptions payable				2,384
Due to Great-West Life & Annuity Insurance Company of New York		12		433		16		16		22		19
Total liabilities		12		2,817		16		16		22		19
NET ASSETS	$	129,033	$	4,126,211	$	145,674	$	138,483	$	215,722	$	163,469
NET ASSETS REPRESENTED BY:
Accumulation units	$	129,033	$	4,113,481	$	145,674	$	138,483	$	215,722	$	163,469
Contracts in payout phase				12,730
NET ASSETS	$	129,033	$	4,126,211	$	145,674	$	138,483	$	215,722	$	163,469
ACCUMULATION UNITS OUTSTANDING		13,121		300,955		6,984		8,943		11,614		7,380
UNIT VALUE (ACCUMULATION)	$	9.83	$	13.67	$	20.86	$	15.49	$	18.57	$	22.15
(1) Cost of investments:	$	132,747	$	4,284,739	$	198,680	$	162,104	$	227,199	$	123,208
Shares of investments:		10,872		392,104		10,776		9,023		8,692		3,380

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO		PUTNAM VT EQUITY INCOME FUND		PUTNAM VT GLOBAL ASSET ALLOCATION FUND		PUTNAM VT GLOBAL HEALTH CARE FUND		PUTNAM VT INCOME FUND		PUTNAM VT INTERNATIONAL VALUE FUND
ASSETS:
Investments at fair value (1)	$	15,288	$	624,777	$	77,349	$	491,015	$	185,897	$	70,644
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		15,288		624,777		77,349		491,015		185,897		70,644
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		2		55		7		52		12		5
Total liabilities		2		55		7		52		12		5
NET ASSETS	$	15,286	$	624,722	$	77,342	$	490,963	$	185,885	$	70,639
NET ASSETS REPRESENTED BY:
Accumulation units	$	15,286	$	624,722	$	77,342	$	490,963	$	185,885	$	70,639
Contracts in payout phase
NET ASSETS	$	15,286	$	624,722	$	77,342	$	490,963	$	185,885	$	70,639
ACCUMULATION UNITS OUTSTANDING		1,815		36,883		6,867		28,465		17,996		7,676
UNIT VALUE (ACCUMULATION)	$	8.42	$	16.94	$	11.26	$	17.25	$	10.33	$	9.20
(1) Cost of investments:	$	23,909	$	609,023	$	86,322	$	635,809	$	187,817	$	76,559
Shares of investments:		719		27,023		5,099		36,534		17,197		7,460

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	PUTNAM VT MORTGAGE SECURITIES FUND		PUTNAM VT MULTI-CAP CORE FUND		ROYCE CAPITAL FUND - SMALL- CAP PORTFOLIO		SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO		SCHWAB S&P 500 INDEX PORTFOLIO		SCHWAB VIT BALANCED PORTFOLIO
ASSETS:
Investments at fair value (1)	$	484,727	$	72,557	$	98,697	$	8,248,483	$	18,979,302	$	90,776
Investment income due and accrued								19,750
Receivable for investments sold
Purchase payments receivable								108,231		1,635
Due from Great-West Life & Annuity Insurance Company of New York								33,491		15,007
Total assets		484,727		72,557		98,697		8,409,955		18,995,944		90,776
LIABILITIES:
Payable for investments purchased								108,231		1,635
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		47		6		11		854		1,896		6
Total liabilities		47		6		11		109,085		3,531		6
NET ASSETS	$	484,680	$	72,551	$	98,686	$	8,300,870	$	18,992,413	$	90,770
NET ASSETS REPRESENTED BY:
Accumulation units	$	484,680	$	72,551	$	98,686	$	7,923,055	$	18,948,230	$	90,770
Contracts in payout phase								377,815		44,183
NET ASSETS	$	484,680	$	72,551	$	98,686	$	8,300,870	$	18,992,413	$	90,770
ACCUMULATION UNITS OUTSTANDING		47,162		5,473		4,603		709,595		876,559		8,568
UNIT VALUE (ACCUMULATION)	$	10.28	$	13.26	$	21.44	$	11.17	$	21.62	$	10.59
(1) Cost of investments:	$	507,563	$	74,137	$	121,541	$	8,248,483	$	14,717,037	$	97,039
Shares of investments:		52,802		4,286		12,834		8,248,483		511,571		7,680

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO		SCHWAB VIT GROWTH PORTFOLIO		T. ROWE PRICE HEALTH SCIENCES PORTFOLIO		T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II		TEMPLETON FOREIGN VIP FUND		TEMPLETON GLOBAL BOND VIP FUND
ASSETS:
Investments at fair value (1)	$	497,618	$	203,225	$	30,000	$	14,588	$	337,664	$	791,254
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable												378
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		497,618		203,225		30,000		14,588		337,664		791,632
LIABILITIES:
Payable for investments purchased												378
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		42		18		2		1		33		69
Total liabilities		42		18		2		1		33		447
NET ASSETS	$	497,576	$	203,207	$	29,998	$	14,587	$	337,631	$	791,185
NET ASSETS REPRESENTED BY:
Accumulation units	$	497,576	$	203,207	$	29,998	$	14,587	$	337,631	$	791,185
Contracts in payout phase
NET ASSETS	$	497,576	$	203,207	$	29,998	$	14,587	$	337,631	$	791,185
ACCUMULATION UNITS OUTSTANDING		45,925		18,296		1,916		950		33,545		79,604
UNIT VALUE (ACCUMULATION)	$	10.83	$	11.11	$	15.66	$	15.35	$	10.07	$	9.94
(1) Cost of investments:	$	534,977	$	223,861	$	31,834	$	15,867	$	375,277	$	792,882
Shares of investments:		39,306		14,780		744		378		26,504		47,014

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	THIRD AVENUE VALUE PORTFOLIO		TVST TOUCHSTONE BOND FUND		TVST TOUCHSTONE COMMON STOCK FUND		TVST TOUCHSTONE FOCUSED FUND		TVST TOUCHSTONE SMALL COMPANY FUND		VAN ECK VIP GLOBAL HARD ASSETS FUND
ASSETS:
Investments at fair value (1)	$	41,134	$	931,479	$	284,937	$	330,071	$	160,285	$	56,408
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable								778
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		41,134		931,479		284,937		330,849		160,285		56,408
LIABILITIES:
Payable for investments purchased								778
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		1,312		103		29		31		15		5
Total liabilities		1,312		103		29		809		15		5
NET ASSETS	$	39,822	$	931,376	$	284,908	$	330,040	$	160,270	$	56,403
NET ASSETS REPRESENTED BY:
Accumulation units	$	37,143	$	931,376	$	284,908	$	330,040	$	160,270	$	56,403
Contracts in payout phase		2,679
NET ASSETS	$	39,822	$	931,376	$	284,908	$	330,040	$	160,270	$	56,403
ACCUMULATION UNITS OUTSTANDING		3,783		79,045		11,083		16,892		5,788		6,865
UNIT VALUE (ACCUMULATION)	$	9.82	$	11.78	$	25.71	$	19.54	$	27.69	$	8.22
(1) Cost of investments:	$	38,655	$	985,435	$	472,518	$	360,570	$	187,797	$	94,053
Shares of investments:		2,847		101,358		39,140		19,519		12,631		3,446

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND		VANGUARD VIF CAPITAL GROWTH PORTFOLIO		VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO		VANGUARD VIF MID-CAP INDEX PORTFOLIO		VANGUARD VIF REAL ESTATE INDEX PORTFOLIO		VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO
ASSETS:
Investments at fair value (1)	$	205,476	$	137,378	$	62,389	$	188,863	$	126,696	$	209,213
Investment income due and accrued
Receivable for investments sold										230
Purchase payments receivable								325
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		205,476		137,378		62,389		189,188		126,926		209,213
LIABILITIES:
Payable for investments purchased								325
Redemptions payable										230
Due to Great-West Life & Annuity Insurance Company of New York		23		10		4		14		9		15
Total liabilities		23		10		4		339		239		15
NET ASSETS	$	205,453	$	137,368	$	62,385	$	188,849	$	126,687	$	209,198
NET ASSETS REPRESENTED BY:
Accumulation units	$	205,453	$	137,368	$	62,385	$	188,849	$	126,687	$	209,198
Contracts in payout phase
NET ASSETS	$	205,453	$	137,368	$	62,385	$	188,849	$	126,687	$	209,198
ACCUMULATION UNITS OUTSTANDING		18,525		8,793		5,416		15,085		10,500		15,445
UNIT VALUE (ACCUMULATION)	$	11.09	$	15.62	$	11.52	$	12.52	$	12.07	$	13.54
(1) Cost of investments:	$	225,627	$	137,324	$	70,636	$	212,492	$	133,101	$	230,316
Shares of investments:		26,479		4,102		4,354		9,336		10,950		10,311

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	WELLS FARGO VT DISCOVERY FUND		WELLS FARGO VT OMEGA GROWTH FUND		WELLS FARGO VT OPPORTUNITY FUND
ASSETS:
Investments at fair value (1)	$	30,749	$	87,412	$	132,669
Investment income due and accrued
Receivable for investments sold
Purchase payments receivable
Due from Great-West Life & Annuity Insurance Company of New York
Total assets		30,749		87,412		132,669
LIABILITIES:
Payable for investments purchased
Redemptions payable
Due to Great-West Life & Annuity Insurance Company of New York		3		9		2,946
Total liabilities		3		9		2,946
NET ASSETS	$	30,746	$	87,403	$	129,723
NET ASSETS REPRESENTED BY:
Accumulation units	$	30,746	$	87,403	$	123,724
Contracts in payout phase						5,999
NET ASSETS	$	30,746	$	87,403	$	129,723
ACCUMULATION UNITS OUTSTANDING		1,340		6,088		5,933
UNIT VALUE (ACCUMULATION)	$	22.94	$	14.36	$	20.85
(1) Cost of investments:	$	34,668	$	88,076	$	149,148
Shares of investments:		1,176		3,465		5,806

The accompanying notes are an integral part of these financial statements. (Concluded ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	AB VPS GROWTH AND INCOME PORTFOLIO			AB VPS GROWTH PORTFOLIO			AB VPS INTERNATIONAL GROWTH PORTFOLIO			AB VPS INTERNATIONAL VALUE PORTFOLIO			AB VPS REAL ESTATE INVESTMENT PORTFOLIO			AB VPS SMALL/MID CAP VALUE PORTFOLIO
INVESTMENT INCOME:
Dividends	$	1,555		$			$	2,342		$	1,537		$	4,987		$	1,721
EXPENSES:
Mortality and expense risk		1,083			1,256			2,843			844			1,676			2,606
NET INVESTMENT INCOME (LOSS)		472			(1,256	)		(501	)		693			3,311			(885	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		465			(126	)		2,960			81			(3,719	)		8,586
Realized gain distributions		17,535			20,952									10,439			28,706
Net realized gain (loss) on investments		18,000			20,826			2,960			81			6,720			37,292
Change in net unrealized appreciation (depreciation) on investments		(28,041	)		(19,931	)		(68,856	)		(25,940	)		(18,894	)		(95,413	)
Net realized and unrealized gain (loss) on investments		(10,041	)		895			(65,896	)		(25,859	)		(12,174	)		(58,121	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(9,569	)	$	(361	)	$	(66,397	)	$	(25,166	)	$	(8,863	)	$	(59,006	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	ALGER CAPITAL APPRECIATION PORTFOLIO			ALGER LARGE CAP GROWTH PORTFOLIO			ALGER MID CAP GROWTH PORTFOLIO			ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO			AMERICAN CENTURY INVESTMENTS VP BALANCED FUND			AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH FUND
INVESTMENT INCOME:
Dividends	$	44		$			$			$	748		$	11,760		$	5,359
EXPENSES:
Mortality and expense risk		300			13,150			2,923			85			5,940			1,341
NET INVESTMENT INCOME (LOSS)		(256	)		(13,150	)		(2,923	)		663			5,820			4,018
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		2,652			179,696			104,040						(3,790	)		8,293
Realized gain distributions		8,469			259,611			43,120			37			5,091			8,393
Net realized gain (loss) on investments		11,121			439,307			147,160			37			1,301			16,686
Change in net unrealized appreciation (depreciation) on investments		(10,232	)		(424,195	)		(164,853	)		(2,376	)		(50,360	)		(83,633	)
Net realized and unrealized gain (loss) on investments		889			15,112			(17,693	)		(2,339	)		(49,059	)		(66,947	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	633		$	1,962		$	(20,616	)	$	(1,676	)	$	(43,239	)	$	(62,929	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND			AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND			AMERICAN CENTURY INVESTMENTS VP VALUE FUND			AMERICAN FUNDS IS GLOBAL GROWTH FUND			AMERICAN FUNDS IS INTERNATIONAL FUND			AMERICAN FUNDS IS NEW WORLD FUND
													(1)
INVESTMENT INCOME:
Dividends	$	2,740		$	4,369		$	30,699		$	1,205		$	42		$	808
EXPENSES:
Mortality and expense risk		1,698			2,444			14,351			611			68			410
NET INVESTMENT INCOME (LOSS)		1,042			1,925			16,348			594			(26	)		398
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		5,285			1,985			53,927			909			(3,591	)		670
Realized gain distributions		14,168			22,240			106			8,982			1,027			2,637
Net realized gain (loss) on investments		19,453			24,225			54,033			9,891			(2,564	)		3,307
Change in net unrealized appreciation (depreciation) on investments		(56,080	)		(70,247	)		(279,680	)		(25,529	)					(18,837	)
Net realized and unrealized gain (loss) on investments		(36,627	)		(46,022	)		(225,647	)		(15,638	)		(2,564	)		(15,530	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(35,585	)	$	(44,097	)	$	(209,299	)	$	(15,044	)	$	(2,590	)	$	(15,132	)

(1) For the period March 19, 2018 to November 6, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	BLACKROCK GLOBAL ALLOCATION VI FUND			CLEARBRIDGE VARIABLE MID CAP PORTFOLIO			CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO			COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND			COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND			COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND
INVESTMENT INCOME:
Dividends	$	4,430		$	161		$			$			$			$	208
EXPENSES:
Mortality and expense risk		2,384			209			605			2,399			6,992			1,120
NET INVESTMENT INCOME (LOSS)		2,046			(48	)		(605	)		(2,399	)		(6,992	)		(912	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		325						633			18,023			(9,671	)		(5,883	)
Realized gain distributions		16,630			576			11,109						93,327			17,790
Net realized gain (loss) on investments		16,955			576			11,742			18,023			83,656			11,907
Change in net unrealized appreciation (depreciation) on investments		(56,091	)		(4,752	)		(14,990	)		(114,860	)		(154,174	)		(42,910	)
Net realized and unrealized gain (loss) on investments		(39,136	)		(4,176	)		(3,248	)		(96,837	)		(70,518	)		(31,003	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(37,090	)	$	(4,224	)	$	(3,853	)	$	(99,236	)	$	(77,510	)	$	(31,915	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	DELAWARE VIP EMERGING MARKETS SERIES			DELAWARE VIP SMALL CAP VALUE SERIES			DELAWARE VIP SMID CAP CORE SERIES			DELAWARE VIP VALUE SERIES			DIMENSIONAL VA US TARGETED VALUE PORTFOLIO			DREYFUS IP MIDCAP STOCK PORTFOLIO
										(1)
INVESTMENT INCOME:
Dividends	$	5,312		$	5,036		$	410		$	374		$	1,010		$	445
EXPENSES:
Mortality and expense risk		1,197			4,637			1,808			72			473			1,234
NET INVESTMENT INCOME (LOSS)		4,115			399			(1,398	)		302			537			(789	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(2,253	)		12,922			(2,018	)		(1,064	)		601			14,344
Realized gain distributions		531			42,831			68,245			1,389			5,881			9,134
Net realized gain (loss) on investments		(1,722	)		55,753			66,227			325			6,482			23,478
Change in net unrealized appreciation (depreciation) on investments		(39,901	)		(151,642	)		(102,241	)					(23,555	)		(95,057	)
Net realized and unrealized gain (loss) on investments		(41,623	)		(95,889	)		(36,014	)		325			(17,073	)		(71,579	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(37,508	)	$	(95,490	)	$	(37,412	)	$	627		$	(16,536	)	$	(72,368	)

(1) For the period March 19, 2018 to November 6, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	DREYFUS VIF APPRECIATION PORTFOLIO			DREYFUS VIF GROWTH AND INCOME PORTFOLIO			DWS CAPITAL GROWTH VIP			DWS CORE EQUITY VIP			DWS CROCI® U.S. VIP			DWS GLOBAL SMALL CAP VIP
INVESTMENT INCOME:
Dividends	$	5,830		$	1,637		$	7,336		$	3,329		$	6,622		$	371
EXPENSES:
Mortality and expense risk		3,979			1,701			8,146			1,370			2,251			863
NET INVESTMENT INCOME (LOSS)		1,851			(64	)		(810	)		1,959			4,371			(492	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(20,653	)		6,911			13,637			9,884			5,691			(235	)
Realized gain distributions		64,828			18,066			93,255			49,675			18,960			17,480
Net realized gain (loss) on investments		44,175			24,977			106,892			59,559			24,651			17,245
Change in net unrealized appreciation (depreciation) on investments		(78,997	)		(34,869	)		(129,116	)		(77,918	)		(57,875	)		(45,327	)
Net realized and unrealized gain (loss) on investments		(34,822	)		(9,892	)		(22,224	)		(18,359	)		(33,224	)		(28,082	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(32,971	)	$	(9,956	)	$	(23,034	)	$	(16,400	)	$	(28,853	)	$	(28,574	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	DWS SMALL CAP INDEX VIP			DWS SMALL MID CAP GROWTH VIP			DWS SMALL MID CAP VALUE VIP			FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II			FEDERATED MANAGED TAIL RISK FUND II			FEDERATED MANAGED VOLATILITY FUND II
														(1)
INVESTMENT INCOME:
Dividends	$	12,301		$			$	2,122		$	33,639		$	2,688		$	861
EXPENSES:
Mortality and expense risk		9,454			94			1,232			11,389			417			473
NET INVESTMENT INCOME (LOSS)		2,847			(94	)		890			22,250			2,271			388
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		13,635			(16	)		1,406			(3,971	)		(15,196	)		161
Realized gain distributions		87,306			4,658			27,407
Net realized gain (loss) on investments		100,941			4,642			28,813			(3,971	)		(15,196	)		161
Change in net unrealized appreciation (depreciation) on investments		(252,146	)		(6,525	)		(55,241	)		(21,612	)		12,223			(9,898	)
Net realized and unrealized gain (loss) on investments		(151,205	)		(1,883	)		(26,428	)		(25,583	)		(2,973	)		(9,737	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(148,358	)	$	(1,977	)	$	(25,538	)	$	(3,333	)	$	(702	)	$	(9,349	)

(1) For the period January 1, 2018 to August 20, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	FRANKLIN SMALL CAP VALUE VIP FUND			GREAT-WEST AGGRESSIVE PROFILE FUND			GREAT-WEST BOND INDEX FUND			GREAT-WEST CONSERVATIVE PROFILE FUND			GREAT-WEST MID CAP VALUE FUND			GREAT-WEST MODERATE PROFILE FUND
					(1)			(2)			(3)						(4)
INVESTMENT INCOME:
Dividends	$	3,843		$	3,537		$	176		$	19,948		$	1,636		$	1,777
EXPENSES:
Mortality and expense risk		3,789			483			60			2,545			207			247
NET INVESTMENT INCOME (LOSS)		54			3,054			116			17,403			1,429			1,530
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(4,375	)		(498	)		(1	)		(555	)					(12	)
Realized gain distributions		65,442			15,782						19,202			923			5,086
Net realized gain (loss) on investments		61,067			15,284			(1	)		18,647			923			5,074
Change in net unrealized appreciation (depreciation) on investments		(146,387	)		(36,379	)		348			(64,047	)		(6,930	)		(14,102	)
Net realized and unrealized gain (loss) on investments		(85,320	)		(21,095	)		347			(45,400	)		(6,007	)		(9,028	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(85,266	)	$	(18,041	)	$	463		$	(27,997	)	$	(4,578	)	$	(7,498	)

(1) For the period June 18, 2018 to December 31, 2018.

(2) For the period August 14, 2018 to December 31, 2018.

(3) For the period June 6, 2018 to December 31, 2018.

(4) For the period July 16, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND			GREAT-WEST MULTI-SECTOR BOND FUND			GREAT-WEST SECURE- FOUNDATION® BALANCED FUND			GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND			INVESCO V.I. COMSTOCK FUND			INVESCO V.I. CORE EQUITY FUND
		(1)									(2)
INVESTMENT INCOME:
Dividends	$	3,797		$	12,217		$	311,276		$	172		$	7,247		$	935
EXPENSES:
Mortality and expense risk		633			1,951			104,350			579			3,009			998
NET INVESTMENT INCOME (LOSS)		3,164			10,266			206,926			(407	)		4,238			(63	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(11	)		167			86,670			(54	)		24,407			11,488
Realized gain distributions		8,574			4,517			613,036			10,668			41,186			6,694
Net realized gain (loss) on investments		8,563			4,684			699,706			10,614			65,593			18,182
Change in net unrealized appreciation (depreciation) on investments		(23,346	)		(40,566	)		(1,819,883	)		(31,040	)		(126,256	)		(28,236	)
Net realized and unrealized gain (loss) on investments		(14,783	)		(35,882	)		(1,120,177	)		(20,426	)		(60,663	)		(10,054	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(11,619	)	$	(25,616	)	$	(913,251	)	$	(20,833	)	$	(56,425	)	$	(10,117	)

(1) For the period July 3, 2018 to December 31, 2018.

(2) For the period March 19, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	INVESCO V.I. GROWTH & INCOME FUND			INVESCO V.I. HIGH YIELD FUND			INVESCO V.I. INTERNATIONAL GROWTH FUND			INVESCO V.I. MID CAP CORE EQUITY FUND			INVESCO V.I. SMALL CAP EQUITY FUND			INVESCO V.I. TECHNOLOGY FUND
INVESTMENT INCOME:
Dividends	$	32,378		$	8,843		$	9,723		$	432		$			$
EXPENSES:
Mortality and expense risk		10,644			1,135			3,821			598			688			2,682
NET INVESTMENT INCOME (LOSS)		21,734			7,708			5,902			(166	)		(688	)		(2,682	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		27,724			612			7,562			1,049			214			14,557
Realized gain distributions		147,569						3,293			11,948			8,576			13,835
Net realized gain (loss) on investments		175,293			612			10,855			12,997			8,790			28,392
Change in net unrealized appreciation (depreciation) on investments		(415,488	)		(15,468	)		(92,635	)		(22,882	)		(31,087	)		(25,961	)
Net realized and unrealized gain (loss) on investments		(240,195	)		(14,856	)		(81,780	)		(9,885	)		(22,297	)		2,431
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(218,461	)	$	(7,148	)	$	(75,878	)	$	(10,051	)	$	(22,985	)	$	(251	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	IVY VIP INTERNATIONAL CORE EQUITY			JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO
INVESTMENT INCOME:
Dividends	$	652		$	11,626		$	40,769		$	38,650		$	55,591		$	6,112
EXPENSES:
Mortality and expense risk		318			4,579			17,003			6,660			16,704			4,133
NET INVESTMENT INCOME (LOSS)		334			7,047			23,766			31,990			38,887			1,979
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		24			7,198			25,442			(6,466	)		(17,437	)		3,127
Realized gain distributions		1,141			14,926			57,613
Net realized gain (loss) on investments		1,165			22,124			83,055			(6,466	)		(17,437	)		3,127
Change in net unrealized appreciation (depreciation) on investments		(18,563	)		(29,000	)		(119,820	)		(33,387	)		(67,198	)		(46,554	)
Net realized and unrealized gain (loss) on investments		(17,398	)		(6,876	)		(36,765	)		(39,853	)		(84,635	)		(43,427	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(17,064	)	$	171		$	(12,999	)	$	(7,863	)	$	(45,748	)	$	(41,448	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT OVERSEAS PORTFOLIO INSTITUTIONAL SHARES			JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES			JANUS HENDERSON VIT RESEARCH PORTFOLIO			JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO
INVESTMENT INCOME:
Dividends	$	1,174		$	2,616		$	1,281		$	4,906		$	1,563		$	124
EXPENSES:
Mortality and expense risk		665			1,781			638			2,312			2,431			264
NET INVESTMENT INCOME (LOSS)		509			835			643			2,594			(868	)		(140	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		98			2,030			(2,985	)		(4,935	)		2,599			348
Realized gain distributions		3,545			7,899									13,561			2,127
Net realized gain (loss) on investments		3,643			9,929			(2,985	)		(4,935	)		16,160			2,475
Change in net unrealized appreciation (depreciation) on investments		(14,199	)		(16,252	)		(8,249	)		(39,315	)		(24,306	)		(6,183	)
Net realized and unrealized gain (loss) on investments		(10,556	)		(6,323	)		(11,234	)		(44,250	)		(8,146	)		(3,708	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(10,047	)	$	(5,488	)	$	(10,591	)	$	(41,656	)	$	(9,014	)	$	(3,848	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO			LVIP BARON GROWTH OPPORTUNITIES FUND			MFS VIT II INTERNATIONAL VALUE PORTFOLIO			MFS VIT III MID CAP VALUE PORTFOLIO			MFS VIT UTILITIES SERIES			MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO
INVESTMENT INCOME:
Dividends	$	22,460		$			$	16,251		$	992		$	3,521		$	22,627
EXPENSES:
Mortality and expense risk		8,654			12,297			13,689			444			2,379			7,260
NET INVESTMENT INCOME (LOSS)		13,806			(12,297	)		2,562			548			1,142			15,367
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		2,116			86,162			80,385			99			(4,829	)		46,358
Realized gain distributions					57,853			20,204			7,132			1,610
Net realized gain (loss) on investments		2,116			144,015			100,589			7,231			(3,219	)		46,358
Change in net unrealized appreciation (depreciation) on investments		(260,722	)		(167,396	)		(297,183	)		(37,550	)		(3,281	)		(137,855	)
Net realized and unrealized gain (loss) on investments		(258,606	)		(23,381	)		(196,594	)		(30,319	)		(6,500	)		(91,497	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(244,800	)	$	(35,678	)	$	(194,032	)	$	(29,771	)	$	(5,358	)	$	(76,130	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO			NVIT MID CAP INDEX FUND			OPPENHEIMER GLOBAL FUND/VA			OPPENHEIMER INTERNATIONAL GROWTH FUND/VA			OPPENHEIMER MAIN STREET SMALL CAP FUND/VA			PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO
INVESTMENT INCOME:
Dividends	$	40		$	12,719		$	11,134		$	3,162		$	256		$	2,919
EXPENSES:
Mortality and expense risk		150			8,132			9,617			2,288			642			793
NET INVESTMENT INCOME (LOSS)		(110	)		4,587			1,517			874			(386	)		2,126
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		462			1,797			110,947			(182	)		(97	)		(2,182	)
Realized gain distributions		685			105,003			78,716			7,155			10,536
Net realized gain (loss) on investments		1,147			106,800			189,663			6,973			10,439			(2,182	)
Change in net unrealized appreciation (depreciation) on investments		(3,760	)		(253,973	)		(344,732	)		(83,547	)		(22,104	)		(19,809	)
Net realized and unrealized gain (loss) on investments		(2,613	)		(147,173	)		(155,069	)		(76,574	)		(11,665	)		(21,991	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(2,723	)	$	(142,586	)	$	(153,552	)	$	(75,700	)	$	(12,051	)	$	(19,865	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	PIMCO VIT EMERGING MARKETS BOND PORTFOLIO			PIMCO VIT HIGH YIELD PORTFOLIO			PIMCO VIT LOW DURATION PORTFOLIO			PIMCO VIT REAL RETURN PORTFOLIO			PIMCO VIT TOTAL RETURN PORTFOLIO			PIONEER FUND VCT PORTFOLIO
	(1)
INVESTMENT INCOME:
Dividends	$	562		$	47,169		$	58,218		$	3,948		$	103,662		$	1,764
EXPENSES:
Mortality and expense risk		65			7,364			23,077			980			31,862			1,283
NET INVESTMENT INCOME (LOSS)		497			39,805			35,141			2,968			71,800			481
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(3	)		(1,172	)		(20,662	)		(818	)		(17,048	)		(1,082	)
Realized gain distributions														49,595			36,904
Net realized gain (loss) on investments		(3	)		(1,172	)		(20,662	)		(818	)		32,547			35,822
Change in net unrealized appreciation (depreciation) on investments		(1,065	)		(71,383	)		(26,673	)		(6,573	)		(156,067	)		(39,707	)
Net realized and unrealized gain (loss) on investments		(1,068	)		(72,555	)		(47,335	)		(7,391	)		(123,520	)		(3,885	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(571	)	$	(32,750	)	$	(12,194	)	$	(4,423	)	$	(51,720	)	$	(3,404	)

(1) For the period March 13, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	PIONEER MID CAP VALUE VCT PORTFOLIO			PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO			PRUDENTIAL SERIES FUND EQUITY PORTFOLIO			PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO			PUTNAM VT EQUITY INCOME FUND			PUTNAM VT GLOBAL ASSET ALLOCATION FUND
INVESTMENT INCOME:
Dividends	$	731		$			$			$			$	4,804		$	1,728
EXPENSES:
Mortality and expense risk		1,378			2,018			1,782			156			4,796			545
NET INVESTMENT INCOME (LOSS)		(647	)		(2,018	)		(1,782	)		(156	)		8			1,183
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		374			7,854			38,929			(44	)		28,984			(10	)
Realized gain distributions		13,350			32,572									30,811			6,443
Net realized gain (loss) on investments		13,724			40,426			38,929			(44	)		59,795			6,433
Change in net unrealized appreciation (depreciation) on investments		(47,760	)		(54,399	)		(39,692	)		(3,412	)		(127,714	)		(14,005	)
Net realized and unrealized gain (loss) on investments		(34,036	)		(13,973	)		(763	)		(3,456	)		(67,919	)		(7,572	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(34,683	)	$	(15,991	)	$	(2,545	)	$	(3,612	)	$	(67,911	)	$	(6,389	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	PUTNAM VT GLOBAL HEALTH CARE FUND			PUTNAM VT INCOME FUND			PUTNAM VT INTERNATIONAL VALUE FUND			PUTNAM VT MORTGAGE SECURITIES FUND			PUTNAM VT MULTI-CAP CORE FUND			ROYCE CAPITAL FUND - SMALL- CAP PORTFOLIO
INVESTMENT INCOME:
Dividends	$	4,508		$	6,096		$	1,723		$	13,436		$	1,355		$	342
EXPENSES:
Mortality and expense risk		3,977			936			385			3,470			581			872
NET INVESTMENT INCOME (LOSS)		531			5,160			1,338			9,966			774			(530	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(7,648	)		(76	)		63			(988	)		5,579			(3,294	)
Realized gain distributions		75,102												9,516			1,400
Net realized gain (loss) on investments		67,454			(76	)		63			(988	)		15,095			(1,894	)
Change in net unrealized appreciation (depreciation) on investments		(77,055	)		(5,357	)		(16,158	)		(16,986	)		(20,668	)		(7,248	)
Net realized and unrealized gain (loss) on investments		(9,601	)		(5,433	)		(16,095	)		(17,974	)		(5,573	)		(9,142	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(9,070	)	$	(273	)	$	(14,757	)	$	(8,008	)	$	(4,799	)	$	(9,672	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO		SCHWAB MARKETTRACK GROWTH PORTFOLIO II			SCHWAB S&P 500 INDEX PORTFOLIO			SCHWAB VIT BALANCED PORTFOLIO			SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO			SCHWAB VIT GROWTH PORTFOLIO
				(1)						(2)						(3)
INVESTMENT INCOME:
Dividends	$	97,709	$	12,785		$	312,546		$	1,265		$	28,894		$	2,824
EXPENSES:
Mortality and expense risk		48,862		5,479			145,302			264			7,259			955
NET INVESTMENT INCOME (LOSS)		48,847		7,306			167,244			1,001			21,635			1,869
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares				(254,509	)		946,922			(7	)		74,008			(5	)
Realized gain distributions				428,636			16,695			135			2,606			654
Net realized gain (loss) on investments		0		174,127			963,617			128			76,614			649
Change in net unrealized appreciation (depreciation) on investments				(193,897	)		(2,278,523	)		(6,263	)		(119,527	)		(20,636	)
Net realized and unrealized gain (loss) on investments		0		(19,770	)		(1,314,906	)		(6,135	)		(42,913	)		(19,987	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	48,847	$	(12,464	)	$	(1,147,662	)	$	(5,134	)	$	(21,278	)	$	(18,118	)

(1) For the period January 1, 2018 to November 27, 2018.

(2) For the period June 7, 2018 to December 31, 2018.

(3) For the period April 10, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	T. ROWE PRICE HEALTH SCIENCES PORTFOLIO			T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II			TEMPLETON FOREIGN VIP FUND			TEMPLETON GLOBAL BOND VIP FUND			THIRD AVENUE VALUE PORTFOLIO			TVST TOUCHSTONE BOND FUND
INVESTMENT INCOME:
Dividends	$			$			$	14,790		$			$	947		$	22,687
EXPENSES:
Mortality and expense risk		156			106			4,010			4,878			435			7,500
NET INVESTMENT INCOME (LOSS)		(156	)		(106	)		10,780			(4,878	)		512			15,187
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		40			(137	)		(24,098	)		(4,296	)		3,337			(2,679	)
Realized gain distributions		1,742			1,109
Net realized gain (loss) on investments		1,782			972			(24,098	)		(4,296	)		3,337			(2,679	)
Change in net unrealized appreciation (depreciation) on investments		(1,651	)		(1,465	)		(64,771	)		18,452			(14,704	)		(38,532	)
Net realized and unrealized gain (loss) on investments		131			(493	)		(88,869	)		14,156			(11,367	)		(41,211	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(25	)	$	(599	)	$	(78,089	)	$	9,278		$	(10,855	)	$	(26,024	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	TVST TOUCHSTONE COMMON STOCK FUND			TVST TOUCHSTONE FOCUSED FUND			TVST TOUCHSTONE SMALL COMPANY FUND			VAN ECK VIP GLOBAL HARD ASSETS FUND			VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND			VANGUARD VIF CAPITAL GROWTH PORTFOLIO
INVESTMENT INCOME:
Dividends	$	4,254		$	1,758		$			$			$	18,733		$	1,829
EXPENSES:
Mortality and expense risk		2,525			2,173			1,233			1,239			1,872			1,326
NET INVESTMENT INCOME (LOSS)		1,729			(415	)		(1,233	)		(1,239	)		16,861			503
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(10,002	)		746			(134	)		(45,411	)		(6,842	)		28,744
Realized gain distributions		177,238			7,562			23,058									5,740
Net realized gain (loss) on investments		167,236			8,308			22,924			(45,411	)		(6,842	)		34,484
Change in net unrealized appreciation (depreciation) on investments		(199,268	)		(46,671	)		(39,424	)		(5,955	)		(25,745	)		(31,960	)
Net realized and unrealized gain (loss) on investments		(32,032	)		(38,363	)		(16,500	)		(51,366	)		(32,587	)		2,524
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(30,303	)	$	(38,778	)	$	(17,733	)	$	(52,605	)	$	(15,726	)	$	3,027

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO			VANGUARD VIF MID-CAP INDEX PORTFOLIO			VANGUARD VIF REAL ESTATE INDEX PORTFOLIO			VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO			WELLS FARGO VT DISCOVERY FUND			WELLS FARGO VT OMEGA GROWTH FUND
INVESTMENT INCOME:
Dividends	$	3,810		$	2,335		$	3,028		$	690		$			$
EXPENSES:
Mortality and expense risk		983			1,375			686			1,167			289			769
NET INVESTMENT INCOME (LOSS)		2,827			960			2,342			(477	)		(289	)		(769	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		(375	)		5,447			(1,991	)		623			109			1,773
Realized gain distributions		7,447			9,495			3,713			18,682			4,224			10,437
Net realized gain (loss) on investments		7,072			14,942			1,722			19,305			4,333			12,210
Change in net unrealized appreciation (depreciation) on investments		(20,219	)		(41,308	)		(7,305	)		(44,888	)		(6,573	)		(11,510	)
Net realized and unrealized gain (loss) on investments		(13,147	)		(26,366	)		(5,583	)		(25,583	)		(2,240	)		700
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(10,320	)	$	(25,406	)	$	(3,241	)	$	(26,060	)	$	(2,529	)	$	(69	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2018

	INVESTMENT DIVISIONS
	WELLS FARGO VT OPPORTUNITY FUND
INVESTMENT INCOME:
Dividends	$	280
EXPENSES:
Mortality and expense risk		1,261
NET INVESTMENT INCOME (LOSS)		(981	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on sale of fund shares		212
Realized gain distributions		14,107
Net realized gain (loss) on investments		14,319
Change in net unrealized appreciation (depreciation) on investments		(24,021	)
Net realized and unrealized gain (loss) on investments		(9,702	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(10,683	)

The accompanying notes are an integral part of these financial statements. (Concluded ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	AB VPS GROWTH AND INCOME PORTFOLIO					AB VPS GROWTH PORTFOLIO						AB VPS INTERNATIONAL GROWTH PORTFOLIO
	2018			2017		2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	472		$	698	$	(1,256	)	$	(950	)	$	(501	)	$	68
Net realized gain (loss) on investments		18,000			8,413		20,826			8,458			2,960			15,559
Change in net unrealized appreciation (depreciation) on investments		(28,041	)		5,805		(19,931	)		25,844			(68,856	)		46,409
Increase (decrease) in net assets resulting from operations		(9,569	)		14,916		(361	)		33,352			(66,397	)		62,036
CONTRACT TRANSACTIONS:
Purchase payments received		31,028			12,800		7,866
Transfers for contract benefits and terminations		(800	)				(371	)					(15,399	)		(9,237	)
Net transfers		(2,467	)		38,351		37,816			(22,315	)		69,631			64,350
Contract charges																(3	)
Adjustments to net assets allocated to contracts in payout phase													(4,676	)		(2,744	)
Increase (decrease) in net assets resulting from contract transactions		27,761			51,151		45,311			(22,315	)		49,556			52,366
Total increase (decrease) in net assets		18,192			66,067		44,950			11,037			(16,841	)		114,402
NET ASSETS:
Beginning of period		126,305			60,238		120,727			109,690			311,865			197,463
End of period	$	144,497		$	126,305	$	165,677		$	120,727		$	295,024		$	311,865
CHANGES IN UNITS OUTSTANDING:
Units issued		2,246			3,945		2,794			160			4,037			11,169
Units redeemed		(272	)				(454	)		(1,199	)		(1,020	)		(7,954	)
Net increase (decrease)		1,974			3,945		2,340			(1,039	)		3,017			3,215

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	AB VPS INTERNATIONAL VALUE PORTFOLIO						AB VPS REAL ESTATE INVESTMENT PORTFOLIO						AB VPS SMALL/MID CAP VALUE PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	693		$	1,435		$	3,311		$	5,041		$	(885	)	$	(1,007	)
Net realized gain (loss) on investments		81			9			6,720			(27,334	)		37,292			24,849
Change in net unrealized appreciation (depreciation) on investments		(25,940	)		19,785			(18,894	)		44,080			(95,413	)		18,410
Increase (decrease) in net assets resulting from operations		(25,166	)		21,229			(8,863	)		21,787			(59,006	)		42,252
CONTRACT TRANSACTIONS:
Purchase payments received											26,514			73,173			12,800
Transfers for contract benefits and terminations		(784	)		(114	)		(932	)		(5,454	)		(6,328	)		(7,559	)
Net transfers								(26,122	)		(165,814	)		(52,914	)		(92,903	)
Contract charges					(2	)											(18	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(784	)		(116	)		(27,054	)		(144,754	)		13,931			(87,680	)
Total increase (decrease) in net assets		(25,950	)		21,113			(35,917	)		(122,967	)		(45,075	)		(45,428	)
NET ASSETS:
Beginning of period		108,187			87,074			245,130			368,097			351,241			396,669
End of period	$	82,237		$	108,187		$	209,213		$	245,130		$	306,166		$	351,241
CHANGES IN UNITS OUTSTANDING:
Units issued								1,771			6,112			5,313			1,130
Units redeemed		(80	)		(13	)		(3,758	)		(13,093	)		(3,592	)		(6,237	)
Net increase (decrease)		(80	)		(13	)		(1,987	)		(6,981	)		1,721			(5,107	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	ALGER CAPITAL APPRECIATION PORTFOLIO						ALGER LARGE CAP GROWTH PORTFOLIO						ALGER MID CAP GROWTH PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(256	)	$	(100	)	$	(13,150	)	$	(10,863	)	$	(2,923	)	$	(2,661	)
Net realized gain (loss) on investments		11,121			4,931			439,307			153,448			147,160			25,077
Change in net unrealized appreciation (depreciation) on investments		(10,232	)		4,119			(424,195	)		169,690			(164,853	)		59,783
Increase (decrease) in net assets resulting from operations		633			8,950			1,962			312,275			(20,616)			82,199
CONTRACT TRANSACTIONS:
Purchase payments received					42,865
Transfers for contract benefits and terminations		(3,098	)		(1,011	)		(32,243	)		(55,213	)		(16,281	)		(16,654	)
Net transfers		(7,480	)		(3,526	)		(27,156	)		(44,920	)		(57,063	)		7,732
Contract charges											(46	)					(6	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(10,578	)		38,328			(59,399	)		(100,179	)		(73,344	)		(8,928	)
Total increase (decrease) in net assets		(9,945	)		47,278			(57,437	)		212,096			(93,960	)		73,271
NET ASSETS:
Beginning of period		59,210			11,932			1,381,472			1,169,376			368,111			294,840
End of period	$	49,265		$	59,210		$	1,324,035		$	1,381,472		$	274,151		$	368,111
CHANGES IN UNITS OUTSTANDING:
Units issued		670			3,874			14,497			3,518			5,769			1,187
Units redeemed		(1,410	)		(531	)		(16,091	)		(10,630	)		(8,209	)		(963	)
Net increase (decrease)		(740	)		3,343			(1,594	)		(7,112	)		(2,440	)		224

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO						AMERICAN CENTURY INVESTMENTS VP BALANCED FUND						AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH FUND
	2018			2017			2018			2017			2018			2017
				(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	663		$	345		$	5,820		$	6,143		$	4,018		$	1,539
Net realized gain (loss) on investments		37						1,301			25,704			16,686			3,324
Change in net unrealized appreciation (depreciation) on investments		(2,376	)		(34	)		(50,360	)		60,447			(83,633	)		10,244
Increase (decrease) in net assets resulting from operations		(1,676	)		311			(43,239	)		92,294			(62,929	)		15,107
CONTRACT TRANSACTIONS:
Purchase payments received					12,799			6,264			262,873			456,832			26,918
Transfers for contract benefits and terminations		(1	)					(73,874	)		(48,946	)		(26,794	)
Net transfers								252,867			(120,839	)		18,369			(13,476	)
Contract charges											(9	)
Adjustments to net assets allocated to contracts in payout phase								(116	)		89
Increase (decrease) in net assets resulting from contract transactions		(1	)		12,799			185,141			93,168			448,407			13,442
Total increase (decrease) in net assets		(1,677	)		13,110			141,902			185,462			385,478			28,549
NET ASSETS:
Beginning of period		13,110			0			831,531			646,069			89,134			60,585
End of period	$	11,433		$	13,110		$	973,433		$	831,531		$	474,612		$	89,134
CHANGES IN UNITS OUTSTANDING:
Units issued					994			25,572			23,214			36,117			2,381
Units redeemed								(6,385	)		(8,412	)		(4,433	)		(1,192	)
Net increase (decrease)		0			994			19,187			14,802			31,684			1,189

(1) For the period August 7, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND						AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND						AMERICAN CENTURY INVESTMENTS VP VALUE FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,042		$	37		$	1,925		$	2,113		$	16,348		$	15,944
Net realized gain (loss) on investments		19,453			225			24,225			10,284			54,033			136,789
Change in net unrealized appreciation (depreciation) on investments		(56,080	)		43,288			(70,247	)		18,245			(279,680	)		(16,297	)
Increase (decrease) in net assets resulting from operations		(35,585	)		43,550			(44,097	)		30,642			(209,299	)		136,436
CONTRACT TRANSACTIONS:
Purchase payments received					16,908			3,151			36,347			401,091			65,566
Transfers for contract benefits and terminations		(1,346	)					(13,840	)		(5,281	)		(57,115	)		(42,918	)
Net transfers		20,808			2,224			(25,843	)		28,340			(21,868	)		(278,066	)
Contract charges					(14	)					(5	)					(26	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		19,462			19,118			(36,532	)		59,401			322,108			(255,444	)
Total increase (decrease) in net assets		(16,123	)		62,668			(80,629	)		90,043			112,809			(119,008	)
NET ASSETS:
Beginning of period		199,107			136,439			337,562			247,519			1,731,542			1,850,550
End of period	$	182,984		$	199,107		$	256,933		$	337,562		$	1,844,351		$	1,731,542
CHANGES IN UNITS OUTSTANDING:
Units issued		3,319			1,895			1,729			6,053			33,069			8,052
Units redeemed		(964	)		(1	)		(2,955	)		(1,794	)		(6,937	)		(17,174	)
Net increase (decrease)		2,355			1,894			(1,226	)		4,259			26,132			(9,122	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	AMERICAN FUNDS IS GLOBAL GROWTH FUND						AMERICAN FUNDS IS INTERNATIONAL FUND			AMERICAN FUNDS IS NEW WORLD FUND
	2018			2017			2018			2018			2017
				(1)			(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	594		$	390		$	(26	)	$	398		$	291
Net realized gain (loss) on investments		9,891			1,297			(2,564	)		3,307			693
Change in net unrealized appreciation (depreciation) on investments		(25,529	)		5,638						(18,837	)		5,731
Increase (decrease) in net assets resulting from operations		(15,044	)		7,325			(2,590	)		(15,132	)		6,715
CONTRACT TRANSACTIONS:
Purchase payments received		34,263			41,040						20,685			45,085
Transfers for contract benefits and terminations		(2,385	)		(817	)					(2,942	)		(604	)
Net transfers		27,455			23,531			2,590			27,267			(609	)
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		59,333			63,754			2,590			45,010			43,872
Total increase (decrease) in net assets		44,289			71,079			0			29,878			50,587
NET ASSETS:
Beginning of period		71,079			0			0			53,335			2,748
End of period	$	115,368		$	71,079		$	0		$	83,213		$	53,335
CHANGES IN UNITS OUTSTANDING:
Units issued		4,551			5,224			1,885			4,149			4,063
Units redeemed		(637	)		(262	)		(1,885	)		(859	)		(334	)
Net increase (decrease)		3,914			4,962			0			3,290			3,729

(1) For the period April 20, 2017 to December 31, 2017.

(2) For the period March 19, 2018 to November 6, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	BLACKROCK GLOBAL ALLOCATION VI FUND						CLEARBRIDGE VARIABLE MID CAP PORTFOLIO						CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO
	2018			2017			2018			2017			2018			2017
										(1)						(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	2,046		$	1,714		$	(48	)	$	(30	)	$	(605	)	$	(361	)
Net realized gain (loss) on investments		16,955			6,479			576			1,768			11,742			1,446
Change in net unrealized appreciation (depreciation) on investments		(56,091	)		26,423			(4,752	)		110			(14,990	)		9,607
Increase (decrease) in net assets resulting from operations		(37,090	)		34,616			(4,224	)		1,848			(3,853	)		10,692
CONTRACT TRANSACTIONS:
Purchase payments received		206,237			60,872
Transfers for contract benefits and terminations		(3,144	)					1
Net transfers		303			(42,868	)					30,419			32,403			59,493
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		203,396			18,004			1			30,419			32,403			59,493
Total increase (decrease) in net assets		166,306			52,620			(4,223	)		32,267			28,550			70,185
NET ASSETS:
Beginning of period		269,942			217,322			32,267			0			70,185			0
End of period	$	436,248		$	269,942		$	28,044		$	32,267		$	98,735		$	70,185
CHANGES IN UNITS OUTSTANDING:
Units issued		18,053			5,901						2,602			2,209			5,644
Units redeemed		(274	)		(3,760	)								(126	)
Net increase (decrease)		17,779			2,141			0			2,602			2,083			5,644

(1) For the period March 6, 2017 to December 31, 2017.

(2) For the period February 14, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND						COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND						COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(2,399	)	$	(1,361	)	$	(6,992	)	$	(5,262	)	$	(912	)	$	(259	)
Net realized gain (loss) on investments		18,023			11,419			83,656			164,027			11,907			1,598
Change in net unrealized appreciation (depreciation) on investments		(114,860	)		34,353			(154,174	)		8,171			(42,910	)		2,267
Increase (decrease) in net assets resulting from operations		(99,236	)		44,411			(77,510	)		166,936			(31,915	)		3,606
CONTRACT TRANSACTIONS:
Purchase payments received		656,780			40,426			8,650			32,210
Transfers for contract benefits and terminations		(6,566	)		(2,933	)		(15,418	)		(1,872	)		(80	)
Net transfers		(2,788	)		(42,166	)		102			190,640			9,134			98,408
Contract charges					(3	)					(4	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		647,426			(4,676	)		(6,666	)		220,974			9,054			98,408
Total increase (decrease) in net assets		548,190			39,735			(84,176	)		387,910			(22,861	)		102,014
NET ASSETS:
Beginning of period		184,017			144,282			812,950			425,040			120,982			18,968
End of period	$	732,207		$	184,017		$	728,774		$	812,950		$	98,121		$	120,982
CHANGES IN UNITS OUTSTANDING:
Units issued		47,292			4,267			1,604			10,789			5,417			3,442
Units redeemed		(3,611	)		(4,209	)		(2,051	)		(689	)		(5,419	)		(392	)
Net increase (decrease)		43,681			58			(447	)		10,100			(2	)		3,050

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	DELAWARE VIP EMERGING MARKETS SERIES						DELAWARE VIP SMALL CAP VALUE SERIES						DELAWARE VIP SMID CAP CORE SERIES
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	4,115		$	(214	)	$	399		$	221		$	(1,398	)	$	(820	)
Net realized gain (loss) on investments		(1,722	)		416			55,753			23,294			66,227			10,322
Change in net unrealized appreciation (depreciation) on investments		(39,901	)		5,955			(151,642	)		40,794			(102,241	)		19,513
Increase (decrease) in net assets resulting from operations		(37,508	)		6,157			(95,490	)		64,309			(37,412	)		29,015
CONTRACT TRANSACTIONS:
Purchase payments received		125,197			32,191			6,468			26,957			53,942			14,157
Transfers for contract benefits and terminations		(11,618	)		(2,108	)		(40,162	)		(45,736	)		(9,755	)		(4,150	)
Net transfers		55,211			92,970			(102,551	)		174,851			20,602			5,730
Contract charges											(3	)					(3	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		168,790			123,053			(136,245	)		156,069			64,789			15,734
Total increase (decrease) in net assets		131,282			129,210			(231,735	)		220,378			27,377			44,749
NET ASSETS:
Beginning of period		136,816			7,606			691,321			470,943			205,511			160,762
End of period	$	268,098		$	136,816		$	459,586		$	691,321		$	232,888		$	205,511
CHANGES IN UNITS OUTSTANDING:
Units issued		19,650			10,470			460			8,022			4,763			2,625
Units redeemed		(4,520	)		(196	)		(5,096	)		(1,674	)		(734	)		(1,306	)
Net increase (decrease)		15,130			10,274			(4,636	)		6,348			4,029			1,319

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	DELAWARE VIP VALUE SERIES			DIMENSIONAL VA US TARGETED VALUE PORTFOLIO						DREYFUS IP MIDCAP STOCK PORTFOLIO
	2018			2018			2017			2018			2017
	(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	302		$	537		$	471		$	(789	)	$	137
Net realized gain (loss) on investments		325			6,482			4,378			23,478			3,023
Change in net unrealized appreciation (depreciation) on investments					(23,555	)		1,974			(95,057	)		9,415
Increase (decrease) in net assets resulting from operations		627			(16,536	)		6,823			(72,368	)		12,575
CONTRACT TRANSACTIONS:
Purchase payments received					33,504			3,143			400,966			14,157
Transfers for contract benefits and terminations					(1,512	)					(27,078	)		(2,397	)
Net transfers		(627	)		3,419			19,664			1,086			(420	)
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(627	)		35,411			22,807			374,974			11,340
Total increase (decrease) in net assets		0			18,875			29,630			302,606			23,915
NET ASSETS:
Beginning of period		0			71,385			41,755			101,671			77,756
End of period	$	0		$	90,260		$	71,385		$	404,277		$	101,671
CHANGES IN UNITS OUTSTANDING:
Units issued		2,006			3,035			2,016			31,251			1,152
Units redeemed		(2,006	)		(285	)		(70	)		(2,884	)		(138	)
Net increase (decrease)		0			2,750			1,946			28,367			1,014

(1) For the period March 19, 2018 to November 6, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	DREYFUS VIF APPRECIATION PORTFOLIO						DREYFUS VIF GROWTH AND INCOME PORTFOLIO						DWS CAPITAL GROWTH VIP
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,851		$	2,501		$	(64	)	$	(141	)	$	(810	)	$	(440	)
Net realized gain (loss) on investments		44,175			40,806			24,977			9,128			106,892			112,408
Change in net unrealized appreciation (depreciation) on investments		(78,997	)		72,217			(34,869	)		24,864			(129,116	)		93,430
Increase (decrease) in net assets resulting from operations		(32,971	)		115,524			(9,956	)		33,851			(23,034	)		205,398
CONTRACT TRANSACTIONS:
Purchase payments received														66			12,860
Transfers for contract benefits and terminations		(27,794	)		(15,602	)		(19,608	)		(1,823	)		(14,924	)		(13,496	)
Net transfers		(33,428	)		(122,631	)								(5,802	)		(10,753	)
Contract charges					(13	)					(1	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(61,222	)		(138,246	)		(19,608	)		(1,824	)		(20,660	)		(11,389	)
Total increase (decrease) in net assets		(94,193	)		(22,722	)		(29,564	)		32,027			(43,694	)		194,009
NET ASSETS:
Beginning of period		490,139			512,861			213,623			181,596			976,935			782,926
End of period	$	395,946		$	490,139		$	184,059		$	213,623		$	933,241		$	976,935
CHANGES IN UNITS OUTSTANDING:
Units issued		1,330			42									1,174			6,035
Units redeemed		(4,104	)		(6,898	)		(828	)		(87	)		(2,127	)		(5,362	)
Net increase (decrease)		(2,774	)		(6,856	)		(828	)		(87	)		(953	)		673

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	DWS CORE EQUITY VIP						DWS CROCI® U.S. VIP						DWS GLOBAL SMALL CAP VIP
	2018			2017			2018			2017			2018			2017
																(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,959		$	831		$	4,371		$	1,803		$	(492	)	$	(170	)
Net realized gain (loss) on investments		59,559			12,747			24,651			4,577			17,245			1
Change in net unrealized appreciation (depreciation) on investments		(77,918	)		18,348			(57,875	)		47,141			(45,327	)		4,374
Increase (decrease) in net assets resulting from operations		(16,400	)		31,926			(28,853	)		53,521			(28,574	)		4,205
CONTRACT TRANSACTIONS:
Purchase payments received					4,085
Transfers for contract benefits and terminations		(30,042	)		(2,219	)		(12,632	)		(15,600	)		(1,833	)		(298	)
Net transfers		56,099			57,218			(18,218	)		(5,043	)					133,712
Contract charges											(8	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		26,057			59,084			(30,850	)		(20,651	)		(1,833	)		133,414
Total increase (decrease) in net assets		9,657			91,010			(59,703	)		32,870			(30,407	)		137,619
NET ASSETS:
Beginning of period		213,388			122,378			284,034			251,164			137,619			0
End of period	$	223,045		$	213,388		$	224,331		$	284,034		$	107,212		$	137,619
CHANGES IN UNITS OUTSTANDING:
Units issued		3,637			4,592			92									11,927
Units redeemed		(1,384	)		(112	)		(1,821	)		(1,160	)		(162	)		(27	)
Net increase (decrease)		2,253			4,480			(1,729	)		(1,160	)		(162	)		11,900

(1) For the period October 19, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	DWS SMALL CAP INDEX VIP						DWS SMALL MID CAP GROWTH VIP						DWS SMALL MID CAP VALUE VIP
	2018			2017			2018			2017			2018			2017
										(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	2,847		$	2,136		$	(94	)	$	(35	)	$	890		$	(103	)
Net realized gain (loss) on investments		100,941			59,283			4,642			2			28,813			4,816
Change in net unrealized appreciation (depreciation) on investments		(252,146	)		70,231			(6,525	)		1,206			(55,241	)		9,691
Increase (decrease) in net assets resulting from operations		(148,358	)		131,650			(1,977	)		1,173			(25,538	)		14,404
CONTRACT TRANSACTIONS:
Purchase payments received		5,551			16,650						12,799
Transfers for contract benefits and terminations		(12,743	)		(83,038	)								(5,262	)		(3,889	)
Net transfers		20,901			191,304									(5,305	)		5,675
Contract charges					(1	)											(5	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		13,709			124,915			0			12,799			(10,567	)		1,781
Total increase (decrease) in net assets		(134,649	)		256,565			(1,977	)		13,972			(36,105	)		16,185
NET ASSETS:
Beginning of period		1,245,979			989,414			13,972			0			162,043			145,858
End of period	$	1,111,330		$	1,245,979		$	11,995		$	13,972		$	125,938		$	162,043
CHANGES IN UNITS OUTSTANDING:
Units issued		11,410			18,985						1,004			23			310
Units redeemed		(7,439	)		(7,007	)								(557	)		(208	)
Net increase (decrease)		3,971			11,978			0			1,004			(534	)		102

(1) For the period August 8, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II						FEDERATED MANAGED TAIL RISK FUND II						FEDERATED MANAGED VOLATILITY FUND II
	2018			2017			2018			2017			2018			2017
							(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	22,250		$	24,377		$	2,271		$	622		$	388		$	854
Net realized gain (loss) on investments		(3,971	)		(5,358	)		(15,196	)		(3,001	)		161			80
Change in net unrealized appreciation (depreciation) on investments		(21,612	)		(1,712	)		12,223			10,188			(9,898	)		3,561
Increase (decrease) in net assets resulting from operations		(3,333	)		17,307			(702	)		7,809			(9,349	)		4,495
CONTRACT TRANSACTIONS:
Purchase payments received		26,730
Transfers for contract benefits and terminations		(45,719	)		(71,438	)		(451	)		(6,738	)
Net transfers		81,479			(83,632	)		(80,761	)					70,577
Contract charges					(25	)					(4	)					(1	)
Adjustments to net assets allocated to contracts in payout phase		(425	)		(5,128	)
Increase (decrease) in net assets resulting from contract transactions		62,065			(160,223	)		(81,212	)		(6,742	)		70,577			(1	)
Total increase (decrease) in net assets		58,732			(142,916	)		(81,914	)		1,067			61,228			4,494
NET ASSETS:
Beginning of period		1,423,225			1,566,141			81,914			80,847			30,761			26,267
End of period	$	1,481,957		$	1,423,225		$	0		$	81,914		$	91,989		$	30,761
CHANGES IN UNITS OUTSTANDING:
Units issued		11,159			7,852									2,922
Units redeemed		(4,320	)		(14,741	)		(5,305	)		(455	)
Net increase (decrease)		6,839			(6,889	)		(5,305	)		(455	)		2,922			0

(1) For the period January 1, 2018 to August 20, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	FRANKLIN SMALL CAP VALUE VIP FUND						GREAT-WEST ARIEL MID CAP VALUE FUND			GREAT-WEST AGGRESSIVE PROFILE FUND			GREAT-WEST BOND INDEX FUND			GREAT-WEST CONSERVATIVE PROFILE FUND
	2018			2017			2017			2018			2018			2018
							(1)			(2)			(3)			(4)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	54		$	(1,226	)	$	49		$	3,054		$	116		$	17,403
Net realized gain (loss) on investments		61,067			40,009			865			15,284			(1	)		18,647
Change in net unrealized appreciation (depreciation) on investments		(146,387	)		6,023			(457	)		(36,379	)		348			(64,047	)
Increase (decrease) in net assets resulting from operations		(85,266	)		44,806			457			(18,041	)		463			(27,997	)
CONTRACT TRANSACTIONS:
Purchase payments received		200,448												5,444			742,977
Transfers for contract benefits and terminations		(3,815	)		(9,465	)											(14,990	)
Net transfers		(53,456	)		(65,637	)		(8,934	)		139,997			30,000
Contract charges																	(3,735	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		143,177			(75,102	)		(8,934	)		139,997			35,444			724,252
Total increase (decrease) in net assets		57,911			(30,296	)		(8,477	)		121,956			35,907			696,255
NET ASSETS:
Beginning of period		482,440			512,736			8,477			0			0			0
End of period	$	540,351		$	482,440		$	0		$	121,956		$	35,907		$	696,255
CHANGES IN UNITS OUTSTANDING:
Units issued		18,273			891						13,845			3,532			73,627
Units redeemed		(6,239	)		(5,175	)		(850	)		(268	)					(1,864	)
Net increase (decrease)		12,034			(4,284	)		(850	)		13,577			3,532			71,763

(1) For the period January 1, 2017 to August 10, 2017.

(2) For the period June 18, 2018 to December 31, 2018.

(3) For the period August 14, 2018 to December 31, 2018.

(4) For the period June 6, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	GREAT-WEST MID CAP VALUE FUND						GREAT-WEST MODERATE PROFILE FUND			GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND			GREAT-WEST MULTI-SECTOR BOND FUND
	2018			2017			2018			2018			2018			2017
				(1)			(2)			(3)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,429		$	2,808		$	1,530		$	3,164		$	10,266		$	1,323
Net realized gain (loss) on investments		923			1,544			5,074			8,563			4,684			134
Change in net unrealized appreciation (depreciation) on investments		(6,930	)		(422	)		(14,102	)		(23,346	)		(40,566	)		1,637
Increase (decrease) in net assets resulting from operations		(4,578	)		3,930			(7,498	)		(11,619	)		(25,616	)		3,094
CONTRACT TRANSACTIONS:
Purchase payments received					19,410			92,147			202,779			775,022			98,038
Transfers for contract benefits and terminations		(1,380	)		(381	)								(15,672	)		(4,178	)
Net transfers		723			14,515									22,682			7,472
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(657	)		33,544			92,147			202,779			782,032			101,332
Total increase (decrease) in net assets		(5,235	)		37,474			84,649			191,160			756,416			104,426
NET ASSETS:
Beginning of period		37,474			0			0			0			115,069			10,643
End of period	$	32,239		$	37,474		$	84,649		$	191,160		$	871,485		$	115,069
CHANGES IN UNITS OUTSTANDING:
Units issued		112			2,905			9,011			20,039			77,620			9,821
Units redeemed		(150	)		(91	)								(5,911	)		(383	)
Net increase (decrease)		(38	)		2,814			9,011			20,039			71,709			9,438
	(1) For the period April 20, 2017 to December 31, 2017.
	(2) For the period July 16, 2018 to December 31, 2018.
	(3) For the period July 3, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	GREAT-WEST SECUREFOUNDATION® BALANCED FUND						GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND			INVESCO V.I. COMSTOCK FUND
	2018			2017			2018			2018			2017
							(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	206,926		$	191,796		$	(407	)	$	4,238		$	4,946
Net realized gain (loss) on investments		699,706			376,796			10,614			65,593			46,183
Change in net unrealized appreciation (depreciation) on investments		(1,819,883	)		1,010,198			(31,040	)		(126,256	)		18,537
Increase (decrease) in net assets resulting from operations		(913,251	)		1,578,790			(20,833	)		(56,425	)		69,666
CONTRACT TRANSACTIONS:
Purchase payments received		924,163			4,163,639			194,387			120,670			2,250
Transfers for contract benefits and terminations		(1,025,530	)		(548,749	)					(1,453	)		(23,663	)
Net transfers		(229,204	)		(57,801	)		12,645			(117,153	)		(131,173	)
Contract charges		(190,917	)		(126,409	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(521,488	)		3,430,680			207,032			2,064			(152,586	)
Total increase (decrease) in net assets		(1,434,739	)		5,009,470			186,199			(54,361	)		(82,920	)
NET ASSETS:
Beginning of period		15,930,960			10,921,490			0			415,794			498,714
End of period	$	14,496,221		$	15,930,960		$	186,199		$	361,433		$	415,794
CHANGES IN UNITS OUTSTANDING:
Units issued		75,519			368,518			17,235			8,781			362
Units redeemed		(117,761	)		(68,253	)		(195	)		(6,887	)		(8,921	)
Net increase (decrease)		(42,242	)		300,265			17,040			1,894			(8,559	)
	(1)   For the period March 19, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	INVESCO V.I. CORE EQUITY FUND						INVESCO V.I. GROWTH & INCOME FUND						INVESCO V.I. HIGH YIELD FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(63	)	$	248		$	21,734		$	11,955		$	7,708		$	4,165
Net realized gain (loss) on investments		18,182			9,883			175,293			60,995			612			175
Change in net unrealized appreciation (depreciation) on investments		(28,236	)		5,108			(415,488	)		93,280			(15,468	)		2,500
Increase (decrease) in net assets resulting from operations		(10,117	)		15,239			(218,461	)		166,230			(7,148	)		6,840
CONTRACT TRANSACTIONS:
Purchase payments received								110,695						3,627			33,546
Transfers for contract benefits and terminations					(7,954	)		(92,544	)		(33,393	)
Net transfers		(34,069	)					124,711			108,663			10,013			178
Contract charges					(18	)					(10	)					(6	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(34,069	)		(7,972	)		142,862			75,260			13,640			33,718
Total increase (decrease) in net assets		(44,186	)		7,267			(75,599	)		241,490			6,492			40,558
NET ASSETS:
Beginning of period		136,619			129,352			1,400,735			1,159,245			162,325			121,767
End of period	$	92,433		$	136,619		$	1,325,136		$	1,400,735		$	168,817		$	162,325
CHANGES IN UNITS OUTSTANDING:
Units issued								19,190			12,222			1,440			3,076
Units redeemed		(1,097	)		(278	)		(7,016	)		(9,402	)		(140	)
Net increase (decrease)		(1,097	)		(278	)		12,174			2,820			1,300			3,076

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	INVESCO V.I. INTERNATIONAL GROWTH FUND						INVESCO V.I. MID CAP CORE EQUITY FUND						INVESCO V.I. SMALL CAP EQUITY FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	5,902		$	3,648		$	(166	)	$	(47	)	$	(688	)	$	(426	)
Net realized gain (loss) on investments		10,855			21,048			12,997			1,850			8,790			2,984
Change in net unrealized appreciation (depreciation) on investments		(92,635	)		84,287			(22,882	)		8,779			(31,087	)		4,613
Increase (decrease) in net assets resulting from operations		(75,878	)		108,983			(10,051	)		10,582			(22,985	)		7,171
CONTRACT TRANSACTIONS:
Purchase payments received														61,344
Transfers for contract benefits and terminations		(8,408	)		(12,314	)					(916	)
Net transfers		(32,675	)		(112,496	)		(8,627	)		16,207			(874	)		22,496
Contract charges					(8	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(41,083	)		(124,818	)		(8,627	)		15,291			60,470			22,496
Total increase (decrease) in net assets		(116,961	)		(15,835	)		(18,678	)		25,873			37,485			29,667
NET ASSETS:
Beginning of period		522,310			538,145			93,464			67,591			68,974			39,307
End of period	$	405,349		$	522,310		$	74,786		$	93,464		$	106,459		$	68,974
CHANGES IN UNITS OUTSTANDING:
Units issued		1,541			1,815						1,073			4,662			1,685
Units redeemed		(4,914	)		(12,032	)		(366	)		(623	)		(68	)		(23	)
Net increase (decrease)		(3,373	)		(10,217	)		(366	)		450			4,594			1,662

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	INVESCO V.I. TECHNOLOGY FUND						IVY VIP INTERNATIONAL CORE EQUITY						JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(2,682	)	$	(2,397	)	$	334		$	48		$	7,047		$	3,834
Net realized gain (loss) on investments		28,392			19,747			1,165			49			22,124			1,373
Change in net unrealized appreciation (depreciation) on investments		(25,961	)		61,615			(18,563	)		3,492			(29,000	)		74,091
Increase (decrease) in net assets resulting from operations		(251	)		78,965			(17,064	)		3,589			171			79,298
CONTRACT TRANSACTIONS:
Purchase payments received								16,232
Transfers for contract benefits and terminations		(24,747	)		(10,409	)								(28,406	)		(24	)
Net transfers		(4,126	)		5,647			47,840			31,438
Contract charges					(28	)											(25	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(28,873	)		(4,790	)		64,072			31,438			(28,406	)		(49	)
Total increase (decrease) in net assets		(29,124	)		74,175			47,008			35,027			(28,235	)		79,249
NET ASSETS:
Beginning of period		303,264			229,089			43,907			8,880			534,191			454,942
End of period	$	274,140		$	303,264		$	90,915		$	43,907		$	505,956		$	534,191
CHANGES IN UNITS OUTSTANDING:
Units issued					457			6,121			3,041
Units redeemed		(4,441	)		(1,882	)		(26	)		(65	)		(956	)		(2	)
Net increase (decrease)		(4,441	)		(1,425	)		6,095			2,976			(956	)		(2	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES						JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES						JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	23,766		$	13,081		$	31,990		$	17,414		$	38,887		$	36,769
Net realized gain (loss) on investments		83,055			11,319			(6,466	)		597			(17,437	)		(3,191	)
Change in net unrealized appreciation (depreciation) on investments		(119,820	)		298,259			(33,387	)		4,841			(67,198	)		22,546
Increase (decrease) in net assets resulting from operations		(12,999	)		322,659			(7,863	)		22,852			(45,748	)		56,124
CONTRACT TRANSACTIONS:
Purchase payments received		195,328			84,915			1,190,056			98,038			14,192			535
Transfers for contract benefits and terminations		(115,293	)		(49,955	)		(38,275	)		(43,152	)		(69,024	)		(117,723	)
Net transfers		35,672			(1,477	)		(43,031	)		(112,690	)		(109,689	)		(170,900	)
Contract charges					(48	)					(7	)					(44	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		115,707			33,435			1,108,750			(57,811	)		(164,521	)		(288,132	)
Total increase (decrease) in net assets		102,708			356,094			1,100,887			(34,959	)		(210,269	)		(232,008	)
NET ASSETS:
Beginning of period		2,213,138			1,857,044			721,648			756,607			2,188,849			2,420,857
End of period	$	2,315,846		$	2,213,138		$	1,822,535		$	721,648		$	1,978,580		$	2,188,849
CHANGES IN UNITS OUTSTANDING:
Units issued		17,025			7,341			121,418			10,131			3,857			6,534
Units redeemed		(6,421	)		(2,888	)		(12,145	)		(13,364	)		(15,161	)		(25,414	)
Net increase (decrease)		10,604			4,453			109,273			(3,233	)		(11,304	)		(18,880	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO						JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES						JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES
	2018			2017			2018			2017			2018			2017
										(1)						(2)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,979		$	249		$	509		$	(94	)	$	835		$	(300	)
Net realized gain (loss) on investments		3,127			32,205			3,643			3			9,929			113
Change in net unrealized appreciation (depreciation) on investments		(46,554	)		74,514			(14,199	)		3,605			(16,252	)		9,104
Increase (decrease) in net assets resulting from operations		(41,448	)		106,968			(10,047	)		3,514			(5,488	)		8,917
CONTRACT TRANSACTIONS:
Purchase payments received								82,363									12,800
Transfers for contract benefits and terminations		(2,394	)		(2,482	)								(4,183	)		(616	)
Net transfers		56,612			(46,875	)		(139	)		83,917			40,649			201,557
Contract charges					(45	)
Adjustments to net assets allocated to contracts in payout phase		(191	)		268
Increase (decrease) in net assets resulting from contract transactions		54,027			(49,134	)		82,224			83,917			36,466			213,741
Total increase (decrease) in net assets		12,579			57,834			72,177			87,431			30,978			222,658
NET ASSETS:
Beginning of period		488,682			430,848			87,431			0			222,658			0
End of period	$	501,261		$	488,682		$	159,608		$	87,431		$	253,636		$	222,658
CHANGES IN UNITS OUTSTANDING:
Units issued		4,811			7,632			3,861			4,750			2,368			11,950
Units redeemed		(507	)		(9,842	)		(6	)					(691	)		(86	)
Net increase (decrease)		4,304			(2,210	)		3,855			4,750			1,677			11,864
		(1) For the period October 19, 2017 to December 31, 2017. (2) For the period August 7, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	JANUS HENDERSON VIT OVERSEAS PORTFOLIO INSTITUTIONAL SHARES						JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES						JANUS HENDERSON VIT RESEARCH PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	643		$	719		$	2,594		$	1,965		$	(868	)	$	(1,163	)
Net realized gain (loss) on investments		(2,985	)		(5,252	)		(4,935	)		(5,774	)		16,160			25,039
Change in net unrealized appreciation (depreciation) on investments		(8,249	)		27,656			(39,315	)		73,443			(24,306	)		36,658
Increase (decrease) in net assets resulting from operations		(10,591	)		23,123			(41,656	)		69,634			(9,014	)		60,534
CONTRACT TRANSACTIONS:
Purchase payments received											25
Transfers for contract benefits and terminations		(15,026	)		(18,878	)		(18,016	)		(20,367	)					(27,202	)
Net transfers		(3,551	)					(12,060	)		(9,210	)		(2,569	)		(28,986	)
Contract charges					(23	)					(8	)					(80	)
Adjustments to net assets allocated to contracts in payout phase					(6,885	)
Increase (decrease) in net assets resulting from contract transactions		(18,577	)		(25,786	)		(30,076	)		(29,560	)		(2,569	)		(56,268	)
Total increase (decrease) in net assets		(29,168	)		(2,663	)		(71,732	)		40,074			(11,583	)		4,266
NET ASSETS:
Beginning of period		85,869			88,532			283,972			243,898			270,824			266,558
End of period	$	56,701		$	85,869		$	212,240		$	283,972		$	259,241		$	270,824
CHANGES IN UNITS OUTSTANDING:
Units issued					201			4,694			1,643
Units redeemed		(706	)		(768	)		(7,865	)		(4,877	)		(72	)		(1,982	)
Net increase (decrease)		(706	)		(567	)		(3,171	)		(3,234	)		(72	)		(1,982	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	JPMORGAN INSURANCE TRUST INTREPID MID CAP PORTFOLIO			JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO						LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO
	2017			2018			2017			2018			2017
	(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(54	)	$	(140	)	$	(142	)	$	13,806		$	12,037
Net realized gain (loss) on investments		1,710			2,475			469			2,116			3,712
Change in net unrealized appreciation (depreciation) on investments		(674	)		(6,183	)		3,857			(260,722	)		210,763
Increase (decrease) in net assets resulting from operations		982			(3,848	)		4,184			(244,800	)		226,512
CONTRACT TRANSACTIONS:
Purchase payments received											17,249
Transfers for contract benefits and terminations					(1,698	)		(1,947	)		(18,625	)		(73,819	)
Net transfers		(21,734	)								44,523			290,529
Contract charges														(12	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(21,734	)		(1,698	)		(1,947	)		43,147			216,698
Total increase (decrease) in net assets		(20,752	)		(5,546	)		2,237			(201,653	)		443,210
NET ASSETS:
Beginning of period		20,752			32,600			30,363			1,243,137			799,927
End of period	$	0		$	27,054		$	32,600		$	1,041,484		$	1,243,137
CHANGES IN UNITS OUTSTANDING:
Units issued											12,474			28,296
Units redeemed		(2,032	)		(117	)		(151	)		(8,073	)		(10,457	)
Net increase (decrease)		(2,032	)		(117	)		(151	)		4,401			17,839

(1) For the period January 1, 2017 to May 22, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	LVIP BARON GROWTH OPPORTUNITIES FUND						MFS VIT II INTERNATIONAL VALUE PORTFOLIO						MFS VIT III MID CAP VALUE PORTFOLIO
	2018			2017			2018			2017			2018			2017
																(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(12,297	)	$	(12,430	)	$	2,562		$	7,647		$	548		$	3
Net realized gain (loss) on investments		144,015			176,342			100,589			60,012			7,231			59
Change in net unrealized appreciation (depreciation) on investments		(167,396	)		182,845			(297,183	)		282,496			(37,550	)		1,111
Increase (decrease) in net assets resulting from operations		(35,678	)		346,757			(194,032	)		350,155			(29,771	)		1,173
CONTRACT TRANSACTIONS:
Purchase payments received					12,800			124,735			59,206			200,543			1,962
Transfers for contract benefits and terminations		(90,471	)		(58,686	)		(39,451	)		(159,098	)		(2,490	)
Net transfers		(216,451	)		(200,445	)		(411,322	)		663,068						19,986
Contract charges					(17	)					(12	)
Adjustments to net assets allocated to contracts in payout phase		841			3,598						(5,104	)
Increase (decrease) in net assets resulting from contract transactions		(306,081	)		(242,750	)		(326,038	)		558,060			198,053			21,948
Total increase (decrease) in net assets		(341,759	)		104,007			(520,070	)		908,215			168,282			23,121
NET ASSETS:
Beginning of period		1,505,223			1,401,216			2,109,657			1,201,442			23,121			0
End of period	$	1,163,464		$	1,505,223		$	1,589,587		$	2,109,657		$	191,403		$	23,121
CHANGES IN UNITS OUTSTANDING:
Units issued		333			2,389			11,596			44,989			19,052			2,114
Units redeemed		(6,641	)		(7,785	)		(21,195	)		(11,875	)		(1,318	)
Net increase (decrease)		(6,308	)		(5,396	)		(9,599	)		33,114			17,734			2,114

(1) For the period July 25, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	MFS VIT UTILITIES SERIES						MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO						NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,142		$	9,154		$	15,367		$	6,973		$	(110	)	$	(65	)
Net realized gain (loss) on investments		(3,219	)		803			46,358			109,666			1,147			187
Change in net unrealized appreciation (depreciation) on investments		(3,281	)		24,073			(137,855	)		(98,091	)		(3,760	)		2,443
Increase (decrease) in net assets resulting from operations		(5,358	)		34,030			(76,130	)		18,548			(2,723	)		2,565
CONTRACT TRANSACTIONS:
Purchase payments received								(468	)		475
Transfers for contract benefits and terminations		(19,588	)		(6,729	)		(23,837	)		(6,186	)		(1,988	)
Net transfers		115,505			476			(56,890	)		(162,899	)					(1,123	)
Contract charges					(3	)					(30	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		95,917			(6,256	)		(81,195	)		(168,640	)		(1,988	)		(1,123	)
Total increase (decrease) in net assets		90,559			27,774			(157,325	)		(150,092	)		(4,711	)		1,442
NET ASSETS:
Beginning of period		276,668			248,894			937,294			1,087,386			18,790			17,348
End of period	$	367,227		$	276,668		$	779,969		$	937,294		$	14,079		$	18,790
CHANGES IN UNITS OUTSTANDING:
Units issued		9,437			684			177			127
Units redeemed		(3,614	)		(1,062	)		(1,843	)		(3,552	)		(101	)		(62	)
Net increase (decrease)		5,823			(378	)		(1,666	)		(3,425	)		(101	)		(62	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	NVIT MID CAP INDEX FUND						OPPENHEIMER GLOBAL FUND/VA						OPPENHEIMER INTERNATIONAL GROWTH FUND/VA
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	4,587		$	1,633		$	1,517		$	1,121		$	874		$	2,911
Net realized gain (loss) on investments		106,800			76,993			189,663			45,634			6,973			2,163
Change in net unrealized appreciation (depreciation) on investments		(253,973	)		59,156			(344,732	)		280,561			(83,547	)		70,598
Increase (decrease) in net assets resulting from operations		(142,586	)		137,782			(153,552	)		327,316			(75,700	)		75,672
CONTRACT TRANSACTIONS:
Purchase payments received		332			36,060			1,775			12,800			1,775			51,349
Transfers for contract benefits and terminations		(57,366	)		(22,991	)		(117,805	)		(56,629	)		(14,658	)		(7,154	)
Net transfers		113,092			(31,850	)		(5,924	)		21,992			5,413			(10,705	)
Contract charges					(1	)					(31	)
Adjustments to net assets allocated to contracts in payout phase								227			(13,054	)
Increase (decrease) in net assets resulting from contract transactions		56,058			(18,782	)		(121,727	)		(34,922	)		(7,470	)		33,490
Total increase (decrease) in net assets		(86,528	)		119,000			(275,279	)		292,394			(83,170	)		109,162
NET ASSETS:
Beginning of period		1,056,554			937,554			1,237,539			945,145			385,530			276,368
End of period	$	970,026		$	1,056,554		$	962,260		$	1,237,539		$	302,360		$	385,530
CHANGES IN UNITS OUTSTANDING:
Units issued		10,116			9,385			3,893			5,454			1,599			5,501
Units redeemed		(3,262	)		(7,003	)		(7,212	)		(3,632	)		(2,072	)		(2,207	)
Net increase (decrease)		6,854			2,382			(3,319	)		1,822			(473	)		3,294

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	OPPENHEIMER MAIN STREET SMALL CAP FUND/VA						PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO						PIMCO VIT EMERGING MARKETS BOND PORTFOLIO
	2018			2017			2018			2017			2018
														(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(386	)	$	158		$	2,126		$	5,853		$	497
Net realized gain (loss) on investments		10,439			3,443			(2,182	)		(257	)		(3	)
Change in net unrealized appreciation (depreciation) on investments		(22,104	)		5,847			(19,809	)		2,120			(1,065	)
Increase (decrease) in net assets resulting from operations		(12,051	)		9,448			(19,865	)		7,716			(571	)
CONTRACT TRANSACTIONS:
Purchase payments received		16,232			980						60,846			19,141
Transfers for contract benefits and terminations								(4,608	)		(2,695	)
Net transfers		(2,304	)		1,400			2,913			56,300			282
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		13,928			2,380			(1,695	)		114,451			19,423
Total increase (decrease) in net assets		1,877			11,828			(21,560	)		122,167			18,852
NET ASSETS:
Beginning of period		81,408			69,580			132,050			9,883			0
End of period	$	83,285		$	81,408		$	110,490		$	132,050		$	18,852
CHANGES IN UNITS OUTSTANDING:
Units issued		1,050			1,045			4,344			19,934			1,922
Units redeemed		(157	)		(854	)		(4,758	)		(789	)
Net increase (decrease)		893			191			(414	)		19,145			1,922

(1) For the period March 13, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	PIMCO VIT HIGH YIELD PORTFOLIO						PIMCO VIT LOW DURATION PORTFOLIO						PIMCO VIT REAL RETURN PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	39,805		$	35,703		$	35,141		$	18,262		$	2,968		$	1,948
Net realized gain (loss) on investments		(1,172	)		2,968			(20,662	)		(31,153	)		(818	)		(39	)
Change in net unrealized appreciation (depreciation) on investments		(71,383	)		9,971			(26,673	)		31,041			(6,573	)		1,296
Increase (decrease) in net assets resulting from operations		(32,750	)		48,642			(12,194	)		18,150			(4,423	)		3,205
CONTRACT TRANSACTIONS:
Purchase payments received		38,822			19,046			118,125			173,371						19,525
Transfers for contract benefits and terminations		(58,335	)		(31,288	)		(283,508	)		(554,378	)		(838	)		(1,062	)
Net transfers		67,850			57,223			126,383			139,339			2,046			18,380
Contract charges											(28	)
Adjustments to net assets allocated to contracts in payout phase		(7,854	)		972
Increase (decrease) in net assets resulting from contract transactions		40,483			45,953			(39,000	)		(241,696	)		1,208			36,843
Total increase (decrease) in net assets		7,733			94,595			(51,194	)		(223,546	)		(3,215	)		40,048
NET ASSETS:
Beginning of period		911,802			817,207			3,084,648			3,308,194			132,248			92,200
End of period	$	919,535		$	911,802		$	3,033,454		$	3,084,648		$	129,033		$	132,248
CHANGES IN UNITS OUTSTANDING:
Units issued		8,599			7,270			30,975			53,341			3,902			3,758
Units redeemed		(3,970	)		(3,923	)		(33,548	)		(69,696	)		(3,847	)		(131	)
Net increase (decrease)		4,629			3,347			(2,573	)		(16,355	)		55			3,627

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	PIMCO VIT TOTAL RETURN PORTFOLIO						PIONEER EMERGING MARKETS VCT PORTFOLIO			PIONEER FUND VCT PORTFOLIO
	2018			2017			2017			2018			2017
							(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	71,800		$	49,468		$	(32	)	$	481		$	472
Net realized gain (loss) on investments		32,547			(9,908	)		(1,179	)		35,822			16,737
Change in net unrealized appreciation (depreciation) on investments		(156,067	)		125,462			2,237			(39,707	)		10,342
Increase (decrease) in net assets resulting from operations		(51,720	)		165,022			1,026			(3,404	)		27,551
CONTRACT TRANSACTIONS:
Purchase payments received		212,803			50,071						61			60
Transfers for contract benefits and terminations		(185,760	)		(459,553	)								(8,571	)
Net transfers		137,685			492,672			(4,762	)		(782	)		(21,093	)
Contract charges					(19	)
Adjustments to net assets allocated to contracts in payout phase		1,418			(232	)
Increase (decrease) in net assets resulting from contract transactions		166,146			82,939			(4,762	)		(721	)		(29,604	)
Total increase (decrease) in net assets		114,426			247,961			(3,736	)		(4,125	)		(2,053	)
NET ASSETS:
Beginning of period		4,011,785			3,763,824			3,736			149,799			151,852
End of period	$	4,126,211		$	4,011,785		$	0		$	145,674		$	149,799
CHANGES IN UNITS OUTSTANDING:
Units issued		43,235			57,063						17			4
Units redeemed		(21,557	)		(42,066	)		(691	)		(41	)		(1,252	)
Net increase (decrease)		21,678			14,997			(691	)		(24	)		(1,248	)

(1) For the period January 1, 2017 to November 2, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	PIONEER MID CAP VALUE VCT PORTFOLIO						PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO						PRUDENTIAL SERIES FUND EQUITY PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(647	)	$	(355	)	$	(2,018	)	$	(1,541	)	$	(1,782	)	$	(2,252	)
Net realized gain (loss) on investments		13,724			14,236			40,426			4,575			38,929			8,046
Change in net unrealized appreciation (depreciation) on investments		(47,760	)		3,631			(54,399	)		54,183			(39,692	)		56,661
Increase (decrease) in net assets resulting from operations		(34,683	)		17,512			(15,991	)		57,217			(2,545	)		62,455
CONTRACT TRANSACTIONS:
Purchase payments received								6
Transfers for contract benefits and terminations								(4,539	)		(5,574	)		(3,173	)		(13,488	)
Net transfers		7,871			1,658			(32,126	)		61,329			(120,738	)		(28,707	)
Contract charges											(9	)					(10	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		7,871			1,658			(36,659	)		55,746			(123,911	)		(42,205	)
Total increase (decrease) in net assets		(26,812	)		19,170			(52,650	)		112,963			(126,456	)		20,250
NET ASSETS:
Beginning of period		165,295			146,125			268,372			155,409			289,925			269,675
End of period	$	138,483		$	165,295		$	215,722		$	268,372		$	163,469		$	289,925
CHANGES IN UNITS OUTSTANDING:
Units issued		421			404			955			5,477			1			21
Units redeemed					(315	)		(2,248	)		(453	)		(6,561	)		(2,639	)
Net increase (decrease)		421			89			(1,293	)		5,024			(6,560	)		(2,618	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO						PUTNAM VT EQUITY INCOME FUND						PUTNAM VT GLOBAL ASSET ALLOCATION FUND
	2018			2017			2018			2017			2018			2017
																(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(156	)	$	(151	)	$	8		$	8,504		$	1,183		$	(205	)
Net realized gain (loss) on investments		(44	)		(50	)		59,795			80,455			6,433			5
Change in net unrealized appreciation (depreciation) on investments		(3,412	)		(62	)		(127,714	)		48,290			(14,005	)		5,032
Increase (decrease) in net assets resulting from operations		(3,612	)		(263	)		(67,911	)		137,249			(6,389	)		4,832
CONTRACT TRANSACTIONS:
Purchase payments received								58,919			77,222
Transfers for contract benefits and terminations		(1	)					(24,500	)		(47,727	)		(1	)
Net transfers								(137,518	)		(170,606	)					78,900
Contract charges											(4	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(1	)		0			(103,099	)		(141,115	)		(1	)		78,900
Total increase (decrease) in net assets		(3,613	)		(263	)		(171,010	)		(3,866	)		(6,390	)		83,732
NET ASSETS:
Beginning of period		18,899			19,162			795,732			799,598			83,732			0
End of period	$	15,286		$	18,899		$	624,722		$	795,732		$	77,342		$	83,732
CHANGES IN UNITS OUTSTANDING:
Units issued								4,700			6,380						6,867
Units redeemed								(9,185	)		(11,643	)
Net increase (decrease)		0			0			(4,485	)		(5,263	)		0			6,867

(1) For the period August 10, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	PUTNAM VT GLOBAL HEALTH CARE FUND						PUTNAM VT INCOME FUND						PUTNAM VT INTERNATIONAL VALUE FUND
	2018			2017			2018			2017			2018			2017
										(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	531		$	(1,498	)	$	5,160		$	(429	)	$	1,338		$	477
Net realized gain (loss) on investments		67,454			34,140			(76	)		20			63			428
Change in net unrealized appreciation (depreciation) on investments		(77,055	)		36,758			(5,357	)		3,437			(16,158	)		9,119
Increase (decrease) in net assets resulting from operations		(9,070	)		69,400			(273	)		3,028			(14,757	)		10,024
CONTRACT TRANSACTIONS:
Purchase payments received		66,175						5,244			138,860						33,546
Transfers for contract benefits and terminations		(559	)		(1,439	)		(4,754	)		(1,206	)
Net transfers		(76,588	)		(75,775	)		(3,263	)		48,249			5,508			(1,977	)
Contract charges					(14	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(10,972	)		(77,228	)		(2,773	)		185,903			5,508			31,569
Total increase (decrease) in net assets		(20,042	)		(7,828	)		(3,046	)		188,931			(9,249	)		41,593
NET ASSETS:
Beginning of period		511,005			518,833			188,931			0			79,888			38,295
End of period	$	490,963		$	511,005		$	185,885		$	188,931		$	70,639		$	79,888
CHANGES IN UNITS OUTSTANDING:
Units issued		4,749			184			818			18,386			539			3,139
Units redeemed		(4,248	)		(4,640	)		(1,090	)		(118	)					(260	)
Net increase (decrease)		501			(4,456	)		(272	)		18,268			539			2,879

(1) For the period April 20, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	PUTNAM VT MORTGAGE SECURITIES FUND						PUTNAM VT MULTI-CAP CORE FUND						ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	9,966		$	2,333		$	774		$	1,017		$	(530	)	$	(10	)
Net realized gain (loss) on investments		(988	)		(5,367	)		15,095			12,832			(1,894	)		(14,438	)
Change in net unrealized appreciation (depreciation) on investments		(16,986	)		6,488			(20,668	)		10,736			(7,248	)		18,789
Increase (decrease) in net assets resulting from operations		(8,008	)		3,454			(4,799	)		24,585			(9,672	)		4,341
CONTRACT TRANSACTIONS:
Purchase payments received					106,621						12,800
Transfers for contract benefits and terminations		(11,946	)		(4,872	)								(9,664	)		(6,166	)
Net transfers		1,282			32,222			(45,358	)		(40,821	)					(8,393	)
Contract charges					(3	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(10,664	)		133,968			(45,358	)		(28,021	)		(9,664	)		(14,559	)
Total increase (decrease) in net assets		(18,672	)		137,422			(50,157	)		(3,436	)		(19,336	)		(10,218	)
NET ASSETS:
Beginning of period		503,352			365,930			122,708			126,144			118,022			128,240
End of period	$	484,680		$	503,352		$	72,551		$	122,708		$	98,686		$	118,022
CHANGES IN UNITS OUTSTANDING:
Units issued		684			28,685						2,082						515
Units redeemed		(1,716	)		(13,927	)		(3,012	)		(4,247	)		(381	)		(936	)
Net increase (decrease)		(1,032	)		14,758			(3,012	)		(2,165	)		(381	)		(421	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO						SCHWAB MARKETTRACK GROWTH PORTFOLIO II						SCHWAB S&P 500 INDEX PORTFOLIO
	2018			2017			2018			2017			2018			2017
							(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	48,847		$	(18,542	)	$	7,306		$	5,751		$	167,244		$	134,411
Net realized gain (loss) on investments								174,127			50,119			963,617			755,163
Change in net unrealized appreciation (depreciation) on investments								(193,897	)		55,491			(2,278,523	)		2,092,521
Increase (decrease) in net assets resulting from operations		48,847			(18,542	)		(12,464	)		111,361			(1,147,662	)		2,982,095
CONTRACT TRANSACTIONS:
Purchase payments received		2,071,426			2,624,901			45			60			2,547,328			767,977
Transfers for contract benefits and terminations		(1,171,697	)		(715,159	)		(117,812	)		(26,869	)		(485,447	)		(618,157	)
Net transfers		1,820,221			(1,990,883	)		(679,237	)		(332	)		644,580			89,442
Contract charges					(746	)					(10	)					(189	)
Adjustments to net assets allocated to contracts in payout phase		8,747			(18,801	)		(4,244	)		(1,776	)		(7,998	)		15,256
Increase (decrease) in net assets resulting from contract transactions		2,728,697			(100,688	)		(801,248	)		(28,927	)		2,698,463			254,329
Total increase (decrease) in net assets		2,777,544			(119,230	)		(813,712	)		82,434			1,550,801			3,236,424
NET ASSETS:
Beginning of period		5,523,326			5,642,556			813,712			731,278			17,441,612			14,205,188
End of period	$	8,300,870		$	5,523,326		$	0		$	813,712		$	18,992,413		$	17,441,612
CHANGES IN UNITS OUTSTANDING:
Units issued		616,879			340,464			4,601			386			273,434			99,835
Units redeemed		(377,199	)		(344,377	)		(35,505	)		(1,256	)		(62,123	)		(49,924	)
Net increase (decrease)		239,680			(3,913	)		(30,904	)		(870	)		211,311			49,911

(1) For the period January 1, 2018 to November 27, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	SCHWAB VIT BALANCED PORTFOLIO			SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO						SCHWAB VIT GROWTH PORTFOLIO			T. ROWE PRICE HEALTH SCIENCES PORTFOLIO
	2018			2018			2017			2018			2018			2017
	(1)						(2)			(3)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	1,001		$	21,635		$	(420	)	$	1,869		$	(156	)	$	(211	)
Net realized gain (loss) on investments		128			76,614			1,560			649			1,782			2,555
Change in net unrealized appreciation (depreciation) on investments		(6,263	)		(119,527	)		82,168			(20,636	)		(1,651	)		8,033
Increase (decrease) in net assets resulting from operations		(5,134	)		(21,278	)		83,308			(18,118	)		(25	)		10,377
CONTRACT TRANSACTIONS:
Purchase payments received		95,904			280,041			1,632,651			221,325			3,628
Transfers for contract benefits and terminations					(663,740	)
Net transfers					(813,406	)								(239	)		(23,458	)
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		95,904			(1,197,105	)		1,632,651			221,325			3,389			(23,458	)
Total increase (decrease) in net assets		90,770			(1,218,383	)		1,715,959			203,207			3,364			(13,081	)
NET ASSETS:
Beginning of period		0			1,715,959			0			0			26,634			39,715
End of period	$	90,770		$	497,576		$	1,715,959		$	203,207		$	29,998		$	26,634
CHANGES IN UNITS OUTSTANDING:
Units issued		8,568			24,025			146,630			18,296			218			841
Units redeemed					(124,730	)								(13	)		(2,370	)
Net increase (decrease)		8,568			(100,705	)		146,630			18,296			205			(1,529	)

(1) For the period June 7, 2018 to December 31, 2018.

(2) For the period February 14, 2017 to December 31, 2017.

(3) For the period April 10, 2018 to December 31, 2018.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II						TEMPLETON FOREIGN VIP FUND						TEMPLETON GLOBAL BOND VIP FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(106	)	$	(439	)	$	10,780		$	17,357		$	(4,878	)	$	(2,418	)
Net realized gain (loss) on investments		972			10,762			(24,098	)		(6,704	)		(4,296	)		(7,355	)
Change in net unrealized appreciation (depreciation) on investments		(1,465	)		7,432			(64,771	)		113,962			18,452			7,792
Increase (decrease) in net assets resulting from operations		(599	)		17,755			(78,089	)		124,615			9,278			(1,981	)
CONTRACT TRANSACTIONS:
Purchase payments received					12,800									53,451
Transfers for contract benefits and terminations					(14,953	)		(10,510	)		(15,134	)		(16,314	)		(73,375	)
Net transfers		372			(75,535	)		(287,795	)		(166,614	)		26,609			484,280
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		372			(77,688	)		(298,305	)		(181,748	)		63,746			410,905
Total increase (decrease) in net assets		(227	)		(59,933	)		(376,394	)		(57,133	)		73,024			408,924
NET ASSETS:
Beginning of period		14,814			74,747			714,025			771,158			718,161			309,237
End of period	$	14,587		$	14,814		$	337,631		$	714,025		$	791,185		$	718,161
CHANGES IN UNITS OUTSTANDING:
Units issued		312			967			18			7,994			11,378			48,904
Units redeemed		(329	)		(6,003	)		(24,128	)		(22,110	)		(4,882	)		(7,699	)
Net increase (decrease)		(17	)		(5,036	)		(24,110	)		(14,116	)		6,496			41,205

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	THIRD AVENUE VALUE PORTFOLIO						TVST TOUCHSTONE BOND FUND						TVST TOUCHSTONE COMMON STOCK FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	512		$	32		$	15,187		$	(6,859	)	$	1,729		$	(1,457	)
Net realized gain (loss) on investments		3,337			754			(2,679	)		(4,340	)		167,236			1,230
Change in net unrealized appreciation (depreciation) on investments		(14,704	)		6,305			(38,532	)		35,946			(199,268	)		39,788
Increase (decrease) in net assets resulting from operations		(10,855	)		7,091			(26,024	)		24,747			(30,303	)		39,561
CONTRACT TRANSACTIONS:
Purchase payments received														6,445
Transfers for contract benefits and terminations		(6,885	)		(2,101	)		(19,735	)		(44,341	)		(15,781	)
Net transfers		(2,814	)					(7,557	)		194,148			19,355			110,844
Contract charges					(4	)					(9	)					(1	)
Adjustments to net assets allocated to contracts in payout phase		(4,693	)		799
Increase (decrease) in net assets resulting from contract transactions		(14,392	)		(1,306	)		(27,292	)		149,798			10,019			110,843
Total increase (decrease) in net assets		(25,247	)		5,785			(53,316	)		174,545			(20,284	)		150,404
NET ASSETS:
Beginning of period		65,069			59,284			984,692			810,147			305,192			154,788
End of period	$	39,822		$	65,069		$	931,376		$	984,692		$	284,908		$	305,192
CHANGES IN UNITS OUTSTANDING:
Units issued		59			183			849			20,318			2,058			5,230
Units redeemed		(799	)		(183	)		(3,397	)		(9,079	)		(1,820	)		(233	)
Net increase (decrease)		(740	)		0			(2,548	)		11,239			238			4,997

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	TVST TOUCHSTONE FOCUSED FUND						TVST TOUCHSTONE SMALL COMPANY FUND						VAN ECK VIP GLOBAL HARD ASSETS FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(415	)	$	(403	)	$	(1,233	)	$	(576	)	$	(1,239	)	$	(2,352	)
Net realized gain (loss) on investments		8,308			(887	)		22,924			2,372			(45,411	)		(56,064	)
Change in net unrealized appreciation (depreciation) on investments		(46,671	)		25,981			(39,424	)		16,861			(5,955	)		27,210
Increase (decrease) in net assets resulting from operations		(38,778	)		24,691			(17,733	)		18,657			(52,605	)		(31,206	)
CONTRACT TRANSACTIONS:
Purchase payments received		149,066						5,803									4,413
Transfers for contract benefits and terminations		(7,912	)					(10,858	)		(2,276	)		(75,000	)		(9,640	)
Net transfers		(4,250	)		11,530			29,855			71,367			(29,700	)		(196,565	)
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		136,904			11,530			24,800			69,091			(104,700	)		(201,792	)
Total increase (decrease) in net assets		98,126			36,221			7,067			87,748			(157,305	)		(232,998	)
NET ASSETS:
Beginning of period		231,914			195,693			153,203			65,455			213,708			446,706
End of period	$	330,040		$	231,914		$	160,270		$	153,203		$	56,403		$	213,708
CHANGES IN UNITS OUTSTANDING:
Units issued		10,140			3,951			1,513			2,860			1,277			718
Units redeemed		(499	)		(3,611	)		(916	)		(96	)		(14,733	)		(24,810	)
Net increase (decrease)		9,641			340			597			2,764			(13,456	)		(24,092	)

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND						VANGUARD VIF CAPITAL GROWTH PORTFOLIO						VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO
	2018			2017			2018			2017			2018			2017
																(1)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	16,861		$	4,842		$	503		$	(161	)	$	2,827		$	(356	)
Net realized gain (loss) on investments		(6,842	)		(5,570	)		34,484			4,467			7,072			3
Change in net unrealized appreciation (depreciation) on investments		(25,745	)		35,365			(31,960	)		28,193			(20,219	)		11,972
Increase (decrease) in net assets resulting from operations		(15,726	)		34,637			3,027			32,499			(10,320	)		11,619
CONTRACT TRANSACTIONS:
Purchase payments received								60,047			58,428			59,601			16,024
Transfers for contract benefits and terminations		(99	)		(7,993	)		(15,075	)		(13,383	)
Net transfers		(38,577	)		(67,762	)		(119,435	)		82,992			(140,522	)		125,983
Contract charges					(7	)
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		(38,676	)		(75,762	)		(74,463	)		128,037			(80,921	)		142,007
Total increase (decrease) in net assets		(54,402	)		(41,125	)		(71,436	)		160,536			(91,241	)		153,626
NET ASSETS:
Beginning of period		259,855			300,980			208,804			48,268			153,626			0
End of period	$	205,453		$	259,855		$	137,368		$	208,804		$	62,385		$	153,626
CHANGES IN UNITS OUTSTANDING:
Units issued		35			1,236			3,705			10,538			4,523			12,139
Units redeemed		(3,615	)		(7,758	)		(8,097	)		(1,253	)		(11,246	)
Net increase (decrease)		(3,580	)		(6,522	)		(4,392	)		9,285			(6,723	)		12,139

(1) For the period July 24, 2017 to December 31, 2017.

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	VANGUARD VIF MID-CAP INDEX PORTFOLIO						VANGUARD VIF REAL ESTATE INDEX PORTFOLIO						VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	960		$	19		$	2,342		$	948		$	(477	)	$	(245	)
Net realized gain (loss) on investments		14,942			2,785			1,722			2,320			19,305			6,288
Change in net unrealized appreciation (depreciation) on investments		(41,308	)		16,360			(7,305	)		(455	)		(44,888	)		19,302
Increase (decrease) in net assets resulting from operations		(25,406	)		19,164			(3,241	)		2,813			(26,060	)		25,345
CONTRACT TRANSACTIONS:
Purchase payments received		118,750			18,830			47,780			16,973			102,925			30,930
Transfers for contract benefits and terminations		(1,037	)					(2,573	)		(1,438	)		(1,386	)		(381	)
Net transfers		(84,850	)		86,332			(11,417	)		26,203			(25,779	)		14,790
Contract charges
Adjustments to net assets allocated to contracts in payout phase
Increase (decrease) in net assets resulting from contract transactions		32,863			105,162			33,790			41,738			75,760			45,339
Total increase (decrease) in net assets		7,457			124,326			30,549			44,551			49,700			70,684
NET ASSETS:
Beginning of period		181,392			57,066			96,138			51,587			159,498			88,814
End of period	$	188,849		$	181,392		$	126,687		$	96,138		$	209,198		$	159,498
CHANGES IN UNITS OUTSTANDING:
Units issued		8,288			8,316			4,436			3,428			6,650			3,876
Units redeemed		(6,318	)		(84	)		(1,448	)		(117	)		(2,086	)		(433	)
Net increase (decrease)		1,970			8,232			2,988			3,311			4,564			3,443

The accompanying notes are an integral part of these financial statements. (Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

STATEMENT OF CHANGES IN NET ASSETS

YEARS ENDED DECEMBER 31, 2018 AND 2017

	INVESTMENT DIVISIONS
	WELLS FARGO VT DISCOVERY FUND						WELLS FARGO VT OMEGA GROWTH FUND						WELLS FARGO VT OPPORTUNITY FUND
	2018			2017			2018			2017			2018			2017
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income (loss)	$	(289	)	$	(244	)	$	(769	)	$	(405	)	$	(981	)	$	(77	)
Net realized gain (loss) on investments		4,333			1,557			12,210			1,112			14,319			14,224
Change in net unrealized appreciation (depreciation) on investments		(6,573	)		6,018			(11,510	)		13,752			(24,021	)		12,333
Increase (decrease) in net assets resulting from operations		(2,529	)		7,331			(69	)		14,459			(10,683	)		26,480
CONTRACT TRANSACTIONS:
Purchase payments received								4,851			12,800
Transfers for contract benefits and terminations								(4,851	)					(9,890	)		(6,837	)
Net transfers		(1,845	)		1,751			(5,646	)		37,332			(20,284	)		60,212
Contract charges																	(4	)
Adjustments to net assets allocated to contracts in payout phase														(9,438	)		1,821
Increase (decrease) in net assets resulting from contract transactions		(1,845	)		1,751			(5,646	)		50,132			(39,612	)		55,192
Total increase (decrease) in net assets		(4,374	)		9,082			(5,715	)		64,591			(50,295	)		81,672
NET ASSETS:
Beginning of period		35,120			26,038			93,118			28,527			180,018			98,346
End of period	$	30,746		$	35,120		$	87,403		$	93,118		$	129,723		$	180,018
CHANGES IN UNITS OUTSTANDING:
Units issued					124			685			3,824			465			3,792
Units redeemed		(124	)					(1,053	)					(1,694	)		(908	)
Net increase (decrease)		(124	)		124			(368	)		3,824			(1,229	)		2,884

The accompanying notes are an integral part of these financial statements. (Concluded ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

NOTES TO FINANCIAL STATEMENTS

YEAR ENDED DECEMBER 31, 2018

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

The Variable Annuity-1 Series Account (the Series Account), a separate account of Great-West Life & Annuity Insurance Company of New York (the Company), is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and exists in accordance with regulations of the New York State Department of Financial Services. It is a funding vehicle for individual variable annuity contracts. The Series Account consists of numerous investment divisions (Investment Divisions), each being treated as an individual accounting entity for financial reporting purposes, and each investing all of its investible assets in the named underlying mutual fund.

Under applicable insurance law, the assets and liabilities of each of the Investment Divisions of the Series Account are clearly identified and distinguished from the Company’s other assets and liabilities. The portion of the Series Account’s assets applicable to the reserves and other contract liabilities with respect to the Series Account is not chargeable with liabilities arising out of any other business the Company may conduct.

The preparation of financial statements and financial highlights of each of the Investment Divisions in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and financial highlights and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Series Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 “Financial Services – Investment Companies”. The following is a summary of the significant accounting policies of the Series Account.

Security Valuation

Mutual fund investments held by the Investment Divisions are valued at the reported net asset values of such underlying mutual funds, which value their investment securities at fair value.

The Series Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Series Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. Classification is based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows:

Level 1 – Unadjusted quoted prices for identical securities in active markets.

Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.

As of December 31, 2018, the only investments of each of the Investment Divisions of the Series Account were in underlying mutual funds that are actively traded, therefore 100% of the investments are valued using Level 1 inputs.

Fund of Funds Structure Risk

Since the Series Account invests directly in underlying funds, all risks associated with the eligible underlying funds apply to the Series Account. To the extent the Series Account invests more of its assets in one underlying fund than another, the Series Account will have greater exposure to the risks of the underlying fund.

Security Transactions and Investment Income

Transactions are recorded on the trade date. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date and the amounts distributed to the Investment Division for its share of dividends are reinvested in additional full and fractional shares of the related mutual funds.

Contracts in the Payout Phase

Net assets of each Investment Division allocated to contracts in the payout phase are computed according to the 2000 Individual Annuitant Mortality Table. The assumed investment return is 4.5 percent. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the Series Account by the Company to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to the Company. Any adjustments to these amounts are reflected in Adjustments to net assets allocated to contracts in payout phase on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Federal Income Taxes

The operations of each of the Investment Divisions of the Series Account are included in the federal income tax return of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code (IRC). The Company is included in the consolidated federal tax return of Great-West Lifeco U.S. Inc. Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of each of the Investment Divisions of the Series Account to the extent the earnings are credited under the contracts. Based on this, no charge is being made currently to the Series Account for federal income taxes. The Company will periodically review the status of the federal income tax 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.

Purchase Payments Received

Purchase payments received from contract owners by the Company are credited as accumulation units, and are reported as Contract Transactions on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Net Transfers

Net transfers include transfers between Investment Divisions of the Series Account as well as transfers between other investment options of the Company, not included in the Series Account.

Application of Recent Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board issued ASU No. 2018-13, “Fair-Value Measurement: Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement” (ASU No. 2018-13). ASU No. 2018-13 modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The disclosure changes in ASU 2018-13 are effective for the first interim or annual period beginning after December 15, 2019. Early adoption is permitted for any

eliminated or modified disclosures. Eliminated and modified disclosures have been adopted, and there was no impact to the financial statements.

2. PURCHASES AND SALES OF INVESTMENTS

The cost of purchases and proceeds from sales of investments for the year ended December 31, 2018 were as follows:

Investment Division	Purchases		Sales
AB VPS Growth and Income Portfolio	$	50,617	$	4,843
AB VPS Growth Portfolio		73,955		8,938
AB VPS International Growth Portfolio		65,505		11,761
AB VPS International Value Portfolio		1,537		1,626
AB VPS Real Estate Investment Portfolio		36,717		50,015
AB VPS Small/Mid Cap Value Portfolio		107,049		65,287
Alger Capital Appreciation Portfolio		17,656		20,020
Alger Large Cap Growth Portfolio		823,909		636,792
Alger Mid Cap Growth Portfolio		210,228		243,370
Alps Red Rocks Listed Private Equity Portfolio		785		86
American Century Investments VP Balanced Fund		329,460		133,256
American Century Investments VP Income & Growth Fund		530,486		69,640
American Century Investments VP International Fund		56,188		21,509
American Century Investments VP Mid Cap Value Fund		62,570		74,932
American Century Investments VP Value Fund		494,848		156,214
American Funds IS Global Growth Fund		78,359		9,445
American Funds IS International Fund		23,509		19,918
American Funds IS New World Fund		58,145		10,096
BlackRock Global Allocation VI Fund		227,601		5,505
Clearbridge Variable Mid Cap Portfolio		737		208
Clearbridge Variable Small Cap Growth Portfolio		45,349		2,437
Columbia Variable Portfolio - Large Cap Growth Fund		700,681		55,610
Columbia Variable Portfolio - Seligman Global Technology Fund		136,582		56,888
Columbia Variable Portfolio - Small Cap Value Fund		185,293		159,358
Delaware VIP Emerging Markets Series		224,070		50,619
Delaware VIP Small Cap Value Series		58,419		151,430
Delaware VIP Smid Cap Core Series		150,608		18,962
Delaware VIP Value Series		24,203		23,139
Dimensional VA US Targeted Value Portfolio		45,912		4,080
Dreyfus IP Midcap Stock Portfolio		436,847		53,506
Dreyfus VIF Appreciation Portfolio		102,538		97,069
Dreyfus VIF Growth and Income Portfolio		19,703		21,303
DWS Capital Growth VIP		132,064		60,244
DWS Core Equity VIP		109,769		32,071
DWS CROCI® U.S. VIP		27,320		34,833
DWS Global Small Cap VIP		17,851		2,694
DWS Small Cap Index VIP		295,187		191,291
DWS Small Mid Cap Growth VIP		4,658		94
DWS Small Mid Cap Value VIP		29,951		12,218
Federated Fund For US Government Securities II		173,915		89,109
Federated Managed Tail Risk Fund II		2,688		81,635

Investment Division	Purchases		Sales
Federated Managed Volatility Fund II	$	71,439	$	465
Franklin Small Cap Value VIP Fund		317,079		108,386
Great-West Aggressive Profile Fund		161,823		2,979
Great-West Bond Index Fund		35,620		57
Great-West Conservative Profile Fund		782,128		21,209
Great-West Mid Cap Value Fund		3,833		2,138
Great-West Moderate Profile Fund		99,010		240
Great-West Moderately Conservative Profile Fund		215,150		616
Great-West Multi-Sector Bond Fund		861,962		65,094
Great-West SecureFoundation® Balanced Fund		1,825,768		1,526,852
Great-West T. Rowe Price Mid Cap Growth Fund		220,188		2,879
Invesco V.I. Comstock Fund		169,505		122,005
Invesco V.I. Core Equity Fund		7,628		35,065
Invesco V.I. Growth & Income Fund		476,874		164,665
Invesco V.I. High Yield Fund		24,691		3,336
Invesco V.I. International Growth Fund		35,612		67,489
Invesco V.I. Mid Cap Core Equity Fund		12,380		9,224
Invesco V.I. Small Cap Equity Fund		69,941		1,577
Invesco V.I. Technology Fund		13,835		31,544
Ivy VIP International Core Equity		66,141		589
Janus Henderson VIT Balanced Portfolio Institutional Shares		26,552		32,963
Janus Henderson VIT Balanced Portfolio Service Shares		336,691		139,509
Janus Henderson VIT Flexible Bond Portfolio Institutional Shares		1,295,459		154,620
Janus Henderson VIT Flexible Bond Portfolio Service Shares		102,871		228,433
Janus Henderson VIT Global Research Portfolio		68,079		11,861
Janus Henderson VIT Global Technology Portfolio Institutional Shares		87,081		796
Janus Henderson VIT Global Technology Portfolio Service Shares		60,697		15,487
Janus Henderson VIT Overseas Portfolio Institutional Shares		1,281		19,214
Janus Henderson VIT Overseas Portfolio Service Shares		53,185		80,662
Janus Henderson VIT Research Portfolio		15,124		4,989
JPMorgan Insurance Trust Small Cap Core Portfolio		2,251		1,961
Lazard Retirement Emerging Markets Equity Portfolio		183,463		126,480
LVIP Baron Growth Opportunities Fund		67,424		328,762
MFS VIT II International Value Portfolio		227,660		530,905
MFS VIT III Mid Cap Value Portfolio		221,144		15,399
MFS VIT Utilities Series		157,109		58,419
Morgan Stanley VIF U.S. Real Estate Portfolio		30,840		96,643
Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio		725		2,137
NVIT Mid Cap Index Fund		289,473		123,794
Oppenheimer Global Fund/VA		232,646		274,343
Oppenheimer International Growth Fund/VA		26,305		25,740
Oppenheimer Main Street Small Cap Fund/VA		27,024		2,943
Pimco VIT Commodity RealReturn Strategy Portfolio		29,616		29,182
Pimco VIT Emerging Markets Bond Portfolio		19,986		65
Pimco VIT High Yield Portfolio		182,587		94,405
Pimco VIT Low Duration Portfolio		391,221		394,956
Pimco VIT Real Return Portfolio		42,705		38,524
Pimco VIT Total Return Portfolio		626,030		339,732
Pioneer Fund VCT Portfolio		39,111		2,441
Pioneer Mid Cap Value VCT Portfolio		21,952		1,374

Investment Division	Purchases		Sales
Pioneer Select Mid Cap Growth VCT Portfolio	$	56,398	$	62,498
Prudential Series Fund Equity Portfolio		25		125,718
Prudential Series Fund Natural Resources Portfolio		-		156
Putnam VT Equity Income Fund		103,149		175,418
Putnam VT Global Asset Allocation Fund		8,171		543
Putnam VT Global Health Care Fund		145,785		81,106
Putnam VT Income Fund		14,255		11,864
Putnam VT International Value Fund		7,231		383
Putnam VT Mortgage Securities Fund		20,049		20,730
Putnam VT Multi-Cap Core Fund		10,872		45,940
Royce Capital Fund - Small-Cap Portfolio		1,742		10,533
Schwab Government Money Market Portfolio		5,870,667		3,101,373
Schwab Markettrack Growth Portfolio II		451,466		812,581
Schwab S&P 500 Index Portfolio		4,641,091		1,749,914
Schwab VIT Balanced Portfolio		97,303		257
Schwab VIT Balanced With Growth Portfolio		311,540		1,484,435
Schwab VIT Growth Portfolio		224,803		937
T. Rowe Price Health Sciences Portfolio		5,370		394
T. Rowe Price Health Sciences Portfolio Class II		6,465		5,090
Templeton Foreign VIP Fund		14,963		302,499
Templeton Global Bond VIP Fund		112,424		53,525
Third Avenue Value Portfolio		947		10,134
TVST Touchstone Bond Fund		33,073		45,140
TVST Touchstone Common Stock Fund		249,474		60,477
TVST Touchstone Focused Fund		159,283		15,215
TVST Touchstone Small Company Fund		77,820		31,189
Van Eck VIP Global Hard Assets Fund		8,257		114,202
Van Eck VIP Unconstrained Emerging Markets Bond Fund		19,132		40,941
Vanguard VIF Capital Growth Portfolio		69,625		137,846
Vanguard VIF Diversified Value Portfolio		70,859		141,510
Vanguard VIF Mid-Cap Index Portfolio		130,937		87,615
Vanguard VIF REIT Index Portfolio		58,619		18,769
Vanguard VIF Small Company Growth Portfolio		126,456		32,484
Wells Fargo VT Discovery Fund		4,224		2,133
Wells Fargo VT Omega Growth Fund		21,357		17,332
Wells Fargo VT Opportunity Fund		24,390		41,435

3. EXPENSES AND RELATED PARTY TRANSACTIONS

Contract Maintenance Charges

The Company deducts from each participant account in the Schwab Select Annuity contract a $25 annual maintenance charge on accounts under $50,000 as of each contract’s anniversary date. This charge is recorded as Contract maintenance charges on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Transfer Fees

The Company charges $10 in the Schwab Select Annuity contract for each transfer between Investment Divisions in excess of 12 transfers in any calendar year. This charge is recorded as Transfers for contract benefits and terminations on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Deductions for Premium Taxes

The Company may deduct from each contribution any applicable state premium tax or retaliatory tax, which currently ranges from 0% to 3.5%. This charge is netted with Purchase payments received on the Statement of Changes in Net Assets of the applicable Investment Divisions.

Deductions for Assumption of Mortality and Expense Risks

The Company assumes mortality and expense risks related to the operations of the Series Account. It deducts a daily charge from the unit value of each Investment Division of the Schwab Select annuity contract, equal to an annual rate of 0.85%; a daily charge from the unit value of each Investment Division of the Schwab OneSource annuity contract, equal to an annual rate of 0.65% to 0.85%, depending on the death benefit option chosen; a daily charge from the unit value of each Investment Division of Schwab Advisor Choice annuity contract, equal to an annual rate of 0.49% to 0.69%, depending on the death benefit option chosen; and a daily charge from the unit value of each Investment Division of Schwab OneSource Choice annuity contract, equal to an annual rate of 0.65% to 0.85%, depending on the death benefit option chosen. The level of these charges is guaranteed and will not change. The charges are recorded as Mortality and expense risk in the Statement of Operations of the applicable Investment Divisions.

Optional GLWB Rider Benefit Fee

The Company deducts a quarterly charge equal to a maximum annual rate of 1.50% from the covered fund value in Schwab Advisor Choice and Schwab OneSource Choice annuity contracts for the guaranteed lifetime withdrawal benefit rider if this option is chosen. Currently, this charge is 0.95% for Schwab Advisor Choice annuity contracts signed before May 1, 2017, and 0.90% for Schwab Advisor Choice annuity contracts signed on or after May 1, 2017; and 1.00% for Schwab OneSource Choice annuity contracts signed before May 1, 2017, and 0.90% for Schwab OneSource Choice annuity contracts signed on or after May 1, 2017. This charge is recorded as Contract charges on the Statement of Changes in Net Assets of the applicable Investment Division, if applicable.

If the above charges prove insufficient to cover actual costs and assumed risks, the loss will be borne by the Company; conversely, if the amounts deducted prove more than sufficient, the excess will be a profit to the Company.

Related Party Transactions

Great-West Funds, Inc., funds of which are underlying certain Investment Divisions, is a registered investment company affiliated with the Company. Great-West Capital Management, LLC (GWCM), a wholly owned subsidiary of the Company, serves as investment adviser to Great-West Funds, Inc. Fees are assessed against the average daily net assets of the portfolios of Great-West Funds, Inc. to compensate GWCM for investment advisory services.

4. FINANCIAL HIGHLIGHTS

For each Investment Division, the accumulation units outstanding, net assets, investment income ratio, the range of lowest to highest expense ratio (excluding expenses of the underlying funds), total return and accumulation unit fair values for each year or period ended December 31 are included on the following pages. As the unit fair value for the Investment Divisions of the Series Account are presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some unit values shown on the Statement of Assets and Liabilities which are calculated on an aggregated basis, may not be within the ranges presented.

The Expense Ratios represent the annualized contract expenses of the respective Investment Divisions of the Series Account, consisting 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 have been excluded.

The Total Return amounts represent the total return for the periods indicated, including changes in the value of the underlying fund, and expenses assessed through the reduction of unit values. These returns do not include any expenses assessed through the redemption of units. Investment Divisions with a date notation indicate the effective date that the investment option was available in the Series Account. The total returns are calculated for each 12-month period indicated or from the effective date through the end of the reporting period and are not annualized for periods less than one year. When a new Investment Division is added to the Series Account, the calculation of the total return begins on the day it is added even though it may not have had operations for all or some of the same period. Unit values and returns for bands or Investment Divisions that had no operations activity during the reporting period are not shown. As the total returns for the Investment Divisions are presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are not within the ranges presented.

The Investment Income Ratio represents the dividends, excluding distributions of capital gains, received by the Investment Division from the underlying mutual fund divided by average net assets during the period. It is not annualized for periods less than one year. The ratio excludes those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the Investment Division is affected by the timing of the declaration of dividends by the underlying fund in which the Investment Division invests.

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
AB VPS GROWTH AND INCOME PORTFOLIO
2018		9	$	20.14	to	$	13.24	$	144		0.97	%		0.49	%	to	0.85	%		(6.41	)%	to	(6.07	)%
2017		7	$	21.52	to	$	14.02	$	126		1.61	%		0.65	%	to	0.85	%		17.92	%	to	18.16	%
2016		3	$	18.25	to	$	18.25	$	60		0.73	%		0.85	%	to	0.85	%		10.36	%	to	10.36	%
2015		38	$	16.54	to	$	10.73	$	426		0.89	%		0.65	%	to	0.85	%		0.84	%	to	1.05	%
2014		3	$	16.40	to	$	16.40	$	54		1.37	%		0.85	%	to	0.85	%		8.61	%	to	8.61	%
AB VPS GROWTH PORTFOLIO
2018		8	$	24.09	to	$	16.76	$	166		0.00	%		0.49	%	to	0.85	%		3.13	%	to	3.51	%
2017		5	$	15.99	to	$	23.53	$	121		0.00	%		0.65	%	to	0.85	%		33.38	%	to	33.65	%
2016		6	$	17.31	to	$	17.60	$	110		0.00	%		0.65	%	to	0.85	%		0.27	%	to	0.47	%
2015		5	$	17.47	to	$	17.26	$	81		0.00	%		0.85	%	to	0.85	%		8.13	%	to	8.15	%
2014		5	$	16.16	to	$	15.96	$	75		0.00	%		0.85	%	to	0.85	%		12.38	%	to	11.06	%
AB VPS INTERNATIONAL GROWTH PORTFOLIO
2018		21	$	14.68	to	$	8.61	$	295		0.70	%		0.65	%	to	0.85	%		(18.11	)%	to	(17.95	)%
2017		18	$	17.93	to	$	10.49	$	312		0.87	%		0.65	%	to	0.85	%		33.89	%	to	34.16	%
2016		14	$	13.39	to	$	7.82	$	197		0.00	%		0.65	%	to	0.85	%		(7.66	)%	to	(7.49	)%
2015		23	$	14.50	to	$	8.45	$	327		0.34	%		0.65	%	to	0.85	%		(2.70	)%	to	(2.50	)%
2014		22	$	14.91	to	$	8.67	$	330		0.00	%		0.65	%	to	0.85	%		(1.97	)%	to	(1.81	)%
AB VPS INTERNATIONAL VALUE PORTFOLIO
2018		11	$	7.50	to	$	6.67	$	82		1.52	%		0.65	%	to	0.85	%		(23.45	)%	to	(23.29	)%
2017		11	$	9.80	to	$	8.69	$	108		2.26	%		0.65	%	to	0.85	%		24.37	%	to	24.61	%
2016		11	$	7.88	to	$	6.98	$	87		1.03	%		0.65	%	to	0.85	%		(1.34	)%	to	(1.15	)%
2015		19	$	7.98	to	$	7.06	$	138		2.49	%		0.65	%	to	0.85	%		1.72	%	to	1.94	%
2014		19	$	7.85	to	$	6.92	$	137		3.61	%		0.65	%	to	0.85	%		(6.99	)%	to	(6.86	)%
AB VPS REAL ESTATE INVESTMENT PORTFOLIO
(Effective date 05/01/2008)
2018		14	$	16.80	to	$	12.09	$	209		2.02	%		0.49	%	to	0.85	%		(4.95	)%	to	(4.61	)%
2017		16	$	17.68	to	$	12.68	$	245		2.06	%		0.49	%	to	0.85	%		5.64	%	to	6.02	%
2016		23	$	16.73	to	$	11.96	$	368		1.55	%		0.49	%	to	0.85	%		6.85	%	to	7.24	%
2015		27	$	15.66	to	$	11.15	$	404		1.46	%		0.49	%	to	0.85	%		(0.04	)%	to	0.31	%
2014		24	$	15.67	to	$	15.88	$	375		2.66	%		0.65	%	to	0.85	%		24.27	%	to	24.55	%
AB VPS SMALL/MID CAP VALUE PORTFOLIO
2018		18	$	20.93	to	$	11.58	$	306		0.52	%		0.65	%	to	0.85	%		(15.76	)%	to	(15.58	)%
2017		16	$	24.85	to	$	13.79	$	351		0.47	%		0.49	%	to	0.85	%		12.20	%	to	12.60	%
2016		21	$	22.15	to	$	12.25	$	397		0.60	%		0.49	%	to	0.85	%		24.03	%	to	24.48	%
2015		17	$	17.86	to	$	9.84	$	280		0.75	%		0.49	%	to	0.85	%		(6.28	)%	to	(5.94	)%
2014		14	$	19.05	to	$	17.83	$	270		0.67	%		0.65	%	to	0.85	%		8.24	%	to	8.45	%
ALGER CAPITAL APPRECIATION PORTFOLIO
(Effective date 05/01/2015)
2018		4	$	12.99	to	$	12.99	$	49		0.07	%		0.49	%	to	0.49	%		(0.59	)%	to	(0.59	)%
2017		5	$	12.94	to	$	13.06	$	59		0.23	%		0.49	%	to	0.85	%		29.96	%	to	30.44	%
2016		1	$	10.02	to	$	10.02	$	12		0.20	%		0.49	%	to	0.49	%		0.02	%	to	0.02	%
ALGER LARGE CAP GROWTH PORTFOLIO
2018		38	$	37.45	to	$	19.78	$	1,324		0.00	%		0.65	%	to	0.85	%		1.34	%	to	1.55	%
2017		40	$	36.96	to	$	19.48	$	1,381		0.00	%		0.65	%	to	0.85	%		27.38	%	to	27.63	%
2016		47	$	29.01	to	$	10.69	$	1,169		0.00	%		0.49	%	to	0.85	%		(1.66	)%	to	(1.31	)%
2015		50	$	29.50	to	$	10.83	$	1,256		0.00	%		0.49	%	to	0.85	%		0.85	%	to	1.22	%
2014		48	$	29.25	to	$	15.33	$	1,252		0.17	%		0.65	%	to	0.85	%		10.05	%	to	10.29	%

(Continued)

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31										For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)			Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
ALGER MID CAP GROWTH PORTFOLIO
2018		14		$	26.15	to	$	12.39	$	274		0.00	%		0.49	%	to	0.85	%		(8.24	)%	to	(7.91	)%
2017		16		$	28.50	to	$	13.46	$	368		0.00	%		0.49	%	to	0.85	%		28.70	%	to	29.16	%
2016		16		$	22.15	to	$	12.79	$	295		0.00	%		0.65	%	to	0.85	%		0.12	%	to	0.32	%
2015		16		$	22.12	to	$	12.75	$	295		0.00	%		0.65	%	to	0.85	%		(2.40	)%	to	(2.20	)%
2014		16		$	22.66	to	$	13.04	$	306		0.00	%		0.65	%	to	0.85	%		7.09	%	to	7.33	%
ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO
(Effective date 04/29/2016)
2018		1		$	11.50	to	$	11.50	$	11		5.74	%		0.65	%	to	0.65	%		(12.79	)%	to	(12.79	)%
2017		1		$	13.19	to	$	13.19	$	13		2.95	%		0.65	%	to	0.65	%		24.68	%	to	24.68	%
AMERICAN CENTURY INVESTMENTS VP BALANCED FUND
2018		67		$	22.02	to	$	11.74	$	973		1.10	%		0.49	%	to	0.85	%		(4.65	)%	to	(4.30	)%
2017		48		$	23.10	to	$	12.20	$	832		1.44	%		0.65	%	to	0.85	%		12.95	%	to	13.18	%
2016		34		$	20.45	to	$	15.56	$	646		1.60	%		0.65	%	to	0.85	%		6.09	%	to	6.30	%
2015		39		$	19.28	to	$	14.63	$	678		1.73	%		0.65	%	to	0.85	%		(3.40	)%	to	(3.20	)%
2014		40		$	19.95	to	$	15.12	$	736		1.55	%		0.65	%	to	0.85	%		8.90	%	to	9.17	%
AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH FUND
(Effective date 05/01/2008)
2018		37		$	12.40	to	$	12.61	$	475		2.24	%		0.49	%	to	0.85	%		(7.66	)%	to	(7.33	)%
2017		5		$	13.43	to	$	13.60	$	89		2.27	%		0.49	%	to	0.85	%		19.46	%	to	19.90	%
2016		4		$	16.82	to	$	11.30	$	61		2.33	%		0.65	%	to	0.65	%		12.75	%	to	12.75	%
2015		5		$	14.92	to	$	10.02	$	65		2.10	%		0.65	%	to	0.65	%		(6.24	)%	to	(6.24	)%
2014		5		$	15.91	to	$	10.69	$	71		1.84	%		0.65	%	to	0.65	%		11.81	%	to	6.90	%
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND
2018		12		$	20.76	to	$	9.63	$	183		1.30	%		0.65	%	to	0.85	%		(15.95	)%	to	(15.77	)%
2017		10		$	24.70	to	$	11.44	$	199		0.81	%		0.65	%	to	0.85	%		30.10	%	to	30.36	%
2016		8		$	18.99	to	$	8.84	$	136		1.43	%		0.65	%	to	0.85	%		(6.29	)%	to	(6.11	)%
2015		18		$	20.26	to	$	9.35	$	239		0.25	%		0.65	%	to	0.85	%		(0.10	)%	to	0.11	%
2014		9		$	20.28	to	$	9.41	$	159		1.63	%		0.65	%	to	0.85	%		(6.33	)%	to	(5.90	)%
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND
(Effective date 05/01/2009)
2018		12		$	29.43	to	$	12.56	$	257		1.27	%		0.49	%	to	0.85	%		(13.70	)%	to	(13.39	)%
2017		14		$	34.10	to	$	14.51	$	338		1.44	%		0.49	%	to	0.85	%		10.53	%	to	10.92	%
2016		9		$	30.85	to	$	13.08	$	248		1.57	%		0.49	%	to	0.85	%		21.68	%	to	22.12	%
2015		9		$	25.36	to	$	10.68	$	205		1.51	%		0.65	%	to	0.85	%		(2.41	)%	to	(2.22	)%
2014		11		$	25.98	to	$	10.92	$	252		0.93	%		0.65	%	to	0.85	%		15.26	%	to	9.20	%
AMERICAN CENTURY INVESTMENTS VP VALUE FUND
2018		96		$	26.41	to	$	11.99	$	1,844		1.70	%		0.49	%	to	0.85	%		(9.92	)%	to	(9.59	)%
2017		69		$	29.32	to	$	13.26	$	1,732		1.67	%		0.49	%	to	0.85	%		7.83	%	to	8.21	%
2016		79		$	27.19	to	$	12.25	$	1,851		1.72	%		0.49	%	to	0.85	%		19.46	%	to	19.90	%
2015		77		$	22.76	to	$	10.20	$	1,540		2.11	%		0.65	%	to	0.85	%		(4.70	)%	to	(4.51	)%
2014		82		$	23.88	to	$	16.57	$	1,768		1.56	%		0.65	%	to	0.85	%		12.11	%	to	12.34	%
AMERICAN FUNDS IS GLOBAL GROWTH FUND
(Effective date 05/29/2014)
2018		9		$	13.00	to	$	13.00	$	115		0.97	%		0.49	%	to	0.49	%		(9.26	)%	to	(9.26	)%
2017		5		$	14.32	to	$	14.32	$	71		1.13	%		0.49	%	to	0.49	%		31.16	%	to	31.16	%
AMERICAN FUNDS IS NEW WORLD FUND
(Effective date 04/29/2016)
2018		7		$	11.42	to	$	11.42	$	83		0.97	%		0.49	%	to	0.49	%		(14.46	)%	to	(14.46	)%
2017		4		$	13.28	to	$	13.36	$	53		1.39	%		0.49	%	to	0.85	%		28.34	%	to	28.82	%
2016		0	*	$	10.37	to	$	10.37	$	3		0.70	%		0.49	%	to	0.49	%		3.68	%	to	3.68	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31										For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)			Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
BLACKROCK GLOBAL ALLOCATION VI FUND
(Effective date 05/01/2014)
2018		41		$	10.53	to	$	10.63	$	436		1.17	%		0.49	%	to	0.69	%		(7.98	)%	to	(7.80	)%
2017		23		$	11.45	to	$	11.61	$	270		1.25	%		0.65	%	to	0.69	%		13.07	%	to	13.12	%
2016		21		$	10.12	to	$	10.26	$	217		1.35	%		0.65	%	to	0.69	%		3.40	%	to	3.45	%
2015		12		$	9.89	to	$	9.80	$	121		1.05	%		0.65	%	to	0.85	%		(1.55	)%	to	(1.35	)%
2014		10		$	10.04	to	$	10.06	$	100		2.18	%		0.65	%	to	0.85	%		0.40	%	to	0.60	%
CLEARBRIDGE VARIABLE MID CAP PORTFOLIO
(Effective date 04/29/2016)
2018		3		$	10.78	to	$	10.78	$	28		0.50	%		0.65	%	to	0.65	%		(13.09	)%	to	(13.09	)%
2017		3		$	12.40	to	$	12.40	$	32		0.44	%		0.65	%	to	0.65	%		12.07	%	to	12.07	%
CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO
(Effective date 05/01/2015)
2018		8		$	12.78	to	$	12.78	$	99		0.00	%		0.65	%	to	0.65	%		2.77	%	to	2.77	%
2017		6		$	12.44	to	$	12.44	$	70		0.00	%		0.65	%	to	0.65	%		23.46	%	to	23.46	%
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND
(Effective date 04/29/2016)
2018		57		$	12.64	to	$	12.76	$	732		0.00	%		0.49	%	to	0.85	%		(4.95	)%	to	(4.60	)%
2017		14		$	13.30	to	$	13.34	$	184		0.00	%		0.65	%	to	0.85	%		26.76	%	to	27.01	%
2016		14		$	10.49	to	$	10.50	$	144		0.00	%		0.65	%	to	0.85	%		4.90	%	to	5.04	%
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND
(Effective date 03/11/2011)
2018		31		$	23.66	to	$	18.29	$	729		0.00	%		0.49	%	to	0.85	%		(9.23	)%	to	(8.90	)%
2017		32		$	26.07	to	$	20.08	$	813		0.00	%		0.49	%	to	0.85	%		33.78	%	to	34.26	%
2016		22		$	19.48	to	$	19.71	$	425		0.00	%		0.65	%	to	0.85	%		18.01	%	to	18.24	%
2015		22		$	16.51	to	$	16.67	$	366		0.00	%		0.65	%	to	0.85	%		8.89	%	to	9.10	%
2014		23		$	15.16	to	$	15.28	$	347		0.00	%		0.65	%	to	0.85	%		24.06	%	to	24.33	%
COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND
(Effective date 05/01/2009)
2018		4		$	24.76	to	$	25.24	$	98		0.15	%		0.65	%	to	0.85	%		(18.86	)%	to	(18.70	)%
2017		4		$	30.51	to	$	31.04	$	121		0.15	%		0.65	%	to	0.85	%		13.02	%	to	13.25	%
2016		1		$	27.41	to	$	12.45	$	19		0.23	%		0.49	%	to	0.65	%		31.88	%	to	32.08	%
2015		2		$	20.51	to	$	20.78	$	33		0.72	%		0.65	%	to	0.85	%		(7.11	)%	to	(6.92	)%
2014		1		$	22.08	to	$	22.33	$	11		0.44	%		0.65	%	to	0.85	%		2.17	%	to	2.38	%
DELAWARE VIP EMERGING MARKETS SERIES
(Effective date 05/01/2014)
2018		26		$	10.39	to	$	10.08	$	268		2.67	%		0.49	%	to	0.85	%		(16.52	)%	to	(16.22	)%
2017		11		$	12.45	to	$	12.04	$	137		0.10	%		0.49	%	to	0.85	%		39.36	%	to	39.87	%
2016		1		$	8.56	to	$	8.61	$	8		0.30	%		0.49	%	to	0.69	%		13.15	%	to	13.37	%
2015		1		$	7.57	to	$	7.59	$	10		0.33	%		0.49	%	to	0.69	%		(15.10	)%	to	(14.92	)%
2014		0	*	$	9.34	to	$	9.34	$	3		0.00	%		0.65	%	to	0.65	%		(6.60	)%	to	(6.60	)%
DELAWARE VIP SMALL CAP VALUE SERIES
2018		19		$	33.73	to	$	11.58	$	460		0.84	%		0.49	%	to	0.85	%		(17.43	)%	to	(17.13	)%
2017		23		$	40.84	to	$	13.98	$	691		0.81	%		0.49	%	to	0.85	%		11.11	%	to	11.50	%
2016		17		$	36.76	to	$	12.54	$	471		0.96	%		0.49	%	to	0.85	%		30.30	%	to	30.77	%
2015		19		$	28.21	to	$	9.59	$	410		0.72	%		0.49	%	to	0.85	%		(7.02	)%	to	(6.68	)%
2014		18		$	30.34	to	$	10.26	$	464		0.61	%		0.65	%	to	0.85	%		4.95	%	to	2.60	%
DELAWARE VIP SMID CAP CORE SERIES
(Effective date 05/01/2006)
2018		13		$	24.97	to	$	13.25	$	233		0.17	%		0.49	%	to	0.85	%		(12.87	)%	to	(12.55	)%
2017		9		$	28.66	to	$	15.15	$	206		0.29	%		0.49	%	to	0.85	%		17.64	%	to	18.06	%
2016		7		$	24.36	to	$	12.78	$	161		0.18	%		0.65	%	to	0.85	%		7.38	%	to	7.60	%
2015		10		$	22.69	to	$	11.87	$	203		0.35	%		0.65	%	to	0.85	%		6.63	%	to	6.85	%
2014		9		$	20.94	to	$	21.22	$	189		0.08	%		0.65	%	to	0.85	%		2.30	%	to	2.51	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
DIMENSIONAL VA US TARGETED VALUE PORTFOLIO
(Effective date 05/29/2014)
2018		8	$	11.09	to	$	11.09	$	90		1.05	%		0.49	%	to	0.49	%		(16.28	)%	to	(16.28	)%
2017		5	$	13.25	to	$	13.25	$	71		1.39	%		0.49	%	to	0.49	%		9.23	%	to	9.23	%
2016		3	$	12.13	to	$	12.13	$	42		1.14	%		0.49	%	to	0.49	%		26.88	%	to	26.88	%
2015		1	$	9.56	to	$	9.56	$	6		1.33	%		0.49	%	to	0.49	%		(5.69	)%	to	(5.69	)%
DREYFUS IP MIDCAP STOCK PORTFOLIO
2018		32	$	28.20	to	$	11.61	$	404		0.22	%		0.49	%	to	0.85	%		(16.21	)%	to	(15.90	)%
2017		4	$	33.66	to	$	13.80	$	102		0.93	%		0.49	%	to	0.85	%		14.41	%	to	14.81	%
2016		3	$	29.42	to	$	11.97	$	78		1.04	%		0.65	%	to	0.85	%		14.49	%	to	14.74	%
2015		3	$	25.70	to	$	10.44	$	68		0.60	%		0.65	%	to	0.85	%		(3.11	)%	to	(2.93	)%
2014		3	$	26.52	to	$	26.52	$	67		0.98	%		0.85	%	to	0.85	%		11.10	%	to	11.10	%
DREYFUS VIF APPRECIATION PORTFOLIO
2018		19	$	21.23	to	$	18.92	$	396		1.24	%		0.65	%	to	0.85	%		(7.65	)%	to	(7.47	)%
2017		21	$	22.99	to	$	20.45	$	490		1.34	%		0.65	%	to	0.85	%		26.26	%	to	26.51	%
2016		28	$	18.21	to	$	16.16	$	513		1.62	%		0.65	%	to	0.85	%		6.99	%	to	7.20	%
2015		34	$	17.02	to	$	15.08	$	566		1.71	%		0.65	%	to	0.85	%		(3.30	)%	to	(3.10	)%
2014		32	$	17.60	to	$	15.56	$	560		1.84	%		0.65	%	to	0.85	%		7.19	%	to	7.38	%
DREYFUS VIF GROWTH AND INCOME PORTFOLIO
2018		12	$	21.60	to	$	13.58	$	184		0.79	%		0.65	%	to	0.85	%		(5.50	)%	to	(5.31	)%
2017		13	$	22.85	to	$	14.34	$	214		0.75	%		0.65	%	to	0.85	%		18.70	%	to	18.94	%
2016		13	$	19.25	to	$	12.06	$	182		1.00	%		0.65	%	to	0.85	%		9.10	%	to	9.32	%
2015		6	$	17.65	to	$	10.73	$	89		0.19	%		0.85	%	to	0.85	%		0.72	%	to	0.72	%
2014		4	$	17.52	to	$	17.52	$	68		0.79	%		0.85	%	to	0.85	%		9.16	%	to	9.16	%
DWS CAPITAL GROWTH VIP
2018		41	$	23.79	to	$	15.12	$	933		0.70	%		0.65	%	to	0.85	%		(2.44	)%	to	(2.24	)%
2017		42	$	24.38	to	$	15.47	$	977		0.73	%		0.65	%	to	0.85	%		25.23	%	to	25.48	%
2016		41	$	19.47	to	$	18.07	$	783		1.00	%		0.65	%	to	0.85	%		3.37	%	to	3.58	%
2015		46	$	18.83	to	$	17.45	$	828		0.64	%		0.65	%	to	0.85	%		7.70	%	to	7.91	%
2014		45	$	17.49	to	$	16.17	$	760		0.67	%		0.65	%	to	0.85	%		12.04	%	to	12.29	%
DWS CORE EQUITY VIP
2018		13	$	21.12	to	$	14.12	$	223		1.63	%		0.49	%	to	0.85	%		(6.49	)%	to	(6.15	)%
2017		11	$	22.59	to	$	15.04	$	213		1.08	%		0.49	%	to	0.85	%		20.00	%	to	20.43	%
2016		7	$	18.04	to	$	19.15	$	122		1.49	%		0.65	%	to	0.85	%		9.55	%	to	9.77	%
2015		8	$	17.18	to	$	17.45	$	150		0.85	%		0.65	%	to	0.85	%		4.36	%	to	4.57	%
2014		8	$	15.78	to	$	16.68	$	152		0.99	%		0.65	%	to	0.85	%		10.89	%	to	11.05	%
DWS CROCI® U.S. VIP
2018		13	$	16.84	to	$	12.98	$	224		2.50	%		0.65	%	to	0.85	%		(11.26	)%	to	(11.07	)%
2017		15	$	18.97	to	$	14.59	$	284		1.50	%		0.65	%	to	0.85	%		21.84	%	to	22.10	%
2016		16	$	15.57	to	$	11.95	$	251		1.07	%		0.65	%	to	0.85	%		(5.19	)%	to	(5.00	)%
2015		20	$	16.43	to	$	12.58	$	326		1.29	%		0.65	%	to	0.85	%		(7.66	)%	to	(7.47	)%
2014		27	$	17.79	to	$	13.60	$	454		1.34	%		0.65	%	to	0.85	%		9.81	%	to	10.03	%
DWS GLOBAL SMALL CAP VIP
(Effective date 05/01/2014)
2018		12	$	9.05	to	$	9.19	$	107		0.28	%		0.49	%	to	0.85	%		(21.19	)%	to	(20.90	)%
2017		12	$	11.48	to	$	11.62	$	138		0.00	%		0.49	%	to	0.85	%		19.01	%	to	19.44	%
DWS SMALL CAP INDEX VIP
2018		58	$	31.89	to	$	12.19	$	1,111		0.95	%		0.49	%	to	0.85	%		(11.99	)%	to	(11.67	)%
2017		54	$	36.23	to	$	13.80	$	1,246		0.89	%		0.49	%	to	0.85	%		13.37	%	to	13.78	%
2016		42	$	31.96	to	$	19.47	$	989		1.12	%		0.65	%	to	0.85	%		20.01	%	to	20.24	%
2015		46	$	26.63	to	$	16.19	$	941		1.05	%		0.65	%	to	0.85	%		(5.41	)%	to	(5.22	)%
2014		44	$	28.15	to	$	17.08	$	941		0.73	%		0.65	%	to	0.85	%		3.84	%	to	4.08	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
DWS SMALL MID CAP GROWTH VIP
(Effective date 04/29/2014)
2018		1	$	11.95	to	$	11.95	$	12		0.00	%		0.65	%	to	0.65	%		(14.15	)%	to	(14.15	)%
2017		1	$	13.92	to	$	13.92	$	14		0.00	%		0.65	%	to	0.65	%		21.34	%	to	21.34	%
DWS SMALL MID CAP VALUE VIP
(Effective date 05/01/2006)
2018		7	$	17.01	to	$	16.83	$	126		1.38	%		0.65	%	to	0.85	%		(16.73	)%	to	(16.57	)%
2017		8	$	20.42	to	$	20.17	$	162		0.72	%		0.65	%	to	0.85	%		9.59	%	to	9.81	%
2016		8	$	18.64	to	$	18.37	$	146		0.56	%		0.65	%	to	0.85	%		15.90	%	to	16.13	%
2015		15	$	16.08	to	$	15.82	$	241		0.28	%		0.65	%	to	0.85	%		(2.74	)%	to	(2.54	)%
2014		16	$	16.53	to	$	16.23	$	268		0.80	%		0.65	%	to	0.85	%		4.62	%	to	4.84	%
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II
2018		92	$	19.90	to	$	10.39	$	1,482		2.37	%		0.49	%	to	0.85	%		(0.40	)%	to	(0.04	)%
2017		85	$	19.98	to	$	10.40	$	1,423		2.39	%		0.49	%	to	0.85	%		1.07	%	to	1.43	%
2016		92	$	19.77	to	$	12.21	$	1,566		2.30	%		0.65	%	to	0.85	%		0.74	%	to	0.95	%
2015		74	$	19.62	to	$	12.10	$	1,319		3.07	%		0.65	%	to	0.85	%		(0.33	)%	to	(0.13	)%
2014		174	$	19.69	to	$	12.11	$	3,212		1.96	%		0.65	%	to	0.85	%		3.74	%	to	3.95	%
FEDERATED MANAGED VOLATILITY FUND II
2018		4	$	21.94	to	$	21.94	$	92		1.55	%		0.85	%	to	0.85	%		(9.27	)%	to	(9.27	)%
2017		1	$	24.18	to	$	24.18	$	31		3.84	%		0.85	%	to	0.85	%		17.11	%	to	17.11	%
2016		1	$	20.65	to	$	20.65	$	26		4.76	%		0.85	%	to	0.85	%		6.78	%	to	6.78	%
2015		1	$	19.33	to	$	19.33	$	25		4.27	%		0.85	%	to	0.85	%		(8.34	)%	to	(8.34	)%
2014		1	$	21.10	to	$	21.10	$	27		2.87	%		0.85	%	to	0.85	%		3.08	%	to	3.08	%
FRANKLIN SMALL CAP VALUE VIP FUND
2018		36	$	18.08	to	$	11.35	$	540		0.77	%		0.49	%	to	0.85	%		(13.62	)%	to	(13.31	)%
2017		24	$	20.93	to	$	13.10	$	482		0.54	%		0.49	%	to	0.85	%		9.71	%	to	10.11	%
2016		29	$	19.08	to	$	11.89	$	513		0.83	%		0.49	%	to	0.85	%		29.09	%	to	29.55	%
2015		27	$	14.78	to	$	9.18	$	380		0.60	%		0.49	%	to	0.85	%		(8.17	)%	to	(7.84	)%
2014		21	$	16.04	to	$	16.25	$	334		0.57	%		0.65	%	to	0.85	%		(0.25	)%	to	(0.06	)%
GREAT-WEST AGGRESSIVE PROFILE FUND
(Effective date 04/30/2018)
2018		14	$	8.98	to	$	8.98	$	122		2.60	%		0.65	%	to	0.65	%		(10.17	)%	to	(10.17	)%
GREAT-WEST BOND INDEX FUND
(Effective date 04/30/2018)
2018		4	$	10.16	to	$	10.17	$	36		0.66	%		0.49	%	to	0.65	%		1.63	%	to	1.75	%
GREAT-WEST CONSERVATIVE PROFILE FUND
(Effective date 04/30/2018)
2018		72	$	9.70	to	$	9.70	$	696		2.91	%		0.60	%	to	0.60	%		(2.98	)%	to	(2.98	)%
GREAT-WEST MID CAP VALUE FUND
(Effective date 04/29/2016)
2018		3	$	11.59	to	$	11.64	$	32		4.49	%		0.49	%	to	0.65	%		(12.88	)%	to	(12.74	)%
2017		3	$	13.30	to	$	13.33	$	37		9.12	%		0.49	%	to	0.65	%		16.23	%	to	16.41	%
GREAT-WEST MODERATE PROFILE FUND
(Effective date 04/30/2018)
2018		9	$	9.39	to	$	9.39	$	85		2.19	%		0.65	%	to	0.65	%		(6.06	)%	to	(6.06	)%
GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND
(Effective date 04/30/2018)
2018		20	$	9.54	to	$	9.54	$	191		1.95	%		0.65	%	to	0.65	%		(4.61	)%	to	(4.61	)%
GREAT-WEST MULTI-SECTOR BOND FUND
(Effective date 04/29/2016)
2018		82	$	10.61	to	$	10.61	$	871		3.08	%		0.49	%	to	0.49	%		(3.58	)%	to	(3.58	)%
2017		10	$	11.00	to	$	11.00	$	115		2.25	%		0.49	%	to	0.49	%		5.76	%	to	5.76	%
2016		1	$	10.40	to	$	10.40	$	11		0.59	%		0.49	%	to	0.49	%		4.01	%	to	4.01	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
GREAT-WEST SECUREFOUNDATION® BALANCED FUND
(Effective date 05/29/2014)
2018		1,259	$	11.41	to	$	11.52	$	14,496		1.99	%		0.65	%	to	0.85	%		(6.13	)%	to	(5.94	)%
2017		1,301	$	12.16	to	$	12.25	$	15,931		2.05	%		0.65	%	to	0.85	%		11.99	%	to	12.21	%
2016		1,001	$	10.86	to	$	10.91	$	10,921		2.04	%		0.65	%	to	0.85	%		7.80	%	to	8.02	%
2015		700	$	10.07	to	$	10.10	$	7,066		2.27	%		0.65	%	to	0.85	%		(1.50	)%	to	(1.31	)%
2014		200	$	10.23	to	$	10.24	$	2,049		1.61	%		0.65	%	to	0.85	%		2.30	%	to	2.40	%
GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND
(Effective date 04/28/2017)
2018		17	$	10.93	to	$	10.96	$	186		0.09	%		0.49	%	to	0.65	%		(2.97	)%	to	(2.80	)%
INVESCO V.I. COMSTOCK FUND
2018		22	$	20.66	to	$	11.67	$	361		1.65	%		0.65	%	to	0.85	%		(12.91	)%	to	(12.73	)%
2017		20	$	23.73	to	$	13.45	$	416		1.79	%		0.49	%	to	0.85	%		16.85	%	to	17.28	%
2016		28	$	20.30	to	$	11.47	$	499		1.55	%		0.49	%	to	0.85	%		16.31	%	to	16.73	%
2015		34	$	17.46	to	$	9.82	$	525		2.00	%		0.49	%	to	0.85	%		(6.78	)%	to	(6.45	)%
2014		32	$	18.73	to	$	16.58	$	577		1.38	%		0.65	%	to	0.85	%		8.52	%	to	8.72	%
INVESCO V.I. CORE EQUITY FUND
2018		3	$	27.62	to	$	27.62	$	92		0.80	%		0.85	%	to	0.85	%		(10.16	)%	to	(10.16	)%
2017		4	$	30.74	to	$	30.74	$	137		1.04	%		0.85	%	to	0.85	%		12.22	%	to	12.22	%
2016		5	$	27.39	to	$	27.39	$	129		0.77	%		0.85	%	to	0.85	%		9.33	%	to	9.33	%
2015		5	$	25.06	to	$	25.06	$	118		1.14	%		0.85	%	to	0.85	%		(6.57	)%	to	(6.57	)%
2014		5	$	26.82	to	$	26.82	$	127		0.86	%		0.85	%	to	0.85	%		7.24	%	to	7.24	%
INVESCO V.I. GROWTH & INCOME FUND
2018		83	$	21.38	to	$	11.94	$	1,325		2.16	%		0.49	%	to	0.85	%		(14.12	)%	to	(13.81	)%
2017		70	$	24.90	to	$	13.85	$	1,401		1.66	%		0.49	%	to	0.85	%		13.35	%	to	13.76	%
2016		68	$	21.97	to	$	12.18	$	1,159		1.14	%		0.49	%	to	0.85	%		18.68	%	to	19.12	%
2015		63	$	18.51	to	$	10.22	$	934		3.07	%		0.49	%	to	0.85	%		(3.88	)%	to	(3.54	)%
2014		44	$	19.25	to	$	15.65	$	753		1.63	%		0.65	%	to	0.85	%		9.31	%	to	9.59	%
INVESCO V.I. HIGH YIELD FUND
2018		13	$	22.39	to	$	10.58	$	169		5.31	%		0.49	%	to	0.85	%		(4.18	)%	to	(3.83	)%
2017		12	$	23.37	to	$	11.00	$	162		3.80	%		0.49	%	to	0.85	%		5.40	%	to	5.79	%
2016		9	$	22.17	to	$	10.40	$	122		4.23	%		0.49	%	to	0.85	%		10.28	%	to	10.67	%
2015		9	$	20.11	to	$	9.40	$	122		2.59	%		0.49	%	to	0.85	%		(3.99	)%	to	(3.64	)%
2014		10	$	20.94	to	$	9.74	$	143		2.72	%		0.69	%	to	0.85	%		0.87	%	to	(2.60	)%
INVESCO V.I. INTERNATIONAL GROWTH FUND
2018		31	$	9.40	to	$	11.71	$	405		2.07	%		0.65	%	to	0.85	%		(15.73	)%	to	(15.53	)%
2017		35	$	16.23	to	$	11.30	$	522		1.44	%		0.49	%	to	0.85	%		21.96	%	to	22.40	%
2016		45	$	13.31	to	$	9.23	$	538		1.52	%		0.49	%	to	0.85	%		(1.29	)%	to	(0.93	)%
2015		56	$	13.49	to	$	9.32	$	697		1.38	%		0.49	%	to	0.85	%		(3.17	)%	to	(2.82	)%
2014		51	$	13.93	to	$	11.82	$	674		1.61	%		0.65	%	to	0.85	%		(0.50	)%	to	(0.25	)%
INVESCO V.I. MID CAP CORE EQUITY FUND
(Effective date 05/01/2009)
2018		4	$	20.45	to	$	20.85	$	75		0.52	%		0.65	%	to	0.85	%		(12.10	)%	to	(11.92	)%
2017		4	$	23.27	to	$	23.67	$	93		0.63	%		0.65	%	to	0.85	%		13.95	%	to	14.17	%
2016		4	$	20.42	to	$	10.74	$	68		0.08	%		0.65	%	to	0.85	%		12.48	%	to	12.71	%
2015		4	$	18.16	to	$	9.53	$	67		0.35	%		0.65	%	to	0.85	%		(4.84	)%	to	(4.65	)%
2014		4	$	19.08	to	$	9.99	$	70		0.04	%		0.65	%	to	0.85	%		3.58	%	to	(0.10	)%
INVESCO V.I. SMALL CAP EQUITY FUND
(Effective date 05/01/2009)
2018		8	$	23.70	to	$	10.60	$	106		0.00	%		0.49	%	to	0.85	%		(15.81	)%	to	(15.53	)%
2017		3	$	28.15	to	$	12.55	$	69		0.00	%		0.49	%	to	0.85	%		13.10	%	to	13.51	%
2016		2	$	24.89	to	$	11.05	$	39		0.00	%		0.49	%	to	0.85	%		11.12	%	to	11.51	%
2015		1	$	22.39	to	$	22.39	$	33		0.00	%		0.85	%	to	0.85	%		(6.33	)%	to	(6.33	)%
2014		3	$	23.90	to	$	23.90	$	66		0.00	%		0.85	%	to	0.85	%		1.44	%	to	1.44	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31										For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)			Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
INVESCO V.I. TECHNOLOGY FUND
2018		46		$	5.67	to	$	15.35	$	274		0.00	%		0.85	%	to	0.85	%		(1.31	)%	to	(1.30	)%
2017		50		$	15.55	to	$	5.74	$	303		0.00	%		0.85	%	to	0.85	%		33.99	%	to	33.99	%
2016		52		$	11.61	to	$	4.29	$	229		0.00	%		0.85	%	to	0.85	%		(1.59	)%	to	(1.58	)%
2015		52		$	11.79	to	$	4.36	$	234		0.00	%		0.85	%	to	0.85	%		5.91	%	to	5.91	%
2014		54		$	4.11	to	$	11.15	$	223		0.00	%		0.65	%	to	0.85	%		9.89	%	to	11.50	%
IVY VIP INTERNATIONAL CORE EQUITY
(Effective date 05/01/2015)
2018		10		$	9.02	to	$	9.08	$	91		0.66	%		0.49	%	to	0.65	%		(18.35	)%	to	(18.22	)%
2017		4		$	11.10	to	$	11.10	$	44		0.75	%		0.49	%	to	0.49	%		22.56	%	to	22.56	%
2016		1		$	9.06	to	$	9.06	$	9		0.87	%		0.49	%	to	0.49	%		0.59	%	to	0.59	%
2015		0	*	$	9.00	to	$	9.00	$	4		0.00	%		0.49	%	to	0.49	%		(9.96	)%	to	(9.96	)%
JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES
2018		18		$	28.54	to	$	28.54	$	506		2.17	%		0.85	%	to	0.85	%		(0.18	)%	to	(0.18	)%
2017		19		$	28.59	to	$	28.59	$	534		1.62	%		0.85	%	to	0.85	%		17.43	%	to	17.43	%
2016		19		$	24.35	to	$	24.35	$	455		2.24	%		0.85	%	to	0.85	%		3.72	%	to	3.72	%
2015		19		$	23.47	to	$	23.47	$	439		1.87	%		0.85	%	to	0.85	%		(0.23	)%	to	(0.23	)%
2014		21		$	23.53	to	$	23.53	$	499		1.76	%		0.85	%	to	0.85	%		7.59	%	to	7.59	%
JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES
(Effective date 05/01/2007)
2018		141		$	20.03	to	$	12.57	$	2,316		1.79	%		0.65	%	to	0.85	%		(0.42	)%	to	(0.22	)%
2017		131		$	20.12	to	$	12.60	$	2,213		1.39	%		0.65	%	to	0.85	%		17.14	%	to	17.37	%
2016		126		$	17.17	to	$	10.73	$	1,857		1.94	%		0.65	%	to	0.85	%		3.45	%	to	3.65	%
2015		126		$	16.60	to	$	10.36	$	1,974		1.61	%		0.65	%	to	0.85	%		(0.44	)%	to	(0.24	)%
2014		137		$	16.67	to	$	16.11	$	2,238		1.54	%		0.65	%	to	0.85	%		7.27	%	to	7.54	%
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES
2018		157		$	22.31	to	$	10.39	$	1,823		3.60	%		0.49	%	to	0.85	%		(1.84	)%	to	(1.49	)%
2017		48		$	22.73	to	$	10.55	$	722		2.94	%		0.49	%	to	0.85	%		2.74	%	to	3.12	%
2016		51		$	22.12	to	$	10.23	$	757		3.17	%		0.49	%	to	0.85	%		1.60	%	to	1.96	%
2015		27		$	21.78	to	$	10.04	$	509		2.34	%		0.49	%	to	0.85	%		(0.63	)%	to	(0.27	)%
2014		21		$	21.91	to	$	10.05	$	449		3.35	%		0.69	%	to	0.85	%		4.04	%	to	0.50	%
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES
(Effective date 05/01/2007)
2018		134		$	15.27	to	$	10.20	$	1,979		2.67	%		0.65	%	to	0.85	%		(2.13	)%	to	(1.92	)%
2017		145		$	15.60	to	$	10.40	$	2,189		2.45	%		0.65	%	to	0.85	%		2.48	%	to	2.69	%
2016		164		$	15.22	to	$	10.13	$	2,421		2.30	%		0.65	%	to	0.85	%		1.36	%	to	1.56	%
2015		195		$	15.02	to	$	9.97	$	2,852		1.87	%		0.65	%	to	0.85	%		(0.91	)%	to	(0.71	)%
2014		231		$	15.15	to	$	10.04	$	3,472		3.09	%		0.65	%	to	0.85	%		3.77	%	to	0.40	%
JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO
2018		27		$	24.60	to	$	11.94	$	501		1.12	%		0.49	%	to	0.85	%		(7.66	)%	to	(7.33	)%
2017		23		$	26.64	to	$	12.81	$	489		0.78	%		0.65	%	to	0.85	%		25.95	%	to	26.21	%
2016		25		$	21.15	to	$	10.19	$	431		1.08	%		0.49	%	to	0.85	%		1.21	%	to	1.58	%
2015		26		$	20.90	to	$	10.03	$	449		0.66	%		0.49	%	to	0.85	%		(3.12	)%	to	(2.76	)%
2014		19		$	21.57	to	$	21.57	$	434		1.05	%		0.85	%	to	0.85	%		6.52	%	to	6.52	%
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES
(Effective date 05/29/2014)
2018		9		$	18.41	to	$	18.58	$	160		0.96	%		0.49	%	to	0.69	%		0.49	%	to	0.69	%
2017		5		$	18.32	to	$	18.45	$	87		0.00	%		0.49	%	to	0.69	%		44.10	%	to	44.38	%
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES
(Effective date 05/01/2014)
2018		14		$	18.71	to	$	18.25	$	254		1.01	%		0.65	%	to	0.85	%		0.05	%	to	0.25	%
2017		12		$	18.70	to	$	18.20	$	223		0.00	%		0.65	%	to	0.85	%		43.69	%	to	43.98	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
JANUS HENDERSON VIT OVERSEAS PORTFOLIO INSTITUTIONAL SHARES
2018		3	$	22.26	to	$	22.26	$	57		1.72	%		0.85	%	to	0.85	%		(15.67	)%	to	(15.67	)%
2017		3	$	26.40	to	$	26.40	$	86		1.65	%		0.85	%	to	0.85	%		30.01	%	to	30.01	%
2016		4	$	20.30	to	$	20.30	$	89		4.99	%		0.85	%	to	0.85	%		(7.24	)%	to	(7.24	)%
2015		4	$	21.89	to	$	21.89	$	121		0.55	%		0.85	%	to	0.85	%		(9.37	)%	to	(9.37	)%
2014		5	$	24.15	to	$	24.15	$	156		6.13	%		0.85	%	to	0.85	%		(12.63	)%	to	(12.63	)%
JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES
(Effective date 05/01/2007)
2018		25	$	8.42	to	$	8.42	$	212		1.82	%		0.85	%	to	0.85	%		(15.86	)%	to	(15.86	)%
2017		28	$	10.01	to	$	10.01	$	284		1.57	%		0.85	%	to	0.85	%		29.69	%	to	29.69	%
2016		32	$	7.72	to	$	7.72	$	244		4.70	%		0.85	%	to	0.85	%		(7.49	)%	to	(7.49	)%
2015		45	$	8.34	to	$	8.34	$	377		0.55	%		0.85	%	to	0.85	%		(9.57	)%	to	(9.57	)%
2014		29	$	9.22	to	$	9.22	$	265		5.83	%		0.85	%	to	0.85	%		(12.85	)%	to	(12.85	)%
JANUS HENDERSON VIT RESEARCH PORTFOLIO
2018		8	$	32.74	to	$	32.74	$	259		0.55	%		0.85	%	to	0.85	%		(3.40	)%	to	(3.40	)%
2017		8	$	33.90	to	$	33.90	$	271		0.39	%		0.85	%	to	0.85	%		26.80	%	to	26.80	%
2016		10	$	26.73	to	$	26.73	$	267		0.54	%		0.85	%	to	0.85	%		(0.35	)%	to	(0.35	)%
2015		11	$	26.83	to	$	26.83	$	282		0.64	%		0.85	%	to	0.85	%		4.45	%	to	4.45	%
2014		11	$	25.68	to	$	25.68	$	284		0.37	%		0.85	%	to	0.85	%		12.04	%	to	12.04	%
JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO
(Effective date 05/29/2014)
2018		2	$	12.12	to	$	12.32	$	27		0.38	%		0.49	%	to	0.85	%		(12.68	)%	to	(12.36	)%
2017		2	$	13.88	to	$	14.06	$	33		0.33	%		0.49	%	to	0.85	%		14.26	%	to	14.66	%
2016		2	$	12.15	to	$	12.26	$	30		0.31	%		0.49	%	to	0.85	%		19.20	%	to	19.63	%
2015		5	$	10.19	to	$	10.25	$	46		0.06	%		0.49	%	to	0.85	%		(6.08	)%	to	(5.75	)%
LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO
(Effective date 05/01/2009)
2018		78	$	15.77	to	$	8.80	$	1,041		1.92	%		0.49	%	to	0.85	%		(19.25	)%	to	(18.96	)%
2017		74	$	19.53	to	$	10.85	$	1,243		1.96	%		0.49	%	to	0.85	%		26.75	%	to	27.20	%
2016		56	$	15.41	to	$	8.53	$	800		1.03	%		0.49	%	to	0.85	%		19.76	%	to	20.20	%
2015		59	$	12.86	to	$	7.10	$	714		1.21	%		0.49	%	to	0.85	%		(20.73	)%	to	(20.45	)%
2014		52	$	16.23	to	$	16.41	$	825		1.77	%		0.65	%	to	0.85	%		(5.42	)%	to	(5.25	)%
LVIP BARON GROWTH OPPORTUNITIES FUND
2018		30	$	43.50	to	$	12.91	$	1,163		0.00	%		0.49	%	to	0.85	%		(4.75	)%	to	(4.40	)%
2017		37	$	45.67	to	$	13.50	$	1,505		0.00	%		0.49	%	to	0.85	%		26.16	%	to	26.62	%
2016		42	$	36.20	to	$	10.66	$	1,401		0.54	%		0.49	%	to	0.85	%		4.68	%	to	5.05	%
2015		41	$	34.58	to	$	17.82	$	1,308		0.00	%		0.65	%	to	0.85	%		(5.58	)%	to	(5.39	)%
2014		43	$	36.62	to	$	18.84	$	1,464		0.14	%		0.65	%	to	0.85	%		3.98	%	to	4.20	%
MFS VIT II INTERNATIONAL VALUE PORTFOLIO
(Effective date 05/01/2009)
2018		82	$	24.54	to	$	11.95	$	1,590		0.88	%		0.49	%	to	0.85	%		(10.49	)%	to	(10.17	)%
2017		91	$	27.41	to	$	13.30	$	2,110		1.23	%		0.49	%	to	0.85	%		25.75	%	to	26.20	%
2016		58	$	21.80	to	$	10.54	$	1,201		1.13	%		0.49	%	to	0.85	%		2.96	%	to	3.33	%
2015		49	$	21.17	to	$	10.20	$	964		2.17	%		0.49	%	to	0.85	%		5.42	%	to	5.80	%
2014		39	$	20.08	to	$	9.63	$	800		1.83	%		0.65	%	to	0.85	%		0.25	%	to	(3.70	)%
MFS VIT III MID CAP VALUE PORTFOLIO
(Effective date 04/28/2017)
2018		20	$	9.62	to	$	9.65	$	191		1.19	%		0.49	%	to	0.65	%		(12.03	)%	to	(11.88	)%
2017		2	$	10.94	to	$	10.95	$	23		0.11	%		0.49	%	to	0.65	%		9.35	%	to	9.47	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
MFS VIT UTILITIES SERIES
(Effective date 05/01/2008)
2018		23	$	10.61	to	$	15.94	$	367		1.12	%		0.65	%	to	0.85	%		(0.05	)%	to	0.15	%
2017		18	$	15.61	to	$	15.92	$	277		4.12	%		0.65	%	to	0.85	%		13.52	%	to	13.76	%
2016		18	$	13.75	to	$	13.99	$	249		3.59	%		0.65	%	to	0.85	%		10.30	%	to	10.52	%
2015		21	$	12.47	to	$	12.66	$	266		3.60	%		0.65	%	to	0.85	%		(15.47	)%	to	(15.32	)%
2014		25	$	14.75	to	$	14.95	$	377		2.00	%		0.65	%	to	0.85	%		11.49	%	to	11.73	%
MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO
2018		17	$	46.60	to	$	46.60	$	780		2.67	%		0.85	%	to	0.85	%		(8.50	)%	to	(8.50	)%
2017		18	$	50.93	to	$	50.93	$	937		1.54	%		0.85	%	to	0.85	%		2.24	%	to	2.24	%
2016		22	$	49.82	to	$	49.82	$	1,087		1.29	%		0.85	%	to	0.85	%		5.91	%	to	5.91	%
2015		24	$	47.04	to	$	47.04	$	1,157		1.32	%		0.85	%	to	0.85	%		1.31	%	to	1.31	%
2014		23	$	46.43	to	$	46.43	$	1,086		1.35	%		0.85	%	to	0.85	%		28.61	%	to	28.61	%
NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO
2018		1	$	16.49	to	$	16.49	$	14		0.23	%		0.85	%	to	0.85	%		(16.20	)%	to	(16.20	)%
2017		1	$	19.68	to	$	19.68	$	19		0.49	%		0.85	%	to	0.85	%		15.36	%	to	15.36	%
2016		1	$	17.06	to	$	17.06	$	17		0.25	%		0.85	%	to	0.85	%		15.01	%	to	15.01	%
2015		1	$	14.84	to	$	14.84	$	15		0.35	%		0.85	%	to	0.85	%		(9.29	)%	to	(9.29	)%
2014		1	$	16.35	to	$	16.35	$	19		0.71	%		0.85	%	to	0.85	%		12.53	%	to	12.53	%
NVIT MID CAP INDEX FUND
2018		49	$	33.63	to	$	12.34	$	970		1.17	%		0.49	%	to	0.85	%		(12.32	)%	to	(12.00	)%
2017		42	$	38.36	to	$	14.03	$	1,057		0.92	%		0.49	%	to	0.85	%		14.60	%	to	15.01	%
2016		40	$	33.47	to	$	12.20	$	938		1.10	%		0.49	%	to	0.85	%		19.00	%	to	19.43	%
2015		37	$	28.13	to	$	10.19	$	793		0.89	%		0.65	%	to	0.85	%		(3.60	)%	to	(3.39	)%
2014		34	$	29.18	to	$	17.39	$	751		1.02	%		0.65	%	to	0.85	%		8.27	%	to	8.48	%
OPPENHEIMER GLOBAL FUND/VA
2018		38	$	32.30	to	$	11.97	$	962		0.96	%		0.49	%	to	0.85	%		(13.92	)%	to	(13.61	)%
2017		41	$	37.52	to	$	13.78	$	1,238		0.93	%		0.65	%	to	0.85	%		35.51	%	to	35.78	%
2016		40	$	27.69	to	$	10.15	$	945		1.07	%		0.65	%	to	0.85	%		(0.76	)%	to	(0.57	)%
2015		43	$	27.90	to	$	10.20	$	1,018		1.32	%		0.65	%	to	0.85	%		3.06	%	to	3.27	%
2014		44	$	27.07	to	$	9.88	$	1,020		1.04	%		0.65	%	to	0.85	%		1.42	%	to	(1.20	)%
OPPENHEIMER INTERNATIONAL GROWTH FUND/VA
(Effective date 05/01/2008)
2018		28	$	11.88	to	$	9.10	$	302		0.87	%		0.49	%	to	0.85	%		(20.10	)%	to	(19.81	)%
2017		28	$	14.87	to	$	11.35	$	386		1.48	%		0.49	%	to	0.85	%		25.22	%	to	25.67	%
2016		25	$	11.87	to	$	9.03	$	276		1.16	%		0.49	%	to	0.85	%		(2.94	)%	to	(2.60	)%
2015		29	$	12.23	to	$	9.27	$	336		1.15	%		0.49	%	to	0.85	%		2.56	%	to	2.93	%
2014		23	$	11.93	to	$	12.09	$	271		1.57	%		0.65	%	to	0.85	%		(7.95	)%	to	(7.78	)%
OPPENHEIMER MAIN STREET SMALL CAP FUND/VA
(Effective date 05/01/2014)
2018		7	$	12.15	to	$	12.19	$	83		0.29	%		0.49	%	to	0.85	%		(11.09	)%	to	(10.80	)%
2017		6	$	13.50	to	$	13.67	$	81		0.91	%		0.49	%	to	0.85	%		13.19	%	to	13.60	%
2016		6	$	12.07	to	$	12.03	$	70		0.51	%		0.49	%	to	0.85	%		17.05	%	to	17.47	%
2015		6	$	10.32	to	$	10.24	$	59		0.96	%		0.49	%	to	0.85	%		(6.69	)%	to	(6.37	)%
2014		4	$	11.05	to	$	10.93	$	39		0.00	%		0.65	%	to	0.85	%		10.50	%	to	9.30	%
PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO
(Effective date 05/01/2014)
2018		20	$	5.41	to	$	5.46	$	110		2.06	%		0.49	%	to	0.69	%		(14.73	)%	to	(14.55	)%
2017		21	$	6.35	to	$	6.39	$	132		7.36	%		0.49	%	to	0.69	%		1.47	%	to	1.65	%
2016		2	$	6.25	to	$	6.29	$	10		1.11	%		0.49	%	to	0.69	%		14.37	%	to	14.58	%
2015		2	$	5.47	to	$	5.49	$	9		2.77	%		0.49	%	to	0.69	%		(26.22	)%	to	(26.06	)%
2014		1	$	7.40	to	$	7.40	$	6		0.20	%		0.65	%	to	0.65	%		(26.00	)%	to	(26.00	)%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
PIMCO VIT EMERGING MARKETS BOND PORTFOLIO
(Effective date 04/28/2017)
2018		2	$	9.81	to	$	9.81	$	19		3.40	%		0.49	%	to	0.49	%		(5.20	)%	to	(5.20	)%
PIMCO VIT HIGH YIELD PORTFOLIO
2018		51	$	21.85	to	$	11.16	$	920		5.09	%		0.49	%	to	0.85	%		(3.48	)%	to	(3.13	)%
2017		46	$	22.63	to	$	11.52	$	912		4.84	%		0.49	%	to	0.85	%		5.71	%	to	6.08	%
2016		43	$	21.41	to	$	10.86	$	817		4.86	%		0.49	%	to	0.85	%		11.46	%	to	11.90	%
2015		40	$	19.21	to	$	9.68	$	709		5.12	%		0.65	%	to	0.85	%		(2.48	)%	to	(2.26	)%
2014		49	$	19.70	to	$	14.90	$	896		5.22	%		0.65	%	to	0.85	%		2.50	%	to	2.62	%
PIMCO VIT LOW DURATION PORTFOLIO
2018		249	$	13.29	to	$	10.08	$	3,033		1.92	%		0.49	%	to	0.85	%		(0.51	)%	to	(0.15	)%
2017		252	$	13.36	to	$	10.10	$	3,085		1.34	%		0.49	%	to	0.85	%		0.50	%	to	0.85	%
2016		268	$	13.29	to	$	10.01	$	3,308		1.49	%		0.49	%	to	0.85	%		0.54	%	to	0.92	%
2015		275	$	13.22	to	$	9.92	$	3,369		3.36	%		0.49	%	to	0.85	%		(0.53	)%	to	(0.18	)%
2014		271	$	13.29	to	$	12.05	$	3,457		1.12	%		0.65	%	to	0.85	%		0.00	%	to	0.25	%
PIMCO VIT REAL RETURN PORTFOLIO
(Effective date 05/29/2014)
2018		13	$	9.95	to	$	9.84	$	129		2.56	%		0.49	%	to	0.85	%		(3.04	)%	to	(2.69	)%
2017		13	$	10.27	to	$	10.12	$	132		2.24	%		0.49	%	to	0.85	%		2.78	%	to	3.15	%
2016		9	$	9.76	to	$	9.81	$	92		2.45	%		0.49	%	to	0.69	%		4.48	%	to	4.67	%
2015		1	$	9.34	to	$	9.37	$	13		8.86	%		0.49	%	to	0.69	%		(3.38	)%	to	(3.17	)%
PIMCO VIT TOTAL RETURN PORTFOLIO
2018		301	$	16.42	to	$	10.64	$	4,126		2.55	%		0.49	%	to	0.85	%		(1.38	)%	to	(1.02	)%
2017		279	$	16.65	to	$	10.75	$	4,012		2.02	%		0.49	%	to	0.85	%		4.03	%	to	4.41	%
2016		264	$	16.01	to	$	10.30	$	3,764		2.07	%		0.49	%	to	0.85	%		1.81	%	to	2.18	%
2015		193	$	15.72	to	$	10.08	$	2,836		4.91	%		0.49	%	to	0.85	%		(0.40	)%	to	(0.05	)%
2014		198	$	15.78	to	$	13.83	$	2,989		1.99	%		0.65	%	to	0.85	%		3.34	%	to	3.60	%
PIONEER FUND VCT PORTFOLIO
2018		7	$	26.23	to	$	18.65	$	146		1.14	%		0.65	%	to	0.85	%		(2.35	)%	to	(2.15	)%
2017		7	$	26.86	to	$	19.06	$	150		1.16	%		0.65	%	to	0.85	%		20.69	%	to	20.93	%
2016		8	$	22.26	to	$	15.76	$	152		1.33	%		0.65	%	to	0.85	%		8.89	%	to	9.10	%
2015		10	$	20.44	to	$	14.45	$	169		1.09	%		0.65	%	to	0.85	%		(0.91	)%	to	(0.71	)%
2014		11	$	20.63	to	$	14.55	$	189		1.16	%		0.65	%	to	0.85	%		10.09	%	to	10.31	%
PIONEER MID CAP VALUE VCT PORTFOLIO
2018		9	$	15.55	to	$	14.88	$	138		0.45	%		0.65	%	to	0.85	%		(20.18	)%	to	(20.02	)%
2017		9	$	19.49	to	$	18.61	$	165		0.61	%		0.65	%	to	0.85	%		11.92	%	to	12.13	%
2016		8	$	17.41	to	$	16.59	$	146		0.48	%		0.65	%	to	0.85	%		15.24	%	to	15.48	%
2015		9	$	15.11	to	$	14.37	$	131		0.55	%		0.65	%	to	0.85	%		(7.14	)%	to	(6.96	)%
2014		8	$	16.27	to	$	15.45	$	137		0.64	%		0.65	%	to	0.85	%		13.86	%	to	14.11	%
PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO
2018		12	$	30.10	to	$	13.35	$	216		0.00	%		0.49	%	to	0.85	%		(7.28	)%	to	(6.94	)%
2017		13	$	32.47	to	$	14.35	$	268		0.08	%		0.49	%	to	0.85	%		28.93	%	to	29.40	%
2016		8	$	25.18	to	$	11.09	$	155		0.00	%		0.49	%	to	0.85	%		2.86	%	to	3.23	%
2015		5	$	24.48	to	$	19.05	$	112		0.00	%		0.85	%	to	0.85	%		0.77	%	to	0.77	%
2014		5	$	24.29	to	$	18.90	$	115		0.00	%		0.85	%	to	0.85	%		8.49	%	to	8.50	%
PRUDENTIAL SERIES FUND EQUITY PORTFOLIO
2018		7	$	26.47	to	$	21.05	$	163		0.00	%		0.85	%	to	0.85	%		(6.03	)%	to	(6.04	)%
2017		14	$	28.17	to	$	13.63	$	290		0.00	%		0.49	%	to	0.85	%		24.23	%	to	24.68	%
2016		17	$	22.68	to	$	10.93	$	270		0.00	%		0.49	%	to	0.85	%		2.48	%	to	2.84	%
2015		19	$	22.13	to	$	10.63	$	299		0.00	%		0.49	%	to	0.85	%		1.10	%	to	1.47	%
2014		14	$	17.41	to	$	22.14	$	260		0.00	%		0.65	%	to	0.85	%		6.35	%	to	6.60	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO
(Effective date 05/01/2009)
2018		2	$	8.42	to	$	8.42	$	15		0.00	%		0.85	%	to	0.85	%		(19.11	)%	to	(19.11	)%
2017		2	$	10.41	to	$	10.41	$	19		0.00	%		0.85	%	to	0.85	%		(1.38	)%	to	(1.38	)%
2016		2	$	10.56	to	$	10.56	$	19		0.00	%		0.85	%	to	0.85	%		23.77	%	to	23.77	%
2015		4	$	8.53	to	$	8.53	$	37		0.00	%		0.85	%	to	0.85	%		(29.45	)%	to	(29.45	)%
2014		5	$	12.09	to	$	12.09	$	54		0.00	%		0.85	%	to	0.85	%		(20.51	)%	to	(20.51	)%
PUTNAM VT EQUITY INCOME FUND
(Effective date 04/30/2010)
2018		37	$	21.53	to	$	12.48	$	625		0.67	%		0.49	%	to	0.85	%		(9.27	)%	to	(8.94	)%
2017		41	$	23.73	to	$	13.71	$	796		1.68	%		0.49	%	to	0.85	%		17.77	%	to	18.19	%
2016		47	$	20.15	to	$	11.60	$	800		1.90	%		0.49	%	to	0.85	%		12.69	%	to	13.09	%
2015		50	$	17.88	to	$	10.26	$	761		1.49	%		0.49	%	to	0.85	%		(3.87	)%	to	(3.52	)%
2014		51	$	18.60	to	$	18.77	$	909		0.78	%		0.65	%	to	0.85	%		11.71	%	to	11.93	%
PUTNAM VT GLOBAL ASSET ALLOCATION FUND
(Effective date 04/29/2016)
2018		7	$	11.26	to	$	11.26	$	77		2.07	%		0.65	%	to	0.65	%		(7.63	)%	to	(7.63	)%
2017		7	$	12.19	to	$	12.19	$	84		0.00	%		0.65	%	to	0.65	%		14.92	%	to	14.92	%
PUTNAM VT GLOBAL HEALTH CARE FUND
(Effective date 05/02/2011)
2018		28	$	19.56	to	$	12.70	$	491		0.92	%		0.49	%	to	0.85	%		(1.44	)%	to	(1.08	)%
2017		28	$	19.84	to	$	12.84	$	511		0.52	%		0.49	%	to	0.85	%		14.32	%	to	14.74	%
2016		32	$	17.36	to	$	11.19	$	519		0.00	%		0.49	%	to	0.85	%		(12.10	)%	to	(11.79	)%
2015		40	$	19.75	to	$	12.68	$	731		0.00	%		0.49	%	to	0.85	%		6.87	%	to	7.27	%
2014		34	$	18.48	to	$	18.61	$	602		0.19	%		0.65	%	to	0.85	%		26.58	%	to	26.77	%
PUTNAM VT INCOME FUND
(Effective date 05/01/2015)
2018		18	$	10.33	to	$	10.33	$	186		3.21	%		0.49	%	to	0.49	%		(0.13	)%	to	(0.13	)%
2017		18	$	10.34	to	$	10.34	$	189		0.00	%		0.49	%	to	0.49	%		5.39	%	to	5.39	%
PUTNAM VT INTERNATIONAL VALUE FUND
(Effective date 05/01/2015)
2018		8	$	9.20	to	$	9.20	$	71		2.21	%		0.49	%	to	0.49	%		(17.79	)%	to	(17.79	)%
2017		7	$	11.19	to	$	11.19	$	80		1.42	%		0.49	%	to	0.49	%		24.45	%	to	24.45	%
2016		4	$	8.99	to	$	8.99	$	38		0.00	%		0.49	%	to	0.49	%		0.80	%	to	0.80	%
PUTNAM VT MORTGAGE SECURITIES FUND
(Effective date 04/30/2010)
2018		47	$	10.86	to	$	9.94	$	485		2.72	%		0.49	%	to	0.85	%		(1.76	)%	to	(1.39	)%
2017		48	$	11.05	to	$	10.08	$	503		1.18	%		0.49	%	to	0.85	%		1.11	%	to	1.46	%
2016		33	$	10.93	to	$	9.94	$	366		2.13	%		0.49	%	to	0.85	%		(0.65	)%	to	(0.28	)%
2015		46	$	11.00	to	$	11.13	$	505		1.08	%		0.65	%	to	0.85	%		(1.49	)%	to	(1.29	)%
2014		20	$	11.17	to	$	11.28	$	222		0.08	%		0.65	%	to	0.85	%		3.43	%	to	3.87	%
PUTNAM VT MULTI-CAP CORE FUND
(Effective date 05/01/2014)
2018		5	$	13.22	to	$	13.32	$	73		1.37	%		0.49	%	to	0.65	%		(8.05	)%	to	(7.90	)%
2017		8	$	14.74	to	$	14.46	$	123		1.36	%		0.49	%	to	0.65	%		22.35	%	to	22.54	%
2016		11	$	12.05	to	$	11.80	$	126		1.50	%		0.49	%	to	0.65	%		11.62	%	to	11.80	%
2015		11	$	10.79	to	$	10.55	$	113		0.81	%		0.49	%	to	0.65	%		(2.59	)%	to	(2.44	)%
2014		5	$	11.08	to	$	10.81	$	52		0.00	%		0.65	%	to	0.65	%		10.80	%	to	8.10	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO
(Effective date 05/01/2009)
2018		5	$	22.30	to	$	10.48	$	99		0.29	%		0.49	%	to	0.85	%		(9.28	)%	to	(8.94	)%
2017		5	$	24.58	to	$	11.50	$	118		0.74	%		0.49	%	to	0.85	%		4.22	%	to	4.59	%
2016		5	$	23.58	to	$	23.95	$	128		1.70	%		0.65	%	to	0.85	%		19.52	%	to	19.75	%
2015		5	$	19.73	to	$	20.00	$	108		0.35	%		0.65	%	to	0.85	%		(12.72	)%	to	(12.54	)%
2014		9	$	22.61	to	$	22.86	$	193		0.00	%		0.65	%	to	0.85	%		2.08	%	to	2.24	%
SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO
2018		710	$	12.57	to	$	9.97	$	8,301		1.55	%		0.49	%	to	0.85	%		0.66	%	to	1.03	%
2017		470	$	12.48	to	$	9.87	$	5,523		0.45	%		0.49	%	to	0.85	%		(0.41	)%	to	(0.05	)%
2016		474	$	12.53	to	$	9.88	$	5,643		0.01	%		0.49	%	to	0.85	%		(0.83	)%	to	(0.47	)%
2015		462	$	12.64	to	$	9.92	$	5,412		0.01	%		0.49	%	to	0.85	%		(0.83	)%	to	(0.48	)%
2014		643	$	12.75	to	$	9.97	$	7,488		0.01	%		0.49	%	to	0.85	%		(0.78	)%	to	(0.30	)%
SCHWAB S&P 500 INDEX PORTFOLIO
2018		877	$	35.57	to	$	13.93	$	18,992		1.65	%		0.49	%	to	0.85	%		(5.22	)%	to	(4.87	)%
2017		665	$	37.53	to	$	14.64	$	17,442		1.63	%		0.49	%	to	0.85	%		20.70	%	to	21.13	%
2016		615	$	31.10	to	$	12.09	$	14,205		1.77	%		0.49	%	to	0.85	%		10.74	%	to	11.14	%
2015		595	$	28.08	to	$	10.88	$	12,722		1.61	%		0.49	%	to	0.85	%		0.31	%	to	0.67	%
2014		507	$	27.99	to	$	10.79	$	11,667		1.48	%		0.65	%	to	0.85	%		12.45	%	to	7.90	%
SCHWAB VIT BALANCED PORTFOLIO
(Effective date 04/29/2016)
2018		9	$	10.59	to	$	10.59	$	91		1.34	%		0.49	%	to	0.49	%		(5.10	)%	to	(5.10	)%
SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO
(Effective date 04/29/2016)
2018		46	$	10.81	to	$	10.87	$	498		2.12	%		0.49	%	to	0.69	%		(7.35	)%	to	(7.17	)%
2017		147	$	11.67	to	$	11.71	$	1,716		0.27	%		0.49	%	to	0.69	%		12.92	%	to	13.15	%
SCHWAB VIT GROWTH PORTFOLIO
(Effective date 04/29/2016)
2018		18	$	11.10	to	$	11.16	$	203		1.34	%		0.49	%	to	0.69	%		(8.99	)%	to	(8.80	)%
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO
(Effective date 05/29/2014)
2018		2	$	15.66	to	$	15.66	$	30		0.00	%		0.49	%	to	0.49	%		0.62	%	to	0.62	%
2017		2	$	15.56	to	$	15.56	$	27		0.00	%		0.49	%	to	0.49	%		26.97	%	to	26.97	%
2016		3	$	12.26	to	$	12.26	$	40		0.00	%		0.49	%	to	0.49	%		(10.92	)%	to	(10.92	)%
2015		3	$	13.76	to	$	13.76	$	45		0.00	%		0.49	%	to	0.49	%		12.22	%	to	12.22	%
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II
(Effective date 05/01/2014)
2018		1	$	15.22	to	$	15.36	$	15		0.00	%		0.65	%	to	0.85	%		(0.01	)%	to	0.20	%
2017		1	$	15.22	to	$	15.33	$	15		0.00	%		0.65	%	to	0.85	%		26.23	%	to	26.48	%
2016		6	$	12.46	to	$	12.12	$	75		0.00	%		0.65	%	to	0.85	%		(11.47	)%	to	(11.29	)%
2015		6	$	14.07	to	$	13.67	$	88		0.00	%		0.65	%	to	0.85	%		11.51	%	to	11.75	%
2014		6	$	12.62	to	$	12.23	$	80		0.00	%		0.65	%	to	0.85	%		26.20	%	to	22.30	%
TEMPLETON FOREIGN VIP FUND
(Effective date 04/30/2010)
2018		34	$	11.52	to	$	8.36	$	338		2.75	%		0.49	%	to	0.85	%		(16.16	)%	to	(15.86	)%
2017		58	$	13.75	to	$	9.93	$	714		2.77	%		0.49	%	to	0.85	%		15.71	%	to	16.13	%
2016		72	$	11.88	to	$	8.55	$	771		1.91	%		0.49	%	to	0.85	%		6.27	%	to	6.66	%
2015		58	$	11.18	to	$	8.02	$	607		3.20	%		0.49	%	to	0.85	%		(7.28	)%	to	(6.95	)%
2014		39	$	12.06	to	$	12.17	$	474		1.97	%		0.65	%	to	0.85	%		(11.84	)%	to	(11.68	)%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
TEMPLETON GLOBAL BOND VIP FUND
(Effective date 05/01/2014)
2018		80	$	9.92	to	$	9.90	$	791		0.00	%		0.49	%	to	0.85	%		1.07	%	to	1.43	%
2017		73	$	9.82	to	$	9.76	$	718		0.00	%		0.49	%	to	0.85	%		1.07	%	to	1.43	%
2016		32	$	9.71	to	$	9.63	$	309		0.00	%		0.49	%	to	0.85	%		2.06	%	to	2.44	%
2015		34	$	9.52	to	$	9.40	$	323		7.81	%		0.49	%	to	0.85	%		(5.12	)%	to	(4.77	)%
2014		27	$	10.03	to	$	9.86	$	267		1.92	%		0.65	%	to	0.85	%		0.30	%	to	(1.40	)%
THIRD AVENUE VALUE PORTFOLIO
2018		4	$	9.53	to	$	10.30	$	40		1.72	%		0.65	%	to	0.85	%		(21.02	)%	to	(20.86	)%
2017		5	$	12.07	to	$	13.02	$	65		0.84	%		0.65	%	to	0.85	%		12.62	%	to	12.86	%
2016		5	$	10.72	to	$	11.53	$	59		0.91	%		0.65	%	to	0.85	%		11.28	%	to	11.50	%
2015		8	$	9.63	to	$	10.34	$	93		3.33	%		0.65	%	to	0.85	%		(9.66	)%	to	(9.48	)%
2014		9	$	10.66	to	$	11.43	$	102		3.02	%		0.65	%	to	0.85	%		3.50	%	to	3.72	%
TVST TOUCHSTONE BOND FUND
(Effective date 05/01/2009)
2018		79	$	12.58	to	$	9.85	$	931		2.41	%		0.49	%	to	0.85	%		(2.71	)%	to	(2.36	)%
2017		82	$	12.94	to	$	10.09	$	985		0.00	%		0.49	%	to	0.85	%		2.80	%	to	3.17	%
2016		70	$	12.59	to	$	9.78	$	810		1.78	%		0.49	%	to	0.85	%		(0.04	)%	to	0.32	%
2015		86	$	12.59	to	$	9.75	$	1,005		3.06	%		0.49	%	to	0.85	%		(2.12	)%	to	(1.76	)%
2014		74	$	12.86	to	$	13.01	$	894		8.16	%		0.65	%	to	0.85	%		3.13	%	to	3.34	%
TVST TOUCHSTONE COMMON STOCK FUND
(Effective date 05/01/2009)
2018		11	$	28.80	to	$	13.07	$	285		1.24	%		0.49	%	to	0.85	%		(8.83	)%	to	(8.50	)%
2017		11	$	31.59	to	$	14.29	$	305		0.01	%		0.49	%	to	0.85	%		20.48	%	to	20.91	%
2016		6	$	26.22	to	$	26.63	$	155		1.77	%		0.65	%	to	0.85	%		10.32	%	to	10.54	%
2015		6	$	23.77	to	$	24.09	$	141		2.77	%		0.65	%	to	0.85	%		(0.66	)%	to	(0.46	)%
2014		6	$	23.93	to	$	24.20	$	144		1.00	%		0.65	%	to	0.85	%		9.42	%	to	9.60	%
TVST TOUCHSTONE FOCUSED FUND
(Effective date 05/01/2009)
2018		17	$	28.93	to	$	12.90	$	330		0.47	%		0.49	%	to	0.85	%		(8.76	)%	to	(8.42	)%
2017		7	$	31.70	to	$	32.26	$	232		0.57	%		0.65	%	to	0.85	%		12.68	%	to	12.91	%
2016		7	$	28.13	to	$	28.57	$	196		0.00	%		0.65	%	to	0.85	%		12.16	%	to	12.38	%
2015		7	$	25.09	to	$	25.42	$	174		0.00	%		0.65	%	to	0.85	%		1.11	%	to	1.31	%
2014		7	$	24.81	to	$	25.09	$	169		0.00	%		0.65	%	to	0.85	%		12.16	%	to	12.36	%
TVST TOUCHSTONE SMALL COMPANY FUND
(Effective date 05/01/2009)
2018		6	$	31.02	to	$	13.45	$	160		0.00	%		0.49	%	to	0.85	%		(8.76	)%	to	(8.43	)%
2017		5	$	34.00	to	$	14.69	$	153		0.06	%		0.49	%	to	0.85	%		18.12	%	to	18.54	%
2016		2	$	28.79	to	$	12.40	$	65		0.09	%		0.49	%	to	0.85	%		19.21	%	to	19.63	%
2015		1	$	24.15	to	$	24.47	$	27		0.00	%		0.65	%	to	0.85	%		(2.17	)%	to	(1.98	)%
2014		1	$	24.68	to	$	24.97	$	36		0.24	%		0.65	%	to	0.85	%		5.74	%	to	5.98	%
VAN ECK VIP GLOBAL HARD ASSETS FUND
(Effective date 05/01/2009)
2018		7	$	4.85	to	$	8.37	$	56		0.00	%		0.65	%	to	0.85	%		(29.03	)%	to	(28.89	)%
2017		20	$	11.57	to	$	6.92	$	214		0.00	%		0.49	%	to	0.85	%		(2.80	)%	to	(2.44	)%
2016		44	$	11.90	to	$	7.10	$	447		0.36	%		0.49	%	to	0.85	%		42.20	%	to	42.70	%
2015		39	$	8.37	to	$	4.97	$	284		0.03	%		0.49	%	to	0.85	%		(34.19	)%	to	(33.94	)%
2014		27	$	12.72	to	$	12.86	$	343		0.00	%		0.65	%	to	0.85	%		(20.00	)%	to	(19.88	)%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND
(Effective date 05/01/2009)
2018		19	$	11.06	to	$	11.27	$	205		8.23	%		0.65	%	to	0.85	%		(6.94	)%	to	(6.75	)%
2017		22	$	11.88	to	$	9.56	$	260		2.37	%		0.49	%	to	0.85	%		11.30	%	to	11.70	%
2016		29	$	10.68	to	$	8.56	$	301		0.00	%		0.49	%	to	0.85	%		5.52	%	to	5.90	%
2015		39	$	10.12	to	$	8.08	$	385		6.39	%		0.49	%	to	0.85	%		(13.82	)%	to	(13.51	)%
2014		38	$	11.74	to	$	11.87	$	452		6.06	%		0.65	%	to	0.85	%		1.29	%	to	1.45	%
VANGUARD VIF CAPITAL GROWTH PORTFOLIO
(Effective date 05/29/2014)
2018		9	$	15.50	to	$	15.64	$	137		0.82	%		0.49	%	to	0.69	%		(1.86	)%	to	(1.67	)%
2017		13	$	15.79	to	$	15.91	$	209		0.47	%		0.49	%	to	0.69	%		27.95	%	to	28.20	%
2016		4	$	12.34	to	$	12.41	$	48		1.26	%		0.49	%	to	0.69	%		10.08	%	to	10.30	%
2015		4	$	11.21	to	$	11.25	$	44		0.00	%		0.49	%	to	0.69	%		1.92	%	to	2.12	%
VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO
(Effective date 05/29/2014)
2018		5	$	11.52	to	$	11.52	$	62		2.26	%		0.49	%	to	0.49	%		(9.56	)%	to	(9.56	)%
2017		12	$	12.65	to	$	12.74	$	154		0.00	%		0.49	%	to	0.69	%		12.39	%	to	12.61	%
VANGUARD VIF MID-CAP INDEX PORTFOLIO
(Effective date 05/29/2014)
2018		15	$	12.43	to	$	12.55	$	189		1.04	%		0.49	%	to	0.69	%		(9.96	)%	to	(9.77	)%
2017		13	$	13.81	to	$	13.91	$	181		0.67	%		0.49	%	to	0.69	%		18.27	%	to	18.50	%
2016		5	$	11.68	to	$	11.74	$	57		1.35	%		0.49	%	to	0.69	%		10.35	%	to	10.58	%
2015		3	$	10.58	to	$	10.62	$	36		0.89	%		0.49	%	to	0.69	%		(2.11	)%	to	(1.92	)%
2014		3	$	10.81	to	$	10.81	$	28		0.00	%		0.69	%	to	0.69	%		8.10	%	to	8.10	%
VANGUARD VIF REAL ESTATE INDEX PORTFOLIO
(Effective date 05/29/2014)
2018		11	$	11.97	to	$	12.08	$	127		2.34	%		0.49	%	to	0.69	%		(6.00	)%	to	(5.82	)%
2017		8	$	12.73	to	$	12.82	$	96		1.86	%		0.49	%	to	0.69	%		4.05	%	to	4.26	%
2016		4	$	12.24	to	$	12.30	$	52		2.45	%		0.49	%	to	0.69	%		7.62	%	to	7.83	%
2015		1	$	11.37	to	$	11.41	$	7		0.00	%		0.49	%	to	0.69	%		1.52	%	to	1.72	%
VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO
(Effective date 05/29/2014)
2018		15	$	13.45	to	$	13.58	$	209		0.34	%		0.49	%	to	0.69	%		(7.91	)%	to	(7.72	)%
2017		11	$	14.61	to	$	14.71	$	159		0.39	%		0.49	%	to	0.69	%		22.62	%	to	22.86	%
2016		7	$	11.91	to	$	11.97	$	89		0.32	%		0.49	%	to	0.69	%		14.15	%	to	14.38	%
2015		4	$	10.44	to	$	10.47	$	39		0.31	%		0.49	%	to	0.69	%		(3.42	)%	to	(3.23	)%
2014		3	$	10.80	to	$	10.80	$	28		0.00	%		0.69	%	to	0.69	%		8.10	%	to	8.10	%
WELLS FARGO VT DISCOVERY FUND
(Effective date 05/01/2008)
2018		1	$	22.86	to	$	23.35	$	31		0.00	%		0.65	%	to	0.85	%		(7.85	)%	to	(7.67	)%
2017		1	$	14.19	to	$	25.29	$	35		0.00	%		0.65	%	to	0.85	%		28.04	%	to	28.30	%
2016		1	$	19.37	to	$	19.71	$	26		0.00	%		0.65	%	to	0.85	%		6.74	%	to	6.95	%
2015		2	$	18.15	to	$	18.43	$	37		0.00	%		0.65	%	to	0.85	%		(2.30	)%	to	(2.10	)%
2014		3	$	18.58	to	$	18.83	$	48		0.00	%		0.65	%	to	0.85	%		(0.48	)%	to	(0.26	)%
WELLS FARGO VT OMEGA GROWTH FUND
(Effective date 05/01/2014)
2018		6	$	14.38	to	$	14.02	$	87		0.00	%		0.65	%	to	0.85	%		(0.59	)%	to	(0.38	)%
2017		6	$	14.47	to	$	14.08	$	93		0.01	%		0.65	%	to	0.85	%		33.46	%	to	33.73	%
2016		3	$	10.84	to	$	10.84	$	29		0.00	%		0.85	%	to	0.85	%		(0.33	)%	to	(0.33	)%
2015		3	$	10.88	to	$	10.88	$	28		0.00	%		0.85	%	to	0.85	%		0.49	%	to	0.49	%
2014		1	$	10.82	to	$	10.84	$	16		0.00	%		0.65	%	to	0.85	%		8.20	%	to	8.40	%

(Continued ) 

VARIABLE ANNUITY-1 SERIES ACCOUNT OF

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK

FINANCIAL HIGHLIGHTS	At December 31									For the year or period ended December 31
INVESTMENT DIVISIONS	Units (000s)		Unit Fair Value					Net Assets (000s)		Investment Income Ratio			Expense Ratio (lowest to highest)						Total Return
WELLS FARGO VT OPPORTUNITY FUND
2018		6	$	21.03	to	$	19.57	$	130		0.19	%		0.65	%	to	0.85	%		(7.94	)%	to	(7.75	)%
2017		7	$	22.85	to	$	21.22	$	180		0.78	%		0.65	%	to	0.85	%		19.42	%	to	19.66	%
2016		4	$	19.13	to	$	17.73	$	98		2.11	%		0.65	%	to	0.85	%		11.28	%	to	11.51	%
2015		5	$	17.19	to	$	15.90	$	101		0.12	%		0.65	%	to	0.85	%		(3.91	)%	to	(3.71	)%
2014		5	$	17.89	to	$	16.52	$	109		0.06	%		0.65	%	to	0.85	%		9.49	%	to	9.77	%

* The Investment Division has units that round to less than 1,000 units.

(Concluded ) 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Contract Owners of Variable Annuity-1 Series Account and the Board of Directors of Great-West Life & Annuity Insurance Company of New York

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the investment divisions listed in Appendix A of the Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York (the “Series Account”) as of December 31, 2018, the related statements of operations and changes in net assets for the periods indicated in Appendix A, and the related notes. In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the investment divisions constituting the Series Account as of December 31, 2018, the results of their operations and the changes in their net assets for each of the periods indicated in Appendix A, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Series Account’s management. Our responsibility is to express an opinion on the Series Account’s financial statements 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 the Series 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 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. The Series Account is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Series Account’s internal control over financial reporting. Accordingly, we express no such opinion.

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 securities owned as of December 31, 2018, by correspondence with mutual fund companies; when replies were not received from mutual fund companies, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ DELOITTE & TOUCHE LLP

Denver, Colorado

April 8, 2019

We have served as the auditor of one or more Great-West investment company separate accounts since 1981.

VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

Investment division	Statement of assets and liabilities	Statement of operations	Statements of changes in net assets
AB VPS GROWTH AND INCOME PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AB VPS GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AB VPS INTERNATIONAL GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AB VPS INTERNATIONAL VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AB VPS REAL ESTATE INVESTMENT PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AB VPS SMALL/MID CAP VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
ALGER CAPITAL APPRECIATION PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
ALGER LARGE CAP GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
ALGER MID CAP GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
ALPS RED ROCKS LISTED PRIVATE EQUITY PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period August 7, 2017 to December 31, 2017
AMERICAN CENTURY INVESTMENTS VP BALANCED FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AMERICAN CENTURY INVESTMENTS VP INCOME & GROWTH FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AMERICAN CENTURY INVESTMENTS VP INTERNATIONAL FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AMERICAN CENTURY INVESTMENTS VP MID CAP VALUE FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AMERICAN CENTURY INVESTMENTS VP VALUE FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
AMERICAN FUNDS IS GLOBAL GROWTH FUND	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period April 20, 2017 to December 31, 2017

Page 1 of 8

VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

AMERICAN FUNDS IS INTERNATIONAL FUND	N/A	For the period March 19, 2018 to November 6, 2018	For the period March 19, 2018 to November 6, 2018
AMERICAN FUNDS IS NEW WORLD FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
BLACKROCK GLOBAL ALLOCATION VI FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
CLEARBRIDGE VARIABLE MID CAP PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period March 6, 2017 to December 31, 2017
CLEARBRIDGE VARIABLE SMALL CAP GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period February 14, 2017 to December 31, 2017
COLUMBIA VARIABLE PORTFOLIO - LARGE CAP GROWTH FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
COLUMBIA VARIABLE PORTFOLIO - SELIGMAN GLOBAL TECHNOLOGY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
COLUMBIA VARIABLE PORTFOLIO - SMALL CAP VALUE FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DELAWARE VIP EMERGING MARKETS SERIES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DELAWARE VIP SMALL CAP VALUE SERIES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DELAWARE VIP SMID CAP CORE SERIES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DELAWARE VIP VALUE SERIES	N/A	For the period March 19, 2018 to November 6, 2018	For the period March 19, 2018 to November 6, 2018
DIMENSIONAL VA US TARGETED VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DREYFUS IP MIDCAP STOCK PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DREYFUS VIF APPRECIATION PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DREYFUS VIF GROWTH AND INCOME PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018

Page 2 of 8

VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

DWS CAPITAL GROWTH VIP	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DWS CORE EQUITY VIP	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DWS CROCI® U.S. VIP	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DWS GLOBAL SMALL CAP VIP	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period October 19, 2017 to December 31, 2017
DWS SMALL CAP INDEX VIP	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
DWS SMALL MID CAP GROWTH VIP	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period August 8, 2017 to December 31, 2017
DWS SMALL MID CAP VALUE VIP	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
FEDERATED MANAGED TAIL RISK FUND II	N/A	For the period January 1, 2018 to August 20, 2018	For the period January 1, 2018 to August 20, 2018 and for the year ended December 31, 2017
FEDERATED MANAGED VOLATILITY FUND II	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
FRANKLIN SMALL CAP VALUE VIP FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
GREAT-WEST ARIEL MID CAP VALUE FUND	N/A	N/A	For the period January 1, 2017 to August 10, 2017
GREAT-WEST AGGRESSIVE PROFILE FUND	December 31, 2018	For the period June 18, 2018 to December 31, 2018	For the period June 18, 2018 to December 31, 2018
GREAT-WEST BOND INDEX FUND	December 31, 2018	For the period August 14, 2018 to December 31, 2018	For the period August 14, 2018 to December 31, 2018
GREAT-WEST CONSERVATIVE PROFILE FUND	December 31, 2018	For the period June 6, 2018 to December 31, 2018	For the period June 6, 2018 to December 31, 2018
GREAT-WEST MID CAP VALUE FUND	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period April 20, 2017 to December 31, 2017

Page 3 of 8

VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

GREAT-WEST MODERATE PROFILE FUND	December 31, 2018	For the period July 16, 2018 to December 31, 2018	For the period July 16, 2018 to December 31, 2018
GREAT-WEST MODERATELY CONSERVATIVE PROFILE FUND	December 31, 2018	For the period July 3, 2018 to December 31, 2018	For the period July 3, 2018 to December 31, 2018
GREAT-WEST MULTI-SECTOR BOND FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
GREAT-WEST SECUREFOUNDATION® BALANCED FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
GREAT-WEST T. ROWE PRICE MID CAP GROWTH FUND	December 31, 2018	For the period March 19, 2018 to December 31, 2018	For the period March 19, 2018 to December 31, 2018
INVESCO V.I. COMSTOCK FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. CORE EQUITY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. GROWTH & INCOME FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. HIGH YIELD FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. INTERNATIONAL GROWTH FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. MID CAP CORE EQUITY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. SMALL CAP EQUITY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
INVESCO V.I. TECHNOLOGY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
IVY VIP INTERNATIONAL CORE EQUITY	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT BALANCED PORTFOLIO INSTITUTIONAL SHARES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT BALANCED PORTFOLIO SERVICE SHARES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO INSTITUTIONAL SHARES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018

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VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

JANUS HENDERSON VIT FLEXIBLE BOND PORTFOLIO SERVICE SHARES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT GLOBAL RESEARCH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO INSTITUTIONAL SHARES	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period October 19, 2017 to December 31, 2017
JANUS HENDERSON VIT GLOBAL TECHNOLOGY PORTFOLIO SERVICE SHARES	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period August 7, 2017 to December 31, 2017
JANUS HENDERSON VIT OVERSEAS PORTFOLIO INSTITUTIONAL SHARES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT OVERSEAS PORTFOLIO SERVICE SHARES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JANUS HENDERSON VIT RESEARCH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
JPMORGAN INSURANCE TRUST INTREPID MID CAP PORTFOLIO	N/A	N/A	For the period January 1, 2017 to May 22, 2017
JPMORGAN INSURANCE TRUST SMALL CAP CORE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
LAZARD RETIREMENT EMERGING MARKETS EQUITY PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
LVIP BARON GROWTH OPPORTUNITIES FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
MFS VIT II INTERNATIONAL VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
MFS VIT III MID CAP VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period July 25, 2017 to December 31, 2017
MFS VIT UTILITIES SERIES	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018

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VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

MORGAN STANLEY VIF U.S. REAL ESTATE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
NEUBERGER BERMAN AMT MID CAP INTRINSIC VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
NVIT MID CAP INDEX FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
OPPENHEIMER GLOBAL FUND/VA	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
OPPENHEIMER INTERNATIONAL GROWTH FUND/VA	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
OPPENHEIMER MAIN STREET SMALL CAP FUND/VA	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIMCO VIT COMMODITY REALRETURN STRATEGY PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIMCO VIT EMERGING MARKETS BOND PORTFOLIO	December 31, 2018	For the period March 13, 2018 to December 31, 2018	For the period March 13, 2018 to December 31, 2018
PIMCO VIT HIGH YIELD PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIMCO VIT LOW DURATION PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIMCO VIT REAL RETURN PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIMCO VIT TOTAL RETURN PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIONEER EMERGING MARKETS VCT PORTFOLIO	N/A	N/A	For the period January 1, 2017 to November 2, 2017
PIONEER FUND VCT PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIONEER MID CAP VALUE VCT PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PIONEER SELECT MID CAP GROWTH VCT PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PRUDENTIAL SERIES FUND EQUITY PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PRUDENTIAL SERIES FUND NATURAL RESOURCES PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018

Page 6 of 8

VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

PUTNAM VT EQUITY INCOME FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PUTNAM VT GLOBAL ASSET ALLOCATION FUND	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period August 10, 2017 to December 31, 2017
PUTNAM VT GLOBAL HEALTH CARE FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PUTNAM VT INCOME FUND	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period April 20, 2017 to December 31, 2017
PUTNAM VT INTERNATIONAL VALUE FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PUTNAM VT MORTGAGE SECURITIES FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
PUTNAM VT MULTI-CAP CORE FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
SCHWAB GOVERNMENT MONEY MARKET PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
SCHWAB MARKETTRACK GROWTH PORTFOLIO II	N/A	For the period January 1, 2018 to November 27, 2018	For the period January 1, 2018 to November 27, 2018 and for the year ended December 31, 2017
SCHWAB S&P 500 INDEX PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
SCHWAB VIT BALANCED PORTFOLIO	December 31, 2018	For the period June 7, 2018 to December 31, 2018	For the period June 7, 2018 to December 31, 2018
SCHWAB VIT BALANCED WITH GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period February 14, 2017 to December 31, 2017
SCHWAB VIT GROWTH PORTFOLIO	December 31, 2018	For the period April 10, 2018 to December 31, 2018	For the period April 10, 2018 to December 31, 2018
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
T. ROWE PRICE HEALTH SCIENCES PORTFOLIO CLASS II	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
TEMPLETON FOREIGN VIP FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018

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VARIABLE ANNUITY-1 SERIES ACCOUNT OF GREAT-WEST LIFE & ANNUITY

INSURANCE COMPANY OF NEW YORK

Report of Independent Registered Public Accounting Firm

APPENDIX A

TEMPLETON GLOBAL BOND VIP FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
THIRD AVENUE VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
TVST TOUCHSTONE BOND FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
TVST TOUCHSTONE COMMON STOCK FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
TVST TOUCHSTONE FOCUSED FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
TVST TOUCHSTONE SMALL COMPANY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
VAN ECK VIP GLOBAL HARD ASSETS FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
VAN ECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
VANGUARD VIF CAPITAL GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
VANGUARD VIF DIVERSIFIED VALUE PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For the year ended December 31, 2018 and for the period July 24, 2017 to December 31, 2017
VANGUARD VIF MID-CAP INDEX PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
VANGUARD VIF REAL ESTATE INDEX PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
VANGUARD VIF SMALL COMPANY GROWTH PORTFOLIO	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
WELLS FARGO VT DISCOVERY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
WELLS FARGO VT OMEGA GROWTH FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018
WELLS FARGO VT OPPORTUNITY FUND	December 31, 2018	For the year ended December 31, 2018	For each of the two years in the period ended December 31, 2018

Page 8 of 8

PART C

OTHER INFORMATION

Item 24. Financial Statements and Exhibits

(a)	Financial Statements
	The balance sheets of Great-West Life & Annuity Insurance Company of New York (“GWL&A NY”) and subsidiaries as of December 31, 2018 and 2017, and the related statements of income, stockholder's equity and cash flows for each of the three years in the period ended December 31, 2018, and the statements of assets and liabilities of each of the investment divisions which comprise Variable Annuity-1 Series Account of GWL&A NY (the “Series Account”) as of December 31, 2018, and the related statements of operations, and changes in net assets and the financial highlights for each of the periods presented are filed herewith.
(b)	Exhibits
	(1)	Certified copy of resolution of Board of Directors of GWL&A NY establishing Registrant is incorporated by reference to initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
	(2)	Not applicable.
	(3)	(a)	Underwriting Agreement between Depositor and GWFS Equities, Inc. (formerly, BenefitsCorp Equities, Inc.) is incorporated by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form N- 4 filed on April 25, 2003 (File No. 333-25289).
		(b)	Selling Agreement between Depositor and GWFS Equities, Inc. and Charles Schwab & Company, Inc. is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 21, 2015 (File No. 333-194044).
	(4)	(a)	Form of variable annuity contract is incorporated by reference to Registrant's initial Registration Statement on Form N-4, filed February 20, 2014 (File No. 333-194044).
		(b)	Form of Guaranteed Lifetime Withdrawal Benefit Rider is incorporated by reference to Registrant's initial Registration Statement on Form N-4, filed February 20, 2014 (File No. 333-194044).
		(c)	Form of Individual Retirement Annuity Endorsement is incorporated by reference to Registrant's initial Registration Statement on Form N-4, filed February 20, 2014 (File No. 333-194044).
		(d)	Form of Roth Individual Retirement Endorsement is incorporated by reference to Registrant's initial Registration Statement on Form N-4, filed February 20, 2014 (File No. 333-194044).
		(e)	Form of Contract Amendment SCH-AMDNY is incorporated by reference to Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 13, 2015 (File No. 333-194044).
		(f)	Form of Guaranteed Lifetime Withdrawal Benefit Rider V2 is incorporated by reference to Registrant’s Post- Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on February 10, 2017 (File No. 333-194044).
		(g)	Form of Non-Qualifed Stretch Annuity Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 8, filed on February 11, 2019 (File No. 333-194044 ).
		(h)	Form of Restricted Beneficiary Payout Options Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 8, filed on February 11, 2019 (File No. 333-194044).
		(i)	Form of Non-Grantor Trust Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 8 filed on February 11, 2019 (File No. 333-194044).
		(j)	Form of Guaranteed Lifetime Withdrawal Benefit Rider amendment is incorporated by reference to Registrant’s Post Effective Amendment No 8. filed on February 11, 2019 (File No. 333-194044).
		(k)	Form of variable annuity contract is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).

C-1

	(l)	Form of Restricted Beneficiary Payout Options Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(m)	Form of Guaranteed Lifetime Withdrawal Benefit Rider is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(n)	Form of Individual Retirement Annuity Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(o)	Form of Non-Grantor Trust Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
	(p)	Form of Roth IRA Endorsement is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
(5)	(a)	F orm of application is incorporated by reference to Registrant's initial Registration Statement on Form N-4, filed February 20, 2014 (File No. 333-194044).
	(b)	Form of application is incorporated by reference to Registrant’s Post Effective Amendment No. 9, filed on April 12, 2019 (File No. 333-194044).
(6)	(a)	The Charter of Depositor is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 20, 2015 (File No. 333-194044).
	(b)	The By-Laws of Depositor is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 20, 2015 (File No. 333-194044).
(7)	Not applicable.
(8)	(a)	Participation Agreement with AIM Variable Insurance Fund (formerly INVESCO Variable Investment Funds, Inc.) is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289); amendment to Participation Agreement with AIM Variable Insurance Fund is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
	(b)	Participation Agreement with Alger American Fund is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289); amendment to Participation Agreement with Alger American Fund is incorporated by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 filed on April 15, 2002 (File No. 333-25289); amendment to Participation Agreement is incorporated by reference to Variable Annuity-2 Series Account’s Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
	(c)	Participation Agreement with AllianceBernstein Variable Products Series Fund, Inc. is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289); amendment to Participation Agreement with AllianceBernstein Variable Products Series Fund, Inc. is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289); amendment to Participation Agreement with AllianceBernstein Variable Products Series Fund, Inc. is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
	(d)	Participation Agreement with ALPS Variable Investment Trust and amendment to Participation Agreement with ALPS Variable Investment Trust are incorporated by reference to Registrant’s Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on February 10, 2017 (File No. 333-194044).

C-2

(e)	Participation Agreement with American Century Variable Portfolios (formerly, TCI Portfolios, Inc.) is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289); amendment to Participation Agreement with American Century Variable Portfolios is incorporated by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 filed on April 15, 2002 (File No. 333-25289); amendment to Participation Agreement with American Century Variable Portfolios is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); amendment to Participation Agreement with American Century Variable Portfolios is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333-147743).
(f)	Participation Agreement with Blackrock Variable Series Funds, Inc. is incorporated by reference to Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 13, 2015 (File No. 333-194044).
(g)	Participation Agreement with Delaware VIP Trust is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289); amendment to Participation Agreement with Delaware VIP Trust is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289); amendment to Participation Agreement with Delaware VIP Trust is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); amendment to Participation Agreement is incorporated by reference to Variable Annuity-2 Series Account’s Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
(h)	Participation Agreement with Dreyfus Variable Investment Fund is incorporated by reference to Post- Effective Amendment No. 9 to the Registration Statement on Form N-4 filed on April 25, 2003 (File No. 333-25289); amendment to Participation Agreement with Dreyfus Variable Investment Fund is incorporated by reference to Pre-Effective Amendment to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); amendment to Participation Agreement with Dreyfus Variable Investment Fund is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333-147743).
(i)	Participation Agreement with DWS Variable Series II (formerly, Scudder Variable Life Investment Fund) is incorporated by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form N-4 filed on April 25, 2003 (File No. 333-25289); amendment to Participation Agreement is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289); amendment to Participation Agreement with DWS Variable Series II is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(j)	Participation Agreement with Federated Insurance Series is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289).
(k)	Participation Agreement with Franklin Templeton Variable Insurance Products Trust is incorporated by reference to amended Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); amendments to Participation Agreement with Franklin Templeton Variable Insurance Products Trust are incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(l)	Participation Agreement with Great-West Funds, Inc. is incorporated by reference to Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 13, 2015 (File No. 333-194044).

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(m)	Participation Agreement with Janus Aspen Series (Institutional Class Shares) is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289); amendment to Participation Agreement with Janus Aspen Series is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); amendment to Participation Agreement with Janus Aspen Series is incorporated by reference to Post-Effective Amendment No. 1 on Form N-4 filed on April 21, 2009 (File No. 333-147743); amendment to Participation Agreement is incorporated by reference to Variable Annuity-2 Series Account’s Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
(n)	Participation Agreement with Legg Mason Partners Variable Equity Trust, Legg Mason Partners Variable Income Trust, Legg Mason Partners Fund Advisor, LLC and Legg Mason Investor Services, LLC is incorporated by reference to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-4, filed on April 20, 2015 (File No. 333-194044).
(o)	Participation Agreement with Baron Capital Fund Trust (now known as Lincoln Variable Insurance Products Trust) (with respect to Capital Asset Fund) is incorporated by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form N-4 filed on April 25, 2003 (File No. 333-25289). Participation Agreement with Lincoln Variable Insurance Products Trust is incorporated by reference to Post-Effective Amendment No. 1 on Form N-4 filed on April 21, 2009 (File No. 333-147743).
(p)	Participation Agreement with Nationwide Variable Insurance Trust (formerly Gartmore Variable Insurance Trust) is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289); amendment to Participation Agreement with Nationwide Variable Insurance Trust is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(q)	Participation Agreement with Neuberger Berman Advisers Management Trust is incorporated by reference to Post-Effective Amendment No. 1 to the Registration Statement on N-4 filed on April 27, 2006 (File No. 333-130820); amendment to Participation Agreement with Neuberger Berman Adviser Management Trust is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(r)	Participation Agreement with Oppenheimer Variable Account Funds is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289); amendment to Participation Agreement with Oppenheimer Variable Account Funds is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289).
(s)	Participation Agreement with PIMCO Variable Insurance Trust is incorporated by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form N-4 filed on March 31, 2004 (File No. 333-25289); amendment to Participation Agreement with PIMCO Variable Insurance Trust is incorporated by reference to the Post-Effective Amendment No. 15 to the Registration Statement, filed on April 29, 2005 (File No. 333-25289); amendment to Participation Agreement with PIMCO Variable Insurance Trust is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); amendment to Participation Agreement is incorporated by reference to Variable Annuity-2 Series Account’s Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on December 21, 2011 (File No. 333-177070).
(t)	Participation Agreement with Pioneer Variable Contracts Trust (formerly, SAFECO Resource Trust) is incorporated by reference to Registrant's Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289) amendment to Participation Agreement with Pioneer Variable Contracts Trust is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).

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(u)	Participation Agreement with Schwab Annuity Portfolios is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289); amendment to Participation Agreement with Schwab Annuity Portfolios is incorporated by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 filed on April 15, 2002 (File No. 333-25289); amendment to Participation Agreement with Schwab Annuity Portfolios is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743); 2016 amendment to Participation Agreement with Schwab Annuity Portfolios is incorporated by reference to Registrant’s Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on February 10, 2017 (File No. 333-194044).
(v)	Participation Agreement with Seligman Portfolios, Inc. is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(w)	Participation Agreement with Third Avenue Value Portfolio is incorporated by reference to Post-Effective Amendment No. 1 to the Registration Statement on N-4 filed on April 27, 2006 (File No. 333-130820); amendment to Participation Agreement with Third Avenue Value Portfolio is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(x)	Participation Agreement with Van Kampen Life Investments Trust is incorporated by reference to initial Registration Statement on Form N-4 filed on January 3, 2006 (File No. 333-130820); amendment to Participation Agreement with Van Kampen Life Investments Trust is incorporated by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 filed on April 24, 2008 (File No. 333-147743).
(y)	Participation Agreement with Wells Fargo Variable Trust is incorporated by reference to initial Registration Statement on Form N-4 filed on November 30, 2007 (File No. 333-147743).
(z)	Participation Agreement with MFS Variable Insurance Trust is incorporated by reference to Post-Effective Amendment No. 39 to the Registration Statement filed by FutureFunds Series Account on Form N-4 on May 27, 2008 (File No. 811-03972). Amended and Restated Participation Agreement with MFS Variable Insurance Trust and MFS Variable Insurance Trust II is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549). Amendment to Participation Agreement with MFS Variable Insurance Trust and MFS Variable Insurance Trust II is incorporated by reference to Post Effective Amendment No. 5 to the Registration Statement on Form N-4 filed April 13, 2017 (File No. 333-194044).
(aa)	Participation Agreement with Prudential Series Fund is incorporated by reference to Initial Registration Statement on Form N-4 filed on April 16, 1997 (File No. 333-25289); amendment to Participation Agreement with Prudential Series Fund is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333-147743).
(bb)	Participation Agreement with Van Eck Worldwide Insurance Trust is incorporated by reference to Post- Effective Amendment No. 1 on Form N-4 filed on April 21, 2009 (File No. 333-147743); amendment to Participation Agreement with Van Eck Worldwide Insurance Trust is incorporated by reference to Post-Effective Amendment No. 4 to the Registration Statement on Form N-4 filed on April 16, 2010 (File No. 333-147743).
(cc)	Participation Agreement with Columbia Funds Variable Insurance Trust is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549); Participation Agreement with Columbia Funds Variable Insurance Trust I is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549).

C-5

	(dd)	Participation Agreement with JPMorgan Insurance Trust is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549).
	(ee)	Participation Agreement with Lazard Retirement Series is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549). Amendment to Participation Agreement with PIMCO is incorporated by reference to Variable Annuity-2 Series Account’s Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, filed December 19, 2011 (File No. 333-176926).
	(ff)	Participation Agreement with Sentinel Variable Products Trust is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549).
	(gg)	Participation Agreement with Touchstone Variable Series Trust is incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement filed by Variable Annuity-1 Series Account on Form N-4 on April 16, 2010 (File No. 811-07549). Amendment to Participation Agreement with Touchstone Variable Series Trust is incorporated by reference to Post Effective Amendment No. 6 to the Registration Statement on Form N-4 filed October 26, 2017 (File No.333-194044). Amendment to Participation Agreement with Touchstone Variable Series Trust is incorporated by reference to Post Effective Amendment No. 6 to the Registration Statement on Form N-4 filed October 26, 2017 (File No. 333-194044).
	(hh)	Participation Agreement with Putnam Variable Trust and amendment thereto is incorporated by reference to Variable Annuity-2 Series Account’s Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, filed December 30, 2011 (File No. 333-176926).
	(ii)	Form of SEC Rule 22c-2 Shareholder Information Amendment is incorporated by reference to initial Registration Statement on Form N-4 filed on November 30, 2007 (File No. 333-147743).
(9)	Opinion of counsel and consent is incorporated by reference to the Registrant's Pre-Effective Amendment No. 1 to the Registration Statement, filed on May 22, 2014 (File No. 333-194044).
(10)	(a)	Written Consent of Carlton Fields, P.A. is filed herewith.
	(b)	Written Consents of Deloitte & Touche LLP is filed herewith.
(11)	Not Applicable.
(12)	Not Applicable.
(13)	Powers of Attorney for Directors Alazraki, Bernbach, A. Desmarais, P. Desmarais, Jr., Katz, Orr, Ryan, Jr., Selitto, and Walsh are filed herewith.

Item 25. Directors and Officers of the Depositor

Name	Principal Business Address	Positions and Offices with Depositor
R.J. Orr	(3)	Chairman of the Board
M.D. Alazraki	Manatt, Phelps & Phillips, LLP 7 Times Square, 23rd Floor New York, NY 10036	Director
J.L. Bernbach	32 East 57th Street, 10th Floor New York, New York 10022	Director
A.R. Desmarais	(3)	Director
P.G. Desmarais, Jr.	(3)	Director
S.Z. Katz	Fried Frank Harris Shriver & Jacobson 400 E. 57th Street, 19-E New York, NY 10022	Director

C-6

Name	Principal Business Address	Positions and Offices with Depositor
T.T. Ryan, Jr.	JP Morgan Chase 270 Park Avenue, Floor 47 New York, NY 10017	Director
J.J. Selitto	437 West Chestnut Hill Avenue Philadelphia, PA 19118	Director
B.E. Walsh	Saguenay Capital, LLC The Centre at Purchase Two Manhattanville Road, Suite 403 Purchase, NY 10577	Director
A.S. Bolotin	(1)	President and Chief Executive Officer
R.K. Shaw	(1)	President, Individual Markets
Scott C. Sipple	(1)	President, Great-West Investments
J.F. Bevacqua	(1)	Chief Risk Officer
E.P. Friesen	(1)	Chief Investment Officer, General Account
J.W. Knight	(1)	Senior Vice President and Chief Technology Officer
D.G. Peterson	(1)	Chief Information Security Officer
K.I. Schindler	(2)	Chief Compliance Officer
R.G. Schultz	(2)	General Counsel, Chief Legal Officer, and Secretary
W.J. McDermott	(1)	Senior Vice President, Empower Large/Mega/Not-for-Profit
D.G. McLeod	(1)	Senior Vice President, Products
D.A. Morrison	(1)	Senior Vice President, Government Markets
J.M. Smolen	(1)	Senior Vice President, Empower Core Market
C.E. Waddell	(1)	Senior Vice President, Retirement Solutions
M.B. Harger	(1)	Vice President, Empower Client Services
T.E. Homenuik	(1)	Vice President and Corporate Actuary
S.M. Gile	(1)	Vice President, Individual Markets
J. Nyhouse	(1)	Vice President, Internal Audit
K.S. Roe	(1)	Vice President, Treasurer and Principal Accounting Officer
F. Peurye	(1)	Vice President, Taxation
R.L. Logsdon	(2)	Associate General Counsel & Associate Secretary
B.R. Hudson	(2)	Senior Counsel and Assistant Secretary
D.C. Larsen	(2)	Senior Counsel and Assistant Secretary
K.S. Noble	(2)	Secretary, Audit Committee

(1)    8515 East Orchard Road, Greenwood Village, Colorado 80111.

(2)    8525 East Orchard Road, Greenwood Village, Colorado 80111.

(3)    Power Financial Corporation, 751 Victoria Square, Montreal, Quebec, Canada H2Y 2J3.

Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant as of December 31, 2018

The Registrant is a separate account of Great-West Life & Annuity Insurance Company of New York, a stock life insurance company incorporated under the laws of the State of New York (“Depositor”). The Depositor is an indirect subsidiary of Power Corporation of Canada. An organizational chart for Power Corporation of Canada is set forth below.

C-7

Organizational Chart – December 31, 2018

I. OWNERSHIP OF POWER CORPORATION OF CANADA

The following sets out the ownership, based on votes attached to the outstanding voting shares, of Power Corporation of Canada:

The Desmarais Family Residuary Trust
	99.999% - Pansolo Holding Inc.
		59.11% - Power Corporation of Canada
			The total voting rights of Power Corporation of Canada (PCC) controlled directly and indirectly by the Desmarais Family Residuary Trust are as follows. There are issued and outstanding as of December 31, 2018 417,101,146 Subordinate Voting Shares (SVS) of PCC carrying one vote per share and 48,854,772 Participating Preferred Shares (PPS) carrying 10 votes per share; hence the total voting rights are 905,648,866.
			Pansolo Holding Inc. owns directly and indirectly 48,363,392 SVS and 48,697,962 PPS, entitling Pansolo Holding Inc. to an aggregate percentage of voting rights of 535,343,012 or 59.11% of the total voting rights attached to the shares of PCC.

II. OWNERSHIP BY POWER CORPORATION OF CANADA

Power Corporation of Canada has a voting interest in the following entities:

A. Great-West Life & Annuity Insurance Company Group of Companies(U.S. insurance)

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		65.515% - Power Financial Corporation
			67.788% - Great-West Lifeco Inc.
				100.0% - Great-West Financial (Canada) Inc.
					100.0% - Great-West Financial (Nova Scotia) Co.
						100.0% - Great-West Lifeco U.S. LLC
							100.0% - Great-West Services Singapore I Private Limited
								100.0% - Great-West Services Singapore II Private Limited
									99.0% - Great West Global Business Services India Private Limited (1% owned by Great-West Services Singapore I Private Limited)
								1.0% - Great West Global Business Services India Private Limited (99% owned by Great-West Services Singapore II Private Limited)
							100.0% - GWL&A Financial Inc.
								60.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co. (40% owned by Great-West Life & Annuity Insurance Capital, LP)
									40.0% - Great-West Life & Annuity Insurance Capital, LLC (60% owned by GWL&A Financial Inc.)
								60.0% - Great-West Life & Annuity Insurance Capital, LLC (40% owned by Great-West Life & Annuity Insurance Capital (Nova Scotia) Co.)
								100.0% - Great-West Life & Annuity Insurance Company (Fed ID # 84-0467907 - NAIC # 68322, CO)

C-8

100.0% - Great-West Life & Annuity Insurance Company of New York (Fed ID # 13-2690792 - NAIC # 79359, NY)

100.0% - Advised Assets Group, LLC

100.0% - GWFS Equities, Inc.

100.0% - Great-West Life & Annuity Insurance Company of South Carolina

100.0% - Emjay Corporation

100.0% - FASCore, LLC

100.0% - Great-West Capital Management, LLC

100.0% - Great-West Trust Company, LLC

100.0% - Lottery Receivable Company One LLC

100.0% - LR Company II, L.L.C.

100.0% - Singer Collateral Trust IV

100.0% - Great-West Financial Retirement Plan Services, LLC

100.0% - Empower Insurance Agency, LLC

B. Putnam Investments Group of Companies(Mutual Funds)

Power Corporation of Canada

100.0% - 171263 Canada Inc.

65.515% - Power Financial Corporation

67.788% - Great-West Lifeco Inc.

100.0% - Great-West Life & Annuity Insurance Capital, LLC II

100.0% - Great-West Financial (Canada) Inc.

100.0% - Great-West Financial (Nova Scotia) Co.

100% - Great-West Lifeco U.S. LLC

99.0% - Great-West Lifeco U.S. Holdings, L.P. (1% owned by Great-West Lifeco U.S. Holdings, LLC)

100.0% - Great-West Lifeco U.S. Holdings, LLC

1% - Great-West Lifeco U.S. Holdings, L.P. (99% owned by Great-West Lifeco U.S. LLC)

100.0% - Putnam Investments, LLC

100.0% - Putnam Acquisition Financing, Inc.

100.0% - Putnam Acquisition Financing LLC

100.0% - Putnam U.S. Holdings I, LLC

20.0% - PanAgora Asset Management, Inc (80% owned by PanAgora Holdings, Inc.)

100.0% - Putnam Investment Management, LLC

100.0% - Putnam Fiduciary Trust Company

100.0% - Putnam Investor Services, Inc.

100.0% - Putnam Retail Management GP, Inc.

1.0% - Putnam Retail Management Limited Partnership (99% owned by Putnam U.S. Holdings I, LLC)

99.0% - Putnam Retail Management Limited Partnership (1% owned by Putnam Retail Management GP, Inc.)

100.0% - PanAgora Holdings, Inc.

80.00% - PanAgora Asset Management, Inc. (20.0% owned by Putnam U.S. Holdings I, LLC)

100.0% - Putnam Investment Holdings, L.L.C.

100.0% - Savings Investments, LLC

100.0% - Putnam Capital, LLC

100.0% - The Putnam Advisory Holdings II, LLC

100.0% - Putnam Investments (Ireland) Limited

100.0% - Putnam Investments Australia Pty Limited

C-9

	100.0% - Putnam Investments Securities Co., Ltd.
	100.0% - Putnam International Distributors, Ltd.
		100.0% - Putnam Investments Argentina S.A.
	100.0% - Putnam Investments Limited
	100.0% - The Putnam Advisory Company, LLC
100.0% - Putnam Advisory Holdings, LLC
	100.0% - Putnam Investments Canada ULC

C. The Great-West Life Assurance Company Group of Companies (Canadian insurance)

Power Corporation of Canada

100.0% - 171263 Canada Inc.

65.515% - Power Financial Corporation

67.788% - Great-West Lifeco Inc.

100.0% - 2142540 Ontario Inc.

1.0% - Great-West Lifeco Finance (Delaware) LP (99.0% owned by Great-West Lifeco Inc.)

40.0% - Great-West Lifeco Finance (Delaware) LLC (60.0% owned by The Great-West Life Assurance Company)

100.0% - Great-West Lifeco Finance 2017 I, LLC

100.0% - 2023308 Ontario Inc.

1.0% - Great-West Life & Annuity Insurance Capital, LP (99.0% owned by Great-West Lifeco Inc.)

40.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co. (60.0% owned by GWL&A Financial Inc.)

40.0% - Great-West Life & Annuity Insurance Capital, LLC (60.0% owned by GWL&A Financial Inc.)

40.0% - Great-West Life & Annuity Insurance Capital (Nova Scotia) Co. II (60.0% owned by GWL&A Financial Inc.)

40.0% - Great-West Life & Annuity Insurance Capital, LLC II (60.0% owned by GWL&A Financial Inc.)

100.0% - 2171866 Ontario Inc

100.0% - 2619747 Ontario Inc

1.0% - Great-West Lifeco Finance 2018, LP (99.0% owned by Great-West Lifeco Inc.)

100.0% - Great-West Lifeco Finance 2018, LLC

100.0% - Great-West Lifeco Finance 2018 II, LLC

99.0% - Great West Lifeco Finance 2018, LP (1.0% owned by 2619747 Ontario Inc.)

100.0% - 6109756 Canada Inc.

100.0% - 6922023 Canada Inc.

100.0% - 8563993 Canada Inc.

100.0% - 9855297 Canada Inc.

100.0% - The Great-West Life Assurance Company (NAIC #80705, MI)

29.4% - GWL THL Private Equity I Inc. (11.8% owned by The Canada Life Assurance Company, 58.8% owned by The Canada Life Insurance Company of Canada)

100.0% - GWL THL Private Equity II Inc.

23.0% - Great-West Investors Holdco Inc. (22% owned by The Canada Life Assurance Company, 55% owned by The Great-West Life Assurance Company)

100.0% - Great-West Investors LLC

100.0% - Great-West Investors LP Inc.

C-10

					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100.0% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% owned by Great-West Investors LP Inc.)
							100.0% - T.H. Lee Interests
	100.0% - GWL Realty Advisors Inc.
			100.0% - GWL Realty Advisors U.S., Inc.
				100.0% - EverWest Property Management, LLC
					100.0% - EverWest Property Services of Arizona, LLC
				100.0% EverWest Real Estate Investors, LLC
				100.0% EverWest Advisors, LLC
					100.0% EverWest Advisors AZ, LLC
					100.0% EW Manager LLC
			100.0% - RA Real Estate Inc.
				0.1% - RMA Real Estate LP (69.9% owned by The Great-West Life Assurance Company, 30.0% owned by London Life Insurance Company)
					100% - RMA Properties Ltd.
					100% - RMA Properties (Riverside) Ltd.
					100% - S-8025 Holdings Ltd.
	100.0% - Vertica Resident Services Inc.
	100.0% - 2278372 Ontario Inc.
12.5% - 555 Robson Holding Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - GLC Asset Management Group Ltd.
100.0% - 200 Graham Ltd.
100.0% - 801611 Ontario Limited
100.0% - 1213763 Ontario Inc.
	99.99% - Riverside II Limited Partnership (0.01% owned by 2024071 Ontario Limited)
70.0% - Kings Cross Shopping Centre Ltd. (30% owned by London Life Insurance Company)
100.0% - 681348 Alberta Ltd.
50.0% - 3352200 Canada Inc.
100.0% - 1420731 Ontario Limited
60.0% - Great-West Lifeco Finance (Delaware) LLC (40.0% owned by Great-West Lifeco Finance (Delaware) LP)
100.0% - 1455250 Ontario Limited
100.0% - CGWLL Inc.
100.0% - 2020917 Alberta Ltd.
55.0% - Great-West Investor Holdco Inc. (23% owned by GWL THL Private Equity I Inc., 22% owned by The Canada Life Assurance Company)
26.0% - 2148902 Alberta Ltd. (53% owned by London Life Insurance Company, 16% owned by The Canada Life Insurance Company of Canada and 5% owned by The Canada Life Assurance Company)
20.0% - 2157113 Alberta Ltd. (40% owned by London Life Insurance Company, 30% owned by The Canada Life Insurance Company of Canada and 10% owned by The Canada Life Assurance Company)
65.0% - The Walmer Road Limited Partnership (35.0% owned by London Life Insurance Company)
50.0% - Laurier House Apartments Limited (50.0% owned by London Life Insurance Company)
50.0% - Marine Promenade Properties Inc. (50.0% owned by London Life Insurance Company)
100.0% - 2024071 Ontario Limited
	100.0% - 431687 Ontario Limited
		0.01% - Riverside II Limited Partnership (99.99% owned by 1213763 Ontario Inc.)
100.0% - High Park Bayview Inc.

C-11

		0.001% - High Park Bayview Limited Partnership
75.0% - High Park Bayview Limited Partnership (25.0% owned by London Life Insurance Company)
5.6% - MAM Holdings Inc. (94.4% owned by The Canada Life Insurance Company of Canada)
		100% - Mountain Asset Management LLC
70.0% - TGS North American Real Estate Investment Trust (30% owned by London Life Insurance Company)
		100.0% - TGS Trust
70.0% - RMA Realty Holdings Corporation Ltd. (30.0% owned by London Life Insurance Company)
		100.0% - 1995709 Alberta Ltd.
		100.0% - RMA (U.S.) Realty LLC (Delaware) (special shares held by 1995709 Alberta Ltd.
			100.0% - RMA American Realty Corp.
				1% - RMA American Realty Limited Partnership ((99% owned by RMA (U.S.) Realty LLC (Delaware))
			99.0% - RMA American Realty Limited Partnership (1% owned by RMA American Realty Corp.)
		69.9% - RMA Real Estate LP (30.0% owned by London Life Insurance Company; 0.1% owned by RA Real Estate Inc.)
			100.0% - RMA Properties Ltd.
			100.0% - S-8025 Holdings Ltd.
			100.0% - RMA Properties (Riverside) Ltd.
70.0% - KS Village (Millstream) Inc. (30.0% owned by London Life Insurance Company)
70.0% - 0726861 B.C. Ltd. (30.0% owned by London Life Insurance Company)
70.0% - Trop Beau Developments Limited (30.0% owned by London Life Insurance Company)
70.0% - Kelowna Central Park Properties Ltd. (30.0% owned by London Life Insurance Company)
70.0% - Kelowna Central Park Phase II Properties Ltd. (30.0% owned by London Life Insurance Company)
12.5% - Vaudreuil Shopping Centres Limited (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
70.0% - Saskatoon West Shopping Centres Limited (30.0% owned by London Life Insurance Company)
12.5% - 2331777 Ontario Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 2344701 Ontario Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 2356720 Ontario Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 0977221 B.C. Ltd. (75.0% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
12.5% - 555 Robson Holding Ltd. ((75% owned by London Life Insurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - 7419521 Manitoba Ltd.
		0.04% - 7420928 Manitoba Limited Partnership (24.99% owned each by The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company and The Canada Life Insurance Company of Canada)
			100.0% - 7419539 Manitoba Ltd.
100.0% - London Insurance Group Inc.
	100.0% - Trivest Insurance Network Limited
	100.0% - London Life Insurance Company (Fed ID # 52-1548741– NAIC # 83550, MI)
			100.0% - 1542775 Alberta Ltd.
			100.0% - 0813212 B.C. Ltd.
			30.0% - Kings Cross Shopping Centre Ltd. (70% owned by The Great-West Life Assurance Company)
			30.0% - 0726861 B.C. Ltd. (70% owned by The Great-West Life Assurance Company)
			30.0% - TGS North American Real Estate Investment Trust (70% owned by The Great-West Life Assurance Company)
					100.0% - TGS Trust
			30.0% - RMA Realty Holdings Corporation Ltd. (70% owned by The Great-West Life Assurance Company)
					100.0% - 1995709 Alberta Ltd.
					100.0% - RMA (U.S.) Realty LLC (Delaware) (special shares held by 1995709 Alberta Ltd.)
						100.0% - RMA American Realty Corp.
							1.0% - RMA American Realty Limited Partnership ((99% owned by RMA (U.S.) Realty LLC (Delaware))
						99.0% - RMA American Realty Limited Partnership (1% owned by RMA American Realty Corp.)

C-12

30.0% - RMA Real Estate LP (69.9% owned by The Great-West Life Assurance Company; 0.1% owned by RA Real Estate Inc.)
	100.0% - RMA Properties Ltd.
	100.0% - S-8025 Holdings Ltd.
	100.0% - RMA Properties (Riverside) Ltd.
100.0% - 1319399 Ontario Inc.
24.99% - 7420928 Manitoba Limited Partnership (24.99% limited partner interest each held by The Great-West Life Assurance Company, The Canada Life Assurance Company and The Canada Life Insurance Company of Canada; 7419521 Manitoba Ltd. holds 0.04% interest)
50.0% - Laurier House Apartments Limited (50.0% owned by The Great-West Life Assurance Company)
50.0% - Marine Promenade Properties Inc. (50.0% owned by The Great-West Life Assurance Company)
30.0% - Kelowna Central Park Properties Ltd. (70.0% owned by The Great-West Life Assurance Company)
30.0% - Kelowna Central Park Phase II Properties Ltd. (70.0% owned by The Great-West Life Assurance Company)
30.0% - Trop Beau Developments Limited (70.0% owned by The Great-West Life Assurance Company)
53.0% - 2148902 Alberta Ltd. (26% owned by the Great-West Life & Annuity Insurance Company, 16% owned by the Canada Life Insurance Company of Canada and 5% owned by the Canada Life Assurance Company)
40.0% - 2157113 Alberta Ltd. (20% owned by the Great-West Life & Annuity Insurance Company, 30% owned by the Canada Life Insurance Company of Canada and 10% owned by the Canada Life Assurance Company)
100.0% - 4298098 Canada Inc.
100.0% - GWLC Holdings Inc.
	100% - GLC Reinsurance Corporation
100.0% - 389288 B.C. Ltd.
100.0% - Quadrus Investment Services Ltd.
35.0% - The Walmer Road Limited Partnership (65.0% owned by The Great-West Life Assurance Company)
88.0% - Neighborhood Dental Services Ltd.
100.0% - Quadrus Distribution Services Ltd.
100.0% - Toronto College Park Ltd.
25.0% - High Park Bayview Limited Partnership (75.0% owned by The Great-West Life Assurance Company)
30.0% - KS Village (Millstream) Inc. (70.0% owned by The Great-West Life Assurance Company)
100.0% - London Life Financial Corporation
	73.57% - London Reinsurance Group, Inc. (26.43% owned by London Life Insurance Company)
		100.0% - London Life and Casualty Reinsurance Corporation
			100.0% - Trabaja Reinsurance Company Ltd.
			100.0% - London Life and Casualty (Barbados) Corporation
		100.0% - LRG (US), Inc.
			100.0% - London Life International Reinsurance Corporation
			100.0% - London Life Reinsurance Company (Fed ID # 23-2044256 – NAIC # 76694, PA)
75.0% - Vaudreuil Shopping Centres Limited (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
26.43% - London Reinsurance Group Inc. (73.57% owned by London Life Financial Corporation)
30.0% - Saskatoon West Shopping Centres Limited (70.0% owned by The Great-West Life Assurance Company)
75.0% - 2331777 Ontario Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
75.0% - 2344701 Ontario Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
75.0% - 2356720 Ontario Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
75.0% - 0977221 B.C. Ltd. (12.5% owned by The Great-West Life Assurance Company, 12.5% owned by The Canada Life Insurance Company of Canada)
100.0% - Financial Horizons Group Inc.
	100.0% - Financial Horizons Incorporated
		100.0% - 9099-1696 Quebec Inc.

C-13

			100.0% - Continuum Financial Centres Inc.
			100.0% - Excel Private Wealth Inc.
			100.0% - Odyssey Financial Group Inc./Groupe Odyssee Inc.
			100.0% - Henderson GP ULC
					0.01% - Henderson Structured Settlements LP (99.9% held by Financial Horizons Incorporated)
			99.9% - Henderson Structures Settlements LP (0.01% held by Henderson GP ULC)
100.0% - Canada Life Financial Corporation
		100.0% - The Canada Life Assurance Company (Fed ID # 38-0397420, NAIC # 80659, MI)
	24.99% - 7420928 Manitoba Limited Partnership (24.99% limited partner interest held by The Great-West Life Assurance Company, London Life Insurance Company and the Canada Life Insurance Company of Canada; 7419521 Manitoba Ltd. holds 0.04% interest)
	5.0% - 2148902 Alberta Ltd. (53% owned by London Life Insurance Company, 26% by The Great-West Life Assurance Company and 16% by The Canada Life Insurance Company of Canada)
	10.0% - 2157113 Alberta Ltd. (40% owned by London Life Insurance Company, 20% by The Great-West Life Assurance Company and 30% by The Canada Life Insurance Company of Canada)
	100.0% - Canada Life Capital Corporation, Inc.
		100.0% - Canada Life International Holdings Limited
			100.0% - Canada Life Annuity Reinsurance (Barbados) Corporation
			100.0% - Canada Life Group Holdings Limited
			100.0% - Canada Life International Services Limited
			100.0% - Canada Life International Limited
				100.0% - CLI Institutional Limited
			100.0% - Canada Life Reinsurance International Ltd.
			100.0% - Canada Life Reinsurance Ltd.
			100.0% - The Canada Life Group (U.K.) Limited
				80.0% - Canada Life International Assurance (Ireland) Designated Activity Company (20.0% owned by CL Abbey Limited)
				100.0% - Canada Life Irish Holding Company Limited
						100.0% - Canada Life Group Services Limited
						100.0% - Canada Life Europe Investment Limited
							100.0% - Canada Life Europe Management Services Limited
								21.33% - Canada Life Assurance Europe Limited (78.67% owned by Canada Life Europe Investment Limited)
							78.67% - Canada Life Assurance Europe Limited (21.33% owned by Canada Life Europe Management Services Limited)
				100.0% - London Life and General Reinsurance dac
						100.0% - Canada Life Dublin dac
				100.0% -CL Abbey Limited
						20.0% - Canada Life International Assurance (Ireland) Designated Activity Company (80.0% owned by The Canada Life Group (U.K.) Limited)
				100.0% - Irish Life Investment Managers Limited
						100.0% - Summit Asset Managers Limited
							7.0% - Irish Association of Investment Managers CLG
				100.0% - Setanta Asset Management Limited
				100.0% - Canada Life Pension Managers & Trustees Limited
				100.0% - Canada Life Asset Management Limited
				100.0% - Canada Life European Real Estate Limited
						100.0% - Hotel Operations (Walsall) Limited
						100.0% - Hotel Operations (Cardiff) Limited
				100.0% - Canada Life Trustee Services (U.K.) Limited

C-14

100.0% - CLFIS (U.K.) Limited
100.0% - MGM Advantage Holdings Limited
100.0% - Stonehaven UK Limited
100.0% - MGM Advantage Services Limited
100.0% - MGM Advantage Life Limited
		100.0% - MGM Advantage Life Trustee Limited
100.0% - Canada Life Limited
	26.0% - ETC Hobley Drive Management Company Limited
	100.0% - Synergy Sunrise (Wellington Row) Limited
	76.0% - Radial Park Management Limited
	100.0% - Canada Life (U.K.) Limited
			100.0% - Albany Life Assurance Company Limited
			100.0% - Canada Life Management (U.K.) Limited
			100.0% - Canada Life Services (U.K.) Limited
			100.0% - Canada Life Fund Managers (U.K.) Limited
			100.0% - Canada Life Group Services (U.K.) Limited
			100.0% - Canada Life Holdings (U.K.) Limited
	100.0% - Canada Life Irish Operations Limited
			100.0% - Canada Life Ireland Holdings Limited.
	100.0% - Irish Life Group Limited
			100.0% - Irish Life Health dac
			100.0% - Irish Progressive Services International Ltd
			100.0% - Irish Life Group Services Limited
			100.0% - Irish Life Financial Services Ltd.
			100.0% - Glohealth Financial Services Limited
			49.0% - Affinity First Limited (51.0% interest unknown)
			100.0% - Vestone Ltd.
						100.0% - Cornmarket Group Financial Services Limited
						100.0% - Cornmarket Insurance Services Limited
							25.0% EIS Financial Services Limited (75.0% interest unknown)
						100.0% - Cornmarket Retail Trading Ltd.
						100.0% - Penpro Limited
			100.0% - Irish Life Associate Holdings Unlimited Company
				100.0% - Irish Life Irish Holdings Unlimited Company
			75.0% - 1939 ILIV Consulting Limited
				100.0% - Invesco Limited
					100.0% - Invesco Trustee DAC
					100.0% - ILP Pension Trustees DAC
			100.0% - Irish Life Assurance plc.
				100.0% - Ilona Financial Group, Inc.
				100.0% - Irish Life Trustee Services Limited
				100.0% - Office Park De Mont-St-Guibert A S.A.
				100.0% - Office Park De Mont-St-Guibert B S.A.
				100.0% - Office Park De Mont-St-Guibert C S.A.
				100.0% - Stephen Court Limited
				100.0% - Tredwell Associates Limited
				100.0% - (2,3&4) Basement Company Limited

C-15

								66.66% - City Gate Park Administration Limited
								51.0% - SJRQ Riverside IV Management Company Ltd.
								50.0% - Hollins Clough Management Company Ltd.
								50.0% - Dakline Company Ltd.
								20.0% - Choralli Limited
								14.0% - Baggot Court Management Limited
								5.5% - Padamul Ltd.
								18.2143% - Tour Esplanade (Paris) LP
	100.0% - 4073649 Canada, Inc.
		100.0% - CL Luxembourg Capital Management S.á.r.l.
		100.0% - Canada Life France (U.K.) Limited
	100.0% - 8478163 Canada Limited
		100.0% - Canada Life Capital Bermuda Limited
	100.0% - 9983813 Canada Inc.
		100.0% - Canada Life Capital Bermuda III Limited
	100.0% - Canada Life Capital Bermuda II Limited
22.0% - Great-West Investors Holdco Inc. (23% owned by GWL THL I Private Equity I Inc., 55% owned by The Great-West Life Assurance Company)
	100.0% - CL 22 Chapel GP Inc.
		0.001% - CL 22 Chapel LP (99.99% owned by The Canada Life Assurance Company)
	99.99% - CL 22 Chapel GP (0.001%owned by CL 22 Chapel GP Inc.)
100.0% - The Canada Life Insurance Company of Canada
	24.99% - 7420928 Manitoba limited Partnership (24.99% limited partner interest held by The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company; 7419521 Manitoba Ltd. holds 0.04% interest)
	100.0% - 6855572 Manitoba Ltd.
	94.4% - MAM Holdings Inc. (5.6% owned by The Great-West Life Assurance Company)
		100.0% - Mountain Asset Management LLC
	12.5% - 2331777 Ontario Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 2344701 Ontario Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - Vaudreuil Shopping Centres Limited (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 2356720 Ontario Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 0977221 B.C. Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	12.5% - 555 Robson Holding Ltd. (75% owned by London Life Insurance Company, 12.5% owned by The Great-West Life Assurance Company)
	58.8% - GWL THL Private Equity I Inc. (11.8% The Canada Life Assurance Company, 29.4% The Great-West Life Assurance Company)
		100.0% - GWL THL Private Equity II Inc.
	16.0% - 2148902 Alberta Ltd. (53% owned by London Life Insurance Company, 26% by The Great-West Life Assurance Company and 5% by The Canada Life Assurance Company)
	30.0% - 2157113 Alberta Ltd (40% owned by London Life Insurance Company, 20% by The Great-West Life Assurance Company and 10% by The Canada Life Assurance Company)
		100.0% - Great-West Investors Holdco Inc.
			100.0% - Great-West Investors LLC
				100.0% - Great-West Investors LP Inc.
					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100.0% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% Great-West Investors LP Inc.)
							100.0% - T.H. Lee Interests

C-16

100.0% - CL Capital Management (Canada), Inc.
100.0% - 587443 Ontario Inc.
100.0% - Canada Life Mortgage Services Ltd.
11.8% - GWL THL Private Equity I Inc. (29.4% owned by The Great-West Life Assurance Company, 58.8% owned by The Canada Life Insurance Company of Canada)
	100.0% - GWL THL Private Equity II Inc.
	100.0% - Great-West Investors Holdco Inc.
			100.0% - Great-West Investors LLC
				100.0% - Great-West Investors LP Inc.
					99.0% - Great-West Investors LP (1.0% owned by Great-West Investors GP Inc.)
						100% - T.H. Lee Interests
					100.0% - Great-West Investors GP Inc.
						1.0% - Great-West Investors LP (99.0% Great-West Investors LP Inc.)
							100.0% - T.H. Lee Interests
100.0% - Canada Life Capital Trust
100.0% - Great-West US RE Holdings, Inc.
	100.0% - CL Burlingame, LLC
		10.0% - PGEW Burlingame, LLC
			100.0% - EW PG – Airport Owner, LLC

D. IGM Financial Inc. Group of Companies(Canadian mutual funds)

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		65.515% - Power Financial Corporation
			61.412% - IGM Financial Inc. (direct and indirect 65.246%)
				100.0% - Investors Group Inc.
						100.0% - Investors Group Financial Services Inc.
						100.0% - I.G. International Management Limited
							100.0% - I.G. Investment Management (Hong Kong) Limited
						100.0% - Investors Group Trust Co. Ltd.
						100.0% - I.G. Insurance Services Inc.
						100.0% - Investors Syndicate Limited
						100.0% - Investors Group Securities Inc.
						100.0% - 6460675 Manitoba Ltd.
						100.0% - I.G. Investment Management, Ltd.
							100.0% - Investors Group Corporate Class Inc.
							100.0% - Investors Syndicate Property Corp.
							100.0% - 0992480 B.C. Ltd.
							100.0% - 1081605 B.C. Ltd.
							100.0% - I.G. Investment Corp.
							100.0% - 10206903 Canada Inc.
				100.0% - Mackenzie Inc.
					100.0% - Mackenzie Financial Corporation
						100.0% - Mackenzie Investments Charitable Foundation
						14.28% - Strategic Charitable Giving Foundation
						100.0% - Mackenzie Cundill Investment Management (Bermuda) Ltd.

C-17

		100.0% - Mackenzie Financial Capital Corporation
		100.0% - Multi-Class Investment Corp.
		100.0% - MMLP GP Inc.
		100.0% - Mackenzie Investments Corporation
		100.0% - Mackenzie U.S. Fund Management Inc.
		100.0% - MGELS Fund Management (Canada) Ltd.
		13.9% - China Asset Management Co., Ltd.
		100.0% - MGELS Fund Management (Cayman) Ltd.
		100.0% - MGELS Investments Limited
		100.0% - MEMLS Fund Management (Cayman) Ltd.
		100.0% - Mackenzie EM Funds Management (Cayman) Ltd.
100.0% - Investment Planning Counsel Inc.
		100.0% - IPC Investment Corporation
		100.0% - IPC Estate Services Inc.
		100.0% - IPC Securities Corporation
			100.0% - Counsel Portfolio Services Inc.
				100.0% - Counsel Portfolio Corporation
18.5% - Portag3 Ventures LP
	26.79% - Springboard LP
53.0% - Springboard LP
	83.2% - WealthSimple Financial Corp.
29.3% - Springboard II LP
19.8% - Personal Capital Corporation
33.3% - Portag3 Ventures II Affiliates LP
	46.96% - Portag3 ventures II LP

E. Pargesa Holding SA Group of Companies(European investments)

Power Corporation of Canada
	100.0% - 171263 Canada Inc.
		65.515% - Power Financial Corporation
			100.0% - Power Financial Europe B.V.
				50.0% - Parjointco N.V.
					75.4% - Pargesa Holding SA (55.5% capital)
						100.0% - Pargesa Netherlands B.V.
							100.0% - SFPG
							50.83% (taking into account the treasury shares - Groupe Bruxelles Lambert (50.0% in capital)
								Capital
								11.8% - Pernod Ricard (7.5% in capital)
								17.6% - Umicore
								19.8% - Ontex
								0.4% - LTI One SA
								96.5% - FINPAR II SA
										0.1% - Groupe Bruxelles Lambert
										0.1% - Ontex
								90.2% - FINPAR III SA
									0.1% - Groupe Bruxelles Lamber

C-18

		0.1% - GEA
1.2% - Sagerpar SA
100.0% - Belgian Securities BV
			Capital
				67.5% - Imerys (53.8% in capital)
	100.0% - Brussels Securities SA
			Capital
					99.6% - LTI One SA
							0.1% - Groupe Bruxelles Lambert
					100.0% - LTI Two SA
							0.1% - Groupe Bruxelles Lambert
							0.1% - Umicore
					100.0% - URDAC SA
							0.1% - Groupe Bruxelles Lambert
					100.0% - FINPAR SA
							0.1% - Groupe Bruxelles Lambert
					98.8% - Sagerpar SA
							1.0% - Groupe Bruxelles Lambert
					10.0% - GBL Participations SA
					10.0% - Brussels Advisors SA
	100.0% - GBL O
	90.0% - GBL Participations SA
	90.0% - Brussels Advisors SA
	100.0% - GBL Advisors Limited
			5.4% - FINPAR III SA
	100.0% - GBL Development Limited
	100.0% - GBL Verwaltung SA.
			Capital
					100.0% - GBL Investments Limited
					100.0% - GBL R S.á.r.l.
					100.0% - GBL Energy S.á.r.l.
						Capital
						1.24% - Total (0.6% in capital)
					100.0% - Serena S.á.r.l.
							Capital
							16.6% - SGS
							100.0% - Eliott Capital S.á.r.l.
							Capital
							9.4% - LafargeHolcim
					100.0% - Sienna Capital S.á.r.l
							Capital
							10.8% - Sagard FCPR
							0.3% - Sagard II A FPCI
							75.0% - Sagard II B FPCI
							26.9% - Sagard 3 Millésime 1 FPCI
							29.6% - Kartesia Credit Opportunities III SCA, SICAV-SIF
							17.2% - Kartesia Credit Opportunities IV SCS

C-19

	22.2% - Kartesia Management SA
	50.0% - Ergon Capital Partners SA
	42.4% - Ergon Capital Partners II SA
	89.9% - Ergon Capital Partners III SA
	15.1% - Mérieux Participations SAS
	37.7% - Mérieux Participations 2 SAS
	78.4% - PrimeStone Capital Fund ICAV
	1.7% - PrimeStone Capital Special Limited Partner SCSp
	9.8% - BDT Capital Partners Fund II (INT),L.P.
	48.6% - Backed 1 LP
	9.6% - Backed 1 Founder LP
	100.0% - Sienna Capital International Ltd.
	34.9% - KKR Sigma Co-Invest II L.P.
100.0% - GBL Finance S.á.r.l
100.0% - Miles Capital S.á.r.l
	Capital
	21.2% - Parques Reunidos
100.0% - Oliver Capital S.á.r.l
	Capital
	8.4% - GEA
100.0% - Theo Capital S.á.r.l
	Capital
	7.8% - adidas
100.0% - Owen Capital S.á.r.l
3.5% - FINPAR II SA
4.4% - FINPAR III SA

F. Power Corporation (International) Limited Group of Companies (Asian investments)

Power Corporation of Canada
	100.0% - Power Corporation (International) Limited
		99.9% - Power Pacific Corporation Limited
			0.1% - Power Pacific Equities Limited
		99.9% - Power Pacific Equities Limited
	100.0% - Power Communications Inc.
		0.1% - Power Pacific Corporation Limited
	13.9% - China Asset Management Limited
	100.0% - Power Pacific Investment Management Inc.
		100.0% - Sagard China Absolute Return A Share Fund (Canada) GP Inc.
			100.0% - GP interest in Sagard China Absolute Return A Share Fund (Canada) LP
		100.0% - Power Pacific Investment Management (Ireland) Limited

G. Other PCC Companies

Power Corporation of Canada
	100.0% - 152245 Canada Inc.
		100.0% - 3540529 Canada Inc.

C-20

100.0% - Square Victoria Real Estate Inc./ Square Victoria Immobilier Inc.
	100.0% - SVRE Management Inc.
	70.0% - 7 Saint-Jacques GP Inc.
		0.01% 7 Saint-Jacques Limited Partnership
	49.99% - 7 Saint-Jacques Limited Partnership
100.0% - 3121011 Canada Inc.
100.0% - 171263 Canada Inc.
100.0% - Victoria Square Ventures Inc.
		14.88% - Bellus Health Inc.
		25.0% (voting) - 9314-0093 Québec Inc. (formerly Club de Hockey Les Remparts de Québec Inc.)
		100.0% - Power Energy Corporation
			100.0% - Potentia Renewables Inc.
				64.0% - Potentia MN Solar Fund I, LLC
				75.0% - Paintearth Wind Project LP
				75.0% - Stirling Wind Project LP
				75.0% - Wheatland Wind Project LP
				100.0% - Emerald Solar Energy, SRL
				100.0% - Jenner Wind Limited Partnership
				100.0% - Power Renewable Energy Corporation
					100.0% - Sequoia Energy Inc.
					100.0% - Sequoia Energy US Inc.
				100.0% - Potentia Solar Holdings II Limited Partnership
					100.0% - Potentia Solar Holdings Limited Partnership
					100.0% - Schooltop Solar LP
					85.0% - Reliant First Nations LP
					100.0% - PSI Solar Finance 1 LP
					100.0% MOM Solar LP
					100.0% - Potentia Solar 5 LP
					100.0% - Potentia Solar 6 LP
					100.0% - Potentia Solar 7 LP
					100.0% - Potentia Solar 9 LP
					100.0% - Potentia Solar 14 LP
			100.0% - Power Energy Eagle Creek Inc.
				60.0% - Power Energy Eagle Creek LLP
					54.8% - Eagle Creek Renewable Energy, LLC
			60.51% - Lumenpulse Group Inc.
				100.0% - Lumenpulse Finance Corp.
				100.0% - Lumenpulse Lighting Corp.
					80.0% - Sternberg Lanterns, Inc.
				100.0% - Fluxwerx Illumination Inc.
				100.0% - Exenia s.r.l.
				100.0% - Lumenpulse UK Limited
					100.0% - Lumenpulse Alphaled Limited
			43.8% - The Lion Electric Company
100.0% - Power Communications Inc.
		100.0% - Brazeau River Resources Investments Inc.
100.0% - PCC Industrial (1993) Corporation

C-21

100.0% - Power Corporation International
100.0% - 9808655 Canada Inc.
	100.0% - 9958363 Canada Inc.
	100.0% - Sagard Holdings Participation US LP
			25.0% - Sagard Holdings ULC
100.0% - Sagard Holdings Participation Inc.
	100.0% - Sagard Credit Partners GP, Inc.
		100.0% - Sagard Credit Partners, LP
	100.0% - Sagard Holdings Manager GP Inc.
		100.0% - Sagard Holdings Manager LP
	100.0% - Sagard Credit Partners (Cayman) GP, Inc.
		100.0% - Sagard Credit Partners (Cayman), LP
	100.0% - Portag3 ventures II GP Inc.
		100.0% - Portage3 Ventures II LP
	75.0% - Sagard Holdings ULC
		4.0% - 1069759 B.C. Unlimited Liability Company
		17.96% - Sagard Credit Partners, LP
		100.0% - Sagard Credit Partners Carried Interest GP Inc.
				100.0% - Sagard Credit Partners Carried Interest LP
		100.0% - Sagard Capital Partners GP, Inc.
				100.0% - Sagard Capital Partners, L.P.
					22.0% - GP Strategies Corp.
					11.9% - Jaguar Health Inc.
					96.0% - 1069759 B.C. Unlimited Liability Company
						91.6 % - Integrated Fertility Holding, LLC.
		50.0% - Peak Achievement Athletics Inc. (42.58% equity)
				100.0% - 10094439 Canada Inc.
				100.0% - 10094455 Canada Inc.
					100.0% - Limited Partnership Interests in Peak Management Participation LP
					100.0% - 1167410 B.C. Unlimited Liability Company
						100.0% - General Partnership Interests in Peak Management Participation LP
							100.0% - Limited Partnership Interests in Peak Holdings LP
							100.0% - 1167387 B.C. Unlimited Liability Company
							100.0% - General Partnership Interests in Peak Holdings LP
							100.0% - Bauer Hockey Ltd.
							100.0% - Bauer Innovations Canada Ltd.
							100.0% - Bauer Hockey AB
							100.0% - Bauer Hockey GmbH
							100.0% - Performance Sports Group Hong Kong Ltd.
							100.0% - Jacmal BV
							100.0% - Bauer CR spol s.r.o.
							100.0% - BCE Acquisitions US, Inc.
							100.0% - Bauer Innovations US, LLC
							100.0% - Easton Diamond Sports, LLC
							100.0% - Bauer Hockey LLC
							100.0% - Cascade Maverik Lacrosse, LLC
							100.0% - Bauer Hockey Retail, LLC

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100.0% - Power Corporation of Canada Inc.
	100.0% - 4190297 Canada Inc.
	100.0% - Sagard Capital Partners Management Corp.
100.0% - Sagard S.A.S.
100.0% - Marquette Communications (1997) Corporation
100.0% - 4507037 Canada Inc.
100.0% - 4524781 Canada Inc.
100.0% - 4524799 Canada Inc.
100.0% - 4524802 Canada Inc.
100.0% - Squart Victoria Communications Group Inc.
	100.0% - Gesca Ltee
		100.0% Gestion Gesca Inc.
			100.0% - 10206911 Canada Inc.
			100.0% - Gesca Numerigue Inc.
				100.0% - 10206938 Canada Inc.
			100.0% - 9214470 Canada Inc.
		100.0% - 10322105 Canada Inc.
	100.0% - Square Victoria Digital Properties Inc.
		100.0% Les Editions Plus Ltee
		100.0% - 10206920 Canada Inc.
		50.0% - 1004096 Canada Inc. (“workopolis”)
100.0% - 10322091 Canada Inc.

H. Other PFC Companies

Power Financial Corporation
	100.0% - 4400003 Canada Inc.
	100.0% - 3411893 Canada Inc.
	100.0% - 3439453 Canada Inc.
	100.0% - Power Financial Capital Corporation
	100.0% - 7973594 Canada Inc.
	100.0% - 7973683 Canada Inc.
	100.0% - 7974019 Canada Inc.
	19.65% - Springboard L.P.
		83.2% - WealthSimple Financial Corp. (81.7% equity)
			100.0% - Wealthsimple Inc.
			100.0% - Canadian ShareOwner Investments Inc.
			100.0% - CSA Computing Inc.
			100.0% - Wealthsimple US, Inc.
			100.0% - Wealthsimple Technologies, Inc.
			100.0% - ShareOwner Mutual Fund Dealer Inc.
			99.96% - Wealthsimple Europe S.a.r.l
				100.0% - Wealthsimple UK Ltd.
				100.0% - Wealthsimple Germany GmbH
				100.0% - Wealthsimple Technologies Europe Ltd.
	29.3% - Springboard II LP
		63.4% - Koho Financial Inc.

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100.0% - PFC Ventures Inc.
	100.0% - Portag3 Ventures GP Inc.
		100.0% - 9194649 Canada Inc.
		100.0% - Portag3 Ventures Participation ULC
	62.9% - Portag3 Ventures L.P.
		100.0% - Portag3 International Investments Inc.
		26.79% - Springboard L.P.
		20.0% - 11066498 Canada Inc.
		20.0% - 11066510 Canada Inc.
		9.41% - Collage Inc.
		4.44% - dfuse Platform Inc. (EOS Canada Inc.)
		4.41% - Nesto Inc.
		4.22% - Breathe Life Inc.
		2.59% - Dialogue Technologies Inc.
		12.02% - Springboard II LP
		53.46% - Springboard III, LP
			68.06% - Diagram Ventures, LP
			80.0% - 11066498 Canada Inc.
			80.0% - 11066510 Canada Inc.
			40.78% - Collage Inc.
			22.97% - Nesto Inc.
			24.40% - Dialogue Technologies Inc.
			26.66% - dfuse Platform Inc. (EOS Canada Inc.)
			21.60% - Breathe Life Inc.
	33.33% - Portag3 Ventures II Affiliates L.P.
		46.96% - Portag3 ventures II L.P.
			100.00% - Portag3 Ventures II International Investments Inc.
			46.54% - Springboard III, LP.
			6.57% - Dialogue Technologies Inc.
50.0% - Diagram Ventures GP Inc. (9629262 Canada Inc.)

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Item 27. Number of Contract Owners

As of March 29, 2019, there were 149 Contract Owners; 119 were Non-Qualified Contracts and 30 were Qualified Contracts.

Item 28. Indemnification

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of 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.

Provisions exist under the laws of the State of New York and the Bylaws of Great-West of New York whereby Great-West of New York may indemnify a director, officer or controlling person of Great-West of New York against liabilities arising under the Securities Act of 1933. The following excerpts contain the substance of these provisions:

New York Business Corporation Law

Section 719. Liability of directors in certain cases

(a)	Directors of a corporation who vote for or concur in any of the following corporate actions shall be jointly and severally liable to the corporation for the benefit of its creditors or shareholders, to the extent of any injury suffered by such persons, respectively, as a result of such action:
	(1)	The declaration of any dividend or other distribution to the extent that it is contrary to the provisions of paragraphs (a) and (b) of section 510 (Dividends or other distributions in cash or property).
	(2)	The purchase of the shares of the corporation to the extent that it is contrary to the provisions of section 513 (Purchase or redemption by a corporation of its own shares).
	(3)	The distribution of assets to shareholders after dissolution of the corporation without paying or adequately providing for all known liabilities of the corporation, excluding any claims not filed by creditors within the time limit set in a notice given to creditors under articles 10 (Non-judicial dissolution) or 11 (Judicial dissolution).
	(4)	The making of any loan contrary to section 714 (Loans to directors).
(b)	A director who is present at a meeting of the board, or any committee thereof, when action specified in paragraph (a) is taken shall be presumed to have concurred in the action unless his dissent thereto shall be entered in the minutes of the meeting, or unless he shall submit his written dissent to the person acting as the secretary of the meeting before the adjournment thereof, or shall deliver or send by registered mail such dissent to the secretary of the corporation promptly after the adjournment of the meeting. Such right to dissent shall not apply to a director who voted in favor of such action. A director who is absent from a meeting of the board, or any committee thereof, when such action is taken shall be presumed to have concurred in the action unless he shall deliver or send by registered mail his dissent thereto to the secretary of the corporation or shall cause such dissent to be filed with the minutes of the proceedings of the board or committee within a reasonable time after learning of such action.
(c)	Any director against whom a claim is successfully asserted under this section shall be entitled to contribution from the other directors who voted for or concurred in the action upon which the claim is asserted.

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(d)	Directors against whom a claim is successfully asserted under this section shall be entitled, to the extent of the amounts paid by them to the corporation as a result of such claims:
	(1)	Upon payment to the corporation of any amount of an improper dividend or distribution, to be subrogated to the rights of the corporation against shareholders who received such dividend or distribution with knowledge of facts indicating that it was not authorized by section 510, in proportion to the amounts received by them respectively.
	(2)	Upon payment to the corporation of any amount of the purchase price of an improper purchase of shares, to have the corporation rescind such purchase of shares and recover for their benefit, but at their expense, the amount of such purchase price from any seller who sold such shares with knowledge of facts indicating that such purchase of shares by the corporation was not authorized by section 513.
	(3)	Upon payment to the corporation of the claim of any creditor by reason of a violation of subparagraph (a)(3), to be subrogated to the rights of the corporation against shareholders who received an improper distribution of assets.
	(4)	Upon payment to the corporation of the amount of any loan made contrary to section 714, to be subrogated to the rights of the corporation against a director who received the improper loan.
(e)	A director shall not be liable under this section if, in the circumstances, he performed his duty to the corporation under paragraph (a) of section 717.
(f)	This section shall not affect any liability otherwise imposed by law upon any director.

Section 720. Action against directors and officers for misconduct.

(a)	An action may be brought against one or more directors or officers of a corporation to procure a judgment for the following relief:
	(1)	Subject to any provision of the certificate of incorporation authorized pursuant to paragraph (b) of section 402, to compel the defendant to account for his official conduct in the following cases:
		(A)	The neglect of, or failure to perform, or other violation of his duties in the management and disposition of corporate assets committed to his charge.
		(B)	The acquisition by himself, transfer to others, loss or waste of corporate assets due to any neglect of, or failure to perform, or other violation of his duties.
		(C)	In the case of directors or officers of a benefit corporation organized under article seventeen of this chapter: (i) the failure to pursue the general public benefit purpose of a benefit corporation or any specific public benefit set forth in its certificate of incorporation; (ii) the failure by a benefit corporation to deliver or post an annual report as required by section seventeen hundred eight of article seventeen of this chapter; or (iii) the neglect of, or failure to perform, or other violation of his or her duties or standard of conduct under article seventeen of this chapter.
	(2)	To set aside an unlawful conveyance, assignment or transfer of corporate assets, where the transferee knew of its unlawfulness.
	(3)	To enjoin a proposed unlawful conveyance, assignment or transfer of corporate assets, where there is sufficient evidence that it will be made.
(b)	An action may be brought for the relief provided in this section, and in paragraph (a) of section 719 (Liability of directors in certain cases) by a corporation, or a receiver, trustee in bankruptcy, officer, director or judgment creditor thereof, or, under section 626 (Shareholders' derivative action brought in the right of the corporation to procure a judgment in its favor), by a shareholder, voting trust certificate holder, or the owner of a beneficial interest in shares thereof.
(c)	This section shall not affect any liability otherwise imposed by law upon any director or officer.

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Section 721. Nonexclusivity of statutory provisions for indemnification of directors and officers.

The indemnification and advancement of expenses granted pursuant to, or provided by, this article shall not be deemed exclusive of any other rights to which a director or officer seeking indemnification or advancement of expenses may be entitled, whether contained in the certificate of incorporation or the by-laws or, when authorized by such certificate of incorporation or by-laws, (i) a resolution of shareholders, (ii) a resolution of directors, or (iii) an agreement providing for such indemnification, provided that no indemnification may be made to or on behalf of any director or officer if a judgment or other final adjudication adverse to the director or officer establishes that his 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 he personally gained in fact a financial profit or other advantage to which he was not legally entitled. Nothing contained in this article shall affect any rights to indemnification to which corporate personnel other than directors and officers may be entitled by contract or otherwise under law.

Section 722. Authorization for indemnification of directors and officers.

(a)	A corporation may indemnify any person made, or threatened to be made, a party to an action or proceeding (other than one by or in the right of the corporation to procure a judgment in its favor), whether civil or criminal, including an action by or in the right of any other corporation of any type or kind, domestic or foreign, or any partnership, joint venture, trust, employee benefit plan or other enterprise, which any director or officer of the corporation served in any capacity at the request of the corporation, by reason of the fact that he, his testator or intestate, was a director or officer of the corporation, or served such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise in any capacity, against judgments, fines, amounts paid in settlement and reasonable expenses, including attorneys' fees actually and necessarily incurred as a result of such action or proceeding, or any appeal therein, if such director or officer acted, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service for any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the corporation and, in criminal actions or proceedings, in addition, had no reasonable cause to believe that his conduct was unlawful.
(b)	The termination of any such civil or criminal action or proceeding by judgment, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not in itself create a presumption that any such director or officer did not act, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service for any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the corporation or that he had reasonable cause to believe that his conduct was unlawful.
(c)	A corporation may indemnify any person made, or threatened to be made, a party to an action by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he, his testator or intestate, is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of any other corporation of any type or kind, domestic or foreign, of any partnership, joint venture, trust, employee benefit plan or other enterprise, against amounts paid in settlement and reasonable expenses, including attorneys' fees, actually and necessarily incurred by him in connection with the defense or settlement of such action, or in connection with an appeal therein, if such director or officer acted, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service for any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the corporation, except that no indemnification under this paragraph shall be made in respect of (1) a threatened action, or a pending action which is settled or otherwise disposed of, or (2) any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation, unless and only to the extent that the court in which the action was brought, or, if no action was brought, any court of competent jurisdiction, determines upon application that, in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such portion of the settlement amount and expenses as the court deems proper.

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(d) For the purpose of this section, a corporation shall be deemed to have requested a person to serve an employee benefit plan where the performance by such person of his duties to the corporation also imposes duties on, or otherwise involves services by, such person to the plan or participants or beneficiaries of the plan; excise taxes assessed on a person with respect to an employee benefit plan pursuant to applicable law shall be considered fines; and action taken or omitted by a person with respect to an employee benefit plan in the performance of such person's duties for a purpose reasonably believed by such person to be in the interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose which is not opposed to the best interests of the corporation.

Section 723. Payment of indemnification other than by court award.

(a)	A person who has been successful, on the merits or otherwise, in the defense of a civil or criminal action or proceeding of the character described in section 722 shall be entitled to indemnification as authorized in such section.
(b)	Except as provided in paragraph (a), any indemnification under section 722 or otherwise permitted by section 721, unless ordered by a court under section 724 (Indemnification of directors and officers by a court), shall be made by the corporation, only if authorized in the specific case:
	(1)	By the board acting by a quorum consisting of directors who are not parties to such action or proceeding upon a finding that the director or officer has met the standard of conduct set forth in section 722 or established pursuant to section 721, as the case may be, or,
	(2)	If a quorum under subparagraph (1) is not obtainable or, even if obtainable, a quorum of disinterested directors so directs;
		(A)	By the board upon the opinion in writing of independent legal counsel that indemnification is proper in the circumstances because the applicable standard of conduct set forth in such sections has been met by such director or officer, or
		(B)	By the shareholders upon a finding that the director or officer has met the applicable standard of conduct set forth in such sections.
(c)	Expenses incurred in defending a civil or criminal action or proceeding may be paid by the corporation in advance of the final disposition of such action or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount as, and to the extent, required by paragraph (a) of section 725.

Section 724. Indemnification of directors and officers by a court.

(a)	Notwithstanding the failure of a corporation to provide indemnification, and despite any contrary resolution of the board or of the shareholders in the specific case under section 723 (Payment of indemnification other than by court award), indemnification shall be awarded by a court to the extent authorized under section 722 (Authorization for indemnification of directors and officers), and paragraph (a) of section 723. Application therefor may be made, in every case, either:
	(1)	In the civil action or proceeding in which the expenses were incurred or other amounts were paid, or
	(2)	To the supreme court in a separate proceeding, in which case the application shall set forth the disposition of any previous application made to any court for the same or similar relief and also reasonable cause for the failure to make application for such relief in the action or proceeding in which the expenses were incurred or other amounts were paid.
(b)	The application shall be made in such manner and form as may be required by the applicable rules of court or, in the absence thereof, by direction of a court to which it is made. Such application shall be upon notice to the corporation. The court may also direct that notice be given at the expense of the corporation to the shareholders and such other persons as it may designate in such manner as it may require.

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(c) Where indemnification is sought by judicial action, the court may allow a person such reasonable expenses, including attorneys’ fees, during the pendency of the litigation as are necessary in connection with his defense therein, if the court shall find that the defendant has by his pleadings or during the course of the litigation raised genuine issues of fact or law.

Section 725. Other provisions affecting indemnification of directors and officers.

(a)	All expenses incurred in defending a civil or criminal action or proceeding which are advanced by the corporation under paragraph (c) of section 723 (Payment of indemnification other than by court award) or allowed by a court under paragraph (c) of section 724 (Indemnification of directors and officers by a court) shall be repaid in case the person receiving such advancement or allowance is ultimately found, under the procedure set forth in this article, not to be entitled to indemnification or, where indemnification is granted, to the extent the expenses so advanced by the corporation or allowed by the court exceed the indemnification to which he is entitled.
(b)	No indemnification, advancement or allowance shall be made under this article in any circumstance where it appears:
	(1)	That the indemnification would be inconsistent with the law of the jurisdiction of incorporation of a foreign corporation which prohibits or otherwise limits such indemnification;
	(2)	That the indemnification would be inconsistent with a provision of the certificate of incorporation, a by-law, a resolution of the board or of the shareholders, an agreement or other proper corporate action, in effect at the time of the accrual of the alleged cause of action asserted in the threatened or pending action or proceeding in which the expenses were incurred or other amounts were paid, which prohibits or otherwise limits indemnification; or
	(3)	If there has been a settlement approved by the court, that the indemnification would be inconsistent with any condition with respect to indemnification expressly imposed by the court in approving the settlement.
(c)	If any expenses or other amounts are paid by way of indemnification, otherwise than by court order or action by the shareholders, the corporation shall, not later than the next annual meeting of shareholders unless such meeting is held within three months from the date of such payment, and, in any event, within fifteen months from the date of such payment, mail to its shareholders of record at the time entitled to vote for the election of directors a statement specifying the persons paid, the amounts paid, and the nature and status at the time of such payment of the litigation or threatened litigation.
(d)	If any action with respect to indemnification of directors and officers is taken by way of amendment of the bylaws, resolution of directors, or by agreement, then the corporation shall, not later than the next annual meeting of shareholders, unless such meeting is held within three months from the date of such action, and, in any event, within fifteen months from the date of such action, mail to its shareholders of record at the time entitled to vote for the election of directors a statement specifying the action taken.
(e)	Any notification required to be made pursuant to the foregoing paragraph (c) or (d) of this section by any domestic mutual insurer shall be satisfied by compliance with the corresponding provisions of section one thousand two hundred sixteen of the insurance law.
(f)	The provisions of this article relating to indemnification of directors and officers and insurance therefor shall apply to domestic corporations and foreign corporations doing business in this state, except as provided in section 1320 (Exemption from certain provisions).

Section 726. Insurance for indemnification of directors and officers.

(a)    Subject to paragraph (b), a corporation shall have power to purchase and maintain insurance:

(1) To indemnify the corporation for any obligation which it incurs as a result of the indemnification of directors and officers under the provisions of this article, and

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	(2)	To indemnify directors and officers in instances in which they may be indemnified by the corporation under the provisions of this article, and
	(3)	To indemnify directors and officers in instances in which they may not otherwise be indemnified by the corporation under the provisions of this article provided the contract of insurance covering such directors and officers provides, in a manner acceptable to the superintendent of financial services, for a retention amount and for co-insurance.
(b)	No insurance under paragraph (a) may provide for any payment, other than cost of defense, to or on behalf of any director or officer:
	(1)	if a judgment or other final adjudication adverse to the insured director or officer establishes that his acts of active and deliberate dishonesty were material to the cause of action so adjudicated, or that he personally gained in fact a financial profit or other advantage to which he was not legally entitled, or
	(2)	in relation to any risk the insurance of which is prohibited under the insurance law of this state.
(c)	Insurance under any or all subparagraphs of paragraph (a) may be included in a single contract or supplement thereto. Retrospective rated contracts are prohibited.
(d)	The corporation shall, within the time and to the persons provided in paragraph (c) of section 725 (Other provisions affecting indemnification of directors or officers), mail a statement in respect of any insurance it has purchased or renewed under this section, specifying the insurance carrier, date of the contract, cost of the insurance, corporate positions insured, and a statement explaining all sums, not previously reported in a statement to shareholders, paid under any indemnification insurance contract.
(e)	This section is the public policy of this state to spread the risk of corporate management, notwithstanding any other general or special law of this state or of any other jurisdiction including the federal government.

Bylaws of Great-West of New York

ARTICLE II, SECTION 11. Indemnification of Directors. The corporation may, by resolution of the Board of Directors, indemnify and save harmless out of the funds of the corporation to the extent permitted by applicable law, any Director, Officer, or employee of the corporation or any member or officer of any Committee, and his or her heirs, executors, and administrators, from and against all claims, liabilities, costs, charges, and expenses whatsoever that any such Director, Officer, employee, or any such member or officer sustains or incurs in or about any action, suit, or proceeding that is brought, commenced, or prosecuted against him or her for or in respect of any act, deed, matter, or thing whatsoever, made, done, or permitted by him or her in or about the execution of the duties of his or her office or employment with the corporation, in or about the execution of his or her duties as a Director or Officer of another company which he or she so serves at the request and on behalf of the corporation, or in or about the execution of his or her duties as a member or officer of any such Committee, and all other claims, liabilities, costs, charges, and expenses that he or she sustains or incurs, in or about or in relation to any such duties or the affairs of the corporation, the affairs of such other company which he or she so serves or the affairs of such Committee, except such claims, liabilities, costs, charges, or expenses as are occasioned by acts or omissions which were in bad faith, involved intentional misconduct, a violation of the New York Insurance Law or a knowing violation of any other law or which resulted in such person personally gaining in fact a financial profit or other advantage to which he or she was not entitled. The corporation may, by resolution of the Board of Directors, indemnify and save harmless out of the funds of the corporation to the extent permitted by applicable law, any Director, Officer, or employee of any

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subsidiary corporation of the corporation on the same basis and within the same constraints as described in the preceding sentence. No payment of indemnification shall be made unless notice has been filed with the Superintendent of Financial Services pursuant to Section 1216 of the New York Insurance Law.

Item 29. Principal Underwriter

(a)

GWFS Equities, Inc. (“GWFS”) is the distributor of securities of the Registrant. Including the Registrant, GWFS serves as distributor or principal underwriter for Great-West Funds, Inc., an open-end management investment company, Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company (“GWL&A”), Variable Annuity-1 Series Account of Great-West Life & Annuity Insurance Company of New York (“GWL&A NY”), Variable Annuity-2 Series Account of GWL&A, Variable Annuity-2 Series Account of GWL&A NY, Variable Annuity-8 Series Account of GWL&A, Variable Annuity-8 Series Account of GWL&ANY, COLI VUL-2 Series Account of GWL&A, COLI VUL-2 Series Account of GWL&A NY, COLI VUL-4 Series Account of GWL&A, FutureFunds Series Account of GWL&A, Maxim Series Account of GWL&A, Prestige Variable Life Account of GWL&A, and Trillium Variable Annuity Account of GWL&A.

(b)

Directors and Officers of GWFS:

Name	Principal Business Address	Positions and Offices with Underwriter
C.E. Waddell	8515 East Orchard Road Greenwood Village, CO 80111	Chair, President, and Chief Executive Officer
S.E. Jenks	8515 East Orchard Road Greenwood Village, CO 80111	Director and Executive Vice President
R.H. Linton, Jr.	8515 East Orchard Road Greenwood Village, CO 80111	Director and Executive Vice President
R.K. Shaw	8515 East Orchard Road Greenwood Village, CO 80111	Executive Vice President
R.J. Laeyendecker	8515 East Orchard Road Greenwood Village, CO 80111	Senior Vice President
W.J. McDermott	8515 East Orchard Road Greenwood Village, CO 80111	Senior Vice President
D.A. Morrison	8515 East Orchard Road Greenwood Village, CO 80111	Senior Vice President
J.M. Smolen	8515 East Orchard Road Greenwood Village, CO 80111	Senior Vice President
S.M. Gile	8515 East Orchard Road Greenwood Village, CO 80111	Vice President
R.L. Logsdon	8515 East Orchard Road Greenwood Village, CO 80111	Vice President, Counsel, and Secretary
R.M. Mattie	8515 East Orchard Road Greenwood Village, CO 80111	FIN OP Principal, Principal Financial Officer, Principal Operations Officer, Vice President and Treasurer
K.I. Schindler	8515 East Orchard Road Greenwood Village, CO 80111	Chief Compliance Officer
M.J. Kavanagh	8515 East Orchard Road Greenwood Village, CO 80111	Associate Chief Compliance Officer
T.L. Luiz	8515 East Orchard Road Greenwood Village, CO 80111	Compliance Officer
B.R. Hudson	8515 East Orchard Road Greenwood Village, CO 80111	Senior Counsel and Assistant Secretary

(c) Commissions and other compensation received by Principal Underwriter, directly or indirectly, from the Registrant during Registrant’s last fiscal year:

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Name of Principal Underwriter	Net Underwriting Discounts and Commissions	Compensation on Redemption	Brokerage Commissions	Compensation
GWFS	-0-	-0-	-0-	-0-

Item 30. Location of Accounts and Records

All accounts, books, or other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940 and the rules promulgated thereunder are maintained by the Registrant through the Depositor, 8515 East Orchard Road, Greenwood Village, Colorado 80111.

Item 31. Management Services

Not Applicable.

Item 32. Undertakings and Representations

(a)	Registrant undertakes to file a post-effective amendment to this Registration Statement as frequently as is necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted.
(b)	Registrant undertakes to include either (1) as part of any application to purchase a contract offered by the Prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a postcard or similar written communication affixed to or included in the Prospectus that the applicant can remove to send for a Statement of Additional Information.
(c)	Registrant undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this form promptly upon written or oral request.
(d)	Great-West Life & Annuity Insurance Company of New York represents the fees and charges deducted under the Contract, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by Great-West Life & Annuity Insurance Company of New York.

C-32

SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant has caused this Registration Statement to be signed on its behalf, in the City of Greenwood Village, and State of Colorado, on this 25th day of April, 2019.

VARIABLE ANNUITY-1 SERIES ACCOUNT (Registrant)
By:	/s/ Andra S. Bolotin
	Andra S. Bolotin President and Chief Executive Officer of Great-West Life & Annuity Insurance Company of New York

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY OF NEW YORK (Depositor)
By:	/s/ Andra S. Bolotin
	Andra S. Bolotin President and Chief Executive Officer

As required by the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

Signature	Title	Date
/s/ R. Jeffrey Orr	Chairman of the Board	April 25, 2019
R. Jeffrey Orr*
/s/ Andra S. Bolotin	President and Chief Executive Officer	April 25, 2019
Andra S. Bolotin
/s/ Kara S. Roe	Principal Accounting Officer and Treasurer	April 25, 2019
Kara S. Roe
/s/ Marcia D. Alazraki	Director	April 25, 2019
Marcia D. Alazraki*
/s/ John L. Bernbach	Director	April 25, 2019
John L. Bernbach*
/s/ André R. Desmarais	Director	April 25, 2019
André R. Desmarais*
/s/ Paul G. Desmarais, Jr.	Director	April 25, 2019
Paul G. Desmarais, Jr.*
/s/ Stuart Z. Katz	Director	April 25, 2019
Stuart Z. Katz*
/s/ T. Timothy Ryan, Jr.	Director	April 25, 2019
T. Timothy Ryan, Jr.*
/s/ Jerome J. Selitto	Director	April 25, 2019
Jerome J. Selitto*

Signature		Title	Date
/s/ Brian E. Walsh		Director	April 25, 2019
Brian E. Walsh*
*By:	/s/ Ryan L. Logsdon	*Attorney-in-fact pursuant to Power of Attorney	April 25, 2019
	Ryan L. Logsdon