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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.

In addition to the beneficial changes for employee ownership in the WORK Act we outlined in the previous newsletter, SECURE 2.0 makes many changes that will affect most ESOP plan sponsors and qualified plan sponsors in general.

January is goal-setting season for many, including companies examining what to prioritize for their businesses and company cultures.

As we have reported, on January 11, 2021, the 1,200 employees of Taylor Guitars learned through a video conference that the company had just been sold—to them, at no cost, through an ESOP.

In collaboration with the Beyster Institute at the Rady School of Management at UC San Diego, the NCEO recognizes employee-owned companies for a number of innovative practices that stem from the development of effective ownership cultures and highly engaged workforces of employee-owners.

For more than a decade, the NCEO has recognized employee-owned companies at our annual conference for their innovative practices in employee ownership culture and participative workplace management.

As always, our attendees generated a lot of good ideas at the Fall ESOP Forum. A few really struck us.

Gripple is a manufacturing

A critical question we are being asked is whether you can or should get an interim valuation in response to changed economic circumstances, and if so, how  is it done.

If one employee-owned company can reap the benefits of employee ownership to provide an attractive workplace while outperforming competitors, what can a group of employee-owned companies accomplish together?