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Gifts From Your Retirement Plan
How It Works
- Name the WVU Foundation as a beneficiary of your IRA, 401(k) or other qualified plan.
- Designate the WVU Foundation to receive all or a portion of the balance of your plan through your plan administrator.
- The balance in your plan benefits WVU after your passing based on an agreement made with the Foundation.
Benefits
- Avoid the possible double taxation (estate and income taxes) your retirement savings would incur if you designated your heir(s) as beneficiary(ies).
- Continue to take regular lifetime withdrawals.
- You can revoke us as a beneficiary if your family's needs change.
Tommy Stuchell '87 – "No matter where life takes me, I'll always be a Mountaineer. After I'm gone, a portion of my IRA balance will help future engineers and remember my dad at the same time."
 Please contact us so that we can assist you through every step of the process.
 Questions and Answers
 How do I arrange a gift from my retirement plan?
Simply contact your IRA or retirement plan administrator and request a copy of the Change of Beneficiary Form. You can fill this in as you wish and include the WVU Foundation for a portion or all of the remainder of your plan’s assets.
What are the tax implications of a gift of retirement plan assets?
For gifts at death, any portion of your retirement plan assets that are given to a qualified charity will also qualify for income tax, inheritance tax, federal and state estate tax deductions as applicable to the size of your estate and your state of domicile. Any assets coming out of your plan to your heirs may be subject to all of those taxes.
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