>> mac election VOTING INFORMATION Balloting for the election of five (5) members to serve the regular term of three (3) years on the Board of Governors will be open from 8 a.m., Monday, May 4 until Thursday, May 7 at 6:30 p.m. You may cast your vote electronically by logging into the MAC website any time after 8:00 a.m. on Monday, May 4, 2020. If you wish to cast a paper ballot, you may request a mail-in Absentee Ballot, which must be received in the Downtown Clubhouse no later than 5:00 p.m. on May 7th. Only Resident, Fellowship, Emeritus and Associate members in good standing and not in arrears are permitted to vote. Absentee ballot votes and paper ballot votes must be cast on the Official Ballot. No ballot will be counted that is marked with more or less than five names. The five candidates receiving the most votes will be elected. Don’t forget to sign the yellow card if you are voting with a paper ballot. Election winners will be announced via livestream from the Missouri Room at 7 p.m.
MAC FOUNDATIONS’ CORNER
Leaving a Legacy
No RMDs Required for 2020! Coronavirus Legislation Provides Relief AFTER
If you are 70½ years of age or older, you probably know that the IRS mandates annual Required Minimum Distributions (RMD) from your tax-deferred accounts, such as IRAs, 401(k)s and 403(b)s. However, thanks to the new CARES Act, RMDs are waived for 2020. This waiver allows you to keep your money invested rather than having to receive a distribution while the value of your investments is low (because of the recent downturn in the market) and pay taxes on the amount distributed to you. Even though RMDs are waived for 2020, you can still get a tax break on giving to a 501(c)(3) entity such as one of the MAC’s three foundations. If you are at least 70½ years of age, you can obtain this tax break by making a Qualified Charitable Distribution (QCD) from one of your tax-deferred accounts. The funds can be directly transferred from your IRA, 401(k), or 403(b) to an MAC foundation and excluded from your taxable income, resulting in tax savings.
For more detailed information and assistance, contact: Larry Absheer, Director of Advancement 314-604-3890 or 314-539-4477 F labsheer@mac-stl.org 4 F Cherry Diamond F MAY 2020
