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.

This key position at the Department of Labor was created with bipartisan and bicameral support by the Worker Ownership, Readiness and Knowledge (WORK) Act to help advance and promote employee ownership. Employee Ownership is a proven way to increase community and retirement wealth while protecting American jobs from outsourcing and foreign ownership.

Our membership sees this position as critical within the Department to help illustrate and advance the many benefits of employee ownership to business owners considering an exit strategy.  

We look forward to working with the new Labor Secretary and key departments to ensure all elements of the WORK Act are fully implemented, including an end to the DOL’s war on ESOPs and their trustees that has denied millions of Americans the opportunity to own an interest in the place where they work.