April 23, 1998
Group Calls for Modest Cut in Gift-Annuity Payout Rate
Charities should reduce slightly the payout rates offered to donors of gift annuities, an influential organization of planned-giving experts recommended last week.
Noting that interest rates, on which annuity payouts are based, are relatively low, the American Council on Gift Annuities suggested modest cuts in payout rates for donors in most age groups. The council also pointed out that some states limit the amount of gift-annuity assets that charities can invest in the stock market,
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