We are excited to join with our planned giving partner:
The Roman Catholic Foundation of Eastern Missouri
How Can You Make a Generous Planned Gift; Save Future Taxes and Maintain your Current Living Standard?
Name St. Pius X High School as your Retirement Plan Beneficiary!
Many people want to ensure their support of St. Pius X High School continues after their lifetime. They not only believe in the cause but want to ensure future generations are able to enjoy the same benefits and support that they enjoy today. Their concern is that they do not have the capacity to contribute a large amount of money now.
If you are one of those generous souls, we have a solution for you!
Most everyone has either a 401 (k) plan or a Rollover IRA. Both of these retirement vehicles are “pre-tax” dollars. This means that when the funds are removed from the account, you are taxed on the withdrawal as earned income.
This same tax law applies to the funds if you pass away and your family or friends are named as beneficiaries of the account. Although they may have some ways to stretch out the receipt of the funds, and thus reduce the tax bill in any given year, they will ultimately pay tax on these pre-tax funds.
Many people have come to understand the power their charitable gift can have if it is done through the use of retirement funds. Rather than naming individuals as the beneficiaries on all or a portion of these plans, name the Roman Catholic Foundation of Eastern Missouri for the benefit of St. Pius X High School. Then, instead of naming us in your will or trust, leave those assets to your individual beneficiaries. This will save your individual beneficiaries from paying taxes on most, if not all of your holdings, and will allow St. Pius X High School to benefit from 100% of the gift since we are a tax-exempt entity.
Jim Lehn, President
(636) 931-7488, ext.141