Modifies the interest rate within the standard nonforfeiture law for annuities
Summary
Reduces the minimum nonforfeiture interest rate for annuities from one percent to one half of one percent for annuities during the surrender charge period, and from one percent to fifteen hundredths of one percent during any contract period with no surrender charge.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2025
Last action Jan 7, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO INSURANCE
upper
Feb 20, 2025
Committee
REFERRED TO INSURANCE
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jamaal Bailey
DDemocratic/Working Families
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