OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

http://www.cga.ct.gov/ofa

SB-493

AN ACT CONCERNING THE PURCHASE OF AN ANNUITY TO FUND PENSION BENEFITS.


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

This bill requires insurers to provide certain disclosures regarding annuity contracts and allows the Department of Insurance (DOI) to adopt regulations. It results in no fiscal impact to the state or municipalities since disbursements of notices are on private entities and the DOI has expertise to adopt such regulations.

The Out Years

State Impact: None

Municipal Impact: None