Beneficiary Designations

Make a Gift in a Few Easy Steps

Qualified retirement plan assets are popular planned gift vehicles due to the unique tax advantages they provide. Many appreciate the increased flexibility and ease a beneficiary designation provides by using: 

  • IRAs and retirement plans
  • Life insurance policies
  • Donor advised funds
  • Commercial annuities

It is very simple to name St. Olaf College as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider's website. Make your desired changes and return the form to establish your gift.

See How It Works

An Example of How It Works

Couples smiling Robert and Carol treasure the financial help they have been able to give their children and St. Olaf over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left St. Olaf a $75,000 IRA to be transferred following their lifetime. Because St. Olaf is tax-exempt, all $75,000 will help support our mission.

If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes — leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.

*Based on an assumption of a 24 percent marginal income tax bracket.

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Next Steps

  1. Contact the administrator of your retirement plan, insurance policy, or bank account for a change-of-beneficiary form, or simply download a form from your provider's website. 
  2. Decide what percentage (1 to 100) you would like St. Olaf College to receive and name us, along with the percentage you chose, on the beneficiary form. Return the completed form.
  3. Contact us at 800-776-6523 or plannedgiving@stolaf.edu to let us know your goals for the gift so we can ensure it is used as you intend.

Legal name: St. Olaf College
Address: 1520 St. Olaf Avenue
Northfield, MN 55057
Federal tax ID number: 41-0693979

Learn More

Download our FREE guide Beneficiary Designations: Easy Ways to Leave Your Legacy.

View My Guide
Personal Estate Planning Kit

Our Top Complimentary Resource

This comprehensive estate planning kit helps you protect your family and establish your legacy.

Download My Kit