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The ESOP Association

ESOP Association Resources

Mar. 01
Legislation Eliminating Iowa Retirement Income Tax, Including ESOPs, Signed Into Law
Des Moines Iowa, March 1, 2022 –Today Iowa Governor Kim Reynolds returned to Library Binding Services (LBS Inc.), a 100% employee-owned business, to sign into law legislation to eliminate state taxes on retirement income, including taxes on Employee Stock Ownership Plans (ESOP) distributions.  This important change has the power to motivate more Iowa business owners to sell their businesses to their employees as a business succession plan. 
Sep. 02
1974 - Modern ESOPs Are Born
The Employee Retirement Income Security Act (ERISA) passes to address public concern that private pension plan funds were being mismanaged, and officially recognizes employee stock ownership plans (ESOPs). While employee ownership and equity (stock) plans have existed prior to this point, ERISA launches them formally as qualified retirement plans (QRPs) under federal law thereby subjecting them to regulation by the U.S. Department of Labor and the IRS.