Exhibit 99.(h)(8)
September 4, 2024
Venerable Variable Insurance Trust
1475 Dunwoody Drive
West Chester, PA 19380
Re: Rule 12b-1 Fee Waiver
Ladies and Gentlemen:
Russell Investments Financial Services, LLC (“RIFS”) agrees to waive receipt of all or a portion of the Rule 12b-1 distribution and service fee payable to RIFS under the Rule 12b-1 distribution and service plan adopted by Venerable Variable Insurance Trust (“VVIT”) with respect to Class V shares. RIFS waives receipt of the Rule 12b-1 fee through [September 15], 2026 for each of the following series of VVIT to the extent necessary to limit total annual operating expenses of Class V shares of the series to the amount set forth below:
| Fund | Total Annual Operating Expense Limit* | |||
| Venerable High Yield Fund | 0.72 | % | ||
| Venerable Large Cap Index Fund | 0.51 | % | ||
| Venerable Moderate Allocation Fund | 0.89 | % | ||
| Venerable Strategic Bond Fund | 0.80 | % | ||
| Venerable US Large Cap Strategic Equity Fund | 0.86 | % | ||
| * | For purposes of the limit, total annual operating expenses do not include interest expenses, short sale expenses, taxes, brokerage commissions, and extraordinary expenses such as litigation expenses. |
RIFS further agrees that termination or modification of this letter requires approval by the Board of Trustees of VVIT. Please indicate your agreement to this letter by executing below.
| Sincerely, | ||
| By: | /s/ Brad Jung | |
| Name: | Brad Jung | |
| Title: | President and Chairman |
| AGREED AND ACCEPTED BY: | ||
| Venerable Variable Insurance Trust | ||
| By: | /s/ Michal Levy | |
| Name: | Michal Levy | |
| Title: | CEO and President | |
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