--- title: "Retirement | Sutter Health" description: "An easy way to make a legacy gift is simply to designate the foundation as a beneficiary of your retirement plan." url: "https://www.sutterhealth.org/giving/planned-giving/retirement" --- 1. [Home](https://www.sutterhealth.org/) / 2. [Giving](https://www.sutterhealth.org/giving) / 3. [Planned giving](https://www.sutterhealth.org/giving/planned-giving) / 4. Retirement # Retirement accounts and plans  **Section menu** - [Retirement](https://www.sutterhealth.org/giving/planned-giving/retirement "Retirement") - [Retirement](https://www.sutterhealth.org/giving/planned-giving/retirement "Retirement") ## Beneficiary designation An easy way to make a legacy gift is simply to designate the foundation as a beneficiary of your retirement plan. Funds in your retirement plan have never been subject to income-tax. So your heirs will have to pay income-tax on the proceeds. But gifts to charitable organizations are income-tax free. Use retirement funds to make your charitable gifts and use other assets for your heirs. Administrators of retirement plans use a standard form to change your beneficiary. This is true for an IRA, 401(k), or 403(b) plan. Please contact your bank, broker, or plan administrator to obtain the right form. If you have an employer sponsored retirement plan, please contact your Human Resources Department for the proper form. With a gift from your retirement plan you can: - Save taxes - Maintain control and flexibility - Create a permanent endowment - Honor someone with a memorial gift - Receive naming recognition for your gift - Support your favorite program or service ## IRA charitable distribution If you have an IRA, you may be able to continue supporting the programs that mean the most to you, while avoiding taxes on the annual Required Minimum Distribution (RMD). The IRS allows you give up to $105,000 annually from your IRA to the charities of your choice and have that gift (called a qualified charitable distribution) also count as your RMD. This is a way of satisfying the RMD requirement while avoiding taxes on the withdrawal and donating the entire tax-free transfer amount to the programs you have chosen. Points to consider: - Changes to tax law mean fewer taxpayers will be able to itemize charitable deductions. - The tax-free transfer from your IRA must come directly from the IRA custodian to the charity, not to you and then to the charity. - You must be age 70 1/2 or older before the date of the transfer. Other retirement accounts, such as a 401(k), are not eligible (although Roth IRAs may be). - You will want to start the process well before the end of the year to avoid steep penalties for failing to meet your RMD by December 31. - Let us know about the donation through your IRA to ensure your gift is acknowledged as an IRA qualified charitable distribution, and to ensure your gift is allocated to your chosen program. - You can have your account administrator mail a check to: Sutter Health Philanthropy - Attention Gift Processing, P.O. Box 160045, Sacramento, CA 95816. - To make a wire transfer, please contact a Sutter Health Planned Giving officer from the list below. Charitable IRA rollover frequently asked questions  **What is the minimum age for making a charitable IRA rollover gift?** You must turn 70-1/2 prior to completing the distribution. **I have heard about "Qualified Charitable Distributions (QCD)". Is this the same thing as a Charitable IRA Rollover?** Yes. A QCD is the language used in the tax code, but they are more often referred to as Charitable IRA Rollovers. **Is there a tax deduction for making a Charitable IRA Rollover?** IRA rollover gifts are not deductible — but the money is never included in your income in the first place, which for many people is more favorable than a deduction. **I have a Roth IRA. Can I use it for a Charitable IRA Rollover?** Roth IRAs are eligible for rollover treatment; however, you may wish to discuss with your financial advisor whether this is the best way for you to give. **I don't have an IRA. Can I make a Charitable IRA Rollover from another retirement account?** No, transfers must come directly from an IRA or Roth IRA. However, if you have retirement assets in a 401(k), 403(b), etc., you may be able to roll those funds into an IRA, then use the IRA for giving. Please discuss this with your financial advisor. **What is the minimum gift size? And is there a maximum gift size?** The minimum gift size depends on the policies of your IRA custodian. The maximum distribution permitted by the IRS is $105,000, per account holder (i.e., per spouse), per year. **Are there restrictions on the Charitable IRA Rollover?** A rollover cannot be used to make gifts when the donor receives a benefit in return (i.e., to attend a dinner). **How do I initiate a Charitable IRA Rollover?** In most cases, you should start by contacting your IRA custodian. If you have an IRA with check-writing features, please be aware that your check must be made out to your local Sutter Foundation and must clear your account by December 31 to count toward your RMD. **When should I initiate a request for distribution?** You may request a distribution at any time during the year. If you intend that your distribution count toward your RMD, please begin your transfer by early December to allow ample time for your transfer to be completed. **Are there special forms I need to use?** Your IRA custodian may have its own form to request the transfer; if not, we have enclosed a sample instruction letter for your custodian. **Can my IRA gift satisfy a pledge or create an endowment?** Yes! Payment schedules of various lengths may be established by the donor with a maximum duration of five years. **What type of acknowledgment should I expect?** We will send you a written acknowledgement of your gift to thank you and to confirm the amount of your gift and its intended purpose. Because there is no income tax deduction, you will not receive a conventional receipt. **How do I know if a Charitable IRA Rollover is right for me?**  If you are over age 70-1/2 and have an IRA, the rollover might be right for you if: - You do not itemize deductions - You don't need your required minimum distribution (RMD) - Your RMD causes more of your Social Security income to be taxed - You are making charitable contributions at your deduction limit, but want to do more \*FAQ SOURCE: NATIONAL ASSN OF CHARITABLE GIFT PLANNERS WEBSITE. 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