AN ACT REQUIRING PUBLIC ACCOUNTABILITY HEARINGS FOR INSURANCE COMPANIES OPERATING UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT IN CONNECTICUT.

SB 449 requires insurance companies in Connecticut that offer federal retirement plan coverage (under ERISA) to hold quarterly public hearings. These hearings would allow residents and stakeholders to review the companies' practices and decisions. The bill directly affects insurers operating retirement plans for Connecticut employees, mandating transparency about their operations. It aims to increase accountability by making company actions more visible to the public. This is a procedural change to existing oversight, not a direct financial or regulatory shift.