Jacobson v. Metropolitan Life Insurance Company

NACA filed an amicus letter asking the California Supreme Court to accept review of a California appellate court’s decision to not force a vendor selling retirement products to employees of California public schools to disclose all terms and fees associated with those products as required by state law. The appellate court held that a vendor does not need to disclose terms and fees for products that are not available to new customers even though the product is still owned and able to be renewed by existing customers. The plaintiff is urging the California Supreme Court to review this decision and reverse the appellate court’s creation of an unwritten loophole into the applicable state law.