Higher Rates as of January 1, 2023
On November 23, 2022, the American Council on Gift Annuities (ACGA) announced that it would be increasing its suggested maximum annuity rates, effective January 1, 2023. The new rates replace the rates that became effective July 1, 2022. The ACGA’s decision to increase its suggested maximum gift annuity rates was triggered by the sharp rise in interest rates that started in March 2022 and has continued since July 2022.
For most gift annuities, the new rates are 0.6% - 0.7% higher than the rates they replace. If you defer the start of payments for a year or more, the increase is even greater.
Ordinarily, you would expect a higher annuity rate to result in a lower charitable deduction. However, the new deductions available in January 2023 will be about the same as they were in July 2022, despite the higher ACGA rates. This is because in the second half of 2022 there has been a spike in the interest rate used to compute gift annuity deductions. The recent spike in this interest rate does have a negative effect; it has reduced the tax-free portion of annuity payments.
The combination of higher annuity rates and substantial deductions makes gift annuities even more attractive to donors seeking to make a gift and receive fixed payments for life.
AMC’s professional outdoor guides lead all-inclusive trips for all ages, skill levels, and interests. Whether it’s conquering the White Mountain 4,000-footers, skiing lodge-to-lodge in Maine’s 100-Mile Wilderness, or hiking from basecamp to AMC’s famous high mountain huts, AMC’s staff-led, guided adventures offer an outdoor experience for everyone. These pre-packaged trips include everything you need, from food and lodging to safety training and most of the necessary gear.See All Trips
AMC’s network of trained and dedicated volunteers lead free trips and activities throughout the Mid-Atlantic and Northeast. Meet new people and learn new outdoor skills close to home with local trips, skills and leadership training, social events, conservation action, and more.See All Trips
Design your adventure with help from one of AMC’s professional outdoor guides. Our custom adventures offer more flexibility and a wider range of options than our free or guided group programs. Great for individuals, families, or groups. You pick the activity, time, and skill level. All custom adventures include leadership by our professional guides who are trained in outdoor education, wilderness medicine, outdoor skills, and natural history.Book Now