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New York · 2025 Regular Session · Bill

S 5315: Modifies the interest rate within the standard nonforfeiture law for annuities

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

S 5315 is a bill introduced in the New York Senate on February 20, 2025. According to its official title, it concerns: Modifies the interest rate within the standard nonforfeiture law for annuities. Primary sponsor: Jamaal Bailey (Democratic/Working Families). Most recent recorded action (January 7, 2026): REFERRED TO INSURANCE.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Reduces the minimum nonforfeiture interest rate for annuities from one percent to one half of one percent for annuities during the surrender charge period, and from one percent to fifteen hundredths of one percent during any contract period with no surrender charge.

Sponsors

Sponsors by party (alphabetical): Democratic/Working Families 1

NameRolePartyChamberDistrict
Jamaal BaileyPrimary sponsorDemocratic/Working FamiliesSenate36

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. REFERRED TO INSURANCE
  2. REFERRED TO INSURANCE

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source