Foundation

Planned Giving

Gifting Retirement Plan Assets

Like many individuals, you’ve probably accumulated assets in a retirement plan to assure a secure future. And like most individuals, you probably don’t know that these plans are subject to both income and estate tax which could reduce these assets by as much as 65% more! Good news – with careful planning you can maximize the benefit of your retirement plan for both you and your heirs when making a charitable gift to JCC. Contact the Foundation to learn how your gift can produce income for you or a family member, while at the same time supporting the College’s vital mission.

Donors 70 1/2 and older may gift up to $100,000 to the College from their IRA in 2006 and 2007! While there is no charitable income tax deduction for the IRA rollover, the distribution is not included in the donor's taxable income, thus simplifying the donor's tax return and saving some tax. An added bonus is that an IRA rollover by December 31 of this year will qualify for all or part of the IRA owner's required minimum distribution for 2006.

 

If you’d like to learn more about the many options available to you, simply call or email us with your questions.

Phone: (517) 787-0244 - Email: foundation@jccmi.edu

This information is not intended as legal, tax, life insurance or investment advice. Please contact your attorney, tax professional, life insurance professional or investment professional for specific advice.