SEC Info - Riversource Account F - ‘497VPU’ on 4/26/24

Page	(sequential)		(alphabetic)	↑Top
		Alternative Formats (Word, et al.) Appendix Contract Funds Available Under the Important Information You Should Consider About the Contract Key Terms Updated Information You Should Consider About the
1	1st Page – Filing Submission
"	Key Terms
"	Updated Information You Should Consider About the
"	Contract
"	Important Information You Should Consider About the Contract
"	Appendix
"	Funds Available Under the

RiverSource®

Group Variable Annuity Contract

Group Unallocated Deferred Combination Fixed/Variable Annuity

Issued by:	RiverSource Life Insurance Company (RiverSource Life)
	70100 Ameriprise Financial Center Minneapolis, MN 55474 Telephone: 1-800-862-7919 (Service Center) ameriprise.com/variableannuities

Updating Summary Prospectus

May 1, 2024

The Prospectus for the RiverSource Group Variable Annuity Contract (the Contract), a group unallocated deferred combination fixied/variable annuity issued by RiverSource Life Insurance Company (“RVS Life”, “we”, “us” and “our”), is available and contains more information about the Contract including its features, benefits and risks. You can find the current prospectus and other information about the Contract online at riversource.com/annuities. You can also obtain this information at no cost by calling 1-800-862-7919 or by sending an email request to riversource.annuityservice@ampf.com.

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

The Securities and Exchange Commission has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.

RiverSource Group Variable Annuity Contract — Summary Prospectus 1

Key Terms

These terms can help you understand details about your contract.

Accumulation unit: A measure of the value of each subaccount before annuity payouts begin.

Annuity payouts: A fixed amount paid at regular intervals.

Beneficiary: The person you designate to receive benefits in case of the owner’s or annuitant’s death while the contract is in force.

Close of business: The time the New York Stock Exchange (NYSE) closes (4 p.m. Eastern time unless the NYSE closes earlier).

Contract: A deferred annuity contract that permits you to accumulate money for retirement by making one or more purchase payments. It provides for lifetime or other forms of payouts beginning at a specified time in the future.

Contract anniversary: An anniversary of the effective date of this contract.

Contract value: The total value of your contract before we deduct any applicable charges.

Contract year: A period of 12 months, starting on the effective date of your contract and on each anniversary of the effective date.

Fixed account: Part of our general account to which you may allocate purchase payments. Amounts you allocate to this account earn interest at rates that we declare periodically.

Funds: A portfolio of an open-end management investment company that is registered with the Securities and Exchange Commission (the "SEC") in which the Subaccounts invest. May also be referred to as an underlying Fund.

Good order: We cannot process your transaction request relating to the contract until we have received the request in good order at our Service Center. “Good order” means the actual receipt of the requested transaction in writing, along with all information, forms and supporting legal documentation necessary to effect the transaction. To be in “good order,” your instructions must be sufficiently clear so that we do not need to exercise any discretion to follow such instructions. This information and documentation generally includes your completed request; the contract number; the transaction amount (in dollars); the names of and allocations to and/or from the subaccounts and the fixed account affected by the requested transaction; Social Security Number or Taxpayer Identification Number; and any other information, forms or supporting documentation that we may require. For certain transactions, at our option, we may require the signature of all contract owners for the request to be in good order. With respect to purchase requests, “good order” also generally includes receipt of sufficient payment by us to effect the purchase. We may,

in our sole discretion, determine whether any particular transaction request is in good order, and we reserve the right to change or waive any good order requirements at any time.

Owner (you, your): The plan sponsor or trustee of the plan.

Participant: An eligible employee or other person who is entitled to benefits under the plan.

Plan: The retirement plan under which the contract is issued and which meets the requirements of Code Sections 401 (including 401(k)) or 457. The contract will not provide any necessary or additional tax deferral because it is used to fund a retirement plan that is already tax deferred.

Retirement date: The date when annuity payouts are scheduled to begin.

Service Center: Our department that processes all transaction and service requests for the contracts. We consider all transaction and service requests received when they arrive in good order at the Service Center. Any transaction or service requests sent or directed to any location other than our Service Center may end up delayed or not processed. Our Service Center address and telephone number are listed on the first page of the prospectus.

Subaccount: A division of the Variable Account, each of which invests in one Fund.

Valuation date: Any normal business day, Monday through Friday, on which the NYSE is open, up to the time it closes. At the NYSE close, the next valuation date begins. We calculate the accumulation unit value of each subaccount on each valuation date. If we receive your purchase payment or any transaction request (such as a transfer or withdrawal request) in good order at our Service Center before the close of business, we will process your payment or transaction using the accumulation unit value we calculate on the valuation date we received your payment or transaction request. On the other hand, if we receive your purchase payment or transaction request in good order at our Service Center at or after the close of business, we will process your payment or transaction using the accumulation unit value we calculate on the next valuation date. If you make a transaction request by telephone (including by fax), you must have completed your transaction by the close of business in order for us to process it using the accumulation unit value we calculate on that valuation date. If you were not able to complete your transaction before the close of business for any reason, including telephone service interruptions or delays due to high call volume, we will process your transaction using the accumulation unit value we calculate on the next valuation date.

RiverSource Group Variable Annuity Contract — Summary Prospectus 3

Important Information You Should Consider About the Contract

	FEES AND EXPENSES			Location in Statutory Prospectus
Charges for Early Withdrawals	If you withdraw money during the first 7 years from the date of each purchase payment, you may be assessed a surrender charge of up to 6% of the purchase payment withdrawn. For example, if you make an early withdrawal, you could pay a surrender charge of up to $6,000 on a $100,000 investment.			Fee Table and Examples Charges– Withdrawal Charge
Transaction Charges	We do not assess any transaction charges.
Ongoing Fees and Expenses (annual charges)	The table below describes the current fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected.			Fee Table and Examples Expenses – Product Charges Appendix: Funds Available Under the Contract
	Annual Fee	Minimum	Maximum
	Base Contract(1)	1.03%	1.03%
	Fund options (Funds fees and expenses)(2)	0.55%	1.02%
	Optional benefits available for an additional charge	N/A	N/A
	(1) As a percentage of average daily contract value in the variable account. Includes the Mortality and Expense Fee and contract administrative charge. (2) As a percentage of Fund net assets. Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add surrender charges that substantially increase costs.
	Lowest Annual Cost: $1,414	Highest Annual Cost: $2,157
	Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Contract features and Fund fees and expenses •No sales charge •No additional purchase payments, transfers or withdrawals	Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract features and Fund fees and expenses •No additional purchase payments, transfers or withdrawals •No sales charge
	RISKS
Risk of Loss	You can lose money by investing in this Contract including loss of principal.			Principal Risks
Not a Short-Term Investment	•The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. •The Contract has withdrawal charges which may reduce the value of your Contract if you withdraw money during the surrender charge period. •The benefits of tax deferral and long-term income mean the contract is generally more beneficial to investors with a long term investment horizon.			Principal Risks Charges– Withdrawal Charge

6 RiverSource Group Variable Annuity Contract — Summary Prospectus

	RISKS	Location in Statutory Prospectus
Risks Associated with Investment Options	•An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Contract. •Each investment option, including any fixed account investment options, has its own unique risks. •You should review the investment options before making any investment decisions.	Principal Risks The Variable Account and the Funds The Fixed Account
Insurance Company Risks	An investment in the Contract is subject to the risks related to us. Any obligations (including under the Fixed Account) or guarantees and benefits of the Contract that exceed the assets of the Separate Account are subject to our claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. More information about RiverSource Life, including our financial strength ratings, is available by contacting us at 1-800-862-7919.	Principal Risks The General Account
	RESTRICTIONS
Investments	•Subject to certain restrictions, you may transfer your Contract value among the subaccounts without charge at any time before the retirement date, and once per contract year after the retirement date. •The Fixed Account is subject to certain restrictions. •We reserve the right to modify, restrict or suspend your transfer privileges if we determine that your transfer activity constitutes market timing. •We reserve the right to add, remove or substitute funds as investment options. We also reserve the right, upon notification to you, to close or restrict any funds.	ContractTransfer, Market Value Adjustment and Contract Termination – Transferring Among Accounts Substitution of Investments
Optional Benefits	•No optional benefits are offered under this Contract.
	TAXES
Tax Implications	•Consult with a tax advisor to determine the tax implications of an investment in and payments and withdrawals received under this Contract. •If you purchase the Contract through a tax-qualified plan or individual retirement account, you do not get any additional tax benefit. •Earnings under your Contract are taxed at ordinary income tax rates generally when withdrawn. You may have to pay a tax penalty if you take a withdrawal before age 59½.	Taxes
	CONFLICTS OF INTEREST
Investment Professional Compensation	Your investment professional may receive compensation for selling this Contract to you, in the form of commissions, additional cash benefits (e.g., bonuses), and non-cash compensation. This financial incentive may influence your investment professional to recommend this Contract over another investment for which the investment professional is not compensated or compensated less.	About the Service Providers
Exchanges	If you already own an annuity or insurance Contract, some investment professionals may have a financial incentive to offer you a new Contract in place of the one you own. You should only exchange a Contract you already own if you determine, after comparing the features, fees, and risks of both Contracts, that it is better for you to purchase the new Contract rather than continue to own your existing Contract.	Buying Your Contract – Contract Exchanges

RiverSource Group Variable Annuity Contract — Summary Prospectus 7

Appendix:Funds Available Under the Contract

The following is a list of funds available under the contract. More information about the funds is available in the prospectuses for the funds, which may be amended from time to time and can be found online at riversource.com. You can also request this information at no cost by calling 1-800-862-7919 or by sending an email request to riversource.annuityservice@ampf.com.

The current expenses and performance information below reflects fee and expenses of the funds, but do not reflect the other fees and expenses that your contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each fund’s past performance is not necessarily an indication of future performance.

Investment Objective	Fund and Adviser/Sub-Adviser	Current Expenses Ratio [NET]	Average Annual Total Returns (as of 12/31/2023)
Investment Objective	Fund and Adviser/Sub-Adviser	Current Expenses Ratio [NET]	1 Year	5 Year	10 Year
Seeks maximum total investment return through a combination of capital growth and current income.	Columbia Variable Portfolio - Balanced Fund (Class 3) Columbia Management Investment Advisers, LLC	0.89%	21.23%	10.83%	7.94%
Seeks to provide shareholders with capital appreciation.	Columbia Variable Portfolio - Disciplined Core Fund (Class 3) Columbia Management Investment Advisers, LLC	0.81%	24.21%	13.69%	11.02%
Seeks to provide shareholders with high total return through income and growth of capital.	Columbia Variable Portfolio - Global Strategic Income Fund (Class 3) Columbia Management Investment Advisers, LLC	0.72%1	9.81%	2.18%	0.42%
Seeks to provide shareholders with maximum current income consistent with liquidity and stability of principal.	Columbia Variable Portfolio - Government Money Market Fund (Class 3) Columbia Management Investment Advisers, LLC	0.49%1	4.61%	1.56%	0.95%
Seeks to provide shareholders with high current income as its primary objective and, as its secondary objective, capital growth.	Columbia Variable Portfolio - High Yield Bond Fund (Class 3) Columbia Management Investment Advisers, LLC	0.77%1	12.08%	5.47%	4.32%
Seeks to provide shareholders with a high level of current income while attempting to conserve the value of the investment for the longest period of time.	Columbia Variable Portfolio - Intermediate Bond Fund (Class 3) Columbia Management Investment Advisers, LLC	0.64%	6.19%	1.47%	2.12%
Seeks to provide shareholders with capital appreciation.	Columbia Variable Portfolio - Overseas Core Fund (Class 3) Columbia Management Investment Advisers, LLC	0.92%	15.47%	8.09%	3.51%
Seeks to provide shareholders with growth of capital.	Columbia Variable Portfolio - Select Mid Cap Growth Fund (Class 3) Columbia Management Investment Advisers, LLC	0.95%1	25.08%	12.93%	9.51%

8 RiverSource Group Variable Annuity Contract — Summary Prospectus

This ‘497VPU’ Filing	Date	Other Filings

	5/1/24	485BPOS
Filed on / Effective on:	4/26/24	485BPOS, 497VPU
		List all Filings

Riversource Account F – ‘497VPU’ on 4/26/24

On: Friday, 4/26/24, at 5:30pm ET · Effective: 4/26/24 · Accession #: 1193125-24-118508 · File #: 33-47302

Previous ‘497VPU’: ‘497VPU’ on 4/26/24 · Latest ‘497VPU’: This Filing

Prospectus – Variable Annuity/Life Contract – Updating Summary — Rule 497(k) — ICA’40

Filing Table of Contents

Document Table of Contents

This is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference