Exciting News About Charitable Gift Annuities (CGA)

• Payout rates increased January 1, 2023. Earn more each quarter for your (or your and your spouse’s) lifetime. Minimum gift is $10,000.

• The newly passed Secure 2.0 Act allows a one-time rollover of $50,000 from an IRA to a CGA. How it is different if you fund a CGA from your IRA:

• the annuitant must reach an age that has a 5% or higher payout rate

• the payments from the CGA must benefit either the IRA owner or the IRA owner and spouse

• all future annuity payouts from a CGA funded from an IRA will be reported as ordinary income in the year received by the annuitant