March 3, 2005

by Reb Yudel
Steven I., call your accountant!

Call your dad's accountant. Call any accountant. Because in Steven I. Weiss' Forward piece about Malcolm Hoenlein's compensation, he doesn't answer the key question: Is it standard business practice for a vesting pension to turn into a $700,000 salary boost on an organization's 990 filings?

I know nothing about vesting pensions; the closest I ever got was a 401k plan, which vested about three months before my department was closed down.

But there are plenty of accountants out there who do know, and can put the critical 'buzz' -- and Hoenlein's response -- into proper perspective.

He buzzed, he said -- we can do better than that, everyone.

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