The National Structured Settlements Trade Association (NSSTA) recently held an event dubbed "Together with Two Days to Make a Difference," which brought together members of Congress and other stakeholders in the structured settlements industry. During the event, attendees had the opportunity to connect with leaders in Congress and engage in productive discussions about the benefits of structured settlements. One of the notable observations made by the NSSTA staff was that most of the Congress leaders were already familiar with structured settlements.
The 2022 Congressional elections included 435 individual races for Members of Congress who serve in the U.S. House of Representatives and 35 races for Members elected to serve in the U.S. Senate. After all the votes were counted, 85 newly elected Members of Congress were sworn into office—seven new U.S. Senators and 78 newly elected Members of the House of Representatives.
As an annuitant, it can be a long and arduous journey, especially when they are young adults experiencing a tragedy.
Finances are not all that annuitants need to move to the next step in life. Annuitants also need to be supported in their grieving process, which often takes a back seat because of everything happening in their life. They also need to be prepared for the range of emotions that come with the settlement, which can lead to mismanagement of the funds given to them if not supported.
After working closely with Ohio legislators for several years, NSSTA’s tenacity in protecting a minor’s settlement from public disclosure has paid off.
Effective April 3, 2023, Section 2111.18 of the Ohio Revised Code, Claim for Injury to Ward or Damage to Property – Settlement, has been amended to state as follows: