Retirement Plan Gifts

Making a gift to the Metropolitan Opera from retirement plans can offer unique planning opportunities right now and in your estate plan.

Gifts from IRAs to the end of 2009

The federal IRA Charitable Rollover law has recently been extended to the end of 2009. This means you can move up to $100,000 per year from your traditional or Roth IRA directly to the Metropolitan Opera without paying income taxes on the money. However, there are specific legal requirements that must be met.  

Retirement Plan Gifts in Your Estate Plans

More than any other asset in your estate, qualified retirement plans of many types (IRAs, KEOGHs, 401Ks, etc.) may be the best source of funding a tax-wise gift to the Metropolitan Opera. Your heirs could incur two separate taxes, estate and income, should you leave those assets to them. Because the Met's charitable tax status exempts it from taxes, it might be more advantageous to leave the retirement plans to the Met and leave other assets to your heirs.