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Best Practices for ESOP Trustee and ERISA Compliance

Posted by Marc S. Schechter | Jun 03, 2019 | 0 Comments

In a recent Fourth Circuit case, an ESOP trustee was found to have caused the trust to overpay for corporate stock by almost $30 million. The court found that the trustee failed to comply with their fiduciary duty to act in the best interests of the ESOP participants. This case can be used as a...

How ESOPs Can Address Wealth Inequality

Posted by Marc S. Schechter | May 14, 2019 | 0 Comments

A new study from the Rutgers Institute for the Study of Employee Ownership and Profit Sharing has found that Employee Stock Ownership Plans (ESOPs) can reduce wealth inequality for low and moderate income families. The study found that employees, through education and investment, can increase...

American Craft Beer Week, May 13–19: Untapped ESOPs - Blood, Sweat & Beer: Why ESOPs & Breweries Go Hand-in-Hand

Posted by Marc S. Schechter | May 13, 2019 | 0 Comments

Brewery culture seems made for Employee Stock Ownership Plans (ESOPs). Breweries seek collaborators and innovators, and typically people want to work there long term and be part of the creation team for new brews. Without an ESOP, retirement can be difficult for workers, and could even close the brewery or change its structure altogether, depending on how the owners plan to retire. As many craft breweries are in the stages of their youth, their owners and founders may not yet have thought of a succession plan for their business, or developed contingencies to be employed in the event of a financial downturn.

It’s National Small Business Week!

Posted by Paul D. Woodard | May 06, 2019 | 0 Comments

It's National Small Business Week! The U.S. Small Business Administration (SBA) spotlights our nation's 30 million small businesses. Register for the FREE National Small Business Week Virtual Conference hosted online by the SBA on May 7-8 from 8:00 a.m. to 2:30 p.m. PT. You will hear from industr...

ESOPs for California Grocery Stores

Posted by Marc S. Schechter | May 03, 2019 | 0 Comments

Supermarkets and grocery stores are especially well-positioned for employee ownership. Three of the top 5 largest employee-owned companies are grocery stores. Employee stock ownership plans (ESOPs) can benefit privately-owned grocery stores in California, providing incentives for founders, owne...

Employee Ownership Over the Years

Posted by Marc S. Schechter | Apr 15, 2019 | 0 Comments

An article in the Harvard Business Review evaluating the performance of employee stock ownership plans (ESOPs) found that ESOP-owned companies generally have faster growth than non-employee owned companies, in part due to the added value of employee participation, having a stake in the compan...

Senators Introduce ESOP to Expand Employee Ownership

Posted by Marc S. Schechter | Mar 19, 2019 | 0 Comments

Senators introduced a bipartisan bill that would encourage employee stock ownership as a means of retirement savings for workers. U.S. Senators Pat Roberts (R-Kan.) and Ben Cardin (D-Md.) introduced Senate Bill 177 which would, in part, expand the creation of S Corporation ESOPs. Introduced o...

Benefits of an ESOP for Family-Owned Companies

Posted by Marc S. Schechter | Feb 28, 2019 | 0 Comments

Family-owned companies often take pride in the reputation they have built up over the years. However, at some point, the owners may need to step down from the company. The founders may want the next generation to follow in the family business but the majority of family-owned companies only la...

EBSA Enforcement for 2019

Posted by Corey F. Schechter | Feb 04, 2019 | 0 Comments

The Employee Benefits Security Administration (EBSA) enforces ERISA laws and regulations, including conducting civil and criminal investigations. EBSA enforcement of ERISA laws often results in recovering money from enforcement actions, voluntary fiduciary correction programs, abandoned plan ...

Can ESOPs Benefit Disadvantaged Communities?

Posted by Marc S. Schechter | Jan 28, 2019 | 0 Comments

Employee-ownership can benefit company owners and employees. A recent initiative is also exploring employee share ownership as an investment strategy in low-income communities. This includes discussing how employee-ownership could contribute to increased investment in designated Opportunity Z...

End of Year IRS Checklist for Plan Providers

Posted by Corey F. Schechter | Dec 10, 2018 | 0 Comments

Most retirement plans provided by employers have a tax-favored status to provide tax savings to both employers and beneficiaries. However, when a retirement plan does not continue to meet the necessary requirements, the plan can lose tax-favored status and end up costing plan providers. Employer...

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