News
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.
02-27-2017
Mardi Gras Holiday
The Pangburn Group will be closed for the Mardi Gras holiday on February 28th.
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.
11-17-2016
Public Site Protocol Migrated from HTTP to HTTPS
Pangburn's public website, www.pangburngroup.com, has recently been modified to make exclusive use of the HTTPS protocol, transitioning away from its non-encrypted HTTP counterpart. This change will allow all visitors to benefit from the confidentiality, integrity, and identity improvements provided by this standardized encryption technology. Our participant and administrator sites have always used HTTPS, and this change only impacts our public website. This transition should be seamless to our end users.
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.
12-16-2015
The Pangburn Group Mourns the Death of Wayne Pangburn
It is with heavy hearts that we announce that Wayne Pangburn, co-founder, President, & CEO Emeritus passed away peacefully at his home on Monday, December 14th, at the age of 71. Wayne had been in the life insurance industry his entire life and was actively employed until his death. He began his successful career in Boston in 1969 at Manufacturers Life. In 1976, he joined the home office of New England Life as Director of Advanced Underwriting, eventually rising to the position of Vice-President of Marketing. In 1982, Wayne moved to Louisiana and began a private benefits consulting practice. Eventually, Wayne and his son, Brian, co-founded The Pangburn Group. Under his leadership, the company grew to be nationally recognized with over 2,000 clients and over 50 employees. The impact that he had on so many professionals in our industry is evidenced by the plethora of calls and emails that have poured in since his death. He will be greatly missed. His obituary can be found at http://obits.theadvocate.com/obituaries/theadvocate/obituary.aspx?n=wayne-alan-pangburn&pid=176902625&fhid=5614.
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. A full press release is available here.
10-01-2015
Corporate Owned Life Insurance and the Corporate Alternative Minimum Tax
The Pangburn Group has released an article by Senior Vice President & Actuary, Howard D. Stern, FSA, entitled "Corporate Owned Life Insurance and the Corporate Alternative Minimum Tax" summarizing possible applications of the Alternative Minimum Tax (AMT) to Corporate Owned Life Insurance (COLI) policies. The article is available here.
09-15-2015
Modified Endowment Contract (MEC) Aggregation Rules
The Pangburn Group has released an article by Senior Vice President & Actuary, Howard D. Stern, FSA, entitled "Modified Endowment Contract (MEC) Aggregation Rules" summarizing the aggregation rules applicable for policies classified as Modified Endowment Contracts (MEC). The article is available here.
08-25-2015
Plan Administration for Nonqualified Executive Benefit Plans Podcast
The Pangburn Group is pleased to share a recent John Hancock Advanced Markets (JHAM) podcast on Plan Administration for Nonqualified Executive Benefit Plans with John F. Harrison, CLU, ChFC, FLMI Director, Advanced Markets, John Hancock Life Insurance Company and Trisha G. Morrison, COO, The Pangburn Group. The podcast is available in mp3 format here.
02-02-2015
BASEL III - Effects on BOLI
The Pangburn Group has released an article by Senior Consultant, Preston Fulco, entitled "BASEL III - Effects on BOLI" summarizing BASEL III BOLI compliance for banks with less than $250 billion in assets. The article is available here.
01-19-2015
The Pangburn Group Appoints Trisha Morrison Chief Operating Officer
The Pangburn Group today announced that Director of Corporate Client Relations, Trisha G. Morrison, has been appointed Chief Operating Officer, a position left vacant since the untimely passing of former COO, Gregory J. Mitchell, on February 3, 2013. As COO Trisha will oversee all business units including Client Relations and Plan Administration. She will also continue to be heavily involved in the day-to-day operations of the Corporate Client Relations Unit. Trisha joins CFO/CTO, Prasanth R. Pasala; Sr. Vice President & Actuary, Howard D. Stern; President, Wayne A. Pangburn; and CEO, Brian E. Pangburn in rounding out the Senior Management Team at The Pangburn Group.

A full press release is available here.
11-04-2014
AALU Releases Washington Report Newswire on Pending Mandatory Requirement of Electronic DOL Filing for Top Hat Plans
AALU has released WRN#14.11.03, which states in part, "On September 30, 2014, the Employee Benefits Security Administration opened a web-based filing system for the required statements for “top hat” plans (i.e., “unfunded” plans established for a “select group of management or highly compensated employees”).

On the same day, rules were proposed that would make electronic filing of these statements mandatory; currently, filing them electronically is optional. Under the proposed rules, electronic filing would become mandatory 120 days after the final rule is published in the Federal Register."

AALU has granted The Pangburn Group permission to add this report to the ERISA/DOL Information section of our Library and you may view the article here. More information about AALU is available from www.aalu.org.
09-30-2014
Information regarding "Shellshock" (CVE-2014-6271)
On September 25th, The Pangburn Group was made aware of a vulnerability in the BASH shell used by many Operating Systems and devices (CVE-2014-6271). A number of our own machines were potentially impacted by this news. However, the Pangburn Group used an accelerated patch schedule to rapidly resolve this issue on all machines which were potentially impacted, and the bug had been mitigated within a few hours of being publicly announced. No customer data or services have been impacted by this issue.
09-29-2014
DOL Proposes Rule for Electronic Filing of Top Hat Plan Statement
DOL Proposes Rule for Electronic Filing of Top Hat Plan Statement The Department has determined that regular mail or personal delivery are no longer the most efficient or cost-effective ways to file and process these notices and statements. The Department annually receives approximately 2,000 top hat plan statement filings. To make the information on these notices and statements accessible, the Department converts each paper filing to electronic format. The proposal will eliminate the need for this time-consuming task. Because the internet is widely accessible to persons who file these notices and statements, the Department expects that the regulated community will find electronic filing to be easier and more cost-effective than paper filing. Electronic filing should also facilitate the disclosure of the information to participants and beneficiaries, and other interested members of the public since electronically filed documents can be promptly posted on the Department's Web site. Thus, the Department, filers, and users all stand to benefit from this proposal in ways that are consistent with the goals of the E-Government Act of 2002. The Department is encouraging all filers to file electronically but it is not required at this time. See the proposed rule here.
06-05-2014
AALU Releases Washington Report Newswire on New IRS Program to Audit 409A Compliance
AALU has released WRN#14.5.30.2 regarding an IRS initiative to audit Section 409A compliance with respect to nonqualified deferred compensation arrangements. AALU has granted The Pangburn Group permission to add this report to the 409A Information section of our Library and you may view the article here. More information about AALU is available from www.aalu.org.
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.
12-30-2013
AALU Releases Washington Report Newswire on Final Volcker Rule BOLI Exception
AALU has released WRN# 13.12.30 discussing preservation of the BOLI exemption in the final Volker rule. AALU has granted The Pangburn Group permission to add this report to the FDIC & OCC sections of our Library and you may view the article here. More information about AALU is available from www.aalu.org.
11-07-2013
AALU Releases Washington Report on IRC 409A - Essential for Effectively Deferring Compensation
AALU has released Washington Report 13-45 discussing the importance of 409A in nonqualified deferred compensation arrangements. AALU has granted The Pangburn Group permission to add this report to the 409A Information section of our Library and you may view the article here. More information about AALU is available from www.aalu.org.
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.
10-07-2013
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.
09-23-2013
AALU Releases Washington Report on "Top-Hat Plan" Exemption Compliance for Deferred Compensation Arrangements
AALU has released Washington Report 13-37 covering "Top-Hat Plan" Exemption Compliance for Deferred Compensation Arrangements. AALU has granted The Pangburn Group permission to add this report to the ERISA/DOL section of our Library and you may view the article here. More information about AALU is available from www.aalu.org.
02-04-2013
The Pangburn Group Mourns Passing of Chief Operating Officer
We are deeply saddened to inform you that Gregory "Greg" Mitchell, Principal & Chief Operating Officer of The Pangburn Group, passed away on Sunday, February 3, 2013. Greg had been with the company for over 17 years and was an integral part of building our success and growth. His dedication and commitment left a mark that will forever be carried on by our staff and by all who had the pleasure of working with him. He will be dearly missed.

Information on services is available from http://www.legacy.com/obituaries/theadvocate/obituary.aspx?n=gregory-mitchell-greg&pid=162900164&fhid=11073.
08-15-2012
Equias Alliance - Impact of Basel III on Community Banks
Equias Alliance has recently published an informative document summarizing the Basel III Proposal and it's potential impact on community banks. The full document entitled "Impact of Basel III on Community Banks" is available here.
08-14-2012
SwingSet 2.0.0 Released
After six years we are pleased to announce the long overdue release of SwingSet 2.0.0. The project has seen a lot of activity, and many new features have been added to enable developers to have more control over the SwingSet components and various events. The SSDBComboBox now allows for filtering of items, making it easier to find the right item. SSDataGridHandler has been added to handle different events on the data grid. This is similar to the SSDBNav, which handles the events for SSDataNavigator. The example code and project demo have been updated to use the H2 database (in memory). Previously the examples and demo required a connection to a remote database and users were not able to make changes. With the use of H2, users can add/delete/update records from within the demo. Note that changes made in the demo application will be lost when it is closed.

For more information, please visit the project site: http://swingset.sourceforge.net. The project demo is available here:
http://swingset.sourceforge.net/SwingSetDemo.jnlp