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Life Insurance, IRAs, Rollovers

Giving Through Retirement Plans

  • Making the UUA a beneficiary of your qualified retirement plans is a smart gift.
  • Qualified plans: IRA, 401(k), Keogh, and the UUA’s Pension Plan.
  • Assets left in IRAs at death are included in your gross estate and subject to federal income tax.
  • But any remaining IRA funds designated for charity are not taxed.

Roll Overs

  • While you may transfer or "roll over" IRA funds from one IRA to another, if you use tax-deferred assets to make a charitable gift, you must pay any income tax due on the withdrawal.
  • Congress may change these tax rules in future legislation.

Life Insurance Gifts

  • Any life insurance policy that you own at death is included in your gross taxable estate.
  • If you have a policy you no longer need, change the ownership and benefits to your congregation or the UUA.
  • After you die, Unitarian Universalism receives a wonderful gift.
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