Gift Planning
Planned Giving
Find out what types of assets make the best planned gifts. Learn about gifts of cash, securities and property.
Bob and Mary Are Giving Smarter and Achieving Their Dreams...Find Out How You Can Too!
Bob and Mary first met at Two-Bit Flicks, a 25-cent movie night held on Fridays in Brighton Lecture Hall. When the spring formal hosted by the women's dorm came around, Mary asked Bob to go with her. It was their first "official" date.
The rest, as the saying goes, is history. Or in Bob and Mary's case, it is natural history. That's because Emporia State also introduced them to a lifelong passion for the natural sciences.
Bob and Mary feel Emporia State was the catalyst for the life they've built together. Mary became a science educator for 6th, 7th, 8th and 9th grade students. Bob founded and served as director of the Great Plains Nature Center and became a renowned nature photographer.
Now they want others to have the same opportunity they did. They want to help students come to ESU and discover a passion they can follow for the rest of their lives.
Bob and Mary found a simple and easy way to achieve this dream. When they set up their trust, they named Emporia State as a beneficiary.
What's your dream?
Learn how easy it is to make your dream a reality by naming Emporia State University in your will or trust. Contact Angela Fullen, Director of Planned Giving at the Emporia State University Foundation. She can answer your questions or help you get started. If you have already named Emporia State in your will or trust, let us know. We will make sure your gift does everything you want it to do.
"I would encourage anyone, if they are thinking about doing something like this, to contact the Foundation. For us, it has been a great experience." - Mary Butel
Getting Started is Easy
Not sure how to take the first step? We've got just the thing you need. Download your free Will and Estate Planning Guide. This guide is an easy way to get started on, or update, your estate plan. It will help you explore your options at your own pace. It's free, easy and yours to keep.
Download your copy today or contact Angela Fullen to request a printed copy.
Angela Fullen
Director of Planned Giving
Telephone: 620-341-6465
[email protected]
Washington News
IRA Required Minimum Distribution Deadline
Generally, owners of IRAs or other retirement plans must take a required minimum distribution after they reach age 72. The first RMD may be delayed until April 1 of the year after reaching age 72. If the first distribution is delayed, two distributions will be required in that next year. There is an exception for active workers who are not major owners of a business. These individuals may delay their RMDs until retirement. With a traditional IRA or similar retirement plan, the full RMD is taxable income.
- Individual Retirement Arrangements (IRAs) — Even if the account owner is still working, a traditional IRA, SEP, SARSEP or SIMPLE IRA account holder must begin taking distributions by age 72. If the account holder reached age 72 in 2022, he or she may elect to delay the first RMD until April 1, 2023, but would be required to take a second RMD by December 31, 2023.
- Retirement Plans — Employees who benefit from a 401(k), 403(b) or 457(a) plan are also required to take their first RMD at age 72. The exception is an active worker who is not a 5% owner of the business. Individuals in this category may delay RMDs until retirement.
- RMD Calculations — The IRA trustee or a plan administrator is required to report the amount of the RMD to each IRA owner. IRA owners will calculate RMDs with the IRS Uniform Table unless there is a spouse more than 10 years younger. An IRA owner may calculate an RMD for each separate IRA and withdraw the total amount from one of the IRAs, if multiple IRA accounts are owned. However, if an employee has both an IRA and a workplace retirement plan, the distributions must be calculated and taken separately. A failure to take the RMD could subject the employee to a 50% excise tax on the amount on the undistributed amount.
- Inherited IRAs — There are two categories for inherited IRAs. A spouse may roll over an IRA into his or her plan and commence distributions at age 72. Under IRS proposed regulations, a non-spouse must start taking distributions from the inherited IRA. Publication 559, Survivors, Executors and Administrators includes guidance on the withdrawal schedule for a non-spouse who inherits an IRA. Most non-spouse IRA beneficiaries must take the taxable distributions within ten years. Some beneficiaries with a disability or chronic illness may still take distributions over their life expectancy.
Published December 16, 2022
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