Deferred Gift Annuity
How It Works
- You transfer cash or securities to Skidmore College. Our suggested minimum gift requirement is $10,000.
- Beginning on a specified date in the future, Skidmore begins to pay you, or up to two annuitants you name, fixed annuity payments for life.
- 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 Skidmore when the contract ends.
Benefits
- Deferral of payments permits a higher annuity rate and generates a larger charitable deduction.
- You can target your annuity payments to begin when you need them, such as retirement.
- The longer you elect to defer payments, the higher your payment will be.
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- More details on Deferred Gift Annuities.
- Frequently asked questions on Deferred Gift Annuities.
- Contact us so we can assist you through every step.
