Under O.C.G.A. § 33-28-3 and Ga. Comp. R. & Regs. 120-2-91, Georgia's Standard Nonforfeiture Law for individual deferred annuities guarantees that the contract's minimum nonforfeiture value will accumulate at no less than what floor structure?

Why this is the answer

Georgia's Standard Nonforfeiture Law for individual deferred annuities, O.C.G.A. § 33-28-3, has the Commissioner set the minimum nonforfeiture interest rate by rule, within a statutory corridor of 0.15% to 3% a year (1% to 3% before July 1, 2022). The rule, Ga. Comp. R. & Regs. 120-2-91, uses the five-year Constant Maturity Treasury rate less 125 basis points, floored at 1% and capped at 3%, taken as of a date the contract specifies; the rate applies for an initial period and may be redetermined for later periods if the contract says so. The floor keeps a meaningful guaranteed accumulation when market rates collapse without forcing unsustainable guarantees when rates are high.