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SB2872 - 104th General Assembly
CONTINGENT DEFERRED ANNUITIES
Last Action
Statutes Amended In Order of Appearance
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
| Date | Chamber | Action |
|---|---|---|
| 1/16/2026 | Senate | Filed with Secretary by Sen. Julie A. Morrison |
| 1/16/2026 | Senate | First Reading |
| 1/16/2026 | Senate | Referred to Assignments |
| 2/03/2026 | Senate | Assigned to Insurance |
| 3/04/2026 | Senate | Do Pass Insurance; 009-000-000 |
| 3/04/2026 | Senate | Placed on Calendar Order of 2nd Reading March 5, 2026 |
| 3/05/2026 | Senate | Second Reading |
| 3/05/2026 | Senate | Placed on Calendar Order of 3rd Reading March 10, 2026 |
| 4/14/2026 | Senate | Placed on Calendar Order of 3rd Reading ** April 15, 2026 |
| 4/16/2026 | Senate | Third Reading - Passed; 057-000-000 |
| 4/17/2026 | House | Arrived in House |
| 4/17/2026 | House | Chief House Sponsor Rep. Bob Morgan |
| 4/17/2026 | House | First Reading |
| 4/17/2026 | House | Referred to Rules Committee |
| 4/27/2026 | House | Assigned to Insurance Committee |
| 4/29/2026 | House | Alternate Chief Sponsor Changed to Rep. Margaret A. DeLaRosa |
| 5/05/2026 | House | Do Pass / Short Debate Insurance Committee; 015-000-000 |
| 5/06/2026 | House | Placed on Calendar 2nd Reading - Short Debate |
| 5/19/2026 | House | Second Reading - Short Debate |
| 5/19/2026 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 5/21/2026 | House | Third Reading - Short Debate - Passed 108-000-000 |
| 5/21/2026 | Senate | Passed Both Houses |