SB2872 - 104th General Assembly (2025-2026)

CONTINGENT DEFERRED ANNUITIES
Last Action
4/27/2026 - House: Assigned to Insurance Committee
Hearings
Insurance Committee Hearing May 5 2026 2:00PM Stratton Building Room C-1 Springfield, IL
Statutes Amended In Order of Appearance
215 ILCS 5/229.4a  
Synopsis As Introduced
Amends the Illinois Insurance Code. Provides that specified provisions of the Standard Nonforfeiture Law for Individual Deferred Annuities shall not apply to contingent deferred annuities. Provides that, notwithstanding this exemption, the Director of Insurance shall have the authority to adopt, by rule, nonforfeiture benefits for contingent deferred annuities that are, in the opinion of the Director, equitable to the contract holder, appropriate given the risks insured, and, to the extent possible, consistent with the general intent of the provisions concerning individual deferred annuities. Effective immediately.
Actions
DateChamberAction
1/16/2026SenateFiled with Secretary by Sen. Julie A. Morrison
1/16/2026SenateFirst Reading
1/16/2026SenateReferred to Assignments
2/03/2026SenateAssigned to Insurance
3/04/2026SenateDo Pass Insurance; 009-000-000
3/04/2026SenatePlaced on Calendar Order of 2nd Reading March 5, 2026
3/05/2026SenateSecond Reading
3/05/2026SenatePlaced on Calendar Order of 3rd Reading March 10, 2026
4/14/2026SenatePlaced on Calendar Order of 3rd Reading ** April 15, 2026
4/16/2026SenateThird Reading - Passed; 057-000-000
4/17/2026HouseArrived in House
4/17/2026HouseChief House Sponsor Rep. Bob Morgan
4/17/2026HouseFirst Reading
4/17/2026HouseReferred to Rules Committee
4/27/2026HouseAssigned to Insurance Committee
4/29/2026HouseAlternate Chief Sponsor Changed to Rep. Margaret A. DeLaRosa