Retirement Plans

"Shippensburg changed my life," explains Shirley Sebright Byers-Gingrich '60 when asked about her motivation to include the SU Foundation as a beneficiary of her individual retirement account (IRA). "That and knowing that at my death, 35 percent or more of my retirement could be consumed by federal taxes. For me, it's a win-win. Not only am I able to make a gift to benefit my alma mater, I'm able to do so in a much larger way – the assets will be tax free.

Shirley considers herself blessed. She grew up in the small town of New Oxford where there were only twenty-four students in her high school class and only five who could afford college. After staying home for three years working and sharing family caregiving responsibilities, Shirley saved enough money to attend Shippensburg and pay for her first full year's education. After that year she had the opportunity to work with Dean Virginia Long and was introduced to Dr. Seavers who mentored her in the skills of socialization, listening, and speaking.

Shirley met her late husband, Ken, while at Shippensburg. Together they made many friends who remained close throughout the years. "Our relationships were like brothers and sisters, and although we all moved away for many years, most have found their way to the Chambersburg area. We all loved Shippensburg."

After graduating, Shirley taught in Schwenksville and Chambersburg for a few years. She and Ken then lived in Newnan, Georgia for thirty-two years when Ken was employed as an accountant with the James River Corporation. In Georgia, Shirley earned her master's degree from the University of West Georgia and taught first grade for twenty-two years. Recently remarried, Shirley and her husband, Richard H. Gingrich, reside in Chambersburg where they met.

"Because I was helped so much by so many and had so many wonderful opportunities while at Shippensburg, I want to experience the joy of giving by helping future students at Shippensburg, just as I was helped."

Did You Know...35 to 70 percent (in some circumstances up to 90 percent) of retirement assets can be eroded by federal taxes after the plan-owner's death?