Beneficiary Designation

A beneficiary designation is one of the easiest ways to make a gift to Caltech. You can use retirement accounts, life insurance, or bank, credit union, or brokerage accounts. You also can specify the individuals and charities you want to support and the percent of assets you would like each to receive.

It’s as easy as filling out a form yet your support of world-changing science will last for generations.

Support Caltech through Your Retirement Accounts

Without making changes to your will or living trust, you can name Caltech as a beneficiary of retirement assets such as IRA, 401(k), or 403(b) funds by completing a beneficiary designation form. Designating retirement assets to Caltech is also one of the most tax-wise ways to make a gift. The assets in these accounts, if left to individuals other than a spouse, are subject to income and estate taxes. When you give to a nonprofit such as Caltech, 100 percent of the funds are available for charitable purposes. It is often better to leave other types of assets—cash, securities, real estate—to your heirs and give the heavily taxed retirement assets to Caltech.

Support Caltech through Your Life Insurance

Fully paid-up life insurance policies also can be used to make a gift to Caltech. You can specify whether Caltech receives all or a portion of the death benefit by using a beneficiary designation form. Alternatively, you can transfer ownership of the policy to Caltech, which results in income-tax savings for you the year the gift is transferred.
Support Caltech through Your Bank, Credit Union, and Brokerage Accounts Everyday accounts—such as certificates of deposit and checking and savings accounts—can be given to Caltech. At your financial institution, request a payable-on-death form on which you can identify your preferred beneficiaries. Additionally, you can designate a beneficiary on stocks, bonds, and mutual funds in your brokerage accounts by completing a transfer-on-death form.

Six Easy Steps to Naming Caltech as a Beneficiary

1. Ask your bank teller, insurance agent, or plan administrator for a form to designate beneficiaries. Or log in to your online account and find the form.

2. Write “California Institute of Technology” into one of the name blanks on the form.

3. Include Caltech’s address, which is 1200 E. California Blvd., Pasadena, CA  91125.

4. You may have an option to add Caltech’s tax ID number, which is 95-1643307.

5. If you are naming multiple beneficiaries, specify the percent each one will receive.

6. Sit back for a moment to think about how you have helped promising scholars, and how they might change the world for the better.