2016 LIFE MEMBERSHIPS
Jack B. Ashcraft, Clarence A. Barrett, Christopher D. Collins*,
Robert E. Collins*, Harry E. Cruncleton, Jerry N. Hess, Frank X. Hodalski*,
Daniel F. Kennedy*, Richard K. Mahaffey*, Scott G. McMurry*,
Victor G. McMurry*, Joseph P. Rhein*, Charles W. Riegle,
William A. Segraves *, Charles T. Sweeney*
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Saramana, in 1992, made it possible for our members to purchase a Life Membership. In essence this means that once a Saramana Member purchases a Life Membership to the National Society Sons of the American Revolution, these same members can purchase a Life Membership to the Florida SAR Society, Sons of the American Revolution and a Life Membership to the Saramana SAR Chapter.
The money received from a Saramana Member for the Florida SAR Society and Saramana Life Membership is deposited into the Saramana SAR Operating Trust Fund, and the earnings these funds generate are used to pay to the Saramana Treasurer each year the Chapter and State Dues. Some principal from these deposited funds may also have to used, but the Trust and the Chapter are committed to pay these dues as long as the member is alive.
Life Membership in the National Society, Florida SAR Society and Saramana SAR is available to be purchased at a rate that depends on your age.
Please note that the two Documents listed below will REQUIRE that you have and use the latest version of the “FREE” Adobe Reader.
For more information on obtaining and using Adobe Reader, please click on Using PDF Files.
For the Application and to view the costs for a Life Membership in the National Society, please visit https://sar.org/sar-forms-and-manuals , scroll down to Organizational Forms and under that find and click on National Life Membership Application Form to open the PDF file.
To view the costs for a Life Membership in the Florida SAR Society and the Saramana SAR Chapter, please click on Life Membership Fee Scheduleto open a PDF file.
The primary advantage of a Life Membership is that you never have to pay dues again, and never have to be concerned if dues are increased in the future.
I suggest you look at the 2015 IRS Publication 590-B, to see what they say about Life Expectancy. That publication is available athttps://www.irs.gov/pub/irs-pdf/p590b.pdf. Please scroll down to page’s 42 and 43 and you can see what I used to do the sample calculation below.
From the IRS Publication 590-B Life Expectancy table, at age 69 a Compatriot is expected to live 69 plus 17.8 years or until he reaches about 87 years young.
Paying National Dues for 18 years is (18 x $35) or $630.00. A Lifetime Membership would cost $425.00 which means a potential savings of $205.00.
Paying Chapter and State Dues for 18 years is (18 x ($32 + $20)) or $936.00. A Lifetime Membership thru our Operating Trust Fund would cost $740.00 which means a potential savings of $196.00.
Please remember that these potential savings do NOT include possible dues increases, so your savings could be greater.
Yes, it is an unknown if we will live the 18 years to make it to 87. But, if we make it to 87, the Life Expectancy table says we will make it another 7 years. Seven years of National Dues is another $245.00 saved and seven years of paying Chapter and State Dues is $364.00. How the potential for savings adds up.
If you would like help performing these same calculations, please e-mail Vic McMurry, the Treasure for the Saramana Operating Trust Fund. He will be glad to answer your questions.