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Standard Nonforfeiture Law For Individual Deferred Annuities

Friday, May 28, 2004
04-CO-002 5/28

A final Regulation implementing the “Standard Nonforfeiture Law for Individual Deferred Annuities” was published today in the D.C. Register at 51 DCR 5600. The Regulation, which will be codified at DCMR Title 26, Chapter 5100, establishes a formula adopted by the National Association of Insurance Commissioners (NAIC) that allows for adjustments of interest rates applicable to deferred annuities. Using this formula, insurers may periodically, when necessary, bring the interest rates for standard nonforfeiture amounts of deferred annuities in line with certain other interest rate benchmarks.