Retirement Plan Gifts

The best way to make a gift of retirement plan assets is to name the School of Engineering as a primary or secondary beneficiary on your plan's beneficiary designation form. This can be an extremely tax-efficient method of making a gift, because retirement plan assets may be subject to both estate tax and income tax before an individual beneficiary (other than a spouse) can receive them after your death. The combined taxes may reduce the amount to the individual beneficiary by as much as 75 percent.