The ESOP Association
ESOP Association Resources
Feb. 28
Welcome to your February issue of the ESOP ReportThis 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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Feb. 27
The U.S. Senate Committee on Health, Education, Labor & Pensions (HELP) today voted to advance Lori Chavez-DeRemer’s nomination for Secretary of Labor to the full Senate. The HELP Committee approved Chavez-DeRemer’s nomination in a bipartisan vote of 13-9, with Democratic Senators Maggie Hassan (NH), John Hickenlooper (CO), and Tim Kaine (VA) voting in favor and Republican Senator Rand Paul (KY) opposed. Her nomination will now advance to the full Senate where a vote could come as soon as next week.
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Feb. 12
President Donald Trump today nominated Daniel Aronowitz, President of Encore Fiduciary and a leading expert with thirty years of experience on fiduciary issues, to be Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA) at the U.S. Department of Labor. If confirmed, Aronowitz would be the lead regulator for ESOPs at the Department of Labor, as EBSA is tasked with administration and enforcement under ERISA.
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Feb. 11
The ESOP Association, the only comprehensive national trade association representing businesses owned fully or partially by an Employee Stock Ownership Plan (ESOP), launched a targeted paid media campaign this week in support of Lori Chavez-DeRemer’s confirmation to be Secreatary of Labor. The campaign will be sustained through her confirmation vote.
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Feb. 29
Welcome to your February 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!
Inside this Issue:
Inside this Issue:
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Feb. 27
During a ceremony on December 19th at DVL Group’s Bristol headquarters, Gerald “Jerry” Mullery (Deputy Secretary, Compensation & Insurance, PA Department of Labor & Industry) presented Tony O’Hare (DVL’s Safety and Compliance Manager) with the 2023 Governor’s Award for Safety Excellence (GASE), on behalf of the Pennsylvania Department of Labor & Industry. O’Hare accepted the award on behalf of DVL.
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Feb. 22
Framework Provided to Dept. of Labor, Congress, and White House as a Model for Fair, Transparent Regulation to Grow ESOPs While Safeguarding Employee Interests
Model Regulation is Work Product of Effort by Leading ESOP Experts and Vetted by Key Stakeholders Across Valuation, Legal, Finance, and Trustee Disciplines
Model Regulation is Work Product of Effort by Leading ESOP Experts and Vetted by Key Stakeholders Across Valuation, Legal, Finance, and Trustee Disciplines
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Feb. 22
Communication is incredibly important to help employee owners understand both the financial benefit of the ESOP and shared ownership culture. But when you look around at your company, you may see a multigenerational workforce with varying degrees of knowledge – and comfort – with the ESOP and financial terms.
So how can you effectively communicate the value of the ESOP, and ultimately strengthen your company’s ownership culture, when you have a multi-generational workforce? Here are a few key steps that we’ve seen work in a variety of industries.
So how can you effectively communicate the value of the ESOP, and ultimately strengthen your company’s ownership culture, when you have a multi-generational workforce? Here are a few key steps that we’ve seen work in a variety of industries.
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Feb. 20
Advisors have seen a dramatic uptick in the number of conversations ESOP clients are having around mergers and acquisitions (“M&A”) in the past few years.
You might ask what is meant by M&A. The concept is broad and the meaning may be different depending on each company’s situation and needs. Experience shows that ESOP companies historically think of M&A in terms of others acquiring their company either by solicitation or responding to bids from potential acquirers.
You might ask what is meant by M&A. The concept is broad and the meaning may be different depending on each company’s situation and needs. Experience shows that ESOP companies historically think of M&A in terms of others acquiring their company either by solicitation or responding to bids from potential acquirers.
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Feb. 16
In 1986 The ESOP Association’s Board of Directors adopted a change to the bylaws allowing for the organization of subgroups under its legal charter and non-profit recognition. Article VIII, Section 1 of The ESOP Association by-laws provide for groups organized in state or regional areas that are known as “State” or “Regional” Chapters of The ESOP Association. This change allowed for the development of our current structure of 19 chapters across the United States.
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