The ESOP Association Blog

Employee ownership blog – the blog of The ESOP Association

March 12, 2012 • 2:27 pm 1

Fiduciary Responsibilities Webcast

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, , ,

December 19, 2011 • 12:40 pm 0

Another EFES Update

On Friday, December 16th, we noted that the European Federation of Employee Share Ownership (EFES) was discussing a new initiative to further develop employee ownership in the European Union. You can read the article here.

We wanted to update you about another development: there is going to be a hearing on a European policy for employee ownership. The hearing will be a public hearing in the European Parliament. It will take place in February 2012.

You can read the draft program here – EFES Draft Program.

As we’ve said before, it’s very interesting to see this development in Europe. We’ll be keeping on close eye on the hearings.

Filed under: Economic Performance, Employee Ownership Foundation, Employee Ownership Message, Retirement Issues, , ,

December 16, 2011 • 12:33 pm 0

European Federation of Employee Share Ownership Looks to the ESOP

The European Federation of Employee Share Ownership (EFES), at a recent meeting of the European Economic and Social Committee discussed a new initiative to further develop employee ownership in the European Union. As part of the new initiative it was noted that the U.S. ESOP model “…should be implemented in the European Union, as it is successfully in the USA since 1974.” It was also noted that the Committee believes this is the only way to continue developing employee ownership in the European Union.

“I find it interesting that many ESOP cynics in the U.S. claim to be for employee ownership, but believe the ESOP model is inferior,” said J. Michael Keeling, president of The ESOP Association and the Employee Ownership Foundation. “Many of our European friends of employee ownership used to hold this view of ESOPs but now they have moved to the belief that the most effective employee ownership model is the American ESOP, and they want it in Europe too!”

For additional information on the EFES, please visit www.efesonline.org.

Filed under: Economic Performance, Employee Ownership Foundation, Employee Ownership Message, Retirement Issues, , ,

September 16, 2011 • 10:36 am 1

New from The ESOP Association

The following press release was sent out by The ESOP Association.

For Immediate Release: September 15, 2011

For More Information: Amy Gwiazdowski, 202/293-2971, amy@esopassociation.org

 The ESOP Association Submits Statement to Finance Committee on Tax Reform and Retirement Security

September 15, 2011 (Washington, DC) – On September 15, 2011, The ESOP Association submitted a statement for the record to the Senate Committee on Finance which held a hearing examining tax reform options and the promotion of retirement security.

“We presented to the Committee data that shows ESOP companies and their locally-controlled jobs are more profitable, more productive, and more sustainable,” said ESOP Association President, J. Michael Keeling. “The best jobs program Congress could consider now would be encouraging more employee-owned companies.”

A copy of the statement can be found on the Association’s website here.  A link to the statement is at the top of the page.

The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership.  The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy.

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Filed under: Employee Ownership Message, Government Affairs, Retirement Issues, , , ,

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