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.

QUIZ

Personal happiness and new hires’ pay on the rise

The news of the past couple of weeks hit home with reports on personal financial satisfaction and pay for finance professionals. See how much you know about recent news reports with this quiz.

SPONSORED REPORT

Preventing and detecting fraud at not-for-profits

Organizations in all industries must deal with the potential for fraud to occur, and design controls to prevent and detect it. Environment, policies, and controls can help organizations steer clear of problems.

PROFESSIONAL LIABILITY SPOTLIGHT

The dangers of dabbling

To meet evolving marketplace needs, CPAs often look to diversify their service offerings. Firms can mitigate the risk of experiencing competency-related professional liability claims by implementing these basic steps.