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
passed
3 of 5 stages cleared
Introduction
May 2021
Committee Review
Feb 2022
Senate Passage
Feb 2022
Assembly Passage
Governor
Introduced May 11, 2021
Last action Feb 7, 2022
Floor votes · Senate Feb 7, 2022
How they voted
62–1
Passed
Total votes 63
Feb 7, 2022
D
Democratic43
97% Yea
R
Republican20
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
16
Key actions
2
Committee
4
Feb 7, 2022
Committee
REFERRED TO INSURANCE
lower
Feb 7, 2022
Upper · Passed
PASSED SENATE
upper
Jan 5, 2022
Committee
REFERRED TO INSURANCE
upper
Jun 2, 2021
Committee
REFERRED TO INSURANCE
lower
Jun 2, 2021
Upper · Passed
PASSED SENATE
upper
May 11, 2021
Committee
REFERRED TO INSURANCE
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
NB
Neil Breslin
DDemocratic/Working Families
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