Fair market value

Cool, that is indeed what you can walk away with, but that is not the value you use for purposes of determining RMDs.

The insurance company will calculate a fair market value or FMV of the annuity.

That will could be comparable to your contract value, but, but we'll be different.

We'll typically be different.

It could be way off, but let's assume the actuarial fair market value of your annuity at age 90 is $100,000.

they will publish that to you.

It may be shown on your last, you know, the last monthly statement, or they may send you a separate notice telling you the FMV of your annuity for the year, but they will give you a December 31st FMV.

So now when you go to calculate your RMD for the year, you still add up all of your other IRAs, your non-annuity IRAs, their December 31st values, You will add to that this custom fair market value provided to you for this annuity given to you by the carrier of that annuity.

In the compliance crypt, we will meet four compliance frights that can haunt healthcare organizations.

The ghost contract, the FMV phantom, the silent hotline, and the referral werewolf.

This is not intended to frighten anyone into inaction.

The point is the opposite.

The ghost contract thrives in silence, habit, and last-minute renewals.

The anecdote to the ghost contract is a disciplined contract management process.

Next in the compliance crypt, the FMV phantom.

So next we meet the FMV phantom.

Welcome.

Beyond the FMV Opinion: Where Physician Compensation Compliance Fails in Practice.

I'm joined here, I'm Eric Leafgreen, I'm joined with Alex.

Alex, can you provide us a nice, brief introduction since I know you so well? Share that with all the audience members out there today.

And as a brief introduction, I'm Eric Leafgreen, VP of Physician Compensation and Strategic Services at Ludi.

I'm a CPA and CPCV credential holder.

Previously, uh, worked at life as a CPA firm and valuation firms doing a lot of FMV opinions, corporate integrity work, and then led a physician compensation department in-house at a large national health system along with an international medical group grow-up.

And then lastly but not least, I have the honor of serving on the board with the AAPCP with Alex there.