We are encouraged by news reports that President-elect Joseph Biden will nominate Isabel Guzman to lead the Small Business Administration (SBA). As the head of California’s Office of the Small Business Advocate, Guzman has gone on the record stating the important role ESOPs play in helping our nation retain millions of businesses that might otherwise close when their Baby Boomer owners retire—as many are expected to do in the next eight years.
The ESOP Association
ESOP Association Resources
Jan. 06
The ESOP Association congratulates Boston Mayor Marty Walsh on his reported nomination to the position of Secretary of Labor. Mayor Walsh has a history of engaging ESOP companies and encouraging employee ownership, and if he is confirmed, The Association looks forward to working with him and the Biden Administration to advance employee ownership.
Jan. 06
WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).
ESOP Blog, Resource
Jul. 31
You can never have too many friends in Congress. Politics is inherently changeable, and while it may seem that members of Congress have a job for life, in every session many are replaced—sometimes unexpectedly.
Some announce their retirement while others are defeated in primaries or elections. Some resign for health concerns and some leave for other factors entirely. Whatever the reason, a significant number of elected officials don’t return the following session.
Some announce their retirement while others are defeated in primaries or elections. Some resign for health concerns and some leave for other factors entirely. Whatever the reason, a significant number of elected officials don’t return the following session.
Chapter News, Resource
Jul. 31
Legislative meetings at Annual Conference; legislation update; legislative handouts.
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, President's Page, ESOP PAC, Former Employee
Jul. 01
The ESOP Association takes ESOP advocacy overseas.
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.
Resource, Press Releases
Jan. 21
For more than 28 years, Employee Ownership Month has been an opportunity for ESOP (employee stock ownership plan) companies across the nation to educate employee owners and the public about the undeniable benefits of employee ownership for employees, their companies, their communities, and the nation.
ESOP Blog, Resource
Jan. 17
For some time now, the data have shown that businesses with employee stock ownership are clearly better than conventionally owned companies at retaining employees. But new insights gleaned from existing research data show that, over a period of 12 years, businesses with employee stock ownership have gotten increasingly and dramatically better than conventionally owned firms at retaining employees.
How much better? Try 235 percent better!
How much better? Try 235 percent better!