Newsletter Article March 2023
You have probably been told that ESOPs are part of your retirement plan—and that’s true. In fact, ESOPs are legally part of the Employee Retirement Income Security Act of 1974, which was passed to establish a set of rules to ensure that the tax incentives Congress provides for companies and employees to fund retirement plans are fairly distributed to workers rather than concentrated on a small percentage of well-paid people. ESOPs, pension plans, 401(k) plans, IRAs, and other similar plans are all covered by the law.
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