Compliance June 27, 2012

Employers Hoping for Repeal of Health Reform Law

 

Six in ten employers surveyed are hoping for full repeal of the Patient Protection and Affordable Care Act (PPACA).


 

 

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Fifty-six percent disagree a complete repeal of the law would be a major setback for the country, according to results from Health Care Reform 360, a multi-wave, national study by Market Strategies International. “Three in ten (29%) employers believe the Supreme Court will repeal the law in full while one-quarter (25%) believe only portions of the law will be stricken,” said Susan McIntyre, senior vice president in the company’s Health Care division.  

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“While the majority of employers hope the law will be repealed, seven in ten (71%) feel there are some good parts of the law that should stay in place. The message from employers is that while they may not agree with the law as it is written today, there are elements that they believe should be retained,” she added.  

The study also found that six in ten (64%) companies across the country are waiting on the Supreme Court decision before making any major plans about how to respond to the law. Despite what the Supreme Court decides, an almost equal number of employers are waiting to make plans until after the 2012 fall elections.  

The Health Care Reform 360 study offers additional significant insight into employers’ plans for health care coverage as well as current levels of familiarity with the law, attitudes and concerns. Full results will be available in July.

 

Products June 27, 2012

PENSCO Offers Custodial Services for Alternatives

PENSCO launched PENSCO SuccessorCustodian.

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SuccessorCustodian enables institutions to easily transfer or remediate entire classes of alternative assets to PENSCO, which specializes in holding and administering complex alternative assets in tax-advantaged retirement accounts. The solution simplifies the remediation process through streamlined workflow and electronic document processing.   

The company says state and federal regulators are directing wirehouses and broker/dealers to find independent, successor custodians for tens of billions of dollars of alternative investments in client retirement accounts. Regulators want financial institutions to designate independent custodians to hold those client accounts to ensure that alternative assets in IRAs and other tax-qualified plans remain in tax and regulatory compliance.   

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“PENSCO SuccessorCustodian offers institutions and financial advisers a streamlined and orderly process for transferring a large volume of alternative assets to PENSCO while retaining control of the client relationship,” said PENSCO Chief Executive Kelly Rodriques. “PENSCO SuccessorCustodian is an institutional-quality solution that lowers compliance risk, reduces account administration costs, and demonstrates progress in remediating alternative assets.”   

For more information about PENSCO SuccessorCustodian, contact Tom Steinberger, 415.395.5797, tom.steinberger@pensco.com.

 

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