SF 2215: Relating to the applicability of the standard nonforfeiture law for individual deferred annuities to contingent deferred annuities

What it does

This bill provides that subsections through of Code section 508.38 (standard nonforfeitures —— deferred annuities) shall not apply to contingent deferred annuities, except that the commissioner of insurance may prescribe by rule nonforfeiture benefits for contingent deferred annuities that the commissioner deems equitable to policyholders, appropriate for the risks insured, and consistent with the general intent of Code section 508.38.

Senate subcommittee · named January 22, 2026

• Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
• Sen. David D. Rowley (R) · david.rowley@legis.iowa.gov
• Sen. Janice Weiner (D) · janice.weiner@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Federation of Iowa Insurers; Sammons Financial Group

In plain words

1. January 22, 2026Filed in the Senate and sent to the Commerce committee · as SSB 3064
2. January 22, 2026Senate subcommittee named: Bousselot, Rowley and Weiner · as SSB 3064
3. January 29, 2026Subcommittee recommended passing it · as SSB 3064
4. February 4, 2026Approved by the Senate committee, and given a new number: SF 2215 · as SSB 3064
5. February 5, 2026Filed in the Senate
6. February 5, 2026Approved by the Senate committee
7. March 3, 2026Passed the Senate, 44–0
8. March 12, 2026Took the place of HF 2184 on the House floor (the same legislation)
9. March 12, 2026Passed the House, 91–0
10. April 9, 2026Sent to the Governor
11. April 9, 2026Signed into law