SCOTUS Again Remands Stock Drop Case
The Supreme Court returned Amgen’s ESOP case to the lower court for a second time.
Tag: ESOPs
DOL Sues Sponsor Over Company Stock Valuation
The DOL is asking a Florida district court to take action against an employer accused of inflating its fair market...
Number of ESOPs Down, Number of Participants Up
While the number of plans identified as ESOPs has decreased, the number of active participants has steadily increased, NCEO data...
ESOP Participants’ Breach Claims Not Supported
Participants in an ESOP that purchased shares with a loan from the sponsoring employer made allegations that were not backed...
DOL Accuses ESOP Fiduciaries of Prohibited Transactions
A lawsuit says BAT Masonry was valued at $13 million less than what its ESOP paid for company stock.
Webcast to Cover Updates to IRS Employee Plans Programs
The agency is hosting a free webcast in which the determination letter program and new pre-approved plan document programs will...
11th Circuit Reaffirms Delta Air Lines Stock Drop Victory
Circuit court sees no need to change a previous ruling in a stock drop case, reconsidered in light of the...
PBI Bank Settles with DOL over ESOP Transaction
PBI Bank will no longer serve as a trustee or service provider for any plan covered by ERISA, with a...
ESOP Sponsor May Have Had Heightened Duty to Disclose
A court has found questions exist about whether a privately-held company had a duty to disclose a contemplated merger to...
Report Rounds Up Retirement Reform Needed
A working group established by the Senate Committee on Finance shows support for a number of proposals to reform the...
DOL Sues Firm Over Company Stock Purchases
The Labor Department filed suit against a California-based manufacturer to recover millions of dollars for ESOP plan participants.
IRS Expands Pre-Approved Plans Program
Cash balance plans and ESOPs can now be submitted for an approval letter from the IRS.
Settlement Reached in Fannie Mae Stock Drop Suit
Affected participants will receive $9 million, less attorneys’ fees and settlement expenses.
ESOP Bill Introduced in U.S. House
The bill would address barriers to more S Corporations forming ESOPs.
Report Finds ESOPs Have Outperformed S&P 500
A report by EY reveals a strong positive return for S corporation ESOPs from 2002 to 2012.
DOL Alleges Company’s ESOP Creation Was Flawed
Accurate company valuations are critical when it comes to establishing an ESOP, the DOL says in an enforcement action announcement.
Company Stock Considerations Depend on Employer Goal
Implications of two litigation outcomes in June 2014 depend on the type of employee stock ownership plan an employer offers.
How Pensions Impact Corporate Financial Distress
A new academic research paper reexamines how pension costs were related to defaults and bankruptcies at high-profile U.S. corporations in...
DC Plan Use of Company Stock More Restricted
The offering of company stock in defined contribution plans has declined since 2005, according to Vanguard.
Plan Fiduciaries Liable for Mispriced ESOP Stock Purchase
The owner of Bruister and Associates and trustees of its employee stock ownership plans (ESOPs) were found responsible for causing...