Steve Hauser

As an electronics technician at the University of Iowa Department of Physics and Astronomy, Steve Hauser (70BA) feels grateful to have worked alongside individuals who were making extraordinary discoveries and supporting numerous space missions.

“I was fortunate to be on a team for nearly 30 years with so many bright people who loved what they were doing and did it so well,” says Hauser, who was trained for his career through his three years of service in the U.S. Navy. “So many people I worked with—James Van Allen (36MS, 39PhD), Don Gurnett (62BSEE, 63MS, 65PhD), Robert Mutel, and others—were at the top of their professions.”

After retiring in 2004 and continuing to enjoy Iowa City’s live music and arts scene, Hauser started to run into some number-crunching decisions when he needed to take his required minimum distribution (RMD) from an employer-sponsored retirement account.

“When I turned 70.5 and started having to take an RMD, it was killing me,” says Hauser. “I ended up with a rather large tax bill each year. I could start spending down some of the principal of my investments, but I didn’t really want to do that.”

Hauser realized that he could benefit from a charitable income tax deduction, and a charitable gift annuity (CGA) proved to be a great option for him. He’s able to support causes that are important to him, receive fixed payments for his lifetime, and gain a variety of tax benefits—including an income tax deduction in each year he establishes a CGA.

CGAs have proven to be a more popular way to give, as payout rates have increased twice in the past year. The income that annuitants, like Hauser, receive from CGAs is partially tax free and guaranteed to never decrease. It’s also a great way to give back, as Hauser will use his charitable gift annuities and a bequest in his estate plans to create a scholarship supporting underserved and underrepresented students.

“I want the scholarship recipients to be successful and hopefully give back as well,” says Hauser. “What I hope to convey to the recipients is that this is more than just improving the life of the individual who receives the award. I hope that the recipient will continue to give back to others from similar backgrounds or circumstances.”

Hauser is also supporting the University of Iowa School of Music and the University of Iowa Stanley Museum of Art through his bequest—all in an effort to leave the world in a better place.

“You want your ripple effect to be positive, and I’m hoping my contributions help continue to do good,” says Hauser.