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Retirement Plan

IRA Rollover

This past December, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015, extending the IRA Charitable Rollover permanently. This unique way of giving allows friends of The Chester County Hospital Foundation who are 70 or older to directly transfer or "rollover" up to $100,000 directly from their IRA accounts to The Chester County Hospital Foundation, without having to declare the funds as taxable income. These funds can then be used to support the program or area you have designated.

Gifts of IRAs and Retirement Plan Assets as Beneficiary

You can designate The Chester County Hospital Foundation as a beneficiary of your IRA or retirement plan.

Distributions from retirement plans at the death the account-holder can be subject to both estate and income taxes. In a large estate, these taxes can equal up to 70% of the remaining amount in the account. By naming The Chester County Hospital Foundation as the beneficiary of the remainder of your retirement plan, 100% of the plan's balance will be contributed to support Chester County Hospital and will make a direct and significant impact to the patients we serve.

In order to take advantage of this type of gift, you must notify your plan administrator and fill out a simple "change of beneficiary" form.

The material presented in this website is not offered as legal or tax advice. We urge you to seek the advice of your tax advisor, attorney and/or financial planner to make certain a contemplated gift fits well into your overall circumstances and planning.

For more information, please contact Colleen Becht-Foltz, Director of Development, at Colleen.Becht-Foltz@uphs.upenn.edu or by calling 610-431-5697.

Last Updated: 7/27/2016