Suggested Gift Annuity Rates, Quality Training Opportunties, and Consumer Protection Advocacy

YOU CAN BE AN ACGA STATE AGENT

 

Signup to be an ACGA State Agent today!

 

State Agent Information

 

Terry Simmons Fund

DonateNow

The Terry L. Simmons Philanthropic Endowment Fund will provide scholarships to worthy individuals who would otherwise be unable to attend the Conference on Gift Annuities.

Articles

Wisconsin

Regulation of Charitable Gift Annuities


Degree of Regulation:

Effective April 18, 2014, a significant change has occurred in the law governing issuance of charitable gift annuities in Wisconsin. (2013 Wisconsin Act 271) Previously a highly regulated state, requiring application to the Office of the Commissioner of Insurance (OCI) and annual reporting, Wisconsin now provides gift annuities with a general exemption from insurance regulation, with no filing required (either initially or annually) to the OCI.

  • Years of operation – three years continuous operation (or be the successor or affiliate of an organization in operation for that period of time)

Actions Required for Exemption:

A charity that meets the above mentioned requirement is authorized to issue charitable gift annuities.

Disclosure and Agreement Content Requirements:

Annuity agreements must include the following specified disclosure language:

“A qualified charitable gift annuity is not insurance under the laws of Wisconsin and is not subject to regulation by the commissioner of insurance of Wisconsin or protected by an insurance guaranty fund or an insurance guaranty association."

Charities that had existing Wisconsin annuities at the time the new law went into effect are required to provide notice of the law change to those donors/annuitants.

Reserve Requirements:

None.

Annual Reporting:

None.

Compliance/Enforcement:

None.

Links to State Regulations Pages:

2013 Wisconsin Act 271

Wisconsin Insurance Department Contact Information:

Bureau of Financial Analysis and Examinations
Office of the Commissioner of Insurance
P.O. Box 7873
Madison, WI 53707-7873
Kristin Forsberg
(800) 236-8517
This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.
OR
Steve Caughill
(608) 267-2049
This email address is being protected from spambots. You need JavaScript enabled to view it.

Login

Follow ACGA

fb li tw

Event Calendar

December 2014
S M T W T F S
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3