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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