Retirement Plans

Many retirees receive significant income from retirement plans such as 401(k) plans, 403(b) plans and IRAs. These retirement plans are often exposed to income taxes and estate taxes, in some cases, retirement plans may be severely taxed if the residual of the estate passes to a relative or other individual.

To preserve your retirement assets after your lifetime, consider using your retirement plan assets for charitable giving. Your account can pass directly to a charitable organization as your primary beneficiary, or it can be transferred to a deferred giving arrangement that will pay an income for life to a family member, after which the remaining assets pass to the organization. Your estate will receive a charitable deduction for the full value of the assets left to the AMS

To designate the AMS as a beneficiary, see your Human Resource Department or your retirement plan administrator. They will provide you with the proper forms. A will does not enable you to change retirement plan beneficiaries. Naming the AMS as a beneficiary of your retirement plan is an easy way to make a gift, it allows you to reduce estate taxes and it enables you to reach your philanthropic goals.

Since each person's circumstances in planned giving is different, we recommend you consult your financial or tax advisor for guidance and information and then contact the Development Office.

Planned Giving Methods: Wills & Trusts · Life Insurance · Retirement Plans