Thread by @CharlesPKroll

Is Maintenance of Certification -- effective 01-01-90 -- a disguised funding mechanism for executive retirement plans?

Exhibit A:

https://twitter.com/CharlesPKroll/status/1542949378830192640

☐ Top 10 by Contributions
☐ Top 10 by Net Assets
☐ Top 10 by Employee Account Balances

🧵 1/5 #MedTwitter #MedEd

2020 Board-Funded Retirement Plan Contributions: $16.8 Million

☐ Top 10 Boards: $16.1 Million (ABP $8,050,000)
☐ All Others: $670,000
☐ 2 Boards With $0 Employee Contributions: ABIM, ABP
☐ 3 Boards With 2 Plans: ABFM, ABPN, ABS

2/5 #MedTwitter #MedEd #Pediatrics #Pedtwitter

Medical Specialty Boards' Retirement Plan Net Assets as of 12-31-20: $228,358,000

☐ Top 10 Boards: $217.4 Million
☐ All Other Boards: $11.0 Million
☐ Top 3:
➡️ Internal Medicine: $46.2 Million
➡️ Pediatrics: $37.9 Million
➡️ Family Medicine: $29.5 Million

3/5 #MedTwitter

Top 10 Medical Specialty Boards' Average Employee Retirement Plan Account Balances as of 12-31-20

☐ 3 Boards With 2 Plans: ABS, ABPN and ABFM
☐ Top 3 Avg Employee Account Balances:
➡️ Surgery: $549,100
➡️ Emergency: $476,800
➡️ Psych and Neurology: $388,200

4/5 #MedTwitter

Retirement Plan Net Assets 12-31-19: $196.5 million

+ Contributions: Board $16.8 million + Employee $4.1 million
+ Rollovers: $509,000
+ Invest Inc: $29.0 million
- Benefits Paid: $18.2 million
- Admin/Other: $298,000

= Retirement Plan Net Assets 12-31-20: $228.4 million

5/5

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