Contributions to retirement plans can provide an excellent opportunity for growth as they are invested tax-free. The earnings are taxed when they are withdrawn, but this has allowed more dollars to be invested for more growth. Additional savings can occur if the recipient is in a lower tax bracket when the funds are withdrawn (for example, during retirement) than when the investments were growing.

However, careful planning concerning the withdrawals from retirement funds needs to be done. Not only is there a potential income tax burden, but if there is a balance in your retirement account at your death, there may be estate taxes as well. Estimates are that taxes could eat up as much as 70-75% of retirement assets under certain circumstances.

The Guest House at McLeod <info>

Using qualified retirement plan funds is an excellent source of assets to fund bequests. By designating McLeod Health Foundation as a beneficiary (it can be a contingent beneficiary after the death of a spouse - see sample bequest language) funds pass to McLeod Health Foundation free of taxes. It is possible to set up the beneficiary as the recipient of the entire remaining funds in the account or establish a percentage to fund the bequest.

Please note - the designation of any charity as a beneficiary of retirement fund assets cannot be simply written in your will or trust. The charity must be designated as a beneficiary of the retirement plan.

Everyone's personal circumstances are different, so please consult your tax advisor concerning the use of qualified retirement funds. We would be glad to make suggestions that could be effective in accomplishing you and your family's needs and benefit McLeod Health Foundation as well.

Cheney and Shirley Meiere

Legacy Society Charter member Mrs. Shirley Meiere offered remarks during the second annual Dr. F. H. McLeod Legacy Society Reception and Dinner held in January. Her remarks provided an understanding of how she and her husband, Cheney, are personally involved with furthering the vision of Dr. F. H. McLeod.

Cheney and Shirley Meiere

Mrs. Meiere's Remarks:
"The Meiere family arrived in Florence in July of 1977. We came here for one reason -- the new McLeod Regional Medical Center would be opening soon and physicians were needed. Dr. F. H. McLeod's dream for a multi-specialty community hospital that would serve all of the Pee Dee was a dynamic reality, and it was literally bursting at the seams on the corner of Dargan and Cheves.

"Two years later, my husband Dr. Cheney Meiere helped with the move to the current campus -- and we have witnessed remarkable growth since then.

"Through the years our lives have mingled and meshed with McLeod and the Florence community. As a result of this association, many wonderful opportunities have become available to us, including:

1. The opportunity for professional and personal growth.

"When we came to Florence, Cheney was a good physician -- fresh from residency. Over the years, working with numerous highly qualified healthcare providers, having access to the most advanced equipment, and caring for a diverse patient population, has allowed him to become an excellent physician.

"My work with the McLeod Foundation Board of Trustees has also opened many doors of service in the community for me and continues to fulfill me as a volunteer.

2. The opportunity to give.   

"A patient room in the McLeod Children's Hospital, the Secret Garden at the Guest House, Chapel furnishings and a stained glass window for the McLeod Hospice House --these named gifts we gave in memory or honor of Meiere family members. Our wishes for these gifts have been treated with dignity and respect. We give knowing that countless patients will benefit and our loved ones will be remembered.

3. The opportunity to be healed.

"Cheney and I have been blessed with good health, but from time to time we have needed the services of a great medical facility and McLeod Health has always met that need. From complicated surgical procedures to simple diagnostic tests, our collective experiences have been good. We have seen first hand McLeod personnel at every level, working to restore the health of patients.

"These opportunities are very important to us, and our dream is that they will continue. This is why the Dr. F. H. McLeod Legacy Society is so important to us -- giving to the Society ensures the vital mission of McLeod goes on well into the future. Giving to the Legacy Society means that your belief in supporting McLeod programs and projects has a voice even though your voice has been silenced. In the end, we are all here for one reason -- the Dr. F. H. McLeod Legacy Society needs us."   

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