Super CPA profile: L. Samuel Saunders

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L. Samuel Saunders
Harris, Harvey, Neal & Co., CPAs, Danville

Title: Senior partner

Birthplace: Danville

Education:  Bachelor’s degree in business (accounting option), Virginia Tech

Wife: Dianne Russell Saunders

Children: Mark H. Saunders, 39, a computer engineer; and Timothy D. Saunders, CPA, 38, a computer programmer

Career mentor:  The late Fletcher D. Harris, CPA (a partner in the firm)

In what ways is the field of employee benefits changing?
“Retirement plans have changed dramatically over the last 10 to 15 years and continue to change.  In small business, most defined-benefit pension plans have been eliminated.  These plans provided a certain fixed benefit based on salary at retirement and were completely funded by the employer.  These plans have been replaced with conventional profit-sharing plans with discretionary contributions.  The profit-sharing plans generally have 401(k) features allowing the employee to contribute to the plan and the contribution of the employer is discretionary.”

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