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.
The ESOP Association
ESOP Association Resources
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).
May. 28
The emotional toll that the COVID-19 pandemic is having on Americans is becoming increasingly and alarmingly clear. New information suggests that ESOP companies may want to train an especially keen eye on the well-being of their employee owners.
May. 28
On May 15, 2020, the Small Business Administration (SBA) published a Loan Forgiveness Application that provides long awaited information regarding loan forgiveness under the Paycheck Protection Program (PPP). The PPP generally provides that borrowers are eligible for forgiveness of their PPP loans based upon certain qualifying expenses that arise during the eight-week period commencing on the date the loan was funded (which is known as the Covered Period).
May. 13
New funding options may exist for businesses, thanks to a new bill from the House and several potential modifications to existing federal relief programs.
May. 08
Companies that received PPP funds now have an extra week to decide if they should give them back.
May. 06
An agreement between Wilmington Trust and the DOL pays funds to ESOPs and includes costs for penalties and legal fees.
May. 04
In this special 24-page issue get ideas on managing in a crisis, help planning for the reopening of your workplace, news of TEA’s expanding advocacy efforts and member benefits, updates on new webinars, and more!
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.