Retirement Plan Giving

When planning for your future, you can also have an impact on the future of rehabilitation care.

Naming Spaulding as a beneficiary in your retirement plan is a great way to support our important mission of transforming rehabilitation medicine. IRAs, 401Ks, and other retirement plan assets can be valuable, tax-efficient vehicles for charitable giving.

Retirement plan assets often come with estate and income taxes that leave little left over for heirs. However, by designating Spaulding as a remainder beneficiary of your retirement account, you can support meaningful work while minimizing your family’s tax burden.

How to Contribute

Making a retirement gift plan to advance rehabilitation medicine is simple: Just add Spaulding to your “beneficiary designation” information on file with your retirement plan administrator at any time.

Are you age 70.5 or older?

If so, you can use your traditional or Roth IRA to make a gift now to Spaulding. In addition, certain individuals age 73 or older may have their gift count as part of their required minimum distribution.

There are two types of lifetime gifts you can make through your IRA:

• First, you can have up to a total of $100,000 transferred directly from your IRA to Spaulding each year, that in most cases is not reported as taxable income.

• Second (and new as of 2023), it is now possible to make a one-time gift of up to $50,000 to establish a charitable gift annuity, making fixed and guaranteed payments to you and/or your spouse for life.

In both cases, you would not be able to claim an income tax charitable deduction; however, you also would not have to report the distribution from your IRA as taxable income. Therefore, these “qualified charitable distributions” from your IRA can actually provide a tax “benefit” even for those who don’t otherwise itemize their deductions.

To learn more about these beneficial giving opportunities, please contact John MacRae, Senior Director of Principal and Major Gifts, at 617-306-2394 or jcmacrae@mgb.org.

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