Tag: ESOPs

Benefits | July 8th, 2010

TX Power Company Adds ESOP

July 8, 2010 (PLANSPONSOR.com) – A Houston, Texas-based retail electricity provider has announced the creation of an employee stock...

Administration | June 14th, 2010

NCEO Says Employer Stock Generally Wins in Court

June 14, 2010 (PLANSPONSOR.com) – A recent analysis offers some comfort for plan sponsors who have stock...

Compliance | June 9th, 2010

Settlement of Fannie Mae Stock Suit Gets Preliminary Approval

June 9, 2010 (PLANSPONSOR.com) – A federal court judge has given preliminary approval to a $7.25-million settlement of an Employee...

Compliance | May 25th, 2010

ESOP Trustee Cleared of ERISA Wrongdoing

May 25, 2010 (PLANSPONSOR.com) – The trustee of an employee stock ownership plan (ESOP) acted in good faith when it determined...

Compliance | May 13th, 2010

New Bill Would Add ESOP Tax Boosts

May 13, 2010 (PLANSPONSOR.com) – Two federal lawmakers have introduced a bill they say would boost employee-owned businesses through tax...

Compliance | March 19th, 2010

Court Dismisses Most Claims in State Street Stock Suit

March 19, 2010 (PLANSPONSOR.com) – A federal court has dismissed most claims against State Street Corporation and its retirement plan...

Compliance | March 11th, 2010

DoL Recovers More than $12M for CA Company ESOP Participants

March 11, 2010 (PLANSPONSOR.com) - The U.S. Department of Labor has obtained consent judgments providing for restitution of more than...

Compliance | March 4th, 2010

DoL Sues ESOP Trustee over Stock Purchase

March 4, 2010 (PLANSPONSOR.com) - The U.S. Department of Labor has sued a trustee of the Westra Construction Inc. Employee...

Compliance | March 2nd, 2010

Forcing Terminated Participants out of Company Stock no ERISA Violation

March 2, 2010 (PLANSPONSOR.com) – A federal court has ruled that an Employee Stock Ownership Plan sponsor did not breach...

Products | February 1st, 2010

Principal Launches Ninth Search for the 10 Best

February 1, 2010 (PLANSPONSOR.com) - Providing a sense of financial security for employees whether the economy is in...

Compliance | December 24th, 2009

ESOPs Get Legislative Backing

December 24, 2009 (PLANSPONSOR.com) – Employee stock ownership plan (ESOP) proponents got some legislative backing last week.

Compliance | December 21st, 2009

Tribune ESOP Fiduciary Breach Suit Moves Forward

December 21, 2009 (PLANSPONSOR.com) – A federal court has moved forward claims that fiduciaries for the Tribune Company Employee Stock...

Compliance | December 15th, 2009

Court Moves Forward Claim ESOP Reps Omitted Financial Data

December 15, 2009 (PLANSPONSOR.com) – A federal court has ruled that a former Employee Stock Ownership Plan (ESOP) participant can...

Administration | November 4th, 2009

Tribune Co. ESOP to be Terminated

November 4, 2009 (PLANSPONSOR.com) - In a memo to Tribune Co. employees announcing a new retirement plan, Chief Administrative Officer...

Benefits | August 17th, 2009

Survey Finds Companies with ESOP Outperformed Stock Market

August 17, 2009 (PLANSPONSOR.com) - Results from the Employee Ownership Foundation's 18th Annual ESOP Economic Performance Survey show that 88.5%...

Administration | April 10th, 2009

DoL Subpoenas Tribune on ESOP

April 10, 2009 (PLANSPONSOR.com) - The U.S. Department of Labor has subpoenaed Tribune Co. in an investigation connected to the...

Compliance | December 24th, 2008

Federal Judge Allows Ford ESOP Suit to Move Forward

December 24, 2008 (PLANSPONSOR.com) - The U.S. District Court for the Eastern District of Michigan has denied a motion to...

Compliance | November 13th, 2008

CA Firm Charged with Misusing ESOP Assets

November 13, 2008 (PLANSPONSOR.com) - The U.S. Department of Labor has sued the board of directors of The Employee Ownership...

Benefits | September 2nd, 2008

ESOP Member Firms Give Program Big Thumbs Up

September 2, 2008 (PLANSPONSOR.com) - Executives at companies with an employee stock ownership plan (ESOP) are nearly all jumping for...

Benefits | June 18th, 2008

Study Indicates Majority-Owned ESOP Firms Enjoy Greater Productivity

June 18, 2008 (PLANSPONSOR.com) - Recent research by Brent Kramer, a doctoral candidate at the City University of New York,...