Giving from Your 401k or IRA Retirement Plan
You can still do God's work long after retirement.
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 the Church and its ministries far into the future.
How It Works
- Name or designate parish, school, Diocese or outreach program in East Tennessee as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
- Pass the balance of your retirement assets to the Church and its ministries by contacting your plan administrator.
- Important! Tell the Church and its ministries 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.