Make the Most of Your RMD
March 27, 2024
Maximize your RMD’s impact through charitable donations or life insurance.
Time to take out your Required Minimum Distribution (RMD)? Did you know you can use your RMD to purchase financial products that can help to secure the future for you, your loved ones or a charitable organization that you care about? Talk to your agent today to discuss some options that may be right for you or request an appointment with an agent near you at gbu.org.
Purchase a whole life policy for your grandchildren
Start your grandchildren on the road to financial success with a GBU membership. GBU's Youth 3 Pay Life insurance is permanent life insurance that offers a lifetime of coverage for just three annual payments.
Your child or grandchild becomes a GBU member and remains a member as long as the policy is active. GBU members have access to special members-only discounts, events and contests as well as education, volunteer, scholarship and grant opportunities.
- Cash Value Growth. Youth 3 Pay Life insurance accumulates cash value that can be borrowed against, with interest
to help your child or grandchild secure education loans, make mortgage down payments or weather emergency
situations.
- Dividends. Youth 3 Pay Life insurance is expected to earn dividends that can be used to purchase additional paid-up
coverage, held with interest or paid out in cash.
- Competitively Priced Coverage. Policy face values range from $5,000 to $50,000 for youth of current ages 0–17.
Policy rates are based on age, gender and amount of coverage requested. Policy is paid in full in three annual
payments.
Make a donation to the GBU Foundation
Your qualified charitable distributions can satisfy all or part of the amount of your RMD from your IRA. For example, if your 2023 RMD was $10,000, and you made a $5,000 qualified charitable distribution for 2023, you would have had to withdraw another $5,000 to satisfy your 2023 RMD.
HOW IT WORKS
- You can make a tax-deductible donation of all or part of your RMD to the GBU Foundation.
- Send the donation to 4254 Saw Mill Run Blvd., Pittsburgh, PA 15227-3394 in the form of a check made out to
the GBU Foundation.
- We will send you back an acknowledgement letter of the amount donated.
- Let your tax preparer know that you made the donation. It will need to be reported on your 1099-R form, 1040 form
and form 8608 with your 2023 taxes.
For more information on how to satisfy your RMD with a charitable donation, consult your tax preparer or CPA.Tax info is provided by H2R CPA. H2R CPA is a full-service accounting and business advisory firm celebrating over 60 years serving closely held businesses, nonprofit organizations and High Net Worth individuals. The team specializes in comprehensive tax, assurance and business consulting services. GBU Life does not provide tax advice. You should consult with a legal or tax professional for any such matters.
GBU Life is the marketing name for GBU Financial Life. Life insurance underwritten and annuities offered by GBU Financial Life (GBU), 4254 Saw Mill Run Blvd., Pittsburgh, PA 15227.
Dividends are not guaranteed. A parent or legal guardian must sign the application. If the policy is to be owned by someone other than the parent or legal guardian, the parent or legal guardian must also sign the application. Riders are optional and have additional fees associated with them. Product not available in all states. Please see policy and rider coverage for complete details.
Contract Form Series: ICC19-Y3Pay, FL20-Y3Pay.
GBU-RMD-0324
As we move into the second quarter of another exciting year, I want to take a moment to reflect on our accomplishments and share some of the new initiatives we are implementing in the realms of sales, marketing and community engagement. Over the past year, GBU Life has reached significant milestones thanks to the dedication and hard work of our team and the trust and support of our members. Our sales department has exceeded targets, and we have expanded our reach to more communities than ever before. We have launched several successful marketing campaigns that have not only increased our visibility but have also strengthened our brand's presence in the industry. For this year, our focus will be educating potential new members on the importance of securing their financial futures through life insurance and annuity products while serving their communities as part of our great Society. Looking ahead, we are committed to enhancing our sales strategies to better serve you. We are introducing some tools for our agents to enhance our products. One new tool is our Defined Benefit Annuity program which combines the Future Flex Fixed Index Annuity (FIA) with a software tool that can help determine retirement savings needs and break them down into contributions over time to help you meet your retirement goals. Be sure to keep in touch with your GBU agent to review your plans and products to see how adding an FIA to your retirement planning can help boost your savings efforts
GBU members between the ages of three and nine years old can enter their colored page in this year's contest, which is themed Pawprints on My Heart. Three age categories will be judged as follows: Category I: Ages three and four Category II: Ages five and six Category III: Ages seven, eight and nine Entrants may use crayons, colored pencils, markers or watercolor paints. Entries will be accepted through Monday, August 18, 2025, at 11:59 p.m. EST. The picture on the next page can be reproduced, or copies can be obtained by calling the Community Engagement Team at the GBU Home Office (800-765-4428) or by printing the image above. Cash Prizes for Each Category First prize: $75 Second prize: $50 Third prize: $30 How to Enter Send the three- to nine-year-old GBU member's coloring contest entry with their name and address on the colored page to: GBU Life ATTN: Member Benefits 4254 Saw Mill Run Boulevard Pittsburgh, PA 15227-3394. Or email contest@gbu.org with "Coloring Contest Entry” as the subject line. General Information Judges reserve the right to accept or reject any or all entries. Their decisions will be final. Artwork will be handled at the GBU Home Office with the utmost care. GBU reserves the right to reproduce entries for whatever use it wishes, provided proper credit is given. Permission does not include the sale of such work.
GBU has designated four Community Pillars - Wellness, Education, Charitable Giving and Hometown Hero Support - which are a concentrated list of causes that resonate with our values.
Looking for new spots to explore this winter? Check out these three must-visit places for your next adventure.
Details and deadlines surrounding the GBU Foundation scholarship and grants for 2025.
Looking to try some new recipes this winter?
We've found some tips to keep up your sleeve this winter.
The Defined Benefit Annuity from GBU Life can help you to create a plan for a guaranteed income in retirement by making regular contributions based on your retirement income targets.
Graduating from college is an exciting milestone, but it’s also the perfect time to focus on your financial future. Building on the foundation you’ve already laid the groundwork for with smart money choices will set you up for long-term success. Here are a few key financial products to consider as you take the next step.
Kick-start your child’s journey to financial success with a whole life policy from GBU Life.