Welcome to your March Issue of the ESOP Report. This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
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Inside this issue:
The ESOP Association
ESOP Association Resources
Mar. 24
Executive Summary
On April 14, 2021, the DOL issued guidance on cybersecurity practices directed at plan sponsors, plan fiduciaries, record keepers, and plan participants. Cybersecurity has emerged as a growing concern in our personal and professional lives. The risks and associated costs of a cybersecurity incident are becoming increasingly central to company valuations as professionals look to find and measure potential threats faced by companies.
On April 14, 2021, the DOL issued guidance on cybersecurity practices directed at plan sponsors, plan fiduciaries, record keepers, and plan participants. Cybersecurity has emerged as a growing concern in our personal and professional lives. The risks and associated costs of a cybersecurity incident are becoming increasingly central to company valuations as professionals look to find and measure potential threats faced by companies.
1978
Mar. 17
It has been decades since we have seen the borrowing climate for deals change so sharply as it has recently outside of a recession. Financing for M&A and private equity transactions deteriorated dramatically through 2022, with third-quarter M&A financing down 70% from the previous quarter and buyout financing during the period less than half that completed in the first quarter.
1977
Mar. 10
Now ends the 2022 ESOP plan year and so begins a new year. With this annual cycle comes a myriad of contrasting economic, market, and other considerations that will influence new and existing ESOP valuations.
1976
Mar. 06
After several weeks of negotiations and sometimes very public political maneuvering, both the U.S. House of Representatives and the U.S. Senate have chosen their respective leaders and committee structures for the 118th Congress. Now that the dust has cleared and the business of Congress has begun, it is critical from an advocacy perspective to understand how ESOPs and the employee ownership community will be affected.
1987
Mar. 03
Recently, more than 60 volunteer leaders from TEA’s State and Regional Chapter Council (SRCC) journeyed to our nation’s capital for two days of strategic planning meetings at TEA headquarters in preparation for a busy 2023.
1975
May. 26
The ESOP Association has mobilized its advocacy teams to provide support for legislation that helps fund critically needed education and state centers for employee ownership. The amendment, sponsored by Kansas Senator Jerry Moran (R) and Vermont Senator Bernie Sanders (I) provides $50 million in spending authority over the next four years.
1376
May. 19
The ESOP Association encourages Congress to strengthen The Endless Frontier Act (S. 1260) by supplementing it with the bipartisan Sanders/Moran WORK Act Amendment, which provides critical resources to educate business owners about the benefits of employee ownership and the economic and competitive stability that flows from it. Business longevity and succession planning for the millions of current American businesses facing the retirement of their owners is an essential element to any long-term American competitive strategy.
1368
May. 19
Inaugural Public Policy Council Appointed
Group Will Help Lead Employee Ownership Policy at The ESOP Association
May 18, 2021, Washington, D.C. – The ESOP Association’s Board of Directors is proud to announce the inaugural members of its Public Policy Council (PPC), led by Executive Committee Chair Peter Ney of EA Engineering and eight other members of the of the Executive Committee.
1364
May. 05
Seeking to ride a wave of retiring business owners and the rising attention being given to employee ownership as a solution for wealth and income disparities, The ESOP Association is making a multi-year, multi-million dollar investment into government relations and public awareness.
1349