Registration File No. 333-___________333-____________

VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

71-0294708

One Orange Way, C2N,C2S, Windsor, Connecticut 06095-4774, 1-800-262-3862

Large accelerated filer      ¨                                             Accelerated Filer                                                                                   ¨

Non-accelerated filer        þ  (Do not check if a smaller reporting company)                           Smaller reporting company            ¨

Emerging growth company                                                                                                                                     ¨

If an emerging growth company, indicate by check mark if the registrant has elected to not use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 8(a)(2)(B) of Securities Act. ¨

CALCULATION OF THE REGISTRATION FEE

*   The proposed maximum aggregate offering price is estimated solely for the purpose of determining the registration fee. The amount to be registered and the proposed maximum offering price per unit are not applicable as these securities are not issued in predetermined amounts or units.

PART I

INFORMATION REQUIRED IN PROSPECTUS

May 1, 2021

IntroductionThe Contract.

The Voya Guaranteed Account (the “Guaranteed Account”)contract described in this prospectus is a fixed interest option available during the accumulation phase of certain variablegroup or individual, single purchase payment, modified guaranteed deferred annuity contracts (the “contracts”)contract issued by Voya Retirement Insurance and Annuity Company (“VRIAC,” (the “Company,���Company,” “we,” “us” andor “our”).This contract is no longer available for purchase. See “Purchase” in this prospectus for additional information.

Why Reading this Prospectus is Important. This prospectus contains facts about the contract that you should know before investing. The information will help you determine if the contract is right for you. Read this prospectus carefully before investingcarefully. If you do invest in the Guaranteed Account and save itcontract, retain this document for future reference.

General DescriptionHow it Works.

The Guaranteed Account offers investors an opportunityUpon purchase, you may direct your purchase payment to earn specified guaranteed rates of interest for specified periods of time, called guaranteed terms.  We generally offer severaldifferent guaranteed terms at any one time for those considering investing in the Guaranteed Account.  The number of guaranteed terms offered may vary by state, we may not offer all guaranteed terms on all contracts,ranging up to and the rates for a given guaranteed term may vary among contracts.including ten years. Each guaranteed term offers ahas its own guaranteed interest rate for investments that remainrate. When the guaranteed term(s) end, you can reinvest in the Guaranteed Account for the duration of the specific guaranteed term.  Theanother guaranteed term, establishes both the length of time for which we agree to credit a guaranteed interest rate and how longbegin receiving income phase payments, or withdraw your investment must remain in the Guaranteed Account in order to receive the guaranteed interest rate.full account value.

We guarantee both principal and interest if, and only if,Withdrawals. You may withdraw all or part of your investment remains invested for the full guaranteed term.  Charges related to the contract, such as a maintenance fee or early withdrawal charge, may still apply even if you do not withdraw until the end of a guaranteed term.accumulated funds at any time. Investments taken out of the Guaranteed AccountWithdrawals prior to the end of a guaranteed term may be subject to a market value adjustment which may result in an investment gain or loss.and certain fees. Upon a full withdrawal, you could, therefore, receive less than your purchase payment. See the “Market ValueAdjustment (MVA).” section and the “Fees” section in this prospectus for additional information.

PLEASE REFER TO PAGE 74 OF THIS PROSPECTUS FOR A DISCUSSION OF THE RISK FACTORS ASSOCIATED WITH THE CONTRACT.

Premium Bonus Option.  If the premium bonus option is available under your contract and you elect that option, we will credit a premium bonus to your contract for each purchase payment you make during the first account year.  There is an additional charge for this option during the first seven account years.  For amounts allocated to the Guaranteed Account, the assessment of this charge will result in a reduction in the interest which would have been credited to your account during the first seven account years if you had not elected the premium bonus option.  Therefore, the fees you will pay if you elect the premium bonus option will be greater than the fees you will pay if you do not elect the premium bonus option.  The premium bonus option may not be right for you if you expect to make additional purchase payments after the first account year or if you anticipate that you will need to make withdrawals during the first seven account years.  In these circumstances the amount of the premium bonus option charge may be more than the amount of the premium bonus we credit to your contract.  See the “Premium Bonus Option - Suitability” section of the contract prospectus.  The premium bonus option may not be available under all contracts or in all states.

This prospectus will explain:

·Guaranteed interest rates and guaranteed terms;

·Contributions to the Guaranteed Account;

·Types of investments available;

·How rates are offered;

·How there can be an investment risk and how we calculate gain or loss;

·Contract charges that can affect your account value in the Guaranteed Account;

·Taking investments out of the Guaranteed Account; and

·How to reinvest or withdraw at maturity.

Additional Disclosure InformationInformation.

Neither the Securities and Exchange Commission (“SEC”) nor any state securities commission has approved or disapproved of these securities or passed on the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. We do not intend for this prospectus to be an offer to sell or a solicitation of an offer to buy these securities in any state or jurisdiction that does not permit their sale. We have not authorized anyone to provide you with information that is different thanfrom that contained in this prospectus. The Guaranteed Accountcontract described in this prospectus is not a deposit with, obligation of, or guaranteed or endorsed by any bank, nor is it insured by the Federal Deposit Insurance Corporation (“FDIC”).

We pay compensation to broker/dealers whose registered representatives sell the contract. See “Other Topics – Contract Distribution,” for further information about the amount of compensation we pay.

Page

CONTRACT OVERVIEW....................................................................... 3

GUARANTEED TERMS AND GUARANTEED INTEREST RATES.. 5

YOUR CHOICES AT THE END OF A GUARANTEED TERM........... 7

PURCHASE.............................................................................................. 8

RIGHT TO CANCEL................................................................................ 9

FEES.......................................................................................................... 9

WITHDRAWALS................................................................................... 11

SYSTEMATIC DISTRIBUTION OPTIONS......................................... 12

MARKET VALUE ADJUSTMENT...................................................... 13

DEATH BENEFIT.................................................................................. 14

INCOME PHASE.................................................................................... 15

INVESTMENTS..................................................................................... 17

FEDERAL TAX CONSIDERATIONS.................................................. 18

OTHER TOPICS..................................................................................... 30

APPENDIX I – Calculating a Market Value Adjustment...................... I-1

Page

summary...................................................................................................................... 4

RISK FACTORS............................................................................................................... 7

description of the guaranteed account................................................... 8

transfers.................................................................................................................. 10

withdrawals........................................................................................................... 11

MARKET VALUE ADJUSTMENT (“mva”)............................................................... 11

contract charges................................................................................................ 13

other topics............................................................................................................. 14

inquiries..................................................................................................................... 17

APPENDIX I – Examples of Market Value Adjustment Calculations............................ I-1

APPENDIX II – Examples of Market Value Adjustment Yields................................... II-1

The Guaranteed Account is a fixed interest option that may be available during the accumulation phase of your variable annuity contract.  The following is intended as a summarysummary. Please read each section of certain facts about the Guaranteed Account.

In General.  Amounts that you invest in the Guaranteed Account will earn a guaranteed interest rate if left in the Guaranteed Accountthis prospectus for a specified period of time (the guaranteed term).  You must invest amounts in the Guaranteed Account for the full guaranteed term in order to receive the quoted guaranteed interest rate.  If you withdraw or transfer those amounts before the end of the guaranteed term, we may apply a “market value adjustment,” which may be positive or negative.additional detail.

Questions:  Contacting the Company.To answer your questions, contact your local representative or write or call Customer Service at:

Voya Retirement Insurance and Annuity Company

P.O. Box 9271

Des Moines, IA 50306-9271

1-800-531-4547

Deposit Periods.Contract Design

The contract described in this prospectus is a group or individual, single purchase payment, modified guaranteed deferred annuity contract issued by Voya Retirement Insurance and Annuity Company. It is intended to be used as a retirement savings vehicle that allows you to invest in fixed interest options in order to help meet long-term financial goals.

Who’s Who

The contract holder (“you”):  A deposit period isThe person to whom we issue an individual contract or a certificate under a group contract. We may also refer to the time during which we offer a specific guaranteed interest rate if you deposit dollars for a specific guaranteed term.  For a particular guaranteed interest rate and guaranteed term to apply to your account dollars, you must invest them duringcontract holder as the deposit period in which that rate and term are offered.contract owner.

Guaranteed Terms.The Company (“we,” “us” or “our”):  A guaranteed term isVoya Retirement Insurance and Annuity Company. We issue the period of time account dollars must be left in the Guaranteed Account in order to earn the guaranteed interest rate specified for that guaranteed term.  We offer different guaranteed terms at different times.  We may also offer more than one guaranteed term of the same duration with different guaranteed interest rates.  Check with your local representative or the Company to learn the details about the guaranteed term(s) currently offered.  We reserve the right to limit the number of guaranteed terms or the availability of certain guaranteed terms.  The number of guaranteed terms offered may vary by state, we may not offer all guaranteed terms on all contracts, and the rates for a given guaranteed term may vary among contracts.contract.

Guaranteed Interest Rates.The contract:  We guarantee different interest rates, depending upon when account dollarsBoth individual contracts and certificates under a group contract are investedreferred to in this prospectus as the Guaranteed Account.  For guaranteed terms one year or longer, we may offer different rates for specified time periods within a guaranteed term.  The interest rate we guarantee is an annual effective yield; that means that the rate reflects a full year’s interest.  We credit interest at a rate that will provide the guaranteed annual effective yield over one year.  The guaranteed interest rate(s) is guaranteed for that deposit period and for the length of the guaranteed term.contract.

The guaranteed interest rates we offer will always meet or exceed the minimum interest rates agreed to in the contract.  Apart from meeting the contractual minimum interest rates, we cannot guarantee any aspect of future offerings.Contract Phases

Fees and Other Deductions.The Accumulation Phase  We do not make deductions from amounts in the Guaranteed Account to cover mortality and expense risks.  We consider these risks when determining the credited rate.  The following other types of charges may be deducted from amounts held in, withdrawn or transferred from the Guaranteed Account:

·     Market Value Adjustment (“MVA”).At Investment. An MVAUpon purchase, you may be applieddirect your purchase payment to amounts transferreddifferent guaranteed terms ranging up to and including ten years. Each guaranteed term has its own guaranteed interest rate. Generally, your purchase payment will earn interest at the guaranteed interest rate(s) for the duration of the guaranteed term(s) you select. If you withdraw or withdrawntransfer amounts prior to the end of a guaranteed term, which reflects changes in interest rates since the deposit period.  The MVAthose amounts may be positive or negativesubject to a market value adjustment and therefore may increase or decrease the amount withdrawn to satisfy a transfer or withdrawal request.certain fees. See “Market Value Adjustment (“MVA”)” and “Fees.”

·     Tax Penalties and/or Tax Withholding.At Maturity.   Amounts withdrawnWe will notify you at least 18 days before the guaranteed term ends. If you do not make any election before the guaranteed term ends, we will automatically renew the contract for a guaranteed term of the same or similar duration. If you do not want to automatically renew, contact us before the guaranteed term ends. Prior to the end of a guaranteed term, you can elect to reinvest in a different guaranteed term, begin income phase payments, or withdraw the full amount available at maturity.

The Income Phase

You may be subject to withholding for federalstart receiving income taxes, as well as a 10% penalty tax for amounts withdrawn prior to your having attained age 59½.phase payments any time after the first year of the contract. Several payment options are available. See “Other Topics – FEDERAL Tax CONSIDERATIONSIncome Phase;.” see also the “FEDERAL Tax CONSIDERATIONS” sectionIn general, you may receive payments for a specified period of the contract prospectus.time or for life; receive payments monthly, quarterly, semi-annually or annually; and select an option that provides a death benefit to beneficiaries.

Contract Facts

·

Early Withdrawal Charge.Free Look/Right to Cancel:  An early withdrawal charge, which is a deferred sales charge,You may apply to amounts withdrawn fromcancel the contract in order to reimburse us for somewithin ten days of the sales and administrative expenses associated with the contract.receipt (or as otherwise provided by state law). See “Contract ChargesRight to Cancel;.” see also the “Fees” section of the contract prospectus.

·

Maintenance Fee.Death Benefit:  A maintenance feebeneficiary may receive a benefit in the event of up to $30 may be deducted, on an annual basis, pro-rata from all funding options includingyour death during both the Guaranteed Account.accumulation and income phases (described in “Contract Phases,” above). The availability of a death benefit during the income phase depend upon the payment option selected. See “Contract ChargesDeath Benefit;” see also theand “FeesIncome PHASE.” section of the contract prospectus.

·

Transfer Fees.Withdrawals:  During the accumulation phase, transfer feesyou may withdraw all or part of up to $10 per transferyour account value. Amounts withdrawn may be deducted from amounts held in or transferred from the Guaranteed Account.subject to a market value adjustment, early withdrawal charge, maintenance fee, tax withholding and taxation. See “Contract ChargesMarket Value Adjustment;,” see also the “Fees” section of the contract prospectus.

·Premium Taxes.  We may deduct a charge for premium taxes of up to 4% from amounts in the Guaranteed Account.  See “Contract Charges;” see also the “Fees” section of the contract prospectus.

·Premium Bonus Option Charge.  If the premium bonus option is available under your contract and elected by you at the time of application, a charge will be deducted from amounts allocated to the Guaranteed Account, resulting in a 0.50% reduction in the interest which would have been credited to your account during the first seven account years if you had not elected the premium bonus option.  See “Contract Charges;” see also the “Fee TablesWithdrawals,” “Fees” and “Premium Bonus OptionFederal Tax Considerations.”

Systematic Distribution Options:  You may elect to receive regular payments from your account, while retaining the account in the accumulation phase. See “Systematic Distribution Options.” sections

Fees:  Certain fees may be deducted from your account value. See “Fees.”

Taxation:  You will not generally pay taxes on any earnings from the annuity contract described in this prospectus until they are withdrawn. Tax-qualified retirement arrangements (e.g., IRAs) also defer payment of taxes on earnings until they are withdrawn. If you are considering funding a tax-qualified retirement arrangement with an annuity contract, you should know that the annuity contract prospectus.does not provide any additional tax deferral of earnings beyond the tax deferral provided by the tax-qualified retirement arrangement. However, annuities do provide other features and benefits which may be valuable to you. You should discuss your alternatives with your financial representative.

Taxes will generally be due when you receive a distribution. Tax penalties may apply in some circumstances. See “Federal Tax Considerations.”

Market Value Adjustment (“MVA”).: If you withdraw or transfer all or part of your account value from the Guaranteed Account before a guaranteed term is complete,completed, an MVA may apply. The MVA reflects the change in the value of the investment due to changes in interest rates since the date of deposit.  The MVAinvestment, and may be positive or negative depending upon interest rate activity at the time of withdrawal or transfer.

An MVA will not apply to:

·Amounts transferred or withdrawn at the end of a guaranteed term;

·Transactions made under the maturity value transfer provision;

·Transfers due to participation in the dollar cost averaging program (negative. seeSee “Market Value Adjustment” for certain restrictions);

·Amounts distributed under a systematic distribution option (see “Systematic Distribution Options” in the contract prospectus);

·Withdrawals for minimum distributions required by the Internal Revenue Code of 1986, as amended (Tax Code), and for which the early withdrawal charge is waived; and

·Withdrawals due to your exercise of the right to cancel your contract.  See the “Right to Cancel” section of the contract prospectus.

MVAs applied to withdrawals or transfers from the Guaranteed Account will be calculated as an “aggregate MVA,” which is the sum of all MVAs applicable due to the withdrawal (see the “Market Value Adjustment (“MVA”)” section of this prospectus for an example of the calculation of the aggregate MVA).  The following withdrawals will be subject to an aggregate MVA only if it is positive:

·Withdrawals due to the election of a lifetime income option; and

·Unless otherwise noted, payment of a guaranteed death benefit (if paid within the first six months following death).

All other withdrawals will be subject to an aggregate MVA, regardless of whether it is positive or negative, including:

·Withdrawals due to the election of a nonlifetime income option;

·Payment of a guaranteed death benefit due to the death of a spousal beneficiary or a joint contract holder who continued the account in his or her name after the death of the other joint contract holder;

·Payment of a guaranteed death benefit more than six months after the date of death (except under certain contracts issued in the State of New York); and

·Full or partial withdrawals during the accumulation phase (an MVA may not apply in certain situations, see “Market Value Adjustment (“MVA”)”).

See “Description of the Guaranteed Account” and “Market Value Adjustment (“MVA”).”

Risk Factors

Maturity of a Guaranteed Term.  On or beforePurchasing the end of a guaranteed term, you may instruct us to:

·Transfer the matured amount to one or more new guaranteed terms available under the current deposit period;

·Transfer the matured amount to other available investment options; or

·Withdraw the matured amount.

Amounts withdrawn may be subject to an early withdrawal charge, a maintenance fee, tax withholding and, if you are under age 59½, tax penalties.  Withdrawals may also result in the forfeiture of all or a part of any premium bonus credited to the Guaranteed Account.  See “Description of the Guaranteed Account - Maturity of a Guaranteed Term;” see also the “Premium Bonus Option - Forfeiture” and “Withdrawals” sections of the contract prospectus.

See “Contract Charges;” see also the “Fees” and “FEDERAL Tax CONSIDERATIONS” sections of the contract prospectus.

When a guaranteed term ends, if we have not received instructions from you, we will automatically reinvest the maturing investment into a new guaranteed term of similar length (see “Description of the Guaranteed Account - Maturity of a Guaranteed Term”and “Maturity Value Transfer Provision”).  If the same guaranteed term is no longer available, the next shortest guaranteed term available in the current deposit period will be used.  If no shorter guaranteed term is available, the next longest guaranteed term will be used.

If you do not provide instructions concerning the maturing amount on or before the end of a guaranteed term, and this amount is automatically reinvested as noted above, the maturity value transfer provision will apply.

Maturity Value Transfer Provision.  This provision allows transfers or withdrawals of amounts automatically reinvested at the end of a guaranteed term without an MVA, if the transfer or withdrawal occurs during the calendar month immediately following a guaranteed term maturity date.  As described in “Fees and Other Deductions” above, other fees, including an early withdrawal charge and a maintenance fee, may be assessed on amounts withdrawn.  See “Description of the Guaranteed Account - Maturity Value Transfer Provision.”

Transfer of Account Dollars.  Generally, account dollars invested in the Guaranteed Account may be transferred among guaranteed terms offered through the Guaranteed Account and/or to other investment options offered through the contract.  However:

·Transfers may not be made during the deposit period in which your account dollars are invested in the Guaranteed Account or for 90 days after the close of that deposit period; and

·We may apply an MVA to transfers made before the end of a guaranteed term.

Investments.  Guaranteed interest rates credited during any guaranteed term do not necessarily relate to investment performance.  Deposits received into the Guaranteed Account will generally be invested in federal, state and municipal obligations, corporate bonds, preferred stocks, real estate mortgages, real estate, certain other fixed income investments and cash or cash equivalents.  All of our general assets are available to meet guarantees under the Guaranteed Account.

Amounts allocated to the Guaranteed Account are held in a nonunitized separate account established by the Company under Connecticut law.  To the extent provided for in the contract, assets of the separate account are not chargeable with liabilities arising out of any other business that we conduct.  See “Investments.”

Notification of Maturity.  We will notify you at least 18 calendar days prior to the maturity of a guaranteed term.  We will include information relating to the current deposit period’s guaranteed interest rates and the available guaranteed terms.  You may obtain information concerning available deposit periods, guaranteed interest rates and guaranteed terms by telephone 1-800-531-4547.  See “Description of the Guaranteed Account - General” and “Description of the Guaranteed Account - Maturity of a Guaranteed Term.”

Allocating contract value to the Guaranteed Account involves certain risks as noted below. You should also carefully consider your personal tax situation before you invest in the Guaranteed Account.purchase a contract. See “OTHER TOPICS – Federal Tax ConsiderationsFEDERAL TAX CONSIDERATIONS” and discuss your personal tax situation with a tax and/or legal adviser for information about the tax treatment of amounts invested in the Guaranteed Account.contract.

Liquidity Risk.Risk – The Guaranteed Accountcontract is designed for long-term investment and your purchase paymentspayment should be invested in the Guaranteed Accountcontract for at least the length of the early withdrawal charge period under the contract.  A freeperiod. The special withdrawal percentage or other waiver, if available under the contract, maydoes provide some liquidity. However, if you withdraw more than the freespecial withdrawal percentage, if available, or a waiver of the charge does not apply, an early withdrawal charge may apply, which in combination with the Market Value Adjustment, could result in the loss of principal and earnings. Because the Guaranteed Accountcontract provides only limited liquidity during the early withdrawal charge period, it is not suitable for short-term investment.

Fees.Fees – Your amount invested in the Guaranteed Accountaccount value may be impacted by a Market Value Adjustment, the early withdrawal charge, maintenance fee, transfer fees, premium taxes, taxes,Market Value Adjustment, and if the premium bonus option is available under your contract, the premium bonus charge.taxes. These fees and other deductions could result in you receiving less than your investment in the Guaranteed Account.  

If the premium bonus option is available under your contract and you elect that option, premium bonus amounts invested in the Guaranteed Account will be subject to an additional charge during the first seven contract years.  This premium bonus charge will result in a reduction in the interest which would have been credited to those amounts during the first seven contract years, and the premium bonus charge may exceed the amount of the premium bonus credited to your contract.  See the “PREMIUM BONUS OPTION – SUITABILITY” section of the contract prospectus for more information.purchase payment.

Early Withdrawal Charge.Charge – An early withdrawal charge may apply to certain withdrawals of all or a portion of your investment in the Guaranteed Account.account value. The early withdrawal charge is designed to recover some of our sales and administrative costs associated with the contract. Any early withdrawal charge, in combination with the MVA, could result in the loss of principal and earnings. You bear the risk that you may receive less than your investment in the Guaranteed Account.purchase payment.

The Market Value Adjustment (“MVA”).– AAn MVA may apply to surrenders and early withdrawals transfers or other transactions associated with the Guaranteed Account.contract. We use the MVA to protect us from the risk that we will suffer a loss should we need to liquidate the investments we use to support the guaranteed interest rates that we offer in order to pay you the amount requested. The MVA may be negative, positive or result in no change. The MVA is generally negative when interest rates in the current market are higher than at the guaranteed interest rates for the guaranteed terms in which you are invested. At the time of any transaction triggering aan MVA, in the event that interest rates in the current market are higher, you bear the risk that you may receive less than your investment in the Guaranteed Account.purchase payment.

Interest Rate Risk.Risk – The minimum guaranteed interest rate associated with any applicable guaranteed term will never be less than the rate stated in your contract. We will periodically determine the interest rates we offer in excess of the guaranteed minimum interest rate in our sole discretion. We have no specific formula for determining the rate of interest we will declare in the future. The interest rates we declare are influenced by, but do not necessarily correspond with, interest rates available on the type of debt instruments in which we intend to invest amounts attributable to the Guaranteed Account.contract. We cannot predict the level of future interest rates.

Investment Risk.Risk – The Guaranteed Account’scontract’s investment risk and return characteristics are similar to those of a zero coupon bond or certificate of deposit. Your account value maintained in the Guaranteed Account through the end of a guaranteed term provides a fixed rate of return. The Company guarantees principal and credited interest only when held for the length of the guaranteed term. Otherwise, an early withdrawal charge may apply, which in combination with the MVA, could result in the loss of principal and earnings. You bear the risk that you may receive less than your investment in the Guaranteed Account.purchase payment.

Financial Strength.Strength – All guarantees under the Guaranteed Accountcontract are subject to the financial strength and claims paying ability of the Company.

The contract offers fixed interest options called guaranteed terms. On the application or enrollment form, you select the guaranteed term(s) you want to invest in from among the guaranteed terms we offer at that time. Your purchase payment earns interest at the guaranteed interest rate applicable to that guaranteed term.

GeneralGuaranteed Terms

The Start Date. Guaranteed Account offersterms always start on the first business day of the month.

Length. Guaranteed terms are offered at our discretion for various lengths of time ranging up to and including ten years.

Minimum Payments. Your single purchase payment must be at least $10,000. You may divide your single purchase payment among any of the various guaranteed terms we offer, but you must invest at least $1,000 in any single guaranteed term.

Guaranteed Interest Rates.  We state the guaranteed interest rates for specificas an effective annual rate of return. In other words, we credit the interest you earn on your purchase payment at a rate that provides the guaranteed terms.  Forrate of return over a particularone-year period, assuming you make no withdrawals. Guaranteed interest rates will never be less than the minimum guaranteed interest rate andstated in the contract. We reserve the right to offer, from time to time, guaranteed terminterest rates to applyprospective investors that are higher than those offered to your account dollars, you must invest them during the deposit period in which that rate and term are offered.  Forcurrent contract holders with respect to guaranteed terms of one year or longer, we may offer different interest rates for specified time periods within a guaranteed term.  We may also offer morethe same duration.

One Guaranteed Term/Multiple Guaranteed Interest Rates. More than one guaranteed interest rate may be applicable during a guaranteed term greater than one year. For example, a guaranteed term of five years may apply one guaranteed interest rate for the same duration withfirst year, a different guaranteed interest rates.

An MVArate for the next two years, and a third guaranteed interest rate for the last two years. You may be applied to any values withdrawn or transferred fromnot select a guaranteed term prior to the end of thatwith multiple guaranteed term, except for amounts transferred under the maturity value transfer provision, amounts transferred under the dollar cost averaging program, amounts withdrawn under a systematic distribution option, amounts withdrawn for minimum distributions required by the Tax Code and withdrawals due tointerest rates if your exercise of the right to cancel your contract.

MVAs applied to withdrawals or transfers from the Guaranteed Account will be calculated as an “aggregate MVA,” whichcontract is the sum of all MVAs applicable due to the withdrawal (see the “Market Value Adjustment (“MVA”)” section of this prospectus for an example of the calculation of the aggregate MVA).  The following withdrawals will be subject to an aggregate MVA only if it is positive:

·Withdrawals due to the election of a lifetime income option; and

·Unless otherwise noted, payment of a guaranteed death benefit (if paid within the first six months following death).

All other withdrawals will be subject to an aggregate MVA, regardless of whether it is positive or negative, including:

·Withdrawals due to the election of a nonlifetime income option;

·Payment of a guaranteed death benefit due to the death of a spousal beneficiary or a joint contract holder who continued the account in his or her name after the death of the other joint contract holder;

·Payment of a guaranteed death benefit more than six months after the date of death (except under certain contracts issued in the State of New York);York.

Example of Interest Crediting at the Guaranteed Interest Rate. The example below shows how interest is credited during a guaranteed term. The hypothetical guaranteed interest rate used in this example is illustrative only and is not intended to predict future guaranteed interest rates to be offered under the contract. Actual guaranteed interest rates offered may be more or less than those shown. The example assumes no withdrawals of any amount during the entire seven-year guaranteed term illustrated. The example does not reflect any market value adjustment, federal income taxes, possible tax penalties, or deductions of any early withdrawal charge, premium taxes, or maintenance fees. See “Withdrawals,” “Market Value Adjustment,” “Fees” and “Federal TaxConsiderations.”

Example:

Purchase payment:  $20,000.00

Guaranteed term:  7 years

Guaranteed interest rate:  6.00% per year

The guaranteed interest rate is applied in this example by using the formula:

1 + the guaranteed interest rate = 1.06

Total interest credited in guaranteed term = $10,072.61 ($30,072.61 - $20,000.00)

You may invest in the guaranteed terms available in the current deposit period by allocating new payments to the Guaranteed Account or by transferring a sum from other funding options available under the contract or from other guaranteed terms of the Guaranteed Account, subject to the transfer limitations described in the contract.  We may limit the number of guaranteed terms you may select.  Currently, if the dollar cost averaging program is in effect in a guaranteed term and you wish to add an additional deposit to be dollar cost averaged, all amounts to be dollar cost averaged will be combined and the dollar cost averaging amount will be recalculated.  This will affect the duration of amounts in the guaranteed term.selected.

You may cancel the total numbercontract within ten days of investment options you may select at any one time during the lifereceiving it (or as otherwise provided by state law) by returning it to Customer Service along with a written notice of cancellation. We will issue a refund within seven days of our receipt of the contract and written notice of cancellation. The refund will equal the amount of your purchase payment.

The fees and charges we assess and the deductions we make under the contract are in consideration for:  (i) the services and benefits we provide; (ii) the costs and expenses we incur; and (iii) the risks we assume. The fees and charges deducted under the contract may result in a profit to us.

The following fees and other deductions may impact your account value:

·Early Withdrawal Charge (see below);

·Maintenance Fee (see below);

·Premium Taxes (see below);

·Market Value Adjustment (see“Market Value Adjustment”); and

·Taxation (see“Federal Tax Considerations”).

Early Withdrawal Charge

Withdrawals of all or a portion of your account value may be subject to a charge. In the case of a partial withdrawal where you request a specified dollar amount, the amount withdrawn from your account will be the amount you specified plus adjustment for any applicable early withdrawal charge.

Amount. The amount is a percentage of the purchase payment you withdraw. The percentage will be determined by the early withdrawal charge schedule below.

Purpose. This is a deferred sales charge. It reimburses some of our sales and administrative expenses associated with the contract.

Early Withdrawal Charge Schedule:

How We Apply the Schedule. For purposes of determining any limit, each guaranteed term counts as one investment option.  Although we may require a minimum payment(s) to a contract, we do not require a minimum investment for aapplying the early withdrawal charge, all time periods are measured from the date your purchase payment is credited, even if you reinvest all or part of your account value in another guaranteed term. ReferOnce the early withdrawal charge declines to 0%, it no longer applies, regardless of how long you own the contract prospectus.  There is a $500 minimum for transfers from other funding options.contract.

Investments mayThe early withdrawal charge applies only to withdrawals of your purchase payment. However, for the purposes of this charge, we assume you are withdrawing all or part of your purchase payment first (not your earnings). This assumption is not be transferred from a guaranteed term during the deposit period in which the investment is applied or during the first 90 days after the close of the deposit period.  This restriction does not apply to amounts transferred or withdrawn under the maturity value transfer provision, to amounts transferred under the dollar cost averaging program or, in some situations, withdrawn because you discontinued the dollar cost averaging program, or to amounts distributed under a systematic distribution option.made for tax purposes. See “Maturity Value Transfer Provision” and “TransfersFederal Tax Considerations.”

Deposit Period

The deposit period is the period of time during which you may direct investments to a particular guaranteed term(s) and receive a stipulated guaranteed interest rate(s).  Each deposit period may be a month, a calendar quarter or any other period of time we specify.

Guaranteed Terms

A guaranteed term is the time we specify during which we credit the guaranteed interest rate.  We offer guaranteed terms at our discretion for various periods ranging up to and including 10 years.  We may limit the number of guaranteed terms you may select and may require enrollment in the dollar cost averaging program.

Guaranteed Interest Rates

Guaranteed interest rates are the rates that we guarantee will be credited on amounts applied during a deposit period for a specific guaranteed term.  We may offer different guaranteed interest rates on guaranteed terms of the same duration.  Guaranteed interest rates are annual effective yields, reflecting a full year’s interest.  We credit interest at a rate that will provide the guaranteed annual effective yield over one year.  Guaranteed interest rates are credited according to the length of the guaranteed term as follows:

·Guaranteed Terms of One Year or Less.  The guaranteed interest rate is credited from the date of deposit to the last day of the guaranteed term.

·Guaranteed Terms of Greater than One Year.  Except for those contracts or certificates issued in the State of New York, several different guaranteed interest rates may be applicable during a guaranteed term of more than one year.  The initial guaranteed interest rate is credited from the date of deposit to the end of a specified period within the guaranteed term.  We may credit several different guaranteed interest rates for subsequent specific periods of time within the guaranteed term.  For example, for a five-year guaranteed term we may guarantee 7% for the first year, 6.75% for the next two years and 6.5% for the remaining two years.  We reserve the right, however, to apply one guaranteed interest rate for an entire guaranteed term.

·We will not guarantee or credit a guaranteed interest rate below the minimum rate specified in the contract, nor will we credit interest at a rate above the guaranteed interest rate we announce prior to the start of a deposit period.  Our guaranteed interest rates are influenced by, but do not necessarily correspond with, interest rates available on fixed income investments we may buy using deposits directed to the Guaranteed Account (see “Other Topics - Investments”).  We consider other factors when determining guaranteed interest rates including regulatory and tax requirements, sales commissions and administrative expenses borne by the Company, general economic trends and competitive factors.  We make the final determination regarding guaranteed interest rates.  We cannot predict the level of future guaranteed interest rates.

Maturity of a Guaranteed Term.Example.   At least 18 calendar days prior toAssume the maturity of afirst guaranteed term we will notify you select is for five years. Further assume that at the end of this five-year guaranteed term, you decide to reinvest your account value for another guaranteed term of four years. Assume you then make a withdrawal (but not a special withdrawal, as described below) during the second year of the upcoming deposit period, the projectednew guaranteed term. Because six years have passed since your purchase payment was credited, you would pay a 2% early withdrawal charge, even though you could have withdrawn all or part of your account value of the amount maturing at the end of the first five-year guaranteed term andwithout paying an early withdrawal charge. See “Waiver of Charge,” below. However, if you make a withdrawal during the third year of the new guaranteed interest rate(s) and guaranteed term(s) available for the current deposit period.term, or anytime thereafter, you would pay no early withdrawal charge, because seven years would have passed since your purchase payment was credited.

When a guaranteed term matures,Special Withdrawals. After 12 months from the amountscontract effective date, you may make one withdrawal equal to 10% or less of your account value during any calendar year, valued at the time we receive your withdrawal request in writing, and we will not deduct any maturing guaranteed term may be:

·Transferredearly withdrawal charge. This special withdrawal is subject to a new guaranteed term(s), if available under the contract;following restrictions:

·     TransferredIt applies only to anythe first withdrawal each calendar year;

·All subsequent withdrawals that calendar year are subject to an early withdrawal charge, even if you did not withdraw the full 10% with your first withdrawal; and

·If your first withdrawal of the allowable investment options available undercalendar year is in excess of 10% of your account value, the contract; orexcess amount is subject to an early withdrawal charge.

Waiver of Charge. The early withdrawal charge is waived for amounts that are:

·     Withdrawn fromat the contract.

We do not apply an MVA to amounts transferred or withdrawn fromend of a guaranteed term, onprovided that at least five days prior to the date theend of that guaranteed term matures.  Amounts withdrawn, however, maywe receive your withdrawal request in writing. (If you reinvest those amounts in another guaranteed term, future withdrawals will be subject to an early withdrawal charge as described above.);

·A full surrender of the account, where the current value of the account is $2,500 or less, provided that no withdrawal has been made from your account during the prior 12 months;

·Withdrawn due to your election of a maintenance fee, taxation and,systematic distribution option (see “SYSTEMATIC DISTRIBUTION OPTIONS”); or

·Withdrawn due to an involuntary termination. This may occur if the contract holderyour account value is under age 59½, tax penalties.  Withdrawals may also result in the forfeiture of all or part of any premium bonus credited to the Guaranteed Account.less than $2,500. See the “Premium Bonus Option - ForfeitureOther Topics ‒” and “Involuntary TerminationsWithdrawals.” sections of the contract prospectus.

Nursing Home Waiver. If we have not received direction from you by the maturity date of a guaranteed term, we will automatically transfer the matured term value to a new guaranteed term of similar length.  If the same guaranteed term is no longer available, the next shortest guaranteed term availableapproved in the current deposit period will be used.  If no shorter guaranteed term is available, the next longest guaranteed term will be used.

Under the Guaranteed Account, each guaranteed term is counted as one funding option.  If a guaranteed term matures, and is renewed for the same term, it will not count as an additional investment option for purposes of any limitation on the number of investment options.

You will receive a confirmation statement, plus information on the new guaranteed rate(s) and guaranteed term.

Maturity Value Transfer Provision

If we automatically reinvest the proceeds from a matured guaranteed term,your state, you may transfer or withdraw from the Guaranteed Account the amount that was reinvested without an MVA.  An early withdrawal charge and maintenance fee may apply to withdrawals.  If the full amount reinvested is transferred or withdrawn, we will include interest credited to the date of the transfer or withdrawal.  This provision is only available until the last business day of the month following the maturity date of the prior guaranteed term.  This provision only applies to the first transfer or withdrawal request received from the contract holder with respect to a particular matured guaranteed term value, regardless of the amount involved in the transaction.

We allow you to transfer all or a portion of your account value towithout an early withdrawal charge if all of the Guaranteed Account or to other investment options under the contract.  We do not allow transfers from any guaranteed term to any other guaranteed term or investment option during the deposit period for that guaranteed term or for 90 days following the close of that deposit period.  The 90-day wait does not apply to:

·Amounts transferred on the maturity date or under the maturity value transfer provision;conditions are met:

·     Amounts transferred fromMore than one account year has elapsed since the Guaranteed Account before the maturity date due to the election of an income phaseyour purchase payment option;was credited;

·     Amounts distributedThe annuitant, designated under the contract, has spent at least 45 consecutive days in a systematic distribution option;

·Amounts transferred from an available guaranteed term in connection withlicensed nursing facility (in New Hampshire, the dollar cost averaging program;facility may be non-licensed); and

·     Withdrawals due to your exerciseThe withdrawal is requested within three years of the rightdesignated annuitant’s admission to cancel youra licensed nursing facility (in Oregon there is no three year limitation and in New Hampshire, the facility may be non-licensed).

We will not waive the early withdrawal charge if the annuitant was in a licensed nursing care facility at the time you purchased the contract. The nursing home waiver may not be available in all states.

Market Value Adjustment and Taxation. Except for withdrawals at the end of a guaranteed term as noted above, and withdrawals under a systematic distribution option, a market value adjustment is applicable to any amounts you withdraw. Regardless of when or how withdrawals are taken, you may also be required to pay taxes and tax penalties. See the “Right to CancelMarket Value Adjustment” section of the contract prospectus.and “Federal Tax Considerations.”

We are taxed as a life insurance company under the Tax Code. We ownThe Company owns all assets supporting the contract obligations. Any income earned on such assets is considered income to the Company. We do not intend to make any provision or impose a charge under the contracts with respect to any tax liability of the Company other than state premium taxes.Company.

Taxation of Payments and Distributions.  For information concerning the tax treatment of payments to and distributions from the contract, please refer to the variable annuity contract prospectus.

Anti-Money Laundering

The Company’sIn order to protect against the possible misuse of our products in money laundering or terrorist financing, we have adopted an anti-money laundering program satisfying the requirements of the USA PATRIOT Act and other current anti-money laundering laws. Among other things, this program requires us, our agents and customers to comply with certain procedures and standards that will allow us to verify the identity of the sponsoring organization and authority,that contributions and loan repayments are not derived from improper sources.

Under our anti-money laundering program, we may require customers, and/or beneficiaries to provide sufficient evidence of identification, and we reserve the right to verify any information provided to us by accessing information databases maintained internally or by outside firms.

We may also refuse to accept certain forms of payments or loan repayments (traveler’s cheques, for example) or restrict the amount of certain forms of payments or loan repayments. In addition, we may require information as to why a particular form of payment was used (third party checks, for example) and the legality and validitysource of the guaranteed termsfunds of such payment in order to determine whether or not we will accept it. Use of an unacceptable form of payment may result in us returning the payment to you and not issuing the Guaranteed Account, have been passed on by the Company’s legal department.Contract.

Applicable laws designed to prevent terrorist financing and money laundering might, in certain circumstances, require us to block certain transactions until authorization is received from the appropriate regulator. We may also be required to provide additional information about you and your contract to government regulators.

Our anti-money laundering program is subject to change without notice to take account of changes in applicable laws or regulations and our ongoing assessment of our exposure to illegal activity.

Unclaimed Property

Every state has some form of unclaimed property laws that impose varying legal and practical obligations on insurers and, indirectly, on contract owners, insureds, beneficiaries and other payees of proceeds. Unclaimed property laws generally provide for escheatment to the state of unclaimed proceeds under various circumstances.

Contract owners are urged to keep their own, as well as their beneficiaries’ and other payees’, information up to date, including full names, postal and electronic media addresses, telephone numbers, dates of birth, and Social Security numbers. Such updates should be communicated to Customer Service.

Cyber Security

Like others in our industry, we are subject to operational and information security risks resulting from "cyber-attacks", "hacking" or similar illegal or unauthorized intrusions into computer systems and networks. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, denial of service attacks on websites and other operational disruption and unauthorized release of confidential customer information. Although we seek to limit our vulnerability to such risks through technological and other means and we rely on industry standard commercial technologies to maintain the security of our information systems, it is not possible to anticipate or prevent all potential forms of cyber-attack or to guarantee our ability to fully defend against all such attacks. In addition, due to the sensitive nature of much of the financial and similar personal information we maintain, we may be at particular risk for targeting.

Cyber-attacks affecting us, any third party administrator, intermediaries and other affiliated or third-party service providers may adversely affect us and your account value. For instance, cyber-attacks may interfere with our processing of contract transactions, including the processing of orders from our website impact our ability to calculate accumulation unit values, cause the release and possible destruction of confidential customer or business information, impede order processing, subject us and/or our service providers and intermediaries to regulatory fines and financial losses and/or cause reputational damage. There can be no assurance that we or our service providers will avoid losses affecting your contract that result from cyber-attacks or information security breaches in the future.

The Company

Voya Retirement Insurance and Annuity Company (the “Company,” “we,” “us” or “our”) issues the contracts described in this prospectus and is responsible for providing each contract’s insurance and annuity benefits. All guarantees and benefits provided under the contracts that are not related to the separate account are subject to the claims paying ability of the Company and our general account. We are a stock life insurance company organized under the insurance laws of the State of Connecticut in 1976. Prior to January 1, 2002, the Company was known as Aetna Life Insurance and Annuity Company. From January 1, 2002, until August 31, 2014, the Company was known as ING Life Insurance and Annuity Company.

We are an indirect, wholly owned subsidiary of Voya Financial, Inc. (“Voya”), which until April 7, 2014, was known as ING U.S., Inc. In May, 2013 the common stock of Voya began trading on the New York Stock Exchange under the symbol “VOYA.”

We are engaged in the business of selling life insurance and annuities and providing financial services in the United States. We are authorized to conduct business in all states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands. Our principal executive offices are located at:

One Orange Way

Windsor, CT 06095-4774

Product Regulation. Our annuity, retirement and investment products are subject to a complex and extensive array of state and federal tax, securities, insurance and employee benefit plan laws and regulations, which are administered and enforced by a number of different governmental and self-regulatory authorities, including state insurance regulators, state securities administrators, state banking authorities, the SEC, the Financial Industry Regulatory Authority (“FINRA”), the Department of Labor (“DOL”), the IRS and the Office of the Comptroller of the Currency (“OCC”). For example, U.S. federal income tax law imposes requirements relating to insurance and annuity product design, administration and investments that are conditions for beneficial tax treatment of such products under the Tax Code. See “FEDERAL TAX CONSIDERATIONS” for further discussion of some of these requirements. Additionally, state and federal securities and insurance laws impose requirements relating to insurance and annuity product design, offering and distribution and administration. Failure to administer product features in accordance with contract provisions or applicable law, or to meet any of these complex tax, securities, or insurance requirements could subject us to administrative penalties imposed by a particular governmental or self-regulatory authority, unanticipated costs associated with remedying such failure or other claims, harm to our reputation, interruption of our operations or adversely impact profitability.

Contract Distribution

The Company’s subsidiary, Voya Financial Partners, LLC, serves as the principal underwriter for the contracts. Voya Financial Partners, LLC, a Delaware limited liability company, is registered as a broker-dealer with the SEC. Voya Financial Partners, LLC is also a member of FINRA and the Securities Investor Protection Corporation (“SIPC”). Voya Financial Partners, LLC’s principal office is located at One Orange Way, Windsor, CT 06095-4774.

The contracts are offered to the public by individuals who are registered representatives of Voya Financial Partners, LLC or other broker-dealers which have entered into a selling arrangement with Voya Financial Partners, LLC. We refer to Voya Financial Partners, LLC and the other broker-dealers selling the contracts as “distributors.”

All registered representatives selling the contracts must also be licensed as insurance agents for the Company.

Registered representatives of distributors who solicit sales of the contracts typically receive a portion of the compensation paid to the distributor in the form of commissions or other compensation, depending upon the agreement between the distributor and the registered representative. This compensation, as well as other incentives or payments, is not paid directly by contract owners or the Separate Account. We intend to recoup this compensation and other sales expenses paid to distributors through fees and charges imposed under the contracts.

Compensation Arrangements. Registered Representatives who offer and sell the contracts may be paid a commission. The maximum percentage amount that may be paid with respect to a given purchase payment is the first-year percentage which ranges from 0% to a maximum of 6.0% of the first year of payments to an account. Renewal commissions paid on payments made after the first year and asset-based service fees may also be paid.

Individual registered representatives may receive all or a portion of compensation paid to their distributor, depending upon the firm’s practices. Commissions and any annual payments, when combined, could exceed 6.0% of total purchase payments. To the extent permitted by SEC and FINRA rules and other applicable laws and regulations, we may also pay or allow other promotional incentives or payments in the form of cash payments or other compensation to distributors, which may require the registered representative to attain a certain threshold of sales of Company products.

We may also enter into special compensation arrangements with certain distributors based on those firms’ aggregate or anticipated sales of the contracts or other criteria. These arrangements may include commission specials, in which additional commissions may be paid in connection with purchase payments received for a limited time period, within the maximum commission rates noted above. These special compensation arrangements will not be offered to all distributors, and the terms of such arrangements may differ among distributors based on various factors. These special compensation arrangements may also be limited only to Voya Financial Advisors, Inc. and other distributors affiliated with the Company. Any such compensation payable to a distributor will not result in any additional direct charge to you by us.

Some personnel may receive various types of non-cash compensation as special sales incentives, including trips, and we may also pay for some personnel to attend educational and/or business seminars. Any such compensation will be paid in accordance with SEC and FINRA rules. Employees of the Company or its affiliates (including wholesaling employees) may receive more compensation when funds advised by the Company or its affiliates (“affiliated funds”) are selected by a contract holder than when unaffiliated funds are selected. Additionally, management personnel of the Company, and of its affiliated broker-dealers, may receive additional compensation if the overall amount of investments in funds advised by the Company or its affiliates meets certain target levels or increases over time. Compensation for certain management personnel, including management personnel, may be enhanced if management personnel meet or exceed goals for sales of the contracts, or if the overall amount of investments in the contracts and other products issued or advised by the Company or its affiliates increases over time. Certain management personnel may also receive compensation that is a specific percentage of the commissions paid to distributors or of purchase payments received under the contracts, or which may be a flat dollar amount that varies based upon other factors, including management’s ability to meet or exceed service requirements, sell new contracts or retain existing contracts, or sell additional service features such as a common remitting program.

In addition to direct cash compensation for sales of contracts described above, through Voya Financial Partners, LLC, we may also pay distributors additional compensation or reimbursement of expenses for their efforts in selling the contracts to you and other customers. These amounts may include:

·Marketing/distribution allowances that may be based on the percentages of purchase payments received, the aggregate commissions paid and/or the aggregate assets held in relation to certain types of designated insurance products issued by the Company and/or its affiliates during the year;

·Loans or advances of commissions in anticipation of future receipt of purchase payments (a form of lending to registered representatives). These loans may have advantageous terms, such as reduction or elimination of the interest charged on the loan and/or forgiveness of the principal amount of the loan, which may be conditioned on sales;

·Education and training allowances to facilitate our attendance at certain educational and training meetings to provide information and training about our products. We also hold training programs from time to time at our own expense;

·Sponsorship payments or reimbursements for distributors to use in sales contests and/or meetings for their registered representatives who sell our products. We do not hold contests based solely on sales of this product;

·Certain overrides and other benefits that may include cash compensation based on the amount of earned commissions, representative recruiting or other activities that promote the sale of contracts; and

·Additional cash or noncash compensation and reimbursements permissible under existing law. This may include, but is not limited to, cash incentives, merchandise, trips, occasional entertainment, meals and tickets to sporting events, client appreciation events, business and educational enhancement items, payment for travel expenses (including meals and lodging) to pre-approved training and education seminars, and payment for advertising and sales campaigns.

We may pay commissions, dealer concessions, wholesaling fees, overrides, bonuses, other allowances and benefits and the costs of all other incentives or training programs from our resources, which include the fees and charges imposed under the contracts.

The following is a list of the top 25 distributors that, during 2020, received the most compensation, in the aggregate, from us in connection with the sale of registered variable annuity contracts issued by the Company, ranked by total dollars received:

This is a general discussion of the types and levels of compensation paid by us for the sale of our variable annuity contracts. It is important for you to know that the payment of volume or sales-based compensation to a distributor or registered representative may provide that registered representative a financial incentive to promote our contracts over those of another Company, and may also provide a financial incentive to promote one of our and/or services contracts over another.

Contract Modification

Only an authorized officer of the Company may change the terms of the contract. We may change the contract as required by federal or state law. In addition, we may, upon 30 days’ written notice to the contract holder, make other changes to group contracts that would apply only to individuals who become participants under that contract after the effective date of such changes. If the group contract holder does not agree to a change, we reserve the right to refuse to establish new accounts under the contract. Certain changes will require the approval of appropriate state or federal regulatory authorities.