News

07/30/2018 Nonqualified Plan Advisor Conference - Sept 23 - 25 in Chicago

The Pangburn Group is pleased to announce our sponsorship of NAPA’s inaugural Nonqualified Plan Advisor Conference, where advisors will explore:

  • adding nonqualified plans to their business model
  • bringing in new business by providing nonqualified plans
  • retaining business with nonqualified plans

Participants also have the opportunity to be one of the first to earn the Nonqualified Plan Advisor (NQPA) Certificate. Bootcamp attendees will leave with tangible proof of their nonqualified plan expertise. View the agenda.

Please register now to attend the NAPA Nonqualified Plan Advisor Conference in Chicago September 23–25.

03/13/2018 Impact of the New Tax Law on Nonqualified Plans

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, could impact the design and administration of nonqualified plans. Howard D. Stern, Consulting Actuary for The Pangburn Group, discusses the potential effects the new tax law could have on these plans in an article which is available here.

02/13/2018 Mardi Gras Holiday

The Pangburn Group will be closed on Tuesday, February 13th for the Mardi Gras holiday.

08/26/2017 Pangburn Announces Release of Redesigned Website for Participants, Plan Sponsors, and Producers

After more than a year of redesign, development, and testing, Pangburn is pleased to announce the production release of our secure website for Participants, Plan Sponsors, and Producers. The new site was designed using the latest web standards and now dynamically adapts to a wide variety of browsers and devices including mobile phones and tablets. The new site provides a significant visual refresh with better organized content, a new look and feel, and fully redesigned report exports (PDF and spreadsheet). We welcome your feedback at info@pangburngroup.com.

04/06/2017 Pangburn Announces Beta Release of Redesigned Website for Participants, Plan Sponsors, and Producers

After a year of redesign, development, and testing, Pangburn is pleased to announce the public beta release of our secure website for Participants, Plan Sponsors, and Producers. The new site was designed using the latest web standards and provides a significant visual refresh along with better organized content. It has been designed to dynamically adapt to a wide variety of browsers and devices including mobile phones and tablets. We want to give users the ability to preview the new site and provide feedback while we continue to fine-tune the site for production release.

If you have existing login credentials and would like to evaluate the new site, please visit https://beta.pangburngroup.com. We welcome your feedback at beta@pangburngroup.com.

11/28/2016 The Pangburn Group has successfully completed another SSAE 16 (SOC 1) Type 2 examination

Pangburn has successfully completed an American Institute of Certified Public Accountants (AICPA) SSAE 16 (SOC 1) Type 2 examination conducted by NDB Accountants & Consultants, LLP. In doing so, Pangburn maintains its adherence to one of the most stringent, industry-accepted auditing standards for service companies and provides additional assurance to its clients, through an independent auditor, that both its business process controls and information technology (IT) controls operate effectively. A full press release is available here.

09/26/2016 FICA for Defined Benefit Plans

FICA calculations for nonqualified defined benefit arrangements can be complex and often overlooked by plan sponsors. The Pangburn Group's Director of Non-Account Balance Recordkeeping, Carrie Raleigh, CPA, provides general guidance and alternatives for reporting FICA in an article which is available here.

09/15/2016 Proposed Modifications to the 457 Regulations

On June 21, 2016, the IRS proposed regulations prescribing rules for 457 plans. Section 457 of the Internal Revenue Code governs the income taxation of deferred compensation arrangements for employees and independent contractors of tax exempt organizations and state and local governments. The Pangburn Group's Senior Vice President & Actuary, Howard D. Stern, FSA, authored an article summarizing the proposed regulations. The article is available here.

08/18/2016 IRS Issues Long-Awaited Updates to Nonqualified Plan Regulations

Recently, the IRS issued two significant, long-awaited proposed regulations affecting nonqualified plans. The first of these regulations provides clarifications and modifications to the section 409A final regulations. The second, and possibly most surprising, addresses deferred compensation plans for tax-exempt entities as well as state and local governments. Howard D. Stern, FSA, MAAA, Sr. Vice President & Actuary for The Pangburn Group, recently authored an article summarizing the proposed 409A regulations. You can read it here. A summary of the changes for tax-exempt entities and state and local governments is forthcoming.

05/29/2016 Pangburn Celebrates 20 Years in Business; Releases a new Public Website

On May 29th, 1996, in response to the demand for fee-based plan administrative services in the nonqualified executive benefit marketplace, Wayne and Brian Pangburn co-founded “The Pangburn Company, Inc.” Originally located in a small basement along the banks of False River in New Roads Louisiana, Pangburn began with a total staff of three including Wayne, Brian, and their secretary to recordkeep a handful of small nonqualified benefit and split dollar plans. Twenty years later, just a mile-and-a-half down the road from the basement where they started, Pangburn has a staff of approximately 50, serving over 2,000 clients across the country.

To commemorate our anniversary, Pangburn is pleased to launch our new public website at www.pangburngroup.com. The new site was designed using the latest web standards, and provides a significant visual refresh along with better organized content. It has been designed to dynamically adapt to a wide variety of browsers and devices including mobile phones and tablets. We look forward to extending this new design to our secure client/producer and participant websites later this year.

Pangburn would like to thank our clients and financial advisors for their continued business and support. We welcome your feedback at info@pangburngroup.com.

03/11/2016 The Short Term Deferral Rule - Alleviating the Impact of the 409A Regulations

The Pangburn Group has released an article by Senior Vice President & Actuary, Howard D. Stern, FSA, entitled "The Short Term Deferral Rule - Alleviating the Impact of the 409A Regulations'" which explains the requirements and conditions under which a deferral of compensation may be able to avoid the implications of Section 409A. The article is available here.

01/18/2016 Nonqualified Deferred Compensation Plans - 'The Perfect Storm'

The Pangburn Group has released an article by Senior Vice President & Actuary, Howard D. Stern, FSA, and Wayne A. Pangburn, CLU entitled "Nonqualified Deferred Compensation Plans 'The Perfect Storm'" which delves into the changing landscape of NQDC plans as a result of regulatory and accounting changes over the last several years. The article is available here.

11/09/2015 The Pangburn Group has successfully completed another SSAE 16 (SOC 1) Type 2 examination

The Pangburn Group has successfully completed an American Institute of Certified Public Accountants (AICPA) SSAE 16 (SOC 1) Type 2 examination conducted by NDB Accountants & Consultants, LLP. In doing so, The Pangburn Group establishes its adherence to one of the most stringent, industry-accepted auditing standards for service companies and provides additional assurance to its clients, through an independent auditor, that both its business process controls and information technology (IT) controls operate effectively.

04/10/2014 Information regarding "Heartbleed" (CVE-2014-0160)

On April 7th, The Pangburn Group was made aware of a software bug (CVE-2014-0160) in certain versions of OpenSSL, which is used by many companies, including our own, to encrypt network traffic. The availability of a patch to mitigate the problem was made available to us at approximately 10 PM CDT on Tuesday evening. We began the process of installing the patch and by approximately midnight, all of our servers had been secured. An additional patch was then applied to fully rectify the problem on all affected machines and by 3:30AM on Tuesday morning, the issue had been fully resolved. As a precaution, The Pangburn Group has already reissued SSL certificates for all of its internal and external servers, in order to ensure the continued integrity of our encrypted HTTPS traffic. Please note that the externally accessible, encrypted sites we use for client and participant-related web traffic, such as secure.pangburngroup.com were NOT affected by this bug.

12/10/2013 2013 General Instructions for Forms W-2 and W-3

The IRS recently released the 2013 General Instructions for Forms W-2 and W-3 highlighting the following additions:

   * 0.9% Additional Medicare Tax on Federal Insurance Contributions Act (FICA) or Railroad Retirement Act (RRTA) for compensation paid to employees in excess of $200,000 beginning 2013.

   * Employee social security tax withholding restored to 6.2% beginning 2013.

   * A Retirement Checkbox Decision Chart and a Nonqualified Deferred Compensation Reporting Examples Chart have been added.

Please click here for more information. A PDF of the 2013 General Instructions for Forms W-2 and W-3 may be downloaded here.

For more information regarding withholding requirements related to Nonqualified Deferred Compensation Plans and other executive benefits, please see our 2013 Reporting and Wage Withholdings Requirements for Participants in a Nonqualified Deferred Compensation Plan summary.

10/21/2013 We've Moved!

On Friday, October 18th, The Pangburn Group moved into its new office building. Please note that our shipping address is now 301 Major Parkway, New Roads, LA 70760. Our USPS mailing address remains PO Box 900, New Roads, LA 70760.

10/30/2012 New York Stock Exchange closed Oct 29th & Oct 30th

The New York Stock Exchange is closed on October 29, 2012 and October 30, 2012 due to Hurricane Sandy. Plan balances will be updated the day following date the New York Stock Exchange is open.

06/29/2012 Performance Report Enhancements

The "Performance Report" section of the plan administrator and participant websites was recently enhanced to provide more concise deemed investment performance information for plans valued with mutual funds. Users now have the ability to view, in a single location, the deemed investment options available for their plan as well as performance information updated daily for standard historical periods (e.g., 1 month, 3 month). The Pangburn Group is confident that this addition to the Performance Report will be a useful tool for participants as they consider their investment choices. The performance report can be found under the "Deemed Investment" section of the websites.