The ESOP Association Blog

Covering ESOPs and employee ownership

March 25, 2013 • 12:37 pm 0

The Association Submits Comments on Tax Reform

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.
In summary:

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, , , ,

December 5, 2012 • 10:55 am 0

The ESOP Association Signs Letter Seeking Support for Senate Resolution on the Private Retirement Savings System

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 media@esopassociation.org 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, , ,

March 12, 2012 • 2:27 pm 0

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 0

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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