Fall 2009 - Presbyterian Homes & Services
Fall 2009 - Presbyterian Homes & Services
Fall 2009 - Presbyterian Homes & Services
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Giving and Receiving<br />
through a Charitable Gift Annuity<br />
After a successful career helping<br />
employers with employee pensions and<br />
profit-sharing, Hugh Madson knows a wise<br />
charitable gift option when he sees one.<br />
<br />
Hugh and Marilyn<br />
Madson<br />
That’s why he and his wife, Marilyn, agreed<br />
to arrange a Charitable Gift Annuity (CGA),<br />
transferring financial assets to <strong>Presbyterian</strong><br />
<strong>Homes</strong> Foundation (PHF) in exchange for a<br />
guaranteed, fixed income for life.<br />
Hugh and Marilyn are life-long St. Croix<br />
Valley residents who lived in Lake Elmo,<br />
Minnesota for nearly 50 years. They moved<br />
to the Brownstones at Boutwells Landing<br />
in 2004, and credit Steve Preus, PHF<br />
Executive Director, for their involvement<br />
in the planning of and fundraising for the<br />
Boutwells Landing care center. “We have<br />
been very impressed with the management<br />
of <strong>Presbyterian</strong> <strong>Homes</strong> & <strong>Services</strong> (PHS)<br />
and the Foundation,” said Hugh.<br />
Years before he was ready to retire from<br />
Aetna Life Insurance Company, Hugh held<br />
countless conversations with employees<br />
and employers as they considered<br />
what pension options would best suit<br />
their goals. So when Hugh and Marilyn<br />
considered their own retirement plans, the<br />
concept of a CGA was not new to them.<br />
The choice was appealing. “With the way<br />
the economy is developing along with our<br />
personal planning, we thought this was a<br />
good time to take advantage of (a CGA)<br />
to give to an organization we believe in,”<br />
said Hugh. The advantage is that while<br />
supporting PHS, a CGA also offers them<br />
a valuable stream of income for their lives.<br />
Their CGA is a simple contractual<br />
agreement between the Madsons and<br />
<strong>Presbyterian</strong> <strong>Homes</strong> Foundation. Their gift<br />
effectively advances the mission of PHS,<br />
while they receive fixed payments each<br />
year for life, a portion of which is tax-free.<br />
Their annual payment is guaranteed - no<br />
matter what happens to interest rates or<br />
to the stock market. Hugh explains. “It fits<br />
well into our overall planning.”<br />
Hugh and Marilyn’s plans fulfill their<br />
philanthropic as well as financial goals.<br />
“A CGA provides us with the opportunity<br />
to make a charitable gift and receive a<br />
reasonable income” said Hugh. After their<br />
lifetime, the remaining amount of their<br />
gift will be used to support PHS. “Over<br />
the years we have given to charitable<br />
organizations that provide excellent service<br />
to others. We believe PHS does just that.”<br />
To find out if a CGA meets your personal,<br />
financial, and philanthropic goals,<br />
contact <strong>Presbyterian</strong> <strong>Homes</strong> Foundation.<br />
A representative will answer any<br />
questions and provide a confidential,<br />
no-obligation calculation of your PHF<br />
Charitable Gift Annuity.<br />
24<br />
CHARITABLE<br />
GIFT ANNUITY<br />
RATES<br />
FALL <strong>2009</strong><br />
ONE LIFE<br />
Your Age Annuity Rate<br />
50 4.40%<br />
55 4.80%<br />
60 5.00%<br />
65 5.30%<br />
70 5.70%<br />
75 6.30%<br />
80 7.10%<br />
85 8.10%<br />
90+ 9.50%<br />
TWO LIVES<br />
Your Age Annuity Rate<br />
50/55 3.90%<br />
55/60 4.40%<br />
60/65 4.80%<br />
65/70 5.00%<br />
70/75 5.30%<br />
75/80 5.80%<br />
80/85 6.50%<br />
85/90 7.50%<br />
90/95+ 9.00%
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