Putting Her Retirement Savings to Work

After three decades working as a psychiatrist, Irene Kitzman enjoys spending her semi-retirement behind a telescope, gazing into distant stars and galaxies from her home in Arizona.

Her passion for astronomy, combined with a love for Israel, has inspired Irene to support Technion research that aims to provide humanity with even deeper glimpses into the cosmos. By leveraging her Individual Retirement Account (IRA), she is funding this research now while making provisions for further support after her lifetime — and, in the process, sparing her retirement savings from taxation.

"Since I'm fortunate not to require my IRA for personal use, I choose to direct these funds to a cause close to my heart. I love knowing that every penny is supporting research that will empower humanity to delve further into the universe."

Her gifts are advancing the work of Technion Professor Ehud Behar, who investigates some of the most violent events in the universe such as black holes, galactic winds, novae, supernovae, and gamma-ray bursts.

Professor Behar is leading the development of GALI, a gamma-ray burst localizing instrument that features an innovative method for localizing gamma-ray bursts, which originate when stars explode. Very different from traditional detectors, GALI employs hundreds of small sensors, arranged in a random 3D array, and promises to be more precise in its directional capabilities than earlier, much larger detectors launched by NASA and ESA.

Irene is advancing this research through annual distributions from her IRA, a strategy that enables her to sidestep the taxes that would otherwise diminish her savings. Like all individuals with an IRA who are 73 or older, she is required to withdraw a certain amount from the fund each year, known as a Required Minimum Distribution. If she used the funds as personal income, they would be subject to income taxes. By using the funds instead to support ATS, through what is known as a Qualified Charitable Distribution, she avoids incurring income tax on this IRA distribution each year.

Thanks to her estate plans, Irene's retirement savings will further advance Technion astronomy research after her lifetime. The balance of her IRA will benefit the Technion at 100 cents on the dollar and create the Irene Kitzman Endowed Fellowship Fund in Astrophysics & Cosmology, supporting graduate students in the field.

"I love knowing that the full value of my IRA gift will go to work for the Technion after my lifetime. To play even a small part in helping to expand our knowledge of the universe is a real honor and privilege."