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.
New Hurricane Legislation Grants Additional Distribution, Withdrawal and Loan Relief for Certain Retirement Plan Participants
By Alan D. Nesburg, PC, Diane Morgenthaler, Ruth Wimer and Stephen Pavlick on Nov 9, 2017
Posted In Employee Benefits, Retirement Plans
The new Disaster Tax Relief and Airport and Airway Extension Act of 2017 provides additional relief and flexibility for retirement plan participants impacted by recent hurricanes, including relaxed rules for plan distributions, withdrawals and loans. Continue reading.
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McDermott Announces Determination Letter Replacement Program, Addressing the Gap in Retirement Plan Compliance
By Brian Tiemann, Diane Morgenthaler, Jeffrey Holdvogt, Jacob Mattinson, Joseph K. Urwitz, Kay Kemp, Lisa Loesel, Maggie McTigue , Mary K. Samsa, Sarah L. Engle, Allison Wilkerson, Alan D. Nesburg, PC, Andrew Liazos, McDermott Will & Emery and Todd Solomon on Oct 10, 2017
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
Since the announcement by the Internal Revenue Service (IRS) that sponsors of individually designed retirement plans may no longer receive a periodic determination letter, plan sponsors have faced uncertainty about how to demonstrate compliance for their retirement plans. Our McDermott Retirement Plan Compliance Program, a new opinion letter and operational review program for individually designed...
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DOL Significantly Increases Some Penalties for ERISA Violations
By Alan D. Nesburg, PC and Diane Morgenthaler on Dec 29, 2016
Posted In Retirement Plans
The US Department of Labor increased the penalties for specified violations of the Employee Income Retirement Security Act of 1974. Most of the penalty increases involve reporting and disclosure failures related to benefit plans and will be effective for penalties assessed after August 1, 2016, if the violation occurred after November 1, 2015. Read full...
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Final IRS Regulations Simplify Pension Plan Requirements for Partial Annuity Distributions
By Alan D. Nesburg, PC and Stephen Pavlick on Oct 12, 2016
Posted In Retirement Plans
The Department of Treasury and Internal Revenue Service issued final regulations addressing the minimum present value requirements for pension benefits payable partly as an annuity and partly in an accelerated form, usually a lump sum. With these regulations, Treasury and IRS take another step in promoting lifetime income alternatives for retirement plan participants with simplified...
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DOL Significantly Increases Some Penalties for ERISA Violations
By Alan D. Nesburg, PC and Diane Morgenthaler on Jul 26, 2016
Posted In Health and Welfare Plans, Retirement Plans
The US Department of Labor increased the penalties for specified violations of the Employee Income Retirement Security Act of 1974. Most of the penalty increases involve reporting and disclosure failures related to benefit plans and will be effective for penalties assessed after August 1, 2016, if the violation occurred after November 1, 2015. Under the...
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IRS Announces Additional Changes in Determination Letter Program
By Alan D. Nesburg, PC and Maggie McTigue on Feb 9, 2016
Posted In Employee Benefits, Employment, Retirement Plans
The Internal Revenue Service (the IRS) recently issued Notice 2016-03 (the Notice) addressing three topics and expanding on its earlier announcement of major changes in the determination letter program for individually designed retirement plans. The Notice will likely be followed by additional guidance from the IRS, addressing features of the determination letter program. Read the...
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Seventh Circuit Continues to Apply Federal Successor Liability Doctrine to Multiemployer Pension Plan Withdrawal Liability
By Alan D. Nesburg, PC and McDermott Will & Emery on Oct 2, 2015
Posted In Employee Benefits, Employment, Health and Welfare Plans, Retirement Plans
The U.S. Court of Appeals for the Seventh Circuit recently addressed the notice requirement of the federal successor liability doctrine where withdrawal from a multiemployer pension plan occurred after a sale of assets. Read the full article.
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IRS Announces Major Changes to Its Determination Letter Program for Individually Designed Retirement Plans
By Alan D. Nesburg, PC and Stephen Pavlick on Aug 4, 2015
Posted In Benefit Controversies, Labor, Retirement Plans
On July 21, 2015, the Internal Revenue Service (IRS) issued Announcement 2015-19 (the Announcement), which ends the five-year remedial amendment cycles for individually designed plans effective January 1, 2017. For remedial amendment cycles beginning after 2016, plan sponsors will no longer be able to apply for determination letters on their individually designed defined contribution and...
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IRS Updates EPCRS Correction Methods and Procedures
By Alan D. Nesburg, PC on Jun 10, 2015
Posted In Retirement Plans
The Internal Revenue Service (IRS) recently issued two updates which modify the Employee Plans Compliance Resolution System (EPCRS), which is the comprehensive system for correction of retirement plan failures. EPCRS now allows plans with automatic contribution features to use a new safe harbor to correct certain deferral failures, provides more flexible correction provisions on overpayments...
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