Qualified charitable distribution increases
Beginning in 2024, the maximum annual amount that IRA owners age 70 1/2
and older can give as a qualified charitable distribution (QCD) is indexed
for inflation. The 2024 QCD limit for outright gifts is $105,000. The QCD limit
for funding a charitable gift annuity or charitable remainder trust is $53,000.
Higher payout rates for charitable gift annuities
The payout rates for charitable gift annuities increased on January 1, 2024, for the third time in less than two years, making this a great time to explore this popular, tax-advantaged giving opportunity.
New gift annuity rates:
| AGE | RATE | PAYMENT* |
| 65 | 5.7% | $5,700 |
| 75 | 7.0% | $7,000 |
| 85 | 9.1% | $9,100 |
* Single-life rate annual payments for a $100,000 gift. Two-life rates will be lower.
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If you have included a gift to the University of Minnesota or M Health Fairview in your will or other estate plan, thank you!