Gifts of Retirement Plans
Planned gifts can help you
realize significant income and
tax-savings benefits, as well as
enhance the mental health and
intellectual development of people in our community.
When you participate in a retirement plan, you set aside money to use
later. If you die before you receive any lifetime payments, the accumulated
funds go to the beneficiary or beneficiaries that you’ve named.
If you die after your retirement benefits have begun, the remainder
in your fund is paid to your beneficiaries. It’s also possible to donate
all or part of your retirement plan to MHMR Visions. If you are
considering this, here are some points to keep in mind.
You may name MHMR Visions as first, second or last beneficiary for
part or all of the remainder. (You may name MHMR Visions as
beneficiary at any time.)
Retirement plans offer important tax advantages to participants.
- Contributions can be deductible for federal income tax purposes,
by the employer, the participant or both.
- Earnings from investments accumulate and income tax is
deferred until retirement payments begin.
TYPES OF RETIREMENT PLANS
There are four basic types of retirement plans:
- Qualified pension and profit-sharing plans
- 401(k) Plans
- Keough Plans
- Individual retirement accounts (IRAs)
Become a part of the Visions Legacy Society today. Find our bequest notification form here