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Retirement Plan
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Retirement Plan

A gift of your retirement plan, whether IRA, 401(k) or 403(b), can be given by naming SBL as successor beneficiary of all or a portion of your retirement account. This option eliminates tax fees on your estate and heirs as a result of the distribution of assets. You may also contribute a distribution of your retirement asset at any time, though this option is considered taxable income. Retirement plan gift options include:

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  • Name the Society of Biblical Literature the beneficiary of your retirement asset through your designated beneficiary form (generally can be obtained from your employer or plan administrator)

  • Obtain a distribution from your retirement asset, account for any taxes associated and contribute the amount received to SBL.

  • Designating retirement assets to surviving family members can be subject to both income and estate tax. However, directing the balance of a retirement plan to charity removes the most taxed asset from the donor’s estate, freeing up other, more favorably taxed assets to give to family and heirs.

 

 
 
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