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Progress on Two ESOP Bills in Congress

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

An Employee Stock Ownership Plans (ESOPs) become more popular in the U.S., employee ownership legislation is making its way through Congress to broaden the appeal of these unique benefit plans. Two bills, one in the House and one in the Senate, have recently made it through the Small Business Com...

ESOPs for Sports Companies in San Diego

Posted by Corey F. Schechter | May 07, 2018 | 0 Comments

In a Union-Tribune article, San Diego was listed as number 2 in employment in active lifestyle-oriented businesses in the country. There are now more than 1,200 such companies in the area employing more than 23,000, making an economic impact of over $1.4 billion. Some of these sporting and lifest...

Are ESOPs Right for California Breweries?

Posted by Marc S. Schechter | Apr 17, 2018 | 0 Comments

ANSWER: The San Diego area is renowned as the headquarters of more than 150 breweries, earning it the nickname of the “Craft Beer Capitol” of the U.S. However, while many brewery owners can explain the nuances of lautering and even wax poetic about fermentation techniques, they may feel out of th...

Ending an Employee Stock Ownership Program

Posted by Marc S. Schechter | Mar 22, 2018 | 0 Comments

Employee ownership is associated with tax savings, increased production, and higher employee retention rates. However, employee ownership is not always the best fit for some companies. Business owners should be prepared for the possibility that they may have to freeze or terminate an ESOP and rev...

Can your San Diego business benefit from an ESOP?

Posted by Corey F. Schechter | Mar 21, 2018 | 0 Comments

Many business owners are still relatively unfamiliar with ESOPs. As the number of Employee Stock Ownership Programs continue to grow, companies are looking into the benefits of an ESOP. An Employee Stock Ownership Plan (ESOP) is a profit sharing plan structured as a qualified defined contributio...

Changes to the IRS Voluntary Correction Program

Posted by Paul D. Woodard | Mar 05, 2018 | 0 Comments

One of the important benefits to companies in establishing a retirement plan for its employees is the tax-favored status granted to a 401(k), 403(b), SEP, or SIMPLE IRA. This includes deducting employer contributions to such employee plans. However, in order to maintain tax-favored status, the pl...

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...

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