Giving

Retirement Accounts

You may consider making a future contribution to benefit the University naming the Missouri Southern Foundation as beneficiary of any assets remaining in an Individual Retirement Account (IRA) or Keogh plan. Assets remaining in a qualified retirement plan after death may be subject to income tax as well as estate tax. Therefore making a gift of your retirement plan assets may provide a tax savings for your heirs. It is a simple matter for the donor to name the Foundation as the beneficiary of the fund. The account manager can provide you the necessary forms to designate the Foundation as a beneficiary.

Donors should always contact the Foundation if they are considering giving a gift through a retirement plan. The donor may wish to restrict how the funds are used by designating certain departments or programs as recipients of the gift. A Foundation representative can work with the donor to ensure the gift is used as the donor wishes. Because you retain possession of the assets and all income during your lifetime there is no income tax deduction, however the assets will pass outside probate avoiding any estate tax.

There are many examples of how a retirement account can be used to fund a gift to benefit MSSU. In all cases, donors should consult their attorney, accountant, or estate planner when considering gift giving.

©