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George H'10 and Dorothy H'10 Hennings

George H'10 and Dorothy H'10 Hennings
After teaching for many years as Kean faculty, George and Dorothy retired. While they had saved enough money for retirement, they were concerned about the impact that a drop in the stock market and inflation would have on their savings.

Dorothy: We wanted to clean up our portfolio and get rid of some stocks that were not paying very well in terms of dividends. We were looking for something that could perform better.

Dorothy spoke with the Vice President of Institutional Advancement at Kean University who knew about gift annuities. Based upon her conversation, Dorothy learned that she and George would receive a good payout based upon both her and George's ages. They would also receive a charitable income tax deduction and part of the annual interest payment would be tax free.

George: Not only is the rate that we got on our Gift Annuity better then what Certificate's of Deposit can bring, but it was even outpacing inflation; thus at the end of the day, our money was really working for us, and of equal importance, upon our passing, the residual of our Gift Annuities will go toward our Endowed Scholarship that we have.

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