Retirement Gifts

Leaving UMass Lowell as the beneficiary of your retirement plan is a great way to make a gift. Retirement plans that remain in your estate are often subject to both estate and income taxes when left to your heirs. In large estates the effective tax rate on a retirement plan may exceed 70 percent, leaving little for your heirs.

Designating UMass Lowell as the beneficiary of your IRA, Keogh, tax-sheltered annuity, or qualified pension or profit-sharing allows the assets to pass directly to UMass Lowell at your death without subjecting it to any income or estate taxes.

If you wish to make this type of gift, ask your plan administrator for a change of beneficiary form and use the following language:

UMass Foundation for the benefit of UMass Lowell (you may also include a specific purpose such as a scholarship, or specific college or program). 

For more information, please contact Carolyn Flynn, Director of Gift Planning, at (877) 775-1992 or ogp@uml.edu.