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Commuted Payment Gift Annuity

Commuted Payment Gift Annuity Diagram

How It Works

  • You transfer cash or securities to Albany College of Pharmacy and Health Sciences. Our suggested minimum gift requirement is $10,000.
  • Beginning on a specified date in the future, Albany College of Pharmacy and Health Sciences begins to pay you, or up to two annuitants you name, fixed annuity payments for a period of years that you determine.
  • Beneficiaries are recommended to be at least 65 to begin receiving payments and must be at least 40 to fund the gift.
  • The remaining balance passes to Albany College of Pharmacy and Health Sciences at the end of the term of years.

Benefits

  • Commuting payments permits a higher annuity rate and generates a larger charitable deduction.
  • You can target your annuity payments for the period of years when you need them, such as between retirement and when you are eligible for full Social Security benefits.
  • The shorter the period of payments, the higher each payment will be.


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