All Roll Calls
Yes: 112 • No: 0
New JerseyS3371220th Legislature (2024-2025)SenateWALLET
Revises limits for net cash surrender and net cash withdrawal values for certain annuity policies and contracts from $100,000 to $250,000.
Sponsored By: Roy Freiman (Democratic), Pou, Nellie, Robert W. Singer (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Higher protection for New Jersey annuity owners
Beginning July 10, 2024, New Jersey raises guaranty protection for covered annuities’ net cash surrender and withdrawal values. The maximum rises from $100,000 to $250,000 per life. This protects owners or beneficiaries when an insurer becomes insolvent, but only for annuities covered by the guaranty law. The limit applies across all covered policies and contracts for that life, not separately to each one. The separate $500,000 limit on the present value of annuity benefits stays unchanged.
Sponsors & Cosponsors
Sponsors
Roy Freiman
Democratic • House
Pou, Nellie
Affiliation unavailable
Robert W. Singer
Republican • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 6/28/2024
3RDG FINAL PASSAGE
Yes: 72 • No: 0
Senate vote • 6/28/2024
3RDG FINAL PASSAGE
Yes: 40 • No: 0
Actions Timeline
Approved by Governor — P.L.2024, c.34.
7/10/2024GovernorPassed Assembly, PBH — (72-0-0)
6/28/2024HouseSubstituted for A4457 (1R)
6/28/2024HouseReceived in Assembly, Without Reference, 2nd Reading in Assembly
6/28/2024HousePassed Senate — (40-0)
6/28/2024SenateREP/SCA, 2nd Reading in Senate
6/10/2024SenateIntroduced, 1st Reading in Senate, Referred to Senate Commerce Committee
6/3/2024Senate
Bill Text
Version PL2024
9/10/2024
Version AL2024
7/31/2024
Senate Commerce (6/10/24 1R)
7/3/2024
Senate Commerce Substitute (6/10/24)
6/11/2024
As Introduced
6/7/2024
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