Retirement Plan Assets

Retirement accounts include IRAs (Individual Retirement Accounts), 401(k) plasn, Keogh plans, and other qualified retirement savings plans.   

 

Retirement Plan Assets

Including Amherst College as a beneficiary of your retirement plan is a simple and tax-efficient way to create a legacy at the College.

One of the easiest ways to provide for the future of Amherst College is by naming the college as a beneficiary of your retirement plan. Add the College directly to the form that you get from your retirement plan administrator, and you'll be supporting future generations of Amherst students. These forms are often available on your retirement plan's website. Amherst can be the sole beneficiary, one of several beneficiaries, or a contingent beneficiary.

Because Amherst is a tax-exempt institution, retirement plan assets directed to the College are not taxed, and the amount Amherst receives is more than would otherwise go to your heirs. Before the funds remaining in your retirement plan go to your heirs, income tax (and estate tax if any is due) is paid on the assets.

lRAs and account holders age 70 1/2 and older

IRA account holders age 70½ and older can transfer up to $100,000 a year from their IRAs directly to qualified charities without federal income tax on the distribution.

Gifts must be made directly from your IRA account to the qualified charity(ies). Please contact your IRA plan administrator for instructions.

More information about outright gifts to Amherst College from IRAs

 

Contact Gift Planning

Janet Howard, Gift Planning Coordinator
Amherst College
PO Box 5000
Amherst, MA 01002-5000
413-542-2721

Information contained in this website should not be considered legal, accounting, or other professional advice. Individuals considering a planned gift to Amherst should consult with their financial advisor.