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By a 29-21 party-line vote, the House Education and Labor Committee has passed H.R. 7310, the Protecting America’s Retirement Security Act. The bill now will go to the full House. There is no current Senate companion bill. The bill contains a handful of provisions, most notably requirements for fee disclosure in retirement plans, the creation of a federal personal finance education portal, increased requirements for spousal consent requirements in defined contribution plans, and making automatic deferrals to a 401(k) plan continue by default unless an affirmative action to end them is made.

The House Appropriations Committee urged the SBA to fully implement the Main Street Employee Ownership Act (MSEOA), which was passed in 2018 but has seen only limited use because the SBA issued standard operating procedures that directly undermine the intent of the Act.

By a vote of 220-205, the House passed the Mental Health Matters Act.

Our recent ESOP Topics Survey asked companies to reflect on how employee ownership is affecting their ability to respond to the coronavirus pandemic. The responses show some encouraging perspectives on how an ESOP and an effective culture of ownership can help companies survive and thrive in crisis.

October is Employee Ownership Month, and this year we celebrated it along with Dialectic’s recent recognition as one of Kansas City Business Journal’s Best Places to Work (BP

Our friends at the Employee Ownership Expansion Network (EOX) have announced the launch of a state center for employee ownership in Illinois.

Governor Eric J. Holcomb of Indiana has issued a proclamation officially designating October as Employee Ownership Month. 

The Iowa legislature recently passed a bill appropriating $500,000 per year to help offset the costs of determining whether an ESOP is an appropriate strategy for the business owner, the company, and the employees.

In April, the IRS released an "issue snapshot" on how to prevent violations of Code Section 409(p), the part of the Internal Revenue Code designed to prevent the

The IRS has announced COLA (cost of living adjustment) changes for 2022 retirement plan limits, with several changes of interest to ESOPs.