Variable Annuity Account I - Voya Financial · Voya High Yield Portfolio – Institutional Class...

Variable Annuity Account I

December 31, 2019 Annual Report

Voya Retirement Insurance and Annuity Company

Not all funds may be available in all jurisdictions, under all contracts or under all plans.

FINANCIAL STATEMENTSVariable Annuity Account I ofVoya Retirement Insurance and Annuity CompanyYear Ended December 31, 2019 with Report of Independent Registered Public Accounting Firm

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Contents

Report of Independent Registered Public Accounting Firm 1

Audited Financial Statements

Statements of Assets and Liabilities 4Statements of Operations 18Statements of Changes in Net Assets 31Notes to Financial Statements 49

VARIABLE ANNUITY ACCOUNT I OFVOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

Financial StatementsYear Ended December 31, 2019

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Report of Independent Registered Public Accounting Firm

To the Board of Directors of Voya Retirement Insurance and Annuity

Company and Contract Owners of Variable Annuity Account I of Voya

Retirement Insurance and Annuity Company

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the

Appendix that comprise Variable Annuity Account I of Voya Retirement Insurance and Annuity Company (the

Separate Account), as of December 31, 2019, the related statements of operations and the statements of changes

in net assets for each of the periods indicated in the Appendix, and the related notes (collectively referred to as

the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the

financial position of each subaccount as of December 31, 2019, the results of its operations and changes in its

net assets for each of the periods indicated in the Appendix, in conformity with U.S. generally accepted

accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Separate Account’s management. Our responsibility is to

express an opinion on each of the subaccounts’ 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 Separate 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. 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 procedures included confirmation of securities owned as of

December 31, 2019, by correspondence with the fund companies or their transfer agents, as applicable. 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. We believe that our audits provide a

reasonable basis for our opinion.

We have served as the Separate Accounts Auditor since 2001.

April 20, 2020

Ernst & Young LLP Suite 1000 55 Ivan Allen Jr. Boulevard Atlanta, GA 30308

Tel: +1 404 874 8300 Fax: +1 404 817 5589 ey.com

A member firm of Ernst & Young Global Limited

Appendix

Subaccounts comprising Variable Annuity Account I of Voya Retirement Insurance and

Annuity Company

Subaccounts

Statements of

Operations

Statements of

Changes in

Net Assets

Artisan International Fund – Investor Shares For the year

ended

December 31,

2019

For each of the

two years in the

period ended

December 31,

2019

Calvert VP SRI Balanced Portfolio

EuroPacific Growth Fund® – Class R-4

Federated Fund for U.S. Government Securities II – Primary Shares

Federated Government Money Fund II – Service Shares

Federated High Income Bond Fund II – Primary Shares

Federated Kaufmann Fund II – Primary Shares

Federated Managed Volatility Fund II – Primary Shares

Fidelity® VIP Contrafund® Portfolio – Initial Class

Fidelity® VIP Equity-Income Portfolio – Initial Class

Fidelity® VIP High Income Portfolio – Initial Class

Fidelity® VIP Index 500 Portfolio – Initial Class

Fidelity® VIP Investment Grade Bond Portfolio – Initial Class

Growth Fund of America® – Class R-4

Invesco V.I. Core Equity Fund – Series I Shares

Neuberger Berman Sustainable Equity Fund – Trust Class

Invesco Oppenheimer V.I. Main Street Fund – Series I

PIMCO Real Return Portfolio – Administrative Class

Pioneer Equity Income VCT Portfolio – Class I

Pioneer Mid Cap Value VCT Portfolio – Class I

Voya Balanced Portfolio – Class I

Voya Global Bond Portfolio – Initial Class

Voya Global Equity Portfolio – Class S

Voya Global Perspectives® Portfolio – Class A

Voya Government Money Market Portfolio – Class I

Voya Growth and Income Portfolio – Class I

Voya Index Plus LargeCap Portfolio – Class I

Voya Index Plus MidCap Portfolio – Class I

Voya Index Plus SmallCap Portfolio – Class I

Voya Intermediate Bond Portfolio – Class I

Voya International Index Portfolio – Class I

Voya Large Cap Growth Portfolio – Institutional Class

Voya Large Cap Value Portfolio – Service Class

Voya MidCap Opportunities Portfolio – Class I

Voya MidCap Opportunities Portfolio – Class S

Voya Retirement Conservative Portfolio – Adviser Class


Appendix

Subaccounts comprising Variable Annuity Account I of Voya Retirement Insurance and

Annuity Company (continued)

Subaccounts

Statements of

Operations

Statements of

Changes in

Net Assets

Voya Retirement Growth Portfolio – Adviser Class For the year

ended

December 31,

2019

For each of the

two years in the

period ended

December 31,

2019

Voya Retirement Moderate Growth Portfolio – Adviser Class

Voya Retirement Moderate Portfolio – Adviser Class

Voya Russell™ Large Cap Growth Index Portfolio – Class I

Voya Russell™ Large Cap Index Portfolio – Class I

Voya Russell™ Large Cap Value Index Portfolio – Class I

Voya Russell™ Large Cap Value Index Portfolio – Class S

Voya Small Company Portfolio – Class I

Voya SmallCap Opportunities Portfolio – Class I

Voya SmallCap Opportunities Portfolio – Class S

Voya Solution Moderately Aggressive Portfolio – Service Class

Voya Strategic Allocation Conservative Portfolio – Class I

Voya Strategic Allocation Growth Portfolio – Class I

Voya Strategic Allocation Moderate Portfolio – Class I

Voya U.S. Stock Index Portfolio – Institutional Class

VY® Baron Growth Portfolio – Service Class

VY® BlackRock Inflation Protected Bond Portfolio – Service Class

VY® Franklin Income Portfolio – Service Class

VY® Invesco Equity and Income Portfolio – Initial Class

VY® Invesco Growth and Income Portfolio – Service Class

VY® JPMorgan Emerging Markets Equity Portfolio – Institutional Class

VY® Invesco Oppenheimer Global Portfolio – Initial Class

VY® T. Rowe Price Capital Appreciation Portfolio – Service Class

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio – Initial Class

VY® T. Rowe Price Growth Equity Portfolio – Initial Class

VY® T. Rowe Price International Stock Portfolio – Service Class

Voya International High Dividend Low Volatility Portfolio – Initial Class

Wanger Select

Voya High Yield Portfolio – Institutional Class For the period from July 12, 2019

(commencement of operations)

through December 31, 2019

Voya Russell™ Mid Cap Growth Index Portfolio – Class S For the period from December 13,

2019 (commencement of

operations) through December 31,

2019

Voya Russell™ Small Cap Index Portfolio – Class I


Invesco Oppenheimer

V.I. Main Street Fund -

Series I

Invesco V.I. Core Equity

Fund - Series I

Artisan International

Fund - Investor Shares

Calvert VP SRI Balanced

Portfolio

EuroPacific Growth Fund® -

Class R-4AssetsInvestments in mutual funds

at fair value $ 73 $ 7,068 $ 40 $ 248 $ 28,506Total assets 73 7,068 40 248 28,506Net assets $ 73 $ 7,068 $ 40 $ 248 $ 28,506

Net assetsAccumulation units $ — $ 7,068 $ 40 $ 248 $ 28,506Contracts in payout (annuitization) 73 — — — —Total net assets $ 73 $ 7,068 $ 40 $ 248 $ 28,506

Total number of mutual fund shares 2,488 202,230 1,190 108,156 523,526

Cost of mutual fund shares $ 63 $ 6,680 $ 36 $ 224 $ 23,040


Statements of Assets and LiabilitiesDecember 31, 2019

(Dollars in thousands)

The accompanying notes are an integral part of these financial statements.4

Federated Fund for U.S.

Government Securities II -

Primary Shares

Federated Government Money Fund II - Service

Shares

Federated High Income

Bond Fund II - Primary Shares

Federated Kaufmann Fund II - Primary Shares

Federated Managed

Volatility Fund II - Primary

SharesAssetsInvestments in mutual funds

at fair value $ 213 $ 613 $ 316 $ 1,557 $ 3,664Total assets 213 613 316 1,557 3,664Net assets $ 213 $ 613 $ 316 $ 1,557 $ 3,664

Net assetsAccumulation units $ 138 $ 612 $ 308 $ 1,557 $ 3,648Contracts in payout (annuitization) 75 1 8 — 16Total net assets $ 213 $ 613 $ 316 $ 1,557 $ 3,664


Cost of mutual fund shares $ 205 $ 613 $ 317 $ 1,217 $ 3,347





Fidelity® VIP Contrafund®

Portfolio - Initial Class

Fidelity® VIP Index 500 Portfolio -

Initial Class

Fidelity® VIP Investment Grade Bond Portfolio -

Initial Class

Fidelity® VIP Equity-Income


Fidelity® VIP High Income


AssetsInvestments in mutual funds

at fair value $ 32,949 $ 6,029 $ 73 $ 15,256 $ 3Total assets 32,949 6,029 73 15,256 3Net assets $ 32,949 $ 6,029 $ 73 $ 15,256 $ 3

Net assetsAccumulation units $ 32,949 $ 6,029 $ 73 $ 15,256 $ —Contracts in payout (annuitization) — — — — 3Total net assets $ 32,949 $ 6,029 $ 73 $ 15,256 $ 3

Total number of mutual fund shares 886,446 18,821 5,515 641,836 534

Cost of mutual fund shares $ 28,926 $ 3,506 $ 69 $ 14,012 $ 3





Growth Fund of America® -

Class R-4

Neuberger Berman

Sustainable Equity Fund -

Trust Class Shares

PIMCO VIT Real Return Portfolio -

Administrative Class

Pioneer Equity Income VCT

Portfolio - Class I

Pioneer Mid Cap Value

VCT Portfolio - Class I


at fair value $ 55,558 $ 2,335 $ 1 $ 4 $ 1Total assets 55,558 2,335 1 4 1Net assets $ 55,558 $ 2,335 $ 1 $ 4 $ 1

Net assetsAccumulation units $ 55,558 $ 2,335 $ 1 $ 4 $ 1Contracts in payout (annuitization) — — — — —Total net assets $ 55,558 $ 2,335 $ 1 $ 4 $ 1

Total number of mutual fund shares 1,097,770 61,848 45 257 29

Cost of mutual fund shares $ 43,800 $ 2,247 $ 1 $ 6 $ 1





Voya Balanced Portfolio -

Class I

Voya Intermediate

Bond Portfolio - Class I

Voya Balanced Income

Portfolio - Service Class

Voya Global Perspectives®

Portfolio - Class A

Voya High Yield Portfolio -

Institutional Class


at fair value $ 13,298 $ 21,922 $ 90 $ 32 $ 1,832Total assets 13,298 21,922 90 32 1,832Net assets $ 13,298 $ 21,922 $ 90 $ 32 $ 1,832

Net assetsAccumulation units $ 13,267 $ 21,917 $ 90 $ 32 $ 1,832Contracts in payout (annuitization) 31 5 — — —Total net assets $ 13,298 $ 21,922 $ 90 $ 32 $ 1,832

Total number of mutual fund shares 846,449 1,675,967 8,104 2,826 184,301

Cost of mutual fund shares $ 11,276 $ 21,545 $ 92 $ 29 $ 1,808





Voya Large Cap Growth

Portfolio - Institutional

Class

Voya Large Cap Value Portfolio -

Service Class

Voya Retirement

Conservative Portfolio -

Adviser Class

Voya Retirement

Growth Portfolio -

Adviser Class

Voya Retirement Moderate Growth

Portfolio - Adviser Class


at fair value $ 12,871 $ 31 $ 494 $ 41 $ 2Total assets 12,871 31 494 41 2Net assets $ 12,871 $ 31 $ 494 $ 41 $ 2

Net assetsAccumulation units $ 12,847 $ 31 $ 494 $ 41 $ 2Contracts in payout (annuitization) 24 — — — —Total net assets $ 12,871 $ 31 $ 494 $ 41 $ 2

Total number of mutual fund shares 649,044 2,541 53,031 3,129 201

Cost of mutual fund shares $ 12,016 $ 29 $ 476 $ 41 $ 2





Voya Retirement Moderate Portfolio -

Adviser Class

Voya U.S. Stock Index Portfolio -

Institutional Class

VY® BlackRock Inflation

Protected Bond Portfolio -

Service Class

VY® Invesco Growth and

Income Portfolio -

Service Class

VY® JPMorgan Emerging Markets Equity


ClassAssetsInvestments in mutual funds

at fair value $ 83 $ 36,036 $ 405 $ 19 $ 321Total assets 83 36,036 405 19 321Net assets $ 83 $ 36,036 $ 405 $ 19 $ 321

Net assetsAccumulation units $ 83 $ 36,036 $ 405 $ 19 $ 321Contracts in payout (annuitization) — — — — —Total net assets $ 83 $ 36,036 $ 405 $ 19 $ 321

Total number of mutual fund shares 7,177 2,120,992 41,698 826 14,424

Cost of mutual fund shares $ 86 $ 30,783 $ 395 $ 20 $ 278





VY® T. Rowe Price Capital Appreciation


VY® T. Rowe Price

International Stock


Voya Government

Money Market Portfolio -

Class I

Voya Global Bond


Voya International

High Dividend Low Volatility



at fair value $ 59,751 $ 72 $ 9,882 $ 10,550 $ 258Total assets 59,751 72 9,882 10,550 258Net assets $ 59,751 $ 72 $ 9,882 $ 10,550 $ 258

Net assetsAccumulation units $ 59,751 $ 72 $ 9,881 $ 10,548 $ 238Contracts in payout (annuitization) — — 1 2 20Total net assets $ 59,751 $ 72 $ 9,882 $ 10,550 $ 258

Total number of mutual fund shares 2,030,962 4,439 9,882,161 974,184 22,487

Cost of mutual fund shares $ 55,634 $ 54 $ 9,882 $ 10,560 $ 269





Voya Solution Moderately Aggressive Portfolio -

Service Class

VY® Baron Growth


VY® Invesco Equity and

Income Portfolio -

Initial Class

VY® Invesco Oppenheimer

Global Portfolio -

Initial Class

VY® T. Rowe Price

Diversified Mid Cap Growth Portfolio -

Initial ClassAssetsInvestments in mutual funds

at fair value $ 3 $ 12,491 $ 3,906 $ 34,413 $ 2,260Total assets 3 12,491 3,906 34,413 2,260Net assets $ 3 $ 12,491 $ 3,906 $ 34,413 $ 2,260

Net assetsAccumulation units $ 3 $ 12,491 $ 3,906 $ 34,378 $ 2,260Contracts in payout (annuitization) — — — 35 —Total net assets $ 3 $ 12,491 $ 3,906 $ 34,413 $ 2,260

Total number of mutual fund shares 242 576,952 88,606 1,768,406 180,814

Cost of mutual fund shares $ 3 $ 15,363 $ 4,038 $ 30,574 $ 1,989





VY® T. Rowe Price Growth

Equity Portfolio -

Initial Class

Voya Strategic Allocation


Class I


Growth Portfolio -

Class I

Voya Strategic Allocation Moderate Portfolio -

Class I

Voya Growth and Income Portfolio -

Class IAssetsInvestments in mutual funds

at fair value $ 14,196 $ 528 $ 1,123 $ 995 $ 3,895Total assets 14,196 528 1,123 995 3,895Net assets $ 14,196 $ 528 $ 1,123 $ 995 $ 3,895

Net assetsAccumulation units $ 13,936 $ 524 $ 1,123 $ 995 $ 3,763Contracts in payout (annuitization) 260 4 — — 132Total net assets $ 14,196 $ 528 $ 1,123 $ 995 $ 3,895


Cost of mutual fund shares $ 14,792 $ 503 $ 782 $ 869 $ 3,903





Voya Global Equity

Portfolio - Class S

Voya Index Plus

LargeCap Portfolio -

Class I

Voya Index Plus MidCap

Portfolio - Class I

Voya Index Plus SmallCap

Portfolio - Class I

Voya International

Index Portfolio - Class I


at fair value $ 34 $ 684 $ 32,862 $ 16 $ 756Total assets 34 684 32,862 16 756Net assets $ 34 $ 684 $ 32,862 $ 16 $ 756

Net assetsAccumulation units $ 34 $ 618 $ 32,862 $ 16 $ 749Contracts in payout (annuitization) — 66 — — 7Total net assets $ 34 $ 684 $ 32,862 $ 16 $ 756

Total number of mutual fund shares 3,139 23,786 1,685,234 752 71,276

Cost of mutual fund shares $ 31 $ 508 $ 34,501 $ 13 $ 664





Voya Russell™ Large Cap

Growth Index Portfolio -

Class I

Voya Russell™

Large Cap Index

Portfolio - Class I


Value Index Portfolio -

Class I



Class S

Voya Russell™ Mid Cap


Class SAssetsInvestments in mutual funds

at fair value $ 8,183 $ 902 $ 5,010 $ 539 $ 148Total assets 8,183 902 5,010 539 148Net assets $ 8,183 $ 902 $ 5,010 $ 539 $ 148

Net assetsAccumulation units $ 8,183 $ 902 $ 5,010 $ 539 $ 148Contracts in payout (annuitization) — — — — —Total net assets $ 8,183 $ 902 $ 5,010 $ 539 $ 148


Cost of mutual fund shares $ 6,136 $ 644 $ 4,085 $ 373 $ 146





Voya Russell™ Small Cap


Voya Small Company Portfolio -

Class I

Voya MidCap Opportunities

Portfolio - Class I


Portfolio - Class S

Voya SmallCap

Opportunities Portfolio -

Class IAssetsInvestments in mutual funds

at fair value $ 214 $ 37,361 $ 10,108 $ 76 $ 1Total assets 214 37,361 10,108 76 1Net assets $ 214 $ 37,361 $ 10,108 $ 76 $ 1

Net assetsAccumulation units $ 214 $ 37,274 $ 10,108 $ 76 $ 1Contracts in payout (annuitization) — 87 — — —Total net assets $ 214 $ 37,361 $ 10,108 $ 76 $ 1

Total number of mutual fund shares 14,992 2,192,543 726,114 5,864 48

Cost of mutual fund shares $ 210 $ 42,741 $ 9,807 $ 80 $ 1





Voya SmallCap Opportunities

Portfolio - Class S Wanger Select


at fair value $ 93 $ 2Total assets 93 2Net assets $ 93 $ 2

Net assetsAccumulation units $ 93 $ 2Contracts in payout (annuitization) — —Total net assets $ 93 $ 2

Total number of mutual fund shares 4,513 102

Cost of mutual fund shares $ 115 $ 2





Invesco Oppenheimer


Series I


Fund - Series I



Calvert VP SRI Balanced

Portfolio

EuroPacific Growth Fund® -

Class R-4Net investment income (loss)Investment Income:

Dividends $ 1 $ 63 $ — $ 4 $ 298Expenses:

Mortality and expense risk charges 1 60 — 3 244Total expenses 1 60 — 3 244Net investment income (loss) — 3 — 1 54

Realized and unrealized gain (loss) on investments

Net realized gain (loss) on investments 1 172 — 1 527Capital gains distributions 11 760 2 8 497Total realized gain (loss) on investments

and capital gains distributions 12 932 2 9 1,024Net unrealized appreciation

(depreciation) of investments 6 664 7 29 5,076Net realized and unrealized gain (loss)

on investments 18 1,596 9 38 6,100Net increase (decrease) in net assets

resulting from operations $ 18 $ 1,599 $ 9 $ 39 $ 6,154


Statements of OperationsFor the Year Ended December 31, 2019



Federated Fund for U.S. Government Securities II -

Primary Shares

Federated Government

Money Fund II - Service Shares

Federated High Income

Bond Fund II - Primary Shares

Federated Kaufmann Fund II - Primary Shares

Federated Managed Volatility Fund II - Primary Shares

Net investment income (loss)Investment Income:

Dividends $ 4 $ 10 $ 21 $ — $ 76Expenses:

Mortality and expense risk charges 3 9 5 22 51Total expenses 3 9 5 22 51Net investment income (loss) 1 1 16 (22) 25


Net realized gain (loss) on investments (8) — (7) 62 56Capital gains distributions — — — 137 —Total realized gain (loss) on investments

and capital gains distributions (8) — (7) 199 56Net unrealized appreciation

(depreciation) of investments 15 — 30 231 527Net realized and unrealized gain (loss)

on investments 7 — 23 430 583Net increase (decrease) in net assets

resulting from operations $ 8 $ 1 $ 39 $ 408 $ 608








Initial Class


Initial Class






Dividends $ 142 $ 110 $ 2 $ 286 $ —Expenses:

Mortality and expense risk charges 281 78 1 129 —Total expenses 281 78 1 129 —Net investment income (loss) (139) 32 1 157 —


Net realized gain (loss) on investments 806 477 — (70) —Capital gains distributions 3,492 84 — 911 —Total realized gain (loss) on investments

and capital gains distributions 4,298 561 — 841 —Net unrealized appreciation

(depreciation) of investments 3,925 836 4 2,295 —Net realized and unrealized gain (loss)

on investments 8,223 1,397 4 3,136 —Net increase (decrease) in net assets

resulting from operations $ 8,084 $ 1,429 $ 5 $ 3,293 $ —






Class R-4

Neuberger Berman


Trust Class Shares




Portfolio - Class I




Dividends $ 360 $ 11 $ — $ — $ —Expenses:

Mortality and expense risk charges 478 19 — — —Total expenses 478 19 — — —Net investment income (loss) (118) (8) — — —


Net realized gain (loss) on investments 2,534 (24) — — —Capital gains distributions 3,365 181 — 2 —Total realized gain (loss) on investments

and capital gains distributions 5,899 157 — 2 —Net unrealized appreciation

(depreciation) of investments 6,664 310 — (1) —Net realized and unrealized gain (loss)

on investments 12,563 467 — 1 —Net increase (decrease) in net assets

resulting from operations $ 12,445 $ 459 $ — $ 1 $ —






Class I

Voya Intermediate

Bond Portfolio - Class I




Portfolio - Class A


Institutional Class


Dividends $ 310 $ 738 $ 5 $ 1 $ 36Expenses:

Mortality and expense risk charges 125 209 2 — 9Total expenses 125 209 2 — 9Net investment income (loss) 185 529 3 1 27


Net realized gain (loss) on investments 351 (41) (1) — —Capital gains distributions 519 26 6 1 —Total realized gain (loss) on investments

and capital gains distributions 870 (15) 5 1 —Net unrealized appreciation

(depreciation) of investments 1,066 1,315 9 3 24Net realized and unrealized gain (loss)

on investments 1,936 1,300 14 4 24Net increase (decrease) in net assets

resulting from operations $ 2,121 $ 1,829 $ 17 $ 5 $ 51






Service Class



Class


Institutional Class


Service Class

Voya Retirement


Adviser ClassNet investment income (loss)Investment Income:


Mortality and expense risk charges 6 178 — 2 6Total expenses 6 178 — 2 6Net investment income (loss) 18 (95) — (1) 3


Net realized gain (loss) on investments (9) 321 — (1) —Capital gains distributions — 1,997 — 9 12Total realized gain (loss) on investments

and capital gains distributions (9) 2,318 — 8 12Net unrealized appreciation

(depreciation) of investments 61 1,184 — 18 23Net realized and unrealized gain (loss)

on investments 52 3,502 — 26 35Net increase (decrease) in net assets

resulting from operations $ 70 $ 3,407 $ — $ 25 $ 38





Voya Retirement

Growth Portfolio -

Adviser Class




Adviser Class


Institutional Class

VY® BlackRock Inflation Protected

Bond Portfolio -

Service ClassNet investment income (loss)Investment Income:

Dividends $ 1 $ — $ 2 $ 536 $ 8Expenses:

Mortality and expense risk charges 1 — 1 303 5Total expenses 1 — 1 303 5Net investment income (loss) — — 1 233 3


Net realized gain (loss) on investments — — — 1,358 —Capital gains distributions 3 — 3 1,863 —Total realized gain (loss) on investments

and capital gains distributions 3 — 3 3,221 —Net unrealized appreciation

(depreciation) of investments 4 — 7 5,213 21Net realized and unrealized gain (loss)

on investments 7 — 10 8,434 21Net increase (decrease) in net assets

resulting from operations $ 7 $ — $ 11 $ 8,667 $ 24






Income Portfolio -

Service Class

VY® JPMorgan Emerging Markets Equity


Class

VY® JPMorgan Small Cap

Core Equity Portfolio -

Institutional Class



VY® T. Rowe Price

International Stock Portfolio -

Service ClassNet investment income (loss)Investment Income:

Dividends $ — $ 1 $ 2 $ 826 $ 1Expenses:

Mortality and expense risk charges — 5 3 507 1Total expenses — 5 3 507 1Net investment income (loss) — (4) (1) 319 —


Net realized gain (loss) on investments — 3 (57) 207 19Capital gains distributions 2 21 54 2,846 6Total realized gain (loss) on investments

and capital gains distributions 2 24 (3) 3,053 25Net unrealized appreciation

(depreciation) of investments 1 66 46 8,004 (6)Net realized and unrealized gain (loss)

on investments 3 90 43 11,057 19Net increase (decrease) in net assets

resulting from operations $ 3 $ 86 $ 42 $ 11,376 $ 19





Voya Government


Class I

Voya Global Bond


Voya International




Service Class

VY® Baron Growth



Dividends $ 188 $ 304 $ 6 $ — $ —Expenses:

Mortality and expense risk charges 106 99 4 — 110Total expenses 106 99 4 — 110Net investment income (loss) 82 205 2 — (110)


Net realized gain (loss) on investments — (74) (9) — 158Capital gains distributions 7 184 25 — 5,378Total realized gain (loss) on investments

and capital gains distributions 7 110 16 — 5,536Net unrealized appreciation

(depreciation) of investments — 372 24 — (1,767)Net realized and unrealized gain (loss)

on investments 7 482 40 — 3,769Net increase (decrease) in net assets

resulting from operations $ 89 $ 687 $ 42 $ — $ 3,659






Income Portfolio -

Initial Class


Global Portfolio -

Initial Class

VY® Pioneer High Yield Portfolio -

Initial Class

VY® T. Rowe Price

Diversified Mid Cap Growth



Equity Portfolio -

Initial ClassNet investment income (loss)Investment Income:


Mortality and expense risk charges 56 330 12 31 183Total expenses 56 330 12 31 183Net investment income (loss) 22 (170) 31 (25) (149)


Net realized gain (loss) on investments (97) 1,339 (34) 69 (477)Capital gains distributions 206 5,476 35 217 3,874Total realized gain (loss) on investments

and capital gains distributions 109 6,815 1 286 3,397Net unrealized appreciation

(depreciation) of investments 545 1,827 77 390 1,169Net realized and unrealized gain (loss)









Class I


Growth Portfolio -

Class I


Class I


Class I

Voya Global Equity

Portfolio - Class S



Mortality and expense risk charges 7 16 16 55 1Total expenses 7 16 16 55 1Net investment income (loss) 7 11 16 5 —


Net realized gain (loss) on investments 4 163 98 66 2Capital gains distributions 27 91 79 380 2Total realized gain (loss) on investments

and capital gains distributions 31 254 177 446 4Net unrealized appreciation

(depreciation) of investments 27 (35) (8) 493 3Net realized and unrealized gain (loss)

on investments 58 219 169 939 7Net increase (decrease) in net assets

resulting from operations $ 65 $ 230 $ 185 $ 944 $ 7





Voya Index Plus LargeCap

Portfolio - Class I


Portfolio - Class I

Voya Index Plus

SmallCap Portfolio -

Class I

Voya International


Voya Russell™

Large Cap Growth Index

Portfolio - Class I



Mortality and expense risk charges 12 291 — 11 47Total expenses 12 291 — 11 47Net investment income (loss) 5 141 — 14 (17)


Net realized gain (loss) on investments 250 641 — 36 411Capital gains distributions 92 3,080 2 — 138Total realized gain (loss) on investments

and capital gains distributions 342 3,721 2 36 549Net unrealized appreciation

(depreciation) of investments (119) 3,452 1 87 506Net realized and unrealized gain (loss)







Voya Russell™

Large Cap Index

Portfolio - Class I

Voya Russell™

Large Cap Value Index Portfolio -

Class I

Voya Russell™

Large Cap Value Index Portfolio -

Class S

Voya Russell™ Mid Cap Growth

Index Portfolio -

Class S

Voya Russell™ Small Cap

Index Portfolio -

Class INet investment income (loss)Investment Income:

Dividends $ 19 $ 124 $ 11 $ — $ —Expenses:

Mortality and expense risk charges 14 69 7 — —Total expenses 14 69 7 — —Net investment income (loss) 5 55 4 — —


Net realized gain (loss) on investments 185 110 26 — —Capital gains distributions 35 189 18 — —Total realized gain (loss) on investments

and capital gains distributions 220 299 44 — —Net unrealized appreciation

(depreciation) of investments 41 696 56 2 4Net realized and unrealized gain (loss)

on investments 261 995 100 2 4Net increase (decrease) in net assets

resulting from operations $ 266 $ 1,050 $ 104 $ 2 $ 4






Class I


Portfolio - Class I


Portfolio - Class S

Voya SmallCap


Class I


Portfolio - Class S


Dividends $ 148 $ 26 $ — $ — $ —Expenses:

Mortality and expense risk charges 333 92 1 — 2Total expenses 333 92 1 — 2Net investment income (loss) (185) (66) (1) — (2)


Net realized gain (loss) on investments (478) (202) 1 — (10)Capital gains distributions 4,994 1,150 9 — 16Total realized gain (loss) on investments

and capital gains distributions 4,516 948 10 — 6Net unrealized appreciation

(depreciation) of investments 3,545 1,471 10 — 17Net realized and unrealized gain (loss)

on investments 8,061 2,419 20 — 23Net increase (decrease) in net assets

resulting from operations $ 7,876 $ 2,353 $ 19 $ — $ 21





Wanger Select

Net investment income (loss)

Investment Income:

Dividends $ —

Expenses:

Mortality and expense risk charges —

Total expenses —

Net investment income (loss) —

Realized and unrealized gain (loss)

on investments

Net realized gain (loss) on investments —

Capital gains distributions —

Total realized gain (loss) on investments

and capital gains distributions —

Net unrealized appreciation

(depreciation) of investments —

Net realized and unrealized gain (loss)

on investments —

Net increase (decrease) in net assets

resulting from operations $ —





Invesco Oppenheimer


Series I


Fund - Series I



Calvert VP SRI Balanced Portfolio

Net assets at January 1, 2018 $ 68 $ 7,141 $ 35 $ 71

Increase (decrease) in net assetsOperations:

Net investment income (loss) — (2) — —Total realized gain (loss) on investments

and capital gains distributions 7 690 2 7Net unrealized appreciation (depreciation)

of investments (13) (1,351) (7) (10)Net increase (decrease) in net assets resulting from

operations (6) (663) (5) (3)Changes from principal transactions:

Total unit transactions (3) (572) 1 —Increase (decrease) in net assets derived from

principal transactions (3) (572) 1 —Total increase (decrease) in net assets (9) (1,235) (4) (3)Net assets at December 31, 2018 59 5,906 31 68


Net investment income (loss) — 3 — 1Total realized gain (loss) on investments


of investments 6 664 7 29Net increase (decrease) in net assets resulting from

operations 18 1,599 9 39Changes from principal transactions:

Total unit transactions (4) (437) — 141Increase (decrease) in net assets derived from

principal transactions (4) (437) — 141Total increase (decrease) in net assets 14 1,162 9 180Net assets at December 31, 2019 $ 73 $ 7,068 $ 40 $ 248


Statements of Changes in Net AssetsFor the Years Ended December 31, 2019 and 2018



EuroPacific Growth Fund® - Class R-4

Federated Fund for U.S. Government Securities II -

Primary Shares

Federated Government

Money Fund II - Service Shares

Federated High Income Bond

Fund II - Primary Shares

Net assets at January 1, 2018 $ 32,355 $ 202 $ 564 $ 392


Net investment income (loss) 58 2 (1) 25Total realized gain (loss) on investments

and capital gains distributions 2,148 (5) — (4)Net unrealized appreciation (depreciation)

of investments (7,041) 1 — (37)Net increase (decrease) in net assets resulting from

operations (4,835) (2) (1) (16)Changes from principal transactions:

Total unit transactions (2,709) (58) 101 (50)Increase (decrease) in net assets derived from

principal transactions (2,709) (58) 101 (50)Total increase (decrease) in net assets (7,544) (60) 100 (66)Net assets at December 31, 2018 24,811 142 664 326


Net investment income (loss) 54 1 1 16Total realized gain (loss) on investments

and capital gains distributions 1,024 (8) — (7)Net unrealized appreciation (depreciation)

of investments 5,076 15 — 30Net increase (decrease) in net assets resulting from

operations 6,154 8 1 39Changes from principal transactions:

Total unit transactions (2,459) 63 (52) (49)Increase (decrease) in net assets derived from

principal transactions (2,459) 63 (52) (49)Total increase (decrease) in net assets 3,695 71 (51) (10)Net assets at December 31, 2019 $ 28,506 $ 213 $ 613 $ 316





Federated Kaufmann Fund II -

Primary Shares

Federated Managed

Volatility Fund II - Primary

Shares




Initial ClassNet assets at January 1, 2018 $ 1,434 $ 1,970 $ 32,691 $ 5,787


Net investment income (loss) (21) 18 (69) 27Total realized gain (loss) on investments

and capital gains distributions 146 40 4,132 479Net unrealized appreciation (depreciation)

of investments (81) (424) (6,098) (817)Net increase (decrease) in net assets resulting from

operations 44 (366) (2,035) (311)Changes from principal transactions:

Total unit transactions (122) 1,814 (3,133) (354)Increase (decrease) in net assets derived from

principal transactions (122) 1,814 (3,133) (354)Total increase (decrease) in net assets (78) 1,448 (5,168) (665)Net assets at December 31, 2018 1,356 3,418 27,523 5,122




of investments 231 527 3,925 836Net increase (decrease) in net assets resulting from

operations 408 608 8,084 1,429Changes from principal transactions:

Total unit transactions (207) (362) (2,658) (522)Increase (decrease) in net assets derived from

principal transactions (207) (362) (2,658) (522)Total increase (decrease) in net assets 201 246 5,426 907Net assets at December 31, 2019 $ 1,557 $ 3,664 $ 32,949 $ 6,029






Initial Class






Class R-4Net assets at January 1, 2018 $ 88 $ 15,764 $ 3 $ 53,671


Net investment income (loss) 1 192 — (233)Total realized gain (loss) on investments

and capital gains distributions 1 940 — 7,390Net unrealized appreciation (depreciation)

of investments (3) (2,414) — (8,839)Net increase (decrease) in net assets resulting from

operations (1) (1,282) — (1,682)Changes from principal transactions:

Total unit transactions (6) (1,683) — (4,039)Increase (decrease) in net assets derived from

principal transactions (6) (1,683) — (4,039)Total increase (decrease) in net assets (7) (2,965) — (5,721)Net assets at December 31, 2018 81 12,799 3 47,950


Net investment income (loss) 1 157 — (118)Total realized gain (loss) on investments

and capital gains distributions — 841 — 5,899Net unrealized appreciation (depreciation)

of investments 4 2,295 — 6,664Net increase (decrease) in net assets resulting from

operations 5 3,293 — 12,445Changes from principal transactions:

Total unit transactions (13) (836) — (4,837)Increase (decrease) in net assets derived from

principal transactions (13) (836) — (4,837)Total increase (decrease) in net assets (8) 2,457 — 7,608Net assets at December 31, 2019 $ 73 $ 15,256 $ 3 $ 55,558





Neuberger Berman


Trust Class Shares




Portfolio - Class I



Net assets at January 1, 2018 $ 2,264 $ 1 $ 31 $ 1


Net investment income (loss) (15) — 1 —Total realized gain (loss) on investments

and capital gains distributions 167 — 7 —Net unrealized appreciation (depreciation)

of investments (288) — (7) —Net increase (decrease) in net assets resulting from

operations (136) — 1 —Changes from principal transactions:

Total unit transactions (204) — (29) (1)Increase (decrease) in net assets derived from

principal transactions (204) — (29) (1)Total increase (decrease) in net assets (340) — (28) (1)Net assets at December 31, 2018 1,924 1 3 —


Net investment income (loss) (8) — — —Total realized gain (loss) on investments

and capital gains distributions 157 — 2 —Net unrealized appreciation (depreciation)

of investments 310 — (1) —Net increase (decrease) in net assets resulting from

operations 459 — 1 —Changes from principal transactions:

Total unit transactions (48) — — 1Increase (decrease) in net assets derived from

principal transactions (48) — — 1Total increase (decrease) in net assets 411 — 1 1Net assets at December 31, 2019 $ 2,335 $ 1 $ 4 $ 1






Class I

Voya Intermediate

Bond Portfolio -

Class I




Portfolio - Class ANet assets at January 1, 2018 $ 14,515 $ 21,817 $ 87 $ 30



and capital gains distributions 1,624 (113) — —Net unrealized appreciation (depreciation)

of investments (2,827) (800) (13) (3)Net increase (decrease) in net assets resulting from


Total unit transactions (1,314) 121 41 (1)Increase (decrease) in net assets derived from

principal transactions (1,314) 121 41 (1)Total increase (decrease) in net assets (2,346) (208) 33 (3)Net assets at December 31, 2018 12,169 21,609 120 27



and capital gains distributions 870 (15) 5 1Net unrealized appreciation (depreciation)

of investments 1,066 1,315 9 3Net increase (decrease) in net assets resulting from

operations 2,121 1,829 17 5Changes from principal transactions:

Total unit transactions (992) (1,516) (47) —Increase (decrease) in net assets derived from

principal transactions (992) (1,516) (47) —Total increase (decrease) in net assets 1,129 313 (30) 5Net assets at December 31, 2019 $ 13,298 $ 21,922 $ 90 $ 32





Voya High Yield


Class


Service Class



Class


Institutional Class

Net assets at January 1, 2018 $ — $ 1,230 $ 13,645 $ 1


Net investment income (loss) — 33 (103) —Total realized gain (loss) on investments

and capital gains distributions — (1) 2,056 —Net unrealized appreciation (depreciation)

of investments — (64) (2,234) —Net increase (decrease) in net assets resulting from

operations — (32) (281) —Changes from principal transactions:

Total unit transactions — (550) (1,544) —Increase (decrease) in net assets derived from

principal transactions — (550) (1,544) —Total increase (decrease) in net assets — (582) (1,825) —Net assets at December 31, 2018 — 648 11,820 1


Net investment income (loss) 27 18 (95) —Total realized gain (loss) on investments

and capital gains distributions — (9) 2,318 —Net unrealized appreciation (depreciation)

of investments 24 61 1,184 —Net increase (decrease) in net assets resulting from

operations 51 70 3,407 —Changes from principal transactions:

Total unit transactions 1,781 (718) (2,356) (1)Increase (decrease) in net assets derived from

principal transactions 1,781 (718) (2,356) (1)Total increase (decrease) in net assets 1,832 (648) 1,051 (1)Net assets at December 31, 2019 $ 1,832 $ — $ 12,871 $ —






Service Class

Voya Retirement


Adviser Class

Voya Retirement

Growth Portfolio -

Adviser Class



Net assets at January 1, 2018 $ 135 $ 161 $ 37 $ 2


Net investment income (loss) — 1 — —Total realized gain (loss) on investments

and capital gains distributions 15 5 3 —Net unrealized appreciation (depreciation)

of investments (27) (12) (6) —Net increase (decrease) in net assets resulting from

operations (12) (6) (3) —Changes from principal transactions:

Total unit transactions (10) (15) — —Increase (decrease) in net assets derived from

principal transactions (10) (15) — —Total increase (decrease) in net assets (22) (21) (3) —Net assets at December 31, 2018 113 140 34 2


Net investment income (loss) (1) 3 — —Total realized gain (loss) on investments


of investments 18 23 4 —Net increase (decrease) in net assets resulting from

operations 25 38 7 —Changes from principal transactions:

Total unit transactions (107) 316 — —Increase (decrease) in net assets derived from

principal transactions (107) 316 — —Total increase (decrease) in net assets (82) 354 7 —Net assets at December 31, 2019 $ 31 $ 494 $ 41 $ 2






Adviser Class


Institutional Class

VY® BlackRock Inflation

Protected Bond Portfolio -

Service Class


Income Portfolio -

Service ClassNet assets at January 1, 2018 $ 69 $ 31,246 $ 88 $ 18


Net investment income (loss) — 279 2 —Total realized gain (loss) on investments

and capital gains distributions 3 2,809 — 2Net unrealized appreciation (depreciation)


operations (5) (1,862) (11) (3)Changes from principal transactions:

Total unit transactions 8 518 288 1Increase (decrease) in net assets derived from

principal transactions 8 518 288 1Total increase (decrease) in net assets 3 (1,344) 277 (2)Net assets at December 31, 2018 72 29,902 365 16


Net investment income (loss) 1 233 3 —Total realized gain (loss) on investments

and capital gains distributions 3 3,221 — 2Net unrealized appreciation (depreciation)

of investments 7 5,213 21 1Net increase (decrease) in net assets resulting from


Total unit transactions — (2,533) 16 —Increase (decrease) in net assets derived from

principal transactions — (2,533) 16 —Total increase (decrease) in net assets 11 6,134 40 3Net assets at December 31, 2019 $ 83 $ 36,036 $ 405 $ 19





VY® JPMorgan Emerging

Markets Equity Portfolio -

Institutional Class

VY® JPMorgan Small Cap

Core Equity Portfolio -

Institutional Class



VY® T. Rowe Price

International Stock Portfolio -

Service ClassNet assets at January 1, 2018 $ 373 $ 146 $ 58,036 $ 163


Net investment income (loss) (2) (2) 602 —Total realized gain (loss) on investments


of investments (74) (53) (5,037) (31)Net increase (decrease) in net assets resulting from

operations (72) (33) 64 (18)Changes from principal transactions:

Total unit transactions 17 90 (8,471) (51)Increase (decrease) in net assets derived from

principal transactions 17 90 (8,471) (51)Total increase (decrease) in net assets (55) 57 (8,407) (69)Net assets at December 31, 2018 318 203 49,629 94


Net investment income (loss) (4) (1) 319 —Total realized gain (loss) on investments

and capital gains distributions 24 (3) 3,053 25Net unrealized appreciation (depreciation)

of investments 66 46 8,004 (6)Net increase (decrease) in net assets resulting from

operations 86 42 11,376 19Changes from principal transactions:


principal transactions (83) (245) (1,254) (41)Total increase (decrease) in net assets 3 (203) 10,122 (22)Net assets at December 31, 2019 $ 321 $ — $ 59,751 $ 72





Voya Government


Class I

Voya Global Bond


Voya International




Service ClassNet assets at January 1, 2018 $ 11,013 $ 11,610 $ 348 $ 3



and capital gains distributions 2 (96) 4 —Net unrealized appreciation (depreciation)

of investments — (519) (59) —Net increase (decrease) in net assets resulting from

operations 49 (313) (52) —Changes from principal transactions:

Total unit transactions (171) (973) (19) —Increase (decrease) in net assets derived from

principal transactions (171) (973) (19) —Total increase (decrease) in net assets (122) (1,286) (71) —Net assets at December 31, 2018 10,891 10,324 277 3




of investments — 372 24 —Net increase (decrease) in net assets resulting from

operations 89 687 42 —Changes from principal transactions:

Total unit transactions (1,098) (461) (61) —Increase (decrease) in net assets derived from

principal transactions (1,098) (461) (61) —Total increase (decrease) in net assets (1,009) 226 (19) —Net assets at December 31, 2019 $ 9,882 $ 10,550 $ 258 $ 3





VY® Baron Growth



Income Portfolio -

Initial Class


Global Portfolio -

Initial Class

VY® Pioneer High Yield Portfolio -

Initial ClassNet assets at January 1, 2018 $ 11,103 $ 5,049 $ 37,970 $ 1,488


Net investment income (loss) (106) 25 185 52Total realized gain (loss) on investments

and capital gains distributions 1,559 248 5,315 (16)Net unrealized appreciation (depreciation)

of investments (1,729) (755) (10,207) (88)Net increase (decrease) in net assets resulting from

operations (276) (482) (4,707) (52)Changes from principal transactions:


principal transactions (755) (560) (4,448) (199)Total increase (decrease) in net assets (1,031) (1,042) (9,155) (251)Net assets at December 31, 2018 10,072 4,007 28,815 1,237



and capital gains distributions 5,536 109 6,815 1Net unrealized appreciation (depreciation)

of investments (1,767) 545 1,827 77Net increase (decrease) in net assets resulting from

operations 3,659 676 8,472 109Changes from principal transactions:

Total unit transactions (1,240) (777) (2,874) (1,346)Increase (decrease) in net assets derived from

principal transactions (1,240) (777) (2,874) (1,346)Total increase (decrease) in net assets 2,419 (101) 5,598 (1,237)Net assets at December 31, 2019 $ 12,491 $ 3,906 $ 34,413 $ —





VY® T. Rowe Price

Diversified Mid Cap Growth



Equity Portfolio -

Initial Class



Class I


Growth Portfolio -

Class INet assets at January 1, 2018 $ 2,419 $ 16,461 $ 683 $ 1,508


Net investment income (loss) (28) (143) 7 10Total realized gain (loss) on investments

and capital gains distributions 372 3,403 39 68Net unrealized appreciation (depreciation)



Total unit transactions (411) (438) (154) (134)Increase (decrease) in net assets derived from

principal transactions (411) (438) (154) (134)Total increase (decrease) in net assets (486) (748) (183) (265)Net assets at December 31, 2018 1,933 15,713 500 1,243


Net investment income (loss) (25) (149) 7 11Total realized gain (loss) on investments

and capital gains distributions 286 3,397 31 254Net unrealized appreciation (depreciation)

of investments 390 1,169 27 (35)Net increase (decrease) in net assets resulting from


Total unit transactions (324) (5,934) (37) (350)Increase (decrease) in net assets derived from

principal transactions (324) (5,934) (37) (350)Total increase (decrease) in net assets 327 (1,517) 28 (120)Net assets at December 31, 2019 $ 2,260 $ 14,196 $ 528 $ 1,123






Class I


Class I

Voya Global Equity

Portfolio - Class S

Voya Index Plus LargeCap

Portfolio - Class I

Net assets at January 1, 2018 $ 1,522 $ 4,567 $ 50 $ 1,095



and capital gains distributions 131 456 — 110Net unrealized appreciation (depreciation)

of investments (231) (692) (7) (197)Net increase (decrease) in net assets resulting from


Total unit transactions (296) (578) — (42)Increase (decrease) in net assets derived from

principal transactions (296) (578) — (42)Total increase (decrease) in net assets (385) (799) (6) (128)Net assets at December 31, 2018 1,137 3,768 44 967


Net investment income (loss) 16 5 — 5Total realized gain (loss) on investments


of investments (8) 493 3 (119)Net increase (decrease) in net assets resulting from

operations 185 944 7 228Changes from principal transactions:

Total unit transactions (327) (817) (17) (511)Increase (decrease) in net assets derived from

principal transactions (327) (817) (17) (511)Total increase (decrease) in net assets (142) 127 (10) (283)Net assets at December 31, 2019 $ 995 $ 3,895 $ 34 $ 684






Portfolio - Class I

Voya Index Plus SmallCap

Portfolio - Class I

Voya International




Class INet assets at January 1, 2018 $ 38,242 $ 15 $ 873 $ 3,279


Net investment income (loss) 45 — 10 (11)Total realized gain (loss) on investments

and capital gains distributions 5,529 2 27 416Net unrealized appreciation (depreciation)

of investments (10,838) (4) (171) (450)Net increase (decrease) in net assets resulting from


Total unit transactions (3,499) — 17 (377)Increase (decrease) in net assets derived from

principal transactions (3,499) — 17 (377)Total increase (decrease) in net assets (8,763) (2) (117) (422)Net assets at December 31, 2018 29,479 13 756 2,857


Net investment income (loss) 141 — 14 (17)Total realized gain (loss) on investments

and capital gains distributions 3,721 2 36 549Net unrealized appreciation (depreciation)

of investments 3,452 1 87 506Net increase (decrease) in net assets resulting from

operations 7,314 3 137 1,038Changes from principal transactions:

Total unit transactions (3,931) — (137) 4,288Increase (decrease) in net assets derived from

principal transactions (3,931) — (137) 4,288Total increase (decrease) in net assets 3,383 3 — 5,326Net assets at December 31, 2019 $ 32,862 $ 16 $ 756 $ 8,183





Voya Russell™

Large Cap Index

Portfolio - Class I



Class I



Class S

Voya Russell™ Mid Cap Growth Index Portfolio -

Class SNet assets at January 1, 2018 $ 1,430 $ 6,156 $ 567 $ —




of investments (280) (824) (83) —Net increase (decrease) in net assets resulting from

operations (43) (407) (45) —Changes from principal transactions:

Total unit transactions (365) (1,160) (30) —Increase (decrease) in net assets derived from

principal transactions (365) (1,160) (30) —Total increase (decrease) in net assets (408) (1,567) (75) —Net assets at December 31, 2018 1,022 4,589 492 —




of investments 41 696 56 2Net increase (decrease) in net assets resulting from


Total unit transactions (386) (629) (57) 146Increase (decrease) in net assets derived from

principal transactions (386) (629) (57) 146Total increase (decrease) in net assets (120) 421 47 148Net assets at December 31, 2019 $ 902 $ 5,010 $ 539 $ 148





Voya Russell™ Small Cap Index Portfolio - Class I


Class I


Portfolio - Class I


Portfolio - Class S

Net assets at January 1, 2018 $ — $ 42,492 $ 9,747 $ 65


Net investment income (loss) — (165) (94) (1)Total realized gain (loss) on investments

and capital gains distributions — 6,714 901 16Net unrealized appreciation (depreciation)

of investments — (12,992) (1,598) (24)Net increase (decrease) in net assets resulting from

operations — (6,443) (791) (9)Changes from principal transactions:

Total unit transactions — (3,660) (423) 19Increase (decrease) in net assets derived from

principal transactions — (3,660) (423) 19Total increase (decrease) in net assets — (10,103) (1,214) 10Net assets at December 31, 2018 — 32,389 8,533 75


Net investment income (loss) — (185) (66) (1)Total realized gain (loss) on investments

and capital gains distributions — 4,516 948 10Net unrealized appreciation (depreciation)

of investments 4 3,545 1,471 10Net increase (decrease) in net assets resulting from

operations 4 7,876 2,353 19Changes from principal transactions:

Total unit transactions 210 (2,904) (778) (18)Increase (decrease) in net assets derived from

principal transactions 210 (2,904) (778) (18)Total increase (decrease) in net assets 214 4,972 1,575 1Net assets at December 31, 2019 $ 214 $ 37,361 $ 10,108 $ 76





Voya SmallCap


Class I


Portfolio - Class S Wanger Select

Net assets at January 1, 2018 $ 1 $ 71 $ 2


Net investment income (loss) — (1) —Total realized gain (loss) on investments

and capital gains distributions — 20 —Net unrealized appreciation (depreciation)

of investments — (44) —Net increase (decrease) in net assets resulting from

operations — (25) —Changes from principal transactions:

Total unit transactions — 54 (1)Increase (decrease) in net assets derived from

principal transactions — 54 (1)Total increase (decrease) in net assets — 29 (1)Net assets at December 31, 2018 1 100 1


Net investment income (loss) — (2) —Total realized gain (loss) on investments

and capital gains distributions — 6 —Net unrealized appreciation (depreciation)

of investments — 17 —Net increase (decrease) in net assets resulting from

operations — 21 —Changes from principal transactions:

Total unit transactions — (28) 1Increase (decrease) in net assets derived from

principal transactions — (28) 1Total increase (decrease) in net assets — (7) 1Net assets at December 31, 2019 $ 1 $ 93 $ 2





1. Organization

Variable Annuity Account I of Voya Retirement Insurance and Annuity Company (the“Account”) was established by Voya Retirement Insurance and Annuity Company(“VRIAC” or the “Company”) to support the operations of variable annuity contracts(“Contracts”). The Company is an indirect, wholly owned subsidiary of Voya Financial, Inc.(“Voya Financial”), a holding company domiciled in the State of Delaware.

Prior to May 2013, Voya Financial, which together with its subsidiaries, including theCompany, was an indirect, wholly-owned subsidiary of ING Groep N.V. ("ING"), a globalfinancial services holding company based in The Netherlands. In May 2013, Voya Financial,Inc. completed its initial public offering of common stock, including the issuance and sale ofcommon stock by Voya Financial, Inc. and the sale of shares of common stock ownedindirectly by ING. Between October 2013 and March 2015, ING completed the sale of itsremaining shares of common stock of Voya Financial, Inc. in a series of registered publicofferings.

The Account is registered as a unit investment trust with the Securities ExchangeCommission (“SEC”) under the Investment Company Act of 1940, as amended. VRIACprovides for variable accumulation and benefits under the Contracts by crediting annuityconsiderations to one or more divisions within the Account or the fixed account (aninvestment option in the Company’s general account), as directed by the contract owners.The portion of the Account’s assets applicable to Contracts will not be charged withliabilities arising out of any other business VRIAC may conduct, but obligations of theAccount, including the promise to make benefit payments, are obligations of VRIAC. Underapplicable insurance law, the assets and liabilities of the Account are clearly identified anddistinguished from the other assets and liabilities of VRIAC.

At December 31, 2019, the Account had 67 active investment divisions (the “Divisions”), 21of which invest in independently managed mutual funds and 46 of which invest in mutualfunds managed by an affiliate, Voya Investments, LLC (“VIL”). The assets in each Divisionare invested in shares of a designated fund (“Fund”) of various investment trusts (the“Trusts”).

The Divisions with asset balances at December 31, 2019 and related Trusts are as follows:

AIM Variable Insurance Funds: Federated Insurance Series: (continued)Invesco Oppenheimer V.I. Main Street Fund - Series I Federated Government Money Fund II - Service SharesInvesco V.I. Core Equity Fund - Series I Federated High Income Bond Fund II - Primary Shares

Artisan Funds, Inc.: Federated Kaufmann Fund II - Primary SharesArtisan International Fund - Investor Shares Federated Managed Volatility Fund II - Primary Shares

Calvert Variable Series, Inc.: Fidelity® Variable Insurance Products II:Calvert VP SRI Balanced Portfolio Fidelity® VIP Contrafund® Portfolio - Initial Class

EuroPacific Growth Fund®: Fidelity® VIP Index 500 Portfolio - Initial ClassEuroPacific Growth Fund® - Class R-4 Fidelity® Variable Insurance Products V:

Federated Insurance Series: Fidelity® VIP Investment Grade Bond Portfolio - Initial Class

Federated Fund for U.S. Government Securities II - Primary Shares

VARIABLE ANNUITY ACCOUNT I OF VOYA RETIREMENT INSURANCE AND ANNUITY COMPANYNotes to Financial Statements

51

Fidelity® Variable Insurance Products: Voya Partners, Inc.:Fidelity® VIP Equity-Income Portfolio - Initial Class Voya Global Bond Portfolio - Initial Class

Fidelity® VIP High Income Portfolio - Initial ClassVoya International High Dividend Low Volatility Portfolio - Initial Class

Growth Fund of America®, Inc.:Voya Solution Moderately Aggressive Portfolio - Service Class

Growth Fund of America® - Class R-4 VY® Baron Growth Portfolio - Service ClassNeuberger Berman Equity Funds®: VY® Invesco Equity and Income Portfolio - Initial Class

Neuberger Berman Sustainable Equity Fund - Trust Class Shares VY® Invesco Oppenheimer Global Portfolio - Initial Class

PIMCO Variable Insurance Trust: VY® Pioneer High Yield Portfolio - Initial Class

PIMCO VIT Real Return Portfolio - Administrative ClassVY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class

Pioneer Variable Contracts Trust: VY® T. Rowe Price Growth Equity Portfolio - Initial ClassPioneer Equity Income VCT Portfolio - Class I Voya Strategic Allocation Portfolios, Inc.:Pioneer Mid Cap Value VCT Portfolio - Class I Voya Strategic Allocation Conservative Portfolio - Class I

Voya Balanced Portfolio, Inc.: Voya Strategic Allocation Growth Portfolio - Class IVoya Balanced Portfolio - Class I Voya Strategic Allocation Moderate Portfolio - Class I

Voya Intermediate Bond Portfolio: Voya Variable Funds:Voya Intermediate Bond Portfolio - Class I Voya Growth and Income Portfolio - Class I

Voya Investors Trust: Voya Variable Portfolios, Inc.:Voya Balanced Income Portfolio - Service Class Voya Global Equity Portfolio - Class SVoya Global Perspectives® Portfolio - Class A Voya Index Plus LargeCap Portfolio - Class IVoya High Yield Portfolio - Institutional Class Voya Index Plus MidCap Portfolio - Class IVoya High Yield Portfolio - Service Class Voya Index Plus SmallCap Portfolio - Class IVoya Large Cap Growth Portfolio - Institutional Class Voya International Index Portfolio - Class IVoya Large Cap Value Portfolio - Institutional Class Voya Russell™ Large Cap Growth Index Portfolio - Class IVoya Large Cap Value Portfolio - Service Class Voya Russell™ Large Cap Index Portfolio - Class IVoya Retirement Conservative Portfolio - Adviser Class Voya Russell™ Large Cap Value Index Portfolio - Class IVoya Retirement Growth Portfolio - Adviser Class Voya Russell™ Large Cap Value Index Portfolio - Class SVoya Retirement Moderate Growth Portfolio - Adviser Class Voya Russell™ Mid Cap Growth Index Portfolio - Class SVoya Retirement Moderate Portfolio - Adviser Class Voya Russell™ Small Cap Index Portfolio - Class IVoya U.S. Stock Index Portfolio - Institutional Class Voya Small Company Portfolio - Class I

VY® BlackRock Inflation Protected Bond Portfolio - Service Class Voya Variable Products Trust:

VY® Invesco Growth and Income Portfolio - Service Class Voya MidCap Opportunities Portfolio - Class I

VY® JPMorgan Emerging Markets Equity Portfolio - Institutional Class Voya MidCap Opportunities Portfolio - Class S

VY® JPMorgan Small Cap Core Equity Portfolio - Institutional Class Voya SmallCap Opportunities Portfolio - Class I

VY® T. Rowe Price Capital Appreciation Portfolio - Service Class Voya SmallCap Opportunities Portfolio - Class S

VY® T. Rowe Price International Stock Portfolio - Service Class Wanger Advisors Trust:

Voya Money Market Portfolio: Wanger SelectVoya Government Money Market Portfolio - Class I


52

The names of certain Divisions were changed during 2019. The following is a summary ofcurrent and former names for those Divisions:

Current Name Former NameAIM Variable Insurance Funds: Oppenheimer Main Street Fund®:

Invesco Oppenheimer V.I. Main Street Fund - Series I Oppenheimer Main Street Fund®/VAVoya Investors Trust: Voya Investors Trust:

Voya Balanced Income Portfolio - Service Class VY® Franklin Income Portfolio - Service ClassVoya Partners, Inc.: Voya Partners, Inc.:

Voya International High Dividend Low Volatility Portfolio - Initial Class VY® Templeton Foreign Equity Portfolio - Initial Class

VY® Invesco Oppenheimer Global Portfolio - Initial Class VY® Oppenheimer Global Portfolio - Initial Class

During 2019, the following Divisions were closed to contract owners:

Voya Investors Trust:

Voya High Yield Portfolio - Service Class

Voya Large Cap Value Portfolio - Institutional Class

VY® JPMorgan Small Cap Core Equity Portfolio - Institutional ClassVoya Partners, Inc.:

VY® Pioneer High Yield Portfolio - Initial Class


53

2. Significant Accounting Policies

The following is a summary of the significant accounting policies of the Account:

Use of Estimates

The preparation of financial statements in conformity with accounting principles generallyaccepted in the United States requires management to make estimates and assumptions thataffect the amounts reported in the financial statements and accompanying notes. Actualresults could differ from those estimates.

Investments

Investments are made in shares of a Division and are recorded at fair value, determined bythe net asset value per share of the respective Division. Investment transactions in eachDivision are recorded on the trade date. Distributions of net investment income and capitalgains from each Division are recognized on the ex-distribution date. Realized gains andlosses on redemptions of the shares of the Division are determined on a first-in, first-outbasis. The difference between cost and current fair value of investments owned on the day ofmeasurement is recorded as unrealized appreciation or depreciation of investments.

Federal Income Taxes

Operations of the Account form a part of, and are taxed with, the total operations of VRIAC,which is taxed as a life insurance company under the Internal Revenue Code (“IRC”). Underthe current provisions of the IRC, the Company does not expect to incur federal income taxeson the earnings of the Account to the extent the earnings are credited to contract owners.Accordingly, earnings and realized capital gains of the Account attributable to the contractowners are excluded in the determination of the federal income tax liability of VRIAC, andno charge is being made to the Account for federal income taxes for these amounts. TheCompany will review this tax accounting in the event of changes in the tax law. Suchchanges in the law may result in a charge for federal income taxes. Uncertain tax positionsare assessed at the parent level on a consolidated basis, including taxes of the operations ofthe Separate Account.

Contract Owner Reserves

The annuity reserves of the Account are represented by net assets on the Statements of Assetsand Liabilities and are equal to the aggregate account values of the contract owners investedin the Account Divisions. Net assets allocated to contracts in the payout period are computedaccording to the industry standard mortality tables. The assumed investment return is electedby the annuitant and may vary from 3.5% to 5.0%. The mortality risk is fully borne by theCompany. To the extent that benefits to be paid to the contract owners exceed their accountvalues, VRIAC will contribute additional funds to the benefit proceeds. Conversely, ifamounts allocated exceed amounts required, transfers may be made to VRIAC. Prior to theannuitization date, the Contracts are redeemable for the net cash surrender value of theContracts.


54

Changes from Principal Transactions

Included in Changes from principal transactions on the Statements of Changes in Net Assetsare items which relate to contract owner activity, including deposits, surrenders andwithdrawals, benefits, and contract charges. Also included are transfers between the fixedaccount and the Divisions, transfers between Divisions, and transfers to (from) VRIACrelated to gains and losses resulting from actual mortality experience (the full responsibilityfor which is assumed by VRIAC).

Subsequent Events

The Account has evaluated all events occurring after December 31, 2019 through the date thefinancial statements were available to be issued, to determine whether any event requiredeither recognition or disclosure in the financial statements. Subsequent to December 31,2019, the spread of the COVID-19 virus caused significant financial market volatility,economic uncertainty, and interruptions to normal business activities. As of the date ofissuance of these financial statements, the full impact to the Account is unknown, but couldbe material, since the outbreak is still evolving and thus there is significant uncertainty as toits ultimate impacts on the Account.


55

3. Financial Instruments

The Account invests assets in shares of open-end mutual funds, which process orders topurchase and redeem shares on a daily basis at the fund's next computed net asset values(“NAV”). The fair value of the Account’s assets is based on the NAVs of mutual funds,which are obtained from the transfer agents or fund companies and reflect the fair values ofthe mutual fund investments. The NAV is calculated daily upon close of the New York StockExchange and is based on the fair values of the underlying securities.

The Account’s assets are recorded at fair value on the Statements of Assets and Liabilitiesand are categorized as Level 1 as of December 31, 2019 based on the priority of the inputs tothe valuation technique below. There were no transfers among the levels for the year endedDecember 31, 2019. The Account had no liabilities as of December 31, 2019.

The Account categorizes its financial instruments into a three-level hierarchy based on thepriority of the inputs to the valuation technique. The fair value hierarchy gives the highestpriority to quoted prices in active markets for identical assets or liabilities (Level 1) and thelowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fallwithin different levels of the hierarchy, the category level is based on the lowest priority levelinput that is significant to the fair value measurement of the instrument.

▪ Level 1 - Unadjusted quoted prices for identical assets or liabilities in an active market. The Account defines an active market as a market in which transactions take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

▪ Level 2 - Quoted prices in markets that are not active or valuation techniques that require inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:a. Quoted prices for similar assets or liabilities in active markets;b. Quoted prices for identical or similar assets or liabilities in non-active markets;c. Inputs other than quoted market prices that are observable; andd. Inputs that are derived principally from or corroborated by observable market data

through correlation or other means.▪ Level 3 - Prices or valuation techniques that require inputs that are both unobservable

and significant to the overall fair value measurement. These valuations, whether derived internally or obtained from a third party, use critical assumptions that are not widely available to estimate market participant expectations in valuing the asset or liability.


56

4. Charges and Fees

Under the terms of the Contracts, certain charges and fees are incurred by the Contracts tocover VRIAC’s expenses in connection with the issuance and administration of theContracts. Following is a summary of these charges and fees:

Mortality and Expense Risk Charges

VRIAC assumes mortality and expense risks related to the operations of the Account and, inaccordance with the terms of the Contracts, deducts a daily charge from the assets of theAccount. Daily charges are deducted at annual rates of up to 1.25% of the average daily netasset value of each Division of the Account to cover these risks, as specified in the Contracts.These charges are assessed through a reduction in unit values.

Asset Based Administrative Charges

A charge to cover administrative expenses of the Account is deducted at annual rates of up to0.25% of the assets attributable to the Contracts. These charges are assessed through areduction in unit values.

Contract Maintenance Charges

An annual Contract or certificate maintenance fee of up to $30 may be deducted from theaccumulation value of Contracts to cover ongoing administrative expenses, as specified in theContract. These charges are assessed through the redemption of units.

Contingent Deferred Sales Charges

For certain Contracts, a contingent deferred sales charge (“Surrender Charge”) is imposed asa percentage that ranges up to 7.00% of each premium payment if the Contract is surrenderedor an excess partial withdrawal is taken, as specified in the Contract. These charges areassessed through the redemption of units.

Fees Waived by VRIAC

Certain charges and fees for various types of Contracts may be waived by VRIAC. VRIACreserves the right to discontinue these waivers at its discretion or to conform with changes inthe law.

5. Related Party Transactions

On May 1, 2017, VIL was appointed investment adviser for these certain additional U.S.registered investment companies previously managed by Directed Services LLC (“DSL”),Voya Investors Trust and Voya Partners, Inc., which in turn caused DSL and VRIAC toterminate a separate intercompany agreement dated as of December 22, 2010 between DSLand VRIAC by which DSL had paid a portion of the revenue DSL earned as investmentadviser.


57

Management fees were paid to VIL, an affiliate of the Company, in its capacity as investmentadviser to Voya Balanced Portfolio, Inc., Voya Intermediate Bond Portfolio, Voya InvestorsTrust, Voya Money Market Portfolio, Voya Partners, Inc., Voya Strategic AllocationPortfolios, Inc., Voya Variable Funds, Voya Variable Portfolios, Inc., and Voya VariableProducts Trust. The Trusts’ advisory agreements provide for fees at annual rates rangingfrom 0.20% to 1.25% of the average net assets of each respective Fund.


58

6. Purchases and Sales of Investment Securities

The aggregate cost of purchases and proceeds from sales of investments for the year endedDecember 31, 2019 follow:

Purchases Sales(Dollars in thousands)

AIM Variable Insurance Funds:Invesco Oppenheimer V.I. Main Street Fund - Series I $ 12 $ 4Invesco V.I. Core Equity Fund - Series I 938 612

Artisan Funds, Inc.:Artisan International Fund - Investor Shares 2 0Calvert Variable Series, Inc.:Calvert VP SRI Balanced Portfolio 162 11

EuroPacific Growth Fund®:EuroPacific Growth Fund® - Class R-4 1223 3130

Federated Insurance Series:Federated Fund for U.S. Government Securities II - Primary Shares 242 179Federated Government Money Fund II - Service Shares 79 130Federated High Income Bond Fund II - Primary Shares 37 70Federated Kaufmann Fund II - Primary Shares 137 229Federated Managed Volatility Fund II - Primary Shares 421 758

Fidelity® Variable Insurance Products II:Fidelity® VIP Contrafund® Portfolio - Initial Class 4,013 3,318Fidelity® VIP Index 500 Portfolio - Initial Class 407 813

Fidelity® Variable Insurance Products V:Fidelity® VIP Investment Grade Bond Portfolio - Initial Class 2 15Fidelity® Variable Insurance Products:

Fidelity® VIP Equity-Income Portfolio - Initial Class 1772 1539Fidelity® VIP High Income Portfolio - Initial Class — —

Growth Fund of America®, Inc.:Growth Fund of America® - Class R-4 4,089 5,678

Neuberger Berman Equity Funds®:Neuberger Berman Sustainable Equity Fund - Trust Class Shares 480 356

PIMCO Variable Insurance Trust:PIMCO VIT Real Return Portfolio - Administrative Class — —

Pioneer Variable Contracts Trust:Pioneer Equity Income VCT Portfolio - Class I 2 —Pioneer Mid Cap Value VCT Portfolio - Class I — —

Voya Balanced Portfolio, Inc.:Voya Balanced Portfolio - Class I 978 1,266

Voya Intermediate Bond Portfolio:Voya Intermediate Bond Portfolio - Class I 2,829 3,790

Voya Investors Trust:Voya Balanced Income Portfolio - Service Class 17 56Voya Global Perspectives® Portfolio - Class A 2 —Voya High Yield Portfolio - Institutional Class 2,129 321Voya High Yield Portfolio - Service Class 142 842Voya Large Cap Growth Portfolio - Institutional Class 2,161 2,616Voya Large Cap Value Portfolio - Institutional Class (1) —Voya Large Cap Value Portfolio - Service Class 45 145Voya Retirement Conservative Portfolio - Adviser Class 343 12


59

Purchases Sales(Dollars in thousands)

Voya Investors Trust: (continued)Voya Retirement Growth Portfolio - Adviser Class $ 3 $ —Voya Retirement Moderate Growth Portfolio - Adviser Class — —Voya Retirement Moderate Portfolio - Adviser Class 5 2Voya U.S. Stock Index Portfolio - Institutional Class 3,856 4,294VY® BlackRock Inflation Protected Bond Portfolio - Service Class 36 18VY® Invesco Growth and Income Portfolio - Service Class 3 —VY® JPMorgan Emerging Markets Equity Portfolio - Institutional Class 26 93VY® JPMorgan Small Cap Core Equity Portfolio - Institutional Class 62 253VY® T. Rowe Price Capital Appreciation Portfolio - Service Class 6,813 4,902VY® T. Rowe Price International Stock Portfolio - Service Class 7 42

Voya Money Market Portfolio:Voya Government Money Market Portfolio - Class I 5,580 6,589

Voya Partners, Inc.:Voya Global Bond Portfolio - Initial Class 1,223 1,294Voya International High Dividend Low Volatility Portfolio - Initial Class 35 68Voya Solution Moderately Aggressive Portfolio - Service Class — —VY® Baron Growth Portfolio - Service Class 6,122 2,094VY® Invesco Equity and Income Portfolio - Initial Class 284 834VY® Invesco Oppenheimer Global Portfolio - Initial Class 5,907 3,474VY® Pioneer High Yield Portfolio - Initial Class 258 1,538VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class 292 423VY® T. Rowe Price Growth Equity Portfolio - Initial Class 4,897 7,107

Voya Strategic Allocation Portfolios, Inc.:Voya Strategic Allocation Conservative Portfolio - Class I 49 52Voya Strategic Allocation Growth Portfolio - Class I 118 366Voya Strategic Allocation Moderate Portfolio - Class I 133 366

Voya Variable Funds:Voya Growth and Income Portfolio - Class I 496 927

Voya Variable Portfolios, Inc.:Voya Global Equity Portfolio - Class S 3 18Voya Index Plus LargeCap Portfolio - Class I 111 525Voya Index Plus MidCap Portfolio - Class I 3,774 4,483Voya Index Plus SmallCap Portfolio - Class I 2 —Voya International Index Portfolio - Class I 40 163Voya Russell™ Large Cap Growth Index Portfolio - Class I 4,978 569Voya Russell™ Large Cap Index Portfolio - Class I 62 408Voya Russell™ Large Cap Value Index Portfolio - Class I 417 802Voya Russell™ Large Cap Value Index Portfolio - Class S 29 64Voya Russell™ Mid Cap Growth Index Portfolio - Class S 146 —Voya Russell™ Small Cap Index Portfolio - Class I 210 —Voya Small Company Portfolio - Class I 5,551 3,646

Voya Variable Products Trust:Voya MidCap Opportunities Portfolio - Class I 1,367 1,061Voya MidCap Opportunities Portfolio - Class S 9 19Voya SmallCap Opportunities Portfolio - Class I — —Voya SmallCap Opportunities Portfolio - Class S 16 30

Wanger Advisors Trust:Wanger Select — —


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xclu

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cap

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ains

dis

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tions

, div

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by

the

aver

age

net a

sset

s. Th

e re

cogn

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of i

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tmen

t inc

ome

is

dete

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ed b

y th

e tim

ing

of th

e de

clar

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div

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ds b

y th

e un

derly

ing

fund

in w

hich

the

Div

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n in

vest

s.C

The

Expe

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Rat

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ders

onl

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e an

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ized

con

tract

exp

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s bor

ne d

irect

ly b

y th

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xclu

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exp

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s cha

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thro

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the

rede

mpt

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of u

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is e

qual

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and

expe

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adm

inis

trativ

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ther

cha

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, as d

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the

Cha

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and

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s not

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ems i

n th

is ta

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are

pres

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d as

a ra

nge

of m

inim

um a

nd m

axim

um v

alue

s; h

owev

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uch

info

rmat

ion

is c

alcu

late

d in

depe

nden

tly fo

r eac

h co

lum

n in

the

tabl

e.D

Tota

l Ret

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is c

alcu

late

d as

the

chan

ge in

uni

t val

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h C

ontra

ct p

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in th

e St

atem

ents

of A

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s and

Lia

bilit

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Cer

tain

item

s in

this

tabl

e ar

e pr

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as a

rang

e of

min

imum

and

m

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s; h

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uch

info

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ion

is c

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the

tabl

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VA

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77

Voya.com

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January, 2020

Variable Annuity Account I - Voya Financial · Voya High Yield Portfolio – Institutional Class...

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Transcript of Variable Annuity Account I - Voya Financial · Voya High Yield Portfolio – Institutional Class...