Stephanie Zaleski-Braatz, CPAShe | HerAudit Manager
P 312.670.7444 | F 312.670.8301
Overview
Stephanie Zaleski-Braatz has been with ORBA since 2012, beginning her career with the firm as a tax season intern. She has experience in both for-profit and not-for-profit industries. Her not-for-profit experience includes schools, museums, and other charitable organizations. As a member of ORBA’s Employee Benefits Plans Group, Stephanie focuses on employee benefit plan audits. She also has experience preparing tax returns for not-for-profit organizations, individuals and corporations.
Stephanie is Co-Chair of ORBA’s Community Outreach Committee and is a member of the firm’s Diversity, Equity & Inclusion Committee and Women’s Alliance Group. She also serves on the Board of Directors for the Illinois CPA Society
Overview
Stephanie Zaleski-Braatz has been with ORBA since 2012, beginning her career with the firm as a tax season intern. She has experience in both for-profit and not-for-profit industries. Her not-for-profit experience includes schools, museums, and other charitable organizations. As a member of ORBA’s Employee Benefits Plans Group, Stephanie focuses on employee benefit plan audits. She also has experience preparing tax returns for not-for-profit organizations, individuals and corporations.
Stephanie is Co-Chair of ORBA’s Community Outreach Committee and is a member of the firm’s Diversity, Equity & Inclusion Committee and Women’s Alliance Group. She also serves on the Board of Directors for the Illinois CPA Society
Proactive
Stephanie makes sure she is always readily available to answer questions and concerns that her clients may have. She enjoys spending time interacting with clients and finding strategies that will help them solve their issues in the most efficient manner.
Outside of the Office
In her free time, Stephanie loves to explore places in and around Chicago with her husband and sons. One of her family’s favorite places to visit is the Chicago Botanic Gardens. They also love to try new restaurants and breweries. Stephanie enjoys traveling to new cities and visiting family and friends spread out across the country. She is also an avid reader and loves spending time gardening on her rooftop.
Articles
GEN NEXT: Creating My Own Version of ‘Having It All,’ Illinois CPA Society, Insight, Summer 2024
Certifications & Licenses
- Certified Public Accountant
Memberships & Affiliations
- American Institute of Certified Public Accountants
- Illinois CPA Society
- Director, Board of Directors
Education
- B.S., Accounting, Purdue University
- Certificate, Entrepreneurship and Innovation, Purdue University
Blogs
Plan Forfeitures: Recent Lawsuits Create Uncertainty
Over the last couple of years, a surge in class-action lawsuits has raised questions about the proper use of plan forfeitures. Forfeitures occur when participants in 401(k) or similar defined-contribution plans leave the company before employer contributions have fully vested. Many plans use forfeited funds to offset future employer contributions, but the recent lawsuits allege […]
Despite the Potential Benefits, the Roth 401(K) Remains Underutilized
For more than a decade, plan sponsors have been able to amend their 401(k) plans to include a post-tax deferral contribution called Roth, but only about 86 percent of plan sponsors have made it available to participants, according to the Plan Sponsor Council of America. Despite the potential benefits of a Roth, only a quarter […]
How To Prepare for a 2021 Lease Audit
Over the past two years, businesses have endured many unexpected changes and disruptions, and the impact on corporate real estate and the workplace has been drastic. As your organization adapts for the future and evaluates the cost of office occupancy, you should act now by conducting a 2021 lease audit in the upcoming months. This […]
What the Great Resignation Means for 401(k) Accounts
United States workers are continuing to leave their jobs and employers are struggling with high levels of employee turnover. Another 4.4 million U.S. workers quit their jobs in February alone, according to data from the U.S. Bureau of Labor Statistics. Meanwhile, the number of job openings in the U.S remains elevated at 11.3 million, as […]
New Lease Accounting Standard is Finally Here — Are You Ready?
After repeated postponements by the Financial Accounting Standards Board (FASB), the new lease accounting standard is finally set to take effect for private companies for fiscal years beginning after December 15, 2021 (2022 for calendar year-end companies). Found in Accounting Standards Codification (ASC) 842, the new standard applies to all businesses that report their financial […]
Audit Communications to Plan Sponsors More Robust Under SAS 136
The AICPA’s Statement on Accounting Standards No. 136 (SAS 136), “Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (Employee Retirement Income Security Act of 1974), will meaningfully change the audit process for defined contribution plan sponsors. The AICPA issued SAS 136 with the goal of giving readers of […]
Sign Your Plan Document, Warns the IRS
When the IRS audits a retirement plan, it expects the plan sponsor to produce a plan document and amendments that have been signed by the relevant fiduciaries. Except under extraordinary circumstances, an unsigned plan document will not suffice. The IRS recently reiterated this position in a memorandum issued by the Office of Chief Counsel. It […]
The Real Estate Industry Awaits a Return to Normalcy and Focuses on Tenants, not Valuations
One thing that the real estate industry has had to learn from the economic cycles of the past three decades and from crises like the savings and loan collapse is patience. On the surface, the global pandemic seems to have had a uniform impact on the global economy — the tendency is to look at […]
How to Handle Laid-Off Employees’ 401(k) Accounts Still in Your Plan
As employee headcount grows, some turnover now and then usually does not create many concerns about “orphan” 401(k) accounts. However, employers forced to downsize during the economic downturn brought on by the COVID-19 pandemic might have a larger proportion of accounts left behind by former employees. This could be a problem, but there are some […]
Should Your 401(k) Vest Now or Later?
According to survey data from the Plan Sponsor Council of America (PSCA), roughly 40% of 401(k) plan sponsors provide immediate vesting on their matching contributions. In theory, employers that offer immediate vesting on matching 401(k) contributions might have a leg up on other companies when recruiting workers in a tight labor market. However, the jury […]
Make Your Summary Plan Descriptions User-Friendly
The language in the Summary Plan Description (SPD) is usually a combination of wording from cautious Employee Retirement Income Security Act (ERISA) attorneys and human resources professionals who are concerned with the use of too many general, simple statements. The result is often a complicated document that many employees receive, glance at and toss into […]
Gender Gaps in Retirement Savings
Although women have a longer lifespan than men, they tend to save less for retirement. Based on a recent study from the Center for Retirement Research, an aggressive educational program can help narrow the gap in retirement savings.
Reduce Plan Leakage by Upgrading Your 401(k) Loan Rules and Practices
If your retirement plan allows loans and/or hardship withdrawals, it may be leaking money. Plan leakage refers to participants allowing their account balances to shrink, because of either loans or hardship withdrawals. Plan loans do not always result in permanent leakage when they are repaid, but they still can have adverse long-term consequences for participants.
How to Handle Orphaned 401(k) Plan Accounts
It’s become common for 401(k) plans to include a significant number of orphan accounts due to employees changing jobs more frequently and much of the workforce hitting the retirement age. If your plan has a lot of them, it might be time to think about whether it’s time to actively pursue these accounts. The answer depends in part on how your plan charges administrative fees and the value of these orphaned 401(k) accounts.
How to Handle Hardship Withdrawals
Many 401(k) plans feature a hardship withdrawal option. Both the IRS and DOL maintain strict regulations around these provisions. This article discusses how, in early 2017, the IRS issued updated audit guidelines regarding requirements for hardship withdrawals and guidance for plan sponsors on how to remedy errors in the administration of these withdrawals.
Auto-Escalation Should be Offered in Conjunction with Auto-Enrollment
Auto-enrolling 401(k) plan participants without also incorporating an auto-escalation feature might be a counterproductive exercise. Survey data suggests that average 401(k) plan deferral rates have been trending downward even though more employers are adopting auto-enrollment. The apparent culprit: low auto-deferral rates. This brief article highlights how to use both auto-enrollment and auto-escalation clauses to help benefit employees.
Be Careful What You Toss: Plan Record Retention Requirements
As far as the IRS is concerned, you cannot be overly cautious with saving too many retirement plan documents. Plan sponsors, on the other hand, might reasonably feel the need to free up file storage space every now and again by purging documents that are no longer needed. This article examines where to draw the line and also looks at IRS rules for documentation of hardship withdrawals and participant loans.
Year-End Notices: Staying on Top of the Requirements
As the calendar year comes to a close, plan sponsors should begin preparing annual notices. For plans using the calendar year, numerous notices are due to be given in the next few months. This article highlights some of the notices that must be sent to either participants, the IRS or the DOL in the next three months.
Are Your 401(k) Plan Administrative Fees Allocated Equally?
Most 401(k) plan participants should not bear a higher proportion of a qualified retirement plan’s administrative costs than others because of their investment choices. This blog notes that the numbers can be significant and discusses how to reasonably allocate fees.
News
ORBA’s Stephanie Zaleski-Braatz Appointed to Illinois CPA Society’s Board of Directors
CHICAGO — ORBA, one of Chicago ’s largest independent accounting, tax and consulting firms, is pleased to announce that Stephanie Zaleski-Braatz, CPA has been named to the Illinois CPA Society’s (ICPAS) Board of Directors. She will serve in this role for a three-year term through March 2027.
ORBA’s Stephanie Zaleski-Braatz Named Chair of Illinois CPA Society’s Young Leaders Advisory Council
ORBA, one of Chicago’s largest public accounting firms, is proud to announce that Stephanie Zaleski-Braatz, CPA has been named Chair of the Illinois CPA Society (ICPAS) Young Leaders Council (YLAC). She will serve in this role for a two-year term through March 31, 2024.
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to announce that Stephanie Zaleski-Braatz, CPA has been appointed as Vice Chair of the Illinois CPA Society’s Young Leaders Advisory Council (YLAC).
ORBA is mentioned n the media for announcing Alison Fetzer’s appointment to Chair of Illinois CPA Society’s Not-For-Profit Committee, and Stephanie Zaleski’s membership to the Illinois CPA Society’s Young Leaders Advisory Council. Reporting media include MarketWatch, Yahoo! Finance, the St. Louis Business Journal, Seeking Alpha, and the Chicago Business Journal.
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, is pleased to announce that Alison Fetzer, CPA, has been named Chair of the Illinois CPA Society (ICPAS) Not-For-Profit (NFP) Committee effective April 1, 2018, and Stephanie M. Zaleski, CPA has joined the ICPAS Young Leaders Advisory Council effective April 1, 2018.
ORBA’s Stephanie Zaleski was mentioned in the media as having been reappointed to the Illinois CPA Society’s Fall 2017 Employee Benefits Conference Task Force. Reporting media include the Daily Herald, Merrill Edge and the Chicago Business Journal.
ORBA’s Stephanie Zaleski was mentioned in the media as being appointed a member of the Illinois CPA Society’s Fall Employee Benefits Conference Task Force. Reporting media include MarketWatch, Reuters, Boston.com and Yahoo! Finance.
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, is pleased to announce that Stephanie Zaleski, CPA has been reappointed to the Illinois CPA Society’s (ICPAS) Fall Employee Benefits Conference task force.
ORBA’s Stephanie Zaleski Named to ICPAS Fall Employee Benefits Conference Task Force
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is proud to announce that Stephanie Zaleski, CPA has been appointed to the Illinois CPA Society’s (ICPAS) Employee Benefits Conference Task Force.
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, announces that five new hires have recently joined the firm.
