A Future Gift to Michigan Tech
And Tax Savings for Your Heirs
After providing for yourself and your family, a gift of retirement plan assets can be a very tax-effective way to support Michigan Tech. You can designate for the Michigan Tech Fund to receive any remaining assets of your IRA, Keogh, TIAA-CREF, or other qualified pension or profit-sharing plan. By doing so, you maintain complete access to the assets during your lifetime, and any gifts that later come to Michigan Tech can be deducted from your taxable estate, possibly saving your heirs from significant estate and income taxes.
Your pension plan administrator or financial institution can provide you with the necessary form to designate the Michigan Tech Fund as successor beneficiary.
Contact the Office of Gift Planning for more information.
Benefits of Gifts of Retirement Plan Assets
- Can reduce estate tax and potential income tax to heirs
- No negative impact on your current assets
- Gifts can be designated for the Michigan Tech program of your choice.