Bethesda, Maryland – June 26, 2014:  Nolan Financial, a leading provider of Nonqualified Retirement Plans, Bank Owned Life Insurance (BOLI) consulting, funding and record keeping services, launched its new responsive website design, http://www.nolanfinancial.com. (more…)

Pat Fergen, Human Resources Specialist, Avera McKennan Hospital & University Health Center

I am a Human Resources Specialist in the area of Compensation and Benefits. Kim Enebo, the director of Compensation and Benefits is my direct supervisor.

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Kim Enebo, Human Resources Director, Avera McKennan Hospital & University Health Center

We had been with a different supplemental/executive benefit provider, and the laws were getting more complicated. We were going to spend a lot of money for something that would allow us to comply with these new laws. When we were trying to get our arms around the new laws, I was introduced to Nolan Financial. To Mike Nolan, specifically. We described what we were currently doing, our concerns, the main one being needing to be compliant. And through conversations with Mike, we became very comfortable, very quickly, with how well he understood not only the previous laws but how to create a solution to be compliant as we moved forward.

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Bill McLean, Senior Vice President, Avera McKennan Hospital & University Health Center

We were in a relationship with another vendor. Their service was always very good, but their product was getting more expensive than we could justify. We just couldn’t make it work, so we decided to look for other alternatives. Someone who had worked with Mike referred Nolan Financial. (more…)

Patti Murzyn, Human Resources Specialist (retired), Lincoln Financial Group

In 1999, a gentleman at Lincoln Financial, a friend of Mike Nolan’s, was looking to move our deferred compensation plan from Wells Fargo to another firm. Mike came in and made the pitch, and after some other discussions, Lincoln Financial decided to go with Nolan. I was an administrator working in executive compensation at the time.

Deferred compensation had been handled in the benefits area, but was now moved to the executive comp area. I began handling small parts of the plan administration.

Up until October 2003, I had an administrative position where I worked on parts of the executive compensation plan. But because I had picked up a lot working with Nolan from 2000 on, I was offered a promotion to a rofessional position to manage the deferred compensation plan. I had just one week to work with the outgoing manager, and my new supervisor was knee deep in the new payroll system. (more…)

Karen Kanjian, Head of Compensation, Lincoln National Corporation

When I first came to Lincoln Financial and was given responsibility for the legal compliance side of our deferred compensation plans, I had never heard of Nolan. My first impulse was to move to a more prominent name-brand recordkeeper, one that I was familiar with from “big firm” life. This was based on the fact that the name-brand recordkeepers were familiar to me and I knew that they could handle all the tracking and reprogramming required by the new Jobs for Americans Act of 2004. (The Jobs Act is a statute that spells out the legal parameters for how to make deferral and distribution elections. There are, within those parameters, many different plan designs that comply. So part of the challenge is which plan design or features do you want for your population within the 5-8 ways you could design it.) (more…)

5 Essential Components of a Nonqualified Deferred Compensation Plan

 


TheIRS or Yours: Who Is Really Getting Relief?

 


Introduction / Problem

The harsh reality is that personal income tax levels for the highly compensated will more than likely be rising. Additionally, some personal income tax deductions will also be reduced or eliminated, making it even more difficult for the highly compensated to properly save for retirement. (more…)

Introduction

There was a recent article in Plan Advisor1 that examined an increasing trend in Requests for Proposals that bundled qualified and nonqualified plans. The driving force behind this trend comes from the plan sponsor’s desire to offer a user-friendly experience in which employees can access their qualified and nonqualified plans through a single vendor’s website.
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Problem

Every CEO/business owner wants his or her company to grow and become more profitable. For this to happen, a company must have the dedication and support of its key employees.

To increase loyalty and retention, key employees need to see and feel that they are making a significant contribution toward the organization becoming a larger and more profitable entity.

How can a CEO/owner accomplish this? (more…)

Introduction

In the lexicon of four letter words that continue to create consternation, Risk is one that we face on a daily basis. Oftentimes, we do not even consider the risks we take in our lives. While we will not be discussing risk in our home life, we will discuss risk in our business life. Indeed, it is very difficult to separate personal risk from business risk, but often the risk decisions we make in our business life trickle into our personal life. The reverse is equally true. There is and always will be a risk-reward continuum that governs all of us as we plan and execute our daily decisions.

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Retirement Planning

 


Introduction

A nonqualified deferred compensation (NQDC) plan is meant to be a retirement planning tool and not to be confused as a perquisite or excessive executive compensation. An NQDC plan is offered by the executive’s employer as a vehicle for him or her to offset the benefit accrual limits imposed by the government on 401(k) plans or other qualified pension plans. Oftentimes, the press will try to exploit the deferred compensation balance of an executive disclosed in the company’s proxy as another indication of excessive compensation being paid to the already highly compensated executive. What the press is obviously trying to ignore is the fact that this deferred compensation balance is nothing more than the executive’s own compensation which he or she elected to defer with the anticipation of supplementing their own company’s 401(k) or defined benefit pension plan.

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Making Nonqualified Plan Distributions Stretch: Distribution Options – What’s the Big Deal?

 


Change Is In The Air: A Focused Approach to Executive Attention in 2011

 


Planning Outside The Box With Nonqualified Executive Retirement Plans

 


Strategically Designed Nonqualified Executive Benefit Plans

 


Equity-Based Plans vs. Nonqualified Executive Benefit Plans

 


409A Corrections in 2010

 


Planning for NQDC Distributions May Avoid State Taxes

 


Pension Closeout Opportunities

 


A Challenge for The Times: Managing Your Nonqualified Plans in a Difficult Economy

 


Retirement Planning for Executives: “Are You on Your Own?”

 


Non-Qualified Executive Compensation Plans: The Transition Period Has Ended—Operating in a 409A Environment

 


Effective Executive Compensation: “The Common Sense Three-Legged Stool”

 


Executive Attraction and Retention: “The Right Solution”

 


(Nonqualified Plans): To Fund or Not to Fund? That is the Question

 


Chevy Chase, Maryland – January 9, 2014: Nolan Financial is pleased to announce the relocation of its national headquarters, effective February 3, 2014.  The company will remain just outside of Washington, D.C. and will be located at 6720-B Rockledge Drive, Suite 140, Bethesda, MD  20817. (more…)

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Chevy Chase, Maryland – December 9, 2013: Nolan Financial has successfully completed a SSAE 16 Type II Audit, which resulted in an unqualified report with the American Institute of Certified Public Accountants’ (AICPA). The SSAE-16 audit creates an international platform of required standards for multi-national public companies to easily assess vendors, business processes and overall viability of those companies. (more…)

Chevy Chase, Maryland – January 23, 2013: Nolan Financial has added new content on its website to provide valuable insight into its recordkeeping system and services.  The new page, Nonqualified Plan Technology, lists some of the unique features of Nolan Financial’s system and how these features can benefit clients.

While viewing the new page, be sure to watch the Participant and Plan Sponsor demonstration video. (more…)

Four Nonqualified Plan Trends To Watch With Tax Rate Increases

 


Chevy Chase, Maryland – January 14, 2013: Nolan Financial has successfully completed a SSAE 16 Type II Audit, which resulted in an unqualified report with the American Institute of Certified Public Accountants’ (AICPA). The SSAE-16 audit creates an international platform of required standards for multi-national public companies to easily assess vendors, business processes and overall viability of those companies. (more…)

Chevy Chase, Maryland – May 7, 2012: Nolan Financial Group, a leading provider of custom design and administration services for nonqualified deferred compensation plans, is pleased to announce two new additions to the Nolan Financial team. Mr. William H. Palmer joins Nolan Financial as a Senior Managing Director and Jennifer Bruce will hold the position of Regional Marketing Director.  Mr. Palmer and Ms. Bruce will focus on executive benefits in both the for-profit and tax-exempt sectors. (more…)

Chevy Chase, Maryland – April 17, 2012: Nolan Financial Group, a leading provider of custom design and administration services for nonqualified deferred compensation plans, announced the opening of a new office in Irvine, California as part of their strategic expansion. The opening comes on the heels of another new office recently opened in Dallas, Texas. (more…)

Chevy Chase, Maryland – March 5, 2012:  Nolan Financial Group, a leading provider of custom design and administration services for nonqualified deferred compensation plans, announced that in response to growing demand, it has established a plan administration office in Dallas, Texas.  The new location will create a strategic operations center to better respond to the needs of the firm’s growing national client base.  The new office, located in the uptown Dallas area, will extend the support of Nolan Financial’s core team of professionals, headquartered just outside the nation’s capital in Chevy Chase, Maryland.   (more…)

Chevy Chase, Maryland – January 10, 2012: Today Nolan Financial Group announced that, for the sixth consecutive year, its non-qualified plan administration unit received an unqualified SSAE -16 report within the American Institute of Certified Public Accountants’ (AICPA) internationally recognized auditing standard known as SSAE – 16 (Standards for Attestation Engagements No. 16). The examination is conducted annually by independent outside auditors and tests the effectiveness of a company’s internal controls.Nolan Financial’s receipt of an unqualified SSAE – 16 Report provides assurance to plan sponsors and their independent auditors of the effectiveness of Nolan Financial’s plan services control environment. This report eliminates the need for plan sponsors to incur the expense of testing these controls. (more…)

Chevy Chase, Maryland – January 10, 2012: Today Nolan Financial Group announced that, for the sixth consecutive year, its non-qualified plan administration unit received an unqualified SSAE -16 report within the American Institute of Certified Public Accountants’ (AICPA) internationally recognized auditing standard known as SSAE – 16 (Standards for Attestation Engagements No. 16). The examination is conducted annually by independent outside auditors and tests the effectiveness of a company’s internal controls. (more…)

On November 30, 2010, the IRS issued Notice 2010-80 (Modification to the Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a)). This NolanWIRE discusses the ameliorative relief, offering the most generous provisions, available only until December 31, 2010. Subsequently, less generous provisions will apply. In order to take advantage of the most generous provisions of the corrective relief available, the corrections must be made by December 31, 2010. (more…)

Chevy Chase, Maryland – November 19, 2010:  Nolan Financial Group today announced that, for the fifth consecutive year, its Non-Qualified Plan Administration Unit received an unqualified SAS-70 Type II Report within the American Institute of Certified Public Accountants’ (AICPA) internationally recognized auditing standard known as SAS-70 (Statement of Auditing Standards No. 70).  The examination is conducted annually by independent auditors in order to test the effectiveness of a company’s internal controls. (more…)

The Next Generation of Funding Alternatives for Nonqualified Plans

 


Chevy Chase, Maryland – March 22, 2010:  Michael E. Nolan, President & CEO of Nolan Financial, affiliated with Lincoln Financial Advisors Corp. presented a workshop at the American Society of Pension Professionals & Actuaries (ASPPA) annual summit held in Orlando from March 14-16, 2010.  Over 1,000 retirement sales and investment professionals attended this premiere event from across America, including Broker/Dealer Registered Representatives, Registered Investment Advisors, Plan Administrators (TPAs) and Product and Service Professionals. (more…)

409A Second Chances

 


Chevy Chase, Maryland – December 15, 2009: Nolan Financial today announced that for the fourth consecutive year its Non-Qualified Plan Administration Unit received an unqualified SAS-70 Type II Report within the American Institute of Certified Public Accountants’ (AICPA) internationally recognized auditing standard known as SAS-70 (Statement of Auditing Standards No. 70).  The examination is conducted annually by independent auditors in order to test the effectiveness of a company’s internal controls.  (more…)

Additional Analysis of the Executive Compensation Restrictions that Apply to TARP Companies

 


Chevy Chase, MD – Nolan Financial is pleased to announce the appointment of Mr. Sean Gautam to its Board of Directors.  Mr. Gautam is President of Intelligrity Capital Management, LLC and a published author on strategic investing.  Before founding Intelligrity Capital Management, Mr. Gautam served as Sr. Vice President and CFO of Nolan Financial from 1996 through 2006. (more…)

SEE THE CIRCULAR 230 DISCLAIMERS APPENDED TO THE CONCLUSION OF THIS WASHINGTON REPORT.

The Internal Revenue Service issued Notice 2009-49 to provide that equity purchases under the Troubled Asset Recovery Program (“TARP”) do not cause changes in control that would allow accelerated distributions for Revenue Code section 409A purposes. In taking this position, the IRS noted that to allow accelerated distributions following such government purchases would be inconsistent with the purposes of TARP and 409A. The notice provides that this position is effective for TARP equity purchases entered into on or after June 4, 2009. (more…)

Limitations on Terminating and Otherwise Changing Nonqualified Deferred Compensation Arrangements Subject to Code Section 409A

 


Chevy Chase, MD – Nolan Financial announces the release of a new Supplemental Benefits System that has been integrated into their existing nonqualified participant account website, NolanLink.com.

The new system has been designed to meet the specific needs of hospital and health care system clients and their plan participants in the ongoing administration of their 457(b) and 457(f) plans.

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