Archbishop's web site Denver Catholic Register Parishes Catholic Pastoral Center

August 9, 2000


Catholic Charities offers charitable gift annuities

By Laurie Dunklee

If you are retired or getting ready to retire, you may be looking for a way to maintain a stable income and protect your savings. Investing in a Catholic Charities Gift Annuity is a reliable and lucrative way to help accomplish these goals, according to Judy Megyesy, vice president of resource development at Catholic Charities.

"Both the stock market and interest rates can fluctuate wildly, but Catholic Charities will guarantee an excellent fixed rate of return," said Megyesy. Gift annuity rates are based on the age of the person when they invest. At age 65, a person can receive a 7 percent rate. A 70-year-old receives 7.5 percent, and 12 percent is paid to people who invest at the age of 90 or older. Charitable Gift Annuities require a minimum investment of $10,000.

For example, a 65-year-old person who invests $10,000 will receive a payment of $175 every three months. Catholic Charities is the beneficiary of the investment following the death of the investor.

Megyesy said that when considering buying an annuity it's most important to check the longevity and stability of an organization before investing. Also essential, she said, is seeking the advice of a financial planner.

Investing in a Catholic Charities Gift Annuity carries the added benefit of helping the less-fortunate, Megyesy said. "Investors will not only enjoy significant financial benefits during their lifetimes, but also support the work of Catholic Charities after death." Catholic Charities, started in 1927, runs 46 programs to help the poor, the homeless, children, the elderly, the disabled and others in Colorado.

In addition to the high interest rates offered, financial benefits include significant tax advantages, Megyesy said. "Funding an annuity with a donation of appreciated stock can cut your capital gains costs dramatically."

For an information packet on a Catholic Charities Charitable Gift Annuity, call Megyesy at 303-742-0823, ext. 400.


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