Legal Tip: Remember Attribution Rules

In determining whether an ESOP allocation is allowed, don't forget to consider attribution rules. Spouses and dependent children, and possibly others, can have their income attributed to another individual.

Legislation, Hearings on the Way

Responding to the Enron case, House members Peter Deutsch (D-FL) and Gene Green (D-TX) are introducing legislation to limit employer stock in 401(k) plans to 10% of total assets. Senator Jeff Bingaman (D-NM) is also drafting legislation to limit employer stock.

Legislators Making the Case for Employee Ownership

Senator Kirsten Gillibrand (D-NY), one of the four sponsors of the pro-employee-ownership WORK Act (along with Maggie Hassan [D-NH], Bernie Sanders [I-VT], and Patrick Leahy [D-VT]), is promoting employee ownership, including paying a visit to ESOP-owned company