by John Darer CLU ChFC MSSC CeFT RSP CLTC
The Department of Justice published its most recent list of Annuity Brokers on June 17, 2024.
Section 11015(b) of the 21st Century Department of Justice Appropriations Authorization Act provides that “[i]n any structured settlement that is not negotiated exclusively through the Civil Division of the Department of Justice, the United States Attorney (or his designee) involved in any settlement negotiations shall have the exclusive authority to select an annuity broker from the list of such brokers established by the Attorney General, provided that all documents related to any settlement comply with Department of Justice requirements.”
The appearance of an annuity broker’s name on the list does not signify that the annuity broker actually meets the minimum qualifications or is otherwise competent to provide structured settlement brokerage services to the United States. Title 28 C.F.R. § 50.24 provides the following disclaimers:
(c) Disclaimers.
(1) The inclusion of an annuity broker on the list signifies only that the individual declared under penalty of perjury that he or she meets the minimum qualifications required by the Attorney General for providing annuity brokerage services in connection with structured settlements entered into by the United States. Because the decision to include an individual annuity broker on the list is based solely and exclusively on the Declaration submitted by the annuity broker, the appearance of an annuity broker’s name on the list does not signify that the annuity broker actually meets those minimum qualifications or is otherwise competent to provide structured settlement brokerage services to the United States. No preferential consideration will be given to an annuity broker appearing on the list except to the extent that United States Attorneys utilize the list pursuant to section 11015(b) of Public Law 107–273.
(2) By submitting a Declaration to the Department of Justice, the individual annuity broker agrees that the Declaration and the list each may be made public in its entirety, and the annuity broker expressly consents to such release and disclosure of the Declaration and list.
Accordingly, any broker being considered for selection should be required to verify at the time of selection that he or she meets the minimum qualifications set forth in 28 C.F.R. §50.24(a) and is otherwise competent to provide structured settlement brokerage services to the United States.
The 2024 Calendar-Year List, published June 17, 2024, can be found at 2024 Calendar Year Broker List (justice.gov) in PDF format and is available to the public.
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