|IRS Gives Everyone
Largest Tax Cut in History
By Bill Sheets
On January 12, 2001,
the IRS issued new rules governing distributions from qualified pension
plans (IRAs, Keoghs, SEPs, 401(k)s, 403(b)s, etc.), making
many simplifications and allowing greater flexibility for minimum distributions.
Several of these changes could affect people who have already passed the
age 70½ milestone.
These changes, the first significant ones since 1987, provide opportunities
to set up stretch IRAs and allow for charitable beneficiaries
that enable estates to save tens of thousands of dollars and more in federal
estate, state inheritance, federal income, and state income taxes.
If you would like to know more about how these changes affect you or your
planned gift, please contact the Development Office staff.
Gifts and Pledges as of March 1, 2001
of Kentucky Campaign Goal:
Percentage of Goal: 62.76%
of Agriculture Goal:
Percentage of Goal: 64.75
The Agricultural Engineering
Building has been renamed the Charles E. Barnhart Building, in honor of
the former College of Agriculture Dean. The University of Kentucky Board
of Trustees approved the change at its March meeting.
In the recommendation to the trustees, Barnharts tenure as Dean
and Director of the Agricultural Experiment Station and Cooperative Extension
Service, 1969-1988, is cited as being one of tremendous growth and development
for the College and its programs. In addition, Barnhart inspired
people across Kentucky to view the College as theirs, to freely give their
time and resources, and to send their college-bound students to the University.
Barnharts service and leadership spanned forty years in the College,
beginning in 1948 when he was hired as an instructor in animal husbandry.
Prior to becoming Dean, he was the Associate Dean for Research and Associate
Director of the Ag Experiment Station.