How One Donor Compares Gift Annuities and Commercial Annuities

In the summer of 2024, Don Aronoff of Parkville, MD sent the following letter to the editor about an article he read in Barron’s about commercial annuities:

“I was surprised that your article didn’t discuss charitable gift annuities. These annuities provide the donor with an opportunity to ensure lifetime income and contribute to a nonprofit organization. When you take into account the tax benefits of gift annuities, they provide a return that is competitive with commercial annuities. Why make money for an insurance company when you can support a worthy cause?”

Former ACGA Board Member Dave Libengood, Chief Client Relationship Officer at TIAA Kaspick, saw the letter to the editor and managed to locate Mr. Aronoff, who agreed to be interviewed on camera about why he incorporates gift annuities into his retirement income planning for himself and his wife Sandra. We thought you would enjoy watching the interview, which was conducted by Dave’s colleague, Laura Alexander below.  ACGA members can also view the webinar on How Donors Compare CGAs with Commercial Annuities in our webinar library, here.