First Catholic Slovak Ladies Association
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Annuities

FRATERNALLY YOURSSM

 

Annuities are designed as principal preserving, long term investments, which can provide funds for retirement. We offer both a non-qualified annuity and qualified Traditional and ROTH IRA annuities. All our annuities are no-load and tax-deferred (funds are taxable only at the time of withdrawal), and have some of the lowest early surrender penalties in the industry.

 

Competitive No-load Fixed Annuities

Silver Elite

  • Flexible Premium Deferred Annuity (Contract FPA(5)-0713)
  • 2.75% APY current credited interest rate 4/1/21 - 6/30/21*
  • 2.00% APY minimum guaranteed
  • $250 minimum initial premium; $100 minimum subsequent
  • $500,000 maximum lifetime premium
  • 5 year withdrawal penalty (6% first year, decreased by 1% each subsequent year)

Gold Elite

  • Flexible Premium Deferred Annuity (Contract FPA(7)-0713)
  • 3.00% APY current credited interest rate 4/1/21 - 6/30/21*
  • 2.00% APY minimum guaranteed
  • $250 minimum initial premium; $100 minimum subsequent
  • $500,000 maximum lifetime premium
  • 7 year withdrawal penalty (8% first year, decreased by 1% each subsequent year)

Platinum Elite

  • Flexible Premium Deferred Annuity (Contract FPA(10)-0415)
  • 3.25% APY current credited interest rate 4/1/21 - 6/30/21**
  • 2.00% APY minimum guaranteed
  • $250 minimum initial premium; $100 minimum subsequent
  • $500,000 maximum lifetime premium
  • 10 year withdrawal penalty (9% first two years, decreased by 1% each subsequent year)

 

Flexible Premium Deferred Annuity

  • Annuitant accumulates funds with interest which is compounded daily. Ongoing deposits are permitted, and may be made via Electronic Funds Transfer (EFT).
  • Minimum deposit is $250.
  • Our competitive interest rates are reviewed by the Board of Directors on a quarterly basis. Rates may be adjusted, but will never go below the guaranteed minimum rate established by the annuity contract.
  • Prior to settlement, annuitant may withdraw all or part of the accumulated funds, subject to the Association's Early Withdrawal Penalty.**
  • FCSLA allows a one-time, per contract year, 10% penalty free withdrawal during the first 5, 7 or 10 years.* After year 5, 7 or 10, there is no FCSLA penalty on annuity withdrawals, even on additional deposits.
  • Flexible Premium Deferred Annuities Early Withdrawal Penalty:
    • Silver Elite (5 year): 6% the 1st year, and decreases by 1% each subsequent year.**
    • Gold Elite (7 year): 8% the 1st year, and decreases by 1% each subsequent year**
    • Platinum Elite (10 year): 9% the 1st and 2nd year and decrease by 1% each subsequent year.**
  • At any age, the annuitant may receive interest only payments, or select a type of periodic payment offered by the Association.**
  • If annuitant dies prior to settlement, funds on deposit are payable directly to the named beneficiary(ies).

Single Premium Immediate Annuity

  • Uses annuitant's initial large premium deposit as the basis for immediate contracted settlement payments.
  • Annuitant is "locked in" to the settlement option, payment amount, payment scheduled selected, and rate in effect for settlements at time of commencement.
  • Scheduled payments may be sent directly to annuitant's bank account via Electronic Funds Transfer (EFT).
  • Minimum deposit is $2,000.00.
  • Generally, if annuitant dies prior to receiving all guaranteed payments, the remaining present value of such guaranteed payments is payable to the named beneficiary(ies).

* Our credited rate is reviewed quarterly and will not go below minimum guaranteed rate.
** A 10% federal tax penalty may apply to certain distributions if taken before the owner is age 59-1/2.

For more information about these financial products, please use our interactive contact form.

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