Retirement Assets

Retiring with a Purpose

How gifts of retirement savings can help future generations of children at CHOP

Mother hugging daughter You’ve worked hard and planned for your future by saving for retirement. But have you thought about what will give your retirement meaning and purpose? By leaving a gift of retirement savings to Children’s Hospital of Philadelphia (CHOP), you can ensure a lasting legacy for generations of children.

Tax-smart way to leave a gift

Leaving a gift of retirement assets to a charity like CHOP is a tax-wise way to give. Retirement plan assets, if transferred to someone other than a spouse, are among the most heavily taxed of all assets. Since CHOP is tax-exempt, 100 percent of your gift goes to help the children we serve. That’s why many people choose to donate retirement assets to charity and leave other less tax-burdened assets to their heirs. Just look at this example:

Retirement Gift Left to Heirs Left to CHOP
Gift Amount $100,000 $100,000
Income Tax* -$37,000 -$0
(tax exempt)
Net to Beneficiary $63,000 $100,000

* Based on maximum federal income tax rate of 37%.

Get it done in 4 easy steps

  1. Check your retirement account statement for the phone number and website of your plan administrator. Request or download a beneficiary designation form.
  2. Designate CHOP as sole, partial or contingent (if one or all of your primary beneficiaries predecease you) beneficiary.
  3. Sign and return the form to your plan administrator, and keep a copy for your files.
  4. Notify us so we can thank you.

Additional benefits to you

In addition to being a tax-wise way to create a legacy that will benefit children for years to come, leaving a gift of your retirement assets to CHOP costs you nothing now. You can change your beneficiaries at any time — you are not locked into a decision you make today. And there is no minimum contribution. Every gift makes a difference for the children we serve.

We're here to help

Many people like to leave a gift to charity by beneficiary designation or in their will or trust. We are grateful you are considering such a gift to CHOP. It’s a wonderful way to ensure your values live on for future generations. To notify us of a gift you have left to CHOP or to discuss the best gift option for you, please contact Lizabeth Macoretta, Director of Planned Giving, at 267-426-6472 or macorettaL@email.chop.edu.

Reminder: CHOP's Tax ID # is 23-2237932.

 

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