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
died
3 of 5 stages cleared
Introduction
Jan 2023
Committee Review
Jan 2024
Senate Passage
Mar 2023
Assembly Passage
Governor
Introduced Jan 31, 2023
Last action Jan 3, 2024
Floor votes · Senate Mar 20, 2023
How they voted
60–2
Passed · 1 other
Total votes 63
Mar 20, 2023
D
Democratic42
95% Yea
R
Republican21
95% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
10
Key actions
1
Committee
3
Jan 3, 2024
Committee
REFERRED TO INSURANCE
upper
Mar 20, 2023
Committee
REFERRED TO INSURANCE
lower
Mar 20, 2023
Upper · Passed
PASSED SENATE
upper
Jan 31, 2023
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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