BNY MELLON INVESTMENT PORTFOLIOS BNY MELLON …

STATEMENT OF ADDITIONAL INFORMATION

May 1, 2020

This Statement of Additional Information (SAI), which is not a prospectus, supplements and should be read in conjunction with the current prospectus of each fund listed below, as such prospectuses may be revised from time to time. To obtain a copy of a fund's prospectus, please call your financial adviser, or write to the fund at 144 Glenn Curtiss Boulevard, Uniondale, New York 11556-0144, visit us or, for Government Money Market Portfolio, , or call 1-800-373-9387 (inside the U.S. only).

Fund shares are currently offered only to variable annuity and variable life insurance separate accounts established by Participating Insurance Companies to fund the Policies. The Policies are described in the separate prospectuses issued by the separate accounts. Not all funds or share classes may be available through a particular Policy. Fund shares also may be, but are not currently, offered to certain qualified pension and retirement plans and other accounts permitting accumulation of assets on a tax-deferred basis (collectively, "Eligible Plans"). For information about Eligible Plan investing, please write or call the address or phone number above. Individuals may not purchase shares of any fund directly from the fund.

The most recent annual report and semi-annual report to shareholders for each fund are separate documents supplied with this SAI, and the financial statements, accompanying notes and report of the independent registered public accounting firm appearing in the annual report are incorporated by reference into this SAI and can be accessed by clicking on the applicable link in the "Fiscal Year End/Annual Report Date" column below. All classes of a fund have the same fiscal year end and prospectus date, except if otherwise indicated. Capitalized but undefined terms used in this SAI are defined in the Glossary at the end of this SAI.

Fund

Prospectus

Abbreviation Share Classes Fiscal Year End

Date

BNY Mellon Stock Index Fund, Inc.

BNY Mellon Variable Investment Fund Appreciation Portfolio

Government Money Market Portfolio

BNYMSIF

BNYMVIF AP

GMMP

Initial Shares Service Shares

Initial Shares Service Shares N/A

December 31st May 1st

December 31st December 31st

May 1st May 1st

Growth and Income Portfolio Opportunistic Small Cap Portfolio

GIP OSCP

Initial Shares Service Shares Initial Shares Service Shares

December 31st December 31st

May 1st May 1st

VIFSI-SAI-0520A

TABLE OF CONTENTS

PART I

BOARD INFORMATION Information About Each Board Member's Experience, Qualifications, Attributes or Skills Committee Meetings Board Members' Fund Share Ownership Board Members' Compensation

OFFICERS

CERTAIN PORTFOLIO MANAGER INFORMATION

MANAGER'S AND SUB-ADVISERS' COMPENSATION; COMPLIANCE SERVICES Manager's and Sub-Advisers' Compensation

SECURITIES LENDING ACTIVITIES

DISTRIBUTOR'S COMPENSATION

SECURITIES OF REGULAR BROKERS OR DEALERS

COMMISSIONS

PORTFOLIO TURNOVER VARIATION

SHARE OWNERSHIP

PART II

INVESTMENTS, INVESTMENT TECHNIQUES AND RISKS Funds other than the Government Money Market Portfolio BNY Mellon Stock Index Fund

INVESTMENT RESTRICTIONS Fundamental Policies Nonfundamental Policies Fundamental and Nonfundamental Policies Related to Fund Investment Objectives

SHAREHOLDER SERVICES PLAN

INFORMATION ABOUT THE FUNDS' ORGANIZATION AND STRUCTURE

CERTAIN EXPENSE ARRANGEMENTS AND OTHER DISCLOSURES Expense Limitations and Arrangements Index Licensing Disclosures (BNY Mellon Stock Index Fund only)

COUNSEL AND INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

PART III

HOW TO BUY SHARES Converting Shares

HOW TO REDEEM SHARES Redemption Commitment Suspension of Redemptions Fund Liquidation (Government Money Market Portfolio only)

EXCHANGE PRIVILEGE

I-1 I-1 I-4 I-4 I-4

I-5

I-8

I-10 I-10

I-11

I-12

I-13

I-14

I-14

I-16

II-1 II-1 II-7

II-7 II-7 II-10 II-12

II-13

II-14

II-14 II-14 II-15

II-15

III-1 III-1

III-1 III-2 III-2 III-2

III-2

RULE 12B-1 PLANS

ADDITIONAL INFORMATION ABOUT INVESTMENTS, INVESTMENT TECHNIQUES AND RISKS

Cybersecurity Risk All Funds other than the Government Money Market Portfolio

Equity Securities Common Stock Preferred Stock Convertible Securities Synthetic Warrants IPOs

Fixed-Income Securities U.S. Government Securities Corporate Debt Securities Ratings of Securities; Unrated Securities High Yield and Lower-Rated Securities Zero Coupon, Pay-In-Kind and Step-Up Securities Inflation-Indexed Securities Variable and Floating Rate Securities Loans Participation Interests and Assignments Mortgage-Related Securities Asset-Backed Securities

LIBOR Rate Risk Municipal Securities Real Estate Investment Trusts (REITs) Money Market Instruments

Bank Obligations Repurchase Agreements Commercial Paper Foreign Securities Emerging Markets Certain Asian Emerging Market Countries Depositary Receipts and New York Shares Investment Companies Private Investment Funds Exchange-Traded Funds and Similar Exchange-Traded Products (ETFs) Derivatives Futures Contracts Options Swap Agreements Forward Volatility Agreements Credit Linked Securities Credit Derivatives Combined Transactions Future Developments Foreign Currency Transactions Short-Selling Lending Portfolio Securities Borrowing Money Borrowing Money for Leverage Reverse Repurchase Agreements Forward Commitments Illiquid Securities

III-2

III-3 III-4 III-4 III-4 III-5 III-5 III-6 III-6 III-6 III-7 III-7 III-8 III-9 III-9 III-9 III-10 III-11 III-11 III-12 III-14 III-15 III-20 III-20 III-21 III-24 III-24 III-24 III-24 III-24 III-25 III-26 III-27 III-29 III-29 III-30 III-30 III-30 III-33 III-34 III-35 III-37 III-37 III-38 III-38 III-38 III-38 III-39 III-40 III-40 III-40 III-41 III-41 III-41

Illiquid Securities Generally Section 4(2) Paper and Rule 144A Securities Non-Diversified Status Investments in the Technology Sector Government Money Market Portfolio Ratings of Securities Treasury Securities U.S. Government Securities Repurchase Agreements Bank Obligations Bank Securities Floating and Variable Rate Obligations Participation Interests Asset-Backed Securities Commercial Paper Investment Companies Foreign Securities Illiquid Securities Borrowing Money Reverse Repurchase Agreements Forward Commitments Interfund Borrowing and Lending Program Lending Portfolio Securities

RATING CATEGORIES S&P Moody's Short-Term Ratings Fitch Corporate Finance Obligations -- Long-Term Rating Scales Structured, Project & Public Finance Obligations -- Long-Term Rating Scales Short-Term Ratings Assigned to Issuers and Obligations DBRS Long Term Obligations Commercial Paper and Short Term Debt

ADDITIONAL INFORMATION ABOUT THE BOARDS Boards' Oversight Role in Management Board Composition and Leadership Structure Additional Information About the Boards and their Committees

MANAGEMENT ARRANGEMENTS The Manager Sub-Advisers Sarofim & Co. Index Manager Portfolio Managers and Portfolio Manager Compensation Sarofim & Co. Certain Conflicts of Interest with Other Accounts Code of Ethics Distributor Transfer and Dividend Disbursing Agent and Custodian Annual Anti-Money Laundering Program Review Funds' Compliance Policies and Procedures

DETERMINATION OF NAV Valuation of Portfolio Securities (funds other than the Government Money Market Portfolio)

III-41 III-42 III-42 III-42 III-42 III-43 III-43 III-43 III-43 III-44 III-45 III-45 III-45 III-46 III-46 III-46 III-46 III-46 III-46 III-47 III-47 III-47 III-47

III-47 III-47 III-49 III-50 III-51 III-51 III-52 III-52 III-53 III-53 III-54

III-54 III-54 III-55 III-55

III-56 III-56 III-56 III-56 III-56 III-56 III-58 III-58 III-59 III-60 III-60 III-61 III-61

III-61 III-61

Valuation of Portfolio Securities (Government Money Market Portfolio only) Calculation of NAV Expense Allocations NYSE Closings

III-62 III-62 III-62 III-63

DIVIDENDS AND DISTRIBUTIONS Government Money Market Portfolio

III-63 III-63

CERTAIN Taxation of the Funds RIC Qualification Requirements Diversification Requirements of Section 817(h) Investments in PFICs Other Fund Investments and Activities Investor Tax Matters

III-63 III-63 III-63 III-65 III-66 III-66 III-67

PORTFOLIO TRANSACTIONS Trading the Funds' Portfolio Securities Soft Dollars IPO Allocations

III-67 III-67 III-69 III-70

DISCLOSURE OF PORTFOLIO HOLDINGS Policy

III-71 III-71

SUMMARY OF THE PROXY VOTING POLICY AND PROCEDURES OF THE BNY MELLON FAMILY

OF FUNDS

III-74

ADDITIONAL INFORMATION ABOUT THE FUNDS' STRUCTURE; FUND SHARES AND VOTING RIGHTS

Massachusetts Business Trusts Fund Shares and Voting Rights

III-76 III-76 III-76

GLOSSARY

III-77

APPENDIX A: PROXY VOTING POLICIES AND PROCEDURES OF FIRMS DELEGATED FUND PROXY VOTING AUTHORITY

Voting Proxies of Designated BHCs ESG Voting Guidelines

III-1 III-3 III-9

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