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House passes changes to annuity minimums, tying guarantees to federal index with a 1% floor
Utah House of Representatives · January 22, 2004
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Summary
House passed HB52 to alter minimum guaranteed interest on new annuity contracts from a fixed 3% to a formula tied to a federal medium-term bond index with an absolute minimum of 1%; sponsors said the change helps insurers manage low-interest environments.
SALT LAKE CITY — House members voted to change how minimum guaranteed interest on new deferred annuities will be set, replacing a fixed 3% floor with a formula linked to a federal medium‑term bond index and an absolute minimum guarantee of 1%.
Represen…
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