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PRCUA Annuities - A New Generation
CHICAGO, IL - OCTOBER 18,
2002 - It’s been almost two years
that your organization has been issuing this new form of benefit
certificate. Like life insurance programs, there are many assortments of
annuity certificates organizations or companies offer its members. The
Executive Board has authorized different forms of our annuity certificates
for our members.
Remember an Annuity
Certificate will identify you as a member of the Polish Roman Catholic Union
of America. You should be able to be actively involved with local society
programs. All PRCUA annuity certificates can be used, as a non-qualified or
a qualified program for retirement planning. There are now three different
annuity certificates for a member to enjoy a tax deferred or tax free
savings.
The
Millennium Series that
we have been presently issuing earns 6% annually for our members. This
annuity has the following surrender charges from the first year to the
seventh year: 8%, 7%, 6%, 5%, 4%, 3%, and 1%. The initial minimum deposit is
only $300.00. Members could add additional funds to this account, however
the minimum deposit should be at least $25.00. This minimum amount of
additional deposits is also available for the other two new annuity
certificates.
The
Classic Series has
three changes that make it a classic. It has only three years of surrender
charges. They are 3%, 2%, and 1%. The initial minimum deposit is $5,000.00.
The present interest is 5 1/2%.
The third new annuity
program has no surrender charges. It’s called the
Preferred Series. The
initial deposit is $5,000.00. The present interest rate is 5% annually.
In all programs if deposits
on the account are more than $25,000.00, the interest is available to be
paid monthly to the member and assuming the member is older than 59 and 1/2.
Members can now start any
of the three annuity programs. Just contact your
deputy,
Philadelphia office
or the home office membership department if you need additional information
regarding our life insurance or annuity contract is needed. |
