Today the Office of Information and Regulatory Affairs (OIRA) within the Office of Management and Budget (OMB) released its Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions, which includes the congressionally mandated rule for adequate consideration, as prescribed by the WORK Act.  The Department of Labor (DOL) will now conduct a formal rulemaking, which includes a public comment period. 

Washington, DC is a town with a lot of sayings borne from the hard-earned political wisdom one acquires working here. Recently, with the release and withdrawal of the Biden Administration’s ideas of what constitutes Adequate Consideration for ESOPs, two of those sayings come to the top of my mind.

Welcome to your January 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!

In one of the first actions of the Trump presidency, the White House has announced a pause on all proposed regulations from the Biden Administration that have yet to be finalized. The moratorium effectively freezes pending Executive Branch agency regulations.

On Thursday, January 16th, the U.S. Department of Labor (Department) released two proposed regulations containing rules that, if finalized, would govern ESOP stock acquisitions and sales.

The ESOP Association has been informed that a proposed rule from the U.S. Department of Labor regarding what is known as the “adequate consideration exemption” for ESOP transactions has been drafted and is being submitted to OMB imminently.

The following written testimony was provided by Daniel Goldstein, President and CEO of Folience, to the Feb. 12, 2020 hearing of the House Committee on Small Business.

Daniel Goldstein, President and CEO of Folience, testified on behalf of The ESOP Association before the House Committee on Small Business. Feb. 12, 2020.

A guide to the ERISA rules all ESOP fiduciaries need to know to fulfill their obligations.