The Consolidated Appropriations Act of 2023 (P.L. 117-328) includes the Worker Opportunity, Readiness and Knowledge (WORK) Act, sponsored by Senators Bernie Sanders (I-VT) and Jerry Moran (R-KS), which creates the Employee Ownership Initiative at the DOL to promote employee ownership and directs the DOL to provide formal guidance on the vital issue of properly valuing shares of company stock to be bought by an ESOP– a key rule long missing from the ESOP regulatory landscape. The law included new provisions allowing S corporation ESOPs limited use of section 1042 tax deferral.
The ESOP Association
ESOP Association Resources
Dec. 21
Happy Holidays from Your Friends at The ESOP Association!
The ESOP Report will return in early January 2023 with all the news, content, and announcements you expect from The ESOP Association.
The ESOP Report will return in early January 2023 with all the news, content, and announcements you expect from The ESOP Association.
Dec. 20
Congressional negotiators early this morning released the Consolidated Appropriations Act of 2023 which includes numerous top priority provisions sought by The ESOP Association on behalf of its membership.
Dec. 14
The ESOP Association released the following statement on the unexpected passing of Will Raap, a visionary leader in employee ownership, organic gardening, and locally sourced and sustainable food.
Dec. 07
The ESOP Association has been working with Congress during this congressional session on bipartisan retirement security legislation. That important legislation – which includes provisions that affect every ESOP and employee ownership in general – is being considered in the final days of the current Congress. If this bill, which was painstakingly negotiated and enjoys broad bipartisan support, doesn’t pass now, the entire legislative process must start over next year.
Employee Owned
Dec. 02
Thank you to the more than 2,000 employee owners and ESOP professionals who attended Employee Owned 2022 at Caesars Palace in Las Vegas!
Apr. 27
Today, during a Small Business Administration Budget Hearing, Rep. Dean Phillips (MN-3) engaged Administrator Isabel Guzman of the Small Business Administration on the issue of employee ownership. Rep. Phillips is a member of the House Small Business Committee who is a former businessman with a family history of employee ownership.
Apr. 26
Welcome to your April 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! As a benefit of your membership, you'll receive the ESOP Report in your inbox each month. Make sure to share with your colleagues and employee owners!
Apr. 22
On behalf of the more than 10.6 million American employee-owners with an ownership interest in an Employee Stock Ownership Plan (ESOP) company, The ESOP Association applauds Representative Young Kim of California, along with Reps. Jason Crow of Colorado, Dean Phillips of Minnesota, and Elise Stefanik of New York, for introducing a bipartisan “Golden-preneurship Act” in the House.
Apr. 19
Senator Bernie Sanders, Independent Senator from Vermont and ESOP supporter will be addressing the National Conference on May 5, 2022.
Senator Sanders, the longest standing Independent member of Congress, has represented Vermont in the US Senate since 2007. In his 3rd term in the Senate, he is currently the Chairman of the Senate Budget Committee, and a high-ranking member of the Senate Health, Education, Labor, and Pensions Committee, among other Senate committee assignments.
Senator Sanders, the longest standing Independent member of Congress, has represented Vermont in the US Senate since 2007. In his 3rd term in the Senate, he is currently the Chairman of the Senate Budget Committee, and a high-ranking member of the Senate Health, Education, Labor, and Pensions Committee, among other Senate committee assignments.