Retirement Plans

Overview

Enjoy Ease and Flexibility

Giving through your retirement plan is an excellent way to support the University. The assets you designate will be eliminated from your taxable estate at your death, and retirement assets will also pass free of income tax. You can adjust your designation at any time.

Designating the University as a beneficiary of your retirement plan:

  • Ensures that the University school, program, or foundation receives the full value of your gift.
  • Removes assets from your estate, reducing estate tax.
  • May allow you to distribute a greater portion of your estate to your heirs.
  • May be easily changed as your plans change.

How do I include the University in my retirement plan?

  1. Contact the Office of Gift Planning to discuss your plans and obtain the proper designate language.
  2. Request a beneficiary form from your retirement plan administrator.
  3. Identify the University of Virginia as a percentage beneficiary of your plan.
  4. Include the University of Virginia’s Federal Tax ID Number 54-6001796 on your beneficiary form.
  5. Return the completed form to your retirement plan administrator.
  6. Provide a copy of your completed beneficiary form to the Office of Gift Planning.

Donor Story

The University of Virginia does not provide legal, tax, or financial advice. We strongly recommend that you consult professional advisors on all legal, tax, or financial matters, including gift planning considerations. To ensure compliance with certain IRS requirements, we disclose to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.