Pangburn provides comprehensive recordkeeping and consultation for nonqualified benefit plans, including plans subject to Code Section 409A, grandfathered plans, short-term deferral plans, Code Section 457(f) plans, and split dollar programs.
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| • | GAAP accounting for plan benefits (ASC 710 or ASC 715) |
| • | Benefit projections |
| • | Assistance with FICA/FUTA calculations for plan benefits |
| • | GAAP accounting for corporate owned life insurance (COLI) and bank owned life insurance (BOLI) |
| • | Assistance with imputed income calculations for split dollar arrangements |
| • | COLI best practices reporting (101(j)) |
| • | Social Security sweeps to identify deceased participants |
| • | Asset/liability comparison, monitoring, & rebalancing (varies by carrier) |
| • | Plan distribution and redeferral tracking and reporting |
| • | Adjustments for events and distributions |
| • | Comprehensive historical transaction records |
| • | Plan management and assumption reports |
| • | Participant benefit statements |
| • | Secure online platform for plan sponsor, advisors, and participants (as applicable) |
| • | Electronic delivery of all reports |
| • | Daily account balance reports |
| • | Participant reallocation and transfer options |
| • | Online enrollment |
| • | Automatic notification of changes in applicable tax, accounting, and regulatory issues |
| • | On demand data for scheduled and unscheduled audits |
| • | Dedicated Client Relationship Manager |
Pangburn recognizes the importance of assembling a well-informed team within the client’s organization to ensure that a plan operates properly. It is critical that both plan decision makers and those executing the plan details understand the plan operations and applicable regulations. During the early stages of plan implementation and throughout the life of the plan, Pangburn strives to educate the appropriate client contacts and advisors through conference calls, online facilitated meetings, and other regular communications.
