BRUNSVOLD-GRANBERG-RUTHERFORD-PARKE-YARBROUGH, HASSERT AND BEAUBIEN.
INS ANNUITY FORFEIT RATE
Synopsis of Bill as introduced:
Amends the Illinois Insurance Code. Provides that from July 1,
2002 until July 1, 2005 the rate of interest used in calculating
minimum nonforfeiture amounts for certain contracts shall be 1.5%,
rather than 3%, per year. Effective July 1, 2002.
FISCAL NOTE (Department of Insurance)
House Bill 5607 will have no fiscal impact on the Department.
Last action on Bill: PUBLIC ACT.............................. 92-0541
Last action date: JUN-12-2002
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status