S. 1772: Public Good IRA Rollover Act of 2013 – For real?

This is a bill not only to reinstate the IRA Rollover, which should happen sooner or later, but it also throws in direct IRA transfers to establish planned gifts like Charitable Remainder Trusts and Gift Annuities! For donors age 59 1/2 and older!

Here is a link to the bill, if you are interested:  https://www.govtrack.us/congress/bills/113/s1772/text.

No way this bill gets passed by 12/31/13 – but I am sure the Senators who proposed know that.

The big takeaway is that IRA transfers to fund life income gifts is back in discussion in Congress!  That is great news for planned giving.



  1. PGDC posted the proposed legislation last week, indicating that Senator Schumer had introduced the legislation. I have not seen any comments about the proposal until your note. It is interesting to see the reintroduction of the lower age for qualification and the allowance of transfers to CGAs, CRTs and PIFs. If at first you do not succeed… Under the tax neutrality rules, there needed to be corresponding tax savings introduced to offset any additional tax cost. Wonder from where the tax savings will be found??

  2. This is similar to legislation which has been presented, in both houses of Congress, over the past few years. As optimism is a primary job requirement, I’m hopeful that it will move forward in it’s present form, and not fall prey to “compromise” which has scaled it back to the 70 1/2, outright gift only, $100K max which we’ve been operating under.
    As to how we will “pay” for this continuation and expansion of the provision, how about the additional employment opportunities which would be a consequence of this legislation? I would look at this as a jobs bill for the not for profit industry, as the smarter institutions and organizations will ramp up their planned giving staff to accomodate the increasing number of split income gifts which would be an inevitable result of this law.

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