On November 21, 2023, the American Council on Gift Annuities (ACGA) announced that it would be increasing its suggested maximum annuity rates, effective January 1, 2024. The new rates replace the rates that became effective January 1, 2023.

Why should you consider a charitable gift annuity in 2024?

• You will lock in gift annuity payments for life without concerns about market fluctuations.
• If you already have a gift annuity, they are more appealing in 2024.
• While the income tax charitable deduction for a gift annuity is lower using the 2024 rates, the potential tax-free portion of your annuity increases.
• If you don’t need income now, deferring your annuity payment increases these rates. (A 70-year-old deferring payments to age 75 is entitled to 8.7% annuity for life!)

If you would like more information or are interested in a personalized illustration, please contact us.