Gifts of Retirement Assets
(Complete gift description)

Did you know that your retirement plan assets will be taxed heavily when you die?

When you plan your estate, it may seem natural to designate a family member as the successor beneficiary of your retirement plan, and use other assets to make a charitable gift. But using retirement assets to make your donation and leaving other assets to your heirs often enables you to give more to your heirs.

Since we are a non-profit organization, we won't pay income tax on the distribution (nor will the gift be subject to estate tax). The entire amount comes to us, and your heirs will benefit from a reduced estate tax burden.

Planning points

• You may make Pomona College a partial beneficiary of your plan and direct the balance to your heirs. At your death, the plan administrator will withdraw our share, providing an immediate gift to Pomona College and leaving the balance to benefit your family.
• Be sure to direct the gift to Pomona College your plan's beneficiary designation form — rather than through your will. If you fail to do so, the assets will be included in your taxable estate.
• Don't use the balance in your retirement account to satisfy a specific dollar-amount bequest already in your will. Your estate will be treated as having received taxable income in the amount of the bequest paid by the retirement plan assets.

Can I use retirement assets to fund a charitable life income arrangement?

Yes, you can. Talk to your financial advisors and us first to project whether your heirs would benefit more from income from a gift plan or withdrawals from your retirement account. A lifetime withdrawal from your plan raises additional tax considerations.

How do I make a gift of my retirement account assets?

Notify your plan administrator of your wish to change the beneficiary. First, get the advice of your plan administrator and an attorney. Call us to ensure that your plans are fulfilled.

For more information

Email us, complete the personal illustration form, or call us at (909) 621-8143 or (800) 761-9899 so that we can assist you through every step of the process.

Pomona College
Trusts and Estates
550 North College Ave
Alexander Hall 235
Claremont, CA 91711
(909) 621-8143 or (800) 761-9899
Fax: (909) 621-8654
pomonaplan@pomona.edu