March 25, 2013 • 12:37 pm
On March 21, 2013, The ESOP Association submitted comments to the House Ways and Means Committee on Tax Reform. The comments are available on The ESOP Association’s website
The House Ways and Means Committee has a long history of supporting laws that encourage the creation and operation of ESOPs because in the vast majority of instances, ESOP companies are more productive, more profitable, with sustainable jobs for their employees, that are locally controlled, while providing retirement benefits that are greater than most U.S. conventionally- owned companies.
ESOPs are at the same time, putting an average of $8 in revenues into the Federal Treasury for every $1 that is “foregone” by the Federal government because of the laws promoting employee stock ownership through the ESOP model.
As the process of Tax Reform progresses, the Association will update members on the blog and website. Check this page
for the most recent government affairs information.
Filed under: Government Affairs, Retirement Issues, Comments on Tax Reform, Government Affairs, House Ways and Means Committee, Tax Reform
December 5, 2012 • 10:55 am
In October 2012, The ESOP Association, along with 22 other organizations concerned about the tax treatment of employer-provided retirement plans, signed a letter encouraging members of the Senate to co-sponsor a resolution showing support for the private retirement savings system. The letter states: “We are writing to ask you to co-sponsor a bi-partisan resolution that will be introduced by Senator Richard Blumenthal (D-CT) and Senator Johnny Isakson (R-GA) expressing the sense of the Congress that our current tax incentives for retirement savings provide important benefits to Americans to help plan for a financially secure retirement.”
If you would like a copy of the letter, please send an email to email@example.com with Senate Resolution Letter in the subject line.
Additionally, The ESOP Association will be joining a new retirement based group called the Coalition to Protect Retirement which is aimed at protecting retirement plans in the U.S. For more information on the Coalition to Protect Retirement, visit the website at How America Saves.
Filed under: Government Affairs, Retirement Issues, Government Affairs, Retirement Security, Senate Resolution
At the end of March, the Department of Labor’s Employee Benefits Security Administration (EBSA) will sponsor a two part retirement plan webcast regarding fiduciary responsibilities: Getting It Right – Know Your Fiduciary Responsibilities.
It will take place March 27th and 28th, 2012, from 1:00 pm – 2:30 pm EDT.
Information about the webcast and registration information is available on the EBSA website.
According to the EBSA website, part 1 will focus on basic fiduciary responsibilities, prohibited transactions, and exemptions under ERISA. Part 2 will feature information on reporting and disclosure provisions and the Department’s voluntary correction program.
Filed under: Government Affairs, Retirement Issues, Department of Labor, Employee Benefits Security Administration, Fiducuairy Responsibilities Webcast