You may wish to designate Parkway Alumni Association as the beneficiary on your retirement plan, life insurance policy or other asset. Beneficiary designations may be added on brokerage accounts and bank accounts.
Naming Parkway Alumni Association as a beneficiary on your IRA or other retirement plan provides you with added tax benefits. Normally, when money is distributed from a traditional IRA after the participant’s death, the recipient has to pay income taxes on the amount received. If, instead, you name Parkway Alumni Association as the beneficiary, there are no income taxes on the amount distributed.
Please contact Leah McCoy at (314) 415-8074 for more information about making the PAA your designated beneficiary.