The Secure Act 2.0 and Charitable Giving

March 2023

Mr. Hiltwein

"Don't judge each day by the harvest you reap but by the seeds that you plant." - Robert Louis Stevenson

The Secure Act 2.0, which was passed into law this year, includes many wonderful opportunities to reduce your tax burden and save for retirement while also enabling you to make a significant impact on the students, faculty and programs at Kean University.

A Qualified Charitable Distribution (QCD) is an excellent way to show your support for the Kean University Foundation while receiving tax benefits in return. Donors may elect to make a QCD of up to $100,000 directly to the Foundation through a Charitable IRA Rollover.

The age at which required minimum distributions (RMDs) are required has changed from 72 to 73, however, you can still make a QCD beginning at age 70½. As you plan your RMDs this year, consider using your IRA account to make the most of your charitable giving. You will receive a tax benefit even if you take the standard deduction!

To Qualify: 

  • You must be 70½ or older at the time of gift.
  • Distributions must be made directly from a traditional IRA account by your IRA administrator to the Kean University Foundation.
  • Gifts must be outright, meaning they go directly to the Kean University Foundation. Distributions to donor-advised funds do not qualify.
  • Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA Qualified Charitable Distribution.

Tax Benefits:

  • IRA QCDs are excluded as gross income for federal income tax purposes on IRS Form 1040.
  • Your gift counts toward your RMD for the year in which you made the donation.
  • You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.
For more information, please contact Lori Funicello, CFRE, Director of Planned Giving, via phone at (908) 481-5336 or email at