Rates Effective July 1, 2002 to December 31, 2002
Approved by the American Council on Gift Annuities
April 10, 2002
Deferred Payment Gift Annuity Factors for New York and New Jersey *
If the deferral period does not exceed 20 years, you may follow the same procedure as for all other states.
If the deferral period is more than 20 years, you must use a lower compound interest factor for the entire period. Through August of 2002, a compound interest factor not exceeding 5.25% for the entire deferral period would meet New York and New Jersey requirements in nearly all instances.
When New York and New Jersey release their interest assumptions later this year, the maximum compound interest factor for longer deferral periods may change. Information about the maximum compound interest factors for these two states will be posted on the ACGA website at that time. See www.ACGA-WEB.ORG.
* New York and New Jersey are the two states known at this time to require different interest factors for deferred gift annuities with longer deferral periods.
