Naming the Saginaw Community Foundation as a beneficiary of your retirement plan is easy to do and helps you make a significant and lasting gift that may not be possible during your lifetime.

Retirement assets are often subject to both income and estate taxes, but the value of assets can sometimes be reduced by up to 75% through charitable giving. 

If you are concerned with potentially high estate taxes, the charitable beneficiary designation is a good choice because the benefit payment is generally excluded from your estate for tax purposes. And, because you may change the beneficiary designation at any time, your decision is revocable.

In order to designate the Saginaw Community Foundation as a full or partial beneficiary of your qualified retirement plan,  you will need to fill out a form supplied by the policy underwriter or plan administrator.

When you are no longer living, the benefit comes to the Saginaw Community Foundation. Your gift of assets will become a permanent source of community capital, helping to do good work forever.

The foundation creates your personal legacy of giving by establishing a special fund. The fund can be set up in your name, in the name of your family, or in honor of any person or organization you choose. You also may choose to give to an existing fund.

Your fund will be endowed at the Saginaw Community Foundation. Earnings gained through investments will be used to make grants that address needs in Saginaw County. If you prefer, grants can be made anonymously.

For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact Saginaw Community Foundation at (989) 755-0545 or via email.