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Retirement Plans

Did you know that you can use your retirement plan as a gift to Florida Conference? It’s fairly straightforward and doesn’t incur tax liabilities for your gift. Here are three suggestions on how you can make a retirement plan gift.

Beneficiary Naming

By naming Florida Conference as the beneficiary of your retirement plan, you will be able to avoid estate taxes as well as income taxes on the assets being contributed.

Retirement Accounts Gifts Given Today

Providing you are over age 59½ and your funds are in a traditional retirement account, you may wish to withdraw your charitable gifts from that account. The withdrawal would be considered income; but you would have a corresponding tax deduction for the gift, generally not resulting in any tax liability.

Rollover Your IRA for Good

By taking a distribution from your IRA this year, you will likely pay more taxes and may even reach a higher tax bracket. Rolling over part of you  IRA's "required minimum distribution" or "RMD" to support the Lord's work can help reduce your tax bill while fullfilling the great commission.

If you are 70 1/2 or older and don't need your RMD, you can make a gift up to $100,000 this year from your IRA to help further the mission. Contact your IRA administrator to get started with your gift. While you will not recieve an income tax deduction, you will not pay taxes on any distributions made directly to the Florida Conference from your IRA custodian. Please inform us of your plans so that we use your gift for the ministry that means the most to you. 

To explore the benefits of a specific gift, please contact our Planned Giving Specialist at 407-644-5000 x2242 and request that your tax preparer reviews your individual situation.