# Virginia SB166: Insurance; contingent deferred annuities, nonforfeiture benefits.

Virginia SB166, Insurance; contingent deferred annuities, nonforfeiture benefits., is a 2026 Regular Session Senate bill sponsored by Jeremy S. McPike (Democratic); status signed, last action 2026-04-08 (Acts of Assembly Chapter text (CHAP0486)); PRIA reads it as touching household money (as of 2026-10-12).

- Canonical: https://policyrisk.com/state-bill/VA-SB166-2026
- As of: 2026-10-12
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB166
- State: Virginia
- Session: 2026 Regular Session
- Title: Insurance; contingent deferred annuities, nonforfeiture benefits.
- Status: signed
- Chamber: Senate
- Introduced: 2026-01-07
- Last action: 2026-04-08, Acts of Assembly Chapter text (CHAP0486)
- Sponsor: Jeremy S. McPike (Democratic)
- Cosponsors: 0
- Touches household money: yes
- Roll calls: 8 (220 yes, 0 no in all)
- Economic provisions PRIA read: 2

## Summary

Insurance; contingent deferred annuities; nonforfeiture benefits. Permits the State Corporation Commission to adopt reasonable standards for contingent deferred annuities, as defined in the bill, including nonforfeiture benefits. The bill subjects contingent deferred annuities to certain requirements applicable under current law to other types of insurance contracts.

## Bill overview: provisions PRIA read

- Changes to annuity protection rules: mixed, medium. The law narrows which annuity products get Chapter 32 nonforfeiture protections. These no longer apply to: reinsurance; employer group annuities (not IRAs); premium deposit funds; variable, investment, and immediate annuities; deferred annuities once payments start; reversionary and modified guaran…
- Clearer definitions for annuity types: mixed, low. The law clarifies what counts as an annuity. It includes variable and modified guaranteed annuities and can allow a lump-sum option. It excludes certain contracts in other code sections and qualified charitable gift annuities. The law also defines a contingent deferred annuity. Insurers must start…

## Sponsors and cosponsors

- Sponsor: Jeremy S. McPike (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-03-03 | House | Passed House Block Vote | pass | 97 | 0 |   |
| 2026-02-26 | House | Reported from Labor and Commerce | pass | 21 | 0 |   |
| 2026-02-24 | House | Subcommittee recommends reporting | pass | 9 | 0 |   |
| 2026-01-30 | Senate | Read third time and passed Senate Block Vote | pass | 38 | 0 |   |
| 2026-01-29 | Senate | Engrossed by Senate Block Vote (Voice Vote) | pass | 0 | 0 |   |
| 2026-01-28 | Senate | Constitutional reading dispensed Block Vote (on 1st reading) | pass | 40 | 0 |   |
| 2026-01-28 | Senate | Passed by for the day Block Vote (Voice Vote) | pass | 0 | 0 |   |
| 2026-01-26 | Senate | Reported from Commerce and Labor | pass | 15 | 0 |   |

## Actions (29)

- 2026-04-08: Acts of Assembly Chapter text (CHAP0486) (Governor)
- 2026-04-08: Approved by Governor-Chapter 486 (effective 7/1/2026) (Governor)
- 2026-03-23: Fiscal Impact Statement from State Corporation Commission (SB166) (Senate)
- 2026-03-10: Governor's Action Deadline 11:59 p.m., April 13, 2026 (Governor)
- 2026-03-10: Enrolled Bill communicated to Governor on March 10, 2026 (Senate)
- 2026-03-09: Bill text as passed Senate and House (SB166ER) (Senate)
- 2026-03-09: Enrolled (Senate)
- 2026-03-09: Signed by President (Senate)
- 2026-03-09: Signed by Speaker (House)
- 2026-03-03: Passed House Block Vote (97-Y 0-N 0-A) (House)
- 2026-03-03: Read third time (House)
- 2026-03-02: Read second time (House)
- 2026-02-26: Reported from Labor and Commerce (21-Y 0-N) (House)
- 2026-02-24: Subcommittee recommends reporting (9-Y 0-N) (House)
- 2026-02-17: Assigned HCL sub: Subcommittee #1 (House)
- 2026-02-04: Referred to Committee on Labor and Commerce (House)
- 2026-02-04: Read first time (House)
- 2026-02-04: Placed on Calendar (House)
- 2026-01-30: Read third time and passed Senate Block Vote (38-Y 0-N 0-A) (Senate)
- 2026-01-29: Engrossed by Senate Block Vote (Voice Vote) (Senate)
- 2026-01-29: Read second time (Senate)
- 2026-01-28: Passed by for the day Block Vote (Voice Vote) (Senate)
- 2026-01-28: Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A) (Senate)
- 2026-01-28: Passed by for the day (Senate)
- 2026-01-28: Rules suspended (Senate)
- 2026-01-26: Fiscal Impact Statement from State Corporation Commission (SB166) (Senate)
- 2026-01-26: Reported from Commerce and Labor (15-Y 0-N) (Senate)
- 2026-01-07: Referred to Committee on Commerce and Labor (Senate)
- 2026-01-07: Prefiled and ordered printed; Offered 01-14-2026 26101910D (Senate)

## Bill text

- Chaptered, 2026-04-08: [HTML](https://lis.blob.core.windows.net/files/1218219.HTML), [PDF](https://lis.blob.core.windows.net/files/1218218.PDF)
- Enrolled, 2026-03-09: [HTML](https://lis.blob.core.windows.net/files/1194874.HTML), [PDF](https://lis.blob.core.windows.net/files/1194873.PDF)
- Introduced, 2026-01-07: [HTML](https://lis.blob.core.windows.net/files/1083608.HTML), [PDF](https://lis.blob.core.windows.net/files/1083607.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1218219.HTML)
- [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1218218.PDF)
- [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1194874.HTML)
- [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1194873.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1083608.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1083607.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/VA-SB166-2026 (as of 2026-10-12).