Retirement
Plans
Cheryl Grandfield '73 and Richard Dodd
(From the Fall 2004 Manley Society Newsletter)
You might not think that Cheryl Grandfield
'73 is old enough to plan for charity through her estate,
but making a statement about philanthropic priorities knows
no age limits. St. Lawrence is important to Cheryl, and
naming her alma mater as a beneficiary of her retirement
plan is a way to capstone her volunteerism and annual
giving to St. Lawrence, and to set an example for others.
Her husband, Richard, is the primary beneficiary but ultimately
the balance goes to St. Lawrence. “At this point
in my career, this is a perfect way to meet two goals,
planning for my spouse and my alma mater,” says Cheryl. “I
feel secure that Richard will be able to access the plan
if something happens to me, and I'm delighted that my support
of a liberal arts education will continue after me. It
cost nothing to name St. Lawrence as a beneficiary on my
plan, and there's a bonus. Retirement plan assets are expensive
to inherit. The recipient must pay income tax on the payments,
but if the assets go to charity, there's no tax, so St.
Lawrence receives all of my gift.”
We are all philanthropists. How effective
is your philanthropy? Making the most of our giving and
volunteering is worth some reflection. Order
our Philanthropic Planner to better define
your philanthropy, craft your own mission statement, and
create your own philanthropic plan.
