Giving from Your 401k or IRA Retirement Plan
You've worked hard and planned for retirement. Now, with a little creativity, you can leverage your retirement assets to benefit you and your family, reduce federal taxes, and support Newark Beth Israel Medical Center far into the future.
How It Works
- Name or designate Newark Beth Israel Medical Center as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
- Pass the balance of your retirement assets to Newark Beth Israel Medical Center by contacting your plan administrator.
- Important! Tell Newark Beth Israel Medical Center about your gift. Your plan administrator is not obligated to notify us. So if you don't tell us, we may not know.
70 ½ or older? Make a “Tax-Free” Gift Through Your IRA
- Continue to take regular lifetime withdrawals.
- Maintain flexibility to change beneficiaries if your family's needs change during your lifetime.
- Your heirs avoid the potential double taxation on the assets left in your retirement account.