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  • Third-Party

Planned Giving Design Center: IRAs and Qualified Retirement Plans

Qualified retirement plans and individual retirement accounts are trusts or custodial accounts that hold a person's tax deferred retirement assets. Their principal tax advantage is income tax deferral. They include IRC Sec. 401(a) Qualified Retirement Plans (profit sharing, ESOP, 401(K) and "Keogh" plans); Sec. 408 (IRAs, SEPs and SIMPLE Plans) and Sec. 403(b) (tax sheltered annuities and custodial accounts). This memorandum discusses the income and estate tax economics of lifetime and testamentary charitable and noncharitable transfers of retirement plan assets, along with guidelines planners should consider in structuring such transfers.

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