New Proposed Pension De-Risking Bill in Connecticut

Connecticut State Senator Carlo Leone (D – 27) has introduced Proposed Bill No. 493 “AN ACT CONCERNING THE PURCHASE OF AN ANNUITY TO FUND PENSION AND RETIREMENT BENEFITS”. This proposed bill requires an insurance company to provide certain annual disclosures to employees and retirees impacted by pension de-risking transfers involving the purchase of a group annuity contract to fund retirement benefits and would limit subsequent transfers of those annuity contracts. Edward Stone Law will be working with ProtectSeniors.org to educate legislators and retirees about the benefits of this important legislation. For more information please visit our website at www.edwardstonelaw.com or call (203) 504-8425.