The ESOP Association
ESOP Association Resources
Chapter News, Resource
Jul. 31
Recap of chapter activities at Annual Conference; new Congress and new ESOP bill.
551
Jun. 06
After a concerted effort, Congress and the Administration are persuaded to improve the 1996 Subchapter S ESOP Law, and beginning in 1998 it becomes allowable for Subchapter S Corporations to sponsor an ESOP. Previously, S-corporations could not sponsor ESOPs because qualified retirement plans could not own stock in the sponsoring company.
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