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!
ESOP Blog, Resource
Apr. 24
At Entertainment Partners, with our 1,100 employee owners spread out across more than 10 locations nationwide, we rely heavily on technology to help us communicate and connect with each other. To us, “social media” encompasses any technology that enables us to create and share content and make those connections. It could be software specifically geared toward fostering collaboration in the workplace or it could be the same website you use to share hilarious cat videos or that perfectly angled selfie.
Resource, Press Releases
Apr. 15
Gardener’s Supply Company of Burlington, VT, has been named the 2018 ESOP Company of the Year by The ESOP Association. The announcement was made at The Association’s Annual Conference.
“Gardener’s Supply is a prime example of an ESOP company that actively engages its employee owners, the employee ownership community, and elected officials at the state and federal levels,” said ESOP Association President J. Michael Keeling. “Its commitment to sharing with others the power of ESOPs is an example all ESOP companies can proudly seek to replicate.”
“Gardener’s Supply is a prime example of an ESOP company that actively engages its employee owners, the employee ownership community, and elected officials at the state and federal levels,” said ESOP Association President J. Michael Keeling. “Its commitment to sharing with others the power of ESOPs is an example all ESOP companies can proudly seek to replicate.”
ESOP Blog, Resource
Apr. 02
Most businesses wrestle with their health care costs. Being an ESOP does not make us immune to this challenge.
Travel and Transport is a 1,400-person company with offices from Boston to Seattle. We have a self-insured health plan in which approximately two thirds of our employee owners participate. Our plan has run large deficits the past several years and, as a result, we are in the midst of making some major changes.
Travel and Transport is a 1,400-person company with offices from Boston to Seattle. We have a self-insured health plan in which approximately two thirds of our employee owners participate. Our plan has run large deficits the past several years and, as a result, we are in the midst of making some major changes.
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, President's Page, ESOP PAC, Distribution, SBA, Foundation, Stock Sale, Asset Sale, Voluntary Correction Program
Apr. 01
Congress takes two actions in support of ESOPs.