Retirement Assets

Throughout life, many Americans steadily tuck away funds in a retirement plan. As you age, though, you may find you don’t need that money to cover living expenses. When this happens, those funds can still serve a crucial purpose. Gifting a portion of your retirement funds is an easy and tax-savvy way to bolster medical education and fuel research at IU School of Medicine.

Gifts made in life

If you are older than age 70½, there’s a tool that enables you to help IU School of Medicine and receive tax benefits — an IRA charitable rollover. Donate any amount up to $100,000 annually directly from your IRA and enjoy these benefits:

Your gift can be used today for the cause most important to you
You can use an IRA rollover each year, using those gifts to fulfill a multi-year pledge
Your donation counts toward the required minimum distribution
The contribution is not counted as income, reducing your annual taxable income level
The lower adjusted gross income figure after the gift can result in lower Medicare premiums and reduce the amount of Social Security taxed

Contact Us

Gift-planning experts in the Office of Gift Development can help donors explore options for establishing a planned gift to benefit IU School of Medicine and are available to work with financial and estate planning advisors to best accomplish giving goals.

Email Tim W. Ueber

Gifts made upon death

Retirement accounts secure long-term financial security, but they can be a tricky asset to pass on to the people closest to you. The value of the funds in an account — an IRA, a 401(k), or 403(b) — factors into calculations for estate taxes and can total up to 40% on high-worth estates.

Pre-tax accounts also come with a hefty income tax burden. You deferred taxes on the money contributed, but the individual who inherits it is required to pay. Depending on their tax bracket, up to 40% of the funds could be turned over the federal government.

The solution? Donate pre-tax retirement funds to IU School of Medicine. Just list “Indiana University Foundation for the benefit of IU School of Medicine” as the sole beneficiary of the fund.

One Donor's Story

Over 17 years, Dr. Gordon Coppoc served as program director at IU School of Medicine—West Lafayette. When plans were drawn up for a new facility, Dr. Coppoc and his wife, Harriet, used an IRA rollover to help fund its construction.