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.
Mar. 30
ESOP companies can apply for greatly expanded federal financial assistance that may qualify for partial or full debt forgiveness. Read More
Mar. 26
See how the latest bill for COVID-19 relief, just passed by the Senate, can help ESOP companies grapple with the economic downturn.
Mar. 25
The ESOP Association today sent a letter to the Secretary of Labor asking for emergency plan flexibility, regulatory guidance, and investigatory relief for active or new routine EBSA investigations.
ESOP Association President & CEO Jim Bonham specifically requested that DOL:
ESOP Association President & CEO Jim Bonham specifically requested that DOL:
Mar. 23
In votes held last night and today, the Senate was unable to move forward on a proposed multi-trillion dollar “Phase 3” piece of legislation that would provide a massive infusion of cash and loan relief for private sector businesses. The legislation is currently stalled over disagreements between Republicans and Democrats over the nature of corporate relief and its uses.
Mar. 19
These slide decks show the nation's response to COVID-19 in a quick, easy to read format.
Mar. 18
As Congress considers various aid packages for businesses negatively affected by the coronavirus pandemic, The ESOP Association is working to ensure the needs of the ESOP community are part of the discussion.
Mar. 17
H.R. 6201 would expand the Family and Medical Leave Act (FMLA), creating a new form of mostly paid job-protected leave for affected employees. It also would create a new form of immediately available, short-term paid sick leave. These provisions would take effect within 15 days of enactment by the President.
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