Instructions for naming the UI Foundation as beneficiary of qualified retirement plan assets
- Contact your plan administrator, to see if they will allow charitable beneficiary designations.
- Inform them that you wish to update your beneficiary information to include a nonprofit organization as a beneficiary of your retirement plan. Ask them to send you the required forms.
- Once you receive the forms, complete them as indicated in the instructions or in consultation with one of the plan's representatives. When designating the University of Iowa as a beneficiary of your assets, you will want to use the full legal description of The University of Iowa Foundation as follows:
"The State University of Iowa Foundation, an Iowa nonprofit corporation of Iowa City, Iowa" - You may also need to include the UI Foundation's Taxpayer ID number:
42-0796760 - Indicate the percentage of assets to be gifted to the State University of Iowa Foundation. Allocations of exact dollar amounts are not recommended by most plans due to the change in market value of your account assets Make sure you contact your plan administrator with any questions about allocations.
- Return the designation of beneficiary forms to your plan administrator.
- Send one copy of the completed designation of beneficiary forms to The University of Iowa Foundation to inform us of your future gift and to assure that the eventual proceeds are used according to your wishes.
The University of Iowa Foundation
P.O. Box 4550
Iowa City, IA 52244 - If you have a specific direction for your designation within the University, such as scholarships, faculty support, or support of a particular program, contact us so we can work with you on drafting a Statement of Gift Intent. This document will reflect exactly how your gift will eventually be used. Our goal is to make sure your UI legacy is established the way you want it to be.
- We always recommend you work with your own professional advisors before you finalize your gift plans.
