Buy Ins VERIFIED
SMART/Track for Buy-ins is a Web-based system that enables automated communication and tracking of NSCC CNS and non-CNS (e.g., NYSE, AMEX, NASD and NSCC Non-CNS) buy-in notices as well as Municipal Securities Rulemaking Board (MSRB) closeouts. Through the system, participants can easily create, send, process and track a notices throughout its lifecycle.
buy ins
Participants receiving a non-CNS buy-in notice or MSRB closeout can either accept or reject the notice. If rejecting, the participant must enter a reason for the reject by selecting a reason from the drop-down box or entering text in the comment box.
For non-CNS and MSRB closeout notices, participants can change the quantity, price or amount up to and including the delivery date using the update function. They can also extend the delivery date or delivery using the extend delivery date option.
Participants can view the status of all notices and search or sort all notices using specific field criteria. Participants can view a list of notices that they sent or received as well as the details of specific notices, including the history with details of when the action was taken, the date and time that action was taken and the person who took the action.
Participants can search for active or archived notices within a specific date range, including for all notices within that range or by notice type. Participants can further search within notice type by specific data fields, including execution date, settlement date, CUSIP or symbol or counterparty. Notices are automatically archived based on certain date parameters.
The Family Opportunity Act (FOA) was passed as part of the Deficit Reduction Act of 2005 (PL No. 109-171, Section 6062). It includes a state option to create a Medicaid Buy-in program for children with disabilities whose family income is less than 300% of the Federal Poverty Level (FPL). As of 2017, five states have implemented an FOA Medicaid Buy-in program: Colorado, Iowa, Louisiana, North Dakota, and Texas.
The Colorado Medicaid Buy-in for Children with Disabilities helped reduce the wait lists for waiver services because families with income below 300% FPL can now buy-in to Medicaid for their children with disabilities.
In poker and gaming "buying in" is the process of entering a tournament that requires an up-front payment. The size of the payment, otherwise known as the "buy in", determines the total winning prize pool and also contains a fee, otherwise known as the rake, that is paid to the house.
For example, a 50-person capacity tournament could cost $55 entry per player. In poker terms, this could be presented as "$50+$5", meaning $50 goes to the prize pool to pay the eventual winners and $5 (10%) is the rake. In this example, the prize pool would contain $2500 and the house would take a total of $250 (i.e. 10%).
In more recent times, however, difficult investment environments, increasing life expectancy, low gilt yields and in many cases shrinking company size, have left companies with expanding DB pension schemes burning a hole in their balance sheet. Sound familiar? It is unlikely you would have missed the press coverage surrounding BHS and Tata Steel, and the issues that those companies faced.
There are a number of risk transfer options available to DB pension schemes, attractive to employers and trustees wishing to protect against the risk of increasing liabilities. Two of the most common are buy-ins and buy-outs, commonly referred to as bulk annuity policies.
These are insurance contracts entered into between a pension scheme and an insurance company. In exchange for the payment of a premium, the insurer agrees to pay whatever the eventual liabilities are in respect of the insured members. With a buy-in, the policy covers a particular set of members, normally some or all of the pensioners. With a buy-out, the policy covers the entire membership. The key differences are set out below.
What kinds of arrangements are appropriate when a physician buys into a practice? Are you aware of the usual steps taken when a doctor leaves a practice? In the past, the solutions to these questions were fairly simple. Due to new tax concerns and economic changes, the answers have been modified and have become more complex. Medical Practice Buy-Ins and Pay-Outs reviews and discusses the factors that affect the entry or exit of a physician. This book walks you through the valuation principles, offers language suggestions, and explains each of the concepts necessary to protect the practice. Each chapter explains in a step-by-step process how to accomplish a buy-in or a pay-out. Appendices are included with sample documents, including shareholders' agreements, employment agreements, and stock option letters. Medical Practice Buy-Ins and Pay-Outs is an invaluable resource guiding you through the scenarios associated with incoming and outgoing partners.
Action Step Physicians should consult with experienced professionals, accountants, and attorneys who specialize in representing physicians in the buy-in process before negotiating the buy-in to a medical practice.
Physicians joining a practice have a unique opportunity to negotiate the terms of the buy-in before joining the practice as an employee. This is the ideal time for a physician to negotiate the buy-in because it is then that he or she has the most leverage, since the practice has a recognized need to expand and the physician is not yet committed to the practice. Also, at this point, physicians have not yet altered their professional and personal lifestyle and are not subject to a restrictive covenant that could weaken their negotiating position if the buy-in is negotiated toward the end of an employment period. In sum, physicians will be able to walk away from the relationship, with little or no harm, before it has started and they are free to accept another offer if they do not like the proposed terms of the buy-in. It may not be as easy for a physician to walk away once he or she has been an employee for a year or more.
Among the questions to ask about the buy-in before commencing employment are the following: When will the physician be offered a buy-in? How is the purchase price determined? How is the purchase price paid? What does it mean to become an owner in terms of compensation and decision making? Will any of the senior owners be retiring shortly? If so, what will their buyout be? Again, physicians have the most leverage to negotiate these terms before they begin to work for the practice.
Action Step Physicians should discuss and understand the parameters of a future buy-in at the time they first become employed by the practice. They should show their new employer that they are thinking about the future and are detail oriented. Also, physicians should be sure that the employment agreement sets forth the terms of the buy-in.
Action Step To maximize the pretax payment benefits rather than the post-tax payment detriments, physicians must analyze the allocation and tax treatment of the buy-in amount and the structure of the buy-in.
Action Step Physicians should spend appropriate time researching and reviewing the practice from an economic and legal perspective. They should receive appropriate representations and warranties regarding important issues, and the practice should indemnify them for damages resulting from past actions and any breach of a representation or warranty.
Action Step Physicians must review the structure of the practice to ensure that they are not creating additional unnecessary liability. If the entity is structured as a partnership (with unlimited liability), a physician should strongly recommend converting it to a limited liability company or a professional corporation to the extent it is allowed under state law. Physicians should avoid operating medical practices as partnerships.
Action Step Physicians should be sure that all related-party transactions are disclosed, are necessary, are at fair market value, and are documented. They should specify that patients are to be assigned equitably (based on procedures and payer mix) if compensation is based on productivity.
Before entering into negotiations regarding a buy-in to a medical practice, a physician should have a clear understanding of the issues that need to be addressed and should obtain appropriate professional advice. By avoiding and addressing the mistakes discussed in this section, physicians will find the post-buy-in relationship to have fewer surprises and disappointments.
This form shall be filed as required by 300.303 of this chapter with the trustee in a proceeding under section 5 of the Act by a broker-dealer who executed transactions out of which arose open contractual commitments, as defined by 300.300(c) of this chapter, with the debtor in the proceeding. The form shall be used to summarize the buy-ins and sell-outs of those open contractual commitments and shall be accompanied by the forms described in 301.300b and 301.300c.
Buy-ins required by SEC or SRO rules (e.g., to comply with the close out requirements of Regulation SHO or FINRA Rule 4320, or the buy-in requirement of SEA Rule 15c3-3) must be reported to CAT using the Buy-In handlinginstructions code (BIN).
Medicaid Buy-In programs are a work incentive initiative under both the Balanced Budget Act of 1997 and the Ticket to Work/Work Incentives Improvement Act of 1999. They allow people with disabilities to work and get or maintain Medicaid coverage. The Kansas Buy-In, Working Healthy, has been very successful to date, with many positive stories from enrollees. The strengths of Working Healthy and Buy-Ins nationally, however, are offset by various policy issues that limit the degree to which Buy-In participants can gain true independence through work.
Enrollees in Working Healthy relate some consistent themes about their positive experiences with the program. Comments on a June 2004 Satisfaction Survey mailed to Working Healthy participants (n=216) included the following: 041b061a72