The DOL has issued new interim requirements (29 CFR Part 2520. Aug. 18, 2020) that companies with defined contribution plans, including ESOPs, express a participant’s benefit as an annuity.
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West coast supermarket change become 100% ESOP-Owned
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We have always believed in equity and inclusion as central tenets of our culture. Becoming 100% employee-owned allows us to take these values to the next level, and show the team we really mean it.”
— Seth Brown, Chief Executive Officer
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Looking to preserve its innovative culture and position the company for sustainable success well into the future, Taylor transfers ownership of the company to its employees via a newly formed ESOP
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