The ESOP Association
ESOP Association Resources
Jun. 05
President Trump’s Nominee for Assistant Secretary of Labor and Head of EBSA Signals Major Shift in Dep. Of Labor’s Posture Toward ESOPs During Confirmation HearingDuring his confirmation hearing today, Daniel Aronowitz, President Trump’s nominee to lead the Employee Benefits Security Administration (EBSA) as Assistant Secretary of Labor, signaled a sea change in how the Department of Labor (DOL) views ESOPs under this Administration. EBSA is the chief regulator of ESOPs at the DOL under the Employment Retirement Income Security Act (ERISA).
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Mar. 10
The U.S. Senate today confirmed Lori Chavez-DeRemer to be Secretary of Labor in a bipartisan vote of 67-32. Democratic Senators Bennet (CO), Cortez Masto (NV), Gallego (AZ), Hassan (NH), Hickenlooper (CO), Kaine (VA), Kelly (AZ), Klobuchar (MN), Ossoff (GA), Peters (MI), Rosen (NV), Schiff (CA), Shaheen (NH), Slotkin (MI), Warner (VA), Warnock (GA), and Whitehouse (RI) voted to confirm Chavez-DeRemer. She will formally be sworn into office on Tuesday March 11 during a ceremony at the White House.
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Mar. 07
The ESOP Association has been informed that the chief of DOL’s Division of Employee Ownership, Hilary Abell, has been reinstated, effective Monday, March 10. TEA is grateful to the Trump Administration for this rapid decision.This key position at the Department of Labor was created with bipartisan and bicameral support by the Worker Ownership, Readiness and Knowledge (WORK) Act to help advance and promote employee ownership. Employee Ownership is a proven way to increase community and retirement wealth while protecting American jobs from outsourcing and foreign ownership.
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Mar. 06
In this Issue:Letter from the PresidentSpring ConferenceValuation Q&ACompany MentorshipChapter LeadershipChapter Officer SpotlightSponsorship OpportunitiesChapter SponsorsRead the Issue >>
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Mar. 03
At a recent ESOP Association conference session on valuation issues, an ESOP company executive happened to remark, “Our annual valuation reports have never had a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).” One may not realize it, but such an analysis can take many forms which are used to assess a company’s risk.
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Mar. 03
Exciting news to share about Gemini Industries, a 100 percent employee-owned leading manufacturer of innovative wood coating solutions headquartered in El Reno, Oklahoma.In February, Gemini announced the acquisition of Diamond Vogel’s Industrial Wood business unit. This strategic milestone underscores Gemini’s commitment to advancing quality, innovation and service in the wood coatings industry.
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Mar. 03
The ESOP Association is thrilled to announce the release of its comprehensive ESOP Association Fiduciary Guidebook – a must-have resource for anyone involved in managing an ESOP. This comprehensive guide is designed to equip ESOP fiduciaries with the knowledge and tools they need to confidently navigate their responsibilities and ensure the success of their ESOP.
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Mar. 03
ESOPs are gaining momentum in state legislatures across the country, with an increasing number of states passing or considering laws to support employee ownership. These legislative initiatives recognize the economic and social benefits of ESOPs and aim to make transitions to employee ownership easier and less costly. The ESOP Association (TEA) has been at the forefront of these efforts, advocating for policies that empower employee-owned businesses.
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Mar. 03
Milestone alert! In February, Accounting Manager Yvonette Brown marked her 20th Anniversary at The ESOP Association!To help Yvonette celebrate, TEA’s Washington DC headquarters staff enjoyed a team lunch from one of her favorite restaurants, plus a big cake! We all loved hearing Yvonette’s favorite memories working at TEA, from when she was hired as Accounts Receivables Manager in 2005 to her promotion to Accounting Manager in 2022 and beyond.
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Mar. 03
With record-setting attendance driven by increased attention on the public release of the Biden Administration Department of Labor’s proposed adequate consideration regulation draft, The ESOP Association’s Professionals’ Forum was a huge success. This one-of-a-kind in the ESOP community allows our professional service providers to engage in deep discussions on important topics and help inform the Association on issues and priorities.
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