News

As of March 30th, all adopted group annuity Uniform Standards are available for filing use. The following new and amended Uniform Standards can be accessed on the Insurance Compact?s online Rulemaking Record:

• Group Policyholder Application Uniform Standards (IIPRC-G-PRODUCTS-APP)
• Single Premium Group Fixed Annuity Contract Uniform Standards for Employer Groups (IIPRC-A-02-G)
• Group Annuity Certificate Uniform Standards for Employer Groups (IIPRC-A-02-G-CERT)
• Uniform Standards for Group Guaranteed Interest Contracts for Non-Variable Annuities for Employer Groups (IIPRC-A-02-G-GIC)

Is your company planning to file group annuity products with the Compact? Great news! We are now accepting group annuity product filings for Expedited Review. As a reminder, companies wishing to submit a product filing for expedited review should send an email request to Expedited@insurancecompact.org. Concerned your company does not squarely meet the eligibility criteria due to business needs or other unique filing circumstances? Contact the Insurance Compact Office to request further analysis.

The Compact has published several Weekly Tips with guidance on the new group annuity Uniform Standards, all available in the online Weekly Tips Archive. Here is a roundup of tips published to date:

• Fee Refresher for Group Annuity Product Filings (February 26, 2020)
• Availability of Mix and Match for Group Annuity Uniform Standards (January 30, 2020)
• Group Annuity Uniform Standards Available for Filing (January 24, 2020)

If you have any questions about filing Group Annuity products with the Insurance Compact, please contact the Insurance Compact Office or submit a Pre-Filing Communication Form to Comments@insurancecompact.org.