Retirement Plan Beneficiary
Naming Southeastern as the beneficiary of an IRA, 401 (k), 403(b), or other tax-deferred retirement plan is an increasingly populary way to give.
Because of the way qualified plans are taxed, at your death relatively few of the assets in the plan may end up in the hands of family members or beneficiaries. These assets are included in your gross estate for federal estate tax purposes, and are also taxed when received by the beneficiaries as income in respect of the decedent.
Funding a charitable gift to Southeastern with these assets generates an estate tax charitable deduction and Southeastern will not have to pay income tax on the assets when they are received. Using retirement plan assets as a gift to Southeastern and other assets for family members can be beneficial to all.
For more information, please contact:
Lynn Harris Horgan
(985) 549-2239
or toll free (866) 474-4438
email to: lhorgan@selu.edu