ESOPs As a Retirement, and Succession, Plan
ESOPs can help employees amass greater retirement benefits, as well as help business owners keep control in planning for the...
Tag: ESOPs
Stock-Drop Lawsuit Targeting IBM Revived and Remanded
An appellate court has taken the rare step of overturning a successful motion to dismiss a stock drop lawsuit targeting...
Workers in ESOPs Have Double the Retirement Savings
ESOP participants have an average retirement balance of $170,326, more than twice the $80,339 that other workers have saved
Companies With ESOPs Report Advantages for Business
In addition, 55% of responding companies contributed to their ESOPs an amount equivalent to 11% or more of participants’ pay—far...
Members of Congress Ask Trump to Protect ESOPs
In a letter, members of Congress accuse the DOL of “regulation through litigation” and ask that clear guidance regarding valuation...
Reliance Trust Settles DOL Lawsuit Over ESOP Valuation
The lawsuit alleged that employee stock ownership plan participants overpaid for company stock.
Divisions Remain in Courts Regarding the Burden of Proof
A case set to go to the U.S. Supreme Court for a decision about who bears the burden of proof...
Pro-ESOP Bill Signed Into Law
Among other things, the Main Street Employee Ownership Act focuses on increasing the role of the Small Business Administration (SBA)...
Plaintiffs’ Prudence Claims Snapped in General Cable Stock Drop Suit
In dismissing the stock drop challenge, the judge offers an illuminating review of what is required by ERISA’s duty of...
‘Prudence’ and ‘Loyalty’ Feature in Second Rejection of Wells Fargo Stock Drop Suit
While they won the day, defendants unsuccessfully argued that the Dudenhoeffer pleading standards should be applied not only to prudence claims, but...
Rainbow ESOP Lawsuit Easily Clears Early Motions
The text of the decision includes lengthy discussion of all 14 counts of ERISA fiduciary breaches, and why each is...
Stock Drop Lawsuit Tied to Allergan-Actavis Acquisition Dismissed
Ruling in favor of a detailed motion to dismiss filed by defendants, the court cites a long list of precedent-setting...
Cactus Feeders ESOP Fiduciaries Agree to Sizable DOL Settlement
Lubbock National Bank, the ESOP’s trustee, has also agreed to take steps that will ensure it fulfills its fiduciary obligations...
Bill Would Encourage Small Businesses to Create ESOPs
The bill would amend Section 7(a) of the Small Business Act, expanding loans to small business employers for the purpose...
ESOP Fiduciaries to Pay More Than $2 Million to Settle DOL Lawsuit
The Department of Labor sued Sonnax Industries, company officers and ESOP fiduciaries Tommy Harmon and Frederick Fritz, and Illinois-based First...
Judge Rules on DOL ESOP Challenge with Mixed Results
The mixed decision comes after DOL moved for summary judgement; the defendants responded by moving to exclude key testimony from...
Benefits |
Owners and Employees Alike Can Benefit from ESOPs
A new website launched by Principal seeks to help business owners and their advisers talk through the possibilities of creating...
Two ESOP Bills Would Promote Employee Ownership
Both, one in the House and one in the Senate, have bipartisan support
6th Circuit Rules for Eaton Corp. in ESOP Suit
The appellate court agreed with a lower court that plaintiffs did not meet pleading standards set forth in the Supreme...
DOL Reaches Triple Settlement With First Bankers Trust
The DOL alleged in all three cases that the firm approved transactions without undertaking the due diligence required of an...