The ESOP Association
ESOP Association Resources
Jun. 28
Welcome to the June issue of the ESOP Report - find the latest ESOP news, tips, topics, and more!
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Jun. 24
Senator Van Hollen is a strong supporter of ESOPs and it was our pleasure to host him at the International Employee Ownership Center for an event. Employee owners in Maryland should be proud of his advocacy on their behalf.
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Jun. 23
Employee ownership is continuing to see support in Congress, coming off two huge wins in the U.S. Senate. This time the House Appropriations Committee is considering a bill that would continue to direct the Small Business Administration to act in support of employee ownership. This effort continues the drumbeat in Congress, led by The ESOP Association, supporting employee ownership. Details are below.
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Jun. 22
Senate Finance Committee passes the Enhancing American Retirement Now (EARN) Act, which includes a provision partially expanding section 1042 tax deferral to ESOPs that are S-corporations. The EARN Act section 1042 provision matches a similar provision in the Securing a Strong Retirement Act (H.R 2954) which passed the House of Representatives in March. The bill passed the Senate Finance Committee with unanimous support.
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Jun. 17
The Senate Finance Committee today released a summary of the Enhancing American Retirement Now (EARN)
Act that includes a provision partially expanding section 1042 tax deferral to ESOPs that are S-corporations. Expanding section 1042 tax treatment to S-corporations has been a top priority of The ESOP Association’s advocacy efforts for many years and has been a focus of recent advocacy days and grassroots advocacy campaigns, including at TEA’s National Conference for the last 2 years.
Act that includes a provision partially expanding section 1042 tax deferral to ESOPs that are S-corporations. Expanding section 1042 tax treatment to S-corporations has been a top priority of The ESOP Association’s advocacy efforts for many years and has been a focus of recent advocacy days and grassroots advocacy campaigns, including at TEA’s National Conference for the last 2 years.
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Jun. 14
The United States Senate Health, Education, Labor, and Pensions (HELP) Committee has passed S. 4353, the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE and SHINE) Act, which includes significant provisions that promote ESOPs and require the U.S. Department of Labor (DOL) to provide regulatory guidance the Association has been seeking for more than four decades.
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Jun. 07
Comment Letter Forewarns against Future Use of Proposed New Regs Against ESOPs; Requests the Department hold Public Hearings
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Jun. 02
New legislation, titled the RISE and SHINE Act, is expected to be introduced into the U.S. Senate with significant provisions that promote ESOPs and requires the U.S. Department of Labor to provide long-needed regulatory guidance.
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Jun. 01
Inside this Issue:
Message from the President
OH/KY Chapter Spring Conference Recap
TEA National Conference in DC Recap
Meet Your OH/KY Chapter Officers
New Member Highlight
Thank Our Sponsors
Pricing Power is Critical in Inflationary Environments
Message from the President
OH/KY Chapter Spring Conference Recap
TEA National Conference in DC Recap
Meet Your OH/KY Chapter Officers
New Member Highlight
Thank Our Sponsors
Pricing Power is Critical in Inflationary Environments
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Mar. 14
The Department of Labor proposes regulations that would make advisors to ERISA plans—including ESOP appraisers—fiduciaries under ERISA. A grassroots effort on Capitol Hill helps ensure the new regulations would not adversely affect ESOPs and the “fiduciary rule” is rejected.
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