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
Jun. 28
Welcome to the June issue of the ESOP Report - find the latest ESOP news, tips, topics, and more!
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Jun. 24
Senator Van Hollen is a strong supporter of ESOPs and it was our pleasure to host him at the International Employee Ownership Center for an event. Employee owners in Maryland should be proud of his advocacy on their behalf.
1653
Jun. 23
Employee ownership is continuing to see support in Congress, coming off two huge wins in the U.S. Senate. This time the House Appropriations Committee is considering a bill that would continue to direct the Small Business Administration to act in support of employee ownership. This effort continues the drumbeat in Congress, led by The ESOP Association, supporting employee ownership. Details are below.
1652
Jun. 22
Senate Finance Committee passes the Enhancing American Retirement Now (EARN) Act, which includes a provision partially expanding section 1042 tax deferral to ESOPs that are S-corporations. The EARN Act section 1042 provision matches a similar provision in the Securing a Strong Retirement Act (H.R 2954) which passed the House of Representatives in March. The bill passed the Senate Finance Committee with unanimous support.
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