Jack Pitzer: IRA Rollover Legacy Gift
During a span of more than 50 years, Jack Pitzer’s contributions to FFA have been extensive. Pitzer first became involved with FFA while still a young man in high school. In 1965 he began his career working on the National FFA Organization’s magazine. He served as a publication director, editor and leader of the FFA Convention’s popular Career Fair.
Pitzer has now strengthened his commitment to FFA’s future members with a legacy gift. As he explained, “The law allows you to take money from your IRA (that must be withdrawn anyway when you turn 70½ years old) and give it to a charitable organization without tax burdens. We contacted our financial advisor, and he made it happen.”
Regarding his gift, Pitzer said, “The thread of the past still lives in FFA members today.” He and his wife Pat wanted to support the National FFA Foundation “for generations to come.”
With a passion for FFA history, Pitzer also helped ensure the collection and cataloguing of FFA memorabilia when the National FFA Center in Virginia closed and moved to Indianapolis. In honor of his numerous accomplishments, Pitzer received the Lifetime Achievement Award in 2013 from AAEA (American Agricultural Editor’s Association).
Retired since 2009, he and Pat remain active in their local parish. The couple has three sons—Mike, Matt, and Mark. Pitzer is also a longstanding member of a barbershop quartet.
Pitzer noted that his IRA gift was stimulated by his involvement with the Individual Giving Council and by changes in the tax laws. He added, “Pat and I knew it was our time to give back.”
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.