Periodic payout reviews also advisable

BY EDUARDO JORDAN, CPA

What a great article and wonderful sage advice that appeared in the JofA (“When a client leaves or loses a job,” Feb. 2012, page 40).

As a CFO and controller in industry, may I add that it would be wise for participants to periodically review their choices of payout to make sure that their choices reflect their desires and current lifestyles. Over the last couple of decades, I have encountered several instances when employees are retrenched and, lo and behold, these terminated employees realize that they have chosen a payout from either their deferred comp or their 401(k) plans that does not match their current situation.

Keep up the great articles.

Eduardo Jordan, CPA
Aliso Viejo, Calif.

Editor’s note: Jordan is a member of the AICPA governing Council.

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