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GIFTS OF RETIREMENT PLAN ASSETS

Gifts of Retirement Plan Assets: assets for yourself and your community People who have planned carefully for their retirement may find that the assets in their IRAs and other qualified plans exceed their needs. You can designate that assets remaining in the plan after your death are contributed to a fund at the Community Foundation. This strategy can be far more advantageous than having those assets included in your taxable estate or leaving them to heirs, in which case they may be taxed at a cumulative rate of over 65%.

Highlights: No estate tax is due on the retirement plan assets that pass to YCCF. The gift will qualify your estate for a charitable deduction. The funds may be used to establish a life income trust for a person of your choice. The only document required is a change of beneficiary form, which is available from your plan's administrator. You retain access to all your retirement plan assets during your lifetime. Your fund at the Community Foundation will reflect your charitable interests. There is no minimum amount required for this type of gift.

Pension Protection Act offer lifetime transfer option - click here for details

Gifts of Retirement Plan Assets Factsheet


To learn more about designating charities as beneficiaries of your retirement plan assets through YCCF, contact Susan Barry, President at 717.848.3733 or by email.