You name Wentworth Institute of Technology as the beneficiary of your IRA, 401(k), 403(b), or other qualified retirement plan.
	The remaining balance in your plan passes to Wentworth at your death.

For many people, the best method of giving – which offers significant tax advantages – is through a retirement plan. Retirement plans (e.g. a pension, 401(k), IRA, 403(b), or Keogh) are often subject to extremely high tax rates, often ranging from 50%-60%.

If you are planning to leave bequests to both heirs and Wentworth, you may save taxes if you give other property to your heirs and name Wentworth as the beneficiary of all (or a portion of) your retirement plan assets. When you die, the assets will be paid directly to Wentworth and will not flow through your probated estate. The assets will be subject to neither an estate tax nor a federal income tax, and consequently the entire balance will be preserved for the causes at Wentworth that you value. 

Retirement plan gifts can often be effectively accomplished through your will or bequest by establishing a Charitable Remainder Trust, which allows you to transfer retirement plan assets to a Trust that will pay your loved one(s) an income for life, or for a set number of years.

Benefits

• During your lifetime, you may continue to withdraw funds from your retirement plan.
   
• By leaving it to charity, your heirs avoid both the income and the estate tax that is collected on the balance left in your retirement plan after your death.
   
  
• You may choose to leave retirement plan assets to Wentworth through your will or bequest. This costs you nothing now, but benefits the Institute later.
   
• You will have made a significant gift to Wentworth.
   
• You will become a member of Wentworth's Giving Society.

Please note that information and calculations are for illustration purposes only and should not be considered legal, accounting, or other professional advice. Your actual benefits may vary depending on the timing of the gift.