Gifts of Retirement Assets
Sam Bergami Jr. '85 EMBA and Lois Bergami
We are so grateful to the University and do everything we can to make this a stronger institution. By donating my 401K retirement account to the University, we are investing in the potential and promise of future generations of students. What better investment could there be?
Sam Bergami Jr. '85 EMBA
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to the University.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our educational mission.
Benefits of gifts of retirement assets
- Avoid potential estate tax on retirement assets
- Save your individual heirs income tax that they would owe on inherited retirement assets that were funded on a pre-tax basis
- Receive potential estate tax savings from an estate tax deduction
How to make a gift of retirement assets
To leave your retirement assets to the University of New Haven, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate the University of New Haven as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
More on gifts of retirement assets
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? As an alternative, consider leaving your heirs assets that receive a step up in basis, such as real estate and stock, and giving a portion of your retirement assets to the University of New Haven. As a charity, we are not taxed when receiving an IRA or other retirement plan assets.
If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.
Please let us know if you have already included the University of New Haven as a beneficiary of your retirement assets. We would like to thank you and recognize you for your gift.