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...
Tag: ESOPs
DOL’s ESOP Valuation Case Against Engineering Firm Falls Flat
The court notes that the ESOP trustees, while accepting a price very close to what the sellers were seeking, saved...
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 |
ESOPs a Win-Win for Workers and Employers
Not only do they build employees’ wealth at a faster rate than retirement plans, but they contribute to business performance...
Settlement Details Published in Jander v. IBM
Prior to settlement, the long-running stock drop lawsuit received multiple appellate court rulings and consideration from the U.S. Supreme Court.
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.
ESOP Participants Claim They Were Conned Into Selling Shares at Discount
A proposed class has been certified in the lawsuit against Maine Oxy-Acetylene Supply Co., its owner and a person who...
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...
Additional ESOP Valuation Litigation Targets Wilmington Trust
According to the lead plaintiff, fiduciary violations occurred when an inflated valuation provided by Wilmington Trust caused an employee stock...
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...
Reliance Trust ESOP Lawsuit Clears Dismissal Motion
The Department of Labor alleges various failures and points of wrongdoing associated with sale of company stock to RVR Inc....
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...