Retirement Plans

Gifts from your Retirement Plan

Consider the possibilities of how gifts from your retirement plan can provide support for ministry. 

The Protecting Americans from Tax Hikes (PATH) Act of 2015 was passed with bipartisan support by Congress and signed into law by President Obama on December 18, 2015.  This law makes the Charitable IRA Rollover a permanent option for donors beginning retroactively for 2015.  Each IRA owner over 70 1/2 may make a transfer of up to $100,000 per year to a qualified charity (such as the United Methodist Foundation of West Virginia, Inc.).  The transfer is a non-taxable event; it is not reported as income, and there is no charitable contribution deduction.  A charitable IRA Rollover may fulfil part or all of your required minimum distribution (RMD).

If you would like to consider the possibilities of a Charitable IRA Roller, contact your IRA Administrator and The Foundation.

Beneficiary Designations

Remember, as you complete your estate plans, to examine the beneficiary designations on your retirement accounts. Consider naming The Foundation as the beneficiary of all or a portion of the residual of your retirement plan. If you are contemplating a bequest gift from your estate, there may be benefits to your family if you make the gift through your retirement plan rather than through your Will.

Contact us via email at info@umfwv.org or call toll free 1-800-788-3746 ext. 45 to consider the possibilities of planned giving through your Retirement Plan.

The Foundation does not give legal advice or tax advice. Always consult with your own advisors before deciding which gift works best for your circumstances.