ESOP Association News
The following release was sent out by The ESOP Association today. We’re sharing here with readers.
For Immediate Release: June 17, 2013
Senator Kelly Ayotte Speaks to New England ESOP Association Members
June 17, 2013 (Washington, DC) – Speaking to a gathering of ESOP Association members, Senator Kelly Ayotte (R-NH) once more renewed her promise to protect ESOPs (employee stock ownership plans) and employee ownership in America. The Senator was also presented with the 2013 ESOP Advocate of the Year Award by The ESOP Association’s New England Chapter members. The Award was presented at the Chapter’s Super Regional Board of Directors/Trustee Conference held in Nashua, NH on June 14, 2013.
In February 2013, Senator Ayotte introduced pro-ESOP bill, S. 273, a bill to modify the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) of 1974 to exclude appraisers of ESOPs. This bill is a response to the Department of Labor’s proposed anti-ESOP regulation mandating all private ESOP company appraisers be ERISA fiduciaries.
“The ESOP Association is proud to recognize Senator Kelly Ayotte as the New England Chapter’s 2013 ESOP Advocate of the Year. Senator Ayotte is a strong advocate for the ESOP cause, and the Association, along with New England Chapter members, is grateful for the commitment Senator Ayotte has shown in supporting employee-owned companies,” said ESOP Association President, J. Michael Keeling.
A video of the Senator’s remarks is below. Thanks to ESOP Association member, Chuck Coyne, ASA, Managing Director, Empire Valuation Consultants, LLC, in Hartford, CT for sharing the video link.