Want to generate dependable income in your retirement years? With a charitable gift annuity, you make a gift to the area of your choosing at Baystate Health and receive fixed payments for life—for you, a loved one or both!
When you create a charitable gift annuity with Baystate Health Foundation, many wonderful things happen. You can:
- receive fixed payments for life at annuity rates at historic highs!
- enjoy partially tax-free income for many years.
- take advantage of an income tax charitable deduction.
- create a lasting legacy by dedicating your gift in honor or memory of a loved one.
Here is a sample rate chart for a cash gift of $20,000:
| Age | Payment Rate | Annuity | Deduction |
|---|---|---|---|
| 65 | 5.7% | $1,140 | $6,819 |
| 70 | 6.3% | $1,260 | $7,316 |
| 75 | 7.0% | $1,400 | $8,156 |
| 80 | 8.1% | $1,620 | $8,971 |
| 85 | 9.1% | $1,820 | $10,520 |
| 90 | 10.1% | $2,020 | $12.265 |
Please note that this information is for illustrative purposes and is not intended as tax or legal advice. Rates are subject to change and are based on rates suggested by the American Council on Gift Annuities. Gift annuities are not available in all states. Always consult an attorney, accountant, or other professional adviser before making any material decisions based on any data presented herein.
Want to explore these benefits? Reach out to us for a personalized illustration at 413-794-7789 or
Kylie.Johnson@BaystateHealth.org.