A Memphis-based third-party logistics provider is now fully run by its employees.
Read MoreFewer than one in 200 American companies are eligible to join Certified EO.
Read MoreThe principals of Pilot Hill Advisors, a national ESOP advisory firm, are pleased to announce that a Long Island-based client successfully completed a second-stage ESOP buyout.
Read MoreDesign Workshop, an international landscape architecture, planning and urban design firm, is pleased to announce today that it is now 100% Employee Stock Ownership Plan (ESOP) owned. Under this plan, ownership of the company is held in an ESOP Trust, is funded entirely by company contributions, and all employees participate. This is designed as a long-term retirement benefit, with the employees' accounts increasing as the value of the business increases.
Read MoreThe agreement requires Wilmington Trust to pay $80 million to 21 employee stock ownership plans (ESOPs) for which it served as trustee.
Read MoreBack at the turn of the new year, few people imagined the havoc that the COVID-19 outbreak would cause during the first quarter of 2020. The broad financial outlook has worsened, and the valuations of many companies might be dramatically affected. Where ESOPs are concerned, this means that the 12/31/19 valuation—the value communicated in 12/31/19 participant statements and used to report the fair market value of employer securities on 2019 Form 5500—does not account for the public health crisis that has transpired since then. Here are four things to consider when confronting an issue such as this one.
Read MoreOn March 27, 2020, President Trump signed into law a massive $2 trillion stimulus bill, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or the Act), aimed at shoring up the U.S. economy in light of the disruption caused by the coronavirus pandemic. In addition to the widely discussed individual stimulus payments, the CARES Act contains extensive provisions expanding unemployment insurance, extending tax relief to individuals and employers, adopting healthcare measures, providing economic stabilization funds, and making other emergency appropriations. A number of the Act's provisions are of particular interest to companies owned by employee stock ownership plans (ESOPs).
Read MoreA common concern about ESOPs is their potentially higher level of risk for participants than a diversified 401(k) plan. As the argument runs, investments in a single company's stock carry more uncertainty than the same amount of investment in a diverse portfolio, and this risk is compounded when the company is also the investor's employer. Critics of ESOPs point to spectacular failures like Enron, where thousands of employees lost their retirement savings, ignoring that participants in 401(k) plans during steep market declines also often suffered dramatic losses.
Read MoreDPI was recognized last night with one of only three Excellence Awards. Presented with the "Excellence in Employee Relations" by Plastics News for our ESOP status and overall employee engagement.
Read MoreThe workers used an employee benefit plan that gives them ownership interest in the company for whom they work.
Read MoreAn Employee Stock Ownership Plan, or ESOP, gives employees a stake in the company through stock allocation.
Read MoreIf Bob Moore is any example, doing what you love for a living and sharing your wealth with employees will keep you vibrant and happy well into your 90s.
Read MorePLYMOUTH, MA — Tricia Mackey and Mark Strangie are locked in lighthearted conversation at Tech-Etch Inc. in Plymouth. When they finally part, the flexible circuit technician says, half-jokingly, to the vice president of sales and marketing, "OK. Get back to work!"
Read MoreMemphis, TN – Memphis-based third-party logistics provider, Cornerstone Systems, Inc. announced that it is now a 100 percent employee owned company as Founder/Chairman Rick Rodell sold his last 51 percent.
Read MoreAURORA, Colo. — Cassie Larimer is the assistant director of Happy Ladybug Early Learning, a child care center and preschool tucked into a one-story brick building in this city east of Denver. But her new business cards, emblazoned with a cheery ladybug logo, just say "owner."
Read MoreESOP company boards and ESOP trustees both have fiduciary obligations under ERISA to act in the best interests of employees as shareholders. It is very important that the board and trustee understand their own and each other's duties as well as how they need to work together on the following issues:
Read MoreThanks largely to Jimmie Gipson, many of Bowling Green-based Houchens Industries' employees have been able to enjoy comfortable retirements. Now Gipson is ready to join them.
Read MoreGreenScapes Landscape Company Inc. is the latest in a line of Columbus companies to transition to employee ownership.
Read MoreOn January 14, 2020, the U.S. Supreme Court issued a per curiam order in Retirement Plans Committee of IBM v. Jander[1] ("Jander"), a closely watched case regarding the pleading standard for corporate stock-drop and disclosure claims under the Employee Retirement Income Security Act ("ERISA").
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