President Obama Nominates UPMC’s UPMC and the Army Reserve Join in
Tara O’Toole for Under Secretary for Employer Partnership
Science & Technology, Department The University of Pittsburgh Medical Center (UPMC) and the U.S. Army Reserve have
of Homeland Security joined together in an effort designed to strengthen the community, support Army
Reserve Soldiers and their Families, and maintain a strong economy. This effort is part
of the Army Reserve’s groundbreaking Employer Partnership Initiative (EPI).
President Barack Obama announced his intent to From this public-private employment partnership, both organizations will be able to
nominate Tara O’Toole, M.D., M.P.H., for Under recruit, train and employ talented Army Reserve Soldiers looking to serve both their
Secretary for Science & Technology in the nation and their community.
Department of Homeland Security. “I am pleased to have UPMC become a valued member of our Employer Partnership
Dr. O’Toole is the founding director and CEO of Initiative one year after launching this ground-breaking enterprise,” said Lt. Gen. Jack
UPMC’s Center for Biosecurity. Since the creation C. Stultz, Chief, Army Reserve. “Our alliance with UPMC is a natural since health care
of the Center in 2003, Dr. O’Toole has been instru- is one of our core capabilities. I look forward to working closely with an industry leader
mental in making UPMC and the University of like UPMC to develop our greatest shared asset, our people.”
Pittsburgh an international leader in the critical Through EPI, the Army Reserve is partnering with business leaders such as UPMC to
field of biosecurity and public health preparedness. develop staffing solutions to meet America’s industry demands, tackle the issue of work-
“Bioterrorism is considered one of the greatest force preparedness, and reinvigorate America’s human talent to remain competitive in
national security threats of the 21st century,” said the global economy.
Jeffrey A. Romoff, president and chief executive “We are honored to be a part of this historic partnership,” said G. Nicholas Beckwith
officer of UPMC. “In this regard, Tara’s expertise III, chairman of the board, UPMC. “The Army Reserve employs some of the most ded-
makes her uniquely qualified to step into this icated and talented professionals in the country, and we are eager to utilize their unique
important role at a time when the dual threats of knowledge and skills.”
bioterrorism and pandemic disease are at the fore- EPI establishes a process whereby employers and the Army Reserve secure and share
front, as we have seen in this past two weeks with Dr. Tara O’Toole the talents of trained professionals. Partner employers will benefit from the employment
H1N1. I have worked closely with Tara for the last of men and women with Army values, experience and proven leadership skills.
five years. There are few people who can match her intelligence, leadership skills and
her understanding of how government works. With her wealth of experience, knowl-
edge and energy, she will be an extraordinary addition to the Obama Administration.”
Throughout her career, Dr. O’Toole has worked in leadership positions both in gov-
ernment and the private sector. Prior to joining UPMC, Dr. O’Toole was one of the orig-
inal members of the Johns Hopkins Center for Civilian Biodefense Strategies and served
as its director from 2001 to 2003. She has written and lectured extensively on biosecu-
rity and nuclear security issues, nationally and internationally. She has served on
numerous government and expert advisory committees. She served as the Chairman of
the Board of the Federation of American Scientists. Dr. O’Toole is co-editor-in-chief of
the journal Biosecurity and Bioterrorism: Biodefense Strategy, Practice and Science. 2010 is the Year to Consider
the Roth Rollover
2 010 marks the first year conversion in 2010 can be
that high net-worth spread out over the succeed-
individuals, such as ing two-year period of 2011
physicians and executives at and 2012. Conversions after
healthcare facilities, can take 2010 will be fully taxable in
advantage of a major new tax the year the conversion is
Buried in the Tax Increase An advantage of the Roth
Prevention and Reconcil- IRA of particular interest to
iation Act (TIPRA) passed by high net-worth individuals
Congress in 2006 are new is that Roth IRA investors
rules that for the first time are not subject to mandato-
enable high net-worth indi- BY NADAV BAUM ry minimum distribution
viduals to take advantage of requirements at age 70 ?.
Roth Individual Retirement Accounts High net-worth individuals
(IRA). Investments in a Roth IRA grow tax are more likely to be able to pay for retire-
free, but until now those with adjusted ment expenses with funds from taxable
gross incomes above $100,000 have been accounts or tax-free municipal bonds, and
prohibited from opening Roth IRA can benefit from keeping the funds in the
accounts. The new rules will allow indi- Roth IRA as long as possible, so they can
viduals, regardless of their income levels, keep growing tax-free.
to convert their traditional IRA and Another benefit of the Roth is in estate
401(k) accounts to Roth IRAs. As with planning. Roth IRAs provide an excellent
any investment decision, there are poten- source of asset transfer since the account
tial advantages and disadvantages of con- grows tax-free without any requirement to
version. make distributions during your lifetime.
Roth IRAs offer real advantages to indi- Roth IRAs are not considered income to
viduals in the areas of tax, retirement and the decedent, and consequently the bene-
estate planning. ficiaries will not pay income tax on their
The tax advantages are many: Roths are distributions from a Roth IRA.
funded with after-tax dollars and when Before making any planning decision
holders take qualified distributions from regarding converting to a Roth IRA, one
a Roth IRA, they don’t pay federal taxes should consult with a qualified tax advi-
on the distributions received. Converting sor in conjunction with a financial plan-
to a Roth IRA creates a tax-free vehicle ner. An appropriate recommendation can
from which one can derive retirement only be made after professional consulta-
income. Federal law permits investors to tion to determine if any of the strategies
make the change by paying the taxes on made possible by TIPRA’s 2010 provisions
assets converted from the traditional IRA are right you.
to a Roth IRA.
Depending on the individual circum- Nadav Baum, The Nadav Baum Group,
stances, there could be distinct advantages Managing Director of Investments, BPU
in planning for a Roth conversion in 2010. Investment Management, Inc., can be
The taxable income that results from a reached at email@example.com.
40 May 2009 wpahospitalnews.com Hospital News