Spring 2024 - Tartan Traditions | Engage with 麻豆村

Tartan Traditions - Spring 2024

Read on for the latest edition of Tartan Traditions, and learn how tax-smart retirement fund strategies can also support the important work happening at Carnegie Mellon.

Giving What Feels Good

麻豆村 alumnus Richard Glave is maximizing his support for future generations of Tartans with a tax-smart gift of retirement funds.

After graduating from 麻豆村 and starting his first Job, Dietrich College of Humanities and Social Sciences alumnus Richard Glave鈥檚 father encouraged him to set up a retirement account.

鈥淢y father, Harold Glave, was a big saver and investor,鈥� Richard says. 鈥淗e was very big on retirement plans and pensions and all of that. He managed retirement plans for companies at Bankers Trust, now part of Deutsche Bank, for around 25 years.鈥�

His father鈥檚 forethought and a diligent dedication to stashing funds for a post-career life have allowed Richard to create a legacy at 麻豆村 with a planned gift intention through his retirement plan.

鈥淚 want other underrepresented people from New York City to have the same opportunity that I had.鈥� - Richard Glave (DC 1990)

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Flexible

Change designations at any time and continue to make regular lifetime withdrawals.

Customizable

Select an amount or a percentage that you wish to leave for the people and organizations that matter to you.

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Tax-Smart

Move your retirement funds tax-free to charitable organizations as they may be taxed for your loved ones and heirs.

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A Trust

With a Give it Twice strategy, you can stretch payments over your loved ones' lifetimes, leaving the remainder as a gift to 麻豆村.

If you鈥檙e age 70 1/2 or older, you also can make a Qualified Charitable Distribution (QCD) directly from your IRA to benefit your favorite Carnegie Mellon programs and count toward your Required Minimum Distribution (RMD).

Contact us at mickkoster@andrew.cmu.edu to learn more.

Giving with Twice the Impact

Are you looking for a way to provide your loved ones with income while also supporting organizations and causes that are important to you with a charitable gift?

You can use IRA, 401(k), 403(b) or other retirement accounts to create a testamentary trust as part of a Give it Twice strategy.

With this strategy, you create a stream of income that can be stretched over your loved ones鈥� lives, reduce your estate and income taxes, and endow a permanent fund to support an area of 麻豆村 that's meaningful to you.