In this month’s jam packed issue: TEA talks Employee Ownership Month, the recent petition filed with the Department of Labor, and several events and updates for the Employee Ownership Foundation, including ESOPATHON! Also don’t miss the EOM poster contest winner, an AACE Awards update, and Edmunson Scholarship recipients.
The ESOP Association
ESOP Association Resources
Sep. 22
Washington, D.C. – The ESOP Association (TEA) today exercised its rights under the Administrative Procedure Act to petition the U.S. Department of Labor (DOL) to undertake a long-delayed rulemaking essential to the formation and ongoing operation of ESOPs. Since 1974, the Department of Labor has steadfastly refused to fulfill requirements of the Employee Retirement Income Security Act (ERISA) in violation of Congressional direction and stakeholders’ rights under the Administrative Procedure Act (APA).
Sep. 22
The ESOP Association (TEA), the national trade association representing companies with Employee Stock Ownership Plans (ESOPs) and ESOP professionals, today exercised rights under the Administrative Procedure Act to petition the U.S. Department of Labor (DOL) to undertake a long-delayed rulemaking essential to the formation and ongoing operation of ESOPs.
Feb. 23
The February ESOP Report is packed with content. The ESOP Report is a member benefit. If you, or someone you know, would like to receive a copy of the ESOP Report please join The ESOP Association.
Feb. 02
Des Moines Iowa, February 2, 2022 – Iowa Governor Kim Reynolds today visited Library Binding Services (LBS Inc.), a 100% Employee Owned business, to promote a plan that would eliminate state taxes for retirement plans, including ESOPs, and would encourage more Iowa business owners to sell their businesses to their employees as a retirement succession plan.
ESOP Blog, Resource
Mar. 14
For the second year in a row, corporate members of The ESOP Association appear to be managing their expenses extremely well, with resulting positive effects on profits and stock value.
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, President's Page, Velazquez, Chabot, Minor Beneficiaries
Mar. 01
Pro-ESOP bill H.R. 5236 is passed quickly, unanimously by House committee.
Chapter News, Resource
Jan. 31
Review of 2017 government relations efforts.
ESOP Blog, Resource
Jan. 31
I am hearing increasingly from certain thought leaders that current ESOP laws do not create “good” employee ownership plans.
Anytime we ESOP advocates encounter someone who takes such a view of ESOPs, we need to ask ourselves, “Why does that person think ESOPs are not good employee ownership plans?” When we know the answer, we can counter the ESOP cynic’s point of view.
In my experience, there are three main criticisms of ESOPs. I’ll deal with each one in a separate blog post.
The first criticism maintains that ESOPs are bad retirement plans.
Anytime we ESOP advocates encounter someone who takes such a view of ESOPs, we need to ask ourselves, “Why does that person think ESOPs are not good employee ownership plans?” When we know the answer, we can counter the ESOP cynic’s point of view.
In my experience, there are three main criticisms of ESOPs. I’ll deal with each one in a separate blog post.
The first criticism maintains that ESOPs are bad retirement plans.