CGA Rates Are Going Up Again!
The news keeps getting better for the gift that pays you: a charitable gift annuity (CGA). For the second time in just six months, payout rates are increasing. As of Jan. 1, they will be higher than they have been in more than a decade, making it a great time to consider this gift that benefits you and Hartwick College.
This amazing gift provides you with stable, regular income—regardless of the economy. After your lifetime, the remaining amount becomes part of your legacy at Hartwick, allowing us to thrive far into the future.
How It Works
With a CGA, you make a donation using cash, marketable securities or other assets, and we, in turn, pay you a fixed amount for life. You’ll receive reliable, predictable payments for your lifetime (and the lifetime of a loved one, if you choose).
It’s a great time to contact Patricia Dopazo at 607-431-4020 or dopazop@hartwick.edu for a personalized illustration at no obligation.
For Example
Barbara, 72, transfers $25,000 in exchange for a CGA.
With the old rates: Barbara received annual payments of $1,375, a rate of 5.5%.
With the new rates: Barbara receives annual payments of $1,550, a rate of 6.2%. This is a payout rate increase of approximately 0.7%.
New Rate Charts (effective Jan. 1, 2023)
One Recipient
| Age | New Rate | Old Rate |
|---|---|---|
| 60 | 4.9% | 4.5% |
| 65 | 5.4% | 4.8% |
| 70 | 5.9% | 5.3% |
| 75 | 6.6% | 6.0% |
| 80 | 7.6% | 7.0% |
| 85 | 8.7% | 8.1% |
| 90+ | 9.7% | 9.1% |
Two Recipients
| Ages | New Rate | Old Rate |
|---|---|---|
| 60/65 | 4.5% | 4.1% |
| 65/70 | 4.9% | 4.5% |
| 70/75 | 5.5% | 4.9% |
| 75/80 | 6.1% | 5.5% |
| 80/85 | 7.0% | 6.3% |
| 85/90 | 8.3% | 7.5% |
| 90/95+ | 9.5% | 8.8% |
These rates are subject to change. Please contact us for a personalized illustration.
Additional Benefits
With this gift, you’ll also enjoy:
- A partial income tax charitable deduction for your gift when you itemize.
- Part of each payment being income tax-free throughout your estimated life expectancy.
Tip: Consider Giving Appreciated Assets
Funding a CGA with appreciated assets, such as securities, will not only provide you with reliable payments for life and allow you to support our work, but it can offer financial benefits. You will receive a federal income tax charitable deduction (when you itemize) in the year the gift is made and eliminate part of the capital gains tax you would have paid if selling the securities.
Request Your Personalized Example
We would be happy to send you a free, no-obligation calculation showing you the increased benefits you can receive from a CGA. Your personalized calculation will include your potential income tax charitable deduction and our annual payments to you for life. Contact Patricia Dopazo at 607-431-4020 or dopazop@hartwick.edu to begin.