IRA Rollover Gifts
The Pension Protection Act of 2006
Changes Rules Regarding IRA Rollover Gifts
This recently enacted law allows donors to make a gift directly from an IRA to Springfield College without having to take a taxable distribution. Here are some technicalities:
- The donor must be at least 70 1/2 years of age.
- Transfer must be made directly from the IRA to Springfield College.
- The gift must be outright.
- The maximum gift is $100,000 and must be made prior to December 31, 2007.
- The gift applies toward minimum distribution requirements.
This legislation offers a great opportunity to make a gift to Springfield College that will help ensure our continued success in our mission to educate students in spirit, mind, and body for leadership in service to humanity.
For more information please contact Al Carrano, Director of Gift Planning at 800.622.6072.
Additional Information
Campaign Profiles: Art Farnham, Jr. '54
"If you attended Springfield College, and took advantage of everything they offered, and built a life from it, when you are done enjoying the benefits of all that, they deserve to get something back," says Art Farnham, Jr. '54. "It's only right. They were very, very good to me, and I know they will take this gift and turn it into something that is good for many others. Giving something back. It's just the right thing for people like us to do."
Art Farnham is giving back through his membership in The Amici Society which recognizes donors who have included Springfield College in their financial and estate plans. Learn more about Art and his support of Springfield College.