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!
Advocacy
Oct. 31
Election Day is November 8th, 2022, and it’s important that employee owners take the time to ensure their voice is heard when selecting our representatives in Washington, D.C. and in state houses and legislatures nationwide. And while we often think or talk about election “day”, the reality is that your opportunity to vote extends well before election day. In 2020, more than 91 million ballots had been cast by Halloween. In the end, more than 154 million votes were cast in 2020, out of more than 257 million potential voters.
Oct. 26
In this month's issue of the ESOP Report, enjoy a special feature on our upcoming Employee Owned 2022 Conference. This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
Oct. 21
This October, Employee Ownership Month, The Gazette, a Folience brand, ran a special ESOPTOBER Employee Ownership Month Celebration Sunday Edition of their Newspaper to celebrate their ESOP and help the community understand what it means to be employee owned.