AFAS donor establishes a charitable gift annuity as a lasting legacy.
Captain Paul Litteau was raised in an Air Force family. He was born in Chicago in 1942, during the early days of World War II, and remembers most of his upbringing having been impacted by the war.
His stepfather, Ernest R. McDowell, had planned for a life of military service. He enlisted in the Army Air Corps and was training to be a bombardier before an injury prevented him from completing that program. He continued to serve throughout the war, but in light of his injury was discharged as a Sergeant as the military downsized. For many years thereafter he authored, co-authored, or otherwise contributed to several well-regarded histories of the development of airpower for Squadron Signal Publishing Company.
“My family showed high regard and appreciation toward those who had served,” said Capt. Litteau. “For me, when my turn came, it was paying my dues. It was what I owed my country and those who had served before me.”
Capt. Litteau enrolled in the ROTC program at Lane Technical College Preparatory High School in Chicago. He then continued in Air Force ROTC while attending Illinois Institute of Technology (IIT), where he attained a degree in Mathematics, with a minor in Physics.
After graduation, and upon completion of the summer camp requirement, he was commissioned as a Second Lieutenant on July 11, 1964. His academic background fit the profile of an Air Force weather officer, which was his assigned specialty.
Capt. Litteau and his high school sweetheart Donna were married shortly after he was commissioned, and he spent the first year of their married life at Texas A&M University where he completed the Air Force professional meteorology training program. Texas A&M was one of several schools used by the Air Force at the time for this purpose. Capt. Litteau recalls that there were about 100 newly commissioned fellow officers in the program at that time.
After completion of training, his first duty assignment was as a Weather Officer to Suffolk County Air Force Base, an Air Defense Command base on Long Island. Capt. Litteau served there until the completion of his active duty obligation and was discharged in 1968.
“I didn’t have a clear career goal after college,” Capt. Litteau recalled. “The Air Force provided me with a great opportunity to use and develop my background. It was an interesting job, which gave me the chance to be a part of operations and to work with the pilots and meet astronauts as they passed through.”
After the Air Force, Capt. Litteau says he was introduced to the financial services industry through his military connections. He began this career with the National Association of Securities Dealers, now known as the Financial Industry Regulatory Authority (FINRA), and later served as a vice president for a large international investment bank. While working during the day, he obtained his MBA degree in finance from the part-time program at Loyola University of Chicago.
Since 1982, Capt. Litteau has had his own consulting and educational practice in financial services. He has worked with and for governmental, industry and academic groups in the USA, Eastern Europe, Africa and Asia. He has trained personnel involved in the securities industry from entry to managerial level and has taught graduate and undergraduate level finance courses. He has also served as an arbitrator for FINRA and has assisted parties engaged in litigation and dispute resolution.
Capt. Litteau has established charitable gift annuities with AFAS and other organizations. “I wanted to make this part of my estate plan, providing for organizations that have had an impact on my life, as well as with other entities with which we have worked, and which are providing worthwhile services,” he said.
These have included colleges where he earned his degrees, as well as charities serving those in need nationally and internationally. “I like setting up charitable gift annuities because it is not just a one- time disbursement. The funds will be there and will be used over the long-term to meet needs as they arise,” he added.
For his most recent charitable gift annuity, he looked for an agency that provided support to those serving in the Air Force and their families. The Air Force Aid Society’s mission, along with its four-star rating on Charity Navigator met these objectives.
“It is important to be there for those who have volunteered to serve our country,” he said. Capt. LItteau
urges potential donors to think of contributing to AFAS because “you know where the assistance is going.” Adding that, “Airmen and their families who will receive it have earned our support.”