Retirement Assets

You are here

A gift of retirement plan assets can be a surprisingly easy way to reduce potentially very high taxes and provide support to Colburn School.

A gift of retirement plan assets could be right for you if:

  • You have an IRA or qualified retirement plan, such as a 401(k) or 403(b).
  • You do not expect to use all of your retirement plan assets during your lifetime.
  • You have other assets, such as securities and real estate, that you want to pass to heirs.
  • You may want to provide payments to loved ones after you are gone.
  • You would like to make a bequest gift to Colburn School.

Option 1: Make a tax-free gift with an IRA charitable rollover
You can make an immediate tax-free gift by transferring up to $100,000 directly from your traditional IRA to Colburn School (other qualified retirement plans such as 401(k)s and 403(b)s are not eligible). You must be at least 70 ½ years old to take advantage of this opportunity. 

The benefits of an IRA charitable rollover gift include:

  • Satisfying the required minimum distribution.
  • Avoiding income tax on IRA withdrawals.
  • Supporting the important work of Colburn School with a tax-free gift.

Option 2: Designate remaining retirement plan assets for Colburn School
Another attractive option is to designate Colburn School as the recipient of some or all of what’s left in your IRA, 401(k), 403(b), or other qualified plan when it ends.    

In addition to having the satisfaction of making a significant gift to Colburn School, your benefits include:

  • Making a gift completely free of federal and state taxes that can total 37.0% or more, if your estate exceeds the applicable exemption.
  • Preservation of non-retirement plan assets for family.

Option 3: Designate remaining retirement plan assets for a life income plan
Alternatively, you can designate that some or all of the assets remaining when your IRA, 401(k), 403(b), or other qualified plan ends be used to fund a gift arrangement that will make payments to family members or other loved ones for the rest of their lives. When the gift arrangement ends, what is left will go to Colburn School.

In addition to having the satisfaction of making a significant gift to Colburn School, your benefits include:

  • Potentially saving federal and state taxes.
  • Preserving non-retirement plan assets for family.
  • Providing payments to family or other loved ones for life.
powered by finalsite