Employee Benefits Law Group PC

Do you know how to advise clients on ESOPs? The new CalCPA continuing education course, ESOPs - What to Say When a Client Asks, is designed specifically for CPAs. This course helps CPAs educate their clients on what they should know about ESOPs, so they can make informed decisions. The next session is November 20th. Learn more and register here. https://buff.ly/3zVIYOM

The ESOP Association's Employee Owned 2024 Conference is November 13-15 in Las Vegas. EBLG Shareholder Sheryl C. Bayani-Alzona is a speaker at the Repurchase Obligation session on November 14th at 9:45 am PT. This session will assist attendees in understanding the various aspects of a plan that may require amendments to achieve results in managing repurchase obligations, changing distribution provisions or policies, and its effect on the company's cash. We hope to see you there! https://buff.ly/40dpUpC

A special edition of the NCEO newsletter is available, celebrating the 50th anniversary of ERISA. Get an in-depth look at the history of ESOPs, starting with their creation in the 1950s by Louis Kelso, their inclusion in ERISA in 1974, and how they have evolved over time. It’s an extended issue filled with valuable historical insights. https://buff.ly/3Nx6RPP

The National Center for Employee Ownership is hosting a webinar, Keep Your ESOP Ahead of the IRS & DOL Curve, with EBLG Shareholder Sheryl C. Bayani-Alzona as a speaker. Join us on October 29th for an insightful discussion about the regulatory authority and investigative processes of the IRS and Department of Labor. With both agencies increasingly focused on ESOPs, this webinar will provide key insights on how to stay compliant and mitigate risks. Ensure your organization is equipped to handle regulatory inquiries and take a proactive approach to ESOP compliance. Register here. https://buff.ly/4eP00wY

There are multiple classes of stock that an ESOP can own. The Internal Revenue Code defines employer securities for privately held companies as including common stock if the common stock has the highest combination dividends rights and voting rights of any class of common or preferred stock if the preferred stock is freely convertible into common. https://buff.ly/4dbo1N5

Tomorrow is The ESOP Association California/Nevada Chapter - 2024 Annual Conference. EBLG Shareholder, Jim Paul, participates in an engaging session during the conference, "Selling an ESOP Company - What Happens Next?" on Friday, September 27th at 11:00 am PT. Learn about the do's and don'ts of navigating the sale of an ESOP company. https://buff.ly/3XVWOtH

We hope to see you at The ESOP Association California/Nevada Chapter - 2024 Annual Conference this week. EBLG Shareholder, Kevin Long, is speaking on "Corporate Governance: Relationship Between Directors & Trustees" on Thursday, September 26th at 2:30 pm PT. You'll learn about the framework to govern the relationships among the beneficial shareholders, the ESOP Trustee, the Board of Directors, and the Officers of the ESOP Company. https://buff.ly/3XVWOtH

The Internal Revenue Code requires that company stock in the ESOP must have full voting rights. Since the ESOP trustee is the shareholder, the trustee is required by law to vote the shares in the plan. The participants do not have shareholder rights under ERISA or the Code. However, the trustee is required to pass through or request for voting instructions to the ESOP participants in certain events. Learn more. https://buff.ly/4ddWB9w

The ESOP Association is hosting the California/Nevada Chapter - 2024 Annual Conference next week in Anaheim. EBLG Shareholder, Sheryl Bayani-Alzona, gives a talk on "What to Expect When You're Expecting....an ESOP" on Thursday, September 26th at 11:00 am PT. Learn what decisions need to be made before closing, the effects of those decisions on the ESOP, and what can be done now that the ESOP is a few years old. https://buff.ly/3XVWOtH

Is your 401(k) in compliance? Most 401(k) retirement plans meet the Code’s coverage requirements by passing the ratio percentage test based on participant numbers. If a plan doesn't pass the ratio percentage test, another option is the average benefit test. Learn more. https://buff.ly/3TgVCxU