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ESOPs: Legislative Updates

Posted by Marc S. Schechter | Feb 21, 2018 | 0 Comments

For anyone watching the latest in Employee Stock Ownership Plans (ESOP), there has been a lot of legislative action taking place at the federal and state level in recent months. Politicians on both sides have been promoting ESOPs as a way to increase economic growth and opportunity for employees ...

ESOPs in the Craft Beer Industry

Posted by Marc S. Schechter | Feb 09, 2018 | 0 Comments

San Diego has become a center of craft brewing. With more than 150 breweries, San Diego has been called the Craft Beer Capital of America. This includes some of the countrys first craft breweries like Karl Strauss and Pizza Port, as well as some of the largest and most popular beer brands like B...

PBGC's Missing Participants Program

Posted by Corey F. Schechter | Feb 08, 2018 | 0 Comments

Most pension plans offer defined benefits for participants at the time they retire. However, over time, many plan participants move multiple times for a new job or to downsize in retirement. This can leave the pension plan without the current contact information for plan participants and leave in...

Employee Benefit Plan Best Practices

Posted by Corey F. Schechter | Jan 29, 2018 | 0 Comments

With the new Department of Labor fiduciary rules further pushed back to go into effect on January 1, 2019, plan fiduciaries have more time to review employee benefit plan best practices. Employee benefit plan best practices include a review of who is involved in what role, the plan administrator...

Employee Benefits Changes in 2018

Posted by Paul D. Woodard | Jan 26, 2018 | 0 Comments

With each New Year comes the inevitable changes to employee benefits that affect plan sponsors, administrators, and participants. These changes can involve adjustments to the individual plan benefits, plan eligibility, and new state and federal laws. Employers and plan administrators should revie...

ESOP Benefits for Defense Contractors

Posted by Paul D. Woodard | Dec 28, 2017 | 0 Comments

Many defense contractors are turning towards employee-ownership as a way take advantage of tax savings and reward employees by giving them a stake in the company they work for. Specifically, many defense contractors are utilizing employee stock ownership Plans (ESOPs) as a way to provide owners w...

The Benefits of Mediation in ERISA Claims

Posted by Corey F. Schechter | Dec 11, 2017 | 0 Comments

Employers involved in an ERISA dispute can face a long road of litigation, and the time and expenses that go along with it. Many ERISA claims filed by former employees have a very low chance of success but that does not eliminate the need for the employer to put in the time and money to fight the...

Using a Benefits Plan to Attract Top Talent

Posted by Corey F. Schechter | Dec 04, 2017 | 0 Comments

The unemployment rate across the country remains low, dropping to 3.7% in San Diego County in October. This low unemployment rate has made it difficult for many employers to find the workers they need to keep their businesses growing. Employers who are unable to compete with higher salary offers ...

Tax Savings When Setting Up an Employee Benefits Plan

Posted by Paul D. Woodard | Nov 29, 2017 | 0 Comments

There are a number of benefits to setting up an employee retirement plan for both employers and employees. This includes the ability to attract top talent and incentivize current employees to stay with the company to maximize their benefits. However, one of the most compelling reasons employers s...

ERISA Mediation Tips for Employers

Posted by Corey F. Schechter | Nov 28, 2017 | 0 Comments

Some employers dread mediation because it is the first time they have to come face-to-face with a disgruntled employee. An employee may use this meeting as a chance to unload all of their complaints of how they were mistreated, rather than focus on the ultimate issue of a possible ERISA violation...

The Benefits of Being an Employee Owned Company

Posted by Paul D. Woodard | Oct 30, 2017 | 0 Comments

An Employee Stock Ownership Plan (ESOP) is a qualified defined contribution retirement plan that primarily invests in common company stock. These shares are held in an ESOP trust until the employee leaves the company or retires. At that point, the shares are bought back by the company. Many clos...

ESOP Fiduciaries Liable for Overvalued Stock

Posted by Paul D. Woodard | Oct 17, 2017 | 0 Comments

In general, Employee stock ownership plans (ESOPs) can be a benefit to owners, employees, and the company overall. ESOPs provide a unique way for employees to gain an ownership interest in their company and set aside retirement savings. However, ESOPs can also present some problems and complicati...

Department of Labor ESOP Fiduciary Investigations

Posted by Corey F. Schechter | Oct 10, 2017 | 0 Comments

Department of Labor (DOL) investigations into fiduciary breaches in ESOPs can result in significant civil liability, penalties, and even possible criminal charges. The majority of these investigations are triggered by civil lawsuits, whistleblowers, or participant complaints, but a small handful ...

Lawsuits Targeting 403(b) Plan Fiduciaries

Posted by Paul D. Woodard | Sep 29, 2017 | 0 Comments

A 403(b) plan derives its name from the Internal Revenue Code (IRC) Section 403. 403(b) plans are generally only available for certain employees of public schools, employees of cooperative hospital service organizations, employees of 501(c)(3) organizations, and certain ministers. A 403(b) retire...

Risks of Non-ERISA 403(b) Plans

Posted by Paul D. Woodard | Aug 29, 2017 | 0 Comments

A 403(b) plan is named after the Internal Revenue Code (IRC) Section 403, which details the plan. Essentially, a 403(b) plan is a retirement plan that allows employees to make contributions on a pre-tax basis, similar to a 401(k) plan. 403(b) plans sponsored by governmental and public education e...

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