ESOP
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Exploring the Benefits of Streamlining Retirement Plan Providers
In today’s fast-paced, digital-first business environment, efficiency is key to maintaining a competitive edge. When it comes to managing retirement plans, consolidating your plan providers can offer significant advantages. First, it’s important to know the different roles of providers within a retirement plan. This can be relatively straightforward if your organization offers a single plan…
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ESOPs and Investing Non-Employer Stock Assets
When it comes to Employee Stock Ownership Plans (ESOPs), much of the focus tends to be on employer stock. However, fiduciary responsibility extends beyond just managing these shares. It also includes the “Other Investments” account within the ESOP, which can significantly impact the financial wellbeing of plan participants.
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The Basics of ESOP Repurchase Obligations
In ESOPs that hold non-publicly-traded stock, when an active employee elects to diversify or a former employee requests a distribution, because there is no ready market for the stock, employer stock is sold and payment is made to the participant in cash. This obligation on the part of the company or the ESOP to repurchase…
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How to Communicate the VALUE of your ESOP!
An Employee Stock Ownership Plan (ESOP) is a popular road to employee ownership for many organizations, but is often misunderstood by plan participants, which tends to diminish the effect the ESOP can have on a company’s culture. How should you as a plan sponsor communicate the value of the ESOP to your employee-owners, to better…
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Understanding ESOP Plan Provisions
Once you have some insight on the basics of an ESOP it’s time to gain an understanding on more of the details, ESOP plan provisions. Distribution Timing Distribution Options Diversification Rights Have ESOP questions? Contact our team!
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ESOPs: The Basics
An Employee Stock Ownership Plan (ESOP) is a tax-qualified defined contribution retirement plan that primarily invests in the sponsoring company’s stock. ESOPs are primarily used to provide a market for the shares of a departing owner. Through the creation of an ESOP, the departing owner, the company, and plan participants can receive substantial tax benefits.
