Alan D. Nesburg, PC Alan D. Nesburg, PC

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  Alan D. Nesburg advises public and private businesses on a wide range of employee benefit matters, including qualified pension and 401(k) plans, deferred compensation, executive compensation and group benefits programs. Read Alan Nesburg's full bio.

DOL Issues Final Electronic Disclosure Rule for Retirement Plans


By , and on Jun 16, 2020
Posted In Employee Benefits, Retirement Plans

Under the recently published final rule issued by the US Department of Labor, retirement plan administrators can choose to deliver required disclosures electronically by complying with the conditions of a new safe harbor. The final rule represents an opportunity for retirement plans to save costs and enhance participant access to disclosure documents. Access the full...

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Up, Up and Away: 2020 Increased Penalties for Employee Benefit Plans


By , and on Feb 13, 2020
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans

For 2020, legislation enacted in December of 2019 dramatically increases penalties imposed by the Internal Revenue Code (the Code) for late filing of certain employee benefit plan notices and reports. In addition, a final rule published by the Department of Labor (DOL) makes inflation adjustments to a wide range of penalties. Learn the penalty amounts...

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Frozen 2: IRS Expands Nondiscrimination Relief for Frozen Defined Benefit Pension Plans


By , and on Dec 10, 2019
Posted In Employee Benefits, Retirement Plans

The Internal Revenue Service (IRS) expanded the temporary relief for frozen defined benefit plans to include nondiscrimination requirements relating to benefits, rights and features, available for plan years beginning before 2021. The expanded relief enables frozen pension plans to satisfy the nondiscrimination requirements that apply to benefits, rights or features. Access the full article.

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DOL Issues New Proposed Rule for Electronic Disclosures of Retirement Plan Notices


By , and on Oct 31, 2019
Posted In Employee Benefits, Retirement Plans

The Department of Labor (DOL) issued a proposed rule that, if finalized, would expand its existing guidance and liberalize rules for electronic disclosure of retirement plan notices under ERISA. The proposed rule, which sets forth a notice and access safe harbor, would permit electronic disclosure as the default method of delivery while permitting participants to...

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Once Again, IRS Extends Nondiscrimination Relief for Frozen Defined Benefit Plans


By and on Sep 19, 2019
Posted In Employee Benefits, Retirement Plans

The Internal Revenue Service (IRS) has once again extended the temporary nondiscrimination relief for frozen defined benefit plans, now through 2020. Frozen pension plans are pension plans that have been closed to new participants but continue to provide ongoing benefit accruals for certain participants. This extended relief is intended to enable frozen pension plans to...

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Employee Benefit Plans Master Trust Investments – Financial Statement Changes


By and on Jun 20, 2019
Posted In Employee Benefits, Fiduciary and Investment Issues, Health and Welfare Plans, Retirement Plans

The Financial Accounting Standards Board (FASB) adopted changes to the required financial statement disclosures of employee benefit plans with investments in master trusts. The changes will standardize the content and presentation of information reported in plans’ financial statements. Learn about the six significant items the FASB guidance addresses. Access the full article.

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New Proposed Regulations Provide Helpful Guidance on Hardship Distribution Changes


By and on Nov 27, 2018
Posted In Employee Benefits, Retirement Plans

The IRS recently issued proposed amendments to regulations concerning 401(k) plan hardship distributions. The proposed regulations address changes to hardship distribution rules from the Bipartisan Budget Act of 2018 and other legislation. Though the regulations are only proposed, 401(k) plan sponsors should promptly consider these changes because decisions should be made on applying certain optional...

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Internal Revenue Service Outlines Critical Cybersecurity Safeguards to Protect Sensitive Data


By and on Oct 16, 2018
Posted In Employee Benefits, Health and Welfare Plans, Privacy and Data Security, Retirement Plans

The Internal Revenue Service and the Security Summit partners recently issued a news release outlining the “Security Six,” a list of essential steps to protect stored employee information on networks and computers. Employee benefits professionals, including those who administer welfare and retirement plans for employees and beneficiaries, should review and implement the “Security Six” in...

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New VCP Compliance Fees Will Increase the Cost of Correcting Some of the Most Common Plan Errors


By and on Feb 6, 2018
Posted In Employee Benefits, Retirement Plans

Last month, the Internal Revenue Service (IRS) published Revenue Procedure 2018-4, which modified the user fee schedule for submissions under the IRS’s Voluntary Correction Program (VCP). Under the new fee schedule, all VCP compliance fees are now based on the total net plan assets reported on a plan’s annual Form 5500-series return. This means that...

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Congressional Tax Reform Efforts May Impact Retirement Plan Sponsors


By , and on Dec 12, 2017
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Retirement Plans

On Saturday, the Senate passed its version of the Tax Cuts and Jobs Act. The process of reconciling the House and Senate versions of the bill has already begun in earnest. Currently, the retirement-plan-related changes included in each version of the bill still differ in many respects, and it is unclear which (if any) changes...

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