DOL Recovers Money for ESOP Participants
The Department of Labor ordered the former trustee to restore $8.4 million and plan fiduciaries to restore nearly $1 million...
Tag: employee stock ownership plans
ESOP Sponsor Settles Allegations of ERISA Violations With the DOL
Mohawk Hospital Equipment will transfer $431,000 worth of stock to participants and pay a fine.
Plaintiffs Allege ERISA Breach Against Chicago Consultant
A new complaint claims that West Monroe ESOP participants who sold stock in the company did not receive fair market...
Court Denies Summary Judgment for Lawsuit Against ESOP Fiduciaries
The judge found that while the plaintiff might have released all his claims with a separation agreement, the lawsuit was...
DOL Alleges ESOP Sale Illegally Benefited Plan Fiduciaries and Their Children
The Department of Labor says the plan’s ownership interest was sold for less than market value, effectively transferring the rest...
A Closer Look at S-Corporation Employee Ownership
Several bills circulating in Congress would streamline and promote S-corporation employee stock ownership plans. One expert says such ‘S-ESOPs’ benefit...
Benefits |
Plan Sponsor Roundtable: The New Focus on Financial Wellness
Plan sponsors discussed benefits they consider part of their financial wellness offerings that might not typically be viewed as such.
Benefits |
Employers Begin to See Long-Term Value of Stock Options
Equity compensation has not traditionally been used for retirement savings, but there are ways to incorporate it into employees’ long-term...
Plan Design Decisions Can Reduce Overconcentration in Company Stock
Research from Vanguard supports the continuation of rethinking decisions about company stock offerings in defined contribution plans.
Bill Would Fill Gaps in Previous Retirement Legislation
The SAVE Act would allow 403(b) plan sponsors to join open MEPs and incentivize the creation of ESOPs, among other...
Settlement Reached in Lawsuit Alleging Imprudent Sale of ESOP Assets
ESOP plan committee and Republic Services defendants, as well as GreatBanc Trust Co., have agreed to a $7.9 million payment.
DOL, Wilmington Trust Reach Agreement Over ESOP Overpricing
The agreement requires Wilmington Trust to pay $80 million to 21 employee stock ownership plans (ESOPs) for which it served...
Monitoring DC Plans’ Company Stock Investments During Market Volatility
Decisions for 401(k) plan sponsors with company stock on their investment menus are different than those for sponsors of true...
Insurance Company to Pay $3 Million to ESOP for Alleged Share Overpayment
The DOL alleges that the company’s president influenced an appraiser’s valuation and the ESOP’s trustee didn’t do his due diligence...
Settlement Announced in Case About Forcing Participants Out of ESOP
The case has been stayed until the parties can draft the settlement agreement.
Wilmington Trust Agrees to Settle ESOP Lawsuit
It has agreed to pay $5 million into a settlement fund.
Reducing the Risk of ESOP Investigations and Litigation
An NCEO report provides details about DOL investigations and litigation against ESOPs and provides considerations for ESOP valuations.
Court Orders ESOP Fiduciary to Complete Fiduciary Training
This is in addition to $454,545 in restitution to the plan, paid by the company and its employee stock ownership...
ESOPs Boost Household Wealth
Workers between the ages of 18 and 34 who are employee-owners have 92% higher median household wealth relative to workers...
Opinions |
Pairing ESOPs With 401(k)s Can Heighten Retirement Outcomes
Trevor Bare, with Conrad Siegel, discusses the differences between ESOPs and 401(k) plans and how offering both can better prepare...