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CAROL G. MURRAY, CPA, JD

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Carol has more than 20 years of experience working in the accounting and legal profession and most recently the Wealth Management Department of a national bank. Recognizing her passion for assisting individuals, her practice has focused on estate, tax, wealth, philanthropic, and business succession planning for high net worth individuals and their families.

Carol’s professional experience uniquely positions her to assist family offices and their clients with the stewardship and deployment of family resources.

As Chief Operations Officer of the firm’s Private Family Office practice, Carol is responsible for ensuring prompt responsiveness from Schneider Downs inter-disciplinary service team. The team’s focus is on the provision of customized solutions and fewer transaction-like interactions. Her oversight of the integrated consultative team assures clients that Schneider Downs is thinking about the management of their financial affairs as a whole by harnessing extensive expertise on their behalf.

Education

J.D.—Duquesne University
B.S.—Accounting and Finance, Clarion University of Pennsylvania

Memberships and Associations

Member—American Institute of Certified Public Accountants
Member—Allegheny County Bar Association
Member—Allegheny County Bar Association Women in the Law Committee
Board Member—Pittsburgh I.C.E. (Inclusion Creates Diversity)
Committee Member—Austin’s Playroom Project
Member—Upper St. Clair School District Community Curriculum Committee
Past President—Upper St. Clair PTA Council

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FEATURED

Big Problem: A Not-for-profit Client Out Of 401(k) Compliance.

Big Thinking: Allowing More Contributions By Highly Paid Employees.

Shareholder JASON LUMPKIN serves as a Practice Unit Leader for SDAdvantage Retirement Solutions. He has more than 17 years of qualified retirement plan experience, primarily serving middle market, closely held businesses. His background includes plan design, documentation reporting, participant education, and ongoing administration for defined contribution plans, including employee stock ownership plans.
While working with one of our non profit clients, Jason’s team discovered that the organization was failing non-discrimination testing due to poor 401(k) participation among its employees. To address the issue, we recommended the implementation of a second retirement plan, a 403(b) plan, that would cover only the highly paid employees, allowing them to contribute the maximum amounts without concern for the limits imposed by the 401(k) plan’s non-discrimination testing. “These top employees were no longer constrained by the limits of the 401(k) plan testing results,” Jason said. “Plus, the organization no longer had to be concerned about the non-discrimination test. We also avoided implementing a “safe harbor” design in the 401(k) plan, which can result in costly employer contributions and vesting provisions that favor short-term employees.” Schneider Downs provides Big Thinking and Personal focus in delivering a variety of services for large and small businesses, both publicly and privately held, as well as nonprofit organizations, government entities and more. Through our commitment to thought leadership and knowledge management, we deliver the solutions our clients need with a personal commitment to service.
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