The ESOP Association Blog

Covering ESOPs and employee ownership

ESOP Experts Online Directory

Do you need an ESOP service provider? Do you have an ESOP dilemma?

The answers are in the ESOP Experts Online Directory! The ESOP Experts Online Directory is an easy-to-use, category-by-category listing of specialized ESOP services offered by Professional Members of The ESOP Association. You can search the ESOP Experts by specialty.

If you have any questions about the ESOP Experts, or would like to inquire about a listing, please contact Yvonette Brown at yvonette AT

Filed under: Member Services,

The ESOP Association Proudly Celebrates 25 Years of Offering its Members the Executive Liability Insurance Program

Insurance 25th AnniversaryFeeling exposed? You might be…and don’t even know it! Executives of ESOP companies face unique liability challenges for ERISA liability and in their capacity as directors and/or officers. A single loss can be very costly to you and your company.

For 25 years, The ESOP Association has been offering members an insurance solution to ensure you are properly protected by reducing your potential exposure to loss.

Executive Liability Insurance Program — Four Coverages Under One Policy

• Fiduciary/Trustee Liability

• D&O Liability

• Employment Practices Liability

• Crime


• Entity coverage available

• Side A coverage available

• Third-party coverage included

• Employee protection expanded

• No SEC exclusion

• Outside board protection

For more information about this program, contact: Jeff Gelburd, CPCU, ARM, Vice President, Murray Securus, (717) 620-2476 or jgelburd AT

Filed under: Member Services,

Government Affairs Update, March 2014

ESOP Association President, J. Michael Keeling, provides Association members with an update on the Administration’s FY 2015 Budget and the impact on the ESOP community.


Filed under: Government Affairs, ,

Change of Payment Address

March 10, 2014

Dear ESOP Association Member:

The ESOP Association recently experienced a problem with its Wells Fargo lockbox banking system (addresses “PO Box 5149” and “PO Box 61549”).  ESOP Association staff are currently in discussions with Wells Fargo personnel to rectify their lockbox processing issues.

In taking steps to prevent these problems from happening again, at this time, we are suspending use of the lockbox system.

Please have your accounts payable department change our address for the purposes of mailing a payment to The ESOP Association’s physical address until further notice:

The ESOP Association

1726 M Street, NW

Suite 501

Washington, DC  20036-4507

Please note that this does not affect any payments made through our online ecommerce system through the Association’s website.

If you have mailed in a check recently or have any questions please do not hesitate to contact me, Lisa Betts, Vice President, Membership or Yvonette Brown, Accounts Receivable Manager at toll free 1/866-366-3832 to discuss.

Your attention to this matter is greatly appreciated.

Sincerely yours,

J. Michael Keeling, CAE


cc:  Lisa R. Betts, CAE, Vice President, Membership,

Yvonette Brown, Accounts Receivable Manager,

Filed under: Member Services,

Technical Topics Announced for the 37th Annual Conference

esop-slide-template - 2014 Annual Conference PANARAMIC37th Annual ESOP Conference — “ESOPs: Capitalism at Work”

Dates: May 8 & 9, 2014 — Annual Awards Ceremony the evening of May 7th

Location: Renaissance Washington Hotel, Washington, DC

Preliminary Agenda: The proposed technical topics are now available; ownership culture topics will be announced soon.

This year’s technical topics include: 

  • The Administration Cycle – Part I, How Balances Accumulate
  • Legislative, Regulatory and Judicial Update
  • Basics of ESOP Stock Valuation
  • The Administration Cycle – Part II, How Benefits are Reported and Distributed
  • Repurchase Obligation and its Impact on Value
  • Legal and Fiduciary Issues with Sale of an ESOP Company
  • ESOP Companies Making Acquisitions
  • Trustees’ Duties
  • Special Administration Issues – Diversification, Rebalancing and Reshuffling
  • 1042 ESOP Transactions
  • Repurchase Obligation and Cash Management
  • Interplay Between ESOP Trustees and Boards of Directors
  • Seller Financing in ESOP Transactions
  • When the Call or Letter arrives – DOL/IRS Investigations
  • ESOP Sustainability
  • Fiduciary Responsibility for Value Determination
  • GAAP Accounting for ESOP Sponsors
  • Common Administrative Errors, How to Avoid Them, and How to Fix Them
  • Agency Practitioners Forum (Pt 1)
  • Agency Practitioners Forum (Pt 2)

Contact: Rosemary Clements or Maya Van Buren at 202/ 293-2971 or by email at

Additional Information: Conference and registration information, including information on hotel reservations, can be found on the Association’s website.

Filed under: Conference Information, ,

Administration Again Takes Aim at Employee Ownership

The ESOP Association released the following press release today.

For Immediate Release: March 4, 2014

For More Information: Amy Gwiazdowski, amy AT

Administration Again Takes Aim at Employee Ownership

March 4, 2014 (Washington, DC) – Today, The ESOP Association expressed disappointment once more over a provision in the President’s Fiscal Year 2015 budget that pertains to employee stock ownership plans (ESOPs). Included in the budget document is a provision to ‘eliminate the deduction for dividends on stock of publicly-traded corporations held in certain ESOPs.’

“Obviously, we are disappointed this provision has been included in the President’s budget,” said ESOP Association President, J. Michael Keeling. “We are baffled by the Administration. How can the Administration preach about creating jobs and then plan to take away a proven policy that sustains jobs? Furthermore, the provision the Administration wants to kill was added in 1984 by Congress to address income inequality by encouraging employee owners to have more income from ownership. It is counter-intuitive. As we’ve said before, research proves that ESOPs, and companies with other forms of employee stock ownership, provide more sustainable employment. The Administration needs to step up and encourage broad-based inclusive capitalism and increase employee ownership to ensure sustainable employment for U.S. workers, and more income for average pay employee owners, not decrease support.”


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. More information: website – and blog –

Filed under: Government Affairs,

Tax Reform Update, February 28, 2014

With the release of the Tax Reform Act of 2014, ESOP Association President, J. Michael Keeling, provides Association members with an update on the proposed legislation and where ESOPs stand.

Filed under: Government Affairs, , , , ,

Employee Ownership Foundation – Charles R. Edmunson Scholarships

FoundationThe Employee Ownership Foundation is accepting applications for the 2014 Charles R. Edmunson Scholarships. Information is available on the Employee Ownership Foundation website. The deadline for all 2014 Edmunson Scholarship Application is March 7, 2014.

This Scholarship program honors employee ownership leader and advocate Charles R. Edmunson who dedicated a significant part of his life to educating employee owners of the benefits of widespread ownership in a free enterprise system. Mr. Edmunson was also instrumental in the creation of the Employee Ownership Foundation.

An Edmunson Scholarship awards an ESOP employer up to $1,250 to defray the expense of sending employee owners to employee ownership training programs such as the Employee Ownership Foundation’s Employee Owner Retreat or the Association’s Annual Conference in Washington, DC. The Scholarship may also be used for Association Chapter and Regional Conferences. The Scholarship is for non-managerial employee owners.

Filed under: Employee Ownership Foundation, ,

2014 Winter Advocacy Kits Available

The updated 2014 Advocacy Kit and 2014 Congressional Company Visit Kit are now available on The ESOP Association’s website. Copies of the 2014 Winter Kits can be downloaded from The ESOP Association’s website.

The newly updated Kits contain information on: House – Moving to Curtail Tax Benefits for ESOPs?; Senate Tax Reform Update; Obama Administration Condemns ESOPs and Proposes Repeal of ESOP Tax incentive (Administration is Wrong).

Filed under: Government Affairs, Member Services, Publication, ,

February 2014 ESOP Report Newsletter

The February 2014 issue of the ESOP Report is now available. To access this month’s issue, you’ll need to sign into the website. The Member Sign In button is located at the top of the page. To get to the ESOP Report, click Meet & Learn. A link to the ESOP Report is located on the left side menu.


Filed under: Member Services, Publication, TEA Members, , ,

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2014 Annual Conference in Washington DC

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