Advocate

ESOP Bulletin

For additional commentary on issues impacting your ESOP, visit The ESOP Association's YouTube Channel.

2014

April 3, 2014 - J. Michael Keeling, president of The ESOP Association gives an update following the oral arguments presented to the Supreme Court on Wednesday, April 2, 2014 in the case of Fifth Third Bancorp, et al., v. John Dudenhoeffer, et.al. Watch the government affairs update on the case.

March 10, 2014 - ESOP Association President, J. Michael Keeling, provides Association members with an update on the Administration's FY 2015 Budget and the impact on the ESOP community. Watch the March 2014 government affairs update.

March 4, 2014 -
The ESOP Association expressed disappointment once more over a provision in the President’s Fiscal Year 2015 budget that pertains to ESOPs. Read the release.

February 28, 2014 -
With the release of the Tax Reform Act of 2014, ESOP Association President, J. Michael Keeling, provides Association members with an update on the proposed legislation and where ESOPs stand. Watch the February 28, 2014 Tax Reform Update.

February 12, 2014 -
ESOP Association President, J. Michael Keeling, provides Association members with an update on tax reform and shares new information he has learned about the process and what ESOPs can expect. Watch the February 2014 Tax Reform Update.

February 3, 2014 -
On February 3rd, The ESOP Association submitted an amicus brief to the Supreme Court of the United States in reference to the case: Fifth Third Bancorp, et al., v. John Dudenhoeffer, et al. Read The ESOP Association's brief.

January 6, 2014
- In the first tax reform update of 2014, ESOP Association President, J. Michael Keeling, provides Association members with an update on tax reform and a new report from the Joint Committee on Taxation that discusses ESOPs. He also touches briefly on the ESOP case before the Supreme Court. Watch the January 2014 Tax Reform Update.

2013

December 18, 2013 -
On December 18, 2013, The ESOP Association submitted a statement to the Senate Committee on Finance pertaining to the December 18th hearing: The Role of Social Security, Defined Benefits, and and Private Retirement Accounts in the Face of the Retirement Crisis. Read the statement.

November 26, 2013 - Tax Reform Update, November 2013

September 24, 2013 - DOL Update, September 2013

September 4, 2013 -
Tax Reform Update, September 2013

August 2, 2013
- Tax Reform Update, August 2013

July 17, 2013

On July 17, 2013, ESOP Association President J. Michael Keeling, will participate in the Senate Small Business Committee Tax Roundtable which will review key provisions of current tax law that impact small businesses. In particular, Mr. Keeling will be responding to the Committee’s specific inquiry as to what current tax laws that encourage the creation and operation of employee ownership through the ESOP model should be retained.
To read his statement, click here.
To read the press release, use this link.

July 9, 2013
Message to Help Save ESOP Tax Law  - Download the sample letter/email/phone message here.

July 3, 2013
ESOPs Threatened – Will Senate protect ESOPs?

June 14, 2013

Senator Kelly Ayotte speaking to The ESOP Association's New England Chapter's Super Regional Board of Directors/Trustees Conference

May 31, 2013
Advocacy Update -
ESOP Association President, J. Michael Keeling provides members with an update on tax reform

May 24, 2013
Advocacy Update
- Notice of Deadline May 31 for Comments on Proposed Exposure Draft Fair Value Measurement (Topic 820). Click here for information on the FASB proposed update.

May 20, 2013
Advocacy Update
- New Pro-ESOP Bill Introduced in the House of Representatives, H.R. 2041. Click here to read the full update. Click here for a suggested letter to your member of Congress.

April 22, 2013

Advocacy Update - Senator Sanders Questions Treasury Secretary Regarding ESOP Proposal in the President’s 2014 Budget. Click here to read the full update.

April 15, 2013
Advocacy Update -
President’s Budget Says ESOPs Too Risky and Bad for Employees!
The ESOP Association sent this message to members today regarding a provision in the President's Budget that would reverse Executive Branch support for ESOPs. Click here to read the update.

March 21, 2013
On March 21, 2013, The ESOP Association submitted comments to the House Ways and Means Committee on Tax Reform. To view the Association's comments, click here.

February 13, 2013
Senator Kelly Ayotte Renews Work to Protect Employee Ownership: Introduces Pro-ESOP Bill, S. 273

2012

April 20, 2012

The ESOP Association Submits Statement to House Ways and Means Committee on Tax Reform and Tax Favored Retirement Accounts
On April 20, 2012 The ESOP Association submitted a statement to the House Ways and Means Committee which held a hearing on Tax Reform and Tax Favored Retirement Accounts. To read the statement submitted by The ESOP Association, click here.

March 7, 2012
The ESOP Association Submits Comments to House Ways and Means Committee on Tax Reform

Click here to download a copy of The ESOP Association’s submission to the Ways and Means Committee

February 22, 2012
President Obama’s Corporate Tax Reform Proposal Negative Towards ESOPs, Especially S ESOPs, Reports The ESOP Association 

February 14, 2012
ESOP Association Welcomes Clarification of ESOP Tax Provision in President Obama’s FY 2013 Budget

2011

September 19, 2011
ESOP Bulletin --- DOL Backs Off Proposed Fiduciary Regulation; To Issue New Version in Early 2012 BUT Game Not Over!

On September 15, 2011 The ESOP Association submitted comments to the Senate Finance Committee on Tax Reform and Retirement Security. To read the statement submitted by The ESOP Association, click here.

July, 2011
ESOP Legislative Bulletin --- Congressional Hearing Confirms DOL Proposal to Make Appraisers of ESOP Stock is Not to Stop “Rogue,” “Fly by Night,” Unqualified Appraisers, but Mainstream ESOP Appraisers, One of Whom Probably Appraises Your ESOP Stock!

On July 26, 2011, The ESOP Association submitted a statement for the record to the House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions which held a hearing examining the impact of the Department of Labor’s proposed rule on the definition of a fiduciary on the retirement community.  To read the Association’s statement for the record, click here.

June, 2011
ESOP Legislative Bulletin – Senator Kelly Ayotte Introduces Pro-ESOP Bill S. 1232 to modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to exclude appraisers of employee stock ownership plans

ESOP Legislative Bulletin --- Pending Amendment in Senate to Stop Department of Labor's (DOL) Regulatory Attack on ESOPs

April, 2011
ESOP Legislative Bulletin --- DOL Campaign: Not Winning: ESOP Community Needs to Be Active

March, 2011
ESOP Legislative Bulletin --- Pro-ESOP Bill Introduced in U.S. House of Representatives

Update on DOL Proposed Rule Negative to ESOP Companies

February, 2011
The ESOP Association Submits Comments to the Department of Labor on the Proposed Regulation, “Definition of the Term Fiduciary”

January, 2011
The ESOP Association Submits Comments to House Ways and Means Committee on Tax Reform

2010

December, 2010
DOL to Hold Public Hearing on Proposed Rule Mandating Valuators of Private ESOP Companies be Fiduciaries

Why the Department of Labor’s Proposed Regulation Will Harm Private Company ESOP