A new schedule of suggested maximum gift annuity rates was announced yesterday by the American Council on Gift Annuities (ACGA) during their biannual conference in Seattle, Washington. This change represents a significant benefit to donors who establish charitable gift annuities on or after July 1, 2018.
“Charitable gift annuities have always been an attractive giving option for our senior clients who want to give more to charity but need lifetime income,” said Cindi Riemersma, client services administrator for Barnabas Foundation. “Now that we’re seeing the rates increase 30-50 basis points, these are sure to become even more popular.”
Gift annuity rates will increase across the board, with the highest rates reaching 9.5 percent for donors ages 90 or older. A complete rate schedule will be available May 15.
Barnabas Foundation writes and administers charitable gift annuities on behalf of several member ministries and follows the rate schedule guidelines of the ACGA.