Boy Scouts of America
Gift Annuity Rates
One Life |
Age |
Rate |
50-51 |
6.3% |
52-54 |
6.4% |
55-56 |
6.5% |
57-59 |
6.6% |
60-61 |
6.7% |
62 |
6.8% |
63-64 |
6.9% |
65 |
7.0% |
66 |
7.1% |
67 |
7.2% |
68 |
7.3% |
69 |
7.4% |
70 |
7.5% |
71 |
7.6% |
72 |
7.7% |
73 |
7.8% |
74 |
8.0% |
75 |
8.2% |
76 |
8.3% |
77 |
8.5% |
78 |
8.7% |
79 |
9.0% |
80 |
9.2% |
81 |
9.4% |
82 |
9.6% |
83 |
9.9% |
84 |
10.2% |
85 |
10.5% |
86 |
10.8% |
87 |
11.1% |
88 |
11.4% |
89 |
11.7% |
90-over |
12.0% |
Two Life |
Age1/Age2 |
Rate |
50/50 |
6.1% |
55/55 |
6.2% |
55/60 |
6.3% |
60/60 |
6.4% |
60/65 |
6.4% |
65/65 |
6.6% |
65/70 |
6.7% |
70/70 |
6.8% |
70/75 |
7.0% |
75/75 |
7.3% |
75/80 |
7.5% |
80/80 |
8.0% |
80/85 |
8.4% |
85/85 |
9.0% |
85/90 |
9.6% |
90/ |
10.6% |
Deferred Annuity
Rates |
One Life |
Age |
Years Deferred |
Rate |
50 |
5 |
8.3% |
50 |
10 |
11.0% |
60 |
5 |
8.8% |
60 |
10 |
11.7% |
Two Life |
50/50 |
5 |
8.1% |
50/50 |
10 |
10.7% |
55/55 |
5 |
8.2% |
55/55 |
10 |
10.8% |
60/60 |
5 |
8.4% |
*Example: Mr. and Mrs. West (ages
70 and 68) make a gift of $10,000 to the National Gift Annuity
Program. They make their gift using stock with an annual dividend
of 2 percent. Their gift annuity gives them a current income
tax deduction of about $3,000 and a guaranteed annuity of $680
a year for the rest of their lives. This more than triples their
current income from this stock, and part of each payment will
be tax-free for years to come. |
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The National Gift Annuity Program |
What Is It?
The BSA Gift Annuity
Program is a program that allows you to make a gift to Scouting
and receive both a guaranteed lifetime income and a charitable
income tax deduction. The income is paid each quarter for one
or two lives, as you choose. You can even decide whether you
want the payments to begin immediately, or defer them until later.
What Kind of a Gift Must I Make?
Though the gift can
be as large as you want, it must be a minimum of $2,500 to receive
a gift annuity. However, your gift can be made with cash, stocks,
bonds, or shares in a mutual fund.
How Much Income Would I Receive Each
Year?
It depends on age.
To receive a current gift annuity, you must be at least 50 years
of age at the time of your gift. But the older you are, the higher
the annuity rate. Once your annuity is set, the payments will
not change for the life of the annuity. We normally use the rates
of return recommended by the American Council on Gift Annuities.
If you choose to defer the start of your payments - for example,
to coincide with your retirement - your annual annuity rate will
be higher than for annuities that begin paying you now.
Can I have the Annuity Payments Go
to Others Than Me?
Certainly. You can
create a gift annuity for children, grandparents, parents, retiring
employees, or anyone you choose.* We now
offer a limited-term college annuity option. It might help provide
some extra income for your college-bound child or grandchild,
and beneficiaries need not be 50 years of age.
How Would the Income Be Taxed?
If you use cash to
make your gift, a large portion of each payment will be taxable
income. If you make your gift with stock or other appreciated
property, each annuity payment will be a mix of tax-free income,
ordinary income, and capital gain. When you create a gift annuity
(or if you will request personalized information), you receive
a summary of how your annuity payments will be taxed.
Are There Other Tax Benefits?
When you create your
gift annuity, you receive an immediate income tax charitable
deduction. It is based on the fair market value of your gift.
It varies with the annuity return and the age of the beneficiaries
(as a rule, older beneficiaries receive larger charitable tax
deductions). The gift may also save probate costs and estate
taxes (since the property is no longer in your estate). If you
make your gift with appreciated property, you also spread out
any capital gains over the life of the annuity, rather than pay
it all at once.
How Will My Local Council Benefit
From This Gift?
Though this program
is offered through the BSA National Council, your gift can be
used to benefit the local council of your choice. When your gift
annuity payments end, the remaining value of your gift is distributed
to your selected council to benefit its Scouting programs. At
that time, a small percentage of your gift is used to cover part
of the administrative costs we have incurred for your gift annuity.
Who Administers This Program?
State Street Global
Advisors in Boston, Massachusetts, administers all gifts made
to this program. It is one of the industry leaders in gift annuity
management and is responsible for investing your gift and sending
out all annuity checks and tax statements. However, the general
assets of the Boy Scouts of America guarantee your annuity for
life.
How Do I Get More Information About This Program?
Contact your local
council, or call the BSA national office at 800-BSA-INFO. You
will receive more information and a simple gift annuity agreement
to review with your own attorney or tax adviser. If you provide
us with your age and the type and size of the gift you are considering,
you will also receive a personal summary of the income and your
estimated tax benefits for the gift you are considering. This
is free of charge, confidential, and with no obligation.
The BSA Gift Annuity Program
is an exciting, effective, and innovative way to provide for
Scouting's financial future and benefit you and your family as
well. Find out more today!
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