The ESOP Association
ESOP Association Resources
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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Mar. 03
Since Donald Trump was inaugurated for his second term as President on January 20, our federal government is undergoing dramatic changes at an unprecedented pace that has not been seen in our nation’s modern history. These changes will impact virtually every aspect of our lives and economy, and the full scope and breadth of change is still yet to be felt.
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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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Jan. 29
A unique thing about ESOP companies is that the trustee is the shareholder of record for the corporation, not the ESOP participants, who are beneficial owners. The trustee is a critical player, but the concept of a trustee can be confusing and unfamiliar to employee-owners. At most ESOP companies, a small group of employees, such as the CEO and CFO, regularly interact with the trustee through their functional roles, but otherwise employees don’t naturally interact with or get to know the trustee in the normal course of business.
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