ESOP Advocacy Issues
For decades Employee Stock Ownership Plans have received unprecedented bipartisan and bicameral support in Congress. This is only possible because of the tireless work of our passionate community. However, there are some fundamental issues that our community must rally around if we want to continue to grow and thrive in the years to come.
Current ESOP Advocacy issues
As with all qualified employee benefit plans, ESOPs are governed by the Employee Retirement Income Security Act of 1974 (“ERISA”).
To ensure equitable representation of historically disadvantaged groups, Congress has provided for programs to support businesses owned by minorities, women, veterans, and other groups.
All defined contribution plans, including employee stock ownership plans (ESOPs), must provide a benefit statement to each participant annually.
Latest Advocacy News
Senate Appropriations Committee Includes Funding for Employee Ownership Initiative in FY26 Labor, Health and Human Services, Education, and Related Agencies Funding Package
Senate Appropriations Committee Includes Funding for Employee Ownership Initiative in FY26 Labor, Health and Human Services, Education, and Related Agencies Funding Package
On July 31, the U.S. Senate Committee on Appropriations passed the Fiscal 2026 Labor, Health and Human Services, Education, and Related Agencies (LHHS) Appropriations Act in a strongly bipartisan vote of 26-3.
Head of DOL’s Division of Employee Ownership Reinstated
Head of DOL’s Division of Employee Ownership Reinstated
The ESOP Association has been informed that the chief of DOL’s Division of Employee Ownership, Hilary Abell, has been reinstated, effective Monday, March 10. TEA is grateful to the Trump Administration for this rapid decision.
Senate Committee Approves Lori Chavez-DeRemer’s Nomination for Secretary of Labor
Senate Committee Approves Lori Chavez-DeRemer’s Nomination for Secretary of Labor
The U.S. Senate Committee on Health, Education, Labor & Pensions (HELP) today voted to advance Lori Chavez-DeRemer’s nomination for Secretary of Labor to the full Senate.
President Trump Nominates Longtime Fiduciary Expert Daniel Aronowitz to Lead Employee Benefits Security Administration at DOL
President Trump Nominates Longtime Fiduciary Expert Daniel Aronowitz to Lead Employee Benefits Security Administration at DOL
President Donald Trump today nominated Daniel Aronowitz, President of Encore Fiduciary and a leading expert with thirty years of experience on fiduciary issues, to be Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA) at the U.S. Department of Labor.
White House Announces Pause on Biden Administration Regulations That Have Not Been Finalized
White House Announces Pause on Biden Administration Regulations That Have Not Been Finalized
In one of the first actions of the Trump presidency, the White House has announced a pause on all proposed regulations from the Biden Administration that have yet to be finalized. The moratorium effectively freezes pending Executive Branch agency regulations.