Announcements
RATES ANNOUNCEMENT
The Board of Directors of the ACGA met on November 21, 2022 and voted to increase the rate of return assumption we use when suggesting maximum payout rates for charitable gift annuities. The return assumption will be moving to 5.25% from 4.50%, effective January 1, 2023. As such, the suggested maximum payout rates for single-life annuity contracts will be moving higher by approximately 0.6%, depending on the age of the beneficiary. The suggested maximum joint-life annuity contracts will also be heading higher by a similar amount. The ACGA expects to make the new rates available to members on December 5th and to the general public on December 19th. Please consider joining the ACGA for early access to the new suggested maximum payout rates.
OCTOBER UPDATE: ACGA Report on Progress in Resolving Gift Annuity Rate Challenges in New York State
The ACGA continues its work with regulators in New York State regarding maximum allowable charitable gift annuity payout rates. For more information on the background and the solution we are working on with the New York Department of Financial Services, please click here to read more.
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