Annuities

( Establish Annuity Form, Single Life Rate Chart, Two Life Rate Chart )

( Charitable Gift Annuities, Deferred Gift Annuities )
( Charitable Lead Trust, Charitable Remainder Annuity or Unitrust )

Statement from Bishop

As Bishop for the Catholic Diocese of Fairbanks, I want to thank you for your interest in learning how to establish an annuity with the Catholic Bishop of Northern Alaska (CBNA), the corporate legal name for the Diocese of Fairbanks.  Without support from people like you, it would indeed be difficult to provide even basic ministries to the many Eskimo and Athabascan village Catholic parishes in the remote bush areas who are not able to sustain the costs and upkeep of their parishes and ministers.  I am especially grateful if you have supported our missions in the past.

On our annuities, we follow the rates published by the American Council on Gift Annuities.  Our current rates for both Single Life and Two Life Annuites are also available for your review at the links above.  Payouts on your annuity can be made in monthly, quarterly or annual payments.  With either an outright cash gift or by common stock transfer, you can open an annuity with CBNA.  For example, if you opened an annuity of $10,000.00, and you are 55 years old, you would look at the rate chart to see what percentage is the payout.  If the rate is 5.5% for that group, the annual payment would be $550.00.

If you would like to discuss establishing an annuity further, please do not hesitate to contact me or my staff.  Thank you again for your interest in establishing an annuity with our Diocese.  I pray that God blesses you and your loved ones throughout the year.

Sincerely yours,

Bishop Donald Kettler


Charitable Gift Annuities

This type of annuity provides fixed income for the life of one or two people. Interest rates are based on the annuitant's age and payments are available on an annual, semi-annual, quarterly or monthly basis. The annuity can be funded with cash, common stock, or securities. Upon the death of the last surviving annuitant, the remaining assets will be retained by the Catholic Bishop of Northern Alaska for support of our ministries or restricted to a diocesan program of your choice.

Deferred Gift Annuities
Similar to an immediate payment annuity except that the payments begin at a future date determined by the donor at the time of the gift.

Charitable Lead Trust

Through cash, common stock or real estate, this gift operates in the opposite manner of a remainder trust, in that current income for a specific period of the trust is used by the Catholic Bishop of Northern Alaska. After a specified period of time, the corpus is returned to the donor or beneficiary.


Charitable Remainder Annuity or Unitrust

Like the gift annuity, the donor receives a life-time income and may receive an immediate charitable tax deduction. It is usually funded with real estate, common stock, or cash.

Disclosure

These qualified charitable gift annuitues are not insurance policies in the State of Alaska, are not subject to regulation by the Insurance Division and are not protected by the Life and Health Insurance Guaranty Association established under Alaska Statute AS 21.79.040 or any other association that guarantees payments under policies of insurance. The State of Alaska does not in any way approve or endorse these annuity agreements.

Catholic Bishop of Northern Alaska
ATTN: Finance Office
1316 Peger Rd
Fairbanks, AK 99709
907-374-9500 907-374-9580 (Fax)
Tom Buzek or Rev. Mr. George W. Bowder
tom@cbna.org or finance@cbna.org
Files