Thanks
to Arlington, Virgina "Tax Analysts - tax information
worldwide."
In
1998 Kaiser wrote to the IRS ((LTR
9810005)( https://kaiserpapers.com/LTR
9810005.html))to get special permission to hold the
Permanente benefit
package under the Kaiser non-taxed umbrella (501)(c)(3) to be released
to the Permanente physicians as they retired. Done in this
form,
Permanente would not be taxed as the money accrued.
This is called
a grantor
trust. This was a change from Permanente
simply billing for such payouts as they occurred. (It also
answers
my question of why Southern California Kaiser Permanente Group chose
partnership
rather than following the corporate approach of Northern California
(The
Permanente Medical Group or TPMG, Inc.)
On
the
other hand, this fund is not reachable by Kaiser
creditors.
"The point of LTR 9810005 was for the doctors to have the promises
funded,
have the funds beyond the reach of creditors, have the setting aside of
the funds to go untaxed, and have the investment go untaxed.
In short,
the doctors sought to obtain the benefits of a qualified retirement
plan
without the accompanying restrictions." (Page 1462 of Tax
Notes March
23, 1998 by tax expert and author - Lee A Sheppard).
The
doctors get a printout of their stake in this fund at regular
intervals.
The IRS allowed the exception but only on the marginal theory that the
public good might outweigh the private benefit.
The
Permanente physicians have an ENORMOUS reason to cut corners on
patient care at Kaiser. It is not only to have a good future
organization
with which to bargain but it is to realize their own accumulated work
product
from the past. Since the retirement package at Kaiser is very
generous,
it is like having 25% of your salary held back to make sure you play
the
game right until the day you retire. And since you have no
contract
at Kaiser, you serve to some extent on whim. In fact, they
have moved
away from the tenure approach of the past and run more on cooperative
whim
- a perfect way to herd cats.
This
better
explains to me how a certain Kaiser physician in Fresno
was able to accumulate $500,000 in value from Kaiser just four years
out
of training in New York. Deposing him on rapid net gain
income will
help, someday, to crack open this Death Star.
I'm
from
Chicago. As a city we took down the Chicago mob and Al
Capone through the IRS, not by catching each act of murder or deception
within the cult of silence. Kaiser is just another mob
racketeering
within, extorting from, and killing off the middle class and their
parents.
Dr. Chuck Phillips