Retirement Plan Assets

Pass It On

Think About Donating Retirement Assets

Retirement assets offer a meaningful way to support Central Connecticut State University. Not only do they advance our mission, but they can also ease the tax burden on your loved ones.

Funds in retirement accounts, such as an IRA, 401(k), or tax-deferred annuity, haven’t yet been taxed. When these assets are passed on to individuals, the recipient will owe federal income tax on the distribution.

To lessen the tax impact on your heirs, consider leaving them assets with lower tax liability and designating your retirement assets to Central Connecticut State University. As a tax-exempt nonprofit, we can receive the full value of your contribution.

Here are a few ways to make this type of gift:

Name Us as a Beneficiary – link title to this url

Update your beneficiary designation form through your retirement plan provider to name Central Connecticut State University as a full or partial primary beneficiary. You can also list us as a contingent beneficiary, meaning we would receive the remainder if your primary beneficiary is no longer living.

Designating a Beneficiary

Make an IRA Charitable Rollover - link title to this url

If you're 70½ or older, you can contribute directly from your IRA, up to $108,000 annually, to a qualified nonprofit like ours. This gift counts toward your required minimum distribution and avoids income tax.

IRA Charitable Rollovers Information

Use a Donor Advised Fund – link title to this url

Inherited retirement assets are taxed as ordinary income, which can significantly reduce their value. Instead, consider naming your donor advised fund as the beneficiary of all or part of your retirement plan. This allows the full gift amount to be used without tax deductions and supports the causes you care about.

More Info About Donor Advised Funds