Gifts of Retirement Plan Assets

Designating AJC as a charitable beneficiary of your retirement plan assets is easy and tax efficient.

Retirement-plan benefits refer to assets in individual retirement accounts (IRAs), 401(k), 403(b) or other qualified retirement plans. 

Naming AJC as a Beneficiary of my Retirement Plan

When you name AJC as a beneficiary of your retirement plan, the assets pass to AJC free of income or estate tax. This allows you to use your retirement assets to satisfy your charitable gifts, while leaving other non-retirement assets, which are not as heavily taxed, to your family.

Please note that you will need the following information for a beneficiary designation of the remainder (or portion thereof) of a retirement account:

Beneficiary: American Jewish Committee (AJC),
165 East 56 Street, New York, NY 10022
AJC's Federal Tax Identification Number: 13-5563393

How to Name AJC as a Beneficiary of your Retirement Plan:

• Contact your plan administrator or sponsor to request a change-of-beneficiary form. 
• You may designate AJC as a beneficiary of a specific sum of money, a percentage of the remainder or the entire remainder of your retirement-plan assets.
• Check with your retirement plan administrator/sponsor and/or financial institution to determine: 1) if you are married, whether or not your spouse must consent to the designation and 2) if your plan has any restrictions on designating charities as beneficiaries for retirement accounts.
• Make sure that the individuals responsible for handling your financial affairs also receive a copy of the beneficiary designation, or know where to find it when necessary.

Using Qualified Retirement Assets for Life Income Plans

You can use qualified retirement plan asset to fund a Charitable Gift Annuity or Charitable Remainder Trust. 

Beneficiary Designations

Many assets can be transferred outside of a will or trust through a beneficiary designation.

Beneficiary designations adding AJC as a beneficiary of all or a portion of the remaining assets can me made for the following:

• Retirement Accounts
• Life Insurance Policies
• Bank and Brokerage Accounts
• Commercial Annuities
• Donor Advised Funds

You can name AJC as a recipient of a percentage or a specific amount of these accounts.

Please reach out to the administrator or company that holds the asset and check with your professional advisors about any tax implications of these designations. Forms may be available on line and there are no fees involved in completing the forms.

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