In Acosta v. First Bankers Tr. Servs., Inc., No. 3:12-cv-04450-MAS-DES (D.N.J., consent order November 19, 2017), First Bankers Trust agreed to an $8 million settlement in a case alleging overvaluation of shares purchased by an ESOP at SJP Group.
The tax bill now before the Senate, and the bill that passed the House, contain no provisions directly affecting ESOPs, nor do they contain previous provisions that would have taxed stock awards at vesting.
New York State has enacted a bill (5349A [PDF]) creating a special commission to report on how the state can encourage employee ownership through worker cooperatives and majority ESOPs where employees elect the pl
The Association of Washington Business has named Schweitzer Engineering Laboratories as its employer of the year. The award recognizes innovative work and compensation practices.
Robert Fulton, the founder of ESOP owned Web Industries, died on November 18 at the age of 86. We at the NCEO wanted to include this in our update because Bob and the company he created have been such seminal figures in employee ownership.
In the November-December issue of the Employee Ownership Report, we erroneously reported that in Pioneer Ctrs.Holding Co. EmpStock Ownership Plan & Tr. v.
As of a few days ago, it appeared that the new tax reform bills in both the House and the Senate would tax equity compensation grants when they vested.
The Republican tax proposal released on November 1 does not contain provisions that will directly affect ESOPs. There had been some concern that the plan would make changes to retirement plan law, but no significant modifications were proposed.
A new Fidelity Investments study of Fidelity corporate clients with over $100 million in assets shows that the percentage of companies offering stock in their 401(k) plans dropped from 39% in 2005 to 28% in 2016, while the percentage of employees having company stock in these plans dropped from 4
