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Most retirement plans are tax-deferred, meaning that you do not pay income tax on the assets in a retirement plan until they are distributed to you. Because any retirement assets that are unused during your lifetime may be subject to both income and estate taxes, these may be among the costliest assets to distribute to loved ones through your estate.
But a retirement asset can make an ideal gift to a tax-exempt charitable organization.Your estate may receive valuable tax savings. In addition, unlike an individual beneficiary, a tax-exempt non-profit like Florida PIRG Education Fund, a project of United States Public Interest Research Group Education Fund, will not be subject to income tax on the value of the account. Consequently, leaving retirement account funds to a nonprofit can maximize the final value of your gift.
Naming or changing your beneficiary is simple. After checking with your advisors, ask the administrator of your retirement plan for a beneficiary designation form, fill it out, and return it to the administrator.
To find out more, including our tax identification number and other resources regarding planned giving, please email our Planned Giving Coordinator using the form below, or call 1-800-841-7299. Donations to Florida PIRG Education Fund, a project of United States Public Interest Research Group Education Fund, are tax-deductible in many circumstances. Please seek the guidance of your attorney or financial advisor when making changes to your estate plan.
Your tax-deductible donation supports Florida PIRG Education Fund’s work to educate consumers on the issues that matter, and the powerful interests that are blocking progress.
You can also support Florida PIRG Education Fund’s work through bequests, contributions from life insurance or retirement plans, securities contributions and vehicle donations.