Retirement Plan Assets
A future gift to the Michigan Tech Fund with tax savings for your heirs
After providing for yourself and your family, a gift to the Michigan Tech Fund of retirement plan assets can be a very tax-effective way to support Michigan Tech. You can designate that the Fund receives any remaining assets of your IRA, Keogh, TIAA-CREF, or other qualified pension or profit-sharing plan. By doing so, you maintain complete access to the assets during your lifetime, and any gifts that later come to the Fund can be deducted from your taxable estate, possibly saving your heirs from significant estate and income taxes.
Your pension plan administrator or financial institution can provide you with the necessary form to designate the Michigan Tech Fund as successor beneficiary. If you are considering a gift of retirement assets, please contact the Fund so we may discuss with you the eventual use of your gift and describe the special tax savings for you and your family.
Benefits of gifts of retirement plan assets
- Can reduce estate tax and potential income tax to heirs
- No negative impact on your current assets
- Gifts can be designated for the Michigan Tech program or purpose of your choice
McNair Society
The McNair Society recognizes those who have left a legacy for Michigan Tech by providing specific bequests or planned gifts through their estates. This giving society is named for Fred McNair, Michigan Tech's president from 1899-1924. Through McNair's vision and commitment to leave a legacy for future Michigan Tech students, the fledgling college grew and prospered during his presidency.
If you would like more information about the McNair Society or are considering including the Michigan Tech Fund in your estate plans, please contact Eric Halonen (ehalonen@mtu.edu), (906) 487-3325. If you have already included the Michigan Tech Fund in your plans and would like to be recognized, please let us know. We would be pleased to honor you as a member of the McNair Society. Please contact Eric Halonen or fill out the McNair Society Declaration of Intent form here on our website and return it to the Michigan Tech Fund (address) to Mr. Halonen's attention.
View the McNair Society Declaration of Intent Form