GIFTS OF RETIREMENT

Retirement Plan Assets

For many UA Hillel supporters, retirement plan assets (Individual Retirement Account (IRA), 401(k), KEOGH, or other qualified profit sharing or pension plans) have become an ever-increasing portion of their net worth. By using these assets to make a charitable gift to the UA Hillel, you can take advantage of an incredibly powerful wealth management tool to benefit yourself, your family, and ensure a stronger Jewish future. 
 
In some instances, as much as 70% of retirement assets can be consumed by taxes after the plan owner's death. Through careful planning, you can preserve the value of your retirement assets by using them to make a charitable gift to the UA Hillel. This allows you, not the government, to choose how a potentially substantial portion of your lifetime savings is used. You could then use other tax-advantaged assets (cash, securities or property) to make gifts to your heirs.

There are several ways you can avoid a potentially crippling tax burden on your retirement assets:

• Change your retirement plan beneficiary designation to name the UA Hillel: The Foundation for Jewish Campus Life as the sole or partial beneficiary of your retirement plan(s). Because the UA Hillel is a tax-exempt organization, the full value of these assets would support Jewish life on campus.
• Make a testamentary transfer of your retirement plan assets to a  charitable remainder trust. Your estate gets a tax deduction for the remainder interest coming to the UA Hillel, and your heirs would be taxed only on the annual income flowing through the trust.

Beneficiary Designations
 
Because distributions from retirement plans are not subject to beneficiary designations made in your will or revocable trust, it is very important that you carefully review the beneficiary designations you make under the retirement plan itself. You should contact your plan administrator directly to obtain the necessary beneficiary designation forms. 
 
To designate the UA Hillel as a beneficiary of your retirement plan, your plan administrator may need the following information:

The Hillel Foundation at the University of Arizona is classified as tax-exempt under Internal Revenue Code 501(c)(3). The federal tax ID # 86-6053800.

The information on this Web page is for illustration purposes only and should not be considered legal, accounting, or other professional advice. The actual benefits of your gift may vary depending on your individual circumstances. The UA Hillel's development professionals would be happy to assist you and your advisors in determining the best gift plan for you.
 
If you have questions or would like to learn more about making a gift of retirement plan assets, you may contact Michelle Blumenberg at (520) 624-6561 or via email.