Jump-Start Your Legacy with a New Tax-Saving Opportunity

If you are 70½ or older, recent legislation benefits YOU!

If you are aged 70½ or older, you can now make a gift to a qualified charitable organization, such as Hospital for Special Surgery, using funds transferred from your individual retirement account without paying taxes on your distributions. Your gift can be accomplished simply and will result in your ability to maximize the benefit of your IRA dollars.

The benefits of the Pension Protection Act of 2006:

• The charitable distribution counts toward minimum required distributions.
• The transfer generates neither taxable income nor a tax deduction, so even those who do not itemize their tax returns receive the benefit.
• You may take advantage of this opportunity from now until Dec. 31, 2009.
• You may transfer up to $100,000 per year directly from your IRA.

How the Legislation Works
Pat, aged 80, has $450,000 in an IRA and made a pledge to give Hospital for Special Surgery $50,000 this year. If Pat transfers $50,000 from the IRA directly to us to satisfy the pledge, she will avoid paying income tax on $50,000, but will not be able to use it as a charitable deduction.

Please contact Rachel Cameau, Director, Annual Giving and Associate Director, Planned Giving, with any questions you may have. She can be reached at 212.606.1196. As always, we encourage you to seek professional advice when making financial decisions.