Give Through a Qualified Retirement Plan
For many years, you may have saved diligently for your retirement through your Individual Retirement Accounts (IRA), 401(k) Plans, Keogh Plans, or your company's pension plan. These retirement plans can be used to benefit the International Rescue Committee and the refugees we serve.
GIVING RETIREMENT PLAN ASSETS
| - | Fulfill a desire to make a gift to the International Rescue Committee and aid future generations of refugees. |
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| - | Avoid an income tax that would otherwise be due. IRA assets are subject to unusually heavy taxation. If you name the IRC as beneficiary of your IRA upon your death, your estate and your heirs may avoid income tax, estate tax, and early withdrawal fees. Donating your IRA assets preserves 100% of the value of your IRA for refugee relief. In contrast, if you were to leave these assets to your family or friends, as much as 70% might ultimately be lost to estate taxes, income taxes, and early withdrawal fees if your beneficiaries are younger than 70 1/2 years of age.
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| - | Reduce your taxable estate. Naming the IRC as beneficiary after your lifetime allows the gift to avoid probate. Moreover, your estate is entitled to a charitable deduction for the amount of the gift.
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HOW TO GIVE RETIREMENT PLAN ASSETS TO THE IRC
| - | Designate the International Rescue Committee as beneficiary of all or part of a qualified retirement plan by completing the beneficiary designation form provided by your plan trustee or custodian. Please name the IRC as a beneficiary of a retirement plan through your designation form and not through your will, which may jeopardize tax benefits. |
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| - | Leave your retirement assets in a charitable remainder trust to provide income to a loved one for life or a term of years. After the term of the trust, the IRC would receive the principal. Income tax would be completely avoided on the transfer of the assets to the trust. Estate taxes would be completely avoided if your spouse is the beneficiary and reduced if others are beneficiaries. |
To request a personal conversation about planning your gift, please e-mail plannedgiving@theIRC.org or contact Nora Benoliel, Senior National Officer for Gift Planning at (212)551-3147 or Nora.Benoliel@theIRC.org. |
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